Uh, oh. Don’t look now, but the clock has just ticked into October and it’s…wait for it…THE FOURTH QUARTER!
And just like in football, you need to be managing your clock to make sure that you finish ahead. Or maybe you’re playing catch up. Or you are so far ahead, you are coasting.
Whatever you do, don’t waste time or let up. Just because you are on plan doesn’t mean that it’s time to let up on those players, coaches and officials…or yourself. A few things to think about leading into and during the fourth quarter:
- Evaluate your business position. Are you on track to make plan?
- Check up on inventory. Is it where it is supposed to be?
- Be aware of your tax situation as the year ends and what you need to do going into the new year. Do you owe and are you prepared to pay?
- Finish up your planning for the new year and begin preparation for first quarter. What are your expectations?
- Talk with your staff—they are on the front lines and know what is going on and can help you finish those plans for the new year.
- Plan for the holiday season—staff bonuses, partner and customer gifts and how to handle time off at the end of the calendar.
Above all, keep a positive outlook. Yes, while this is a time of not letting down and pushing across that goal or finish line, it is also a time for reflection. Of a job well done. Positive companies thrive and succeed!
For more on how to prepare you and your company for the fourth quarter and beyond, call or write to us. TFO Solutions is dedicated to helping entrepreneurs and business owners with their financial strategy from the back office to the boardroom.
**photos courtesy of Unsplash (Dave Adamson, photographers) and Paul Maynard