We’re close to the end of the quarter, and no doubt the activity level in your business is picking up as you’re trying to close what business can be closed, and getting ready for a strong Q2.
To help you get the most out of the first three months of this year and really set yourself up for success in the second quarter, ask yourself these 4 questions.
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As an owner of a small business, you need to be spending a fair portion of your time not selling customers, but talking with them, learning more about their issues, how they’re solving their problems, how well you are serving them, what they like and don’t like, and how you can serve them better. Go back and reflect on what you learned from the customers you talked to in that “open air” environment.
Question 2: For the business I won, why did I win it? And for the business I lost, why did I lose it?
This win/loss analysis is a critical part of determining how to improve the way you go to market. You might learn that who you think is your ideal customer really isn’t at the end of the day. You might discover that you are working way too hard to try and win a particular type of business, spending way too much time and money and ultimately never winning.
Whereas in some cases, there’s business that you win almost without effort. Learn from that. Think through both of those situations, and determine out what that market information is telling you.
Is the market telling you something that you haven’t thought of before? What conclusions could you draw, and what changes (if any) should be made to the plan?
Question 4: Are there things that you should stop doing or things that you should start doing based on what you learned from the past three months?
The important point here is: not everything you learn necessitates a change to your plan, but the end of a quarter is a great opportunity to take stock and think about what you’ve learned. If any adjustments need to be made, what should they be?
Ask yourself these four questions as you close out this first quarter to make sure that you set yourself up for a strong Q2 and the best possible success in the next three months.
Check out our blog on How to Really Please Your Growth Plan.