For many self employed business owners, April signals the start of a new financial year. The slate is wiped clean. Bad habits can be set aside and it can be easier to get into new good habits.
Take some time away from your business to think about the last 12 months and dream about the next 12 months.
Ask Yourself the Following Questions:
What went well?
What didn’t go well?
What income goals do I want to set?
How good was I at keeping records?
Was I easily able to pay tax bill or was it stressful?
Did I manage to balance work and personal life?
Is there work I no longer want to do or clients I no longer want to work with?
Am I pricing right for my services/products?
Are there any expenses I can get rid of?
Was I happy with how much money I took home?
Are there any areas of the business I need help with eg bookkeeping, social media, HR etc
Then, when you’ve answered these questions honestly, think about the year ahead.
Start to put a plan in place for this financial year. Set some goals to improve the areas you felt weren’t great. Book in regular review days to keep on top of the changes you want to implement. Otherwise this new tax year will pass in a flash and before you know it you won’t have achieved the goals you set yourself!