It’s Time to Prepare Your Small Business for 2023

Despite the various challenges small businesses faced this year, they could still overcome them. These include rising interest rates and the lack of proper supply chain management. As a new year begins, it’s crucial that you take the time to review and improve your business. This will allow you to make improvements and keep improving.

Reflect on What Worked

Besides reviewing the amount of money, you’ve earned and spent over the past six months, consider your business decisions. These include hiring people, developing a marketing strategy, and maintaining a website.

After reviewing all these details, you should identify what you like and how much money you’ve spent. You should also keep a record of all of the decisions that you’ve made so that you can maintain them going forward.

Investigate What Didn’t Work

It’s essential to review the money that you’ve spent on various projects and initiatives. Although it’s possible that some of these were unsuccessful, it’s also important to remember that this is part of the learning curve.

For instance, if the goal of your social media marketing campaign didn’t generate the desired results, you should consider getting rid of the hired publicist. Instead, focus on finding ways to operate as lean as possible.

Look at Finances

If you’re not already a business credit card holder, you must consider the available options. These will allow you to manage your expenses and keep track of your regular payments.

Most credit cards come with various perks and rewards programs, such as cashback, miles, and points. Some also offer zero percent APRs for a certain period. Before you sign up for a credit card, make sure that you thoroughly read the offers and compare them with the requirements of your business.

Watch Taxes

Being a business owner can be very challenging, as you have to manage your taxes and make sure that you don’t overpay. As a result, you’ll have to estimate and plan for your quarterly taxes. Fortunately, there’s a good news story about using a credit card for business expenses. It can help you roll over the balance over to the next month.

About the Author

Gianmatteo Costanza is a Senior Technical Program Manager for Meta in San Francisco, California. In addition to being a well-established developer and team leader, he is also a successful entrepreneur.

Gianmatteo’s first venture was in high school in Zurich, Switzerland. He and some friends co-founded a web design firm called 4nexus the webarchitects. They primarily designed websites initially, but their talents soon let the company evolve into web-based solutions for small- and medium-sized business clients, a hosting company, and software solutions for financial applications. This experience allowed Gianmatteo to explore his multiple talents as a project manager, accountant, designer, and developer.

Gianmatteo has always been interested in the communications industry, mainly digital media. After choosing a job as a journalist for a local newspaper, he decided to study Communications at USI Università della Svizzera Italiana in Lugano, Switzerland. Gianmatteo became heavily involved with student organizations and the school paper while enrolled. As he became more interested in the technical aspect of media, Gianmatteo Costanza opted to switch majors to study computer science. He was drawn to ETH Zürich because it is highly regarded as one of the leading technical universities in Europe and ranked among the top universities in the world. During his years at the university, Gianmatteo was actively involved in the student’s association and found himself skilled at organizing and preparing events, such as the yearly CS Career Fair. Overall, Gianmatteo fondly regards his academic years as demanding and rewarding, giving him a strong foundation in science, engineering, and critical thinking.

Never one to miss an opportunity, Gianmatteo spent his summers learning about his industry of choice. As a freelancer for surfEU.com, he worked as a journalist and web designer for the popular web portal. While working as an intern for AdNovum Informatik AGA, digital solutions providers for multiple industries, cybersecurity, and cloud-based services, among others. Gianmatteo developed a Java framework for generating financial reports and devised a high-level meta-language for aggregating data. While interning for VMware, Gianmatteo discovered his love for the UI aspect of software development, creating the web center interface for the company infrastructure. These experiences launched Gianmatteo into Silicon Valley, where he worked with department heads to develop large-scale applications and manage his own teams from the ground up.