If you want to have any sort of longevity and to succeed in entrepreneurship, you have to plan for it. Everyone tends to focus on annual planning, especially during the last quarter of the year — hoping to set themselves up to win in the coming year. While annual planning sets the overarching tone, breaking it into quarterly segments allows business owners to be proactive when it comes to constant changes in their businesses — especially as it relates to opportunities and challenges.
Now, we're not just talking about breaking your annual planning into quarterly sections (which you should do, by the way). But we're talking, in this article, the necessity of making time in your schedule for quarterly strategic planning sessions. It allows you to constantly keep a pulse on your business to have a bird's eye view of what's going on, what's to come, and what pivots you may need to make in preparation for the upcoming quarter. Let's get into the critical areas of focus during your quarterly planning sessions, unveiling the strategies that can truly transform your business trajectory.
Why Quarterly Planning Matters
Agility and Adaptability
When you make time for strategic planning prior to the beginning of each quarter, you'll have an accurate map of where your business is going. So when you need to make adjustments, which often happens, you will be able to do so. It helps you stay agile so you can quickly adapt to market changes, capitalize on emerging trends (when they make sense–more on that another time), and refine your approach based on valuable feedback from your audience. This adaptability positions your business as responsive and ahead of the curve.
Focused Goal Setting
When you have quarterly targets, you have a more nuanced lens to view and refine your yearly goals. Breaking down larger objectives into smaller, manageable milestones not only provides a clear roadmap but also fosters a sense of accomplishment with each successful quarter. This approach cultivates motivation and sustained momentum. It also increases your confidence in yourself as a business leader.
Maximizing Opportunities
As an entrepreneur, you'll find that there are always unique — and often unexpected — opportunities that present themselves, especially if you're in an industry like coaching or consulting. You have the ability to position yourself in ways that larger businesses cannot. With that said, quarterly planning allows you to make sure you're ready to seize those opportunities when they come. Regular reassessment allows you to stay attuned to shifts in the market, giving you the agility needed to stay ahead of the competition and maximize your business growth.
Key Areas of Focus During Quarterly Planning
Revenue Goals
Revenue goals are usually the most important thing for business owners. Your business growth and success, in general, is determined by how much money the business is making. We generally set annual revenue goals and then divide it by four (4) to set quarterly targets. However, when you sit down to plan quarterly, you'll be able to notice the intricacies of what's happening each quarter. You may notice that quarterly revenue targets need to change based on changes in the market by season, customer behavior, and other factors that affect buying decisions.
When you analyze which products and services are performing the best, you can explore where you can offer upsells, where downselling may make more sense if the customer isn't quite ready to buy, and even if creating a new product tier or making pricing adjustments to current product tiers may be helpful in growing the bottom line. Taking this type of granular approach aids in ensuring there are strategic initiatives tied directly to each area of business growth.
Services & Digital Product Suite
Perform a holistic evaluation of your services and digital product suite. Consider the relevance of each product or service, then identify gaps in your offerings. Do your offerings serve your audience's needs? Are there other problems you're positioned to solve for them in the same niche? Solicit and analyze customer feedback to understand their evolving needs. Are you creating things no one asked for? Sometimes pivoting is necessary. You may need to update your current offerings or introduce new ones that better serve your audience. You also want to make sure that what you offer is in alignment with market trends (and no that doesn't mean everyone should be teaching on A.I. 😉). Ultimately, you want to know that you're not completely behind the times and that your digital product suite is still competitive.
Lead Magnets and Funnel Optimization
Every so often, you'll want to strategically refine your lead magnets and sales funnels. They are integral components of your customer acquisition strategy so it's key to make sure they are still working and still relevant. Analyze if they're still relevant and in line with what your potential clients want. I recall a past coach of mine always saying, “Don't nobody want your funky PDFs.” 😂 And as harsh as it may sounds, her point was that your free offerings should be just as valuable as your paid content. It should be something useful that someone wants to give you their name and email address to obtain — not something that will just end up sitting on their hard drive somewhere months and years after they've unsubscribed from your list. Because they will unsubscribe if they don't feel you can help them or provide information and resources that are helpful to them.
When optimizing your sales funnels, you want to make sure each step of the customer journey guides them seamlessly from awareness to conversion. Ensure every step serves a purpose in nurturing leads and driving sales, creating a cohesive process that takes potential clients on a “journey of belief” and trust that you're the one to work with.
Content and Messaging Strategy
Review your content strategy to establish a more impactful online presence. You should be consistently making sure that your messaging resonates with your audience, reinforces your brand identity, and positions you as an authority in your niche. Plan content that not only aligns with your business goals but also creates a cohesive and engaging narrative across various platforms. This approach establishes a strong, consistent brand voice that speaks directly to your target audience. This is how your potential clients get to know, like, and trust you — and conclude if you're their “cup of tea”.
Operational Systems and Efficiency
Smooth, streamlined systems are essential for a thriving business. It's how you maintain efficiency and service excellence. Every now and then, you should be identifying areas in your business that can benefit from automation, leverage technology to reduce manual tasks, and streamline communication within your clients and your team. What systems are you currently using? Are they working well? Or do they need to be better optimized? When you have good systems in place, you'll free up valuable time and resources, allowing you to focus on high-impact aspects of your business and continue to be the visionary you know you are.
At We Can Handle It! Consulting, we acknowledge the various challenges faced by women entrepreneurs when it comes to strategic planning, especially if you're a solopreneur. If you're ready to propel your business forward, schedule a Business Review Session with us! This session is designed to delve into your business goals, conduct a comprehensive evaluation of your online presence, and explore how you currently connect with your audience.
For those seeking accelerated progress, consider a Strategic Planning Session or VIP Day — both of which you can ask about during your Business Review. These tailored sessions are designed to expedite the realization of your business initiatives, unlocking a faster path to success. Our seasoned consultants are here to provide personalized insights and strategies, ensuring your business thrives in a competitive market.
Don't let another quarter pass without a clear plan. Contact us today, and together, let's unlock the full potential of your business. We Can Handle It – Let's Plan Your Success!
