763. The 4-Step Q4 Planning Framework for Product Businesses

Speaker A: I want to tell you something before we start. In every single year of working with the product businesses that I work with, across 2,000 brands, across over 100,000 entrepreneurs in product, the most painful conversation I have ever had is the one in late October, the entrepreneur calls and she is in a panic. Sales are starting to roll in. Customers are asking when products will ship, but she's out of inventory or, or she's out of packaging or her 3 PL is over capacity or her team is overwhelmed. Maybe her strategy was last minute and it's not converting. Maybe the Black Friday emails were never drafted or they were drafted yesterday and they aren't testing well. Listen, this entrepreneur sits across from me on a call in tears asking how do I save Q4? And the hardest truth is, is I have to tell her this. Q4 was one in July. You cannot fix in October what you didn't build in the summer. And I do not want that to be a conversation with you this year. Okay, so this episode is for the founder who knows Q4 is coming and is determined to do it differently this time. Whether you sell candles, jewelry, apparel, cpg, home goods or fresh food, whether you sell on Etsy, Shopify, Fair wholesale, in retail or in person markets, by the end of this episode you are going to have the exact playbook for using June, July and August to to build the fourth quarter that funds your entire next year. So let's get into it.

Speaker B: Hi, I'm Jacqueline Snyder and this is the Product Boss podcast. I've helped launch and grow thousands of product based businesses, even one of my own. And over the last 20 years I've seen behind the scenes of businesses just like yours. Whether they are makers, manufacturers, artists or food and beverage businesses. I have spent so many hours studying it all. I've discovered what makes them successful, what mistakes they could have avoided, how did they turn their ideas into successful business and what are the strategies that they have used to make more sales and

Speaker A: be discovered by more customers.

Speaker B: And this is what this show is all about.

Speaker A: Whether you're just starting out or you're

Speaker B: looking to become a million dollar product

Speaker A: boss, I'm here to give you the

Speaker B: permission to chase your dreams no matter how big or small. All you need is the right mindset, a little courage, strategy and support and you too can be the next million dollar product boss. Let's do this.

