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How to Conduct a Monthly Business Plan Review Meeting

Posted june 21, 2021 by noah parsons.

Most people think that meetings are a waste of time. They’re right.

The fact is, too many meetings are run poorly, have no real objective, and waste employees’ time — which kills productivity.

I absolutely encourage you to be ruthless in your pursuit of fewer and more efficient meetings. There’s tons of advice out there on how to run better meetings and cut down on useless touch bases that waste time and make your organization move slower.

For example, here at Palo Alto Software , we’ve found one meeting that is simply indispensable. It only takes an hour each month, keeps the management team up to speed on everything that’s going on in the company, and helps us plan and manage in a quick and effective way .

This meeting is our monthly plan review meeting. 

What is a plan review meeting?

A monthly review meeting is a time for you and your team to review current progress against your ideal performance. This one-to-two-hour meeting should be spent dissecting parts of your strategy, reviewing financials, and making adjustments based on overall performance. It has been a fixture of our management strategy for years and is simply one of the most effective ways for us to continue to grow the company and adjust our course as necessary.

For us, business planning isn’t just a one-time or annual event. Instead, it’s an ongoing process where we are constantly reviewing and adjusting course as necessary while ensuring that we’re staying on track toward our larger goals .

Why is it important to conduct a monthly plan review?

Every business of any size can benefit from a calculated time to stop, review and revise. When done correctly, this meeting can help you focus on what’s vital for your company, identify what data you need to accurately measure it and how to best present and review these results. Additionally, your monthly plan review process can help your business in the following ways.

Commits your business to learn and act

It can become very easy to let operations and processes become stagnant and standard. Without a regular performance review, any potential problems may remain to fester well beyond when they are first identified. You don’t want to waste company time and resources on things that are ineffective, but it’s difficult to change course without first processing it.

By setting aside this monthly time, it provides the opportunity to commit to learning and adjusting anything and everything. This isn’t based on off-hand information but on solid information and data that helps you identify and evaluate what’s most important for your business. 

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Engages individuals across your entire business

Depending on how you present this meeting, it has the potential to pull in greater insight from across your business. Whether you’re sharing information company-wide or sticking with select leaders from each department, it immediately expands the scope of expertise. 

The more that every leader and employee knows what’s going on with everyone else, the better you can align and produce effective goals . It also provides the opportunity to identify potential solutions or issues from outside your core team’s responsibilities. Maybe your product team sees a potential gap in your marketing messaging. Or someone in HR sees a potential work/life balance misalignment in the sales team. None of this would come to life without a core review meeting like this.

Influences better business conversations

Engaging more people across your business and providing more detailed information typically leads to more fruitful conversations outside the core meeting. Yes, the meeting itself is vital for actively reviewing and adjusting your strategy at the moment. However, this information being top of mind means that potential issues or innovations will be dealt with outside of the planning meeting. This is due to your employees having a clear direction to reference in the day-to-day. They know the strategy and data are up-to-date and that it serves as a north star for their own projects and initiatives.

How to run an effective monthly plan review meeting

We treat planning not as a document, but as a management tool that helps guide decisions and strategy. It’s this mindset that helps our team run these monthly meetings successfully. We have a strategy in place, steps to walk through and key objectives we expect to find.

Here’s a quick overview of how we structure our monthly plan review meetings and what’s worked well for us over the years. 

1. Review your financial statements

We always start with the numbers first . How did we do last month compared to our forecast ? How did we do compared to the same month last year? What does our year-to-date performance look like?

What financial statements to review

Ideally, you’ll have the opportunity to review all relevant monthly financial statements. At a minimum, you should review your Profit and Loss Statement , Balance Sheet, and Cash Flow Statement . These will provide a high-level overview of your financial position and help identify any obvious anomalies. If possible, it’s valuable to look at these all together through a business dashboard , that way you can immediately start making connections.

With that top-level exploration in mind, you can then start looking into your budget, financial forecast scenarios, and any specific elements that may seem relevant. This may include things like your expense categories, accounts receivable/payable payment schedules, etc. 

Look beyond top-line performance

We always spend time drilling into the numbers, beyond the top-line revenue and expenses to better understand what the drivers were behind our performance. Did all product lines perform well? Or did some underperform? Did we spend as planned or were there some areas that we overspent in?

Most importantly, we review our cash position and cash flow . Did we collect money as planned? What does our cash flow forecast look like for the next few months?

There are benefits to looking at financials together

While financial reports can be reviewed outside of a meeting, reviewing them together as a team encourages questions and discussion around our revenue and spending. It also helps you uncover specific issues or opportunities that you may miss on your own. And of course, gives everyone a voice to determine the next steps for the company as well as their specific teams.

Of course, we use LivePlan to review our numbers because it’s much easier than drilling through exported reports from QuickBooks . But if you’re not ready to make that jump, you can always start out with a simple cash flow template in Excel.

2. Reevaluate your milestones

Once we review our financial performance, we review our “ major milestones ”—the big tasks we had hoped to get done in the past month and our plans for the next month.

We discuss how various teams might be working with each other on different projects and talk about the specific milestones that we have planned. Are these still the tactics that we want to work on that will help achieve our goals? Do we need to shift priorities? Is there new learning and information that would have us change our schedule?

By reviewing major initiatives on a monthly basis, we can stay agile and make changes as needed. That’s also why we review them after parsing through our financials, to determine if our current milestones should still be a priority. As we learn more about our customers and our market , we might shift strategies and develop new milestones .

3. Review your long-term goals and strategy

Next, we review our long-term strategic goals. While this doesn’t change too often in our situation as an established company, new startups might shift their strategy frequently as they search for a business model that works.

For those early-stage startups, this step of the meeting may be the most important step and often takes the longest. For more established companies, this part of the meeting might typically only take a few minutes. This is where having a brief and functional business plan can really help speed up the process.

Instead of delving deep into a 40-page business plan document to review our strategy, we review our our one-page business plan (in LivePlan, it’s called the Pitch ). It covers our company identity, the core problem we solve for our customers, our solution, competition , and sales and marketing strategy . It’s all on one page so it’s easy to read, review, and change quickly .

4. Provide time to discuss any company issues

Finally, anyone on the team can bring forward any issues that they want to discuss. This could include new opportunities to consider, prioritization of product features, potential partnerships, or internal HR issues.

Everything is fair game and we try to come up with resolutions and next steps for any issue that’s brought up.

We’ve found that this type of open-ended discussion really helps generate new ideas and brings different perspectives from managers of different teams.

5. Set meeting guidelines

I believe that all companies would benefit from a monthly review of their business. These types of meetings keep everyone on the same page, help share information about progress, and turn planning into a tool that helps teams make informed decisions. 

But in order to run these monthly meetings successfully, you’ll need to do some preliminary work to keep you and your team on track. Here are three tips to successfully establish your monthly business plan review.

Put the meeting on the calendar

It’s important to make it a formal event that’s on the schedule. It can’t be optional and it has to be at a regular time so that everyone always knows when the meeting is.

For us, we started out with the meeting on the 3rd Thursday of every month. As our bookkeeping and accounting processes have become more efficient, we’ve been able to move our meeting to the 2nd Friday of the month.

Follow a repeatable agenda

While different topics will come up for discussion, it’s important that your plan review meeting has a repeatable agenda. Not only does it provide structure, but it gives your team specific action items to review beforehand.

