As 2022 draws to a close, now is the perfect time to finish the year strong and prepare your business for what comes next. We are not talking about working harder or more often; instead, these are tips for ensuring your business is well-positioned to start the new year on the right foot.
1. Review your year
Reviewing this past year allows you to see what works, evaluate what improvements are needed, and identify trends in your business. With this knowledge, you can use the data to direct your decision-making and focus your effort.
The key is to break it down into manageable chunks and focus on one area at a time. You can check out our post on how to review your business year here: Year-End Review: How to Reflect on the Past to Plan for the Future
2: Define/Refine your Mission, Vision, and Values
Another way to ensure that your business is well-positioned to succeed is to define or refine your Mission, Vision, and Values.
Your Mission Statement should serve as a North Star for the company – providing clarity and direction. It should explain your business’ purpose, target audience, and the transformation you provide to your clients.
Your vision describes what your company will look like when you have reached your goals. It is a long-term view of where you want to be in 3-5 years. To form your business vision, think about what success looks like for your business and create a vivid description that paints a picture of that success. Make sure that it lights you up and excites your soul! No one will be interested in moving toward a mediocre vision.
Your Values are the principles that guide your behavior, decisions, and actions. They are the core beliefs that shape the culture of your company. Then, clearly communicate your values to your employees and integrate them into all aspects of your business.
Defining or refining your Mission, Vision, and Values will help keep you focused and motivated as you finish the year strong and prepare for the next one.
3. Declutter your business: mentally, environmentally, and digitally
Decluttering is essential to business success. As the end of the year approaches, it is time to declutter your business mentally, environmentally, and digitally.
Declutter by reducing distractions, setting realistic goals, and planning your priorities for the upcoming year. It can be helpful to take some time to yourself away from the hustle and bustle of the office to evaluate where you stand with your business and what needs improvement.
Declutter by cleaning up your work environment. A cluttered desk or office space can be a huge distraction. Clear up the space and organize documents to find everything more easily. This way, you won’t spend valuable time searching for misplaced documents.
Declutter by organizing your emails and files, cleaning up your project management and CRM tools, and updating client information.
4. Review your financials
When reviewing your financials, there are a few key areas where you should focus. Start by looking at your profit and loss statement to show where your revenue and expenses stand for the year and give you an idea of your profitability. Also, compare this year’s financials with those from previous years so that you can track your progress over time.
Next, look at your balance sheet to establish how much money is available in your business and what assets you have. Make sure that your liabilities are lower than your assets, as this will help you avoid financial trouble in the future.
Finally, review your cash flow statement. This document will show you how much money is coming in and going out of your business, which can help you identify any potential issues or areas of improvement.
Reviewing your business financials is a great way to finish the year strong. Doing so can help lay the groundwork for success and bring to light potential issues before they become a problem.
5. Audit your processes, automations, and tools
Take the time to evaluate how well your business processes, automations, and tools work together to ensure that current processes run smoothly and efficiently. It can also help identify any areas that need improvement or automation.
Do you have an onboarding process? Off-boarding process? How about invoicing, client management, and testimonial collecting?
Defining these processes will improve your client experience. It is important to document these things and follow the same process each time. Then both your clients and your team will know what to expect.
Tip: If you have a team, meet with them to discuss these processes. What is working exceptionally well? What feels clunky?
Make sure to take full advantage of automation wherever possible. Automating mundane tasks can help free up your time and resources, allowing you to focus on other aspects of your business. Automation also helps create consistency through all your processes, ensuring that nothing is left out or forgotten.
Create a list of all the tools and subscriptions that you are currently paying for or using. By completing this simple action, you can weed out the tools and subscriptions you are no longer utilizing.
Lastly, consider if there are any new processes, automations, or tools that your business could benefit from implementing – including anything from customer relationship management software to project management tools. By evaluating the effectiveness of each of your processes and making any necessary changes or improvements, you can finish the year strong and build a healthier business at the same time.
6. Don’t forget about the goals you have set for Q4
While the start of a new year brings excitement and opportunity, it is critical to remember that the fourth quarter of the year is still a prime time for business planning and execution.
Most importantly: Prioritization is the name of the game.
Check to see what unfinished projects or tasks are still on your plate. Then determine the most important projects to get done with the time you have left this year, and move the rest of your projects to your 2023 plan.
7. Plan for 2023
Planning for the year ahead is another way to finish the year strong. The end of the year is a great time to look back, but it is also an opportunity to start creating a plan for achieving your goals in 2023.
Visualize what you want to achieve and then take steps to get there. Have weekly check-ins with yourself to stay on track with your plans.
The Strategic Planning Method:
If you are looking for a proven method to create a unique and aligned plan, we would love to work with you. Our Strategic Planning VIP Intensive will help you plan where you want your business to go, build a roadmap to get there, and help develop success metrics to evaluate where your business is seeing success.
We will clarify your business foundations, organize all your projects into eight business pillars, and prioritize what to work on for the next 90 days.
Ready to streamline, organize, and build a business you love? Fill out our interest form!
8. Enjoy your holiday season – Be present
The holiday season is a special time filled with joy, celebration, and reflection. To finish the year strong and get ready for the upcoming year, take some time to enjoy the holiday season and be present.
Take some time to relax and reflect
Spend quality time with family and friends, unplug from technology, and take a break from the hustle and bustle of everyday life. Make sure to get enough rest. Reflect on your successes throughout the year and set aside time to journal and record any lessons you have learned.
Take care of yourself
Eating nutritious foods, staying hydrated, exercising regularly, and getting enough sleep are all necessary to your physical health. Carve out time for self-care activities like yoga, meditation, taking a bath, or just reading a good book.
The holiday season is a great time to reconnect with yourself and start making plans for the new year. Enjoy this time by being present, taking care of yourself, and celebrating your accomplishments. Finish the year strong by planning for 2023 so you can create the success you desire!
- What steps are you going to take to finish the year strong?
- Ready to build a plan to move your business closer to your goals? Fill out our interest form here:
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