Just Some Reflections

2024 has rushed by. I can scarcely believe we are in the last days of the year. These are days of pause and reflection. Here are some of my thoughts about the lessons and challenges of 2024.

Just Start. Some of our business tasks are huge, and the information available to us can be paralyzing. I have learned to just start somewhere. Sometimes that’s a list, sometimes it’s my best guess. Work flows more easily once I’m not looking at a blank page.

Just Ask. Many people agonize over difficult conversations, asking for the sale, asking for a promotion, asking for a deadline to be extended. Before you ask, you are already at No. It can’t get worse, so just ask.

Just Say No. Conversely, as a business owner, sometimes you need to say no. I am very clear in who my target market is and what kind of law I practice. When you are just starting out, it is hard to turn away a paying customer. Knowing what is not a good fit is as important as knowing what the target customer is. I no longer feel any angst in turning away business that I can’t do well. I save my energy for projects I truly enjoy and I do well.

Just Develop a Support Network. No one can truly do it alone. You need fellow travelers, both business owners in your industry and entrepreneurs in all stages of business growth and development. There are few issues that other business folks have not experienced. They know the good accountants and lawyers and bankers. They can point to low-cost but reputable tricks of the trade. You don’t have to walk alone.

Just Outsource. I am terrible at bookkeeping. I clearly never understood double-entry bookkeeping. I hate filling out and filing tax forms. I procrastinate and then have to rush through. I do a terrible job and stress myself out. The best money I spend every month is outsourcing to trusted partners. I can focus on the things that I enjoy and bring in revenue. And you know what, so can my partners.

Just Adapt. I spent considerable time and energy last year preparing to take advantage of the Corporate Transparency Act. I invested in security and technology to help businesses comply with this sweeping new law. And on December 3, a federal court issued a national injunction, pausing enforcement of the law. It may never go back into effect. And so I will focus on other opportunities in 2025. I’m not disheartened; I proved I can be innovative and embrace opportunities.

Wishing all of you a peaceful holiday season and a successful 2025.