Skip to main content

You’ve worked hard all year, through highs and lows, strong and slow months, exceeding or falling short on monthly or quarterly goals. But no matter what happened, now is the time to enter a new year with hope and determination.

All the ups and downs have led us here, and the 4th quarter is coming to a close. While we know that this season tends to slow things down, it is always a good idea to have a plan.

The last few weeks of the year can be a good time to prepare yourself for what’s coming and where you want to go next. Here are 5 ways to end the year to help you figure out how to close the last few weeks.

Review

Reflecting on the past year is a great way to judge how your business performed and whether or not it was up to your standards. Review your goals and compare them to your budget and numbers.

Did you achieve your goals?

What helped you achieve them?

Did you stay on track all year?

What were the main causes that put you off track?

These are some of the questions you can ask to assess how your business performed and to determine exactly what to do and what to avoid the following year.

Identify Weaknesses

By reviewing your performance over the past year, you should be able to identify weaknesses that may have stalled or affected your performance and goals.

Take your time assessing these flaws; identifying them is critical to eliminating factors that could otherwise slow or impede your progress towards your goals.

It’s also a good idea to involve and listen to your employees about potential weaknesses, as well as brainstorm with them to figure out the best possible course of action to take in order to improve and progress without hindrance.

Consider Staff

Was your staff working efficiently in achieving your business goals? Are they shorthanded? Do you need to recruit an employee or two?

Take the time to assess your staff and determine which positions you need to fill, and think about ways to help your employees grow while growing your business as well. This can help you decide if hiring new staff members is necessary to ensure that you are never short on talent and always ready to take on new challenges and work towards bigger future goals.

Set Future Goals

Having a target to aim for is always a good idea to stay motivated and give purpose to your efforts. Based on how you performed this year, you should have a pretty good idea of what to aim for next.

We always thrive for progress; no one can accept the thought of regression. If we have a business, we want it to grow and improve. Setting both long-term and short-term goals will be determined by a variety of factors, some internal, some external, some you can see coming a mile away and prepare for, and others that will come as a surprise and catch you off guard.

While some will always aim high, it is best to set achievable goals, divided monthly or quarterly, which will lead to the yearly goal. Just remember to always plan ahead and have multiple backup plans, just in case.

Allocate Budget

In order to reach the goals you have set for your business in the coming year, you need to allocate a budget that will help you achieve those goals. Throughout the reviewing process, you can compare last year’s budget to the numbers you’ve achieved and make the necessary adjustments.

Take a minute to think about your goals and the finances needed to achieve them, then make a well-informed decision based on your performance the previous year. You might want to brief your CFO or Senior Accountant about your future monetary plans!

The year is coming to an end, and you’re just about to cross the finish line. But remember, once you cross that line, another race is starting immediately, so make sure to be ready by setting your goals ahead of time, identifying any problems that require your attention, and preparing the ground for your success in the coming year.

Need help preparing for 2023? Contact us.

Need help preparing for 2023? Contact us.. Need help preparing for 2023? Contact us.  

Need help preparing for 2023? Contact us.. Need help preparing for 2023? Contact us.  

Need help preparing for 2023? Contact us.. Need help preparing for 2023? Contact us.  

Need help preparing for 2023? Contact us.. Need help preparing for 2023? Contact us.  

Need help preparing for 2023? Contact us.. Need help preparing for 2023? Contact us.