How to End the Year Start the New Year on the Right Foot
As we approach the end of 2024, you might find yourself in one of three states of mind: scrambling to hit year-end goals, relaxing after surpassing them, or feeling stuck and frustrated because you're far off the mark. Wherever you stand, it’s not too late to set yourself up for success in 2025. Here are actionable strategies to help you close the year with intention and start the new year with clarity.
1. Conduct a Year-in-Review
Take a deep dive into your business performance over the past year. Month by month, ask yourself:
What was my revenue?
What were my cash inflows and outflows?
What did I sell, and how did I sell it?
Once you've gathered this data, identify trends:
What worked well, and why?
What didn’t work, and why not?
Focus on replicating (not duplicating) successes. If certain conditions can't be repeated—like a specific event or one-time opportunity—think creatively about how to achieve similar results.
2. Eliminate What’s Not Working
Just as important as identifying what to replicate is figuring out what to stop doing. Assess areas where you're wasting time, money, or resources. Examples might include:
Products or services that don’t sell well.
Ineffective marketing strategies.
Processes that drain resources without delivering value.
By letting go of what no longer serves your business, you create space for new opportunities and innovations.
3. Set and Communicate Your Goals
Define clear goals for 2025. Then, bring your team into the process. Share your vision and invite them to craft their own goals aligned with the business’s objectives. This fosters ownership, creativity, and collaboration, turning your team into intrapreneurs who actively contribute to the company’s success.
For example, if your goal is to grow revenue in a specific product line, ask your team for their input:
What should we stop doing?
What should we do more of?
What new strategies could we try?
When team members feel empowered, they’re more likely to stay engaged and contribute fresh ideas that drive results.
4. Take a Break
As business owners, we often pride ourselves on working non-stop. But as we head into an unpredictable and potentially challenging 2025, it’s vital to recharge. Whether it’s a weekend or just a day off, stepping away from work allows you to return with renewed energy and perspective.
Remember, the best-laid plans won’t matter if you’re too exhausted to execute them. Give yourself permission to rest—you’ve earned it.
Final Thoughts
The end of the year isn’t just a time for reflection; it’s an opportunity to lay a solid foundation for the future. By reviewing your year, refining your strategies, setting clear goals, and taking time to recharge, you’ll position yourself to thrive in 2025.
If you are ready for 2025 to be record breaking in your business, then you must join the 2025 Growth Formula Workshop: The BEST Planning Workshop for Small Business.
