The Third Quarter is the Time for Business Change

Infographic illustrating a cyclical process for implementing change in business with arrows labeled 'Plan,' 'Develop,' 'Test,' 'Deploy,' and 'Review,' surrounding a central gear icon.

The third quarter is often overlooked in business planning. Right between the busy first quarter and the big end of year push in the fourth quarter, the third quarter can feel slow like the dog days of summer. But those of us in the accounting world know it’s the perfect time for strategic change!

The first quarter is a very busy time of year, with those of us in the financial space focused on tax filings, financial audits, and setting the year’s goals. The second quarter is the time for business growth — planting the seeds for success that will bear fruit later in the year. By the time the third quarter comes around, things have settled down, making it the perfect time to reassess and implement business changes.

"Infographic featuring a circular process diagram with an arrow indicating progression, highlighting the importance of the third quarter in business strategy."

Why the Third Quarter?

The third quarter is the perfect time for change. The pressures of tax season have passed, and the final quarter’s end of year rush is still on the horizon. This period provides businesses the space they need to reflect on the first half of the year and plan for what’s to come.

For our business clients, this is the time when we help them step back and evaluate what’s working, what’s not, and what needs to change. Unlike the first quarter, which focuses on filing and planning, the third quarter is when we help our clients make strategic adjustments and forward-thinking plans. 

Areas to Focus on

1. Financial Planning and Analysis: The third quarter is the ideal time to reassess financial plans. We look at our client’s mid-year financial performance. Have their revenue projections held up? Are their expenses in line with your budget? During this time we help our clients to adjust and make a plan for a strong end of year.

    2. Efficiency in Operations: With the first half of the year behind us, now is the time we help our clients streamline operations. Are there processes that can be automated? Are there cost-saving opportunities that have been overlooked? The third quarter is the perfect time to implement these changes without the pressure of the end of the year deadlines.

    3. Strategic Business Development: The third quarter is also a great time to revisit long-term goals. We check if our clients are on track to meet them. Do they need to pivot? At this time we also help our clients to explore new markets or products, to set their business up for success in the coming year.

    "Circular infographic with an arrow emphasizing the third quarter as a critical period for business change, with icons representing analysis and innovation."

    Implementing Change

    Change management is essential during this time. It’s not enough to identify the areas where change is needed—you need a clear plan to implement them. We set clear objectives and timelines for each change. We help our clients communicate these changes to their team and make sure they understand the reasons behind them. Together we monitor the progress regularly and are prepared to pivot as needed.

    Leveraging the third quarter is your business’s secret weapon for scale, growth, and success. We don’t wait until the pressure is on in the fourth quarter! We help our clients take advantage of this time to make the changes that propel their business forward.

    Don’t let the dog days of summer slow you down, if you’re ready to take your business to the next level, KBS CFO can help. Contact us today to learn how we can support your business through this important time of change.