How to Structure Year-End Planning for Exponential Business Growth

The end of the year often comes with a flurry of activity, but for entrepreneurs, the brain keeps reminding you that you need to spend a few minutes on year end planning!

The problem is that it’s often challenging to know where to start.

Should you look back or look forward? Consider areas for growth or aspects of your business that may need trimming back? What will best move the needle forward and launch you toward exponential growth?

The answer is “yes.” All of these are things that deserve your focus – but not all at once.

How you structure your year-end planning – what you focus on and why – will make a big difference in your success for the upcoming year. This is actually one of my favorite things to do this time of year, so I’d like to share some tips to help you wrap up the deadwood and get ready for an amazing year.

Step 1: Trim the Deadwood

One of the things that is probably on every business owner’s desk is deadwood – old, outstanding projects that just kept getting pushed back throughout the year.

If you haven’t gotten to these projects yet, it’s likely that they’re not emergencies; however, they do need to be cleaned up. They might just need 15-20 minutes, or they might be larger projects, but it’s important to recognize the things that have been lingering and clogging your mental energy.

Take a few minutes to triage what’s there and create a quick action plan – and then get to work clearing them off your desk.

• What needs your attention? Make notes of what needs to be done and calendar in some time to focus on getting these projects taken care of.
• What can you delegate? Write up some clear instructions and hand them off!
• Is there anything that’s no longer relevant? Make notes in case the project ever needs to be brought back to life and file accordingly.

What can you wrap up before the end of the year so you can start next year off fresh?

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Step 2: Review Your Calendar for Staff Coverage

Once you have a handle on getting projects wrapped up and transitioned, it’s time to take a quick look at who will be taking time off for the holidays.

Have you assigned anything essential to someone who will be out? Do you have the coverage you need for the coming weeks?

This is a lesson I learned the hard way – and it’s one that I’ve paid close attention to ever since.

Simply having a system in place for requesting time off and clearly communicating scheduling needs to your team in advance can make a huge difference.

Take a moment to review your calendar: are multiple people asking off for the same dates? Do you have sufficient coverage for client service and projects, or do you need to move anything around? Taking stock of your staffing coverage will help you keep everything on track!

Step 3: Review Your Strategic Plan for the Coming Year

From there, you’ll need to build a tactical plan that will guide you in the actual execution of that strategy. (If you don’t have this plan and strategy in place, please reach out – let’s get you caught up!)

This tactical plan will help you decide which team members to bring in at each point and who to delegate to. It will also help you easily see any gaps in your team: will you need to expand your team or purchase any training or resources to equip your team for success? Which systems will you need to build?

Taking time to plan this out beforehand will make a massive difference in your growth and get you set for an awesome year!

In theory, you’ve already created this document and know some of your big picture goals for the coming year, and you understand the basic strategy of how you’ll reach those goals.

Step 4: Finalize Your Financials

As you’re both reviewing the previous year and looking ahead, make sure you take the time to review your P&L and determine if there are any tax benefits to prepaying various expenses in December, rather than waiting till January.

Remember that training and the systems you decided on in Step 3? Can you purchase any courses or systems packages in December and take advantage of the benefits?

This is also a great chance to review your expenses and start assessing your budget. Are there any changes that would be beneficial for the coming year?

Making these decisions now rather than waiting until the new year is in full swing will not only give you perspective, but also help you start the year with a stronger foundation.

Step 5: Set the Tone for Your Culture and Energy

Your company’s culture is something you have to be intentional about. It will develop whether you’re focused on it or not, but which type of culture you’ll have will depend on what you put into it.

The energy coming from all levels of the business is vital to a thriving culture where people are motivated every day to do their best. This obviously comes more easily when your team members are on board – they can help you implement any changes that might be needed!

This is also a good time to talk with your key team members, to help them evaluate where improvements might be needed in their respective departments as well as in their own methodologies. This can make a huge difference, both in their productivity and in their job satisfaction.

Take 15 minutes to plan out how you can positively impact your team’s energy coming into the New Year as well as how you can inspire your team to be at their best, both for themselves and for their teammates.

Taking the time to work through these 5 steps will help you create a strong foundation and action plan for success and exponential growth in the coming year!