Preparing for Christmas as a business owner

The Silly Season is just around the corner – meaning it’s break time for some business owners and crunch time for others. Regardless of whether you’ll be relaxing in the sun or rushed off your feet this Christmas, it’s important to find a solid work-life balance, where you aren’t constantly thinking about one or the other. We’ve jotted down some ace advice for preparing for the silly season as a business owner, and what to expect for the new year.

The 3 C’s: Communicate, Celebrate, Cashflow

Communicate: Like we always say – communication is key. So, take some time out early in December to chat with staff about the plan for the Christmas season. Either you’re full steam ahead, limiting your hours, or clocking off. Make sure the team know their schedule and your schedule. Likewise, it’s a top idea to let your customers and suppliers in on this schedule – either by email or social media. Keeping everyone in the loop helps reduce the stress levels of yourself, staff and customers. So, get your planning cap on and put together a schedule.

Celebrate: It’s called the silly season for a reason. Celebrate yourself, celebrate your staff, and celebrate your customers. Remember that your staff had your back through the year, and your customers stayed loyal through some pretty shaky times! So, get in the festive spirit, put up some decorations, have a laugh with your team, do some gift-giving, donate to a charity, or all of the above. Most importantly celebrate yourself and what you achieved this year (even if it is just getting to the end of it) – pat yourself on the back, it was a toughy!

Cashflow: Cashflow, cashflow, cashflow. Think it, breathe it, live it. It’s been a pretty common word this year with Covid creating a large cashflow struggle for many businesses. Now’s the time to sit down and plan out the next month or so. You’ll need to think about all your upcoming Christmas expenses, general expenses, tax payments, payroll – the lot. This is especially important if you’re a business that winds down over the Christmas period – the first few months of the calendar year are hot with tax payments, so make sure you’re aware of them.

The grind never stops

For those businesses pushing through the Christmas season, it’s still important to tick off some items from the season checklist. Plan your time effectively – throughout the hustle and bustle of the holidays, it’s easy to forget how to use your time and energy most effectively..

Take 20 minutes out of your day to plan for the week ahead. Always making sure you’re leaving enough breathing room to relax and spend time with friends and family (and take off the boss cap). It’s also always a good idea to create a festive environment for your staff and make sure they know you appreciate them and their company. It’s as simple as organizing some team treats or simply telling them they’re an asset.  

Looking ahead

If you’re a business owner with a bit of downtime (and the sun is far from sight), it’s a great time to plan for the year ahead. Jot down a rough copy of some goals, ideas, campaigns, direction, or opportunities. Get into the mindset of celebrating a fresh year with a clean slate – ready for you to get your entrepreneurial cap on and get business moving.  

In the new year, come and see us. We’d love to be a sounding board, devils advocate, and/or your biggest support all at the same time.  

Most importantly make the most of your break and celebrate getting to the end of a wild year and get yourself fizzed up for 2021.  

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Your Outside team, Ruby and Fizz

Contact Wellington AccountantsChartered Accountants | Bookkeepers

Address: Level 2, 182 Vivian Street,
Te Aro, Wellington

Mail: PO Box 24-457, Wellington 6142

Phone: 04 889 2975

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