That means making sure that you have your numbers ready for review and that your team has updates on their goals. Try to set time limits for each section if you can, and overestimate the length of the meeting with the full intention of finishing earlier than planned. This part will be a continuous work in progress and you and your team will gradually improve your efficiency with each subsequent meeting.

Be prepared to change the plan

These plan review meetings aren’t just about staying the course and blindly following the plan. Instead, they are about adjusting the plan. Perhaps you’ll discover that you should be investing more in marketing, or that you’re going to be able to expand and hire faster than you originally planned.

The plan review meeting is about making adjustments to your goals and strategies based on what you’ve discovered in the past month.

Use your monthly plan review to redefine how you do meetings

Keep in mind that running your meetings more successfully won’t just happen overnight. It takes time to develop a structure that works best for you and your team. As I outlined in this article, the best place to start your meeting restructure is with your monthly plan review meeting.

It’s a necessary review that can be consistently repeated, refined, and adjusted, which makes it the perfect testing ground for a new system. 

Editors’ Note: This article was originally written in 2018 and updated for 2021.

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How to: Monthly Business Review

A monthly business review is one of the best ways to make sure your strategic plans stay on track. But how do you avoid getting stuck spending too much time preparing and a too much time in a meeting that may or may not be adding value? This post will give you a roadmap to follow.

What is a Monthly Business Review?

A Monthly Business Review (MBR) is a meeting where you come together to review actual performance against your strategic plan. The primary purpose of this meeting is to provide an opportunity to reflect on the previous period and see if you are still on track to achieve the targets and if necessary, implement corrective actions before it is too late.

Monthly Business Reviews are one of the critical rituals of a company that wants to be excellent at execution.

Why is a Monthly Business Review important?

• Focus: A monthly review of the business will ensure you stay focused on the established vital few priorities.
• Ownership: By encouraging individuals to take ownership of the metrics that are part of the MBR and to commit to corrective actions when required, the level of individual ownership and commitment will increase.
• Reflection: A scheduled period of reflection is critical for learning.  A monthly cadence insures you have 12 periods of reflection in a calendar year.

Focus: Improves communication

Engaging people across your business and providing a specific format where individual KEY metrics are reviewed and discussed will reinforce the focus that those metrics represent.  The purpose of any goal or target is to focus the energy and attention of the goal seekers.  The monthly cadence is a good interval to provide this strategic reminder.

Ownership: Engage individuals to take responsibility

A monthly business review has the potential to pull in greater insight from across your business. Whether you’re sharing information company-wide or sticking with select leaders from each department, it immediately expands the scope of expertise.

The more that every leader and employee knows what’s going on with everyone else, the better you can align and produce effective goals. It also provides the opportunity to identify potential solutions or issues from outside your core team’s responsibilities.

Reflection: A scheduled time to learn and react

It’s easy to let operations and processes become stagnant and standard. Without a regular performance review, any potential problems may remain to fester well beyond when they’re first identified. You don’t want to waste company time and resources on things that are ineffective, but it’s difficult to change course without first processing it.

By setting aside the monthly time for a monthly business review, it provides the opportunity to commit to learning and adjusting anything and everything. This isn’t based on off-hand information but on solid information and data that helps you identify and evaluate what’s most important for your business.

How to conduct your Monthly Business Review

Agenda for a monthly business review.

The Agenda for a Monthly Business Review should include Goals, Metrics, and Projects, but your primary focus should be on the Metrics.  Specifically you should be reviewing each metric and its Target vs. Actual performance.  If the actual performance is not where it should be, you should be looking to ensure that there is a plan to fix it in the next period.

A simple formula to follow for a successful Monthly Business Review:

• State the Strategic Goal or perspective
• Identify the Key Metrics
• Identify the Target Value and the Actual Value
• Express the status as a color: Red/ Yellow/Green
• Add a brief comment for each metric explaining the reason for the color code.

Questions to ask in a Business Review

The following questions are appropriate for a Monthly Business Review:

• Is the strategy or goal still important and relevant?
• Is the chosen metric still the best way to measure our progress?
• What is our progress toward the established target?  (Indicated with color Red, Yellow, Green).

If target is Green , ask:

• Is there anyone who performed exceptionally that should be recognized? (This is a great opportunity to provide kudos)

If the Target is Yellow , ask:

• Do we know why we missed the target?
• Is a corrective action required?

If the Target is Red , ask:

• What is being done to bring this metric back to green?

Best Tools & Resources to Conduct a Monthly Business Review

Download this Business_Review_Template PDF to help you more easily and efficiently manage your Monthly Business Review with metrics and targets in place.

Moreover, you are prompted to use these resources from KPI Fire to conduct better business reviews and maintain your CI projects:

• Balanced Scorecard Examples
• Should you be using a Balanced Scorecard?
• Using the Balanced Scorecard Feature in KPI Fire

If you haven’t done so yet, now is the time to download your free DEMO version of KPI Fire to easily and efficiently plan, execute and manage your Monthly Business Review.

Watch as Keith Norris, CEO of KPI Fire takes you step-by-step on how to use KPI Fire to make your Monthly Business Review the most important meeting of the month…

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About the author: keith norris.

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• > How to Conduct High-Value Monthly Business Reviews for Continuous Improvement

How to Conduct High-Value Monthly Business Reviews for Continuous Improvement

Posted by Maggie Millard

Dec 13, 2023 5:07:59 PM

Imagine a monthly ritual that doesn't just review performance but revolutionizes it. Monthly business reviews can redefine your approach, elevate critical metrics, and propel your organization toward unparalleled growth. The journey to peak performance starts with a commitment to regular reflection. 

For example, Salesforce implemented a practice of monthly business reviews to assess key performance indicators (KPIs), customer feedback, and strategic initiatives. This disciplined approach contributed to a remarkable 25% increase in customer satisfaction within a year, demonstrating how regular and effective monthly reviews can drive positive outcomes and achieve transformative improvements in customer-centric metrics.

Join us as we explore the untapped potential that awaits your monthly business reviews.

What is a Monthly Business Review?

A monthly business review (MBR) is a structured and recurring process in which an organization assesses its performance, reviews vital metrics, and evaluates progress toward strategic goals every month. This strategic practice involves gathering relevant data, analyzing financial and operational results, and discussing key performance indicators (KPIs) to gain insights into the business's overall health and trajectory. The monthly review serves as a platform for informed decision-making, aligning teams with organizational objectives, and fostering a culture of continuous improvement.

Why is a Monthly Business Review important?

Conducting monthly business reviews offers a range of overarching benefits for organizations, contributing to their strategic focus, management and overall success:

Improves communication and better business conversations

MBRs promote open communication and transparency. By sharing performance data and insights during these reviews, team members build trust and ensure everyone shares the same understanding of organizational goals.

MBRs help align various departments and teams with the organization's strategic goals . By consistently reviewing progress toward key objectives, teams can ensure their efforts are directed toward overarching strategic priorities.

MBRs provide greater insight into resource utilization and efficiency. Organizations can optimize resource allocation by identifying areas of overallocation or underutilization, ensuring that resources are deployed where they can have the most significant impact.

Engage individuals to take responsibility

MBRs foster a culture of accountability by linking individual and team performance to organizational goals. This engagement is crucial for creating a sense of ownership and responsibility among employees.

