End Of Year To-Do's For Your Small Business

End Of Year To-Do's For Your Small Business

Daun Jacobsen - Thursday, December 01, 2016

This time of year has many thoughts and emotions wrapped within it I’ve found that being proactive with my business needs alleviates unnecessary stress during this season. . My hope for you is that you can step back, look around, and appreciate all of the joy that awaits you.

Here are five simple steps that often get lost in the busyness of this time of year. If followed, you’ll be breathing deeply and even relaxing in no time! 

1.  Review Your Finances:

 Your year- end business review goes smoothly when you’ve been engaging in good record keeping practices all year long. Gather the necessary documents to make sure everything is in order (no matter if you have an accountant, do your own books, use a cloud based software, or a combination of approaches). To ensure your books are in order, pull together your current balance statement, income statement, cash flow statement, and any other financial activity reports (i.e. loans and repayments).

2.  Prepare Tax Documents For The Upcoming Year:

 Following the theme of finances, more preparation makes for fewer headaches during tax time. Some documents you’ll want ready to go are: T4, all of your receipts, financial statements, and records from filing in the previous year.

3.  Check In On Your Goals:

Do you remember the goals you set and resolutions you made at the beginning of this year? Most likely, you wrote them down. Maybe you wrote down measurable goals such as growth in sales, new products launched, and penetrating a new market. Perhaps you set professional development goals like completing a course or certificate program. Now’s the time to reflect upon these goals and targets you set.

  • Take some time to reflect on the goals you set. Now that almost a year has gone by, do you think the objectives are as important now as they were when you set them? Why or why not?
  • Were the goals attainable?
  • How did you attempt to reach these goals and targets (the steps you took)?
  • Which goals and targets weren’t met? Why not?
  • Were your goals too easy or too challenging?

4.  Reflect On Your Learning And Success: 

 It’s time to celebrate your achievements and victories! Equally important, you’ll need to identify tough seasons and the lessons you learned from them. These two questions will help you in this reflective process:

  • What went well? (Don’t be shy) 
  • What didn’t go well? (Maybe you’ll want to solicit the help of a team member to help with this one)

5.  Plan Ahead For Next Year:

 It will take you some time to complete the previous steps of preparation and reflection. However, I believe you will be pleased you did so. Now it’s time for some fun as you look forward to the New Year. Each year brings numerous opportunities, possibilities, and excitement. Set your new business goals and targets. Review your business plan to make sure the new goals are in alignment or if you need to make some revisions.

The sooner you get to these simple tips, the sooner you can enjoy this season with your friends and loved ones. Make sure to end 2016 on a strong, positive note. You won’t be sorry! 

I'd love to hear your questions, comments and experiences, please leave a comment and we'll reply, below.


PS. If you're ready to gain some clarity and a written step-by-step plan to reaching the next level in your business and income, we're here to help. Grab a slot on our calendar and we will explain exactly how partnering with Fyrefly Media to write up a Strategic Business Blueprint for your unique business can quickly bring focus, increase your revenue and get you where you're going faster than ever before. Chatting with us free of charge, "sales-sleaze" free and comes with a complimentary comprehensive report of your current online business footprint. (This is the same quarterly report we draw up for our clients and usually charge $250 for).





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