This week is the end of the third quarter and the beginning of the fourth quarter. In acknowledgement of that, I want to use this issue to tell you 5 ways to close out your quarter strong. I hope that these ways will help you have a great third quarter and even better fourth quarter everyone.
Do an As-Is and To-Be Analyses
The as-is and to-be analyses come from business analysis. Since this article is about quarterly performance, these two metrics fit. The as-is means current. The to-be means future.
With the as-is analysis ask yourself where are you right now? Document the good, the bad and the ugly. You have to be honest and transparent about where you are right now in order to move forward.
With the to-be analysis, ask yourself where do you want to be by next quarter.
Examine your current metrics
Next examine your current metrics. A lot of times you do not review your metrics to see if they are relevant. COVID-19 has thrown a wrench in everyone’s operating procedures. No one is immune. Not even you. Review your current metrics to see if they are relevant to document success. If not then you must change them.
Survey Your Industry’s Landscape
A good rule of thumb is to survey your industry’s current landscape every 90 days to see if there are any new tech and/or trends. COVID-19 has accelerated work from home and Zoom meetings. Where other ways is your industry adopting to this pandemic? How are they using technology? Is your current using these new technologies?
Specifically look for new metrics and key performance indicators that are tracking success. If your company is not using them, you should. If your company already is tracking some of these new metrics, then you do not have reinvent the wheel just see what parts are missing and still collecting the data.
Take the New Trend KPI and Incorporate It Into Your Company’s Metrics
Take these new KPIs and incorporate them into your metrics. Remember you cannot manage what do you not measure. You have to have current metrics in order to be effective in the marketplace.
Create a New Quarterly Baseline
Once you have the new KPI metrics, you must create a baseline with new thresholds. In order to finish this quarter strong, you must be able to see how your new normal is working for you. Remember what is new this quarter becomes normal next quarter. As I have recommended