MBRs provide a foundation for continuous improvement through regular performance review and data analysis. Organizations can identify areas for enhancement, implement targeted initiatives, and track the impact of these efforts over time.

Regular reviews enable the early identification of issues and bottlenecks. This proactive approach allows organizations to address challenges before they escalate, minimizing the impact on overall performance.

A scheduled time to learn and react

MBRs provide a regular real-time assessment of the organization's performance. This allows for timely responses making adjustments to emerging challenges and capitalization of opportunities, enhancing the organization's agility.

Reviewing key metrics and performance indicators in MBRs regularly ensures that decisions are based on up-to-date and relevant information. This informed decision-making is crucial for effective and responsive management.

Adaptability is crucial to success in dynamic business environments. MBRs facilitate adaptability by allowing organizations to reassess their strategies, pivot if necessary, and respond effectively to changes in the internal and external landscape.

Reviewing customer-related metrics regularly ensures established companies have a consistent focus on customer satisfaction and loyalty. This customer-centric approach is vital for sustaining and growing a loyal customer base.

How to conduct your Monthly Business Review 

Conducting effective business reviews on a monthly basis requires a systematic and structured approach. Here's a step-by-step guide on how an organization should conduct MBRs:

Set an Agenda and Establish Meeting Guidelines

Develop a structured agenda and use monthly business review templates for the MBR meeting. The agenda should include sections for reviewing financial performance, operational metrics, progress toward strategic goals, and other pertinent topics. This agenda helps maintain focus and ensures that all relevant aspects are covered.

Invite key stakeholders to participate in the MBRs. Attendees may include department heads, select leaders, executives, and other individuals responsible for meeting the core team's responsibilities or for contributing to strategic objectives. Ensure representation from different functional areas.

Questions to ask in a Business Review

During a Monthly Business Review (MBR), leaders should ask a range of questions to gain insights into the organization's performance, progress toward strategic objectives, and areas for improvement. Here are some key questions leaders may consider asking:

Financial Perspective:

• How did we perform against our financial targets this month?
• Are there any significant variances in financial performance, including revenue, expenses, or profitability, that need attention?
• What impact did our financial performance have on overall organizational health?

Customer Perspective:

• How is customer satisfaction trending, and what feedback have we received?
• Have there been any changes in customer needs or preferences that we should address?
• What initiatives are in place to enhance the customer experience, and how effective are they?

Internal Processes Perspective:

• What improvements have been made in our key internal processes?
• Are there bottlenecks or inefficiencies that need to be addressed?
• How well are we meeting our operational targets, and what adjustments are necessary?

Learning and Growth Perspective:

• What initiatives have been implemented to foster employee development and engagement?
• Are there skills gaps or training needs that require attention?
• How does the organizational culture contribute to learning and growth?

Strategic Initiatives:

• What progress have we made on our strategic initiatives and projects?
• Are there any roadblocks or challenges hindering the execution of strategic plans?
• Are our strategic initiatives still aligned with current market conditions and organizational goals?

Risk and Opportunities:

• What potential risks could impact our performance, and how are we mitigating them?
• Are there emerging opportunities that we should capitalize on?
• How well are we adapting to changes in the external business environment?

Employee Engagement:

• How satisfied are employees with their work environment and roles?
• Are there any concerns or feedback from employees that need to be addressed?
• What initiatives are in place to promote employee well-being and professional development?

Continuous Improvement:

• What lessons have we learned from our experiences this month?
• What specific actions will we take to improve performance in the next month?
• How can we enhance our Monthly Business Review process for better outcomes?

Long-Term Strategy:

• How does our performance this month contribute to our long-term strategic goals?
• Are there adjustments needed in our long-term strategy based on current performance?
• What investments or changes should we consider for sustained success?

Review your financial statements

Financial statements, including the income statement, balance sheet, and cash flow statement, offer a comprehensive view of the company or organization's economic performance. The leadership team can assess revenue generation, profitability, and overall financial stability.

Financial reports provide solid information that aids leaders in making data-driven decisions. Financial statements provide the necessary information for effective decision-making, whether it's resource allocation, investment decisions, or cost-cutting measures.

Using financial statements during an MBR also enables comparing budgeted and actual performance for specific accounts. This analysis helps leaders identify any variances, track and understand the reasons behind them, and make informed decisions to align future activities with budgetary goals.

Reevaluate your milestones 

Clearly articulate the objectives of the MBR process. Identify the key performance indicators and metrics that align with the organization's strategic goals. These metrics should be measurable, relevant, and tied to overall performance.

Relevant data and performance metrics should be collected before the MBR. This data may include financial metrics, operational metrics, customer feedback, and progress on strategic initiatives. Use this information to conduct a thorough performance analysis.

Review your long-term goals and strategy 

Assess progress on strategic initiatives and projects. Discuss any challenges or roadblocks encountered and identify solutions. Ensure the initiatives align with the organization's key objectives and long-term strategic goals.

Provide time to discuss any company issues 

Encourage open-ended discussion during the MBR. Allow participants to share insights, raise concerns, and propose solutions. Foster a collaborative environment where different perspectives are considered.

Use the MBR to identify potential solutions for areas for improvement . Analyze performance gaps and discuss actionable steps to address deficiencies. This proactive approach contributes to continuous improvement.

Set a consistent schedule for the MBRs. A predictable cadence ensures that teams are prepared for reviews and that the organization can adapt quickly to changing circumstances.

By following these steps, organizations can conduct purposeful, collaborative monthly business reviews, contributing to continuous improvement and strategic alignment. Regular and well-executed MBRs are crucial for enhancing organizational performance and for team adaptability, making sure everybody is on the same page.

The monthly business review emerges as a linchpin in the fabric of strategic management, offering organizations an invaluable opportunity to navigate the complex business terrain with precision and foresight. By delving into financial statements, key performance indicators, and strategic initiatives, the leadership team gains a panoramic view of their organization's health, enabling them to make informed decisions, adapt to changing landscapes, and foster a culture of continuous improvement. The importance and value of the monthly business review extends beyond the boardroom, reaching into every facet of the organization, from promoting accountability and transparency to aligning teams with overarching strategic goals. As businesses navigate the dynamic currents of today's global landscape, the monthly business review stands as a compass, guiding them toward sustainable success and resilience in the face of evolving challenges.

How KaiNexus can help 

KaiNexus provides a centralized platform for managing improvement initiatives. It allows organizations to gather and consolidate relevant data, including progress updates, KPIs, and the status of ongoing projects, for monthly business reviews.

KaiNexus facilitates collaboration among teams by providing a platform for communication and feedback. Enhanced collaboration ensures that relevant stakeholders are engaged and actual performance is aligned with organizational goals, which benefits the monthly business review.

KaiNexus offers customizable dashboards , helping organizations tailor data presentations to their needs. These dashboards are instrumental in conveying relevant information during monthly business reviews.

In addition to these helpful features for customers, the KaiNexus blog and website offer valuable tips and tools for anyone looking to optimize business performance and achieve operational excellence. You can subscribe to this valuable content for free.

Topics: Leadership , Improvement Process , Improvement Methodology

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How to Conduct High-Value Monthly Business Reviews

Monthly business reviews (MBRs) are a great way to track your progress against your strategic and operating plan, make adjustments to align your team, and capitalize on opportunities in the marketplace. Most importantly, consistently conducting high-value MBRs helps you and your leadership team to create a culture of commitment and high performance.

