5 Ways Small Businesses Can End Their Year Strong

We’re only three months away from the end of 2021, and small businesses across the United States are gearing up for the holiday season. This is an incredibly hectic time for business owners and entrepreneurs, and the beginning of 2022 can slip by in the middle of the chaos, leaving us wondering how to continue a growth trajectory into the new year.

The key to a strong beginning is a strong ending. Take time to prepare for next year now, and enjoy your holiday season with the confidence that you have a plan to move forward with purpose.

Consider Hiring More Staff

If it’s in your budget, take on more qualified staff to accelerate the growth and productivity of your small businesses before the end of the year. 

Too often, small business owners find themselves hastily taking on new employees as the holiday rush sets in, which creates deficits in training, personality fit, and overall value brought by a hire. By pursuing your team’s expertise before things get harried, you can make a more informed decision. 

You may also think about delegating tasks to a consultant. Suppose you feel that outsourcing will help you function better as a business owner and in your personal life. In that case, it’s worth handing over some of your more overwhelming responsibilities– like accounting, payroll, or marketing– to someone else. 

Gather Your Financial Documents

Quarterly financial document organization can make tax season feel like a breeze. Take a day to focus only on gathering receipts, vendor lists, payroll expenses, etc., and create order from the chaos to avoid taming the beast closer to the deadline. 

Gathering financial documents also allows you to go over your budget. You should check on your financial goals, then assess where you over-or under-allocated funds. Start a plan to rearrange your cash as necessary to accommodate needs in the coming fiscal year. 

Start Your SWOT Analysis

Frank analysis and observation of your small business is necessary to keep it headed in the right direction. An overly optimistic view of the reality of your Strengths, Weaknesses, Opportunities, and Threats can create blind spots that, if left unaddressed, can cause your trajectory to go off course without a plan in place to start moving forward again. 

Speak with others about the triumphs and pain points they’ve seen in the past months, then use their insight to set goals for your company that capitalize on your strengths and opportunities while mitigating your weaknesses and threats. 

Make a Self-Care Commitment

You can’t draw water from an empty well, and you can’t be productive if you don’t give yourself space to be someone other than a small business owner. 

Commit to a plan that sets out protected time for family, friends, hobbies, and relaxation. Neglecting your own self-care can cause stress, anxiety, and burnout, all of which can harm your relationships and your business. 

Invest in Your Professional Growth

Whether it’s an online course to grow one of your areas for improvement or working with a business coach to become a more successful leader, your pursuit for professional growth should be at the top of your priority list. 

The end of the year is an excellent time to learn about a new movement, tool, or resource popular amongst others in your position, as it gives you plenty of time to learn everything you can about it before implementing it in 2022. 

Businesses Thrive When They End the Year with a Coach

Business owners can benefit from working with a mentor who has experience and expertise in helping owners and executives take care of their company while feeding their hunger for self-improvement. 

End your year strong by working with Catalyst Group ECR. We are devoted to partnering with our clients to create processes that maximize professional and personal potential, no matter where you are as a business leader.

We provide the framework and guidance, meeting you where you are and helping you get where you want to be.