Top 5 Things for Your Business's End-of-Year To-Do List

Every small business owner should put together an end-of-year list with a mix of tasks to get done before 2024 wraps up.

Adding more to an already busy schedule may seem implausible, particularly given a holiday season is near, but it's imperative to make time to plan for necessary and wish-list items that further your business goals for 2025.

 

"Devoting some attention to your business not only helps you end the current year on a high note, but also sets you up for success in the new year," explains a QuickBooks blog.

Here are five items to put on your end-of-year checklist.

 

Staff & Culture Assessment

A year-end examination of your staffing and company culture could produce big rewards for your small business in 2025, including increased productivity and morale, as well as bolstered recruitment efforts.

Check that your current staffing level can carry you into the new year, and whether any changes need to be made, whether that's reassigning roles or adding employees.

Also, make sure everyone has the tools and support they need to do their jobs effectively and efficiently, as there may be educational and other continuous development opportunities that could help strengthen your team and business.

For example, skills-based or leadership training, team-building activities or mentorship options, says Gary Romano, president and CEO of Civitas Strategies, in a Forbes Business Council post.

Also, this is a good time to look at your company culture. You may need to explore more paths toward creating the work environment you envision for your business in 2025.

"Can you provide new benefits that will relieve team members' worries or help them feel valued? Investing in your people can pay dividends through improved retention and recruitment."  Romano adds.

 

Vendor Update

If you haven't reviewed your vendor lineup recently, this is a housekeeping task that should definitely be on your list — you'll be all set for orders and payments in the new year.

Weed out the vendors you no longer use and add new ones to create your active list for 2025. If there are enough non-active vendors that you'll use in the future, update their information and move to an archive file for later access.

Doublecheck that information for every vendor is accurate and updated with the most current contact and company name, phone number, email address and any other information pertinent to contract services and invoices.

"If time permits, evaluate your vendor relationships and look for opportunities to negotiate better deals in the new year," says the QuickBooks blog.

 

Employee Incentive/Bonus

Some business owners schedule annual reviews this time of year and may tie raises and/or bonuses to that assessment or to company or team performance.

However, if that's not the case for your business, see if there's something you can do to reward your employees for their contributions over the last 12 months.

That reward could be in the form of paid time off, flexible schedule or financial, explains the QuickBooks blog.

"A year-end reward or holiday bonus is a good way to boost morale and increase worker satisfaction as you head into the new year."

 

Run Website Check

Small business owners who do e-commerce understand the importance of running a thorough website check-up to prepare for the anticipated busy holiday shopping season.

But keeping your website fresh and updated should be a given for every small business — for many customers and potential customers your website represents a first impression that is critical that could prove critical to the success of your business.

Keep that in mind as you analyze your website. Doublecheck its accuracy and experience its functioning abilities and appearance as though you are the customer  — click through links, and fill out contact forms and so on.

See this checklist for tips on a website refresh.

 

Customer Awareness

This could be a good time to examine your "customer avatar," says Romano in the Forbes post. In other words, determine if the general representation of your "ideal customer" still holds true.

"As small businesses evolve, so too do target customer pains and gains. Reexamine your ideal customers," he says.

"Have their behaviors changed? Are there new customers you can serve or old ones who are no longer relevant? Once you have answered these questions, you can better align your services and products to meet customers' needs."

 

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