Habits can be formed in a matter of weeks and therefore it is important that you plan and develop specific checks and balances so that good habits are formed in your business. Have a list of things that need to be done on a regular basis, and then be sure to do them within the stated timelines.
DAILY:
1. Do all your paperwork – This is easier to do when the thoughts are fresh in your mind and less stressful than facing a desk full of things that need to be finished.
2. Prepare and deliver your bank deposit – Cash flow is important, especially when you are just starting your business.
3. Send invoices to vendors – The sooner you mail them, the sooner you will get paid for your work. 3. Walk around the office before you leave and put things in order quickly so that the next day you are ready to receive clients.
4. Write down a list of things you need to do the next day or make sure they are on your calendar. This will allow you to clear your mind without worrying about forgetting things.
WEEKLY:
1. Review your week to determine if you have met your goals.
2. Quickly scan the calendar for the following week so you can mentally prepare for what is scheduled.
3. Make sure the office is thoroughly cleaned (either by you or by a janitor).
MONTHLY:
1. Complete payroll activities.
2. Submit account statements with balances.
3. Review the Accounts Receivable list and contact the past due accounts to arrange payment.
4. Pay your bills for the month (you can schedule them for specific dates through Internet banking or write checks to be mailed on specific dates).
5. Complete all government reports and presentations.
6. Print monthly reports.
QUARTERLY:
1. Complete all government reports and presentations.
2. Review your goals and set new ones for the next quarter.
ANNUAL:
1. Submit electronic and paper records to the accountant for preparation of income tax return and financial statements.
2. Review the client list and thank them for working with you.
3. Close any inactive files.
4. Set goals for the next year and prepare a new Business Plan.
Feel free to add or edit these lists to suit your business. The important thing is to make sure you are doing things at designated times. By doing this, you will find that your workload is spread throughout the year and you will never have to face an unprepared time or an overwhelming end of the year.