Startup City Magazine
A monthly magazine for business startups and young entrepreneurs.

End-Of-The-Year Checklist for Small Business and Preparation for the Next Year


End-Of-The-Year Checklist for Small Business and Preparation for the Next Year

As we have reached the final months of the year, it is hard to believe that 2019 is almost over. We are wrapping up an entire decade!

 2019 has been a hard year for all start-ups and businesses. Whether this is your first year, your second, or your fifth, or ten; chances are that you have gone through a huge number of challenges when controlling and running a company.

Although, even if your start-up experienced several bumps over the past few months, as long as it is still running, there is a possibility that you can give this year a happy ending and start the next year even more prepared to face the hurdles of the upcoming year

As is one the way to say hello to 2020, it is vital that businesses take the important actions to remain in compliance and prepared enough to give a happy ending to 2019 and a warm welcome to 2020.

 If you are a small-business owner, you might feel as if you are up to your neck in end-of-year tasks from updating corporate minutes to preparing financial reports, payroll, and inventory and setting goals with the team, these easy steps allow business owners to end the year on a high note and enter in New Year.

End-of-Year Sale

You are about to enter in the last month of the year, still, you have a short at taking advanced of it. Plan a last-minute holiday sale and increase your sale instantly whether you are offering a service or a product. It is great to do some marketing through banners and on social media.

Enter in New Year with New Equipment

Start the New Year with new technology equipment. This time, you will see great deals and discounts on different products. So get what you need at a discounted price and take your business in 2020 with new and modern types of equipment.

Measure Your Success

As you gear up for the New Year, enter the year by tracking your progress. Check the number of sales, customers or deals and evaluate your growth rate.

Plan for Next

The end of the year is fast approaching so start preparing for the coming year. Getting advanced from the year-end sales is important; besides, it is also vital to prepare your business for 2020. Waiting for January to starting your to bringing your work on the track is not a smart choice. Instead, take benefit from the remaining days of 2019 and make your business ready.

Decide Your Goals

Deciding goals does not mean New Year’s Eve resolution that is never fulfilled.

To boost your business growth, decide your goals, ones to which you and your team will be held accountable. Don’t go for any ideal aim instead; decide a business goal that is realistic, achievable and time-bound. Besides, your every goal must be in detailed language exactly what’s to be achieved, by what time point, using which methods and how you can prove you have achieved it.

Meeting with your team members to outline goals is great to set and reach tougher. Utilize the time to create a big-picture plan. This detailed plan will guide you to reach in business and the strategic steps you will have to take to get there.

Budget for Investment

Every business needs investment for growth; from training your team to modernizing your places, you would need to invest. It is better to decide your budget in advance to get the things done properly and timely.

Every business’s situation is unique, so assess your needs accurately and decide your budget accordingly.

Greet Customers

New Year is the perfect timing to let your customers know they are appreciated. You can do this by just sending mail and a greeting card, a box of chocolates or something else as a gift.

Giving something with your company logo and name is great; it will keep reminding the customer about the company.  

The end of the year to enter another new year but it is a key time to prepare for the coming year. There are multiple ways you can encourage people to make a decision and close business before year-end.

In nutshell, you have everything you need to create an amazing life and business. You can start and finish every year strong; you just need to pay some extra attention to a few things.

Follows the above steps; they will help you do whatever it is that you wish to accomplish in your business. Take back your power and get to work creating the business that leads to independence in every part of your life.

How to build a strong team for startups?

Check the e-mail marketing hacks for small business.

How to create a successful sales funnel, step-by-step process.