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Med Spa CEO
The Proven Quarterly Planning Strategy To Create Clarity and Drive Revenue In Your Next 90 Days
00:27:50
If quarterly planning sounds boring, you’ve been doing it WRONG. In this episode, I give a sneak peek into what I teach in The Med Spa Advantage for how to have your most profitable next 90 days. I break down how to do a thinking audit, how to...
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- [00:00]
Heather Turveen
This is how we can make sure that your quarters, every single quarter can be incredibly successful. Because you are strategically making sure that you're quarterly planning to make sure that you are focused on all of the campaigns, initiatives, and effort that is going to help you drive revenue and profits for your business.
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Unknown
Welcome to the Med Spa CEO Podcast, where I teach you how to grow and scale your med spa or esthetic practice so that you can have the.
- [00:35]
Heather Turveen
Income and impact you know you were meant for without overwhelm, stress, or feeling like you have to sacrifice your personal.
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Unknown
Life and happiness to do so. It's totally possible for you and your business. Plus, simpler than you think. Keep listening to find out how.
- [00:55]
Heather Turveen
Well hello my beautiful friend. Welcome back to another episode of the podcast. I am super pumped, as I always am. I mean, how many times do I say that at the beginning of these episodes? A lot, because I am every single time. Today we're talking about quarterly planning. I know it doesn't sound super sexy when I say it out loud, but it is a really sexy topic that we're diving into today. And so inside of msa, inside the Med Spa Advantage, the month that precedes an upcoming quarter. So we're in March right now, and we would be quarterly planning for quarter two. And so every month that precedes an upcoming quarter, we roll up our sleeves and we have a quarterly planning workshop. And I really first started quarterly planning in 2015 or 2016. I actually invested in a group program with Todd herman of the 90 day year. So shout out to Todd Herman in the 90 day year. He's also the author of the Alter Ego Effect. And Todd really broke my brain around this idea that we do not need to do annual planning. And what he meant by this wasn't that you don't need to have an annual goal or you don't need to sometimes have things on the calendar outside of 90 days. But that as humans, 90 days is really an appropriate amount of time to actually make big moves. And that anything outside of the 90 day window is really too long for our brains to wrap our, our, our hands around. And so if we try to set goals out for longer than 90 days, we actually end up procrastinating and not taking as much action. And then any time period less than 90 days oftentimes is not enough time to do anything meaningful, to not make any, to not make as meaningful of, you know, shifts that you need to make. So I am really big fan of 90 day planning and so I want to kind of give you a little taste of what we do during our quarterly calls inside of msa. Now in MSA I give like a whole spreadsheet for planning as well too that we actually go through because I am so bullish on really getting clarity ahead of time on what the next course shorter it's going to do because clarity breeds confidence and conviction. And I know that the more clear you are on what your initiatives are, on what you are going to go full steam ahead, the more likely you are going to see success.
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Unknown
Okay.
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Heather Turveen
And so we're going to talk a little bit about some of the mindset that you need to have when it comes to your own quarterly planning. And then we're also going to talk about strategically and tactically how to do quarterly planning as well too. Some, some like nuggets of, of, of like high, high level what you can do and implement in your own businesses. The first part of quarterly planning is always taking an assessment of the previous quarter and what worked, what didn't work and what you want to do differently. But also taking an assessment of like I call it a thinking audit. And inside our quarterly planning doc, yes, there's you know, calendars and other things on actually planning out the upcoming quarter, if you will. But we also want to take a look at what have we been thinking over the last quarter, the previous quarter that has really served us and produced really incredible results. And then also what is some of the thinking that has actually limited our ability to effectively grow the business in the previous quarter. So this is when you want to take stock of like have I been overthinking? Have I not taken a lot of action on the things that I said that I wanted to take action on in the previous quarter. And it just keeps, you know, being moved to the next pile up zone of all the upcoming quarters as well too. And so I want to dive into this and then some thinking like thought errors that I see a lot of my clients have that we try to clean up when we do our quarterly planning. So first things first is like really, really, really taking a look at whatever results that you have created in the previous quarter. Previous year and owning the results, whether they're good or bad. And good or bad is totally subjective by the way. You can actually interpret the results however you want. But whether the, the results you expected or were hoping for or not, you want to own them. And I know you've heard me say this before, but this is like really when I see it show up for people is they will start interpreting whatever results from the previous quarter and they'll start telling themselves stories about it that is outside of their control. So an example is like, oh, well, the economy is bad, or this is a slow time of year, and that's fine. But, you know, the slow time of year because, like, you know, I'm in Scottsdale and in the summer months, the practices and the med spas that are here locally, like, like, literally certain parts of town lose. We lose like 50% of our population. And it does affect business. But since we know that every year, how are we going to actually adapt what we're doing to account for that? Okay, that's owning the results and not just being at the affect of the results. And also, like, the whole economy thing. I'm not going to get on a side tangent soapbox, okay? My podcast team is probably looking at me and, like, they have watched me go on lots of side tangent soapboxes, but we get to decide how we want to think about if we want to focus on the economy. We can, but, like, it's not going to serve us to think that we're at the affect of what's going on in the economy.
