The end of the year is a few weeks away, are you asking yourself “what should I be doing at the end of the year for my business?”. The end of the year is a busy time with all the holidays, so make sure you are making time for your business to make your life easier. So when January starts, you don't have a ton of catch-up when you are drained from all that “family time.” I recommend getting your accounting in order, reviewing the past year and planning the next year, and making time to rest and recharge.
Starting the year off with a pile of receipts does not sound like a task anyone wants to do after traveling and spending time with friends and family. Do your future self a favor and make sure you sit down and get all of your expenses and income logged. If you don’t know where to start, check out our blog that covers how you can master your business accounting with 3 activities. Getting your books ready now will give you the feeling of capping off the year, and make your life way easier when it's time to file your taxes.
Review and Planning
The nice thing about the holidays is that everyone is busy finishing up internal work, instead of booking meetings. Take advantage of this and do some internal work as well. Take some time to review how your year went, did you hit all your goals? And if not, what happened and what can you change to hit your goal next year?
Since you are already reviewing what goals were and weren’t completed, keep up your momentum and start making goals for the next year and planning how to reach them. If you need some help with planning and road mapping, take a look at our post where we provide questions to help break down the road mapping process.
Rest and Recharge
Regardless of whether or not you get through the accounting, reviewing, and planning, you need to make time to rest and recharge. Being a founder means being a leader, and the number 1 contributor to your business. You can’t be the best in these areas if you are burnt out and strung out. Make sure you are finding time during the holidays to rest, and spend time with your family and friends. If you are looking for some science around rest and sleep, check out Lex Fridman interview 164
The end of the year is a strange time when everyone is in crunch mode, but the business is running on an odd type of auto-pilot. Take advantage of this auto-pilot so that you can step away and get your accounting in order, do your own “performance review”, and create your plan for the next year. When it's time to step away, remember to be present with your family and loved ones, and do what you need to do to get your rest to feel re-energized to kick the next year off.
- Cody Jung, Dium founder.