• Home
  • About Us
  • Services
    • Planning Services >
      • Strategic Planning Sessions
      • Workshop Facilitation
      • Brand Positioning Advice
      • Strategic Marketing Plans
      • Re-Branding
    • Implementation Services >
      • Websites
      • Capability Statements
      • Tender Preparation
      • Graphic Design
      • Signage
      • Presentation Preparation
      • Mentoring
      • Staff Training
      • Visual Identities
      • Advertising
      • Brand Re-Positioning
      • Commercial Photography
      • Video Production
      • Printing
      • Marketing Management
  • Working With Us
  • Case Studies
  • Blog
  • Contact Us
  • Tel 07 3135 7454
MARKETING AGENCY BRISBANE | GREY AND GREY - BRAND POSITIONING + STRATEGIC MARKETING
  • Home
  • About Us
  • Services
    • Planning Services >
      • Strategic Planning Sessions
      • Workshop Facilitation
      • Brand Positioning Advice
      • Strategic Marketing Plans
      • Re-Branding
    • Implementation Services >
      • Websites
      • Capability Statements
      • Tender Preparation
      • Graphic Design
      • Signage
      • Presentation Preparation
      • Mentoring
      • Staff Training
      • Visual Identities
      • Advertising
      • Brand Re-Positioning
      • Commercial Photography
      • Video Production
      • Printing
      • Marketing Management
  • Working With Us
  • Case Studies
  • Blog
  • Contact Us
  • Tel 07 3135 7454
Tel 07 3135 7454

8 down, 4 to go.

28/2/2017

businessman writing on work window grey and grey brisbane townsville
We are literally two thirds of the way through the financial year! Can you believe it? March is a great month to take a step back, reflect on performance and make any adjustments required to ensure you smash through your end of year goals.
Every business owner I have worked with has a slightly different scorecard that they use to monitor business performance. Whether you are using a manual system, software or a highly developed hybrid to track and analyse your inputs and outputs, the principles remain the same. You can't control the outcome, but you can control the process. If you take time to check how you're performing, you can give your business a tune up before you hit the finish line at June 30.

By utilising March as your month of re-alignment, you can reap the benefits of:
  • Refocusing
  • Getting back to the activities that actually matter
  • Get proactive (not reactive)
  • Trim costs if required
  • Adjust your sales process (if required)
  • Adjust your offering (if required)
  • Delegate key tasks if there is someone better placed

The final point is what I've love to explore further. I don't want you (or me) wasting time working on the wrong things. Years ago, a dentist client of mine said to me "Roxanne, I make more money with my hands in people's mouths. The most efficient business practice I can adopt is to get out of the way and be a dentist". He has used his own advice year after year, surviving and thriving where appropriate. I often tell other clients this story. He was brave enough to stop being the "manager" and step into the role of technician. I really admire his words of wisdom. Are you working in the most profitable role you can? For every business, this role is different.

When studying business theory, of course it makes sense to allocate the right tasks to the right people. In theory, this is easy. In real life I find this can be easier said than done. In fact, I find real life sometimes to be quite removed from text books!

Here are my top tips for reflection and re-alignment in March:

1. Reflect on year to date financial performance.
Are you on track? What does this 8 months look like compared to the same 8 months in the previous year? This isn't rocket science, but given we are not at end of quarter or end of year, it can be overlooked. Have a good look at the trends. If you need to make adjustments, do so. We still have 4 months to go this fiscal year and that's plenty of time for adjustments to create impact.

2. Reflect on financial performance of the next period (March - June) for the last 3 financial years.
What have you got ahead of you? Some industries (retail for example) are affected by Easter. The timing of Easter needs to be considered and factored in. Don't let a late Easter surprise you. Some industries are affected by end of financial year. Somehow the run into June 30 gets people spending (professional services can experience this). Take some time to reflect and plan for what's ahead.

3. Are you ready for the success?
If you are using this period to make a marketing or sales push and create some noise, have you set yourself up for success? In retail, this might be as simple as another point of sale system. For an online business, it may be extended live chat time and for an office based business, it might mean adjustments to reception staffing levels. So often I have seen a business invest in making a push and then not 100% ready for the success. Plan for it and go for it!

