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Cast your mind forward to the Summer of ’25. It’s January, you might have had some time off lapping up the warmer weather, enjoying a few BBQs, heading to the beach or out on the water, soaking up time with family and friends. But now it’s time to head back to the office. The only problem is, you got too busy pre-Christmas, let a few things slide, your cashflow is looking tight and you’re going back to a handful of headaches. A sure-fire recipe for the holiday glow to wear off fast.

Our advice? Don’t be that person! 

Thank yourself in January (and prolong that holiday feeling) by taking a step back right now to plan how you’ll finish out 2024 on a high note. Here are our key steps to ensure your business heads into the new year in great shape and ready to hit the ground running. 

Cashflow Forecasting: Preparing for the Holiday Period

The lead-up to Christmas is often busy, but things can slow down significantly over the holiday period, particularly over New Year. Now is the perfect time to review your cashflow and ensure you're prepared for any financial obligations during this quieter time.

Make sure to:

  • Review your current cash position and ensure you have enough to cover holiday bonuses, tax payments, and wages through January 
  • Forecast your cashflow for the next three months, factoring in slower income over the holiday period (depending on your industry)
  • Follow up on any outstanding invoices well before Christmas to bolster your cash reserves. It’s traditionally hard to chase debtors in December, so get on to this now.

Planning your cashflow carefully now means you’ll avoid unnecessary stress during the holidays and feel more secure when you return in January.

Year-End Tidy-Up: Get Things in Order

Take a moment to assess your to-do list and tackle those lingering tasks! Putting in the effort now to wrap up any loose ends will pay off in January when you can start fresh. Plus, you'll free up valuable mental space, allowing you to truly enjoy your time off without unfinished work hanging over you.

Closing out the calendar year with tidy books will also give you a head start for next year. This is a great opportunity to ensure you’re as up-to-date as possible, remembering that it’s less efficient to pick loose ends up after the holidays when things aren’t as fresh in your mind.

Organizing your finances now will also make the lead-up to the March financial year-end much smoother and provide a clearer picture of where your business stands heading into 2025.

Set Those Goals: Start 2025 Strong

It’s not just about closing the year well—it’s about starting 2025 well too. January can be a great time to implement new business strategies, so consider what you'd like to achieve in the first quarter of the new year and plan accordingly.

Here are a few ways to get ahead:

  • If your financial year end is 31 March, review how you’re tracking and what you need to do to hit (or exceed) budget for the year, then set your business goals for January so you can hit the ground running when you’re back from the holidays 
  • Plan for any upcoming projects or resource needs early, and make sure your team is aligned with your 2025 objectives
  • Review your processes or identify areas for improvement that you can implement in the new year

Don’t forget to take a break

Unless it’s your peak season and you’re making hay while the sun shines, make sure you take a breather over the holiday season. Do everything possible to recharge those batteries for the year ahead. We guarantee setting yourself up well this side of Christmas will play a huge part in how refreshed and ready to go you feel come January!

If you need assistance with cashflow planning, getting your books in order, or you’d like to book in a strategy session, our team is here to help. Email info@sudburys.co.nz to make an appointment. 

 

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