Closing the Year Strong: End-of-Year Planning Checklist for Entrepreneurs and Small Businesses

The end of the year is the perfect time for entrepreneurs and small businesses to reflect, plan, and prepare for success. This comprehensive guide offers an end-of-year checklist to help you close the year strong and set yourself up for a successful start to the new year.

Jenny Camacho

12/31/20242 min read

Why Year-End Planning Matters

As the year winds down, entrepreneurs and small businesses have a unique opportunity to evaluate their progress, streamline operations, and set the stage for future growth. Closing the year strong ensures that you enter the new year with clarity, focus, and momentum.

1. Reflect on Your Achievements and Challenges

Take time to review what went well and what didn’t. Celebrate your wins and learn from your setbacks.

Action Step: Write down your top achievements and biggest challenges of the year.

2. Organize Your Financials

Ensure your financial records are accurate and up to date.

Checklist: Reconcile bank statements, review profit and loss statements, and categorize expenses.
Tool Tip: Use QuickBooks or Wave for financial management.

3. Review Business Goals

Evaluate the goals you set at the beginning of the year.

Action Step: Mark completed goals, note ongoing projects, and identify unfinished goals to carry into the new year.

4. Tax Preparation

Start preparing for tax season by gathering necessary documents and reviewing tax obligations.

Checklist: Collect receipts, update mileage logs, and review deductible expenses.

5. Inventory and Asset Review

Conduct an end-of-year inventory check and assess your business assets.

Action Step: Update inventory records and schedule maintenance for equipment.

6. Client and Vendor Relationships

Strengthen relationships by expressing gratitude and reviewing contracts.

Checklist: Send thank-you notes, renew contracts, and evaluate vendor performance.

7. Operational Efficiency

Review your business processes and identify areas for improvement.

Action Step: Automate repetitive tasks and streamline workflows.

8. Marketing and Social Media Audit

Analyze your marketing efforts and social media presence.

Checklist: Review campaign performance, update social media profiles, and plan content for the new year.

9. Personal Reflection and Self-Care

As an entrepreneur, your well-being is crucial. Reflect on your personal growth and plan self-care activities.

Action Step: Set personal goals for health, wellness, and work-life balance.

10. Plan for the New Year

Create a strategic plan for the upcoming year.

Checklist: Set new goals, outline key projects, and create a timeline.

Tools and Resources

Google Workspace: For organizing documents and plans.
Canva: For creating marketing materials.

Find more tools in my Stan Store.

Final Thoughts and Call to Action

A thorough year-end review sets the stage for a successful new year. Join my newsletter at stan.store/jennycamacho for free resources, and subscribe to my YouTube channel for business tips and insights.