The end of the quarter is always a big time in most companies. As the quarter wraps up, businesses often add an extra “oomph” to their efforts to meet their quarterly goals and objectives. If the KPI’s aren’t looking so hot, it might mean it’s time for a change in gear. Or you could be right on track to achieve success. Either way, it’s important to end each quarter with a bang in order to keep your business moving forward.
Here are some end-of-quarter essentials to remember to finish the quarter strong:
- Stay positive – every day counts and the quarter isn’t over until it’s over
- Measure your performance
- Compare your performance to previous quarters
- Reflect on the numbers and the experience – How did the quarter go?
- Plan for the next quarter
Arguably, the last bullet is the most important. If you haven’t begun your next quarter planning, then you’re already behind.
Why do quarterly planning?
Every business owner starts their venture in hopes of success, but you’d be surprised how few business owners actually plan for success.
Quarterly planning begins by first having an overarching goal for the year, answering the question: How do you want your business to improve or grow from last year? Once you’ve answered that question, you can then break down that goal into quarterly objectives. Based on these objectives, quarterly planning details your strategy for working towards and measuring success each quarter.
When to do quarterly planning
It may seem obvious, but many business owners often neglect to plan for the next quarter before it begins. It’s easy to fall behind, especially when you’re working hard to meet this quarter’s goals.
Make sure you start your quarter off right by beginning your quarterly planning prior to the next quarter. Don’t wait until the last day of the quarter to strategize for the next one. Doing so doesn’t allow time to develop well-formed objectives and action steps.
If you haven’t started your Q3 planning yet, don’t worry. There is still time to create a plan; you should allot about a week’s time to focus on the next quarter planning.
Don’t know where to begin quarterly planning or how to properly implement? GrowthCLUB is a great opportunity to learn some quarterly planning best practices and share ideas with other business owners, and then create a quarterly plan of your own!
Q3 is approaching quickly, and so is our next GrowthCLUB workshop. If you’re ready to get your business on the track to success, this quarterly planning workshop is one you don’t want to miss. Register for GrowthCLUB today!