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1st Quarter Results
Can you believe it? We’re already through 25% of 2010. It made me start thinking about how things are going so far. Like many, I started this year with some well intentioned resolutions, goals and dreams. I had a plan. I made lists. I bought office supplies. I spent some time getting ready. I spent more time getting things done. Taking action.
Going Public
Public corporations with shareholders have to publish quarterly reports. They are required to let those who have a stake know how they did. What if you had to do that? Yikes! What if you had to publish your sales and revenue numbers? Or the number of new clients? What about just accounting for your time spent on a project or connections made, partnerships formed? What if you had to demonstrate your return on investment?
As a small business owner, I am intimately aware of revenue and cash flow. I have a good bead on my clients and prospects. I keep track of my sales pipeline – those things are easy for me. I’ll confess that I didn’t hit my projections for Q1. I sure don’t want to have to publish my results.
Size Matters Measurement Matters
Being accountable, even just to yourself or include your spouse/partner or trusted friend will impact results. What you measure matters. If the thought of spreadsheets and bar graphs freak you out, do it your way. But measure, track and report – even if it’s just for you. Especially if it’s just for you.
Rx: Suggestions for Q2
Post your revenue goal on your desk or calendar or iphone. Anywhere you’ll see it every day.
Break it down, so you know how much you need to sell each day, or by units sold or number of clients registered. What works in your business?
Pick one or two next steps and commit to making them happen in Q2. Break it into 12 steps – 1 for each week of the quarter.
Ask someone to be your accountability partner. Report to them weekly with your progress.
Do you have another way to track your progress?
Do you publish your own quarterly report? I’d love to hear how it works for you.
How can I help you stay on track?
Phyllis – You are right. I track my pipeline – but keeping it out where I can see it – with small manageable goals will help keep me on track!
I also like how you say Measurement matters!
Thanks for the feedback. I know seeing my goal helps me take the extra step and keep on track. Do you use a client mgmt software?
Measurement matters…what a great reminder! It’s easy to watch the calendar fill up and before you now it, half the quarter is gone. I love the weekly bite-size steps to help keep it in perspective. Nice post Phyllis!
Thanks Teresa. Time does get away from me so keeping track helps!