Well, here we are, closing out yet another year, and it’s time to start evaluating your business at the end of 2022 so you can set yourself up for the most success in 2023. Although it’s always a little difficult to predict what exactly the year ahead of you is going to bring, taking time to reflect on how things went in the past year will help you determine where the weaknesses of your business lie, what opportunities you might be neglecting to pursue, and what resources you will need to improve or continue building on the success that you’ve enjoyed in the past year.

A smart business that is doing a serious job of evaluating will look at everything from human resources to technology. While there’s no one-size-fits-all, cookie-cutter guide to a business evaluation at the end of the year (after all, no two businesses are exactly the same), there are some general guidelines you can follow to ensure you have a full picture. Here’s what we recommend:

First, Start By Taking A Critical Look At The Past Year

Before you start to look forward, you have to take a look back. What have you accomplished this year? What have been some of your setbacks? How did you solve challenges as they come your way, and could you have solved those challenges more efficiently? It helps if you ask yourself these specific questions:

  • Was my cash flow steady? 

Although there are many ways we measure our success, such as making an impact in the lives of customers, we can’t overlook the importance of good cash flow. A successful business is in the black—it is bringing in more money than it is spending. If your profit margins were not as plentiful this year as they were last year, or they simply weren’t as great as you were expecting, it’s worth asking yourself what expenses you can cut. But be careful—there are certain expenses that, when scaled back, may affect your ability to bring in money. For example, being understaffed means you cannot sufficiently serve your customers, or a lower-quality product might mean fewer people are inclined to buy.

  • How am I managing my documents? 

Businesses deal with a lot of documents—everything from client contact inform