Three Tips to Surviving the End of Financial Year

It’s every business’s favourite time of the year again… the end of the financial year.  

Your finance team is probably in lockdown right now trying to make sure your accounts are in order ahead of entering the new fiscal year. Your sales team might be pushing to hit those end-of-year targets. Your leaders might be trying to make last minute purchases, or get budgets approved for next year.  

While this is an important time for many businesses, it’s easy to get caught up in the whirlwind of this period and forget to look beyond June 30th. 

Here, we’ve put together three quick tips to help get you through this busy corporate period.  

One: Look beyond June 30th

The world doesn’t end at the close of the financial year. While it is essential to get your books in order and hitting sales targets is important, we also need to keep our heads out of the sand and focus on what’s happening in other areas of the business.  

You should care about the start of a new financial year, as much as you do about ending this current one. Set yourself and your team up for success by taking time out to reassess strategy and plan for the remainder of the calendar of the year.  

Two: Take a look back

We’re already half-way through 2019 and we’re all thinking the same thing: where has all the time gone? Six months can pass in the blink of an eye, so remember to pause and reflect on:  

  • What have you done well in the last six months?  
  • What deserves to be celebrated? 
  • What areas have you not performed so well in and why? 
  • What lessons have you learned? 

Three: Pause

The EOFY is a more stressful time for some colleagues than others, but for those whom it does impact, make sure you give them some time to pause after June 30th. Try and get everyone out of the office for a team-building day, lunch or social event.  

Remember, if you push your team too hard and expect to regain momentum immediately, your team might burn out.  

For more insights into building out your team’s strategy check out the articles below: 

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