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Unknown
Okay?
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Heather Turveen
So owning the results, okay? And then really reframing and like, actually noticing where you have made excuses for the results, whether it's like the economy example or whatever other example that you're using, like, oh, my team members aren't pulling their weight. Right? That is not you owning the results, okay? Now, if you have team members that are not living up to the expectations that you've clearly set, set and coached them through, then, yeah, we need to have a conversation about those team members and with those team members. But ultimately you own the results of those team members not actually producing at the level that you want them to produce.
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Unknown
Okay?
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Heather Turveen
So I think it's incredibly important every single quarter to be honest with yourself and aware of where you are abdicating what you are able to create to other people, to other stories, to other outside factors that don't involve you, okay? Because it doesn't serve us to think, oh, my gosh, the economy's bad. And then it's just like our. I guess our revenue's not going to be as good. No, no, no, no. We do not want to think that way. Also, this was a shift I've talked about before, but when I started working with Brooke Castillo at the Life Coach School, she calls this 25 fails. And she does quarterly planning, too. I think she has worked with Todd at some point as well, too. And so she likes everybody to, you know, plan for 25 fails a quarter, okay? And that, like, makes people uncomfortable to think about. But the reason why she calls it 25 fails is so many of you are, are avoiding making mistakes that you end up avoiding failure, if you will, however you want to actually articulate it that you end up in a lot of inaction. And so she was always like, just plan for the failures. I want you to plan 25 fails, okay? And this exercise may be good for you. If you found that you, like, when you look at the previous quarter and you say to yourself, like, I really did not take action on a lot of the things that I wanted to take action on, you might need to reframe your brain on it and say, like, okay, I'm planning 25 bails, okay? And the shift in that isn't like, oh, like. And I don't mean fails. What she means by this is not like, oh, I think I'm a failure. You know, sad face. What she means by this is like, I need to take action on things that I don't know what the result is going to be yet. And so we, by our very nature as humans, your nervous system will try to prevent you from taking action on things that you don't know the outcome of. Now, the problem with this is that if you are trying to create new outcomes for yourself in the upcoming quarter, it's going to be next to impossible because you're going to have to take action on things that you've never done before and you aren't sure what the outcomes are going to be. And so the idea behind it is that you actually want to take 25 actions in a quarter, let's say that are going to be focused on things that you don't know the outcome of. And the more rapidly you actually take action on those things, the more you will get feedback that may be perceived as a failure, but either way you are getting more results, okay? And for her, she would say, like, results in the result line, good or bad, or however you perceive it, are better than stagnation and inaction. And so for many of you, an upcoming quarter is an outstanding time to reflect on where you were stuck in inaction, doing that thinking audit and actually noticing like, okay, so why was I staying stagnant? Why did I not take action on the things that I wanted to take action on, okay? Because ultimately there is fight, flight or freeze, okay? So you've had things that have recently happened and whatever they may be, and so that you haven't liked the results of, okay? And it's Like, I'll use the example of Facebook ads because this has, like, been a hot topic with us lately. And, you know, I have a client who feels like they hired a company and that they wasted money on these Facebook ads. And I can tell even by them sharing the story with me, that this thinking isn't serving them.
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Unknown
Okay?
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Heather Turveen
I literally don't know anybody, any successful entrepreneur who has ran paid ads, which almost every successful entrepreneur I know of run, has run paid meta ads in some facsimile, and many of them very aggressively. I don't know anybody who doesn't feel like they've lost tens of thousands of lost tens of thousands of dollars in the process of figuring out Facebook ads. And by figuring it out, I mean, figuring out what company you're going to use, figuring out your strategy, figuring out what your offering is going to be, figuring out how you're going to get target the right people and figure out how your team is going to sell the people that come in and all those things, right? That's figuring out your Facebook ads.
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Unknown
Okay?
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Heather Turveen
But what I would say is, is that it's because that result, like, he feels like he's telling himself the story that he. That he and she, like, it's a husband, wife, team, that they have lost the money on it. It's put them into most likely freeze mode.
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Unknown
Right.
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Heather Turveen
Or flight mode on Facebook ads.
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Unknown
Right?
