As we move into the autumn and winter months, businesses are taking advantage of the change of seasons to reevaluate their priorities and strategy. We share five tips on how to wrap up your third quarter:
Play with your data. So, it’s the end of the quarter and you have all of your figures, now you just have to “run the numbers” (whatever that means). Group your stats in multiple ways (even unconventional ones) to come to some new realizations about how your business works: Is there a specific day of the week when your numbers rise? Time of day? How does region play into it? You’re not aiming to rewrite your entire business plan. Rather, you’re just digging for some new insights by looking at your books in new ways.
Look at the pace of trends. Were there some industry trends that you predicted before this quarter? How did they play out? While you should always be reading up on industry news and predictions, the quarter transition is a great time to assess where the industry is headed and your business’ space in it. A trend that is certain to affect almost every domain is globalization, so make sure that you are strategizing globally..
Up your outreach. Maybe you’re not aiming to attract an international audience. Even so, your outreach strategy should still incorporate cosmopolitan ideals. In the 21st century, every audience can appreciate a worldly brand, as our generation has more global connections than our predecessors. How can you improve your engagement with your current audience? How can you expand?
Clean up your intake. This point may seem silly, but is important nonetheless. The content that you and your team take in (whether through reading, television news, etc.) does play a role in the decisions made, whether consciously or not. Make sure that the news sources you rely on are trustworthy and take a global perspective.
Craft a solid plan. Your plan should be a collaborative effort from your entire team, and include reflections about the past quarter (what worked, what didn’t and why), plans for the future quarter, and general long-term goals. Don’t set it in stone, however ,since our world is rapidly-changing. The winners know how to adjust to a new track.