CommunicateYourMessage

Many Business owners get caught up in ‘Working in’ the business rather than investing their time ‘Working on’ the business. 

Some don’t think through their Strategic Business Plan enough, and others put it away and don’t refer back to it again…

For a business to succeed, it is not only important to create your vision, mission, strategy and business plan, but also to implement that plan and consistently check those results throughout the year.
This can be accomplished through a Quarterly Business Review, that if followed and updated every 3 months, will keep your Business on track or at least give you the opportunity to correct any issues before it is too late.

Please find our top ten tips for your Quarterly Business Review below-

 1. Break up your Review template into sections – Business Goals, Organisational Review, Sales and Marketing Review

 2. Under Business Goals – Complete a Planned v Actual, How are these affecting your bottom line?, Who is accountable?

3. Under Organisational – Review Operations, Production, New development, Staff, Time Management and Service

4. Sales Review – Financial Reports Reviewed and update on Budget/Targets v Actual, update with new Economic or Other Factors to consider

5. Marketing Review – Review results in a Planned v Actual, Key Finding by Event, Direct Marketing analysis, Database review, Gift Card Results, Loyalty Program results, Social Media results, Ecommerce results, Customer update, Competition Update, PR Results, discuss New Marketing and technology, consider other factors that have/may affect results.

6. At end of each section, discuss the plan for next quarter, consider any upcoming risks involved, and make any changes as required.

7. If there are negative results, decide on plan to correct and update plan accordingly

8. Create Task Sheets for next Quarter for all staff involved

9. Make a date for next review and stick to it.

10. Update this review onto the Yearly plan.