Fall Forward: Maintaining Focus
With the long, hot days of summer in full swing, attention spans often wander to thoughts of vacation and summer fun. We often find that teams let their minds wander from their growth plans, as well. Now is the time to take a hard look at how your firm is doing and make the adjustments needed to finish up the year strong.
Start with your goals. Are you on track? Have you been implementing your strategy? What tactics are working? Which need to be eliminated or modified? With the second quarter in the books, the summer season is the opportune time to reflect, review and realign to keep 2014 focused on success.
Markets change, people change, opportunities change, and economies change. We live in a world where things change faster than ever. This is why you must begin by reassessing your financial plan and financial goals. See where your firm stands. Look at revenue and profit. Is there growth? Measure and plot the progress. Any change in revenues per client? Any changes in budget? Think about all that you have accomplish so far this year. Assessing where you stand in terms of finances ensures that the foundation is solid to finish the year strong.
Once you have a grasp on how you stand financially, think about your firm internally. Note any and all changes that have occurred since the beginning of the year. Have there been any significant changes to firm wide strategy or direction? What about goals or objectives? If so, why? From public relations to service lines, identify any and everything that impact marketing and business development. Remember the four P’s of marketing: product, place, promotion, and price. Examine it all.
Then, think about what’s changed externally. Major events in the economy and environment can significantly impact your business. Whether it is a change in a new governmental or regulatory issue or one to the political climate, businesses must be aware of external impacts.
Just as you examined your firm internally, think about your clients. Have they gone through any recent changes that will affect their priorities or strategy? Any change in leadership or key personnel that may effect how you communicate? Looking at what's changed for your clients helps identify new opportunities that may exist for you both. Then, consider prospects. Has anything changed within your prospect’s organizations that present new opportunities for your firm? Keep track of lead generation, and compare conversion rate to previous years. Keep moving forward.
Conducting a review of the past six months is not enough. Use this information to propel your firm forward. Realign goals where necessary. Where do you want to be by year-end? Think about what needs happen to achieve optimal success. It’s not enough to just visualize success; you must visualize how to achieve and then put that plan into action. Hold a team meeting to discuss goals, strategy, and next steps. Be transparent. Make sure everyone is on the same page. Most importantly, stay focus and committed to ensure you’ll end the year stronger than ever.
Posted on Fri, August 1, 2014
by Christine Hollinden