Image by Gerd Altmann from Pixabay
By Anica Oaks
No one looks forward to the end of the year more than small business owners, who are ready to celebrate a year of hard work with the end of the quarter. Before you get too excited about taking time off, make sure your Q4 checklist is complete. Here’s what you need to do to make sure you finish the year strong:
Review the past year’s revenue goals
Did you hit your revenue goals? Now’s the time to review the past year’s goals and set new ones, including both revenue and non-revenue goals. Evaluate your past year’s performance and set realistic expectations for next year. Remember, these should be SMART (specific, measurable, attainable, relevant, and time-bound) goals. The more detail you put into them (including deadlines), the better your chances of meeting them.
Review the office needs
It seems like every year requires office repairs or upgrades. To ensure that you’re able to report that in your taxes for this year, make sure that you review your office for any repairs or updates. Some of the most common and important things to check throughout your office are plumbing, HVAC, and electrical needs. Working in an office with any of these issues can be really frustrating and cause employees to be uncomfortable and decrease employee morale and even productivity. For this reason, it’s important that you review your office for any of these needs and update accordingly.
Update employee information
Experts at Bud’s Plumbing, Heating, Air Conditioning & Electric share that updating all employee information is another part of successfully closing out the year. If you haven’t already, confirm contact information and key employee details with your staff. Next, be sure that their paperwork and contracts are all current.
Do any employees need new contracts or any other paperwork signed before January 1st? By making it a point to iron out these final details, you’ll be ready for the next quarter before the New Year even begins.
Conduct an inventory
Whether you’ve had a successful year or have experienced a rough patch, it’s important to keep your inventory updated. As Q4 comes to a close, make it a point to run inventory checks. This will help you place all necessary orders before the end of the year so you can refresh your storehouses in time for January.
Log all business accomplishments
When you’re running a business, it’s easy to get caught up with everything you haven’t done. While it’s a good idea to keep track of your responsibilities, it’s also just as important to celebrate your successes. Pay attention to everything you accomplished over Q4, so you can close out the year on a strong note and begin the new quarter with a sense of accomplishment.
The end of the year is just around the corner and that means it’s time to do your quarterly checklist. Use this guide to make sure your business is on track for a successful new year.
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Anica Oaks is a professional content and copywriter who graduated from the University of San Francisco. She loves dogs, the ocean, and anything outdoor-related. She was raised in a big family, so she’s used to putting things to a vote. She recommends Bud’s Plumbing, Heating, Air Conditioning & Electric for all your plumbing, HVAC, and electrical needs.
