Small Business Today Magazine DEC 2014 NOUN INVESTMENTS | Page 35

EDITORIALFEATURE

Entrepreneurs Tool Box -

The Final Talley for 2014                    
By Alvin E. Terry, MBA/Business Consultant

Y

our time is up!  It’s time to wrap it up!  Don’t
get nervous.  Everyone is going through the
same things, experiencing the same emotions, and getting ready for that final shout
out of questioning how you did this year.

Did we pay all of our bills?  Who owes us money?  Can we collect?  Is there money left over to
pay Uncle Sam?  Can we minimize our tax burden?  Did we make a bonus?  Did we give back
to the community?  Are we still in business?  Is
there enough inventories left to fill those last minute orders?  These are just some of the questions
that are going through most of the small business
owners’ minds.

Depending upon your actual numbers and
your projections, just how close were you?  Was
your business plan worth the paper that it was
written on?  If you were anywhere close at the
end of the year where you thought you should
be from the beginning of the year, then you are
winning?  This can have a great impact on your
ego, your internal customers, your investors, and
your love life (if you have one or just want to
start one).

If all is well, then the main focus should be on
growth, prosperity, expansion, and increased revenues.  This means that you will begin on the new
“Business Plan” for 2015.  It never ends.  That wonderful task is back again of projecting where you
will go in the year to come.

Isn’t it exciting having to write a new plan?  Don’t
fret; I have been there many times before.  Experiencing that adrenalin rush of growing beyond
your wildest expectations again is exhilarating.

Or, is it giving you a headache?  It comes with
the territory.  You have to pick yourself up, dust
yourself off, learn to delegate, avoid time traps,
hire that much needed assistant, refocus, and get
back out there as if it is the only and right thing
to do.

If all is well, then the main focus
should be on growth, prosperity, expansion, and increased
revenues.  This means that you
will begin on the new “Business
Plan” for 2015.  It never ends. 
 Attacking new markets can lead to that renewed sense of rejuvenation.  Expanding your Internet presence, creating more flexible payment
plans for your customers, adding new products,
and/or expanding your services can generate new
revenues and meaningful relationships.

Take a sabbatical at the beginning of the year to
help formulate your “Action Plan”.  This plan will
transform into the steps of which items should
come first.  It will also help determine the resources that will be needed and the personnel
that will be responsible for its implementation. 
This necessary time off will help you get focused
for the beginning year and what components you
will need to implement your strategy.

I know that it seems as if you might have heard
this before, but you will hear it again, over and
over from other sources.

Well, above all, don’t stress; j