Steal My 4-Step Quarterly Review Process

Quarterly planning can make all the difference in achieving your goals and staying focused in your business. Where most entrepreneurs fall short is setting annual goals without an action plan. Quarterly reviews clarify where you stand on your bigger-picture goals and help you create realistic action plans (think of these as a sprint) to help you easily achieve your long-term goals. In this blog, I will walk you through a simple process to effectively plan your review and plan your quarter.

Step One: Reflect

Reflection involves taking a deep look at the previous quarter, examining your energy levels, time management, and financial performance to gain clarity and improve your strategy moving forward. Grab your journal, lets begin: 

Energy Reflection: 

• How did you feel this quarter? 
• What made you feel this way?
• What did you accomplish this quarter? 
• What contributed to your accomplishments? 
• What contributions to any challenges you faced? 
• How can you do things differently next quarter? 

Time Reflection: 

• Where did you spend most of my time this quarter? 
• Did spending most of my time here move you closer to your goals + vision? 
• What areas could have used more of your undivided attention? 
• Where do I feel I could have spent LESS time? 

Money Reflection: 

• What were your biggest money wins? 
• Where did you hold myself back due to scarcity and uncertainty? 
• What beliefs about money pushed you forward? 
• What beliefs about money do you need to release? 

Step Two: Recalibrate

Now it’s time to decide on the goals you want to bring into the next quarter. Ensure that each goal has a purpose and develop an action plan associated with each one. Many entrepreneurs fail because they set goals without a solid plan – don’t let that be you. Write out each goal you want to achieve and include the specific action items or habits you need to implement to reach those goals. Give intention to everything on your list.

Open up a blank Google Doc, Notion Doc, or where you keep track of your goals and create this simple action plan template: 

Goal/Intention Here

Action Item	Status
Action Item One	Do, Delete, or Delegate
Action Item Two	Do, Delete, or Delegate
Action Item Three	Do, Delete, or Delegate

Add more rows as needed. Create one of these tables for each of your goals. Here are what the statuses should look like: 

• DO: Anything that has to be done by you. You can do a lot as an entrepreneur, but it doesn’t mean you need to do everything. Be very selective with what gets this status. 
• DELETE: Anything that no longer needs attention or is not required to hit your goal. 
• DELEGATE: Anything you can outsource, get support for, or delegate to a team member. 

Step Three: Reconcile 

Now it’s time to reconcile your books and financial records for the quarter. This step involves carefully evaluating your revenue, expenses, and overall financial performance to ensure accuracy and make any necessary adjustments.

• What was your total revenue/income for the quarter? Has your revenue increased or decreased compared to last quarter? 
• How much did I spend this quarter? Have your expenses increased or decreased compared to last quarter? 
• What services/products brought in the most of my revenue? 
• What services/products were the most profitable? 
• How do you feel about the prices you charged for your products/services this quarter? 
• Do you need to make any changes to my products/services or pricing this quarter? 
• What is your taxable Income for this quarter? What do you owe for quarterly taxes? 

If it’s the last quarter of the year, you’ll also want to do the following: 

• Make sure you have updated W9s from all your contractors that you’ll need to send 1099’s to
• Get your bookkeeping up to date. Do not wait until the last minute to do this. It’ll only cause you headaches and potentially cause a bigger tax bill. 
• Max out your IRA or any tax advantage accounts 

If you’re having trouble answering any of these questions, a financial audit might be right for you. A financial audit can uncover your blind spots with pricing, time, and taxes, giving you invaluable clarity on where to focus within your business. More information here.

Step Four: Refine

After reconciling your finances, it’s important to refine your goals, strategies, and overall approach for the next quarter. This step focuses on fine-tuning your plan, setting intentions, and implementing rituals or practices that support your well-being and success.

• How do I want to feel in my business this quarter? 
• What rituals can I implement or continue with to support my well-being this quarter? 
• What support do I need in place this quarter? 
• How am I committing to showing up as the CEO I desire to be? 

Once you have completed your quarterly review, make sure to keep your plan safe and review it regularly. Revisit your goals, action items, and reflections throughout the quarter to stay on track and make any necessary adjustments. Remember, a quarterly review is not a one-time activity but an ongoing process for continuous growth and improvement in your business.