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10 Ways to Prepare Your Business For the New Year

Melinda Clarke Executive Director Montrose-Verdugo City Chamber of Commerce 3516 N. Verdugo Road Glendale, CA 91208  (818) 249-7171 www.montrosechamber.org

Melinda Clarke
Executive Director
Montrose-Verdugo City Chamber of Commerce
3516 N. Verdugo Road
Glendale, CA 91208
(818) 249-7171
www.montrosechamber.org

2015 is almost over and now is the perfect time to be thinking about how to maximize your business in 2016 and start thinking strategically about the year ahead. Here’s a list of 10 steps you can take right now that will pay dividends in the next year: 1. You, and you alone, are responsible for the direction of your business. Now is the time to revisit your life goals and your purpose, and remember what is driving you. Are you leading a life that is consistent with your core values and beliefs? That is where you will find success.  2. If you don’t have a plan to get where you are going, you’ll never get there! Think about what your business will look like when it is fully developed. With a clearly defined vision, everything your company and employees do will move the company toward that vision. What strategies could you develop for next year that will get you that much closer to your vision? 3. Look at the numbers. What are the statistics you can measure that will tell you if you are on track to achieve your vision? It’s vital to the success of your business that you fully understand and use these numbers to help you achieve your next year’s goals. 4. Meet with your accountant. Set up an appointment to review earnings and projected profit/loss for your business so you can create a plan for the next year. 5. Budget, budget, budget. Budgeting requires you to think about your basic objectives, systems and resources on a regular basis. It keeps you current with what’s really going on. Creating a budget is vital to your business’ success. 6. Cash is king. Cash is to your business what fuel is to your car – if you run out, you stop. Build a cash plan that will help meet your goals. 7. Work on your time management. Start to plan your strategic work for the year. Build a strategic calendar by booking appointments with the necessary people who will help you reach your new goals. Make an effort to book and confirm your meeting schedule through at least the first quarter of the new year. 8. Schedule strategic business development work. You absolutely must schedule strategic time with yourself if you want your business to survive and thrive. Be sure to allow yourself enough time for any “catch up” work. 9. Create a to-do list for the first week of January. Taking the first step is often the hardest. So why not start now with a to-do list for Monday, Jan. 4 through Friday, Jan. 8? Jump-start that first week with a clear commitment to change. 10. Set your goals for 2016. After you have reviewed and completed the nine steps above, determine which goals you need to complete in the next year. How many sales do you need to reach your revenue goals? How many prospects do you need to talk to in order to make that many sales? How many advertisements do you need to do in order to get that many prospects? Prioritize your needs and your actions based on the vision for your business. Make a personal commitment to reaching your goals and taking the necessary actions by scheduling what needs to be done and by when. Remember: This is a golden opportunity to start fresh in the new year. Make a commitment to yourself to make 2016 your best yet! For more information, log onto www.emyth.com.

Montrose-Verdugo City Chamber of Commerce: Your source for all things local! Our mission is to actively support and enrich the community, vitality and pride of Montrose, to help preserve the historic district and small town atmosphere, to promote economic stability and positive, productive relationships within Montrose and the surrounding communities.

Upcoming events

Montrose Old Town Christmas ongoing from Nov. 27 through Dec. 25 on Saturdays and Sundays from 11 a.m. to 3 p.m. in the Montrose Shopping Park.

Montrose Christmas Parade on Saturday, Dec. 5 at 6 p.m. sharp in the 2200, 2300 & 2400 blocks of Honolulu Avenue in Montrose.

2016 Installation Dinner on Thursday, Jan. 28 at Oakmont Country Club, 3100 Country Club Dr. Glendale 91208

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