End of the Year Boost for Your Small Business

At the end of year, most small business owners feel one of two ways: they’ve either accomplished their revenue goals and are comfortably “in the black,” or they’ve missed the mark somewhere during the year and are in or close to being “in the red.” If you have found that you are missing your revenue goals for this year, there’s one major thing to keep in mind–the year isn’t over yet! You have time to get your business back on track, and set yourself up for a great 2019. After all, you can’t wait until the year has started to begin planning for success.

In this post, you’ll find a list of strategies that could give your small business a boost of energy and revenue!

Support A Cause
Chances are, in your personal life, there are causes you believe in, but you think of your community service activities as something separate from your business endeavors. This does not have to be the case, and can actually help your cause of choice by exposing your clients to their mission. This also gives both current and prospective clients a peek behind the curtain and shows them who is at the heart of your business. In addition to feeling good about promoting a cause you care about, you can also find ways to partner with community organizations to promote your business as well! Offering in-kind services or products to a charity from your small business can also have tax benefits.

Use The Holidays to Thank & Reconnect with Clients

Who doesn’t love a card with warm wishes for the holiday season?! Even the Scroogiest among us enjoys being thought of during the holidays. The fall brings fun, family-centric holidays and no matter what you celebrate, the season is all about giving and appreciating those around you. Sending a card, a small gift, or free product samples as a way to say thank you to your customers is a great way to show appreciation and strengthen the relationship you have with them. You can also use this time to reach out to former customers to remind them that you’re still around should they need your services in the coming year. Taking this step could boost your revenue by securing repeat clientele and even helping you reclaim former patrons.

Run End of The Year Promos
While it may seem counterintuitive to offer discounts as you’re trying to reach your revenue goals, you may find that running promos can boost your customer base and stimulate immediate cash flow. Offering your products or services at a special rate for the end of the year could could attract customers who otherwise may not have noticed or considered your business. This can get you close to your end-of-year goals by boosting your cash flow and help you get new customers!

Prep for Next Year, Review Pricing & Rates
Making preparations for next year by doing an assessment of your current pricing structure and rates can help you reach your revenue goals for the coming year. When looking at why you didn’t quite meet your sales goals you may find that your pricing is too low or too high for your target customer. You might also find that you are exhausting your manpower toward non-revenue generating activities. By doing a full assessment of your profit and loss, your pricing, expenses, man hours, and clientele you can set your business up for success in 2019 through small changes and pivots.

These are just a few examples of ways to stimulate earnings at the end of the year. By taking advantage of the spirit of the season, reviewing your pricing and running special offers you can stimulate cash flow for your business and boost your own energy to tackle the upcoming year!

Written by Desnoyers CPA

Desnoyers CPA

Known for her friendly, outgoing nature and her rare talent for financial foresight, Lydia Desnoyers has been serving individuals and small businesses in Florida since 2010. After earning her Master’s Degree in Accounting from Nova Southeastern University and her Bachelor’s Degree in Accounting from Florida State University, she became a Certified Public Accountant and a Certified Fraud Examiner.

Share this on...Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Email this to someone