2024 Ready: A Year-end Checklist for Business Owners
How is it November already? I know we’re all asking the same question. The new year is right around the corner, and as business owners, there’s a lot to get done before the ball drops.
That’s why we created a strategic year-end checklist to help make sure you’re set up for a spectacular start to 2024.
1. Prep your holiday OOO communication: Is your business closed during the holiday season? Have you communicated those dates with your clients? Get ahead with an email to all current clients and partners by sharing your availability through the end of the year. Do this at least 2 weeks before Thanksgiving (that means now).
Pro tip: If you haven’t already, create an OOO email template and share it with your team. If you already know the dates you’ll be out personally, schedule your OOO email in advance. Consider it one less to-do (we know the list is long!) before stepping out.
2. Decide on your gifting strategy: Are you giving holiday gifts to clients, partners, or employees this year? If you haven’t started yet, now’s the time. Decide who is receiving a gift, what they’re getting, and when you're sending it. The logistics (shopping, printing, wrapping, shipping, signing, etc.) may be more than you think, so assign these tasks to a trusted team member and clear them off your plate.
See this guide we put together last year on some helpful tips for holiday gifts.
3. Clean up your books: Clean accounting is critical for a successful business. If you haven’t already, make sure your QuickBooks or other accounting software is up to date with categorization, reconciliation, etc. We highly recommend hiring an amazing bookkeeper to help. If you don’t have one already, consider looking into one to set your business up for success in the new year.
Touch base with an experienced accountant now regarding your 2023 finances for tax preparation. They can offer you intelligent insights into actions you can take before year’s end to optimize your tax situation (strategic write-offs, funding retirement accounts, etc.)
Pro tip: Go through all your expenses (especially recurring subscriptions) and see if there’s anything you can cut back on. Don’t pay for things you aren’t using or aren’t serving you well!
4. Goal-reflect + goal-set: Every year-end, we take time to goal-reflect and goal-set. When we goal-reflect, we look at the goals we set this time last year and whether or not we accomplished them. We’re objective in understanding our successes and failures and spend time analyzing what went well and what didn’t.
Naturally, this leads to goal-setting for the following year. Are you looking to grow? Wanting to hire? Breaking into a new vertical? Write out a list of 5-10 very specific goals related to your revenue, team, culture, brand, marketing, and growth. Consider writing goals for the business as well as personal professional goals (for example: will you speak at a conference this year? learn how to use a new software? Take a class or further develop a skill?).
We like to do a mid-year check in on goals as well (more on that another time).
5. Preview your pipeline: Finally, do a pipeline check. What does next year look like at a birds-eye view? What can you predict? What’s unknown? Once you have a good sense of what's to come, add in growth projects related to the goals you just set. Looking to increase sales? Block in a marketing plan for the year. Wanting to refresh your website? Find a slower time of year you can start seeking agencies (eh hem, we know a good one). Having a high-level vision for the year will help you plan and attract exactly what you’re looking for at exactly the right time.
Don’t let the hustle of the holidays have you playing catch up in the new year. Set yourself up for a successful 2024 by coming up with a plan and carving out time to nurture the business you've worked so hard to build.