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Heather Turveen
And I've seen this as just one example. I could give like a dozen, two dozen different examples of where I've watched this and observed this in other business owners, okay? And so it's like, we want to be in fight mode even when we have those 25 fails or get a result that we don't want. Check yourself. Are you in freeze or flight on it? Are you in fight?
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Unknown
Right?
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Heather Turveen
So notice where you have taken out action, you haven't gotten the outcomes that you wanted, and that you, when you're reflecting, you have been put into flight or freeze mode.
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Unknown
Okay?
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Heather Turveen
And this is like, you know, an ongoing theme when we think about our most, you know, I think about myself and my most successful, you know, initiatives or things that I've done. It has been when I have initially not gotten an outcome that I loved, and I kept fighting to figure it out. And so I want to encourage you that you have maybe gotten results that you don't like in the previous quarter and that you're going to have to have a fighting mentality in order to really, really get the outcomes that you want. Because ultimately, any new initiative, any new thing that you do you are developing skills around. And so as a business owner, I never want you to get hard on yourself. Like, you know, money lost with investing with an ad company is money well spent on learning who you're going to look for in your next ad company. You actually can't learn that lesson by an on like, you know, some sort of YouTube video or outside of actually taking action, hiring somebody and then figuring out, okay, who am I going to look for for next when I do that hiring. That cannot be. You have to go through experiences as you are developing your skills in marketing and selling and operations and all the things you need to do as a business owner. And so the folks that are producing more than you, that have grown more than you, they really, truly just have more stacked up failures and experiences than you. And so in quarter two planning, I want you guys to really, really be honest with yourself. Like, what do you want to double down on? What do you want to to fail at in the upcoming quarter that is going to give you incredible information and is going to build you into the type of leader that is going to be able to take your business to new heights. We're going to talk about strategy like, of like tactically, what I recommend doing for actually like high level, some insights into actually the strategy behind quarterly planning, like the what to do. But before I do that, there's one other thing I wanted to share with you about making decisions and having wisdom and discernment as you go out to court quarterly plan. And so, you know, it's interesting, as I've shared many times on this podcast, I have three daughters that are competitive athletes. And my husband was a Division 1 athlete and he played professionally, he played baseball professionally, played through AAA with the Braves and the Mariners. And so one of my daughters was experiencing, she's actually a catcher. My husband was a catcher too. And she's a catcher and an outfielder. And so she has had this experience this year. She actually made this sort of like competitive elite team for her age group. And this organization that the team is, this club that this team is with, has a lot of clinics and instruction and the coaches give a lot of feedback. And what we've discovered this year is that she has had so many, many different folks, you know, directing her on her different catching skills, how to throw, how to pop, like, you know, for batting, like so many different folks in her ears, like telling her too many different ways of doing things. And my husband was saying, you know, he was talking about how he had learned over the years of like having so many different coaches and so many different types of like, instruction, if you will, in his playing career that he got to about high school when he really realized that he couldn't listen to everybody, okay. And that he couldn't actually effectively implement. So like, you know, multiple strategies and tactics at once.
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Unknown
Okay?
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Heather Turveen
So as you're deciding what you're going to, the strategies and the tactics on and the channels that you're going to use for marketing and what have you in the upcoming quarter, no matter what the next quarter is for you, I want you to really start to notice where you have maybe abdicated some of your own wisdom and discernment. Because we were talking about how my daughter's like, we were looking at like the beginning of the year before she joined this team to where she is now. And she's actually regressed in some areas and we've realized it now is that she's become confused because she has so many people giving her instruction. And so as you look at to what you're committing to in quarter, the upcoming quarter, I really want you to use your own innate wisdom and actually choose who you're going to listen to. You still 100% need coaches, you need instruction. You need to in any way, like hire experts to help you, but you want to make sure that you haven't. You're not listening to too many folks in any one particular area so that you're not confusing yourself and halfway in to multiple strategies at once. So I know I've shared before that I used to have a social media membership and I used to see this with social media, meaning folks would sign up for our membership and then they'd be working with another social media consultant and then they would have signed up for another social media membership. And all of our strategies and our thought processes and our approaches were different. And so they'd be very confused. And I would tell them like lovingly, like, I'm like, it doesn't even have to be me, right? Pick one. For social media, you don't need like three to four different strategies for it, right? You have to have the discernment to know. And it can be that you might have multiple and that you have the discernment, but in the beginning you probably just need to pick one strategy and go all in on it.
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Unknown
Okay?
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Heather Turveen
So you really have to like, think about that as you're going into quarter two or three or four, whatever upcoming quarter is next. As you're listening to this, like, you know, what strategies are you going to go all in on? Because when you have multiple. What happened with my daughter is that she was having, like, multiple strategies and like, you know, actual, you know, feedback being given to her. And so she wasn't all in on any of them because they were contradicting themselves.
