A new decade and year is upon us. As we start to navigate our way through the new decade and the challenges it brings us, there are a few things to reflect on before we get into full swing.
Technology continues to develop and becomes more integral in our daily lives, cyber security becomes more important. As tensions rise in Iran, the New York Department of Financial Services (DFS) issued a warning of heightened risk of cyber-attacks from the Iranian government. The different types of attacks include email phishing, credential stuffing, password spraying, and targeting of unpatched devices. The DFS indicated there was no specific threat but warned people should be vigilant and look into implementing a Cyber Security system.
Personnel development is essential in any business. As a business owner you should be able to run the business without working in the business day-to-day. Continually meet with your employees and identify strong management candidates. Develop them to take responsibilities from you. Their upgraded skills and roles will allow you to work on your business and not in your business.
A well run business is a lean machine. Take a critical look at inventory. Anything with a slow turn or obsolete needs to be sold with a deep discount or donated. Same with your operating equipment. What needs to be retired and replaced?
If you aren’t finding the time or have a lack of energy to go through these steps for the new year, maybe it is time to sell. Give Gateway a call.