March 8

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Business Strategy: 1st Quarter Performance Tip

YOUR Business Rescue Coach asks:

Is too much time already slipping away?
Are you on schedule to meet or beat all your 1st Quarter goals?

I know, it’s hard to believe that we are already completing the first week of March!  For many of us that is the last month of the 1st Quarter.  Why is this significant? Well oversimplifying, the end of the 1st Quarter is similar to “The Sate of The Union Address” for your business.

March 31st for calendar-based business reveals:

  • Final numbers for the previous year.
  • Your commitment to your 2012 goals.
  • Provides you information as to how your business is performing in 2012.
  • Reveals what other actions you need to take to secure your 2012 goals.

These are all indicators re: performance – business performance, which is a mere reflection of how your team is performing overall. Entrepreneurs, this reflects where you are showing up strong and what needs more attention from you.

So why is this important right now?

This is the time you conduct the first half of your quarterly assessment (the second half occurs when you complete the quarter). Ideally, my intention was to post this topic last week and see if everyone is on the right track for ending the 1st quarter with a bang, but with my Dad’s heart surgery, I needed to bump this back a week. Yep, it’s that important that I still want to address this with you now – this quarter!

Imagine this: It’s the end of your business year and you are happy, light-hearted, and smiling – sharing all the good holiday cheer with everyone. You’re planning your winter vacation while visions of sugar plums dance in your head… why such delight? You did it. You completed the year precisely how you had forecasted your performance would be!!! Now, let’s do a reality check as this isn’t the case for most businesses! Let’s oversimplify and break it down into bite sizes.

Each year has 4 quarters, with each one having roughly 90 days.  OK, say it, “no duh!”.  These 4 quarters are indicators as to what is occurring with each aspect of your businesses performance. (This is why I am always amazed when people don’t have a clue if they are performing or not!)

QUARTERLY PERFORMANCE TIP:

If you understand how you are performing by the 55th day of each quarter, that week you can begin to adjust your activities to optimize each quarter – before it ends! That’s right, the “Quarterly 55 Day Check-up & Re-adjustment” to align activities to deliver your quarterly goals is crucial for your business’s annual success!

YOUR Business Rescue Coach’s Action Item:

You guessed right, I am encouraging you to conduct 4 preventive strikes a year. If you do this you will be aware of your pace throughout the whole year (not just during the last quarter when people typically kill themselves trying to make up for all the gaps they acquired throughout the year! Be kinder to yourself and your team by performing  Your “Quarterly 55 Day Check-up & Re-adjustment”  four times a year to assist you gracefully in attaining your annual goal.

Curious: Do you formally do this, or something similar? Please share in “Comments”.

If you or your business needs rescuing on this particular topic
or any other Business Strategies we have been discussing,
please reach out to Maggie (262) 716.7750   FYI: I’m in the Central Time Zone

Blessings of Success to YOU ~
The Business Rescue Coach, Maggie Mongan
Brilliant Breakthroughs, Inc.


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