It’s beginning to look a lot like…
- End of year
- Finances
- Planning
- Reviews
- Client project wrap-ups
Oh yeah, and the holidays.
Whose idea was it to combine year-end with the holidays anyway?
If your fiscal or planning year ends on December 31st, I’ve got your year-end wrap-up meeting checklist ready for you!
Gather up the team, the dog, or the glass of wine and let’s get down to it.
(By the way, even if your fiscal year doesn’t end on December 31st, there is a good chance that you have clients whose fiscal year ends December 31st, so any information you have for their businesses should be factored in.)
You (and your team if you have one) have some information gathering to tackle. It may seem overwhelming, but remember that many of your systems have built-in insights that can help you track down all this information. Schedule yourself an afternoon to turn off your notifications, blare some Mariah, and get to digging.
- Gather financial information. If you have a bookkeeper or an accountant, tag them in to help. It would be helpful to know:
- The estimated year-end gross revenue collected (as in, cash in the door)
- The estimated year-end total booked revenue (this includes contracts that started this year but won’t be paid out until next year)
- The estimated year-end profit and loss
- The breakdown of revenue by program or source (i.e. coaching, events, courses, affiliates, etc.)
- The breakdown of expenses by category to see where money was spent (i.e. salary, technology, marketing, etc.)
- The amount of gross revenue already booked for next year
- Any forecasted or projected revenue for next year
- Prepare a brief summary of the year’s clients that shows:
- The total number of clients served, categorized by program or service
- The average lifetime of a client (how long do they stay engaged in a program or service?)
- Any other relevant information related to clients and client success rates
- Prepare a brief summary of the previous year’s marketing efforts that shows:
- The growth in your mailing list
- The growth in your social media following and engagement, including Facebook groups
- The total number of social media posts and average engagement rates
- The total number of emails sent to your mailing list, average open rates, and click rates
- A report on any paid advertising (total spend, results, etc.)
- Let the team know what they should prepare, including:
- A brief update of progress made towards their assigned annual or quarterly goals. What went well, what got stuck, and what needs some work.
- A brainstormed list of 3-5 dreams, goals, or ideas they would like to see the company accomplish in the next year
- A list of 3-5 processes, systems, or programs they would like to see improved upon in the next year
Make sure to give your team lots of notice when you’re booking this meeting. The end of the year can be a scheduling bonanza, so do your best to be respectful of everyone’s time. (AKA don’t schedule your year-end meeting on December 24th at 3:00 PM please.) Don’t forget: A meeting is not a meeting without great snacks. If you have a virtual team, plan to send them each a box of cookies or a voucher to order in lunch.
- Prepare your agenda ahead of time and share it with the team. Agenda items can include (but are not limited to):
- Reviewing the wins (personal, business, numbers, etc)
- Reviewing and affirming the company mission, purpose, and values, and sharing stories about how you achieved those things this year
- Reviewing last year’s goals and the progress you made on them
- Reviewing your finances
- Reviewing client information (how many, what offers, their results, their feedback, etc)
- Reviewing marketing numbers (growth, engagement, performance)
- Reviewing the core functions of your business related to awareness, lead generation, lead nurturing, conversion, delivery, and client life cycles
- Talking about what went well, what could be improved upon, and where opportunities lie
- Talking about the long term vision of the company, and what you all envision the next year to be/do/have
- Brainstorming any new projects or improvements you’d all like to see or create
- Setting some goals and dreams around the next year
I truly hope you all feel some warm fuzzies during your wrap-up meeting, but please remember to do the tangible, practical step of assigning action items and due dates. The moment the business has been taken care of, bust out that confetti cannon, pat yourselves on the back, and celebrate an incredible year in business!
- Document your goals
- Assign a quarterback or owner of each goal who will be responsible for tracking it and making sure it happens
- Celebrate!!
If you are frozen in your seat and you’re feeling a little nauseous after reading all of these items, have no fear.
Reach out to book a quick power-up session and I will help you get all the information you need for a solid year-end wrap-up.
