February Plan - What You Should Be Working On This Month
February is an important month for businesses. As we move into the second month of the year, it’s a great time to start thinking about how to keep up that fresh new years momentum of January and set yourself up for success over the next 11 months. Here are some things you should focus on in your business this February to help ensure that your business has a successful year ahead:
Analyse January’s Performance Metrics
February cues the midpoint of Q1. The first thing that should be done in February is a review of your progress from January.
Assess current performance metrics like sales figures, website traffic and social media engagement so that you can identify areas where improvement is needed.
Look at any goals you set for yourself and see how close you came to achieving them. If you fell short, think about why that happened and what changes you can make going forward. It’s also important to look at any areas where you exceeded expectations and build off of those to create repeatable success.
Get Ready for Tax Season
Tax season officially begins in mid-February, so now is the time to get organised and make sure all of your paperwork is in order for March 31st. You don’t want to get stuck last minute and need to request an extension from IRD to complete your taxes, so take some time now to make sure everything is accounted for and all of your documents are up-to-date. Doing this ahead of time will save you a lot of headaches down the line.
Focus on Employee Training
Employee training is often overlooked but it’s one of the most important things that businesses should focus on each month. Investing in employee training helps ensure that employees have the skills they need to do their jobs effectively and also boosts morale and shows employees that they are supported in their career development.
If you are running your business solo - this is also an opportunity for you to consider if there are any courses, training programs, seminars or coaching you might require to develop skills and help grow. Carve out some time in February to focus on mapping out training initiatives to create future opportunities for business development and growth.
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