This brand-new year is now a quarter complete. If the close of the first quarter 2017 snuck up on you, rest assured that you are not alone. How is that business New Year’s resolution coming? Are you sticking to that updated business plan that we advised back in December?

Business growth is not just about strategic goal setting, it is about managing performance, and reviewing whether the goals were met, or if the company has veered off track. According to data from Bain & Company, up to three-quarters of large organizations have trouble implementing and achieving their strategic goals.

Setting goals with quarterly milestones in place helps to not only measure goal achievement, but to pivot operations if necessary. Shirley Tan, Director of Product Support at Abaco Small Business from Yahoo has provided the following best practices regarding quarterly goal development and management:

  • Each goal and milestone should be specific and actionable
  • Utilize collaboration tools that aid in planning, scheduling, and project management
  • Focus on two or three goals to avoid setting yourself up for failure

Setting and monitoring organization goals can also be a good way to increase employee engagement.  Research from Deloitte found that businesses who actively evaluate goals on a quarterly basis are nearly four times more likely to cultivate a high-performance culture.

Its time reevaluate, reassess, and refine your goals for 2017. Don’t let another year go past without taking action.