Q2 isn’t over yet, but that doesn’t mean you shouldn’t be looking at the road ahead. What should you be doing now to start your Q3 planning? What steps can you take to ensure that you have a great third quarter?
Let’s look at three different steps you can take now to bolster your third quarter success.
You can’t make plans without setting goals. Whether it’s one big goal you’d like to have accomplished by the end of the quarter, or a series of smaller ones, a concrete focus is a necessity for any planning you do.
What should your goals be?
That depends on you and your situation. No one knows your store like you!
She Takes on the World puts it this way: “I always suggest that whatever goal you set should be attainable, but also something that feels exciting for you to hit. For example, maybe you want to make a certain amount in profit this quarter, or land features on 5 of your dream media outlets, or finally launch a new free offering for your list.”
One of the best ways to set your goals and succeed in the next quarter is to review your previous successes and failures.
How can you no where you’re going if you don’t know where you’ve been? Take stock of previous goals you’ve set, what worked, and what didn’t.
Entrepreneur says, “It’s crucial to understand what worked in the last quarter and what didn’t. What goals were achieved? How? Which ones should carry over into the next quarter? How will the strategy have to be adjusted?”
Don’t be afraid to own up to past failures, either.
This is a great time to examine how things sold. If you incorporated new routines or techniques, how did they work out? Or, if the same ol’, same ol’ isn’t working out, then you could try and…
Don’t be afraid to change things up!
Ask yourself: do I need to things differently, or do different things?
According to Medium, there’s a big difference, and, “This is a subtle but important distinction…and if you have any chance of closing your execution gaps and making this your best year ever, you MUST ask yourself… [this question].”
Take this time, especially before Q4, to take a look at the systems and procedures you have in place. Is your scheduling working? Are your training materials old fashioned? Are there new ways to do inventory that can save time and energy?
These are only a handful of the things you can do to prepare for the continued success of your business.
For more retail tips and tricks, visit the Petra Blog.