Each month, we want to step back from day to day activities to assess several questions:

• How well are we executing on our plan?
• What issues or obstacles do we need to address?
• What opportunities have arisen that we may want to pursue?
• What adjustments, if any, do we need to make to the plan or our approach?

Who: The leader and team who are ultimately responsible and accountable for the creation and execution of the plan (at the company or department level). Typically this meeting involves the CEO and his/her direct reports.

What : A standing meeting, approximately ninety minutes to two hours in duration. The MBR follows a structured agenda to review performance, assess issues and opportunities, and make adjustments to the plan as appropriate. As a standing meeting, the MBR becomes part of the operating rhythm of the organization and creates a functional structure for managing the performance of the business.

When/Where : As soon as practical after the close of a prior month – once financial results can be assembled and reported – typically scheduled between the 5 th and the 15 th of the month. Ideally in person, but can be conducted virtually with team members calling in if travelling. It can be tempting to reschedule this meeting or excuse absences due to various events – but doing so erodes the discipline and accountability of the process.

Starting Point: Recognize that the MBR process is an evolution towards greater communication, accountability, and effectiveness. As you become more effective in preparing for and conducting this meeting over time, less meeting time will be spent on informational updates and more time will be spent on issues, opportunities, and strategic thinking. Be aware that this type of disciplined MBR may be new for your organization, and may create some discomfort around accountability as the organization becomes more focused on meeting commitments in the plan. A MBR debrief is built into the agenda, so you can make this meeting more effective over time.

Tone: A good MBR creates a supportive environment for the leadership team to monitor performance and to constructively address issues and opportunities. When performance is not in line with the plan – either objectives or action plans are not being met – then it is important to get to a true understanding of underlying root causes, whether it is people, systems, processes, and to identify solutions which address these issues.

At times, external events will impact plan performance – changes in customer behavior, competitive actions, or other market conditions. It is important that the leadership team discerns if performance is genuinely impacted by the market, in which case a strategic shift may be required, or if it is due to internal issues, in which case different action may be required.

Pre-work: To prepare for each MBR, each plan owner needs to:

• Review your One Page Plan – or whatever strategic planning document you are using – and the plans of your colleagues
• Update your scorecards and progress reports

How are you tracking on objectives? How are you tracking on action plans?

• Prepare your 5 minute review

Scorecard/progress reports Success Stories Issues/Opportunities for team discussion

• General company information, such as financial results, can be circulated (or accessed) (ideally 48 hours in advance of the meeting.)
• Have copies available of the plan(s) to refer to during the meeting as necessary.

MBR Suggested Agenda:

15 minutes:

• Gathering & welcome
• Review financial & operating performance for prior month
• Review progress on company-wide or department-wide action plans

30-45 minutes:

• Individual team member reports: 5 minutes each
• Prioritize issues/opportunities for discussion:
• Identify top 1-2 issues/opportunities for immediate discussion
• Table/schedule remaining issues for resolution as full group or sub groups

30 minutes:

• Work top 1-2 issues to resolution

10 minutes:

• Specify any action items or plan adjustments resulting from the MBR
• Debrief MBR – how well did this meeting serve its purpose?

Plus – what worked well?

Delta – what will make it better next time?

• Confirm schedule for next MBR

If you consistently conduct Monthly Business Reviews, you will discover that you develop much greater commitment, communication, and clarity.

One word of warning – the MBR process does shine a bright light on performance issues, so if you have a mismatch on your leadership team and things are simply not getting done, the MBR process will reveal it. Actually, it will reveal what everyone already knows but may not want to talk about – but that is a topic for a different post.

One final note: If you do not have a current strategic and operational plan in place, you need to develop this plan immediately – prior to implementing the MBR process. I recommend the One Page Business Plan as a simple and effective tool to capture both strategic and operational commitments on one page – with this approach, each person on the leadership team for a company or function develops their own one-page plan – which is aligned to the overall business plan.

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Thanks Ron – I was eagerly looking for these details and the way you explained it, will really help me.

Thanks again…

Warm regards, Amit Khandelwal

• Pingback: Main Reason NOT To Do Monthly Business Reviews - Ron Wilder

Great synopsis!

It’s really worth reading

Great write-up, wonder has the view changed since the 2010 post..?

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How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated May 7, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

Free business plan templates and examples

Kickstart your business plan writing with one of our free business plan templates or recommended tools.

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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A Comprehensive Guide to Mastering the Monthly Business Review (MBR)

Mastering the monthly business review (mbr) for business success.

In the dynamic world of business leadership and management, the Monthly Business Review (MBR) stands out as a pivotal process that ensures a business stays aligned with its annual goals and financial health. It's not just a routine meeting; it's a strategic session where success is celebrated, challenges are addressed, and future directions are set.

Preparing for the MBR

The effectiveness of an MBR largely depends on its preparation. Selecting the right time, typically in the second week of each month, and inviting relevant attendees, such as business partners or managers, is crucial. This setup allows for a comprehensive review of the previous month's performance, based on critical documents like the Profit & Loss statement and Balance Sheet. Starting with success stories sets a positive tone, acknowledging achievements before delving into more critical analyses. Reviewing action items from the previous meeting ensures continuity and accountability.

Key Components of the MBR

An MBR is structured around several core components.

• Success Stories: This segment celebrates victories, however big or small, fostering a positive atmosphere.
• Summary of the Month: It includes a critical evaluation of Profit, Sales, Operations, and Risks. This analysis helps in understanding whether the business is on track and identifies areas requiring attention.
• Staff Updates: Any staff-related updates or issues are discussed here, ensuring that team dynamics are always in sync with business objectives.
• Action Items: The most crucial part of the MBR. Action items should be specific, measurable, assigned to an individual, and have a clear deadline. They are the driving force for what needs to be accomplished before the next MBR.
• Conducting the MBR Meeting

Conducting the MBR is a meticulous process. It's essential to move systematically through the agenda, ensuring every aspect of the business is reviewed. This meeting is not just about reviewing reports but also about creating a space for open dialogue and collaborative problem-solving. Ensuring every action item is addressed and assigned appropriately guarantees that the meeting translates into tangible results.

After the MBR: Communication and Implementation

The MBR's impact extends beyond the meeting room. Communicating its outcomes to the entire team, possibly through innovative methods like video updates, is crucial for maintaining transparency and team cohesion. Implementing the action items is where the real work begins. Regular follow-ups and tracking progress are essential to ensure that these actions drive the business towards its goals.

The Monthly Business Review is more than a meeting; it's a vital business process that ensures the continuous alignment of a business with its strategic goals. By regularly analyzing performance, addressing issues, and setting clear action plans, the MBR helps businesses navigate the complex landscape of modern business management. Implementing this process is a step towards ensuring that a business not only survives but thrives in today's competitive environment.

Frequently Asked Questions:

How do i run a monthly business review.

Running a monthly business review involves gathering relevant data, analyzing key metrics, assessing performance against goals, identifying areas for improvement, and making strategic decisions to drive business growth.

What happens in a monthly business review?

During a monthly business review, stakeholders come together to review performance metrics, discuss achievements and challenges, evaluate progress towards goals, and develop action plans for the upcoming month.

What is an MBR (Monthly Business Review)?

