Are you ready to optimize your business’s performance with a finely tuned operating cadence?
Today, we’ll explore the key components of a successful operating cadence for small to medium-sized businesses. From strategic planning to weekly meetings, we’ll guide you through the process of achieving better results in less time and with less stress for you and your leadership team.
Annual Business Planning:
Many businesses struggle with lengthy annual budget planning cycles that can last for months. To avoid this, create a tight timeline of 4 to 6 weeks to complete your business planning process. Define clear deliverables for each week and assign accountability to ensure progress. Treat the planning process like a project, with a focus on key strategies and assumptions about growth and core metrics.
Quarterly Reviews:
Quarterly reviews are crucial for tracking progress and adjusting strategies. These reviews should be in-depth and ideally last a full day or at least four hours. Start with a corporate review of key performance indicators (KPIs) to assess your progress against the annual plan. Then, set corporate priorities or “rocks” for the quarter to keep the team focused on the most important goals.
Monthly Business Reviews:
Monthly meetings should focus on accountability and learning. The monthly business reviews are not a problem-solving meeting. Each member of the senior team should report on their department’s KPIs, highlighting achievements and action plans. This bottom-up reporting approach ensures that everyone is clear on their accountabilities and has full ownership for performance. I recommend a 1-pager template with the following: 1 Lagging indicator, 2 leading indicators, highlights, and action plans. Email me at rheyland@gmail.com if you want a template for these powerful monthly meetings.
Weekly Check-Ins:
Please don’t just run your weekly meeting in an “issue of the day” format. Be strategic and focus on advancing your quarterly priorities and the subtasks to complete them. Weekly meetings should be concise and focused on progress towards the quarterly priorities or “rocks.” Use a template to track progress on each rock and assign accountability for next steps. These meetings should be one hour or less to keep the team focused and productive.
Key Tips for Success:
- Assign clear roles for each meeting, including a chair, action taker, and timekeeper.
- Stay disciplined and focused on the agenda to avoid wasting time.
- Use templates and clear reporting structures to streamline the process and ensure everyone is on the same page.
By implementing this operating cadence, you can drive better results for your business while reducing stress and improving efficiency. Start by tightening your business planning process, then move on to quarterly, monthly, and weekly meetings to keep your team aligned and focused on achieving your goals.
Link to Podcast HERE.