The 3 Non-Negotiable Tasks for a Strong Finish: An Investor's Perspective
As the year winds down, it's easy to get lost in the holiday rush and mentally "check out." But for investors, the end of the year is when we pay the closest attention.
At Co-X Holdings, we believe that how a business finishes the year is just as important as how it starts. It's a critical time for reflection, strategy and financial discipline. As we evaluate our portfolio and look for new opportunities, these are the non-negotiable end-of-year activities we look for in a strong, well-run business.
Whether you're a startup, a small business, or a company we've partnered with, here are the three things you should be doing right now.
1. Reconcile Your Books (The Honest Check-Up)
What it is: This isn't just about "doing taxes." This is a deep, honest reconciliation of your entire year. It means closing out your books and, most importantly, rigorously comparing your actual performance against the budget you set 12 months ago.
Why We Look for It: This is the ultimate test of operational discipline. We want to know:
Did you hit your revenue targets? If not, why?
Where did your expenses really go? Were there surprise costs?
What was your cash burn rate, and how did it change quarter over quarter?
A leadership team that can answer these questions with hard data—not just "gut feelings"—is a team that understands its own business. This financial clarity is the bedrock of trust and the single most important factor in building a scalable company.
2. Conduct a "Keep, Kill, Create" Review
What it is: The end of the year is the perfect time for a strategic audit. Look at every product, service and major internal process and sort it into one of three buckets:
Keep: What worked? What was highly profitable or core to your mission? (Double down on this next year).
Kill: What didn't work? What drained time, money, and morale with little return? (Be brave enough to stop doing it).
Create: Based on what you've learned, what new opportunity or process do you need to create to fill the gap?
Why We Look for It: This demonstrates agility and a-ruthless focus on what matters. We'd rather invest in a company that failed at three things and cut them decisively than a company that is slowly bleeding from "legacy" projects they're afraid to stop. This "Keep, Kill, Create" framework proves a leadership team is strategic, not just busy.
3. Set a Realistic 12-Month Plan (And a 90-Day Sprint)
What it is: After you've reconciled your books (you know what happened) and run your strategic review (you know why it happened), you can build an intelligent plan.
Many companies make the mistake of creating a vague, "hockey-stick" 12-month budget. Great companies do that, but they also create a highly-detailed, 90-day "sprint" plan for Q1. This includes specific, measurable goals (KPIs) and assigns owners to each.
Why We Look for It: A 12-month plan shows vision, but a 90-day sprint shows you know how to execute. Afterall, ‘execution is the chariot of genius!’
When a founder can tell us, "Here's our annual goal, but here's exactly what we're going to achieve by March 31st and who's responsible for it," it shows us they value momentum and accountability. That's a business we want to be a part of.
A Co-X Holdings Perspective
These three exercises aren't just "year-end busy work." They are the building blocks of a sustainable, high-growth and an investable business. They build financial discipline, strategic focus, and a culture of accountability—three of the most valuable assets a company can have.
What’s your perspective? What processes are you spinning up for your business in now that will enable your business’ success in 2026?
