Summer is over…the kids are back to school… it’s time to get re-focused and back to business to ensure you achieve your key goals before year end….
To guarantee your success, make sure to take time out of your business this September to review year-to-date performance and develop your plan for the final quarter of the year.
Here are our 5 top tips to help you with your Q4 plan:
1. Plan time to plan!
Schedule one full day every 90 days to focus on developing a clear plan for your business each quarter. Quarterly rather than annual planning is always recommended as it keeps you focused on key outcomes, and allows enough time to test and measure new strategies and make any necessary changes.
Pop the date in your diary and invite any key members of your team. This way you have all the key information at hand, get buy in from your senior team, and know that you are all striving towards a common goal!
We always recommend getting out of your regular work environment so there will be no distractions.
2. Review Previous Performance
Review year-to-date financial and strategy performance versus prior year performance.
This provides you with an insight to what’s working, what’s not working, and what needs to change!
3. Make Any Necessary Changes
Based on the previous quarters results, review how your approach can be improved to generate greater productivity and results over the next quarter.
If a strategy is not yielding results don’t be afraid to scrap it and try something new!
4. Don’t Forget Your Personal Goals
Set out your key business goals for the quarter ahead but don’t forget your personal goals too so you can achieve the work / life balance your deserve.
5. Set Realistic Timelines
Once you have established your quarterly goals, be sure to allocate an owner and time frame for completion.
Be sure to enter them into your calendar so they are not forgotten in the day-to-day running of the business.
Having a quarterly business plan is essential to keep you focused and on track with targets. We hope these tips help you to achieve your goals by year-end.
If you would like some help to develop your final quarter plan, why not join us at our upcoming GrowthCLUB Quarterly Business Planning Workshop, Thursday 22nd September in the Crowne Plaza Dublin Airport. Click herefor more information and to register your place or call us on 01 891 6220.
Or if you would like to avail of a complimentary Business Review with one of our top Coaches to uncover ways to grow and improve your business, please fill in your details below and we will be in touch to arrange your appointment:
Don’t lose sight of the goal posts this summer – stay on target with regular Quarterly Business Planning…
So we have reached the halfway mark of 2016 – where did that time go? And more importantly, how has business been for you so far this year?
Are your numbers where they should be, or where you expected them to be? With 6 months gone, are you on track to hit your sales and revenue targets for 2016?
Now that we are officially into the summer season, it can be easy to lose focus of your goals or targets, what with managing staff holidays, and depending on the industry that you are in, perhaps dealing increased footfall.
However it’s important not to lose sight of your over-arching business objectives. Without regular quarterly planning (summer included), another 3 months could easily slip by and you could be slipping further away from achieving your year-end personal and business goals and targets.
Half way through the year is the perfect time to take stock of how business is performing against what you had set out at the start of the year. There is still plenty of time to course-correct.
If you are not on target, take the time to assess what went wrong and what you can do to get back on track. If you are performing better than expected – what went right and can you keep doing it?
Here are 10 top tips to keep you on target with your goals with your quarterly business plan this summer:
Review Your Numbers – compare total Income, Gross Profit, Net Profit for the quarter just passed, against the previous quarter, and against the same period last year.What’s the change year over year? Get even more specific – break it down by product / service….
Based on the figures, and what you wanted to achieve this year, what’s your financial targets for the quarter ahead?
What should you stop doing? What should you start doing? What should you do more of?
Write down 3-5 goals that you need to accomplish in the next 13 weeks.
Get specific – rewrite each of these goals into the SMART format – Specific. Measureable. Achievable. Results focused. Time based.
Break it down – Write out each task that needs to be completed to accomplish each goal. Tasks should be low level, reasonable, and should be able to be achieved in a week or less.
Share your plan with your team, or even better – get them involved!
Assign a completion date to each task.
Assign a team member to take ownership and accountability of the completion of each task.
Schedule regular team meetings to review progress of your goals over the next 13 weeks. With continued focus – they run a much higher chance of being achieved!
Sounds easy doesn’t it? It can be if you take the time out of the day-to-day to do it, and are disciplined enough to see it through.
If you need a day out of your business to work on developing your plan with one of our expert Business Coaches, join us next Thursday 30th June at our full day Quarterly Business Planning Workshop. Just click here for more details, or give us a call on 01 891 6220.
Would you like to be the best in your industry? Can you take your business from Good to GREAT?
The book Good To Great by Jim Collins is an essential read for any entrepreneur and business owner. It outlines the organisational changes required to move from performing at industry average level to becoming industry leader.
This short video that we have come across by Callibrain provides a great visual summary of the key take-way’s from the book. We recommend you check it out in order to help you make some key changes to take your business from good to great:
If you would like some help putting your plan together to transform from good to great, we invite you to join us at our upcoming Quarterly Business Planning Workshop taking place Thursday 14th April in Dublin. Please click here for more information or to sign up today.
