The new year – 2021 – is approaching fast, and many would say that it cannot come quickly enough. Without question, 2020 is among the most difficult, challenging years in the history of our country. Tens of thousands of Americans have lost their lives as a result of the deadly coronavirus, and the various governmental shutdowns have wreaked havoc on our state economies. Simply put, most Americans are looking forward to 2020 being over, even though we can expect many of the current problems to continue well into the next year. The end of the year, however, will have some sort of symbolic value; the beginning of 2021 will signify change, an eventual turnaround for the economy and, hopefully, the end of the coronavirus.
As 2021 approaches, naturally you can start to think about the primary business goals you want to achieve. In this post, we will discuss 3 goals for the New Year that every law firm owner should have. Of course, firm owners will have many more than 3 goals for 2021. But these 3 should be near the top of the chart.
Put Safety First
There is a high likelihood that the vaccine for the coronavirus will be distributed throughout the nation in early 2021. This means that, with diligence, the coronavirus may cease to be a significant force in our society by the end of 2021. However, even though this is good news, firm owners should still emphasize the same sort of precautions that have been practiced throughout 2020. Firm owners should emphasize mask-wearing, social distancing, hand washing, and so forth. The health and safety of you and your employees should always come first.
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Reduce In-House Working
This is consistent with the goal of putting safety first. Another thing you should focus on is reducing in-house work as much as possible. The coronavirus shutdowns have forced many firms to convert otherwise in-house positions into remote positions for the sake of safety. As the new year rolls around, you should continue with this practice, and try to minimize in-house working in favor of remote working. Toward this end, you should seriously consider hiring additional virtual employees. Virtual employees are already trained in working remotely and will be able to contribute value to your firm while remaining completely off-site.
Find Ways to Cut Costs
Last but not least on our list of goals for the New Year is cost minimization. Surprisingly, many firms end up losing money simply because they don’t invest the time and energy into finding ways to cut costs. For instance, one strategy you can use to save money is to implement tax minimization techniques. Many firms pay more tax than they have to because they fail to conduct adequate tax research. Take time and research the various tax deductions, credits, and other perks you may be eligible for. If you put in the effort, you can end up saving a great deal of money.
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Again, these are just 3 goals out of many goals for the New Year. Firm owners should take time and think about the other goals they would like to achieve in 2021. But, these 3 goals should certainly be near the top of the list, no matter what. If you’d like to learn more, reach out to Get Staffed Up, LLC today by calling 866-763-2452. Also, you can subscribe to our newsletters HERE.