Like many entrepreneurs, I can’t relax and just let the world go by. I have to be proactive and form important New Year’s resolutions.
If I’m on a beach, I’m thinking about how much sand costs. If I’m at a concert, I’m calculating the ticket sales. If I encounter something that really strikes me as new and cool and unique, I’m thinking about how to promote it and make it into a business. So what, you ask, do I do on New Year’s Eve?
I’ve been known to be a pretty entertaining party guy, but I can’t remember the last time I went out on NYE. First, the odds of getting into some sort of mess rise dramatically on NYE.
But don’t think I bring in the New Year with a dull THUD! No way! On the contrary! It’s one of the most creative and exciting nights of my year!
First, during the day of the 31st I prepare. I pull financial statements and check registers from my personal and business accounts. I re-read my company’s web site, and take screen shots of pages I want to change. I check my brokerage account to remind myself which stocks I own. If I’ve got some big winners, I’ll sell a loser or two, liberating some money from the system. Finally, on my way home from the office, I stop by my local purveyor of spirits and purchase something special. It may be a craft beer from Dogfish Head or a bottle of expensive wine from Napa, but it’s something special, not my usual before-dinner cocktail.
As the evening begins, my wife prepares a great meal. I eat sparingly, but have dessert for a change. Then I go to my office, which everybody now calls a man cave, and the fun begins!
First, I bring up my financial statements from 12/31 of last year and review the numbers. (It’s on an Excel file, of course) Then, I fill in the final current year’s numbers and account for changes in assets and liabilities. I compare the difference in the two years and then I fill in a third set of numbers. It’s what I want to achieve by next 12/31.
That brings me to strategy time. I review (mentally, like Einstein did with Quantum theory) a variety of possibilities to make next year better. I ask myself which expenses are really a waste of money that I can cut back on and what sources of income I can enhance with some investment and effort. Then I make a list of all the good ideas, and the crazy ones, for evaluation later.
Soon after passing the halfway mark on the special bottle of booze I’m working on, I pull out the screen shots of my company’s web site and make notes on the pages where I feel we could improve the client’s experience of forming a new company or maintaining an existing company. Lots of changes have happened due to these annual examinations of my web site.
Finally, I make a list of each of my employees and make notes next to each person to remind me of their positive characteristics and aspirations for their future. I jot down ways I can influence positive change in their lives. Then I scan it onto my desktop so I can access it immediately when I need it later.
Finally, usually after 11:00 p.m., I turn the TV on the see the ball drop. I don’t know why. It’s no big thrill. I just do it like everybody else. Usually, I’m asleep soon into the New Year, if not before, with a lot of exciting things to begin doing, starting first thing in the morning.
On New Year’s Day, I just love getting up, brewing up a latte, and getting back to work!
THE AUTHOR OF THIS BLOG ARTICLE IS NOT A LAWYER AND HARVARD BUSINESS SERVICES, INC. IS NOT A LAW FIRM. THE ARTICLE ABOVE IS NOT INTENDED AS LEGAL ADVICE AND SHOULD NOT BE TAKEN AS LEGAL ADVICE. THIS SHORT ARTICLE IS STRICTLY TO MENTION SOME ASPECTS OF DELAWARE’S CORPORATION LAWS AND/OR LAWS RELATING TO OTHER FORMS OF ENTITIES WHICH YOU MAY NOT BE FAMILIAR WITH. WE RECOMMEND THAT YOU CONSULT WITH A LAWYER BEFORE FORMULATING A STRATEGY WHICH WILL BE SUITABLE FOR YOUR SPECIFIC CASE.