How to Conduct a 4th Quarter Review

December 10, 2012

How do you measure success each year? It takes more than just balancing and closing the books. At the Business Success Center, we encourage our clients to conduct reviews each quarter but especially fourth quarter. This planning tool makes them focus on the “40,000 Foot Owners’ View” that is critical for success. It also gives owners and top management a headstart with making the following year even better.

Below are the seven basic steps we recommend.

These should be completed by the top staff with input from those who played major roles in implementation.

  1. Review the goals you set for each of the six areas of business at the beginning of your business year. (If you did not set them up, do so now and then start each year with at least one goal for each area.)
    A. Planning
    B. Administration
    C. Marketing & Sales
    D. Financials
    E. Records and Books Management
    F. Operations
  2. Review the personal goals you set for yourself. Determine if you were able to achieve them or will be able to achieve what you want out of investing and owning a business. You are looking to make sure that you are achieving the right balance between life and work.
  3. Identify how you are doing with each goal and overall in each area and finally overall as they relate to the business as a whole.
  4. Determine if pursuing the goals you have not accomplished yet still makes sense. Eliminate or change the ones that do not.
  5. Add any goals that make sense for the end of the year.
  6. Determine what will be needed to accomplish your original and your new goals.
  7. Put those action steps on your planning calendar. Work backwards. Determine when you want the goal completed by and when you want each action step completed by in order to reach that target date. Be sure to make sure you keep in mind your personal goals as well.

We have a specific worksheet we use with clients to conduct this review. Please send me an email at, if you would like a copy of ours or to discuss the system you use and how you might improve it.

Final Action Items:

  1. Complete the 4th Quarter Review as soon as possible.
  2. Determine changes and deletions to get the most from this year’s efforts.
  3. Decide on a completion date and budget on any critical last minute goals and place these on your planning calendar.
  4. Get started on those critical goals in order to finish on time.
  5. Meet with your tax or financial advisor in time to make any changes that will allow you to take advantage of tax laws.

Ask the BSC Management Experts Ending the Year on a High Note

Bring your questions to end your year well and start your New Year off even better. Focus is on sales, marketing and financials. Session will be hosted by Jan Triplett, CEO and Dan Diener, CFO of the Business Success Center. Click here for more information.


Topics: Management, Content Type

Jan Triplett

Business Success Center

Jan Triplett, Ph.D. is the CEO of the Business Success Center (BSC), a City of Austin certified green business, that provides sales and financial growth strategies, planning, and implementation. She is also a professor in Business and Professional Skills for the online MBA program at Mary Baldwin University. Triplett is a national and international speaker, author of A Networker’s Guide to Success and co-author of Thinking Big, Staying Small and Easy to be Green. She published The Networker ” magazine for over ten years and moderated KUT radio’s nationally syndicated program, “The Next 200 Years”. She was co-creator of the award-winning “City Management Academy” and the “Owners MBA” and co-founded the Entrepreneurs’ Association Hatchery incubator and accelerator. She is a small business activist. She served as a White House Conference on Small Business and Congressional Summit delegate, served on the Mayor’s Task Force on International Infrastructure, initiated the Northcross IBIZ District and recommended portions of Austin’s Big Box Ordinance. She was a founder of the Women’s Chamber of Commerce of Texas and the Greater Austin International Coalition. The SBA honored her as Texas’ Small Business Advocate. She has also earned her CBTAC and Director credentials. Her company received a Small Business Administration (SBA) five-star national award and the Austin Business Journal named it a top 20 management consulting firm.
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