There are a lot of distractions in the Fall – weather changes, school schedules, a big election and pumpkin spice everything. It is also the time to really focus on your business to not only end the year in a strong position, but also to set yourself up for a successful 2025.
Celebrate the Wins
The first tactic to a strong finish is to celebrate the wins that you have had so far. Look back at all that you have accomplished so far this year. You should be excited about those 5-Star reviews, that big contract you landed, a new offering, or the expansion of your team. Recognize your team members who have contributed to your success. Too often, we look at the lows without taking time to look at the highs.
And Now I Know
What have you learned this year? Did you take a risk that may or may not have worked out? What would you do differently next time? Perhaps you or a team member improved a process. Customer feedback is a great way to learn about what is working and what needs to be tweaked.
Reexamine your Goals
Dust off those goals you set in January and honestly evaluate where you are in achieving them. If you are falling short, determine what actions need to be taken in the last part of the year to meet those goals. This is the time to eliminate distractions and make sure that all of your strategies are moving you towards your goals. You may also need to revise a goal to reflect the changes that have occurred in the past year.
If you have already met your goals, celebrate! Then set new ones for the remaining months.
Set Priorities
Once you have evaluated where you are on your goals, set the priorities for the rest of the year. Be sure to clearly communicate the priorities to your team, especially if there will be a change in focus. When you plan your day/week/month keep focusing on your priorities. If there is a task that is not a priority, delegate it.
Manage Finances
This is a good time of year to review your finances and make adjustments for a strong finish to the year. Check that all reporting is up to date so that you can make informed decisions. Check on your receivables and take steps to collect outstanding invoices. Review all of your expenses to see what has crept up and identify cost-cutting measures. Meet with your tax advisor to plan expenditures and other measures that will impact your taxes.
Plan your Marketing
Determine what your customers will be looking for in the last months of the year and plan your promotions to match. Plan and budget for any email or social media campaigns. This is also a good time to evaluate your inventory and plan to unload what is not selling and feature your high margin offerings.
Focus on your Employees
This is a great time to evaluate your team, not only for performance and training needs, but review what positions you truly need to be successful. Then do an honest analysis to determine if the people that you have are the correct people for the roles that you need. Your superstars deserve rewards and recognition all year, not just at bonus time. Make a point of acknowledging contributions and effort from your team.
Play Catch Up
We often procrastinate on the things we do not like to do. Revisit all of the tasks and To Do’s that you have been postponing and rescheduling. Make them a priority this month so you are not scrambling at the end of the year.
It may seem like December is a long way off; however, September is a great time for you to solidify your business strategies and get your business on a solid footing. The reward is a solid finish to this year and a great start for 2025.
Author: Sandy Merritt, Business Coach