Don’t Let These 6 Things Get Away From You This Q4
Maureen Considine
Happy October!
Can you believe it’s October already?
I love the fall and all that comes with it. I’ve found that so many agree with me. The leaves on the trees change colors and nature is vibrant and so pretty. The temperatures begin to cool down from the heat of the summer. The food available to us changes and it is soo looked forward to. Like pumpkin spice coffee, though I’ve not had one.
It’s also the beginning of Q4 or the fourth quarter of the year, 2023. For entrepreneurs and executives that brings a whole other layer of topics to think about.
How do you want this period to go? How do you want to finish out the year?
Not everyone wants to think this way, as in year end in October or even finishing out the year. There are though some great benefits to doing so, perhaps some you haven’t thought of. So let’s dive into them.
1. Bookkeeping. This is the time to really take a look at your numbers for the year so far. It’s amazing how few business owners actually do this. It’s important to analyze what you’ve done as well as where you want to be at year end. It can help to show you exactly how to do that.
Now’s the time! December, when people normally do this, if they do it at all, is or can be too late.
2. Taxes. Even though you still have some time before these need to be completed, now is a good time to make sure you are on track with them — including for where you want to be with record keeping and any tax or estimated payments.
Note… I am sharing this information based on my own extensive experience, what I do for myself and in my business. I am also sharing what I have discussed with my clients, for some best practices. I have done taxes for more than 25 years, before I handed them over to an accountant and CFO, so I have some knowledge. This has been very helpful for my clients, whose knowledge is minimal here and it is in line with our unique financial literacy we teach to those who need it… Beyond that, please reach out to your own accountant and/or tax professional for specific advice.
3. Business Revenue. Q4 or 4th quarter is the time to look at your business revenue and your cash flow. Is this where you’d like it to be? If so, fabulous. Way to go!! If not, it might be time to consider what you can do to close that gap so you can meet or surpass that goal, to finish the year strong. If you wait, you won’t have as much of an opportunity to hit it.
Here are some ideas that might be good…
- Reach out to any clients that might be behind on their payments and just need a nudge to become current.
- What can you do to promote your business in the coming weeks?
I know so many people and business owners who don’t do this at all! It could really improve their results and their motivation.
I used to wait until December to address these things, until I experienced a rush to get them done. With so many different pieces to consider it made for a hectic year end, which is usually not what we want. Now I don’t do it that way anymore and it’s made a difference
4. Lead Generation and follow up. Lead generation is one of the most critical aspects of growing most businesses for long term. You as the leader, even the Sales Director work on this all year long and it can even carry over into the next year. Don’t allow year end to allow you to become complacent or distracted.
Finish reaching out to those leads and be sure to do the follow up necessary and promised to keep the momentum.
5. Charitable donations. This is one of my favorite things about year end, making charitable contributions, it’s good for the soul and it can be good for the business. There are many companies that make contributions to their favorite charities as a significant part of their business. Making annual gifts is something we do here at Finding Your Way Coaching and it’s fun and rewarding, as well as having a tax benefit.
You can start planning for it now, by looking at those organizations important to you that you’ll want to give to. No need to wait until December when it’s the busiest time.
6. Annual renewals. Set some time aside to consider and review the annual renewals that will be required — within your business, for your business and personally. It can be a significant time consuming endeavor to get through all of this, you can start now or even mid quarter.
How do you want to finish 2023? Q4 is a part of that… Do you want to finish strong and keep building momentum into the next year?
Or do you want to enjoy the results of the hard work you’ve done so far?
Either way, it’s up to you and now’s the time to decide!
Maureen Considine is Founder and CEO of Finding Your Way Coaching. A Master Coach with expertise in Income Acceleration, Business Development, Sales and Mindset, she is the Wealth Health Creation Strategist for entrepreneurs, executives, and other high performers. Maureen has over 25 years of experience in sales and marketing. She has helped hundreds of clients grow their businesses and reach their true potential using her unique, intuitive, and holistic approach. Maureen has a B.A. in Psychology, with training in mindset and the Psychology of Sales.