Speaker A: Hi, I'm Jacqueline Snider. I help product based business owners build the Seven Figure brand and the Life first business they actually want. The first thing I want you to hear is this Q4, October, November and December is when most product brands make 40 to 60% of their annual revenue, one quarter more than half the year's revenue. And inside that quarter, Black Friday weekend alone can do 20 to 30% of your annual revenue. That math means something. It means Q4 is not a season, it's a sprint. And like any sprint, you cannot improvise it, you cannot wing it, you cannot decide in October. Let's see what happens. The brands that win in Q4 prepared for it in June and July. Q4 is one in the summer, always. And here is the moment I want you to sit with. The fact that the summer feels slow is exactly why summer is the most strategic strategy season of the year. The slowness is the gift. It's the only time of year when you have the bandwidth to plan, the breathing room to build systems and the cash flow margin to invest in the inventory. The brands that experience summer as a problem experience Q4 as a disaster. And the brands that experience the summer as a gift experience Q4 as a windfall. The question is, is which kind of founder are you going to be this year? So today I'm going to give you the four part summer to Q4 prep system. This is the framework I teach inside of the collective. And this is what my inner circle mastermind clients are running right now. This is the four part inventory marketing operations team. So let's go through each one inventory. So right now in June and July, you should be ordering Q4 inventory. Not thinking about it, but ordering it. If you make candles, your wax jars, wicks and fragrances need to be ordered now. Lead times for raw materials are running six to 12 weeks. So if you wait until September, you might run out. You're going to lose sales, you're going to be forced to discount whatever is left because you cannot reorder fast enough. Let's say you're a jewelry designer. Your raw materials, your packaging, your gift boxes need to be in by August. For my apparel, uh, entrepreneurs out there, your fabric, your patterns, your production runs need to be scheduled now, maybe even some months earlier, right? You all know you, you're manufacturing your timelines and if you don't, this is something that we work on inside of the collective. But here's the deal. Manufacturing summer slots fill up in the summer. So if you wait until September, your factory, they will have nothing left for your CPG or your fresh product goods, right? Your ingredients, your packaging, your labels, your printing, your shelf stable systems all need to be in by mid August. And if you're a maker or, uh, a crafter. Your supplies, your bulk orders, your raw materials need to be ordered now while shipping is still reliable. So the math is calculate your projected Q4 sales by multiplying your best historical months by three. So if your best November was $25,000, your Q4 plan is 75,000 minimum. Then back into the unit count, then back into the inventory order, then place the order this week. Right? Or at least get the quote and the decision pending. The brands that miss Q4 always blame Q4. It was never Q4. It was the inventory order that they didn't place in June. Okay, so the second part of this is marketing. Your Q4 marketing calendar needs to be drafted by the end of August. Not perfect, just drafted. Okay? And so this is some of the stuff that the calendar includes Black Friday and Cyber Monday. And thinking about the email sequence, the full thing, we got five emails minimum. I know some of you are like, can you email them that much? Yeah, you are. Okay. And these emails start to be thought about the promotions drafted. How about your holiday gift giving email sequence? November through December, eight to 12 emails drafted. Or how about holiday gift guide pitches, Press outreach, influencer outreach drafted by the end of August? Because gift guide editors finalize your lists in August and then wholesale Q4 lookbooks, right? Buyers are buying. They've been buying all year. So you've got to get those Lookbooks and those line sheets ready and out the door. How about your fair promotions calendar? You want to set these up by mid August, end of August. And your holiday content calendar for Instagram, TikTok, YouTube filmed and batched, typically during the summer or late summer because in October you don't have the time. And I know this feels like a lot. And here's what you have to understand. Every single one of These things takes 30 minutes in July when you have the bandwidth. And the same thing in October takes you like three hours. It costs you a sale. It makes you sick from stress. So you get to do them now. And we are going to be creating opportunities coming up in the next few months. You know this if you've been around for any period of time that we teach you how to build and create your holiday promotion. So make sure you are on our email list or you follow me on Instagram so that you know. And make sure you're subscribed to the show because we'll talk about it here as well. Okay? The next step is your fulfillment process. These need to be tested and scaled before September. So if you're shipping out of a 3 PL, get on their schedule right now for Q4. They are taking new clients in July and they will be, uh, at capacity for September. So if that's what you want to do, do that. Call your account rep, reserve your space, pay the deposit if required. And if you ship yourself supplies in bulk now, boxes, tape, tissue papers, branded inserts, shipping labels, anything. Seasonal costs are lower in the summer and lead times reasonable by November. Packaging suppliers are charging surge prices and shipping's delayed. And your customer service capacity needs to be planned. So if you have an inbox that gets 20 messages a day in October, it will get 120 in a day in December. So decide now. Am I hiring help? Am I using automation? Am I shorting response times? What? Your return policy needs to be reviewed, Your shipping cutoff dates need to be set. Your gift wrapping options need to be decided all by August, so none of it bottlenecks you in November. And then the next part is your team. So if you're going to hire seasonal help for Q4, start interviewing in August, train in September, and operating at, uh, full speed in October. The entrepreneur who hires in November is hiring panic help. And the entrepreneur who hires in August is hiring