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August 27, 2014

End of Year Should Prompt Outreach, Planning

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End of Year Should Prompt Outreach, Planning

There are several tasks that real estate agents and all small business owners should complete by the end of the year, suggests Bill McBean, author of The Facts of Business Life: What Every Successful Business Owner Knows That You Don't.

He recommends that business owners first determine whether they have been effective leaders, focusing on the company's destination and how it should operate when it reaches that point. They should analyze all systems and procedures to revamp those that no longer work or eliminate inconsistencies in the handling of tasks that affect customers and data used to make business decisions. 

Business owners should be sure to thank their best customers as well as reach out to employees, showing an appreciation for a job well done and encouraging low performers to improve in the coming year. They also should evaluate their marketing plans, meet with attorneys and other advisors for an update, and look at where profits can be raised and costs cut to ensure extra cash on hand for tough financial times.

Finally, they should set realistic goals for the coming year, then take them up a notch with the goal of both increasing and maintaining market share.

Source: "End-of-Year 'Must-Dos' for Entrepreneurs and Small Business Owners," RISMedia (12/15/12)

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