Fourth Quarter Goal Review
Holy smokes! How is it fourth quarter already?! I feel like I was just setting my annual goals last month. I like to look at my goals throughout the year to see how I’m tracking. But during 4th quarter, we have the opportunity to make a final push.
So let me start by asking you, do you remember your annual sales and profit goals for this year?
If you don’t, this is your friendly reminder to begin capturing them at the start of each year. It’s almost time to craft your plan for the coming year, so I’m planting that seed with you now!
The power of written goals is well documented – magic happens when you get your plans put on paper. If you don’t usually do this, make the decision now that you will going forward. This is part of stewarding your business well.
Ok, now assuming you do have or know your goals for this year, here’s what you want to ask yourself.
- Am I on track to hit my annual goals?
- Are there any holiday sales I need to start promoting now?
- How much additional revenue do I need to hit my goals?
- Do I need to adjust my goals up or down based on my year-to-date performance?
- Can I cut any expenses or do I need to invest in any additional resources to reach my goals?
Just like getting your original plan to paper, it’s worth writing out the answers to each of these questions. These questions are designed to help you keep on track for total sales goals and net income goals.
As an example, here is how I answered the questions.
- I am not on track to hit my annual revenue goal, but my net income margin is where I want it to be.
- I have never offered sales or promotions in my business, but maybe this year I should introduce a Black Friday discount code?
- To hit my revenue goal I need to make $10,000 more than is currently projected.
- My goal does not need to be adjusted.
- There is no need to cut expenses, but I plan to invest in a CRM and business consultant who can help me with my prospect management and follow-up.
Now that I know how much more I need to make, I can reverse engineer what that means in terms of clients. For my example this is equal to 3 additional monthly CFO clients and one more coaching client. Also, I know that finding a CRM and business consultant to help me organize it should also be on my list. As always, I hope you find this information useful! If you’re ready to take the next step, schedule a consultation today.
