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.