Is It Catch-Up Time?

Last week I wrote a little bit about what one can do individually to improve and move forward in your financial situation after what may have felt like a rather turbulent year. This is not something that only comes through in the individual picture, though, but can also carry some wisdom for businesses.

In fact, you are probably feeling this more as a business. It’s one thing to have not been fastidious about tracking your personal checking account, but it’s another if you have not done so for your business account. In that situation, you may be seriously hurting your tax picture if you have not been keeping track of your income and expenses. Thankfully, it is still December, so there is time to catch up a little bit.

Granted, the holidays are coming and no one really wants to spend hours over that time working, but what would happen if you carved out just an hour a day to catch up on your office work? The first couple days may feel overwhelming and there may seem to be too far to go, but by the end of a week, I will bet that you are going to feel much better and the end may start to be in sight.

This is one of the banes of owning a business. People start the business because they want to focus more of their life on one area – and that is the public-facing part of the business and not all the stuff that has to happen behind the scenes to be fully successful.

So you’re going to feel great when you are caught up. Now take that feeling and move forward with it. How much time will you need to carve out to be on top of things? Is it two hours per week, five hours? If so, it can be beneficial to put that in a steady time slot on your calendar and make that the time that you focus only on that part of your business.

Of course, there comes a time in many business lives when you no longer actually have the time to stay on top of it. That’s great! It means that you have enough going on that your expertise is needed elsewhere, in the more exciting parts. So maybe it’s time to start getting some help in other areas so you don’t need to worry about them. And if you’re in that spot, please contact us, let’s see what we can do together to help you.

Warmly,

Josh Bousquet
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