Living the E Life

As entrepreneurs, the end of the year can feel especially chaotic. In addition to preparing for and enjoying the holidays, there are also quite a few business-related tasks that will require your attention. Here are a few tips we've learned from experience that help this time of year go a bit more smoothly.

#1 - Block your time

It is super easy to get run down during this time of the year, so we've found it's important to block time off on your calendar even more intentionally. Schedule time for the extra admin tasks (e.g., reflection, wrapping up finances for taxes, planning for next year), for taking care of you (e.g., exercising, spending time with loved ones, sleep), and also for simply taking things a little bit slower. We can just about guarantee that extra to do's will creep up, so having some breathing room in your schedule allows you to continue to take care of yourself and not felt overwhelmed.

#2 - Decide what holiday traditions are non-negotiable and which ones you will let slide

For Lindsey, baking holiday treats with her kiddos and doing "Kids Christmas" with long-time family friends are on the must-do list. Abby hosts a cookie swap with her girlfriends, loves a good fresh balsam candle (iykyk), and sings holiday songs with her boys. Things that often slide for both of us: pictures with Santa, big shopping trips, and multiple holiday parties. Pick your top 1-3 holiday traditions and protect those. Otherwise, it's okay to say "no" to other holiday asks - you get to enjoy the season in your own way!

#3 - Shut down work for a few days (or longer!)

This time of year, your clients will often have too much on their own plate to schedule with you and are typically very accommodating if you are closed. It is okay to shut down completely and do zero work for a few days. This gives you a needed reset, helps you to avoid burnout, and sets boundaries for your intertwined entrepreneur life. Stepping away can also improve clarity around what truly matters to you and remind you that you have a life outside of work - both of which are important to model for our clients!

Enjoy the View

The end of the year is a natural time to reflect – to think about what went well, what you want to improve, and new ideas you want to pursue in the year ahead. We both take the time to do an annual reflection in late December, and offer these questions to help you with your own, so that you may take advantage of the fresh start effect in January:

What do I want to be true or different this time next year? What about in three years?

Allow yourself to dream: Based on what you want to be true in the future, what might you adjust in the new year? What things do you want to stay the same? Pause to think about your entire entrepreneurial life – the intertwining of the business, professional, personal, and other parts that are important to you.

What goals do I have for 2025?

Ideate by getting all of your ideas for the new year out on paper - no matter how wild, scary, silly, or ridiculous they might feel. Then narrow down to the few that you want to purposefully work toward in 2025. We find that there are usually a mix of personal goals, financial goals, and business-specific goals. After you have your short list, outline your process: What are your monthly or quarterly targets? What will you do to reach those? What is more of a daily or weekly habit? How will you track those actions?

What word or phrase will characterize your upcoming year?

Having a word or phrase that anchors you to your highest priority in 2025 can be incredibly beneficial and empowering. Write it in a variety of places so you can see it consistently throughout the year – on your mirror, on a post-it note on your computer, or as the background of your phone. This constant reminder keeps you focused when the chaos of life pulls you away from your priority.

Reminder: Beneficial Ownership Information Reporting

If you own a corporation, LLC, or similar entity, you may have received an email from your Secretary of State's office about the Corporate Transparency Act being passed by the US Congress to combat money laundering and terrorist financing. If your entity was formed or registered prior to January 1, 2024, you must file an initial beneficial ownership information report by January 1, 2025. If your entity was formed on or after January 1, 2024, you must file a beneficial ownership information report within 90 calendar days of notice of formation. Failure to comply may result in significant civil and criminal penalties. Beneficial ownership information reports are to be filed at https://www.fincen.gov/boi.

Have your EIN and driver's license or other form of identification handy, and this should only take you 10-15 minutes at most! For questions, call 1-800-767-2825 or go to https://www.fincen.gov/contact.