An MBR, or Monthly Business Review, is a regular meeting where stakeholders review the performance of a business over the past month, discuss key issues and opportunities, and plan for the future.

How do you conduct a monthly review?

To conduct a monthly review, gather relevant data, prepare performance reports, schedule a meeting with stakeholders, facilitate discussions around key metrics, analyze outcomes, and develop action plans for improvement.

What should be included in a business review?

A business review should include an analysis of financial performance, customer satisfaction metrics, sales and marketing effectiveness, operational efficiency, and any other relevant key performance indicators (KPIs).

What is the purpose of a monthly review?

The purpose of a monthly review is to assess the overall health and performance of a business, identify areas for improvement, make data-driven decisions, and align strategies with organizational goals.

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Disclaimer: This publication and the information included in it are not intended to serve as a substitute for consultation with business consultants and professionals. Specific business, financial, legal issues, concerns and conditions always require the advice of appropriate professionals. Any opinions expressed are solely those of the participant and do not represent the views or opinions of Balloon Suite.

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Home > Business Software and Tools > How To Run An Effective Monthly Business Review

How To Run An Effective Monthly Business Review

Nov 24, 2023 | Business Software and Tools

A Monthly Business Review (MBR) is a critical component of strategic management. It is a regular check-in to ensure a company’s activities align with its goals. An MBR is a comprehensive audit of a business’s recent performance against its planned objectives, allowing for real-time adjustments and strategic decisions. It’s an opportunity to bring together key stakeholders to track progress, analyse data , and set action items, ensuring the entire organisation moves in the right direction.

To run an effective MBR, it’s crucial to prepare thoroughly, involve the right mix of team members, and foster an environment of open communication and accountability. We look into the nuances of executing productive MBRs, offering insight into best practices for meeting guidelines that can propel a business toward its targets with precision and agility.

Table of Contents

The Purpose of Monthly Business Reviews

MBRs are essential for businesses that aim to keep a sharp focus on their strategic objectives and ensure their actions align with their goals. These reviews offer a structured chance to reflect on the company’s performance over the past month. They assess whether the business is on track to meet its targets and allow for timely adjustments. They’re fundamental for companies dedicated to excellence in execution and committed to sticking to their key priorities.

MBRs promote a culture of reflection and learning by providing a regular, scheduled opportunity to review progress . This monthly review rhythm ensures that you reflect twelve times a year, which is key for ongoing improvement. During these sessions, individuals from various levels of the organisation engage in a focused discussion on key metrics. This reinforces the importance of these metrics and the focus they represent.

The monthly business review template and process help monitor progress and identify insights from different parts of the business. It enables recognising potential solutions or challenges that might take time to be evident to the core team. These regular reviews are necessary for issues to be noticed and worsen over time. By setting aside time each month for a business review, organisations commit to a cycle of learning and adaptation, which is vital for sustained success.

The agenda of an MBR should focus primarily on metrics, as they provide a quantifiable measure of performance against targets. It’s crucial to review each metric’s actual performance against its target. Additionally, it’s important to have a plan to address any variances in the upcoming period.

Tracking Progress Against Goals

A critical component of the MBR is to evaluate the relevance and significance of the company’s strategy or goals. It involves questioning whether the chosen metrics are still the best progress indicators. It also examines how close the whole business model is to achieving its established targets.

This can be visualised using a red, yellow, and green traffic light system to indicate levels of concern or success. This system provides a clear and immediate understanding of where attention is needed.

Identifying Opportunities and Challenges

MBRs reveal opportunities and challenges that may take time to be evident to the core leadership team. By drawing on insights from across the business, these reviews can pinpoint areas for potential innovation. They can also signal early warnings of emerging issues. This broader perspective is invaluable for maintaining a proactive approach to business management .

Ensuring Accountability Across Teams

One of the main advantages of MBRs is enhancing accountability throughout the organisation. By encouraging individuals to take ownership of the metrics relevant to the MBR and to commit to corrective actions when necessary, there’s a noticeable increase in individual ownership and commitment. This sense of responsibility is crucial for ensuring that all teams are aligned and working towards the same objectives.

Informing Strategic Decisions

The insights gained from MBRs are useful for immediate corrective actions and play a significant role in informing strategic decisions. By focusing on metrics and their performance, businesses can make informed decisions about where to allocate resources and adjust strategies to meet their goals better. This forward-looking approach is essential for businesses that want to stay agile and responsive to changing market conditions.

Preparing for a Productive Review

Gathering key business metrics.

You’ll start by collecting critical business metrics to ensure effective MBR. These should include baselines reflecting historical performance, current data, and projected trends for each goal or critical success factor. This information serves as a foundation for assessing how teams or individuals perform, celebrating successes, and identifying areas needing improvement.

By presenting these key performance measures, stakeholders can develop a shared understanding of the company’s position and progress towards objectives.

Structuring the Agenda

An agenda is the backbone of a productive business review meeting. It should clearly outline the topics for discussion, the objectives of each segment, and the time allocated for them. Listing agenda topics as questions can guide the business planning team to focus on what needs to be answered, whether you’re sharing information, seeking input, or making decisions.

Indicating who is leading each discussion ensures that the responsible individuals can prepare adequately. A well-structured agenda facilitates a focused meeting and enhances the team’s ability to address any issues that arise efficiently.

Involving the Right Stakeholders

The presence of the right stakeholders significantly influences the effectiveness of a business review meeting. It’s crucial to involve individuals familiar with the program who can contribute valuable insights. This includes decision-makers and strategic influencers who can ensure that the monthly review meeting’s outcomes are actionable.

Without the right mix of participants, the meeting risks becoming an exercise in futility, leaving attendees with more questions than answers just a few clicks in. Therefore, it’s vital to carefully select attendees who can drive the meeting towards meaningful conclusions and decisions.

Pre-Review Communication and Materials

Preparation for a business review meeting extends beyond setting an agenda. It’s important to circulate the agenda and any relevant review materials a few days in advance of meetings to allow stakeholders to provide feedback and come prepared. This pre-review communication encourages engagement and enables fine-tuning of the agenda to ensure it addresses the most impactful drivers for the client.

During the meeting, it’s beneficial to recap agreed action items, timelines, and responsibilities before moving on from each topic. Additionally, allocating time for feedback on the meeting itself can provide insights into what worked well and what could be improved, fostering a culture of continuous improvement.

Conducting the Monthly Business Review

Presenting financial performance.

When discussing financial performance, employ visual aids such as dashboards or graphs to illustrate key metrics and trends. These should underscore indicators like cost per primary outcome, cash reserves, and working capital, with benchmarks for comparison.

An executive summary that encapsulates the financial data should be prepared, highlighting deviations from projections or notable shifts. Include a year-over-year analysis on a monthly basis to demonstrate long-term trends. Summarise financial statements, keeping detailed line items to a minimum, but be prepared to delve into specifics if prompted.

Utilise ratios that synthesise multiple financial data points for a comprehensive view. Ensure these documents are available to board members ahead of time for review. During the presentation, emphasise strategic advice and potential solutions to financial hurdles.

Reviewing Marketing and Sales Metrics

Examine marketing and sales metrics to gauge the company and core team’s responsibilities for revenue growth and customer acquisition efficiency. Assess the influence of marketing on the customer’s path to purchase.

Closed-loop marketing provides insights into marketing’s long-term impact on marketing performance, including customer retention and lifetime value. Focus on marketing’s contribution to sales and the customer journey.

