Getting Your Business Ready For The Next Quarter
By Ryan Velez
Running your own business is a constant cycle of working, reflecting on said work, and being mindful of situations both within and out of your control. While you will want to always have a watchful eye, there are certain built-in times for you to take a moment and reflect on your progress, like the end of each quarter. Black Enterprise recently put together an article on some ways that you can evaluate your performance and start planning ahead at the end of the quarter to grow your success.
As we mentioned before, reviewing your success is important, but success has a lot of different measurements, and you want to keep them all in your thoughts. For example, look at the various sales for your products or services. Is one over-performing or lagging behind your other offerings? In addition, consider how your quarterly numbers match up to your yearly goals. Are you on track to meet them?
Reviewing also means working through your various channels to see if everything is going effectively. If you have a business website, see if your traffic and functionality are leading to sales conversions. If not, you may need to reconsider your approach. Also, you’ll want to make sure that your online reputation is positive. Google yourself or set a Google Alert to make sure your business’s name isn’t connected to anything untrue or damaging.
The end of the quarter also makes a good time to start leveraging any network connections you may be looking to nurture. Start emailing those contacts you made and schedule time to follow up and talk about potential collaborations. You can also start indirectly by supporting their events, sharing their work, or commenting on articles/other material by them.
Along with finding new things to do, the quarter is also a good time to admit what the things are that you can’t do. By this, I mean aspects of the business that you are having trouble handling, like writing sales copy or redesigning a website. There are more means than ever to find skilled virtual assistants, interns and freelancers to work with. If your budget allows for it, consider delegating some of these side tasks, especially if you find that you are taking time fixing mistakes to the point where you are hurting growth in other areas.