How to Set Q1 Business Goals Like A BOSS - Outsourced Finance

Although every entrepreneur sets their business goals, not many achieve them because they make a list of goals for the year and leave it that way. For you to achieve your business goals, breaking them down into actionable items over a shorter time period is advisable. If you implement the goals weekly, monthly, or quarterly, you have much more scope and control over the actions you take in relation to the overall goal. This way, you have a higher chance of achieving the goal. The following is a guide on how you can set Q1 smarter business goals.

 

Step 1: Start with the Big picture

It is ill-advised to create your quarterly goals without visualizing them as part of a bigger picture. Ensure that goals for the first quarter are practical and possible to achieve along with the overall goals. You can do this by planning out the goals for the entire year.

 

Step 2: Create Quarterly Goals

Once you have the big picture for the year, you can break the long-term goals into four quarters. Set milestones for each quarter that will help you achieve the overall goals for the year.

 

Step 3: Plan for Monthly and Weekly Milestones

For each month in Q1, you can set weekly milestones. These weekly bits are not overwhelming and are achievable within a shorter period, which can keep your employees motivated.

 

Step 4: Focus on Collaboration and Communication

Holding regular meetings with your team essential and necessary to evaluate current goals and their progress. The benchmark meetings ensure that people are on track towards achieving their quarterly goals. This also provides enough time to correct the course when necessary.

 

Step 5: Stick to The List, But Make Room for Flexibility

At times, even the laid-out plans can go astray and require room for change. While it is possible to predict many factors that can affect your business, change is inevitable and it may change your goals as well. For this reason, flexibility is crucial if you want to achieve your quarterly goals.

 

Step 6: Review and Reassess

Before starting a new year, you should plan out your strategy session with our team. Take the plans from the previous quarters and review your accomplishments in terms of the primary goals. You should then re-assess milestones or any areas where you missed the target. This is a way to identify gaps, learning points or issues within the team.

The changes you make sets the stage for the new quarterly goals and the primary goals that you must develop for the next business year.

 

Bottom Line

Once you start with implementing quarterly goals, you will never go back to a yearly overview of the goals you want to accomplish. This is because goals that are set on a quarterly basis are met faster and it motivates you and your team. However, you should not set too many goals for one quarter. Instead, focus on accomplish 2 or 3 goals rather than stacking many only to set yourself up for failure.

Xavier Olivier


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