The new year is here, and with it comes a fresh start for small businesses in Tacoma and the greater Puget Sound area. As Q1 begins, now is the perfect time to set your business up for success with a clear plan and focused priorities. This checklist will help you take the right steps to make 2025 a prosperous year.
Define Your 2025 Business Goals
Start by setting clear, actionable goals. Whether you aim to expand your client base in Tacoma, introduce a new product or service, or streamline operations, having measurable objectives gives you a roadmap for the months ahead.
Pro Tip: Use the SMART goal framework—Specific, Measurable, Achievable, Relevant, and Time-bound—to ensure your goals are practical and focused.
Refine Your Processes
Review your current workflows and identify areas where efficiencies can be improved. Could you benefit from automating repetitive tasks? Are there tools that could help streamline invoicing, inventory management, or customer communication?
Local Insight: Many small businesses across the Puget Sound region rely on tools like QuickBooks and Asana to streamline operations and enhance productivity. At J. Ott Business Solutions, we go a step further by helping you select and implement the accounting tools that best suit your business needs, ensuring you’re set up for success.
Conduct Team Reviews and Set Expectations
If you have employees, schedule one-on-one meetings to review their 2024 performance, discuss their goals for 2025, and identify growth opportunities. A motivated and aligned team is a cornerstone of success.
Tacoma Tip: Take advantage of local professional development resources, like workshops at the South Sound SCORE Chapter, to invest in your team’s growth.
Evaluate Your Financial Health
The start of a new year is the ideal time to review your financial statements and ensure your bookkeeping is current. Look closely at your cash flow, pinpoint cost-saving opportunities, and plan for any significant expenses in Q1.
Local Resource: J. Ott Business Solutions supports small businesses in Tacoma with comprehensive bookkeeping and accounting services, helping you kick off the year on a solid financial foundation.
Review Your Legal and Compliance Requirements
In Tacoma and the greater Puget Sound area, staying compliant with local regulations is critical. Ensure all your business licenses, permits, and insurance policies are current. Review state and local regulations, especially if your business has expanded or evolved this year.
Actionable Step: Visit the Washington State Department of Revenue website for updates on business taxes and licensing requirements.
Check-In With Your Business Advisor / Accounting Professional
An annual review with your accounting professional or business advisor is essential. Use this time to strategize for the year ahead, address any lingering tax concerns, and explore opportunities to optimize your financial strategy.
Why J. Ott Business Solutions? As a trusted partner for small businesses in the greater Puget Sound region, we provide personalized service to help your business thrive in 2025.
Take Action Today
The start of a new year brings fresh opportunities, but preparation is key. By following this checklist, you’ll be well-positioned to make Q1 2025 your most successful quarter yet.
Ready to make the most of 2025? J. Ott Business Solutions is here to support Tacoma-area businesses with personalized accounting and business planning services tailored to your needs. Let’s build a thriving year together; reach out today for a confidential consultation.