Tuesday, December 10, 2013

Annual meetings for small business owners

Wow, how can it be December already!  This year has just flown by.  We just had our annual E&S Entrepreneur Advisors meeting and it was very worthwhile.  Legally, all LLCs are required to have an annual meeting, even the single member ones.  It can be boring to have a meeting with yourself, so we recommend meeting with a trusted friend or advisor.

We talked about where we have been and where we want to go with the business. We looked at numbers and statistics-who are our largest clients and what types of services generate the most revenue for us.  We went through each of our clients and gave a brief synopsis so we both know what is going on with them.  We keep notes on all of our client dealing, but it is nice to talk about things and not just read about them.  We set goals for each of our clients and ourselves.

We talked about needs for the upcoming year including technology and education.  We try to stay current with the systems and programs available to us and our clients.  While we are not cutting edge, we try to keep up with the ever changing environment.  I just got a new laptop and I am working on getting comfortable with it.  It has Windows 8.1 so I can toggle to a more traditional desktop which helps!

It is often hard to find time to take stock of your business when you are a small business owner, but it is really important to do so.  We are fortunate to have each other to bounce ideas off of and to make decisions about the future of the business.  If you are a solo business owner, it is helpful to find other small business owners or advisors to serve this role for you.  Taking the time to determine what has worked well for your business and what hasn't, what needs to stay the same and what needs to change is vital to all businesses.  Make it a fun meeting-chose an off site location and treat yourself and those you are meeting with to a nice meal.  You will leave feeling satisfied in many ways.

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