Reality Check: How Was Your 1st Quarter Business Planning?

By Marga Dela Cruz

Quickly, we will be watching the first quarter of 2014 fading fast into becoming “yesterday.” As you soon bid a quick farewell to the 1st 3 months of the year, it is good to have a reality check: How did your company fair during the 1st quarter? Great if your company stays afloat on top of stiff competition. But what if you are a struggling entrepreneur? Or a serious business leader who really wants to make a change? If you fail from the 1st quarter, here are 3 vital areas you need to focus on:

Strategy

Many who had been in small and medium business owners for quite some time now may think that they no longer need a strategy. Having this frame of mind is like having a free pass to “Doomsville.” Customers’ needs are always changing. Every month, there are new social and economic issues that might impact the business directly or indirectly. A business leader and entrepreneur should always have the tenacity to see things through. He needs to strategize. What are there to change, to stop and to start? Creating a strategy helps business owners to focus on priorities while managing imminent risks.

People

People are the life of the business. Whether it’s about your staff, clients or customers, we cannot stress enough just how important people are. When it comes to your employees, there are important questions that need to be answered: Does your staff knows your business direction? Are they as passionate as you? Do you need to provide additional training? Are they taking advantage of business tools to understand the ins and outs of the business and to promote them? An honest self-assessment is required to ensure that for the 2nd quarter, focusing on people empowerment should be done appropriately.

Processes

This second quarter, make a “wow” entrance when it comes to implementing processes. They should not only be well-documented. Make them happen. Make sure that not even a simple problem can become a distraction. Before it worsen, review your strategy and ask your people for their ideas. Strategy, people and process – if these 3 are not taken care of in 2nd quarter, companies will find it difficult to have a smooth start.

Author’s Bio:

Marga Dela Cruz is a thought leader in business intelligence and data analytics particularly in the field of GIS technology and its application to many organizations. She has an extensive experience studying and writing about mapping technology and geocoding services. Currently, she is a data analysis and visualization consultant and content creator of Mapline, an online mapping site that develops tools to transform data analysis into an extensive visual experience.You can send her an email at marga@mapline.com. To learn more about mapping technology and its ability to help organizations outpace competition, visit http://www.mapline.com.