Successful entrepreneurs have a plan for their businesses and make sure to execute it daily. However, every business owner knows that even the best plan must be flexible as life happens and a quick pivot may be necessary. Women entrepreneurs know this best.
Right now, it is the beginning of the 4th quarter, do you know where your revenues will come from?
When I ask this simple question to my clients, I generally get a quizzical look, which I interrupt as saying, "I hope I get all the customers/clients I had last year and a few more to make my numbers." The problem with this mirage is that it is based on prayers not science. Hope is not a strategy. Last year's customers/clients may have died, changed their buying habits, gone out of business or loss all their money, moved or decided to try some place new.
When I mention these various scenarios, I am looked at with horror! "No way! My customers are loyal. My clients would never think of going with another vendor. My clients need me."
"Really!", I reply. Have you ever switched vendors? Have you ever changed buying habits? Have you ever stopped shopping at the same place?" The answer is always, "Yes, but."
Well, entrepreneurs need to prepare for, what is in most businesses, the largest quarter of the year. Whether you are in retail sales, services sales or any other sales, the majority of sales are made in the 4th quarter. Sometimes the buy will be in cold, hard, cash and other times it is in a contract promising cash over a period of months. In any case, the 4th quarter of your business is critical. DO I HAVE YOUR ATTENTION?
It is important you get your entire team involved, if you haven't already. The goal is to create an opportunity anywhere you can find it. What that means in business is to seek out those that have bought in the past and contact them. Give them a reason to buy from you now! If they are even considering a change, look for the opportunity to intercept a pass. What I mean by this is to find out exactly what is steering them in another direction. Don't wait for the ball to be intercepted by the competition. Do what you can to cause a fumble. Once you get the ball back you'll be able to draw on all your work in practice and hit harder, run faster, and block harder. In other words, your main goal is to bring the customer/client back into the fold and make sure their customer experience is everything it can be. You know the company, and you know the players. Therefore, it is common sense, and good business, that you know what they need and want and are the best prepared to give it to them.
ARE YOU WITH ME?
Please believe me when I tell you that the 4th quarter in almost every business can be the answer to whether that business is a success or failure. Yes, I know you work very hard all year long and that by October you are often burnt out. But, this is no time to rest. The clock is ticking and the financial year, in many businesses, is just starting to go into the black. Don't ever let them see you tired. Pick up the ball and run for the goal!
Every business is different. Some have seasons or cycles or even special events that require special planning. But, we all live in a 12 month year, starting with January and ending in December, and the majority of businesses and consumers do their buying, planning or even liquidating in the 4th quarter. Whatever you do in your business, I promise you the 4th quarter is the time to raise the bar.
Women entrepreneurs, particularly, must do all we can to hold on to the reins at the busiest time of year and rack up revenues -- recurring revenues, if possible.
So, are you ready to go for the goal? Take a look at last year's revenues, and particularly 2012's 4th quarter. I would even recommend looking back to 2011's numbers and see what difference there was between the two years. Every piece of information you have makes it that much easier for you to execute a plan for 4th quarter 2013.
So, go out there and do whatever it takes to sell, sell, sell before the whistle blows!