Assessing Operational Efficiency

Evaluate the input-to-output ratio of company processes and benchmark these against industry standards or competitors. Use KPIs to monitor productivity, output, and quality and consider efficiency ratios for resource utilisation insights.

Employ tools like Wrike for real-time project and task monitoring, which aids in operational efficiency assessment and improvement. Strive for continuous enhancement, prioritising high-quality standards while optimising processes.

Discussing Customer Feedback and Satisfaction

Leverage customer feedback to inform all business areas, ensuring it’s actionable and growth-oriented.

Utilise feedback to identify strengths and areas needing enhancement, influencing content marketing strategies and product or service improvements. Demographic data can help customise responses and improvements.

Establish a customer feedback loop for prompt collection, categorisation, and action on feedback. Communicate changes resulting from feedback through all suitable channels. Regularly track customer satisfaction trends with metrics such as NPS and CSAT and monitor social media for immediate customer sentiments.

Monitor churn rate to gauge customer retention and satisfaction. Encourage a company-wide focus on customer satisfaction and integrate self-service options like chatbots and FAQ pages for 24/7 support.

You can offer pertinent solutions and refine support workflows by understanding your customers and their issues. Automation and comprehensive process documentation can further improve the customer service experience . Remember, content customers are more likely to remain loyal and recommend your brand, contributing to a high retention rate and a controlled churn rate.

Analysing MBR Outcomes

Drawing insights from data presented.

The transformation of raw data into actionable insights begins with understanding the specific business inquiries at hand. Combining human insight with machine intelligence enhances the speed and breadth of analysis, ensuring insights are precise and responsibly obtained.

The process for extracting meaningful insights from data involves identifying the issue at hand. It’s about discerning data-driven insights through patterns and segments, supported by robust evidence in a format that resonates with stakeholders.

To effectively extract insights from the data in an MBR, it’s necessary to prepare the data by eliminating redundancies and completing incomplete values. Visualising relationships between data points can reveal trends and correlations that might otherwise be overlooked. Computing statistical metrics such as mean, median, and standard deviation provides a benchmark for comparison and a firmer grasp of the business data.

Sophisticated analytic models, such as decision trees and clustering, can be employed to detect more intricate patterns and relationships, thereby enhancing the insights obtained.

Making Data-Driven Decisions

The essence of Data-Driven Decision-Making (DDDM) lies in interpreting and acting upon the insights gleaned from data. Distinguishing between correlation and causation is crucial to avoid misguided strategies. Considering historical trends and integrating data with other sources of information can lead to more informed decisions.

DDDM fosters a culture that emphasises critical thinking and inquisitiveness, where data initiates discussions. This requires a self-service approach where employees can access necessary data balanced with appropriate security and governance. Opportunities for training and development should be provided to enhance data literacy across the organisation.

Leadership support and a culture that embraces data are also essential in fostering DDDM. These factors help establish an environment where data is integral to strategic planning, ensuring that the significance of data and its effective use is understood throughout the organisation.

Setting Action Items and Owners

Once insights are interpreted, and decisions are made, it’s crucial to translate these into specific action items with designated owners. This ensures accountability and drives the execution of strategies derived from the MBR. By linking performance to metrics and facilitating data access, organisations can foster a culture of ongoing enhancement.

Dashboards can serve as visual tools that simplify data interpretation and guide team members in taking action. These platforms are indispensable for tracking progress and identifying areas requiring additional attention, maintaining focus on the metrics that underpin business success.

Following up on Previous Action Items

A comprehensive MBR and management strategy also involves revisiting past action items. This creates a cycle that is fundamental to the process of continuous improvement. By consistently analysing insights, making informed choices, and establishing action items, businesses can refine their data analysis and decision-making processes.

The implementation of self-service data analytics and visual analytics tools can significantly impact strategy and operations, enabling teams to identify trends and patterns that inform their subsequent actions. These technologies support a more agile and proactive approach to business management.

Best Practices for Effective MBRS

Maintaining a consistent schedule.

Adhering to a regular timetable for MBRs is essential. Conducting these sessions shortly after the close of each month allows for the timely analysis of recent financial outcomes. Typically, these should be planned for a period ranging from the 5th of the previous month to the 15th of each month. Establishing a routine not only fosters a habit of systematic evaluation and responsibility but also proactively addresses potential concerns.

Emphasising Open Communication

Fostering a culture where dialogue is encouraged can significantly enhance the effectiveness of MBRs. Creating a forum where team members from diverse departments can discuss performance metrics in a structured manner emphasises their significance for better business conversations and encourages active participation. Such an environment promotes recognition of achievements and collaborative problem-solving.

It is crucial for leaders to facilitate this process in a way that constructively reviews performance and strategically tackles both challenges and opportunities.

Using MBR Software and Tools

Leveraging specialised software and tools can streamline the MBR process. These applications facilitate the comparison of expected versus actual metrics through intuitive visual representations. By equipping your team with the necessary strategic planning documents, scorecards, and progress reports in advance, preparation for MBRs becomes more efficient. Distributing key company information, such as financial reports and data, well before the meeting ensures that participants can engage in substantive discussions.

Continuously Improving the MBR Process

The iterative enhancement of the MBR process is crucial for its success. Regularly reassessing the pertinence of strategic objectives and the progress towards achieving them is a fundamental aspect of MBRs. This iterative approach not only identifies areas of underperformance but also fosters the refinement of strategies and methodologies as required.

Through diligent attention to the most critical issues and opportunities, the team can delineate necessary actions or adjustments, thereby perpetuating the improvement cycle inherent to the MBR process .

Sustaining Growth Through MBRs

Harnessing the power of Monthly Business Reviews is not merely a best practice—it’s a strategic necessity for businesses intent on maintaining relevance and competitiveness. The blend of reflection, analysis, and action fostered by MBRs catalyses sustainable growth and continuous improvement. As businesses navigate an ever-changing landscape, the insights and accountability provided by effective MBRs are invaluable.

By steadfastly committing to this cyclical process, organisations ensure they are not just reacting to change but actively shaping their future. With each MBR, your business sharpens its focus, refines its strategies, and strengthens its position in the marketplace. Let the preparation, engagement, and follow-through cycle inherent in MBRs drive your business forward. Embrace this rhythm of excellence, and watch your business meet its targets and exceed them.

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Data & Analytics

4 minute read

Monthly Business Reviews Spark Powerful Conversations and Drive Action

Jun 22, 2020

Written by: Hanna Turner

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Taking the time to look at where you’ve been and where you want to be headed can ensure you chart the right course going forward.

A well-orchestrated, data-driven MBR gives you a bird’s eye view of your business with targeted internal and external 

measurements. Across any industry, its near-real-time data can help ground strategic conversations about future steps for your business. However, that benefit only comes if you:

• Commit to learning and acting. An MBR opens windows on ways to work better or change course, based on solid information on the things that are most important. Don’t waste company energy and resources if all you’re doing is simply checking a box.
• Engage leaders across your business. MBRs can carry a heavy load, driving organizational alignment on shared goals. The more leaders know about other divisions, the more they’ll care about the whole business and work together.

