The end of the year presents this tough and tight dance: founders feel the pressure of meeting year-end goals while setting up a solid foundation for the next year. 

Closing out the year with momentum isn’t just about hitting sales numbers but maximizing every opportunity to optimize finances, engage the team, and adjust plans based on what the past months have revealed. 

With ten months of data in hand, you have the insight needed to end strong and strategically position your startup for future growth. 

Let’s break down five key strategies to close 2024 with impact and step into 2025 with confidence.

Strategy 1: Evaluate year-to-date performance

Reflecting on your year-to-date performance allows you to spot what worked and what didn’t in your go-to-market strategies. Which initiatives brought in new customers? Which products or services drove the most engagement? These insights help you decide what to retain, optimize, or cut entirely before the year closes.

A deep dive into spending is equally crucial. Have you underspent in areas that could yield high returns or overspent on underperforming campaigns? Adjusting these areas for the remainder of the year can help conserve resources and build stronger financials moving forward. It’s about leveraging what you’ve learned to make the last push count.

Strategy 2: Align with your finance team

On that last point, you need to consult your expert finance person or team. End-of-year alignment is essential. November is the time for essential conversations on remaining objectives, final budget allocations, and any last-minute adjustments to meet your sales and spending goals. This alignment ensures that the entire team works cohesively toward the same goals as the year ends.

This is important: We love them, but I’m not talking about bookkeepers. I’m talking about working with the financial professionals who can go beyond keeping track and counting and can tell you how to best spend your money and manage runway beyond this year.

Strategy 3: Push for revenue goals

With December often shortened by the holiday season, targeting specific, high-probability deals in the pipeline is key. It’s not just about setting revenue goals but also empowering your team to close on deals with the greatest potential for year-end impact. Focus resources on deals that have a realistic chance of closing within the month, providing the team with clear priorities.

You might also consider reallocating resources to initiatives that drive the highest returns in December, whether it’s customer upsells, renewals, or higher-margin products. Even a slight increase in successful deals during these final weeks can significantly impact your year-end results, positioning your startup well for the year ahead.

The key here is being focused on the right targets and moving quickly. Folks are already starting to check out, so hit their inboxes and phone lines right away!

Strategy 4: Begin planning for 2025

Starting your 2025 planning now allows for a seamless transition. Set ambitious yet realistic targets for revenue and cash flow, creating a tension between needs and wants that drives focused decisions. By establishing these targets, you’ll more easily identify what resourcing is needed to support essential initiatives.

Your strategic plan should cover high-priority areas like cash needs, go-to-market strategies, and operational efficiencies. These details ensure your startup enters the new year prepared to scale and navigate any challenges that arise. The more prepared you are now, the more equipped your startup will be to move forward confidently in January.

You’re almost there. Stay focused!

The final months of the year are your last chance to maximize 2024’s opportunities while preparing strategically for the next chapter. A thoughtful review of performance, financial alignment, and targeted revenue pushes contribute to a successful year-end close. Start planning now, and you’ll build momentum that will propel your startup into 2025 with purpose and clarity. And that’s going to feel really good!