As the year winds down in East Texas, small business owners across Kaufman, Henderson, Anderson, Van Zandt, and Rains Counties shift into planning mode. December doesn’t just bring holiday sales, it brings one of the most important seasons for evaluating, organizing, and preparing your business for the year ahead.
The Trinity Valley SBDC is here to help you finish strong, tie up loose ends, and position your business for success in the coming year. Whether you’re a retailer wrapping up holiday sales or a service provider finalizing year-end invoices, this guide walks you through a practical, easy-to-follow end-of-year to-do list.
Ready? Here we go!
1. Review Your Financials (It’s Not as Scary as It Sounds)
Your books tell the story of your year: where you soared, where you improved, and what needs attention. Year-end is the ideal time to run reports and make sure everything is accurate before tax season arrives. Take time to review the following:
- Profit and loss statements
- Balance sheets
- Cash flow summaries
- Outstanding invoices and unpaid vendor bills
If anything seems off, now is the time to correct it. And if finances aren’t your favorite part of business ownership, the Trinity Valley SBDC offers no-cost guidance to help you understand your numbers with confidence.
2. Complete a Physical Year-End Inventory
For many small businesses, especially retail, construction, or if you make goods of any kind, year-end inventory is essential. It helps with taxes, ordering, pricing, and spotting what really sells. You can make inventory easier by:
- Counting all products, materials, and equipment
- Recording quantities and values
- Marking items that are obsolete, damaged, or slow-moving
- Updating systems and spreadsheets so you start the new year clean
Inventory isn’t just paperwork, it’s insight. It helps you make smarter decisions on what to stock and what to stop buying.
3. Evaluate Your Pricing and Profit Margins
The end of the year is the perfect time to reexamine your pricing strategy. Materials and shipping costs may have changed (especially if you are affected by tariffs.) Customer habits may have shifted. Labor costs may have increased. Here are some things to ask yourself when evaluating pricing and profit margins:
- Are your prices still covering your costs?
- Do you need to adjust expenses or renegotiate vendor terms?
- Are certain products or services making significantly more (or less) than expected?
The more intentional you are with pricing, the stronger your positioning will be in the competitive East Texas small business landscape.
4. Refresh Your Goals and Business Plan
Don’t wait until January to set new goals, start now, while this year’s wins and challenges are fresh in your mind. Consider refreshing or updating the following:
- Revenue goals
- Marketing plans
- Staffing needs
- Expansion opportunities
- Equipment or technology upgrades
The Trinity Valley SBDC can help you revise or completely rebuild your business plan so you’re operating with clarity and purpose in the new year.
5. Organize Your Digital Life (Your Future Self Will Thank You)
Digital clutter is real, and it can cause unnecessary stress. Year-end is the best time for a clean sweep. Here are a few things to tidy up, delete or move digitally:
- Old files or duplicate documents
- Outdated marketing materials
- Email inboxes and subscriptions
- Cloud storage folders
- Website pages that need updating
This cleanup helps you start the year focused and not distracted by digital “noise.”
6. Celebrate Wins and Recognize Your Team
Even the smallest business has victories worth celebrating and people worth thanking. A little recognition goes a long way. Here are a few ways to celebrate wins, without breaking the bank:
- Send thank-you notes to customers
- Highlight milestones on social media
- Acknowledge employees or contractors
- Celebrate community partnerships
Small business ownership can be tough, and these moments of gratitude help build loyalty and morale for the year ahead.
7. Review Tax Documents and Prepare Early
Even if you work with a tax professional, gathering documents early saves headaches later. No one wants a last-minute scramble in March. Here is a checklist of tax documents:
- W-9 and 1099 forms
- Sales tax reports
- Payroll summaries
- Equipment purchases
- Expense receipts
- Mileage or travel logs
Getting organized early helps you avoid mistakes and ensures you’re taking all available deductions.
8. Update Your Online Presence and Marketing Strategy
Your online presence, rather it is your Google Business Profile, or your website, plays a major role in how customers find you across the Trinity Valley region. Now is a good time to review and refresh the following:
- Hours of operation
- Location details
- Holiday schedules
- New product or service listings
- Social media bios
- Website images, pages, and keywords
The more accurate and engaging your digital footprint, the easier it is for customers in East Texas to discover and support your business.
9. Connect With Trinity Valley SBDC for a Strategic Start
Many small business owners don’t realize how much support is available to them locally. The Trinity Valley SBDC serves all five counties with free one-on-one advising, training, and expert guidance. We are happy to assist you with:
- Financial planning
- Loan preparation
- Marketing and branding
- Technology adoption
- Business plan development
- Hiring and HR strategies
A strong start begins with a strong support team, and that’s exactly what the SBDC provides.
Checking Off (See what we did there?)
End the Year Clear, Confident, and Ready!
The end of the year is more than a checklist, it’s your chance to pause, reflect, and hit reset. By taking these steps, small businesses in Kaufman, Henderson, Anderson, Van Zandt, and Rains Counties can enter the new year organized, energized, and prepared for growth.
For additional information on how to create and complete your end-of-year check list, please contact us at the Trinity Valley Small Business Development Center – SBDC – TVCC – Serving Henderson, Anderson, Van Zandt, Rains, and Kaufman Counties.