6 Things to do to Wrap Up Your Business Year
The end of the year is a busy time for most businesses. You're probably looking forward to breathing a sigh of relief that you made it through another year, but you also have to get organized before the new year starts. Since the end of the year is often a hectic time, it's important to plan ahead. Here are some tips to help you end your business year with a bang!
Review your goals and plan for next year.
Carry out a SWOT analysis (strengths, weaknesses, opportunities and threats) of the past year to see how well you did and what worked through the year. Look at your industry to see what's trending or changing there, and look at your business to see what needs to change.
Take time to plan out quarterly goals so that you can meet them with confidence. This will also help keep things organized throughout the year so that when it comes time for planning in December of 2023, you'll feel like you've been working towards many long-term goals instead of just coasting through the year!
Tie up loose ends.
At the end of the year, it’s important to tie up any loose ends you may have in your business. This will make sure you don’t start next year with a lot of problems that would keep your company from running smoothly.
For example, if you have clients who haven’t paid their bills, it's important to send them a friendly reminder before the year ends. If there are any contracts that need to be signed or paperwork that needs to be filed with your state government before the end of the year, make sure you get those done as soon as possible.
Set the tone for the new year.
The first month of the new year is important because it sets the tone for the rest of the year. If you open up strong, then you’ll have momentum on your side as you move forward into the rest of the year. On the other hand, if things start off poorly or are just mediocre (at best), then this can be a difficult mindset to shake off and get out of. It’s important that you plan towards hitting some key targets in the first month of the year. If you can do this, then it will be much easier for you to keep up the good work throughout 2023.
Meet with your team.
One of the best ways to prepare for a new year is by meeting with your team. This can be done either as an annual event or during the last week of business before the break. Meetings are also a great way to get your team members' input on how things have gone this year, what they're looking forward to next year and any concerns that arose throughout the current year.
As a leader, it's important that you take time to listen to your employees and understand their thoughts on how things went this past year so that you can take them into consideration as you think about the next steps in terms of goals and roles within the company.
Check-in on your marketing efforts.
This is the time of year to check in on your marketing efforts. Are you spending time on the right things, platforms and audiences?
If you've made any changes to your campaigns recently, take this opportunity to evaluate whether they're working or if they need additional attention.
Reviewing a campaign's performance not only helps you make adjustments but also helps prevent wasting time on things that aren't worth it in the new year.
See if your company can get involved in charitable giving during the holidays.
Take advantage of your resources and give back to the community by donating a percentage of sales to a charity, organizing a food drive for a local shelter or sponsoring a family in need.
It can be hard to keep your business organized during the holidays, but it's important that you do. It's a good idea to take time and look back at what happened in 2022, so you can have a better idea of where you want to go in 2023. We are routing for you and all the amazing things you will accomplish with your business in the new year!
Are you an overwhelmed entrepreneur who needs help building your business? Enroll in the self-paced Blaze Business Intensive course for entrepreneurs today!