10 New Year To-Do’s for Small Businesses | The Alternative Board

The start of a new year is one of the few natural pauses in the business calendar. It's seen as a moment to step back from day-to-day demands and take a clear-eyed look at what’s working, what isn’t, and what needs attention next.

Rather than charging ahead on autopilot, use this time to reset priorities and clear lingering obstacles. The following checklist highlights ten areas that can help position your business for a stronger, more intentional year ahead.

New Year Checklist for Small Business Owners

As a small business owner, you're used to making every moment counts. While the first few weeks of the year can feel like kickstarting a cold car in winter, let's reflect on these ten areas of business alignment and put yourself in the best position heading into the belly of the new year.

1. Revisit Your Strategic Plan

Begin by reviewing the strategic objectives you set last year.

Which goals were met? Which fell short — and why? Were the obstacles internal, external, or a mix of both?

Use these insights to refine your strategy for the year ahead. Clarify what success looks like, determine what needs to change, and identify any new objectives worth pursuing. Strategic planning isn’t a one-time exercise; it’s an ongoing discipline that benefits from outside perspective and accountability.

2. Take Stock of Personal Goals and Work-Life Balance

The new year is also a natural time for reflection beyond the business itself. Consider whether your company is supporting the life you want — not just financially, but personally.

Are you spending your time where it matters most? Are stress, workload, or boundaries out of alignment? Small adjustments in structure, delegation, or priorities can often make a meaningful difference over the course of a year. Taking hold of your work-life balance early in the year will keep it from spinning out of control when things become busier.

Want additional insight? Read 4 Step Guide to Strategic Planning now to learn more

3. Pressure-Test Your Revenue Strategy

If your business is slower at the beginning of the year, this is an ideal moment to focus on revenue planning. Put yourself in your customers’ position. What pressures are they facing? What problems are most urgent for them right now?

Look for opportunities to better align your offerings with customer priorities — whether that’s through new services, bundled solutions, pricing adjustments, or clearer messaging. Revenue growth often comes from sharper relevance, not just more activity.

4. Finalize Your Budget

A clear, realistic budget is foundational. If yours isn’t finalized, make it a priority. If it is, revisit it with fresh eyes.

Pay particular attention to how resources are allocated across marketing, sales, technology, and staffing. Understand how competitors are investing and whether your spending aligns with your growth goals. Budgeting isn’t just about cost control — it’s about intentional investment.

(For a good primer on small business budgeting, see 6 Steps to a Better Business Budget.)

Looking to raise money? Best Ways to Secure Capital for Your Business now to learn more

5. Reconnect with Customers

The new year is a perfect time to reinforce customer relationships. A simple message of appreciation can go a long way, especially when it feels unexpected and genuine.

Consider reaching out not just to say thank you, but to listen. Surveys, conversations, or informal check-ins can reveal unmet needs and opportunities for improvement. Customers are often willing to tell you how to serve them better — if you ask.

Here’s some advice from TAB member Tracy Fisher on understanding customer needs: "Every time you talk to a Customer you should inquire whether there any unfulfilled needs of the Customer. This simple step will educate your company on what additional products or services to provide in addition to your current mix."

6. Consider How to Streamline Operations

Operational clutter tends to build quietly over time. The start of the year is a great opportunity to simplify.

The five S’s stand for: Sort, Straighten, Shine, Standardize and Sustain.

• Sort: Remove anything that isn’t necessary for doing the work effectively.

• Straighten: Organize what remains so everything has a clear, logical place.

• Shine: Keep work areas and systems clean to surface problems and reinforce good habits.

• Standardize: Establish consistent processes so organization and efficiency are maintained.

• Sustain: Build accountability and routines that keep improvements in place over time.

By applying each step in order to your work areas, you end up with streamlined spaces that contain everything employees need to do their jobs efficiently. Although 5S was originally designed for manufacturing environments, it works for any work area that could use a little decluttering.

7. Evaluate Your Team

Employees are your most important asset — and also your biggest responsibility. Ask yourself whether you have the right people in the right roles moving into the new year.

This doesn’t automatically mean making changes, but it does mean being honest. Are expectations clear? Are strengths being used effectively? Are there gaps that need to be addressed through hiring, training, or restructuring?

Do your employees enjoy work? Download Easy Ways to Improve Your Company Culture

8. Clean Up Open Projects

Unfinished projects drain focus and momentum. Review your outstanding task lists and ask your leadership team to do the same.

Decide which projects need clear deadlines, which should be paused, and which can be removed altogether. You may find that many items no longer matter — and others finally move forward once ownership and timelines are clarified.

Of course, this may not be possible in all cases, but you might be surprised at how many items fall off the list simply because they’re no longer important – not to mention how many get done because they have a looming due date!

9. Performance Reviews/Expectations

Even if formal reviews happen later in the year, now is a good time to revisit goals and expectations with employees.

Clear communication around priorities, success metrics, and development goals reduces confusion and builds trust. Two-way conversations — including feedback from employees to managers — often surface insights that improve performance on both sides.

Here’s a performance review idea from TAB member, Richard Duggan: "When scheduling an employee performance review, I always ask the employee for their feedback on my performance as well. Not only does it validate their experience and company involvement, it also generates some great ideas for me, too."

10. Celebrate the Reset

Finally, don’t skip the human element. Mark the new year in a way that brings people together and reinforces appreciation.

Whether it's an office gathering or just a way to remind your employees that they are appreciated, take advantage of the new year and hold a special event for employees. It doesn't have to be expensive, just something out of the ordinary that brings people together, and reminds everyone that there’s more to their relationships than “work."

Understanding the Effects and Expectations of a New Year

A new year won’t fix everything on its own — but used intentionally, it can provide clarity, momentum, and focus. This checklist isn’t about doing more. It’s about doing the right things, with purpose, as you move forward.

Small, deliberate actions taken now tend to compound over the months ahead. When priorities are clear and distractions are reduced, progress becomes easier to sustain. By revisiting the fundamentals and making thoughtful adjustments early in the year, you give your business a stronger foundation for whatever comes next.