By Stephen Tweed

The Christmas season is a time of celebrating with friends and family. It’s a time for giving. And a time for receiving. It’s a time to be grateful for all the blessings we have received.

As a serial entrepreneur and small business owner for several decades, I also find that the Christmas holiday is a time to step back, be quiet, and reflect on my business.  Frequently during the Christmas break, after the hustle and bustle of family, friends, and Christmas cheer, I have taken a day to go to my office when no one else is around to think about the year just passed, and to anticipate the year that is coming.

Yesterday, I was sending our Year-to-Date P&L to our CPA in preparation for some year-end tax planning. I took some time to review the report to see what I could learn about our business this year, and what I might like to do differently next year. Then my wife and business partner, Elizabeth Jeffries, CSP, CPAE and I had some conversation about our observations.

Another activity that is very insightful is to go back through my calendar to review all of the meetings, travel, events, and activities that made up my year.  I ask myself, “What were the most meaningful items on my calendar and why?”

Another part of that review is looking at the amount of time blocked out on my calendar to see how much time I was spending on various types of activities. That gives me a good indication of where I placed my priorities and which activities have been most important.  It also causes be to ask the question, “Am I allocating the most time on my calendar to the activities that are most important for my business, or for me personally?”

What do you do at the end of each year to review the facts and information about your business? When do you do that? What have you learned over the course of your business from this year-end reflection?

We hope you have a Very Merry Christmas, or which ever holiday you celebrate, and a happy, healthy, and prosperous New Year!