Tips For Explosive Q4 Revenue
The last quarter of the year is a strange animal. Some businesses finally hit profitability just after Thanksgiving, and some businesses complain that they see very little business from Thanksgiving through the end of the year. I’ve always owned businesses that have a very busy fourth quarter. Whether you anticipate being crazy busy, or are already planning for a lull, here are a few ways to energize your Q4 and squeeze out a few more profits before year end.
- What are your customers thinking about in Q4? If you’re in wholesale or retail goods, most of your customers are thinking about spending and gift giving, making Q4 a slam dunk. Many service professionals might see business suffer because clients aren’t thinking about changing their car insurance or adding to their stock portfolio until January. If that’s the case, Q4 is a critical marketing period. It takes about 90 days to see results from a marketing cycle, so if you’re in an industry where clients and customers put off buying from you until the New Year, now is the time to go all out with your marketing. Throw a client appreciation party (before the hectic holidays), send a client gift, or just a hand written note. If you get on the radar now, come January you’ll be seeing the payoff.
- Go Where No One Knows Your Name. It’s so easy to get stuck in a networking rut. We often go where we are comfortable, people know us and we feel safe. It’s great to keep up with existing relationships, but once in awhile it’s good to meet people in a totally new circle. You never know what kind of new connection you might make with someone. Even if it’s not a new business networking group, try out a new hobby or take a class. Doing something totally different can activate the creative centers in your brain and you never know how you might be inspired.
- Do Something Nice for Someone Else. Are you a giver or a taker? Go beyond spouting out a “givers gain” philosophy and actually go out of your way to help someone else. Think you’ve got a good lead or connection for someone? Pick up the phone and make an introduction. Know someone having a hard time at home? Send a hand written note. Have a client with a big win? Send flowers, a fruit basket, or even make a charitable donation in their name. All of these actions show you care about others. I spent so much time in litigation and dispute resolution, and often things spiral out of control when people felt like the other side just didn’t care. Showing you care can go a long way.
Implement some of these tips over the last quarter and you might be surprised by the affect on your bottom line. At the very least, you’re taking actions that may help you grow as a person and business owner, and taking actions that help others.