Something that completely changed how I ran the company was by setting quarterly priorities. Again, this is a very large topic so this will be the shorthand version, as I am currently writing a book that will have the in-depth version of how to complete this.
To start, we need to figure out what your company needs to get done this quarter.
Preferably you have your 1 and 3-year goals, that you can draw ideas from what you need to complete this quarter.
If not, think about what you have to accomplish this quarter. As in, if you don’t do X, you won’t have a company anymore is a good start.
Most likely, it will have something to do with getting sales (Sales and/or Marketing), or keeping sales (Customer Service and/or Operations).
Taking sales as an example, what dollar amount in sales do you need this quarter? As in, what will cover all of your operating expenses? What will hit your profit goals?
This step will take a while, but is vital to know what you need to do.
Then we make it a SMART goal (which I’m sure all of you have heard of). If you have never heard of this, it needs to be:
An example of a good SMART Sales goal for the quarter might be:
$300,000 in revenue for Q3
– $70,000 Month 1
– $100,000 Month 2
– $130,000 Month 3
And revenue is useless without turning a profit.
So your next SMART goal could be for Operations:
8% Profit for Q3
– 7.8% Profit Month 1
– 7.9% Profit Month 2
– 8.3% Profit Month 3
It will then take a lot of time to figure out exactly how your team can hit these metrics.
After you figure out the how, you need to make and hold people accountable to each step(s) of the process.
Lastly, assign a few company leaders to own the overall result (such as Q3 $300,000 revenue)
What does your COMPANY need to complete THIS quarter?