Why delaying business decisions now could cost you 5 months: risks and solutions
As we approach the final quarter of the calendar year, there’s a phrase that echoes in the meeting rooms and boardrooms of Australia: "Let’s leave it until next year." On the surface, delaying business decisions seems reasonable. After all, the October school holidays mark the start of the summer season, the beginning of end-of-year activities, business slow-down, followed by the Christmas break. It can feel like everyone’s winding down. But let’s consider the real impact of this mindset.
When we say "next year," what we really mean is mid-February at best. By the time the January school holidays end and your team is back, it takes weeks to regain momentum. What starts as a small delay can easily snowball into a 5-month hiatus that impacts your revenue, profit, team morale and more.
The hidden costs of delaying business decisions
1. Revenue loss: Delaying decisions on key projects, sales, or initiatives until next year can mean missing out on revenue in the first quarter. You’ll have to make up for lost time later, putting pressure on the rest of the year.
2. Profit erosion: Deferring cost-saving strategies, budget adjustments, or operational efficiencies can lead to profit margins tightening as you wait for the next financial year.
How much these delays cost us we will never precisely know, but I suggest you look at your historical financials for December - February for several years to have some understanding, taking into consideration the anomaly that was the Covid years.
3. Morale dip: When your team senses that decisions are being postponed, it can lead to disengagement. People may start coasting, thinking nothing will happen until after the holidays. Keeping momentum now sets a tone of focus and accountability, even during quieter times.
Why October-to-January is a critical period
The combination of the October holidays, followed by end-of-year events, and the January school holidays creates a perfect storm of inactivity. Business activity traditionally slows down, and it’s easy to delay. Combine that with a wobbly economy and it is even more tempting to hold back. But this is precisely where the opportunity lies. If you can get ahead while others are putting things off, you’ll set yourself up for a strong start in 2025. Taking lessons from the aggregation of marginal gains, there are some business strategies you can implement in your year-end planning.
Maintaining employee engagement and morale
Here’s how you can keep things moving without overloading your team—or yourself:
1. Prioritise quick wins: Look for low-hanging fruit that can be achieved before year-end. These could be smaller projects that provide a quick boost to revenue or operational improvements that free up resources for the new year.
2. Delegate and empower your team: Use this period to develop your team’s leadership skills. Delegating responsibilities not only lightens your load but also gives others a chance to step up and prepare for the year ahead. Set up leadership training so they are developing the skills they need for 2025.
3. Set micro-goals: Break larger goals into smaller, manageable tasks that can be completed by year-end. This keeps momentum without overwhelming your team.
4. Maintain flexibility, not complacency: While flexibility is important around holiday schedules, complacency is dangerous. Communicate clearly with your team about expectations and timelines so everyone stays focused, but also give space for rest and recharging.
5. Prepare for next year without delay: Now is the time to plan key initiatives for the first quarter of 2025. Secure resources, lock in timelines and line up the right talent. When everyone else is coming back from holidays, you’ll already be ahead of the curve.
The bottom line
Yes, the end of the year is busy. But instead of deferring everything until “next year,” challenge yourself and your team to stay productive. By tackling small projects now and planning ahead for the first quarter, you can keep revenue, profit, and team morale on track—without burning out.
Let’s get ahead now, so we can start 2025 with purpose and momentum, not with a 5-month delay.
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If you’d like to discuss how to keep your team motivated and productive through this period, feel free to reach out to me at nina@nmbpeoplestrategy.com.au. Let's keep moving forward, together.
Author of ‘Meaningful Work: Unlock Your Unique Path to Career Fulfilment’, Nina Mapson Bone is a people strategist, consultant, chair and keynote speaker. She consults with boards, CEOs, founders and executives on bridging the disconnect between strategy and the needs, motivations and capabilities of their people. Nina’s executive career has spanned three continents and diverse sectors. She was previously the Managing Director of Beaumont People, where she led a period of significant growth for the organisation, during which it was recognised with multiple awards. For more information visit www.nmbpeoplestrategy.com.au
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