We recently shared a blog about end-of-year financial tasks for small businesses. Super fun stuff, eh? But you gotta do it. And although the Benjamins might be on your mind, here are a few other things to review in the final weeks of 2017.
Considering a rebrand? Make sure it’s in the budget. What will you need to update or change? Will you do it yourself? Hire a freelancer? Or do you need a full-service agency to completely reinvent your identity and messaging?
Whatever you decide, make a detailed list of what you’ll need and why. Here are a few ideas to get you started. How does your website look? Does it still show your old menu? Are there staff changes? Old events listed? Go through each page of the site with a fine tooth comb and update, update, update. Just like in real estate where location, location, location is king, an updated website is the best curb appeal your business can offer.
How about your advertising? Does that billboard on the highway have trees growing over it? Are you going to continue placing discount coupons in the local direct mail magazine? Do you have any new slogan ideas to incorporate? Adding a digital marketing strategy to the mix? Think about campaigns and direction for the coming year. Forbes posted a great resource on types of rebranding. Check it out.
If you’ve been thinking about major purchases, the end of the year can be a great time to do it. Such investments can range from new client relationship management software to a brand new freezer. Start researching and make purchases now so they can be claimed in the 2017 year. Your accountant can help you determine what is eligible for a deduction.
Is Nancy still listed as the IT manager, even though she is now working in product development? Are the new connections from the trade show you met added to the newsletter list? Have all of your employees filled out their beneficiary information, health insurance updates? Is your client address list up-to-date for when you send out your holiday menu or promotional flyer? The Post Office wants to help to ensure proper delivery. Use your resources.
Now’s a good time to review your coverages. Do you have the right policies and are they covering the updated values of your property? f you expanded or bought equipment in 2017, is that added value reflected in your policy?
Do you need to add a new policy? Has something changed that requires protection? And don’t forget, you may have old policies you don’t need anymore. Check for those as well.
There are also a lot of insurance policies you might not even know exist. And some of them might be useful to you. Did you know there’s insurance to cover you in case of a data breach at your business? Know your options and get policies in place to protect your livelihood for the long-term.
And keep an eye on simpay.net in 2018! We’re bringing you lots of awesome ideas, advice and support to help you make this next year an incredible one. If there’s topics YOU want more information on, please get in touch and let us know!