56. 4 Steps for an Effective QBR
What’s Inside
The QBR - What & Why
4 Steps for an Effective QBR
1. The QBR - What & Why
Spring has sprung. Days are getting brighter, birds are singing, and the Cherry Blossoms in DC hit a near-record early peak bloom this year.
As we usher in a season of new life & growth, we would do well to reflect on Q1.
Enter the QBR --> The Quarterly Business Review.
What - A planned, structured review of your business on a quarterly basis.
Why - Businesses, like cars, need regular maintenance that's essential for health, growth, and impact.
Prevent issues: Just as regular oil changes and tire rotations avoid unexpected breakdowns, proactively address issues to save time, stress, and money.
Fine-tune focus: It’s easy to lose sight of your NorthStar. Just as you (re)align wheels, it’s critical to (re)align on goals & priorities.
Adapt to changing conditions: Cars need to perform in various road and weather conditions. Similarly, businesses must adapt to ever-changing conditions like industry trends, client preferences, and technological advancements to stay competitive.
Track progress: What gets measured gets done. Just as you gauge a car’s performance through fuel efficiency and horsepower, it's important to set clear metrics and review them regularly.
Enhance resilience: A well-maintained car weathers bumps in the road. Regularly reviewing your strategy helps you navigate market fluctuations, downturns, and turbulent times. Agility and flexibility are key.
Whether you're a solopreneur or leading a team, make time for QBRs.
2. 4 Steps for an Effective QBR
Your NorthStar motivates you to get started but consistent effort towards this vision each day is the key to lasting change.
QBRs are one habit your business can adopt to keep your vision in sight.
Developing habits, or rhythms, in your business is one way to ingrain the practice of small steps to achieve big goals. Research shows habits are key.
Schedule – Put QBRs on the your calendar at the beginning of the year to review the prior quarter - think April, July, October, and December (or early Jan). Block at least 90 minutes.
Structure – Determine the QBR agenda beforehand, keep it consistent, and develop templates for easier updates. Maybe revenue, team satisfaction, client feedback, and technology upgrades will be the topics du jour this year.
Support – Gather, cleanse, and synthesize data needed to support decisions before the meeting. This may be you, or someone from your team, blocking an hour the week before the QBR to ensure data are ready for show time.
Celebrate – Make time to celebrate small wins. Even if you didn't hit every goal, recognize the progress you did achieve. Instead of an 'on to the next thing' mindset, cultivate fun. Research shows that it cements lessons learned and strengthens team unity.
Schedule a Strategy Power Hour today for help with your QBR.
3. Ways to Work Together This Year
Strategy Power Hour: 60-min virtual session to tackle a specific challenge your business is facing. (Schedule)
1:1 Private Strategic Advisor: Develop long-term vision & near-term priorities and goals. Meet 2x/month during 1-hr virtual sessions. (Learn More)
VIP Strategy Session for Growth: Virtual half-day session to leverage your expertise for growth. Develop North Star with your go-to market plan. (Learn More)
Exploring Entrepreneurship: 15-min virtual call to explore if entrepreneurship is the right path for you. (Schedule)
As always, thanks for reading.
To your strategic success,
Susan
Find something helpful here? Join a community of leaders & entrepreneurs and subscribe to my free weekly newsletter Strategy Made Simple.