Every organization – no matter the size – can benefit from this calculated moment to stop, review, assess and adjust. Focus on your company’s need for this review, identify what data delivers that, and figure out how to best present your results. The most important element of your MBR is that each cycle culminates with a robust conversation among decision-makers, creating a purposeful opportunity to come together and take smart action.

Leadership Drives What an MBR Reports

Any MBR worth its weight is designed and built specifically to the organization. Sit down and have a frank conversation with your leaders to explore what they need, clarify that that’s what they really need, and determine what they want to get out of this ongoing experience .

Be diligent about selecting information that tells the full story of your organization. Work with leaders across the organization to identify the top metrics needed to understand the effectiveness and efficiency of each area and ensure they align with the information presented in the MBR. You want the conversations to be focused on driving business improvements – not on whether the right information is being shared or whether it’s accurate.

Ultimately, the metrics you select should allow leaders to interpret results based on performance, external impacts and environmental conditions. That doesn’t mean you should pick hundreds of metrics . Put only the most critical metrics in your MBR  –perhaps only a dozen or so indicators for each business area. When you review results and find something that seems off, that’s when to dig into additional metrics to get context and uncover the story behind performance.

Setting Up a System that Delivers

Your MBR is only as good as the quality of your inputs, which should be authorized data with controls and governance to keep it accurate. Integrity in your data translates to the integrity of your recommendations. Data selected should match your MBR’s intent and be collected promptly. If getting the right information means a one-month lag on one metric, advise your leaders and work to identify ways to get that data faster. Waiting to deliver an MBR for a few metrics can mean lost time for making adjustments: Timeliness matters.

Identifying data is only part of the task. The reporting should present expected performance markers so leaders can single out successes or potential risks. This allows the leadership team to quickly assess which areas of the business need additional focus.

Once you have a general process in place, running a pilot MBR with trusted leaders generates great feedback to refine your report – but don’t obsess over pre-launch perfection . You want to start with a solid MBR that will continue to evolve and generate buy-in, not cynicism or skepticism. Besides, businesses grow and change all the time, and so should your MBR.

For most organizations, a monthly review is the appropriate cadence, knowing that daily doesn’t offer enough data for identifying trends and opportunities.

Influencing Better Business Conversations

The heart of the MBR is the conversation it ignites.

Ideally, leadership meetings should take place within days of completing your MBR, so data is fresh. Even with overloaded schedules, your decision-makers need to hold this sacred meeting slot. Delay it a week, another week, maybe a third, and you’ve lost the value of that MBR.

We recommend engaging a separate leader and facilitator, who could be internal or external to your team, to run your meetings. This leader keeps the discussion positive while pushing and probing for details. The facilitator keeps the meeting on track and handles tactical elements, such as detailing offline assignments.

With leaders in the same place, focused on the same set of data, organizations create the opportunity for truly impactful conversations with the necessary context from both the report and their daily experiences to drive thoughtful decision-making. It’s an opportunity to look back, assess decision-making and determine if the learnings could be applied elsewhere in the organization. It’s also an opportunity to look ahead and think about how you would approach these decisions in the future: Is COVID-19 impacting us more than we thought? Do we need to hire in order to handle expected call volume increases in Collections?

If you look at five parts of your business and all but one is trending green, devote extended time and energy during this session to uncover the story behind the one in red. Maybe you see customer contacts have gone down in collections, but you need to find out whether that was a result of a positive strategic change – perhaps a push to digital service –or an environmental change, such as job losses from COVID-19. Assign an analyst to dig into supporting data for answers. If immediate action is needed, that information should be shared with leadership to drive change, but, either way, the insights should be shared in the next review to inform everyone what was found.

Initially, you should review what went well and what was missing every month. As your process matures, that can become a quarterly assessment. Business needs change – as do external market conditions – and your MBR needs to keep up.

And while it’s natural to focus on opportunities to adapt, eliminate and augment work based on your monthly review, never overlook the moments to celebrate your successes. After all, effective MBRs shape informed decisions that generate even more wins.

Make sure your MBR is designed for what you need – including key metrics that provide the critical insights to drive your business. Our team can guide your business teams in developing MBRs  that help you identify opportunities, respond smartly to root issues and continue moving toward your strategic goals.

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Monthly review presentation: A comprehensive guide

Learn how to create a monthly review presentation that's comprehensive and informative, with tips on content, design, and delivery.

Raja Bothra

Building presentations

Hey there, fellow presentation enthusiast!

Today, we're diving deep into the world of monthly review presentations. If you're wondering how to craft the perfect monthly review, you're in the right place.

We'll explore what a monthly review is, its purpose, and how to create an engaging one. Plus, we'll share some do's and don'ts to keep you on the right track.

So, let's get started!

What is a monthly review?

A monthly review is like a business checkpoint, a chance to assess where you stand, where you're going, and what's been achieved. It's your opportunity to showcase your team's progress, delve into financial performance, and analyze key metrics. In essence, it's your business's monthly report card.

Purpose of monthly review presentation

So, why invest your time and effort in crafting a monthly review presentation? Let's take a closer look.

Navigation in the business wilderness: Think of a monthly review presentation as your trusty compass in the vast wilderness of business. It serves as your guiding light, helping you navigate through the complex terrain of company performance. Just as a compass ensures you stay on course in the wilderness, a monthly review presentation keeps your business journey on track.

Evaluation and informed decisions: One of the primary purposes of a monthly review presentation is to evaluate your performance. Imagine it as a magnifying glass, allowing you to closely examine your recent achievements and areas where improvement is needed. It's your opportunity to dissect the numbers, scrutinize the data, and draw meaningful conclusions.

These insights aren't just for show; they empower you to make informed decisions. It's like having a reliable map in the wilderness—knowing where you've been helps you chart the best path forward.

Team communication and alignment: It's a tool for fostering communication within your team, ensuring that everyone's compass points in the same direction. In the corporate jungle, alignment is key. Your presentation serves as a campfire where team members gather to share insights, exchange ideas, and collectively plan for the future.

But there's more to it:

Engaging with stakeholders: These presentations provide a crucial platform for communicating with stakeholders, be it investors, board members, or executives. It's akin to raising a flag, signaling your commitment to transparency and building trust. When everyone shares the same view through your presentation, you pave the way for alignment towards common goals.

Spotting growth opportunities: These presentations are like a pair of binoculars, helping you spot areas where your company or team may be underperforming. Armed with this knowledge, you can chart a course towards improvement, making necessary course corrections.

Setting sail towards goals: Additionally, these presentations help set the sails for the future. By reflecting on past performance, you can strategically set goals that ensure you're on the right course to achieve long-term objectives.

And there's more in the toolbox:

Fostering collaboration: Think of monthly review presentations as a campfire gathering where different teams and departments come together. Through these discussions, you can identify opportunities for teams to work together more effectively, promoting collaboration.

Boosting team morale: Finally, don't forget the morale boost. Monthly reviews are an opportunity to recognize and celebrate your team's successes. Think of it as sharing stories around the campfire, where each team member's contribution is acknowledged and applauded.

KPIs and metrics to add in monthly review presentation

Now, let's delve into the numerical heart of your monthly review presentation—the key performance indicators (KPIs) and metrics. It's crucial to understand that the specific KPIs and metrics you include should align with your industry and business goals. While there's no one-size-fits-all approach, here are some common KPIs and metrics to consider:

Financial KPIs: These are the dollars and cents of your operation, measuring your financial performance. This includes metrics like revenue, profit, and cash flow. These figures provide a financial snapshot of your business, and they're like the North Star guiding your financial strategy.

