How to Plan for Q3 and Q4: A Guide for Busy Entrepreneurs

Rachel Faciana
Jun 30
2 min read

Summer might feel like a time to relax—but for smart business owners, it’s the perfect moment to get ahead.

Planning now for Q3 and Q4 ensures you finish the year strong, avoid surprises, and keep your business on track even when things get hectic in the fall.

Here’s a practical, no-nonsense guide to help you plan for the second half of the year.

1. Review Your Year-to-Date Performance

You can’t plan forward without knowing where you stand.

Pull these reports:

Profit and Loss (P&L)
Cash Flow Statement
Balance Sheet

Ask yourself:

Are you on track with revenue goals?
Are expenses aligned with budget?
Is cash flow stable or strained?
Which products or services are most profitable?

This step helps you see what’s working—and what needs to change.

2. Update Your Forecast

A forecast isn’t a one-time exercise. It’s a living tool.

Steps to take:

Use year-to-date results as your baseline
Adjust sales expectations based on seasonality, trends, or economic factors
Include known expenses (inventory purchases, marketing campaigns, tax payments)
Account for staffing changes

A solid forecast helps you spot potential shortfalls before they hit—and gives you time to fix them.

3. Tighten Up Your Cash Flow Plan

Even profitable businesses can run into cash crunches.

Strategies to consider:

Review accounts receivable and follow up on overdue invoices
Negotiate better payment terms with vendors
Delay non-critical spending if needed
Build or replenish a cash reserve

Cash flow is king. Planning for it now beats panicking later.

4. Evaluate Your Pricing and Costs

Inflation, labor costs, and supply chain changes can silently eat away at margins.

Mid-year is a good time to:

Review pricing—should you increase it?
Evaluate discounts or promotions for Q4
Analyze costs—are there areas to cut or renegotiate?
Review subscriptions, services, and vendor contracts

A small price adjustment or cost cut can significantly boost profit over the next six months.

5. Plan for Year-End Taxes

Nobody wants a surprise tax bill in December.

Tips to stay prepared:

Check in with your accountant or Fractional CFO
Review estimated tax payments
Make catch-up payments if needed
Consider tax-saving strategies before year-end

Planning now avoids scrambling later.

6. Align Your Team

A plan only works if everyone’s on board.

Hold a mid-year team meeting to:

Share goals for Q3 and Q4
Clarify priorities
Assign responsibilities
Build morale for the second-half push

When everyone knows the plan, you get better results with less stress.

7. Set Actionable Goals

Don’t just say “make more money.” Make it real and specific.

Examples:

Increase revenue by a set percentage by December
Collect all overdue invoices by September
Build a two-month cash reserve by year-end
Reduce operating costs by a set percentage

Specific goals create accountability and focus.

Bottom Line

Busy entrepreneurs don’t have time to waste. Taking a few hours this summer to plan Q3 and Q4 can save you weeks of stress later—and set your business up for a strong finish.

And you don’t have to do it alone.

At Western Reserve Consulting, we help small businesses: