The year ends with bumpy conditions: an aging bull market, slowing economies, political dysfunction, trade uncertainty and tightening financial conditions, to name a few. These can be distracting or give you reason to pause. However, the New Year offers new beginnings and promise.
November and December are some of the busiest months for small business owners. But taking the time to thoughtfully wrap up the year can have a major positive impact on next year. Here are some things business owners should focus on as 2018 comes to an end.
Business success is often measured by size attributes: revenue, number of employees, geographic coverage, growth rates etc. But these measures don’t reflect the functional development of the business – in other words, just how strong is the business, really? Is it able to grow sustainably? Are there opportunities to execute more profitably? Are there critical dependencies that are risks or limitations for the business? Answering these questions requires a framework for thinking about how a business is actually doing, such as this 6-level model.
We’re about to leave 2016, which may go down as one of the most eventful years for investors since the Financial Crisis. The year started with a tumultuous market sell-off, then major geopolitical events including Brexit and the surprise Trump victory. The U.S. stock markets (S&P and Dow Jones) have sky rocketed, the U.S. dollar has soared to its highest level in 14 years and interest rates are on the rise. Some people are concerned. Others may be peering over the bridge’s edge into the icy waters below. There are reasons for nervousness. Control and don’t be discouraged for 2017. Here are three areas all focused on the theme “Be Flexible.”
An Alternative Financing Workshop will be held tomorrow morning at Reno City Hall. The purpose of the forum is to provide information about innovative financing programs available through economic and community development organizations, financial institutions, and government entities.