4. Refocus your marketing strategy.
Take a look at how your marketing activity is dovetailing into your sales activity. Do you need to tidy things up? A key element here maybe your content marketing. Are you blogs working with your social media posts and your google ad words working with your Facebook boost? If you need to refocus and re-align, get to it.

5. Are you drumming up the right business?
When reflecting on your marketing and financial performance, get your marketing manager and financial controller in the room together. Or if you own a smaller business and wear both of these hats, get into some role playing. Don't just aim for more business, aim for profitable business. The product (or service) lines you analysed in July 2016 might not be your winners anymore. Take a good look. Perhaps another product line is driving your net profits harder. If you need to adjust your activity to promote that line more, then do so. 

6. Do you need to trim costs?
Sometimes the market just isn't reacting how we want it to! If you need to trim back costs, make sure you are trimming them from the right areas. As a marketer, I firmly believe you can't sell a secret, so of course I don't want the marketing budget to be the first area cut. However, sometimes you just have to put your big girl pants on (or big boy pants) and make some tough decisions. If it's big costs to be cut, sometimes getting an outsider's opinion on where you will feel it the least can help. Better to ask for help now and finish is a good position at June 30, than simply cross your fingers and hope for the best.

7. Zig. Or zag. Whatever the others aren't doing.
You may have found a great niche in July 2016 and spent a great deal of time telling the world about how you're different from your competition. Somehow your competitors seem to be not getting the message and are copying your lead. (It's a compliment - it just doesn't feel like it). March is the perfect month to zig if they are zagging. Throw in something new, mix it up a bit and ensure you finish on a high note for financial year 2017.

I find reflection needs a different pair of glasses. You want to consider things in a different manner than the everyday. I invite you to get up, grab a cuppa and go outside. Seriously, take your computer out to the garden, or down the beach. Get your body into a different space and it's easier to get your mind into a different space too.

Good luck! I hope this next 4 months are just wonderful for you.

Comments are closed.

    Archives.

    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    April 2018
    March 2018
    February 2018
    December 2017
    November 2017
    October 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    April 2016
    March 2016
    February 2016
    January 2016
    May 2015
    April 2015
    February 2015
    October 2014

    Tags.

    All
    Advice
    Announcements
    Book Review
    Branding
    Brand Positioning
    Business
    Business Structure
    Case Study
    Celebration
    Client
    Coaching
    Content Marketing
    Customer
    Development
    Digital
    Events
    Free Gifts
    Funding
    Government
    Grants
    Graphic Design
    Guest Speaker
    Hiring
    Humour
    Industry
    Innovation
    Leadership
    Management
    Marketing
    Marketing Plan
    Meet The Team
    Metrics
    Not For Profit Marketing
    Podcast
    Print
    Pro Bono
    Sales
    Service
    Signage
    Small Business
    Social Media
    Speaker
    Strategic Marketing
    Strategic Planning
    Survey
    Tenders
    Thank You
    Video
    Vision
    Website
    Work In Progress

Picture
Say g'day 07 3135 7454
hello@greyandgrey.com.au
Brisbane Office
269 Earnshaw Road Northgate Qld 4013
PO Box 288 Kedron Qld 4031
Townsville Office
45 Ingham Road Townsville Qld 4810
​PO Box 6237 Townsville Qld 4810
©Grey and Grey. All rights reserved.
​ABN 76 315 894 917

We acknowledge the Turrbal, Chepara-Yugarapul, Wulgurukaba and Bindal people; ​the traditional custodians of country where we operate our business. ​​We pay our respects to their elders. ​​​​
  • Home
  • About Us
  • Services
    • Planning Services >
      • Strategic Planning Sessions
      • Workshop Facilitation
      • Brand Positioning Advice
      • Strategic Marketing Plans
      • Re-Branding
    • Implementation Services >
      • Websites
      • Capability Statements
      • Tender Preparation
      • Graphic Design
      • Signage
      • Presentation Preparation
      • Mentoring
      • Staff Training
      • Visual Identities
      • Advertising
      • Brand Re-Positioning
      • Commercial Photography
      • Video Production
      • Printing
      • Marketing Management
  • Working With Us
  • Case Studies
  • Blog
  • Contact Us
  • Tel 07 3135 7454