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End-Of-The-Year Checklist for Entrepreneurs

Entrepreneurs, it’s that time of the year again! It’s time to go over your end of the year checklist. Here are 10 areas you should look at and take care of before the year runs out:

  1. Revisit your goals and mission: Review the goals you accomplished this year, and set realistic goals for next year.
  2. Review your books and create a budget: Meet with your accountant. Review expenses, profit and loss statements, etc. Pay your taxes and clear your debts. Create a budget; It’s not too early to plan your budget for next year. With insights from this year’s finances, prepare a budget covering every aspect of the business.
  3. Prepare End-of-Year Performance Report: prepare a report highlighting key achievements of the past year and also giving guidance and quick insights on upcoming products, services, offers, etc for the new year. This report can be presented to customers, partners, investors, consultants etc.
  4. Say Thank you: Give a heartfelt end-of-the-year thank you to your customers, employees, vendors, partners, consultants, family, etc who have contributed to your growth this year. You can go a step further by sending gifts.
  5. Review your marketing campaign: It takes marketing to bring customers in and it takes marketing to keep them. Analyse this year’s marketing plan; what worked and what didn’t work? What new strategies will you be introducing next year?
  6. Count your inventory: Do an inventory on your goods, office equipment, tools. Replace damaged ones and repair faulty ones where needed.
  7. Check and update your technology: upgrade your software/technology. Backup important files and documents in multiple places. If you have a business website, make sure all tabs and links are working properly.
  8. Reward your employees: Whether you are having a holiday party in the office or giving out bonuses or gift cards to your team, the end of the year is the time you should thank your staff for all their hard work.
  9. Give your brand a makeover: If needed, redesign your website, design new complimentary cards, change your product packaging, get new signage, posters, etc.
  10. Rest: You’ve worked very hard this year. Take out time to rest, go on a vacation, spend time with family or finally get you a boo!

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