Three of Wands: waiting for what you set in motion to come back
wands

What stage of a project this three describes, how it differs from the Two of Wands and how its reading changes when it comes up reversed.
The illustration shows a figure from behind, on high ground, looking out to sea with ships in the distance and three wands planted beside them. Something has already been done. What's left is to see what comes back, and that interval is the theme of the card.
Upright, the Three of Wands describes the phase of a project where the initial work is done and the results haven't arrived yet. Applications sent, a business just opened, a proposal in someone else's hands. It is a card of expansion with a component of waiting, and the waiting here isn't passivity, it's watchfulness.
It is often confused with the Two of Wands, where the figure holds a globe and looks out from a wall. The Two is at the moment of deciding whether to launch. The Three has already launched. That difference, applied to a spread about a project, completely changes what kind of advice makes sense to give yourself.
In a three-card spread in the tendency position, it usually indicates the matter is moving but at its own pace, and that it doesn't depend entirely on you for a stretch. For someone pulling cards because they are impatient, that message is frustrating and usually quite accurate.
Reversed, the most common reading is waiting that drags on beyond reason: delayed plans, answers that don't come, the feeling of having cast something out to sea without receiving a signal. The other reading is of eyes fixed too firmly on the horizon, with something pending in the immediate present being neglected. The neighbouring cards usually clarify which applies, and nearby Pentacles almost always point to the second.
A note for the journal: when this card appears, write down exactly what you were waiting for and from whom. On rereading months later, that concrete sentence is worth more than any interpretation you write in the heat of the moment.