Quarterly reviews key to strategic business development
HOW often and how well does your business manage its planning and strategic development process?
To answer this question, I thought it would be worth giving you an overview of The Guinea Group's quarterly planning process, as there are some gems that you might be able to take away and use in your own business.
Each quarter, our whole business gets together (you might do this with your leadership team only) and we go through the last quarter's results, and we look forward to what we are going to do to keep growing the business during the next quarter.
It is quite a simple process and one that works well for us.
The five parts of our quarterly planning process are a last-quarter review, a current client and project review, a new client and business development review, key actions for the next quarter and a goal-setting workshop (either personal or business goals).
The last-quarter review is important as it gives everyone an overview of the progress and financial status of the business.
The current client and project review is about focusing on what we are currently doing well, and not so well, and if anything needs to change or be improved with our current service delivery.
The new client and business development review is about brainstorming ideas for how we are going to grow the business.
This section should be facilitated by your business development team, as they are ultimately accountable for these outcomes.
The key actions for the next quarter is about outlining the big-ticket actions that need to happen to keep the business growing and moving forward.
Finally, the goal-setting session is about giving every person the opportunity to plan their goals and objectives for the next quarter - what they are going to achieve, either personally or professionally.
If you asked me what the most important part of the workshop was, it would be hard to answer with one section.
The new client and business development review are crucial discussions to have, as this is what will keep your business growing.
I hope this helps your business when you are thinking about quarterly planning next time.
Anton Guinea is business manager at The Guinea Group, which supports businesses by providing staff to fill positions. Visit theguineagroup.com.au.