business review

The cadence of business review success

The best business leaders have a pulse on their company at all times. They know what is working to meet their goals — and more importantly, they know what needs to be adjusted.

The business review, whether weekly, quarterly, mid-year, annually or a balance of all the above, allows a leader to maintain this omniscient awareness, as well as allows them to share the current business status and needs with the rest of the company.

A regular cadence of business review means no surprises at period-end. As they saying goes, “you cannot expect what you do not inspect”.

The Cadence of the Business Review

There is no one prescription for the right amount of business reviews. It differs between participants, framework, frequency, market and client situations.

The key is to establish a cadence of business reviews with the right mix of people, at various frequencies to discuss pertinent business information.

A business leader who brings their teams together often to report on wins, losses, opportunities and obstacles is not micromanaging but rather keeping a finger on the pulse, so they can move the business forward intelligently – helping their team overcome obstacles while also holding parties accountable for the outcomes.

Think about it this way: When you are going on a vacation, you have chosen a destination for a particular date — your goal. You can study and route the easiest, least expensive, fastest way to reach your goal, but invariably when you head toward your destination you will encounter unexpected challenges along the way. Heavy rain delays your travel. Road construction slows you down. Traffic congestion bogs down the intended route. You must keep one eye on the road and the other eye on the map to navigate around the obstacles and stay course for your vacation goal.

You need to know where you are to know where are going.

What a Business Review Might Comprise

When determining your cadence of business reviews, you will need to decide:

  • Frequencies
  • Participants
  • Durations
  • Framework of Review

And once you have decided these things, make them part of a regular routine.

A monthly business review may look something like this:

  • Participants: Sales leader, marketing leader
  • Length: 1-2 hours
  • Framework: Review successes from previous month; examine status of opportunities; review coming month’s activities; summarize coming month’s marketing and business development activities; recap monthly goals and tasks

While a quarterly business review may involve:

  • Participants: Sales leader(s), account executives, solution consultant(s), marketing
  • Length: 1-2 days
  • Framework: Review regional performance; discuss success factors to achieve annual performance goals; review individual account executive businesses; examine regional marketing activities for current quarter; summarize regional current quarter plan; conduct sales enablement and solution assessments

If you are interested in an outside eye to help determine the cadence of business review that would best benefit your business and your revenue performance, contact me.