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Tips for Entrepreneurs & Freelancers: Finish the Second Half of 2021 Right
There’s no doubt that 2020 was a period of challenge and change. Going into 2021, the world
was relaunched back into normalcy, slowly but surely. We’re halfway through the year, and now
it’s time to finish the year strong. Whether you’re an entrepreneur or a freelancer, it’s imperative
that you take some time to reflect, recharge, and refresh before wrapping up 2021 right.
Having all your finances and admin in order is key to making sure that you leave no pending
tasks or responsibilities behind. But taking a moment to pause and reflect is no less important.
Together, such practices can help you kick off the second half of the year with a bang!
1. Reflect on 2020 and 2021s’ lessons
Nearly 70% of entrepreneurs said the pandemic altered their business plan or forced them to
make changes that may impact their success. By evaluating the ups and downs of 2020 and
2021, you can make sure to really absorb all the teachings the year had to offer and ensure
you’re on the right track.
Start by looking at the strategies that worked well and appreciate the successes. If there’s been
someone who has particularly helped you along the way, be it a partner, co-worker, or client,
reach out and let them know. Really, it’s as simple as picking up the phone!
However, know that with success comes failure too. Don’t be afraid to evaluate the problems
you faced and think about how you can learn from them. Perhaps you should implement a new
policy? Or is there a specific skill that you need to improve upon?
Also, it might be worthy to review your rates – as your own boss, it’s up to you to adjust your
pricing based on your know-how, value, and expenses. By doing some competitor analysis, you
can even access additional insights and see how competitive you are. Lastly, take some time to
review existing processes and systems. Is there anything you could improve or any bottlenecks
you could remove to be more effective?
2. Get your finances in order
Getting caught up with your bookkeeping might not be the most entertaining activity, but trust us,
it’s worth doing before the end of the year comes storming to a close. Take a close look at your
business performance and try to draw an overall picture of your profits, expenses, and losses.
The best way to do this is through accounting software that can help you stay organized without
having to rely on piles of bills and paper documents.
Just like that, review your payroll records, tax deductions, records and receipts, and any other
important client documentation. Ask yourself whether you need to renew any licenses or permits
so that you don’t get stuck on formalities once you’re getting up to speed with work again.
3. Do the digital cleanup
When it comes to your projects, check that all your tasks are wrapped up on time to start the
new year afresh. Always plan for holiday time off in advance, both by overcommunicating with
your stakeholders and setting up important notifications such as out-of-office emails.
After that, plunge into the digital cleanup. Make sure that all your important files are properly
backed up and centralized in one place – ideally on the cloud. Then, archive your old
documents to be able to access them any time without them cluttering your interface.
Organize your calendar and streamline your contact lists. Remove all duplicate records and
centralize your databases to be able to easily access whatever you may need. Also, go ahead
and optimize the apps and tools that you regularly use, whether it’s in the form of downloading
updates or organizing your data in a smarter way.
If you have some time to spare, explore new tools that could make you even more efficient in
the second half of 2021! These can be productivity-related apps, but also those focused on
networking or mindfulness.
By taking a look both at the micro and macro factors of your business, you’re on the right path
toward setting realistic goals for the next year.
To explore more related content, check out our blog.
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