Financially Responsible Marketing

Keep objective for effective planning

Posted by on Jan 12, 2012

January can be a stressful month.  In addition to maintaining the personal commitments to ourselves, it’s often a harrowing time for business owners, team leads and project coordinators.  Many are faced with the challenges of reviewing the past fiscal year and coming to terms with the reality of achieving or missing key targets, then creating new goals and objectives for the upcoming year.

When reviewing the previous year or project, here are some tips to keep in mind:

Be objective

    • Although many of us are passionate about the work we do, it’s imperative to be objective and analytical when reviewing project and/or fiscal results.  Analyze results from a third party perspective and create a list of questions relating to different outcomes which may be at the forefront of your superiors minds.  Review the decision making processes behind these results and identify reasons for the outcome.

Identify success and failure

    • Most projects have elements of both success and failure in the eventual outcome.  Depending on the mindset of your team, it is easy to overlook one set of elements for the other.  Aside from achieving or missing key targets, success and failure can range from team communication, development of new processes, time management, budget allocation, resource or vendor management and technological efficiencies.

Look for solutions

    • Identifying problems, shortfalls and criticisms in a project or annual review is easy, but there are rarely opportunities for learning or improvement in a list of ‘what didn’t go to plan’.  To ensure your team has the best chance for success in the future it’s important to identify issues but also uncover solutions to ensure future endeavors don’t suffer a similar fate.

Involve your team

    • Review the participation, work and results of each team member individually as well as collectively to gain a better understanding of the project as a whole and how your team interacts.  Set aside time with each team member to gain their perspective on the project, review their individual participation and uncover growth opportunities for subsequent endeavors.

By objectively reviewing your previous work, you will be better armed to create strategic solutions for the future.  Contact us to engage a marketing expert in the planning process. Have you established your 2012 goals?