What Are You Waiting For?
As 2017 comes to a close, have you taken the time to examine the overall health of your business and where it is headed next year?
I recently read an article in Small Business Trends magazine, that provided a great refresher on “7 Year-End Financial Tips Your Small Business Should Consider.” The article was full of a lot of common sense suggestions that I think a lot of business owners often forget about — or don’t always have the time to think about.
Oftentimes, we get carried away with all of the day-to-day details that it takes to run a business and forget to stop and actually examine what we are doing, how we are doing and why we are doing it.
One of the experts quoted in the article says each December you should “take the time to step back and look at the big picture.”
Makes sense, doesn’t it? But are you actually doing it?
Meetings with a Purpose
December is a good time to have a team meeting with your key employees. According to the article, a “team meeting is a great way to look at what’s going well operationally — and what’s not.”
Listen to your employees, hear them out. They are closer to many of the challenges your business faces than you are. They also may be closer to many of your wins too. But get their perspective on how things are going. Process that information appropriately and make your decisions for the new year.
If you use consultants, attorneys or outside accountants, meet with them before the end of the year too. You are paying these individuals good money, so make sure you get your money’s worth.
It’s also a great time to meet with your suppliers. Ask them what they think the future holds when it comes to their products (and prices) and how that could potentially impact your bottom line. Be sure to ask them why there may be changes or price increases in the coming year.
And, of course, there is no time like to the present to plan for the future. Start thinking about tomorrow — today. By looking at this year’s financial health, you can prepare for an even healthier next year.
You can read the entire Small Business Trends article at www.smallbiztrends.com/2017/10/small-business-year-end-tips.
Wanted: Young Professionals
As I mentioned last month, we are now accepting nominations for GPN’s 40 Under 40 Class of 2018. If you think you know an individual that should be in the Class of 2018, then we would like to know more about that person.
You can nominate anyone in the horticulture industry who is under the age of 40 (as of Jan. 31, 2018). Just fill out the online form at www.gpnmag.com/40-under-40-awards.
In May, we will introduce you to the Class of 2018!
Video Library 
