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As the year winds down, it is time to prepare your small business for Q4 success and the year ahead. The fourth quarter is filled with holidays, so small businesses like yours will have fewer days to reach their revenue goals. Additionally, many of your customers and clients will likely take vacations in November and December. Following are some real-world tips from Balboa Capital on how to prepare your business for Q4 success.
Q4 success starts by having realistic revenue goals.
The final three months of the year are hectic and often filled with stress. This is a perfect time to meet with your employees and set realistic sales goals. Consider basing your goals on the historical performance of your small business in Q4 and trends you are seeing this year.
If applicable, create incentive programs for your employees and salespeople to energize them, as some workers are known to mentally “check out” during the holiday months. Give your employees welcome words of encouragement and recognize their individual and team accomplishments to keep morale high.
Look for Q4 sales opportunities.
If your small business experiences increased sales during the holiday months, now is the time to get the promotion machine moving, and you do not need to spend a small fortune to do this. Include holiday promotions or sales events on your website and social media.
An e-mail marketing campaign is also an effective way to notify prospects and customers of your small business’ holiday promotions and sales. The holiday months are when large companies you might be competing against spend heavily on advertising, so you must market your small business, even with a minimal budget.
Get ready for next year.
The final months of the year are going to pass quickly. But, before you know it, you will need to start planning for the New Year and preparing your business’s taxes. So get a jump-start on these tasks by starting now. It may sound like a lot of work to do during the busy holidays, but it will allow you to return from the holidays knowing you are ready to tackle the New Year. Planning is an intelligent business strategy that reduces stress and the need to manage tasks at the last minute. It can also set your small business up for Q4 success.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.