This is the second of a 3-part series on how you can use your time if business is slow right now. Click here for part 1.
If your business is slow right now, it’s a great time to set up your files for 2011. For the next few months, most of us will be in transition with files – not quite ready to store 2010 but in need of places for 2011 paperwork. Start by finishing any filing you have right now. Any files you keep by year (bank records, vendor payments, utility bills, etc) should be pulled out and boxed for storage but not removed from your workspace yet. You’ll need those 2010 files as the last of 2010 paperwork dribbles in during early January and you’ll probably need them to file your 2010 taxes. Set up new files for 2011 using the same categories if they worked well for you in 2010. It’s a great feeling to be ready when those first few transactions of the new year happen and you are ready for them. Keep your 2010 files nearby in their boxes until you stop getting 2010 paperwork and your taxes are filed. At that time, it’s a good bet you won’t need them much so you are safe moving them to less convenient storage.
Click here for the last part in the series where I’ll give you one more really useful thing you can do right now if you aren’t serving as many customers as usual.