Master Quarterly Planning: 6 Steps for Success

Do you have big plans for your business?

Quarterly planning meetings are essential for strategic execution and setting priorities. Mastering these sessions can significantly accelerate your growth.

Try these 6 steps in your next planning meeting to help get your plan back on track:

Step 1: Dream Big - 10 Years Big, In Fact

In working with teams large and small, we often see that they don’t dream big enough. Set a long-term goal that is 10+ years away. Jim Collins coined this as a Big Hairy Audacious Goal (BHAG).

What is your 10+ year goal?

Write it down. If you don’t, you’ll never challenge or achieve it.

Step 2: 3HAG

If you know where you want to be in 10+ years, where do you need to be in 3 years to make that goal a reality? Answer these questions:

• What will your top-line gross revenue be in three years?
• How much cash do you want in the bank in three years?
• What is your 3-Year Highly Achievable Goal (3HAG)? Describe what your business will look like if you achieve these numbers.
• What are the 3-5 key capabilities you need to have in place to achieve these goals? These are tactical BIG capabilities that you and your team need to be in place in order to achieve the above.
• What do you want to be known for in three years? There is no right or wrong answer here – just good thoughts that will help guide who you want to grow the business into.

Step 3: 1HAG

This is your 1-Year Highly Achievable Goal. If you know your 10+ year goal and your 3HAG, what is your 1-Year Highly Achievable Goal? Articulate it in a sentence:

• What is your forecasted top-line gross revenue, expenses, profit, and cash for the next year?
• What are the number of “widgets” you need to move through your business to achieve these numbers?
• What are the top 3-5 corporate priorities you need to focus on? Who owns these priorities?

Step 4: Quarterly Corporate Priorities

What does your company need to deliver in the next 90 days to stay on track for your 1HAG, 3HAG, and BHAG?

• What is your forecasted top-line gross revenue, expenses, profit, and cash for the next quarter?
• What are the number of “widgets” you need to move through your business to achieve these numbers?
• What are the top 3-5 corporate priorities for the next quarter? Who owns these priorities?

Step 5: Quarterly Individual Priorities

What do you need to deliver in the next 90 days to ensure the company achieves its quarterly goals?

• Each leader creates their priorities aligned to the corporate quarterly goals.
• Each leader shares with the other leaders their goals and how they aligned.
• Each leader meets with their team to share priorities and have their team create their priorities and measures for their roles until is have cascaded out to the whole company.

Step 6: Evolve the Plan

As we progress through the year, it’s common to feel like we’re already straying from our initial plans. Instead of changing what you wrote down at the start, create a “rolling” plan that adapts to market changes and keeps your team on track.

This might seem like a lot of work or even a bit overwhelming, but it’s one of the best ways to keep your plan alive, your team motivated, and your goals within reach. Don’t wait! Dive in now, and you’ll feel much better for having done so!

By following these steps, you can ensure your business is on track to achieve its goals. Let’s make this year your most successful yet!