Amanda Gome, Mentor

It is the end of the financial year. I am the boss of a start-up. What should I be doing?

Denham Sadler /

Hasn’t it been a difficult year!

 

Even for those companies that are growing (like ours), it seems we have had to peddle so much harder to get to the same place.

 

So first thing is to celebrate with your team and thank them for their efforts. We had champagne in the office as our Crikey subscription staff during the last week of the FY can’t leave the phones.

 

Second, plan a holiday. If you are anything like me, you need to recharge for a big FY 13 which is going to be an improvement on FY12.

 

This time next week I will be lying on a banana lounge sipping a Bintang, trying not to think about work and resisting the urge to get out my iPad to explore that great idea I just had.

 

Third, you need to sign off on all your budgets and business plan for the year ahead and finalise your FY 12 accounts.

 

Fourth, you need a marketing plan, because conditions are beginning to improve and you need to be planning now to be in the market soon in order to capitalise on the increase in confidence.

 

Fifth, you need to be planning staff performance reviews, including how to move on your poor performers and reward and retain your other staff.

 

And you need to be revising all costs and invite your staff to identify cost savings including the introduction or overhaul of technology.

 

Lastly, you need to touch base with all your mentors, partners and clients to thank them for the year.

 

Save the presents until Christmas, but a thank you email with a bit of news is always a great way to finish the year.

 

And one more thing: Make sure you launch into the next financial year with optimism and enthusiasm.

 

It may well be your best year yet!

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Denham Sadler

Denham Sadler is a former editor of StartupSmart. He was previously a journalist at the publication and has worked as a freelancer for the Guardian, the Saturday Paper and the ABC. In his spare time he likes puns and jaffles.

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