The year-end offers the chance for many entrepreneurs to review the business’ economic standing in preparation for the next year. During the month of December, a business’ sales could double or even triple, which can help determine the final profitability of the business.

The year-end should be the period when you should be reviewing your business performance. Knowing your financial standing before the close of year brings you benefits. By reviewing your year-to-date sales, you could estimate how much more in sales you would need to generate in order to surpass your previous year’s record. You may then strategize your sales promotion in order to achieve the year-end goal. It would also be easier to identify the variances year to year if your business has an annual budget, particularly those that are unfavorable to the business and investigate their causes.

If you know your business’ financial report, you may also decide to reward yourself and your investors with dividends. Looking at your sales quota could also help you determine the amount of cash bonus you could allocate to your managers and staff. Setting up an accounting system and getting a qualified accountant or bookkeeper to assist you could help you anticipate your cash flows, dividend requirements and budgets to assure better profitability on your business.

A written sales proposal is very important to help you convince a prospective client that your product or service corresponds to the needs of his business. To help you come up with a well-written sales proposal, here are some guidelines that you can follow:

• Do your research. Know the information about the company to help you know the needs of this particular prospect client. Search for articles about the prospect company and read about their product lines, mission and vision, and key personnel.

• Personalize your proposal. Write a proposal that satisfies the needs of a particular client, not one that sells the products or services. Focus on how your product would benefit the customer rather than what your product or service is, and come up with reasons to show your client why your offer is superior over  those of the competition.

• Make it precise and concise. Make the desired information quickly understood in order to get your prospect client to read your proposal. Present the objectives of the client where your product or service would be needed. Include the unique features and benefits of the product/service to be offered and provide a brief list of your company’s qualifications for the project.