The 90-Day Planning Cycle And Why It Works
It's vital to have a plan ...
POSTED BY PAUL BROOKSBANK ON 27/09/2018 @ 8:00AM
Ask a business owner about their business plan and you'll get varied responses. Many just don't have a plan, some will say it's in their head and for others, it's filed away, gathering dust ...
Instead of planning too far ahead, try the 90-day planning cycle!
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A business plan may only be pulled out of the drawer once a year to check progress, but quite often businesses are not on track with the plan, and it's then established that 'plans don't work' in the mind of the business owner.
"So let's talk about the 90-day planning cycle!"
If you want to set goals, and hit them, it's vital to have a 'working plan' and this is what 90-day planning is all about. You still need to know what you want to achieve in the longer term (3-5 years ideally), but planning a whole year in detail is a waste of time.
A lot changes during a year, and it is far too time-consuming to plan a whole year in detail anyway. So, equipped with long-term goals, ensure you take one day each quarter to work on a plan for the following one.
Stepping outside your business for a whole day allows you to look at the bigger picture, regain focus and clarity by reviewing the past quarter and planning for next 90 days.
Key elements of the 90-day planning cycle include:
Revisiting longer-term goals, and deciding which elements to work on in the next quarter.
Narrowing down your focus to 5 or 6 key goals, of which half should be about making money! Other goals like staff development are just as important, there should always be a focus on increasing profit!
Each goal should be SMART, and broken down into a series of steps that will be needed to implement them.
For each step, one person should be assigned as responsible and given a completion date. The whole company should be focused on 90-day goals, not just the senior management team!
Repeat the process every quarter!
With this level of detail and focus every 90 days, most businesses find that within a year, they've achieved much more than they thought possible.
Fail to set aside that day each quarter and plans start gathering dust and progress towards your goals slows down. This is why we hold a 90-day planning workshop every quarter for clients at all levels to attend.
As well as a productive planning day, it's always an excellent opportunity to network with other local business owners and bounce ideas off each other!
Our next workshop is coming up soon, on Friday 5th October at The Bedford Golf Club. You can book your place on Eventbrite for just £99 if you haven't previously attended. An invoice will be sent after registration.
"Would you like to know more?"
If you'd like to find out more about the 90-day planning cycle then do give me a call on 07590 584642 or click here to ping me an email and let's see how I can help you.
Until next time ...
If you're looking for a specialist business coach in the Bedford area, you can find out more about me by visiting www.facebook.com/actioncoachbedford . Let's see how I can help you achieve your goals!
Are you a motivated business owner working far more hours than you would like in an average week? Do you feel frustrated that despite the hours you work, your business isn’t growing as fast as you’d like and profits aren’t at the level you think they should be? Is a lot of your working week spent fire-fighting and do you think that your time spent in the business could be more productive?
Do you feel like there’s untapped potential in your business but you are so bogged down working ‘IN’ your business, that you lack the time, energy and resources to work ‘ON’ your business and take it to the next level? Would you like to know how you can both reduce the hours you’re working and grow your business faster? And yes, it is possible.
If so, business coaching could be right for you!