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Unknown
Right.
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Heather Turveen
And so she couldn't possibly effectively actually implement different, you know, different ways of doing the same thing. And it's the same thing with you. I would much rather you simplify and decide, oh, I'm gonna listen to Heather and go all in on Heather's strategy for this, and then so. And so strategy for this, and then to roll up your sleeves and go all in on it, and then have the wisdom and discernment for knowing how to actually apply that to your business specifically. Okay. You gotta know when to actually really trust yourself and to know when what you're hearing from multiple folks. You know, the word decide, like the Latin root of the word decide, means to cut away. And so just know that as you're planning for quarter, the upcoming quarter, that you may have to decide to cut away on some of the things that you have committed to. Okay, so big picture, like how to actually do quarterly planning.
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Unknown
Okay.
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Heather Turveen
So first things first is I would set aside a dedicated time, the month that precedes an upcoming quarter. I would strategically look at the numbers for any initiatives, promotions that you did for the previous quarter.
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Unknown
Okay.
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Heather Turveen
And I really like to ask yourself the question, what worked? What didn't work? What are you going to do differently? Okay, you're going to do that thinking audit, and then we're going to look at the upcoming quarter and actually plan our promotions out. I like to have my clients actually look at their build your menu spreadsheet that they use to actually have all of their offers in one place. And then I like to look at an annual year from a high level and make sure that every single offer that we have has its day in the sun at some point. Now, if you haven't listened to the organic funnels episode that precedes this episode, you will want to, after you're done listening to this episode, make sure to listen to it. Because when we look at the upcoming months, we want to make sure that we're creating our promotions around that organic content that is going to be supported by the organic funnels that we have as well, too. And that will make more sense after you've listened to that episode if you haven't had a chance to do that yet. Okay, now we want to ask ourselves, are we going to have any events? You know, for me, I tell my msa members. I love one event and a quarter or at least two events a year. And I don't like just big, you know, sort of like oh, anniversary event or big annual event. I actually like again to think of events as funnels.
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Unknown
Okay.
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Heather Turveen
So I like events, your in person events to actually be built around a specific topic. So like we talked about creating guides and to create content around particular problems or solutions. So we use the example of like full face rejuvenation or acne or, or whatever it might be. It might be body sculpting or weight loss or hormone replacement therapy.
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Unknown
Right.
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Heather Turveen
I like to create events that are around a specific topic that's going to call in a certain type of human that has the high value problem that's related to what that event topic is.
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Unknown
Okay.
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Heather Turveen
So we're going to plan out any events that we have and then we recommend that you have you track KPIs with all of your team members and so you actually want to plan out for the upcoming quarter. Okay. We track package sales, we track, you know, these things. These are the things that we do in perpetuity for tracking. And we're just going to make note of that for the upcoming quarter. But then there might be some specific things what I mean by this, like specific things that in person that you want. So for example, if you have an event, let's say you're having a get ready for summer event that's going to be all about body sculpting and weight loss.
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Unknown
Okay.
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Heather Turveen
We want to make sure that, yes, we're going to create content and we're making the whole game plan on the content that we run around that event. Then we want to make sure that, you know, for this X, Y, Z month that is upcoming to that event, that every team member is tracking, that they're letting every single person that they see face to face actually know about that upcoming event.
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Unknown
Okay?
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Heather Turveen
So the real goal with quarterly planning is to make sure that you get radical clarity for you, your team members, any other marketing person that is helping you so that ahead of time you aren't feeling like, oh my gosh, it's already the first week of March and I don't have my promotions plan. And then strategically this is how we can make sure that we are back and engineering all of your promotions to the highest value packages, programs and things that you know, you want to double down on and sell.
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Unknown
Okay.
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Heather Turveen
Because this is how we can make sure that your quarters, every single quarter can be incredibly successful because you are strategically making sure that your quarterly planning to make sure that you are focused on all of the campaigns, initiatives and effort that is going to help you drive revenue and profits for your business. Oh my goodness. That, my friend, is what I have for you for quarterly planning this episode. I hope you loved it and I hope you start quarterly planning in your business this year. That's what I have for you this week. I will see you next week.
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Unknown
Hey, if you're enjoying this podcast and you're a boutique results driven med spa owner who's looking to drive more sales profitably each month without hustling yourself into the ground to do so, then you should consider applying to join us inside of the MedSpa Advantage. It's the only program designed to help you grow your revenue and profits while gaining back more time so that you don't feel scattered and drained while running and growing your business each month. To learn more about whether or not you're a fit for joining us, you can head over to heatherturveen.com apply to apply to get on a call with us to learn more. That's heatherturveen.com apply to learn more.