How Denton entrepreneurs can build business momentum before new year | State

Many small business owners outside of retail experience a slowdown in operations during the fourth quarter of the year. December is designated as National Write a Business Plan Month, which is a perfect opportunity for business owners to review their current performance and set goals for the coming year.

While drafting a formal business plan isn’t necessary, defining a clear business strategy and taking deliberate steps to plan for a successful 2025 are crucial.

Before looking forward to 2025, take the time to evaluate the year that is ending. What worked well, what kind of challenges arose, and how could they have been handled differently?

Valuable insights into what worked and what needs to be changed will help develop the 2025 plan.

Review your financial plan to ensure it supports your business strategy. Does your 2025 budget (did you even prepare one?) consider things such as projected revenue streams, recurring expenses and areas of improvement? Planning your cash flow for the year should also be developed, and any gains or shortfalls that require supplementing should be identified.

Setting clear goals is essential for defining your goals for the next year. Keep your goals realistic and decide what you want to achieve in the next 12 months. The SMART framework — specific, measurable, achievable, relevant and time-bound — helps guide your goal-setting process. By defining your goals this way, you can outline the steps needed to reach them, what resources you will need to attain them and how to effectively get there.

Preparing a SWOT analysis — strengths, weaknesses, opportunities and threats — can help you identify trends and opportunities in your industry. It highlights your business’s strengths, areas for improvement, potential opportunities and external challenges to mitigate. A SWOT analysis provides a holistic view of the business and helps entrepreneurs make data-driven decisions. It is an excellent tool for planning, whether launching a startup, entering a new market or refining an established business’s strategy.

Use December to build your 2025 marketing strategy. A content calendar can help you plan campaigns around awareness months, industry events and social media themes. Determine what marketing channels are working best for your business — email marketing, social media or attending live events — and keep what is working. Creating your strategy now for the first quarter will make the transition to the new year much easier.

Building your plan now allows you to refine your ideas, make adjustments and enter the new year with clarity and purpose. Taking the time to reflect, strategize and set goals will position your business for success in 2025. Business planning is an ongoing process, and starting now will lay the foundation for a year of growth and achievement.