With host retail coach Wendy Batten https://wendybatten.com/podcast-intro/ Episode Overview As October approaches, it seems that most retailers are either fired up and ready for the season or feeling frozen and overwhelmed by everything that is coming. Q4 is usually quite busy for most making it easy to move into a reactive mode: doing what we have always done without being strategic about where the business is headed. Kind of like, "we know this (whatever this is) works, so let's just do that again." Sound familiar? Before getting caught up in marketing, events, teams, and everything else that comes with a busy season, I want retailers to get very clear on their numbers. Understanding operating costs, margins, profit goals, budgets, and what you want to take home gives you a much clearer picture of what you are actually trying to achieve. When I know my numbers, I can make better decisions about where to spend my time and where to push the gas or maybe pump the brakes. In this episode, I talk about looking month by month through October, November, December, and January so I can understand where the business is today, where I want it to go, and what I need to direct as the founder and CEO in Q4. Our Key Topics Why getting clear on your numbers should come before getting busy with marketing and other Q4 activity. What financial clarity can tell you about your budget, operating costs, margins, profit goals, and what you want to take home. How looking at October through January helps you understand what you are trying to achieve and which levers you need to pull. Why your role as the founder and visionary is to direct the business rather than try to be the person doing everything. How knowing your numbers can help you make decisions, stay focused, and avoid reacting to the noise of Q4. Key Takeaways For Shop Owners Know your numbers before the busy season takes over. You need to understand the financial side of your business before you start making decisions about marketing, events, hiring, or other investments. Without that clarity, it is much harder to know what you are actually trying to accomplish. (Need help? Grab my Profit Planning Masterclass for $47 now. It's available as a stand alone course until the end of October!) Look beyond a single month. I encourage retailers to look at October, November, December, and even January together. Seeing the months ahead as a whole gives a better understanding of what is coming and what needs to happen financially. Get curious about the numbers. Instead of simply looking at the numbers, you can ask why they are what they are, what they make possible, and what you need to do to reach the results you want. That curiosity can turn the math into a tool for making decisions. Step into the CEO role. As the visionary and founder, your job is to direct the business. That means understanding where you are investing money, what needs attention, and where your time is best spent rather than trying to do every piece yourself. Build goals around the business and life you want now. You do not need to make your goals about beating last year's numbers. (In fact, please don't!) You need a clear picture of the business as it is today, where you want it to go, what you want the profit to provide, and what you want for your life. Want to work with me to plan out your week? I'm hosting a workshop on September 29th to help you do just that! Join me for CEO Time: Spinning to Soaring. "When you know your numbers, every decision gets easier." -Wendy Batten INSERT IMAGE HERE Resources Mentioned and Related Podcasts Need some help getting familiar with your numbers? Grab my Profit Planning Masterclass now for $47! Be the retailer who walks into Q4 with a plan, not panic. Grab the Holiday Success Bootcamp now for $97 before it is gone at the end of September! Episode 317: Take Control of Your Time as a Business Owner Let's hang out in a private coaching session! Follow along and chat with me on Instagram and join my love list. About your host, Wendy Batten In case we haven't met…I'm Wendy Batten. I've been a small business owner, coach, and mentor for over 25 years. I help thoughtful, established entrepreneurs step into their role as CEO and build businesses that are profitable, meaningful, and supportive of the lives they want to live. My work blends real-world strategy with a life-first philosophy, shaped by lived experience, not theory. I've been there! Through honest conversations and practical insight, I invite you into bigger thinking about leadership, possibility, and how to build both business and life on purpose. For more support from Wendy Hang out and connect with Wendy on IG All of Wendy's current programs and services for shop owners can be found HERE. Never miss an episode! Subscribe to the Creative Shop Talk Podcast and get the tools, inspiration, and strategies you need to thrive as an independent retailer.Click here to subscribe to iTunes! Loved the episode? Leave a quick review on iTunes- your reviews help other retailers find my podcast, and they're also fun for me to go in and read. Just click here to review, select "Ratings and Reviews" and "Write a Review" and let me know what your favorite part of the podcast is. So grateful for you! Thank you!
