As the new year approaches, now is the ideal moment to reflect on your accomplishments and set the stage for an even more successful year ahead. Whether you've recently embraced contracting or expanded your clientele, take a moment to commend yourself for your achievements. At Icon Accounting, we're committed to helping you reach new heights. Here's our tailored 2024 checklist to ensure it's your most prosperous contracting year yet:
Set your 2024 goals!
A great place to start is to set your goals for the incoming year. Having a goal in sight can drive you to achieve them and push yourself that bit further. It’s easier to work harder and achieve more if you know what you’re aiming for. No matter how big or small your goal is, we are here to help you achieve it. Whether it's financial planning, pension savings, homeownership, networking, or upskilling, we're here to help. If your goal is connected to your contract, you should discuss your strategy with your assigned account manager so they are aware of your objectives and will offer support and suggestions.
Professional Skills Development
As an Independent Professional Contractor, you rely heavily on your own skills as an income generation tool. It is a major part of what differentiates your work from others. While you may have acquired numerous competencies throughout your career, evolving markets necessitate acquiring new skills or refreshing existing ones.
So why not try to master your skill this coming year? Evaluate your existing skill set and pinpoint areas for refinement. And learn from industry trends how you can advance in your field now and in the future. From this, set precise goals for professional development and training. You will be a known expert in your field in no time!
Take the time for a review of your financial health
The end of the year can be a great time to take a look at your financial situation. Have you managed your income as effectively as you could have done soc this year? Do you have efficient savings or an emergency fund in place?
Take the time to discuss your current financial position with an expert. As part of the Icon Accounting service, you will have access to your dedicated account manager to help you with this, along with access to a wealth management partner for a free financial planning consultation for your future. They will offer you a financial review free of charge and get you on the right track for the beginning in 2024.
Try to prepare a budget
Utilize year-end reflections on your spending to draft a preliminary budget for the coming year. While predicting the future is challenging, entering the new year with a rough budget provides a foundational understanding of your financial situation and priorities for the New Year.
Reflection of career and work-life balance
Sometimes you need to take a step back and assess how contracting is working with your life. Consider aspects like work-life balance, income, job satisfaction, and time management. What has this year of contracting taught you? Ensure that your contracting journey aligns with your values and personal goals. Identify areas for change in 2024 based on the broader context of your contracting role and life.
Take time to review your company structure
In line with the above, if you've been contracting for a while, assess your current company setup. Collaborate with your dedicated account manager to navigate the next steps in advancing your contracting career and see if progressing to a Personal Limited Company set-up is the next step for you.
Reflect on Client Relationships:
Reflecting on client relationships is a pivotal aspect of gearing up for a successful 2024. Take the time to carefully evaluate client satisfaction and feedback to understand their needs and expectations for the upcoming year. This process not only strengthens your existing relationships but also allows you to identify specific areas for improvement in client communication. This comprehensive approach to client relationships underscores the commitment to not only meeting but exceeding client expectations, ultimately contributing to sustained professional success.
Get in touch!
Even as an independent professional, you don't have to navigate financial responsibilities alone. Reach out to our team to learn insights into the changes that should be on your radar in the New Year. Let us provide the financial guidance to help shape your 2024 checklist and assist you in achieving your contracting and financial goals.
If you are a professional that is interested in hearing more about the benefits of working with a specialised accountant, please reach out to our team by emailing firstname.lastname@example.org or by calling 01-8077106.