Business planning for a quarterly win is just as important as business planning for the launch of your business. To go into a new business quarter with goals of making "$25k", but no plan of action on how that goal of "25k" will be attained would be poor decision making. A quarterly business plan will allow you to efficiently identify significant periods in your business where you may need to implement a new strategy. Periods such as; peak holidays and higher and lower volume profit months. Having a quarterly business plan may even allow you to determine when is the best time for your business to launch a new product or service.
Business planning for a quarterly win allows you to focus on your long-term business goals as chunks of short term business goals. Essentially, it refocuses how you approach your business every quarter. This, for some of us, can be a drastic mental saver to keep us from stressing over our annual financial target. Here are 3 tips on how to business plan for a quarterly win.
1. Review past business quarters
Sometimes you have to take a look at the past to navigate the direction in which you must go. This would be the perfect time to do just that. Business planning for a quarterly win includes reviewing your business results from the previous quarter. This will help you to determine previous business errors, areas for improvement, and what strategies you may need to keep in the upcoming quarter.
2. Create 3 focus areas
My mom always said to focus on one thing at time. Business planning for a quarterly win should include narrowing your focus to just 3 areas for the approaching business quarter. This will help you to establish clear quarterly business goals which will drive results.
3. Have an actionable plan
Do not forget the details of the plan. Don't just create the three focus areas of the plan, but add details. Create an actionable plan with what you are going to do every week of the month within your focus areas. This will give you clarity on how to implement tasks and other activities that will allow you to be successful in the monthly focus areas of your quarterly goals.
4. Plan Ahead
How many times are you going to be late to the party? Every quarter you low-key give other entrepreneurs the side eye when they launch new products, services etc. You wonder, how do they keep on grabbing all the good ideas? How did they organize that? When did they even plan this? Well I can guarantee you they planed ahead. While you were busy living life chaotically last quarter, they were already planning for the quarter ahead.
When will you create a "Priceless Plan" for your quarterly win?
ABOUT THE AUTHOR:
Sidjae Price, is the Owner and Organizational Consultant of Priceless Planning. She created Priceless Planning to help busy entrepreneurs, creatives and business professionals plan and organize their businesses, by implementing systems, strategies and structure. Through Priceless Planning, she strives to create a space for professional individuals to become more functional and effective on their entrepreneurial path. In Priceless Planning she is committed to always giving clients results through a developed plan of action to enhance the success of their business.
Currently, Sidjae is completing her doctoral dissertation, ad-hoc editor of an academic journal, co-authoring a few chapters in a book, guest contributor on a plethora of platforms and Founder of Speak Loud Inc., a 501(c)3 organization in Florida.