Adjusting Your Business Plans for the 2nd Quarter
Strengthening Your Latino Business Plans for the 2nd Quarter
This is an important time for your business. It’s already the middle of March and the second quarter of the business year is fast approaching. The first quarter of the year tends to set the pace for the rest of the year and as the second quarter arrives, it’s crucial to take some time to review and make adjustments so that you can keep your business on track.
Be intentional
It’s crucial for the success of the year that we are intentional regarding our time management and our goals. By the second quarter, there should be no random goals; there should already be a strategy for the year in place and this should be a time to review and reassess, so we start the second quarter with intentional and focused ways to keep the businesses growing and our projects all succeeding.
Here are some ways you can hit the ground running in Q2:
Get clear on what’s working and adjust what is not
You should have a clear quarterly strategy to achieve any objectives that you have set to align you with the overall corporate annual goals. Take this time to review your current business plan, your progress, your calendar, your goals… As you review these, make sure that your plans are still relevant, that your milestones make sense, and course correct based on you or your clients additional needs.
Look at what has been accomplished, what has changed (and why), and check your progress on milestones of larger goals that you have defined.
Hispanic business owners should review whether or not you have accomplished the goals set up for the year and keep in mind that you should be willing and open to adjustments as the year progresses.
Be flexible
I think Covid taught us that change is inevitable and often unpredictable.
Take time to forecast anything that might change for you or your business as the year unfolds. Make sure that you remain flexible and open to explore changing your approach when things are not working. It’s not about scrapping your business plan, but often pivots must be made to remain on course. It’s crucial to not become attached to how we planned the year to start because we shouldn’t continue forward if these plans are no longer leading to the desired outcome. Figure out the best way to continue serving your clients and getting closer to your goals. Make a note of where you are needed most, where your time is most efficiently used and what actions can bring about the best results.
Being flexible allows you a space to better follow your intuition and remain attuned to the positive direction of your business and your life.
Continue working on developing new business
When we get too caught up on the day-to-day list of things to accomplish, we may neglect to follow up with business/clients that we have in the pipeline. When you work on a project basis, it is important to have something coming up as you get to the end of a project to continue bringing in cash flow throughout the year.
All Hispanic business owners should keep a list of potential projects/customers and take time to look it over at least once a week so you can have greater visibility of where there may be opportunities for new projects.
When marketing, always keep in mind that if you start promoting your services today, it may take up to 3 months to begin to gain results from the campaign.
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