Think BIG
Friday Business Tip
March 27, 2015

You MUST Monitor Your Business Plan

Effective business plans demand on-going evaluation. This means that you need some type of scorecard analysis reflective of your annual goals or at least in a simple view, a fundamental comparison showing what has been accomplished to date versus what is to be accomplished for the year. As a business professional this is perhaps one of the most fundamental demands that too often becomes a passive outcome.  Plans are made but results not closely checked. Therefore too often plans fall short of their goals. 

To effectively impact results, it is vital to be fully aware of accomplishments versus shortfalls. With that in mind, it is critical to establish key check-in points for thorough evaluation to be conducted. Many successful business operations find that quarterly analysis is important to be able to respond versus react to business performance; and, that a lengthy quarterly analysis when conducted will positively impact the balance of the year and lay the groundwork for the next year’s goal planning.
 
As you look at your quarterly goal results, what are some vital questions that should be reviewed so that you might gain critical insight and begin to respond to your result realities? Here are some to consider:
  1. What areas have experienced the most success and specifically what has brought this about?
  2. What areas have experienced the most shortfall and specifically what has brought this about?
  3. What specific actions must be undertaken to continue success in the areas of highest achievement so that goals are met or exceeded for the year?
  4. What specific changes must be made to alter the current outcome of the areas of shortfall so that goals might be reached or gaps closed for the year?
  5. What will you as the leader do in the next 3 months to lead your team and business to achieve the goals you initially established for the year?
  6. What specific actions by what members of your team in the next 3 months must be achieved for your business year to be successful?
  7. What are the most critical 4 challenges you will face the next 3 months as you strive to hit your business goals? What must be done to overcome these challenges?
  8. On a scale of 1 being “I am not that interested” to 5 being “I am all in!”, how committed are you to reaching your business goals by yearend? How about your team…how committed are they on the same scale? Unless you specified a 5 as your answer, what would it take for you to raise your level of commitment by 1 level?
  9. During the upcoming month, what specific contact or action do we need to take immediately to give the business a quick win?
  10. How will we celebrate success?
Business plans must be reviewed, analyzed and given critical focus if the right results are to be achieved. To deny that overview is to in essence lessen the importance of the plans and the business represented. When reviews are conducted and a broad-based analysis completed, such as a quarterly check-in, the probability of success is greater than a plan left unattended.  
 
As the very old but wise saying conveys, “If it is to be, it is up to me.”  As business professionals, we are indeed ultimately responsible for maximum results.  By keeping our results in the forefront and by conducting scheduled analysis of our plans, we lay the groundwork for achievement and a profitable climate in our business. Remember, “…the checker gets what the checker checks.” 
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Herman DixonThink BIG! Coaching & Training, Inc.
Herman Dixon
Author, Speaker, Executive Advisor
P. (304) 839-510
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https://thinkbig-coaching-training.coachesconsole.com


Author of the forthcoming book, Principles of Life and Leadership My Cat Taught Me