January is a good time to do employee yearly reviews, if you didn’t get them done last quarter. Talk about the good, the bad, and the just okay. Take a professional, non-combative approach and review the year with each of your employees individually. This is also a good time to discuss their goals, both for themselves and your company. Each employee should have financial goals and part of your job is to help them attain those goals. It might also be time to trim deadwood from your staff if any has accumulated.
Have your employees reread the employee manual, which you should have modified if needed. A signature on the employee manual should be a requirement of employment with your company. It says they have read the manual, understand it and agree to abide by those conditions. You might want to have the signature witnessed by a neutral third party. Disenchanted employees are going more and more to state agencies with complaints of late. You don’t want to go down that path. If you don’t have an Employee Manual, it’s time to get started, we can help.
Get your advertising together for spring work (April – May – June). If you want to be busy in the spring, you need to start that advertising campaign now.
Check your production for the last 3 months to be sure it matched company goals. If it did, continue. If it did not, then figure out why and make the adjustments needed. Remember, you shouldn’t have to take money from the family budget or savings to support your business. If you do, then I would suggest maybe it is time to start running the business like a business instead of a hobby. It is hardly fair to your spouse to ask them to work another job so the household bills can be paid.
Check your sales for last 3 months to be sure it matched company goals.
Start assembling your tax information for 2020. Set a date to have it done and off to your CPA. How about February 15? Be sure and get a commitment date from your CPA when they will have it done and ready for you to send to the IRS.
Do your fourth quarter taxes ASAP. Taxes are a distraction that you don’t need. Get them cleaned up as soon as you can and get back to running your business.
Check that all your subcontractor’s licenses, bonds and insurance are up to date. This is the same old verse to the same old tune, you’ve heard me sing it here many times in the past. Neither do the consequences of using subs on your jobs who do not have a business license, or are not bonded or insured. If they get hurt or damage something, guess who gets to pay?
Are you reading one hour every day?
Have you reviewed 2020 and completed your planning for 2021? If not, why not? Your family depends on you and your company doing well. Let’s make sure that you maximize your business this year.
Take your wife/husband on a date. You might not be able to go to a movie or even out to dinner, but maybe a walk through the mall? Masked, of course. Or a drive-in restaurant with dinner in the car can be romantic when you’re spending time together. An “I love you” (and an “I’m sorry” when appropriate) goes a long way in keeping a relationship healthy.