The 5 Things Every Small Business Should Be Doing in Q4
Pumpkin spice season. Sweater weather. Not summer.
We all have different names for the last 3 months of the year, but in the business world they are just Q4.
These last 3 months are when we start to press down on the accelerator to hit all of those goals we set for ourselves. We have revenue targets to hit, and personal finish lines begging us to be crossed. We’re setting our businesses up for the rush, and then, lull of the holidays, and the craziness come the new year.
And if you’re really smart (and I know you are because you’re part of this community) you’re taking time to check-in on your business’s needs and set yourself up for next year and beyond.
I love checking in with all of my clients in October and going through these big points together.
And in case I don’t get the pleasure of chatting with you about all things your awesome business - I’m leaving my list here for you so you feel ready to finish 2019 strong and rise even higher in 2020!
1 - START GETTING YOUR FINANCES IN ORDER:
Go through your business credit card/debit card/spending accounts and note each purchase the best you can. Your CPA/accountant/bookkeeper will properly categorize it on your taxes.
Also go through your personal accounts juuuust in case you accidentally used your personal account for a business expense. (I’ve done it too! It’s happens.) If so, note that for your tax preparer.
Be sure that if you owe quarterly payroll taxes those have been paid at the end of each quarter. Even if you’re just paying yourself as an employee, yes, you still owe these quarterly taxes. The good news is, if you use a payroll processor, like Gusto (obsessed!) or ADP, they do this automatically for you.
Why the urgency to get all of this to your tax preparer or financial person? Because, if you have employees or contractors, you owe them W2s and W9s, respectively, by January 31, 2020 for their work in 2019. So don’t wait!
2- GET LIABILITY WAIVERS, MEMBERSHIP AGREEMENTS, WORKSHOP AGREEMENTS AND ALL AGREEMENTS IN ORDER ASAP: There is no better time that NOW to make sure that your business and your clients are protected.
Liability waivers aren’t just for group fitness classes - they should be used during:
personal training sessions,
and any setting where someone is moving their body under your supervision.
As for those Membership Agreements and Workshop Agreements aren’t just extra paperwork. They ensure that:
Your cancellation policies are clearly stated. You absolutely need your clients to understand these, and late fees, come the new year and the January rush.
Billing policies are outlined to ensure there is never a dispute.
Clients have clear expectations as to what they need to do, and what they can expect from you.
3 - CALENDAR 2020
You have BIG goals. I know, you know, and we need the universe to know it so we can manifest these goals into a reality.
Grab a piece of paper, or even better a calendar, and start writing out:
what workshops or trainings you want to attend,
where you want to travel and when,
your personal AND professional goals,
non-revenue based goals (ie - grow your subscription list, read one book a month, listen to a podcast once a week),
any client specials or sales you anticipate running, and the marketing ramp up period it will require.
4 - PUT TOGETHER YOUR MARKETING PLAN FOR 2020
Once you have your goals written out, start to put your plan of action into rolling them out!
if you are hosting a workshop, retreat or teacher training, how far in advance do you plan to announce it and sell tickets? Will there be early pricing?
If you’re rolling out a program (think 90-day transformation) or online course, what does your pre-launch and ramp up look like?
Every goal you have will take time, but support it with thoughtful marketing. And if you’re struggling with marketing (social media and otherwise), I have a GREAT resource for you. Leave me a message below, or email me, and I’ll connect you :)
5 - SET ONLY SMART GOALS FOR YOUR BUSINESS IN 2020 AND BEYOND
In an earlier blog post I talked about SMART goals and why it’s so important to put thought and weight behind those dreams of ours. If you missed it, check it out right here. SMART goals are:
Once you’ve written down all of those goals for 2020, I encourage you to go through the SMART exercise I discuss in my blog post to make sure you’re on your way to crossing every.single.one. off that list!
6 - CHECK YOUR INBOX!
For the sixth and BEST tip to finish out 2019 strong, check your inbox! It’s in my weekly newsletter for my subscribers only. Not yet a subscriber? Click HERE to sign up. Every week I’m sharing with you tips to make your business more profitable and efficient, to help you work less, and to support you as you’re pursuing your biggest business dreams.
Until next time,