Have you ever asked yourself: Why am I doing this? What’s it all for? If you are a Business Owner there is no doubt that at some stage of your career as an entrepreneur, those questions have crossed your mind. But what exactly is the purpose of business?
If asked this question, any random group would say: “To make money of course”. In this short video, Brad Sugars, Founder and Chairperson of ActionCOACH Business Coaching explains the subtle difference in the purpose of business versus the purpose of having your own business;
The Purpose Of Business – is to Profitably Create Raving Fans.
The Purpose Of Having Your Own Business – is to Create Excess Income For Investment.
Peter Drucker famously wrote in The Practice of Management that the purpose of a business is to create and keep a customer. However, as Brad explains says in this video:
“the raving fan is important in business. But the raving fan without profit is of no benefit.”
To learn more, watch this short video clip:
If you would like to generate more profit in your business, why not join us at our upcoming Quarterly Business Planning Workshop taking place Thursday 14th April. Click here for more information or to register your place, or give us a call on 01 891 6220.
Quarterly Business Planning Workshop for Irish SME Business Owners and Management Teams
Sunday Business Post journalist Emmet Ryan recently interviewed GAA star, entrepreneur, and client of ActionCOACH Business Coaching Ireland Philly McMahon.
In the interview Philly discusses how with the help of a Business Coach, he has become a huge success both on the football field and in the world of business. Check out the full interview here:
Click here to Read Article and if you would like to speak to one of our Business Coaches to understand more about how Business Coaching could help you develop and grow your business further please fill in your details below or give us a call on 01 891 6220.
As it’s the start of the New Year, you have probably already made some personal New Year resolutions like going to the gym more or eating healthier, which we hope you are sticking to so far! Now is also the ideal time to not only assess your personal life, but your professional life too.
It’s important to look to the year ahead and decide on some resolutions and goals for what you’d like to accomplish in your business. It’s a common fact most resolutions are forgotten about by the time we hit February as it is hard to keep up the enthusiasm for months on end but it’s not impossible. This year try to pick one or two worthy resolutions and stick with them.
Regardless of the type of business, here are five New Year’s resolutions every business owner should make to help you strike a better work-life balance, so you can achieve a truly satisfying and successful year ahead:
Automate or Delegate Routine Time-Sapping Tasks
There are so many things to do as a business owner and it’s easy to delude ourselves that we need to do all of them. Then we wonder why we’re so tired and frazzled and have no time to do anything else like actually work on building our business or enjoying the fruits of our labour.
Put a value on your own time, and always look for opportunities to delegate or automate recurring tasks or low-value activities. The best use of your time as a business owner is not troubleshooting, being the number one contact for your customers or getting bogged down in admin, but is in seeing new business opportunities, providing leadership to your team and mapping out the future of the business. Give your team the tools and processes, then watch them shine and see how much time you gain for more valuable activities.
Create a Default Diary & Plan For Fun
During the day-to-day running of a business, it’s too easy to get distracted with unnecessary tasks. By creating a default diary your time will be better-managed to focus on the important, valuable tasks, and you will get more quality work done in the available time.
When setting out your default diary for the year ahead, make sure to also plan in time for fun! Put some time in the calendar for what is important to you – e.g. Holidays, Children’s Birthdays, Sports events etc. You didn’t get into business to work all the hours that god sends. Make sure to reward yourself for a job well done. It will keep you more focused and passionate about what you do. All work and no play is a recipe for mental and physical disaster!
Learn Something New
Learning something new will add to your skills and add a new dimension of interest to your life. To grow and develop your business, you need to constantly grow and develop yourself! Depending on what you choose to learn, you will also meet new and interesting people, who may become customers, colleagues or friends. This will also help you in achieving a healthy work-life balance.
Go Meet More People
Join a good local networking or business group. There is nothing like talking to fellow business people to spark new ideas, refine old ones, and make valuable business contacts. It is a great way to spread the message about your business and gain valuable insights into how to move your business forward.
Review and Plan Regularly
Planning is vital if you want a healthy, growing business. Every business needs specific goals to strive towards, and without a clear roadmap, how are you or your team expected to achieve the desired outcome for your business.
Regular business planning lets you take stock of what is working in your business, what strategies are not working and what needs to change. It also helps you to set new directions or adjust old goals. Learn to set aside time in your new default diary every quarter to review, adjust and look forward. This will help you not only to avoid costly mistakes and stay on track, but will also help you feel more focused and relaxed.
We hope these few ideas help when choosing your professional New Years resolutions for 2016. Everyone knows keeping up these resolutions is hard work but if you can even just apply one or two it will make life easier and business more successful.
If you would like to learn more about how you can plan for 2016, join us on Thursday 14th January, at our 2016 Business Planning Workshop, when we will help you develop your winning plan for 2016. Click here to avail of our early bird special offer.