Planning for your Most Profitable Quarter Yet
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In this post, we're going to dive into a 5-step process of reflecting and planning in your business (no matter the time of year) that will help you close out the year strong and set yourself up for success in the coming months. Whether you're reading this at the start, middle, or end of the year, these strategies can be applied anytime you're ready for a reset.
The Power of Reflection and Goal Setting
Before we dive into the process, let's talk about why this kind of planning is so important. As entrepreneurs and business owners, it's so easy to get caught up in the day-to-day of running a business. We're usually wearing all of the hats; being the visionary, delivering on offers, admin, marketing, accounting and everything else we need to do it can be so easy to lose sight of the bigger picture and just how far we’ve already come - particularly when we’re ambitious and always have our eye on the next level.
That's where having an intentional reflection and goal setting process comes in. By taking the time to look at where we are, celebrate our wins, and set clear intentions we can continue to stay tapped in - aligning our daily actions with our long-term vision.
Now, let's dive into the process that can support you with that!
Step 1: Reflection
The first step in any good planning process is to take a moment to reflect on where you are right now. This reflection serves two important purposes:
It allows you to celebrate your achievements and acknowledge how far you've come.
It helps you identify any areas where we need to re-align our focus moving forward.
Celebrating Your Wins
Take a moment to think back to where you were when you started your business. Maybe your initial goal was simply to make enough money to cover your bills without needing another job and you’ve achieved that so it deserves recognition.
Don't just focus on the big wins, either. Consider the small victories, the lessons learned, and the personal growth you've experienced along the way. All of these contribute to your journey as an entrepreneur.
Identifying Areas for Improvement
Now, turn your attention to aspects of your business or life that aren't flowing as smoothly as you'd like. Are there areas where you're not showing up in integrity with your values? Maybe some bad habits crept in that aren't serving your higher goals?
This could manifest in various ways:
Maybe your client work is great, but your marketing efforts have been completely forgotten about.
Perhaps your business is thriving, but your personal health has taken a backseat.
Or maybe you’re just feeling disconnected from your initial passion or purpose.
As well as tuning into this from an energetic level this is a great time to review your data and analytics in your business if you don’t have this as a regular practice so you can identify whats working well and what might need some intention
Step 2: Set Clear, Intentional Goals
Once we have a clear understanding of where we currently are, it's time to set goals for the next quarter (or whatever timeframe you're working with). When setting these goals, there are a few key things to keep in mind:
Consider All Areas of Your Life
While we're focusing on business planning, it's crucial to consider your personal life goals as well. I’m a strong believer that it’s so important to view ourselves and our business as separate entities but as entrepreneurs, the line between work and life is often blurred. Your business goals should complement, not conflict with, your personal goals.
Think about what season of life you're in. Are you in a growth phase, where you have the extra time and energy to invest into your business? Or are you in a season that requires more of your energy in your personal life, meaning your business might need to be in more of a maintenance mode?
Use the SMART Framework
When I worked in corporate I had the SMART goal framework drilled into me but it’s really useful. SMART stands for:
Specific: Be clear and precise about what you want to achieve.
Measurable: Are you able to measure when you have actually achieved that goal?
Achievable: Set goals that are challenging but possible to attain.
Relevant: Ensure your goals align with your bigger vision and values.
Time-bound: Set a clear timeline for achieving your goals.
For example, instead of setting a vague goal like "increase revenue," a SMART goal would be "increase monthly revenue by 50% (from $6,000 to $9,000) by December 31st."
Set Tiered Goals
Consider setting tiered goals: good, better, and best. This approach gives you a range to work with and can help maintain motivation. For instance:
Good: Achieve an average monthly revenue of $8,000
Better: Reach $9,000 in monthly revenue
Best: Hit $10,000 in monthly revenue
This method allows you to celebrate progress at different levels while still pushing for your ultimate goal.
Step 3: Plan Your Path
Now that you have clear goals, it's time to map out how you'll achieve them. This step involves asking yourself two crucial questions:
1. Who do I need to be to achieve these goals?
This question is about mindset and energetics. Think about the habits, behaviors, and daily routines of someone who has achieved the goals you're setting. How do they start their day? What are their priorities? How do they handle challenges?
For example, you might realise you need to be more disciplined, more focused, or more willing to step out of your comfort zone and challenge yourself.
2. What do I need to do in order to reach these goals?
Break down each goal into smaller, actionable projects. If your goal is to increase monthly revenue by $4,000, your action steps might include:
Launching a new offer
Increasing your marketing efforts
Raising your prices
Creating more capacity in your business to hold more clients
It’s also worth considering what you can do outside of your business that can support you in reaching these goals. This could include outsourcing household tasks that you don’t enjoy to free up more time for work or rest.
Step 4: Implement Your Plan
Having a plan is great, but it means nothing without implementation. This step is all about using strategies to support you in actually taking action.
Create a Weekly Rhythm
Design a weekly schedule that allows you to get into deep work and have time for all the important tasks and activities needed to reach your goals. This might include:
Dedicated days for specific types of work (e.g., content creation, client calls, admin)
Regular time blocks for important but non-urgent tasks like marketing or personal development
Scheduled breaks and self-care activities to prevent burnout
Here is another post I’ve done on Mastering Your Weekly Rhythm.
Use Project Management Tools
A Project Management tool can help you to keep track of your tasks, deadlines, and progress. My recommendation is ClickUp.
You can find a full list of tools and platforms I recommend for coaches and course creators HERE.
Delegate and Outsource
If achieving your goals requires more time or skills than you currently have, consider what tasks you can delegate to team members. This could include both business tasks and personal responsibilities.
Step 5: Staying Tapped into the Vision
The final step in this process is arguably the most important: regularly checking in on your progress and making adjustments as needed. Without this step, it's so easy to set goals and then forget about them as you get caught up in the day-to-day of running your business.
Here are some ways to keep your goals front and center:
Weekly CEO Dates
Schedule a weekly "CEO date" with yourself. Use this time to review your progress, celebrate wins, and plan for the week ahead. This is also a great time to make any necessary adjustments to your plans based on what's working and what's not.
Visual Reminders
Create visual reminders of your goals. This could be a vision board, a simple list posted where you'll see it daily, or even a desktop wallpaper on your computer.
Scripting Practice
This is my favourite practice for staying tapped into my vision. This involves writing out your ideal day or life as if you've already achieved your goals. For example, you might write:
"It's December 31st, 2024. I've just closed out my most successful quarter yet, with an average monthly revenue of $10,000. I feel confident, fulfilled, and excited about the impact I'm making through my business..."
You can record yourself reading this script and listen to it regularly, or simply re-read it as part of your morning routine. This practice helps keep you connected to your 'why' and the bigger picture of what you're working towards.
Remember, the purpose of this planning process isn't just about hitting specific numbers or achieving certain milestones. It's about intentionally creating a business and life that aligns with your values, passions, and long-term vision.