A checklist is a great way to prioritize tasks – and a good checklist makes sure you don’t miss something critical or let important things go. In business, an end-of-the-year checklist is critical to a strong finish for the year, and can help you get ready for a profitable year ahead!
Six Key Tasks to Include on Your Year-End Checklist
Some companies coast through the end of the year. People go on vacation, everyone is celebrating and it’s hard to stay focused. Retailers rush through year-end; it’s time to make a profit! But there’s more to success than that. It’s important to take the time to prepare your business for the coming year – and beyond.
Here are six tasks to include on your year-end checklist.
- Books and Record-Keeping – Close out the year by getting your books ready for an audit and fixing any outstanding issues from the past year. Even if you don’t get audited, it’s a great way to pay closer attention to process, and find better ways to track time, costs and revenue.
- Hiring and Training – Review your processes for hiring, on-boarding, training and retaining new hires. Start the year strong by hiring any new employees you might need in the coming year.
- Sales – Review your past two years of sales to set more accurate goals for the coming year. Also, look at your processes. Determine if they match up with your sales goals, then adjust. Explore ways to reduce cycle time, increase value, and develop better pre-qualification of prospects.
- Marketing Plan – Adjust your marketing plan to support your sales plan. Include checks and balances to make sure your efforts translate into more conversions and sales.
- Business Processes – Compare what you do and how you do it with your top competitor. Identify more efficient ways to maximize your differences and make them more apparent to influencers, customers, and leverage what you’re already doing.
- Goals – Put this last on your list, but make it a top priority. Adjust your cost and revenue projections to match up with your goals and plans. Re-examine your long terms business goals.
Take the time this year to do the work and you’ll be more profitable as well. It will take a little time, but it will be more than worth it!