7 Fourth Quarter BOSS Investments for Business Owners

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We are in the 4th quarter, known as the last stretch of the year! Can you believe it? If you haven’t started already, this is the time to put things in place for your business success next year. So, here a some BOSS Investments that you should make in the fourth quarter.

Invest Time in Creating Your Plan

Image you want to go on vacation. After you determine where you want to go and taking into consideration of your current location, you probably create a plan of how to get to your destination successfully. This planning process is the same when creating a plan for your business success for the new year. Also, writing down your goals and action plan increases your chances of execution and accomplishment. Invest time in writing down your business goals and action plans, including resources required to be successful. Think about the following:

• How much revenue do you want to make next year?
• What products or services do you want to introduce, update or sell?
• What is your business mission for the new year?
• What do you need to reach your business goals and execute your plan of action?
• Who do you need to reach out to as a center of influence or ambassadors for your business?

These are just a few questions to ask yourself to get started on creating your plan for the new year.

Invest in Your Professional Development

Profitable business owners never stop learning. Professional development is essential to being a successful business owner. Invest in professional development events like, webinars, seminars, certifications, coaching, conferences like Women Entrepreneurs Rock in November or networking events like BOSS Brunch. Attending these types of events will be the best investment in your professional development, which will yield the highest return as a business owner.

Invest in Your Self Care

Business owners spend so much time building their business and taking care of their families that they forget or neglect to take care of themselves. As stated in article, “5 Kick A$$ Biz Tips I Learn from the Women and Money Event at #FinCon16,” there is a reason why the first instruction when we fly a plane is to “put your oxygen mask on first.” Taking care of yourself is crucial to your business and personal success. Make sure to invest in your self-care so that you can rejuvenate, repair and replenish our mind, body, and soul so you can reach your business goals.

Invest in Your Business

It’s time to step up your game for the new year! Invest or reinvest a portion of your earnings back into your business. Whether it is to create or update your website and marketing materials or to revamp your brand or build your business reverses (savings), investing in your business is the key to business longevity.

Invest in Building Relationships

It’s not only about prospecting and finding customers or clients. It is about building relationships with people that will refer your products or services to people they know. These awesome people are called “Centers of Influence.” These people may never buy your products or services, but they like, know and trust you enough to refer you to their family, friends, colleagues or customers. Begin the process of building relationships with centers of influence so that you can create an endless stream of referrals.

Invest in Your Future

Most business owners spend most if not all of their business income in building their business that they forget to create an exit strategy. During the next ninety days, speak with a financial professional to discuss how to invest in your future and plan for the longest vacation of your life, retirement. Putting a little something away for your future will put you in a better position than doing nothing at all.

Invest in Your Family

Motivational Speaker and Business Owner, Cheryl Wood, shares her story about how she spent all day giving her job and customers the best of her, but when she got home, she gave her family the worst of her. They got the tired, irritable, impatient, grumpy, hate-my-job, miserable side of her. I’m sure that most of us can relate to what Cheryl was going through because we are probably doing the same thing. We love our families, but sometimes they get the worst part of us. Make time for and spend time with your family. Schedule a family game or movie night, picnic in the park, mini staycation or just dinner together at the dinner table. It’s all about quality! Invest in your family because they are your support system and your biggest cheerleaders. And in this business owner game, we need all of the cheerleaders we can get.

What are some other BOSS Investments we should execute in 4th quarter? Comment below.

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