End the year on a positive note

If you are overwhelmed by email and can’t keep up with all your social media channels, why not unplug and reconnect offline with the important people in your life?

Start with your employees. Ask them what kind of equipment, technology or tools they would like you to buy before the end of the year. Surveys by human relations expert Dr. Bob Nelson reveal that providing the right tools and technology is often regarded as more valuable to employees than a small cash bonus.

Check with your tax professional about the rules relating to deducting business purchases. Prices are extremely competitive, and you should be able to find some great discounts out there. Do your homework. Ask friends and colleagues what products and services they recommend. Try to shop in a store – not online – so you can play with all the new equipment before buying anything.

Call – don’t email – your top 10 or 15 clients or customers. Ask them how they are doing and what’s new with their businesses. While you are on the phone, invite them to a holiday open house.   

There’s still time to plan a holiday party. Although you may still be facing financial challenges, why not celebrate the fact you are still in business?  You don’t have to hire a caterer. Just shop at a local warehouse store and pick up some ready-made party platters, soft drinks, beer and wine. Or, order party food from a local restaurant. If you have bakers on your staff, consider paying them to bake some holiday treats.

Use the party as an excuse to clean up the office. Ask everyone to clean up their work areas, but hire a professional cleaning crew to do the heavy stuff (like shampooing the rugs and scrubbing the bathrooms). Decorate the office with green plants, evergreens and poinsettias.

If you really want to boost morale, figure out if you can close the office between Christmas and New Year’s Day. Even a few extra days off are a great gift. If you can afford it, offer everyone a few extra days off – with pay. Don’t be a Scrooge – show them some heartfelt appreciation for a year of hard work.

Don’t dampen the holiday spirit, but take some time in November to review all your accounts payable. It’s not fun, but you really need to know who owes you money – and how much. Your goal is to either be paid promptly or prepare to record unpaid bills as loss. Check with your bookkeeper or controller about the rules related to writing off goods versus professional services.

Once you’ve made a list of deadbeats, dust off the company letterhead or make some by pasting a logo onto a blank document. Do not do use email. Send registered or certified letters that require a signature so you’ll have written proof they were delivered.

Here’s some proposed language:   

“We truly value your business and look forward to serving you next year. However, it has come to our attention that you owe us $_____ for ___________. We are prepared to offer you a __% discount on the balance if you submit payment via check or credit card within the next 72 hours. If you are unable to settle your account, we regret that we may not be able to serve you in the future.”

If customers don’t pay you, they are not good customers. It’s time to let go of them and find new ones.

To avoid future problems, start charging a deposit on Jan. 1, 2012. It’s perfectly acceptable to ask for something up front before you ship any new orders or provide any services. For example, if an organization or company I don’t have a relationship with asks me to speak at an event, I will hold the date and lock it in after receiving a 50 percent deposit.

With the holiday party planned and money coming in the door, take a break to spend some time thinking about your business. What were the high and low points of the year? What changes can you make moving forward? Do you need to terminate a problem employee or fire a bad client? What new products or services can you offer next year?

Make a list of New Year’s resolutions now with the goal of making 2012 a better year than 2011. Why not adopt my motto, which is: Never work with anyone who gives you a headache or a stomachache. Avoiding toxic relationships will definitely improve your personal and professional life.

Why put up with lazy or incompetent employees when there are millions of people looking for work? Consult an experienced labor lawyer before you fire anyone though. Remember, there aren’t really bad people – just people who are a bad fit.