Well - that time of year is fast approaching - the holidays! For some, it's the merriest, most joyous time of the year. For others, just the thought of a holiday jingle strikes terror in their hearts! For business people, the holidays bring varied responses as well. Many retailers find the fall/winter holiday season to be their busiest, resulting in long hours, tired bodies and a significant amount of profits. Other businesses use this slower time of year to regroup and plan for next year. For all entrepreneurs, the season provides a good benchmarking tool - whether before, during or after the holidays - to sit back, assess last year's business results and techniques, change what didn't work, enhance what did work and overall, plan for next year. Some tips to get through the holidays and end up with a stronger business and a good business plan for 2005:

• Thank you's: Take this opportunity to thank people - your suppliers, customers, staff, service providers (such as bank personnel that cover that overdraft and then call you, the corner deli delivery person who gets there quick, the barber/beautician/nail person who fits you in at the last minute) and other sources of support. And don't forget your family and friends who put up with you throughout the year. Now is the time to let people know how much you appreciate them - not after you or they are gone!
• Business plans: Pull that original business plan off the shelf; dust it off and compare it to today's world. Is it still relevant? Are you following it? Do you even have a business plan? Create one if you don't have one. Update the one you have. Vow to look at it more than once a year.
• Financial assessment/planning: Have you spoken to your accountant or other professional consultants lately (other than to complain about high taxes)? If not- make an appointment and sit down and talk about your company's financial performance last year, your expectations for next year, and how you can achieve them. Make sure to look at each business line/division/area and assess profitability by section. It may be time to jettison unprofitable lines of business in favor of performing ones.
• Insurance: Have you reviewed your company's insurance policies lately? Do you have enough coverage and the right type of coverage? Sit down with your insurance agent and do a comprehensive review based on current and expected conditions.
• Personnel: Every business needs good people to thrive. Hard working, loyal employees are hard to come by and worth keeping. Are your personnel policies and employee benefits all they should be at this time?
• Holiday parties/cards/gifts: Many business owners struggle at this time of year with the question of whether to hold a holiday party, send out cards, acknowledge people with gift items. Well, the answer is - it all depends. These items fall into the "thank you" arena as well as providing an opportunity to promote your business. And, while you look at the effect on the bottom line, don't forget the "good will" effect.

Business during the holidays can be stress free or stressful. It is up to you to set the course for your business. The holiday season can be a great time for you to assess that course, chart any changes and set yourself up for a productive and successful 2005.