Time for Your Quarterly Business Plan ReviewPosted by Jessica Oman
Can you believe it’s the beginning of April already? In business terms, April Fool’s Day signifies the beginning of the second quarter – the perfect time to look back on the plan you created for this year and see what needs to be adjusted and updated.
How To Review Your Own Business Plan
You only need to take an hour to do this exercise, but it’s really crucial to keep you and your business on track. At the very least, review these three sections of your business plan:
- Short Term Goals & Objectives
- Financial Targets (Revenues & Costs)
- Marketing Plan & Goals
If you didn’t reach all of your short-term goals, reflect on why. What worked well, and what didn’t? Do you need to set those same goals again, or make new ones?
If you met or exceeded your financial targets, that’s amazing – whatever you did worked, so it’s time to recognize your team for their accomplishments. If you fell short, consider what you need to change to make them happen in Q2.
Finally – has your marketing plan been successful so far? Here at Write Ahead, we set five measurable targets for Q1, and we only hit two of them. That’s okay though; we know what we need to adjust to do business even better from now on.
Tell us: What goals did you achieve in Q1, and what will you do differently for the next three months?
Photo credit: Cliff