October marks the beginning of the fourth quarter of the 2019 fiscal year. You know what that means — it’s clutch time. Big tech companies are making major moves in hopes of finishing the year strong and starting 2020 on a high note. For example, Facebook’s Mark Zuckerberg sold over 100,000 shares of the company for nearly $24 million.
If your company’s third quarter wasn’t so great, don’t fret. There have been major comebacks for companies in the fourth quarter. In 2012, Netflix faced stiff competition from Amazon and Redbox. Then Netflix came out strong in the fourth, increasing its domestic streaming revenue from $556 million to $589 million. No matter how the rest of the year went for your business, here’s how you can make the most of the fourth quarter:
Rally Your Team
Morning pep talks, free coffee, donuts, and trap music in the office — do whatever you have to do to motivate your team. To make the most out of the last quarter, you are going to need your team to bring their A-game. Be engaged in achieving a common goal. A Gallup study showed that companies that ranked high in employee engagement saw a 21 percent increase in profit and higher productivity.
Get More Sleep
Don’t forget to sleep. Yes, it is crunch time, but don’t neglect to get a full night’s rest. You’ve been grinding all year. Its time to keep your mind sharp and vision clear so business decisions can be made with clarity. Whether you’re a founder, CEO, or CFO, it is recommended for adults to get 7-9 hours of sleep per night.
To put your best foot forward in the fourth quarter, take a look back to evaluate the productivity of your company. Where can you improve? What were your lowest-performing areas? Try to rid your business of any unclear objectives or ill-fitting marketing strategies in preparation for the upcoming year.
Go Back to the Drawing Board
During the year, things can get hectic, and entrepreneur workdays can seem endless. According to Real Business, entrepreneurs work an average of 52 hours a week, 63 percent longer than the average employee. During such long hours, don’t forget opportunities that showed promise. Go back to the drawing board, and revive that entrepreneurial spirit you had at the beginning of the year.
Take a Risk
Now is the time to take risks. With big tech companies like Facebook making major moves and Dow Jones setting a historic record high closing, think about jumping into the flow. Opt for a more calculated risk approach or think about diversifying your business portfolio. There’s a possibility that it’s time to jump at that risky opportunity you’ve been eyeing all year.