September is a time of excitement, optimism, and new possibilities. Children returning to school remind us of our own sense of adventure, curiosity, and hopefulness. As adults, we need to recapture this energy. As business owners and business professionals, we too are affected by the school year schedule, change of seasons, and upcoming holidays. September is a pivotal month; there is much to prepare and plan for.
Most importantly, September is a time to pay quarterly taxes. As a business coach, I urge you to meet with your accountant to take stock of the year and plan for the 4th quarter. Alarmingly, I encounter many business owners who are behind on filing, get extensions, and do not use their monthly and quarterly statements as a planning tool. Sept. is the time to see if you have a shortfall and develop a strategy to finish the year strong.
I recently attended a BNI (Business Network International) meeting and listened to a presentation be Lydia Paasch ,owner of MLP Consulting and Design LLC, who provides accounting and bookkeeping services. Lydia is also a Profit First Coach, an allocation system that produces wise choices and sustainability. She explained that 70% of small business fail in the first five years. These failures are often due to inadequate bookkeeping and insufficient financial planning.
As a business coach, I cringe when I hear about business owners or professionals who file their own taxes. One of the smartest things that you can do for yourself is to hire a bookkeeper. Bookeeping is something to take off your plate so that you can focus on management and executive functions. Frankly, your business will never really grow if you continue to insist on doing all of your own taxes and Quick Books.
In coaching, we set measurable goals. You must know exactly how much money that you need to make in the 4th quarter. You also need a list of action steps to take that will produce your desired amount of revenue. For instance, some business professionals might note how many cold calls that they need to make each day to reach a certain number of conversions. Fall can be a good season for networking and marketing. List all of the fairs, festivals, and other events that you could attend.
You want to visually “set the stage for success”. I learned this from my father, a shoe salesmen who was famous for turning a shoe store around. He would buy a failing shoe store, improve it, and sell it at a profit., One of the things that I vividly remember from my childhood is how inviting the displays looked. My father loved to decorate seasonaly and so I. Have some fun with Fall décor. Due to my father’s influence, I developed a concept called Successful Spaces. What his means is that in addition to decluttering, cleaning, and organizing your home and office, it is important that the space be aesthetically pleasing and welcoming. We’ve learned from the real estate world that staging increases sales and profits. Create the kind of environment that is engaging. Even if you don’t consider yourself to be creative, a few pots of mums, garlands and wreaths will go a long way. Tantalize guests or customers with some apple cider and pumpkin swirls or muffins.
If you want to feel inspired, it helps to get away for a weekend. You can use some time away to rest and/or plan the 4th quarter. Join me at my country retreat, Sabbath Sojourn. Visit an Amish store or a small town country store and pick up some Fall treats and decorations
Treat yourself to my AirBnB:
1) https://www.airbnb.com/rooms/49928708?translate_ugc=false&federated_search_id=2e557535-c723-42c3-b84d-02fd62bc7555&source_impression_id=p3_1629834222_3V8TCg1BLp%2BxEPYv
