How to Create a Q1, Q2, Q3, Q4 Plan

Editor's note: When it comes to quarterly goal setting and planning, there's something else you need to keep in mind: data collection. It's not just important—it's crucial for your quarterly financial reporting. Remember what I said in my earlier blog, "6 Monthly Reports Every Entrepreneur's Business Should Monitor"? Well, that's your guidebook right there. So get those reports in order, analyze that data like your business depends on it (spoiler: it does), and use those insights to steer your ship toward success. Trust me, when it comes to quarterly reporting, knowledge is power.

A quarter planning system splits up the year into four three-month periods on a businesses’ financial calendar. This makes it easy for a company to plan out its strategies and set quarterly goals for the year.

Q1 starts off the year consisting of January, February, and March. In these months it is advised to set goals and try new things. If there is room in the budget to try something new, then take the time to brainstorm it with your team. It is also a time to take into consideration what worked in the previous year and what did not.

Q2 encapsulates the months of April, May, and June. This is when your plans from the previous year begin to take shape. These spring months prompt people to begin being outside and traveling. Businesses need to buckle down during these months and solidify their plans for the rest of the year.

Next is Q3, which happens during July, August, and September. This is the peak of summer which leads into back-to-school season. Key factors would be the height and wrap-up of travel and wedding season, as well as the return to routine surrounding back-to-school. This is a great time to spend money on outdoor events to grow your business. Also, a common occurrence during this season is employees using PTO which is something that should be taken into consideration.

Finally, Q4 wraps up the year with the months of October, November, and December. This quarter consists of a large amount of consumer spending because it is the holiday season. It is a good time to use the left-over money your business has in the budget for an irregular project like changing up your website or increasing your holiday marketing efforts.

Source: How to Create a Q1, Q2, Q3, Q4 Plan

Hey women entrepreneurs lets' meetup! 

https://www.meetup.com/womenentrepreneurbossbabes/ 

Facebook https://www.facebook.com/C2YourHealthWomensInitiative

LinkedIN https://www.linkedin.com/in/cindycohenrn/

Instagram https://www.instagram.com/cindycohenrn/

#womenmoveforward #C2YHWI #womenmentoringworks #womenownedbusiness