a real team, one that you can train for your existing team. You get to schedule your Q4 game plan meeting in September. Right? Roles, responsibilities, who owns what. And if you have a 3 PL or a CO packer, set your Q4 expectations with them in writing. And if you have a virtual assistant, get them trained on, uh, Q4 specific tasks. Right now, the brands that scale into seven figures do not have bigger teams necessarily. Okay. I worked with a $25 million brand, and there were three of them. They and manufacturing overseas. The thing about seven figure brands is they have better prepared teams. They have systems, they're leading, they're running, and they're growing their companies by being prepared. Okay? The preparation happens in the summer. And hey, really quickly, if this is making you think of someone, another product business owner who is going to enter October unprepared, please send that person this episode. Send it. Before you forget, the whole way this podcast grows is by listeners sending it to other people. And while you're at it, make sure that you're following the show. Okay, let's get back to it. So let me tell you about a client. I'll call her Maria. And Maria ran a candle business, uh, doing about $400,000 a year. When we started working together. She had a, uh, great product, real customers, good wholesale relationships. But every Q4 was the same nightmare. She'd run out of inventory by November. She'd miss every gift guy deadline. She'd be working 20 hour days through December. She'd come into January exhausted and angry and swearing that this year would be different. Then in June, she'd take her foot off the gas to recover. And by October, she was already behind again. So we mapped out a summer to Q4 prep system together. June inventory was ordered, raw materials secured, suppliers locked in. And then in July, we were working on her marketing calendar, right, that was starting to get drafted, really thinking about her promotions. Gift guide pitches were being sent, influencer ideas and finding them. That was being started. And then in August, we were reserving three pl space. Okay, her co packer was booked, holiday content was being figured out. And promotions, her team Q4 expectations were set in September where the final adjustments, last minute, team training calendars locked in, promotions put in to the email software she was using. And by October 1st, she walked into Q4 super calm and prepared and confident. She did $310,000 in Q4 alone that year, almost matching the entire previous year in one quarter. And she did it working fewer hours than the year before because she had built the engine in summer. October through December was just turning it on. And that is the math. That is the difference. So if you take nothing else from Today, take these three things. One, Q4 is 40 to 60% of your annual revenue. It is not a season, it's a sprint. And you cannot improvise it to. Q4 is one in the summer and inventory in June, marketing in July, operations and team in August, final adjustments in September and operating at full speed in October. And three, the slowness of the summer is a gift. It's the only window in the year where you have the bandwidth to prepare. The brands that treat summer as a vacation, lose Q4, the brands that treat summer as the strategic season, win it. So here's your homework this week. Pick one of the four parts. Just one, okay? Because I know you're probably overwhelmed from this episode. So just pick one. Probably inventory, because that's where lead times are the most urgent. And I want you to run the math. Project your Q4 revenue back into the inventory, get a quote from your supplier and place the order. At least start putting it in motion. One part this week, start with inventory. And if something in this hit you, come and find me on Instagram at the productboss and make sure you're following me so that when you slide into my DMs, it makes it there. And if you have a question? Just DM me with the words Dear Jacqueline and one of your questions. This is the best ones. Become future episodes and two more things before you go. Every single week I host a training called how to Build a Million Dollar Product Business Without Becoming the Bottleneck and I walk you through the strategy, the belief shift and the next moves. So go to the productbossworkshops.com to grab your free seat or click link somewhere in the show notes. And two if you're ready to actually sit down and talk about where you are, where you're stuck and how to nail Q4 this year. Because if you felt overwhelmed from this episode, we got you. All you have to do is book a free one hour call with one of my Product Business Growth advisors. We'll walk you through and we'll find out where your gaps are and how the Product Boss can support you with one of our programs. We have lots of different levels, lots of levels of support and most of this is clean, custom to you. So all you have to do is go to the productboss.com bookacall or click the link in the show notes. All right my friends, I will see you on the next one. Between now and then, take care of yourself, keep growing and I'll see you in the next episode.

Speaker B: Thank you for being here and listening all the way through the Product Boss podcast. If you love our show and it has helped you in any way in your business, would you mind doing two things for us? Subscribe to the show so you never miss an episode and leave us a review. Reviews help other product entrepreneurs know that

Speaker A: this is the place to be to

Speaker B: grow their businesses and realize that they're not alone. And we know that you all know that a five star and honest review helps you sell more products to more people.

Speaker A: So you know that your reviews help

Speaker B: us reach more listeners around the world.

Speaker A: Remember, what we give is what we

Speaker B: receive and we are all all about helping each other in the Product Boss community. We are all in this together.

Speaker A: We would be so appreciative of you

Speaker B: if you could take the time right now to subscribe, leave a review and even share this episode on social or someone you know so we can impact more lives. And remember subscribing means that you will get notified each time we release a new episode so you never miss a thing. You have helped us grow and climb into the top 10 of all marketing podcasts and together we can keep climbing. Thank you friends and remember there is

Speaker A: room at the top for all of us.