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Strong Q1 Business Planning Sets Your Year Up for Success
I hope you got some rest over the holiday break, because 2021 is here, and it’s time to kick some ass.
The first quarter can be the most productive 3-month sprint of the entire year. It’s an opportunity to lean into the growth of your business and ensure that when December comes (barring a global pandemic), you’ve hit your numbers and achieved your goals.
Hopefully you’ve got an annual planning session completed or in the books for this month (if not, see if our consultants have any open days left in January). So you know where you’re headed for the next 12 months. Put in some heavy lifting now, and your business will see the benefits all year long.
Three important activities for every company to focus on in Q1:
Sell as much as possible.
Humor me while I restate the obvious! Rather than expecting annual sales to distribute evenly across all 12 months, push for more sales in Q1. Whether your sales focus on monthly recurring revenue (MRR) or depend on project completion, you’ll collect more revenue in 2021 if you get the goods sold now.
Start working on your annual goals now.
All quarters are not created equal. It’s harder to do business around the holidays: communication slows down and the holidays are (welcome) disruptions. Even the most ambitious entrepreneur should be taking some well-earned time off. Next year will be the same way. Set strong Rocks for Q1 to take a bite out of those annual goals early on.
Set up the capacity to execute on increased sales.
If your Q1 sales strategy succeeds, you may need increased capacity to deliver on those sales in Q2. Identify any key hires, start building a talent pipeline, and make sure your processes are in place to quickly onboard new team members. It’s an intricate dance to manage increased sales and increased staff: most companies wait until they’re way beyond capacity to even start this process. You may not hire right away, but the more proactive you can be with your planning, the better.