Another year has come and gone and you, like everyone else, are likely busy with the hustle and bustle of the holiday season. It is important, however, to keep the momentum of the year going by working on your business plan for the coming year. Having a clear vision of what you want to accomplish and how you will accomplish it are the keys to becoming even more successful in the near future. While your plan should be specific to your business, here are a few universal ways to get started off on the right foot in 2020.
Thank Your Customers. This is the simplest and one of the most often overlooked ways to show appreciation to your customers. After all, they are the reason you are successful. Without them, you wouldn’t have a business. Take some time to send them a personalized “thank you” card or make a quick phone call letting them know how grateful you are for their past business and how much you look forward to continuing to work with them in the coming year.
Learn Something New. There have been so many recent changes in the notary/ mortgage/title industries due to revisions in law and technology that it may be difficult to keep up when working in your business. In the upcoming year, set aside time in your schedule to take a class, read up on industry changes, learn a new skill, or join an association relevant to your business. Knowledge is power, and it is the key to running a sustainable business.
Review Your Finances and Adjust. Take a look at what your expenses were last year. How can you reduce your expenses in the upcoming year? What assignments were most profitable and least profitable? Break down your business by the numbers and set realistic expectations as to how you will perform financially in the new year.
Market Your Notary Business. Decide how you want your business to grow this year and what marketing endeavors will help you achieve those goals. Create a plan, with a time frame, that shows exactly how, when, and to whom you are marketing. Set some time aside every week just to work on your marketing plan.
Make Sure Your Business is Industry Compliant. While there aren’t many hard and fast rules for notaries, there are some suggested guidelines that, if followed, will vault you to the top of most companies’ preferred vendor lists. Check to see if your E&O insurance provides adequate coverage. For notaries whose errors and omissions insurance policy terms are not consecutive with their terms of office, this is a good time to ensure that their policies are still active and renew them or purchase new ones if necessary. Make certain your background check is from a preferred vendor and that it’s less than a year old. Review how you are protecting personal information and find ways to make your technology and processes more secure.
Stock Up on All Necessary Supplies. Take advantage of holiday season savings when it comes to standard office supplies you use every day - paper, pens, staples, etc. This is also a great time of year to reorder business cards. The beginning of a new year is also a good time to re-ink your official notary stamp to ensure that every impression continues to be perfectly legible. Also, buy a new notary record book if your current one is almost full.
Continue the Good and Fix the Bad. Assess all aspects of your notary business from last year. Identify what procedures and tasks went well and not so well. Keep doing what worked, but for things that didn’t? Review, revamp, and revise.
The Legal Process Lady wishes you and your loved ones peace, health, happiness, and prosperity for the upcoming New Year.
Legal disclaimer: An excerpt of this article was originally published on December 2018 by American Association of Notaries. The Legal Process Lady seeks to provide timely articles for legal support proprietors to assist them with information and ideas for managing their legal businesses and enhancing their legal educations but makes no claims, promises, or guarantees about the accuracy, completeness, or adequacy of the information contained. Information in this article is not intended as legal advice. We are not attorneys. We do not pretend to be attorneys. Though we will sometimes provide information regarding federal laws and statutes and the laws and statutes of each state, we have gathered the information from a variety of sources. We do not warrant the information gathered from those sources. It is your responsibility to know the appropriate laws governing your state. |
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