If you’re anything like our clients and internal team, you can’t believe Q3 has already begun! It seems like just yesterday we were preparing our tips for planning out annual goals and success. But alas, here we are halfway through 2022. So let’s jump into how we can assess and learn from Q2 while starting the third quarter right.
In a previous blog, we discussed preparing for 2022, specifically focusing on crafting an annual business plan, creating employee-specific and team goals, and prioritizing communication. Each of these is not only highly applicable to all industries and types of organizations but is also essential for progressing forward in your operations. So how is it going?
Now that Q2 has come to a close, it’s time to reflect on how you and your team have or have not achieved the goals generated by those three strategies. Some goals set for a business are easy to assess, like projected revenue or KPIs- either you achieved them, or you didn’t. But others can be more subjective, like employee happiness or client satisfaction. These take a little longer to dive into because the proper way to determine the success rate is to send surveys or conduct reviews.
Some helpful tips to keep in mind when evaluating your Q2 and when planning Q3 are as follows:
1. Have Your Business Plan Handy
Remember that large document you made earlier this year? That’s your blueprint! All goals should align with and complement this guide. Without it, your organization is headed in an entirely different direction. If you find that your team didn’t live up to previously set expectations, revisit that objective and compare it to the business plan. What went wrong? Make any adjustments necessary and go into the next quarter with new methods for achieving that goal.
2. Adhere to the SMART Method
This is the most famous method for crafting goals, and for a good reason! By using the SMART method, you’ll be able to effectively determine what makes a Specific, Measurable, Achievable, Relevant, and Time-based. If there is anything about the objective that doesn’t meet that criteria, you’ll know exactly what needs adjusting. If you already have been utilizing this method, use it to evaluate your performance!
3. Develop Reporting for Easy Tracking
There’s no better way to get ahead of problems than tracking quantifiable data and communicating them with your team! Recording or automating KPIs and revisiting the progress throughout the weeks and months of a quarter is excellent because it gets you in front of the tangible progress made toward goals. If you notice something lagging, focus on correcting it in time for evaluation!
Goal setting is all about maintenance: a “set it and forget it” mentality won’t benefit you, shareholders, and employees. We know that managing a business is tough, but by following this advice, you’ll notice a big difference in how your organization achieves its goals.