Business Plan: Why your Q1 results should rewrite it
If your business is in high growth mode and looking to scale, having a business plan isn’t optional, it’s mission critical. A well-structured Business Plan gives you a clear roadmap, helping you allocate resources effectively, set realistic targets, and communicate your vision to your team and stakeholders. A Business Plan isn’t a one-and-done document. It needs to evolve as your business does, every quarter if not every month.
That’s where your Q1 review comes in.
We are now a week or so into April and you should have your Q1 financial results v budget available.
This checkpoint is a golden opportunity for you to sense-check your strategy, spot new opportunities, and change direction if needed.
Businesses that skip this review often find themselves blindly executing a plan that no longer fits the reality on the ground.
Why reviewing Q1 is crucial
- Spot performance trends early: Are you ahead, behind, or on target? What’s driving this?
- Validate your assumptions: Are your forecasts and KPIs still realistic based on what’s actually happening?
- Understand customer behaviour: Are there shifts in buying patterns, product preferences, or sales cycles? What threats or opportunities do these provide?
- Control costs and margins: Q1 is a prime time to check if rising costs are impacting your profitability
Key actions to take now:
- Compare revenue vs. targets – Are you on or off track? Identify why and where
- Review profit margins – Pinpoint areas of margin erosion and take corrective action
- Audit marketing ROI – Know which campaigns are generating returns and which aren’t worth the spend
- Assess your team’s capacity – Do you have the right people, skills, and leadership structure to scale?
- Check operational scalability – Can your systems, processes, and suppliers support projected growth?
And once you have undertaken this evaluation as a team…
- Update your Business Plan – Refine your goals, forecasts, and key activities based on fresh insights
A well-reviewed Q1 helps you move from reactive in the weeds activity to strategic intent. It ensures you’re not just busy but productive doing the right things.
Scaling businesses thrive when they combine a strong vision with agile execution. Your Q1 results are your reality check – use them to refocus, reenergise, and realign for the months ahead. It will be Q2 before you know it.
Don’t miss out on this fantastic opportunity to reset your plan and get you and your team super focussed.
How did you fare in Q1?
Are you ready to stop dithering and unlock your full potential? Curious about how I can help? Book a complimentary discovery 30 minute call now and let’s explore your goals together.
