kavogan, Author at System Envy Blog

5 Things I Do To Wrap Up My Year as an Entrepreneur

by kavogan | Dec 15, 2021 | Sales Funnels

Being an entrepreneur also means being in a constant state of growth, huh? From goal-setting to income to hiring, it’s like there’s always something new to try and to embrace.

It’s the best.

But, it’s also why I love the end of the year as an entrepreneur so much. At the end of each year, it’s the perfect time to reflect, to put things in order, and to slow down — and we allll need it.

(Especially after this year, am I right?!)

In fact, I try to be really intentional about how I spend the last bit of the year in my business. It’s how I force myself to look back and slow down, and it’s also the best method I have to start the *next* year off on the best foot possible.

Here’s why…
Purposeful, intentional moves are the very best method that any of us have in the entrepreneurial space. I know firsthand how hard it is to slow down and take a few breaths — but I also know firsthand that forcing myself to take that time is exactly how I’ve been able to really move my business forward.

So, here’s my challenge to you: before this year is up, promise yourself that you’re going to give yourself some time to wrap up loose ends and set the stage for the best next quarter possible.

You deserve it. 🙂

5 Things I Do to Wrap Up My Year as an Entrepreneur

There are 5 main things I focus on at the end of the year, and they’re in 3 main buckets: finance, goals, and rest. Plus, when you really think about it, those are really the 3 main buckets that will push your business forward more than anything else.

Here’s how I fill all 3 of them before the end of the year:

1. Gather all of your financial goodies for your bookkeeper and accountant.

Here’s how I fill all 3 of them before the end of the year:

Make sure all of my subcontractors have a current W9 on file (and make sure I have their updated contact information, too!)
Gather all of my deductions paperwork (student loan interest, childcare, etc.)
Download my profit statements for the year
Make sure my accountant has access to Quickbooks

And, to make it even easier, I always create a folder on my computer desktop called Taxes [Year]. Then I can just drag and drop things as needed into the folder, and it’s easy for me to find when it’s time!

2. Review your revenue generated against goals.

The end of the year also means that it’s the end of your fiscal year, too — which means it’s the perfect time to review your revenue, your profit, your loss, AND your goals.

So, ask yourself:What are the hard numbers? How do these line up against the goals you set at the beginning of the year?

This isn’t necessarily the most *fun* thing to do (unless you love numbers 🤓), but it’s pretty dang important. Plus, reviewing profit and loss is a huge eye-opener — and it’s the perfect time to start setting goals for your next go-round.

3. Make any business purchases that would qualify for tax deductions.

Business purchases = business expenses… and business expenses = tax deductions.

(And we loooooove a tax deduction, huh?!)

Before January 1st rolls around, consider making any business purchases you may need (or want). This can be as big as a new work computer or as small as a restock on printer paper — just make sure you purchase it by the end of the year so that you can write it off on your taxes. Woohoo!

4. Make a plan for the first few weeks of January.

So, there’s nothing better than taking some time off to celebrate the New Year… but there’s also nothing worse than feeling post-New Year anxiety, either. Your job? Make a plan for the first few weeks of January, if not the first quarter. This will help you feel like you have a plan to hit the ground running, and it’s a big anxiety reliever, too.

Here are a few things to plan out:

What are your Q1 goals?
What will your first month of the year look like?
Do you have any standing or planned meetings? Go ahead and record them in your calendar.
What do you want to do differently in the New Year?

Take as much time as possible off around the holidays.

Your next job? Stop. Working. Do some planning, get your life together, and then close that computer of yours. Rest, relax, and recharge. Spend some time with your family and friends, go get yourself a massage — heck, go on a trip! Just intentionally plan to take the stress off your shoulders and start the New Year on a clean slate.

5. Take as much time as possible off around the holidays.

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There you have it! The 5 things I always do — and that you should, too — to wrap up a busy year and start a new one! When you focus on these things, you’ll be ahead… and that makes such a huge difference. Really, there’s nothing better than closing a chapter and feeling prepped to open up the next one, and this is how you do it.

What you’ll find behind the curtain of my Facebook™ Ads business, is someone who loves systems, strategy, family, fishing, flipping houses, interior design, everything Southern, animals, a hefty dose of sarcasm, Instagram stories and some of the most amazing clients on the planet.