The fourth quarter of the year is always the most hectic for business owners across the country. This is seen as the holiday season, but it is also the end of the calendar year. As such, consumer habits drastically change and this is typically where a lot of companies see the most success. There are also a few unique challenges you start facing as Q4 draws near that you need to prepare for. Below, you will find three ways in which you can get ready for Q4 this year!
Set your goals
It’s important to set goals if you want to achieve something special this quarter. One good idea is to review your previous success this quarter and see how you can build on it. Consumer habits change at this point in the year as everyone starts buying things for the upcoming holidays. Therefore, there’s more chance of making sales than at any other point in the year. People are more eager to start paying, so there’s a lot of money in it for you. As a business, you need to maximise what you get out of this quarter and take advantage of the increased spending by the consumer market. To do this, you need to create some goals to tick off by the end of the year, which should help you design a marketing campaign to reach them.
Reduce your energy costs
Q4 includes October, November and December, which typically signals the start of the colder months in the UK. As a result, your business needs to prepare for this by working on your energy costs. This will directly impact your bottom line in Q4 and can be the difference between you hitting your targets or not. Consider ways to lower energy costs such as installing new spray foam insulation to keep your premises warm without needing the heating on full blast. It’s all about making your workplace more insulative, so the costs go down. Too many companies have successful sales campaigns in Q4 that are offset by extortionate energy costs, meaning profits aren’t as large as they should be – or don’t exist at all.
Hire temporary staff
Loads of businesses will hire Christmas or holiday staff around this time of the year. This is simply to counter the fact that you will be doing more work than at any other point in the year. If your business gets super busy during Q4, it helps to have a few extra hands on deck just for this quarter. Yes, it’s an added expense, but research has shown that it is a wise investment as the additional help can let you achieve your goals and targets. Without them, you may struggle to keep up with the amount of work you have, leaving customers and clients unhappy.
There you go; three ways you can prepare your business for Q4 this year. It’s all about setting your initial goals and targets, hiring extra staff to help you deal with the added workload and preparing for the colder months to reduce your ongoing energy costs.