Operational KPIs: Imagine these as the gears that keep your business engine running smoothly. They gauge the efficiency and effectiveness of your operations. Metrics like customer satisfaction, employee productivity, and product quality are key indicators. They ensure your business engine hums along smoothly.

Marketing KPIs: Think of these as the compass that guides your marketing efforts. They measure the performance of your marketing campaigns. Metrics like website traffic, leads generated, and conversion rates reveal the effectiveness of your marketing strategies.

Sales KPIs: These are the sails of your business, propelling it forward. They measure the performance of your sales team, including metrics like the number of deals closed, average sales value, and sales pipeline. These indicators drive your sales strategy.

In addition to these, consider industry-specific KPIs and metrics that align with your unique business goals. For instance, if you're in the software industry, tracking metrics like the number of active users, feature adoption, and customer churn rate can be vital.

When selecting KPIs and metrics for your monthly review presentation, keep these principles in mind:

Alignment with business goals: Your chosen KPIs and metrics should align seamlessly with your overarching business objectives. They should act as your compass, guiding you towards these goals and highlighting areas that require attention.

Relevance to stakeholders: Remember, your audience is crucial. Choose KPIs and metrics that resonate with your stakeholders. These should offer valuable insights into your company or team's performance and address questions and concerns that matter to them.

Actionability: The KPIs and metrics you pick should be actionable. This means that you can use the data to identify areas for improvement and formulate action plans to enhance performance.

In essence, your KPIs and metrics are the stars of your monthly review presentation. They illuminate your path, helping you make informed decisions, improve performance, and steer your business towards success.

How to structure an effective monthly review presentation

Building an effective monthly review presentation is like constructing a well-designed building, it needs a solid structure to stand tall. Just as architects plan meticulously, you should structure your presentation with care, ensuring it engages your audience from the beginning to the end. Let's dive into the blueprint for success:

Foundation: Tailoring to your audience and purpose

Before you lay the bricks of your presentation, remember that it should be tailored to your audience and the specific purpose of the presentation. Consider who you're addressing and why. Are you speaking to investors, executives, or your team? Is your goal to inform, inspire, or strategize? Your structure should align with these considerations.

The architectural plan: A general structure

Here's a general structure that can serve as the framework for your monthly review presentation:

Introduction: Lay the groundwork by introducing yourself and the presentation's purpose. Provide a snapshot of the company or team's performance during the previous month. This sets the stage and gives your audience context.

KPIs and metrics: Next, delve into the core of your presentation—the KPIs and metrics. Make these numbers come to life by explaining them clearly. Visualize the data using charts and graphs, making it easier for your audience to grasp. Additionally, offer context by comparing the data to historical performance or industry benchmarks. Think of this section as the foundation, supporting the rest of your presentation.

Pinnacle achievements: Shine a spotlight on your company or team's shining moments during the previous month. Did you launch a groundbreaking product, acquire a multitude of new customers, or earn accolades? These are the pillars of success that deserve recognition.

Identifying improvement areas: No structure is perfect without a few renovation plans. Identify areas where your company or team is underperforming. This isn't about dwelling on shortcomings but about charting a course for improvement in the future. It's like identifying cracks in the walls and planning to reinforce them.

Building for the future: Discuss the blueprints for the future. What are the upcoming projects, marketing campaigns, or sales goals? This section is your presentation's penthouse, where you showcase your vision and aspirations.

The grand finale: Conclude your presentation by summarizing the key takeaways. Reiterate your company or team's goals for the future. This is where you add the finishing touches to your architectural masterpiece.

The interior design: Crafting a visually pleasing presentation

While structure is key, aesthetics also matter. Just as a well-organized closet is visually appealing, your presentation should be easy on the eyes. Consider using templates, whether in PowerPoint, Google Slides, or Prezent. Templates offer a professional and visually pleasing design that complements your well-structured content. Remember, a visually appealing presentation is like a beautifully furnished room—it enhances the overall experience.

In conclusion, crafting an effective monthly review presentation requires careful planning and execution. With a well-thought-out structure tailored to your audience and purpose, along with an appealing design, your presentation will stand as a testament to your expertise and dedication to excellence. Like any architectural marvel, it will captivate and inspire those who engage with it.

Do’s and don'ts on a monthly review presentation

Now, let's talk about some do's and don'ts to keep in mind as you craft your monthly review presentation.

• Keep it concise: Your audience's time is precious. Be succinct and get to the point. Focus on the most critical information.
• Use visuals: Visual elements like charts, graphs, and images can make complex data more understandable. Use them wisely to illustrate your points.
• Engage your audience: Make your presentation interactive. Encourage questions, discussions, and feedback. Engaged audiences retain more information.
• Provide context: Whenever presenting data or statistics, offer context. Compare current figures to historical performance or industry benchmarks to give meaning to the numbers.
• Tailor to your audience: Customize your presentation based on your audience's interests and needs. What matters to investors might not be the same as what matters to your internal team.
• Highlight achievements: Celebrate successes and milestones achieved during the month. It boosts morale and shows progress.
• Address improvement areas: Don't shy away from discussing areas where there's room for improvement. Acknowledge challenges and outline action plans for future growth.
• Keep it actionable: Your presentation should lead to action. Discuss concrete steps and strategies for reaching goals and improving performance.

Don'ts:

• Overload with data: Avoid overwhelming your audience with excessive data. Select the most relevant information to include.
• Use jargon: Keep your language accessible. Avoid industry jargon and technical terms that your audience may not understand.
• Ignore design: A cluttered or unattractive presentation can detract from your message. Use clean and professional design elements to enhance your visuals.
• Rush through it: Rushing through your presentation can lead to misunderstandings and missed opportunities for discussion. Pace yourself and allow time for questions.
• Focus solely on numbers: While metrics are crucial, don't forget the human element. Share stories, anecdotes, and real-world examples to make your presentation relatable.
• Neglect preparation: Lack of preparation can lead to stumbling, confusion, and a lack of confidence. Practice your presentation to ensure a smooth delivery.
• Be overly negative: While addressing challenges is essential, don't dwell on the negatives. Balance discussions of improvement areas with recognition of achievements.
• Forget follow-up: A presentation is just the beginning. Don't forget to follow up with your audience afterward, providing any additional information or addressing questions that arise.

Summarizing key takeaways

• Monthly reviews assess progress, financials, and key metrics.
• They guide your business journey like a compass.
• Foster communication, trust, and transparency.
• Spot growth opportunities and set future goals.
• Use relevant KPIs aligned with goals.
• Structure presentations carefully for clarity.
• Use visuals and keep it concise.
• Engage the audience for better retention.
• Address areas for improvement and propose actions.
• Follow up after the presentation for impact.

1. What is a monthly review presentation, and how can it benefit my business?

A monthly review presentation, often referred to as a monthly business review, is a crucial tool for assessing your company's performance. It helps you track your net profit margin, net increase in cash, and q-o-q revenue growth. You can use editable powerpoint templates, also known as ppt templates, to create these presentations effortlessly.

Here is a guide on business review presentation .

2. How can I download monthly review powerpoint presentation slides for my review meetings?

You can easily download monthly review powerpoint presentation slides from any trusted platform available online. These slides deck include sections for business overview, competitor analysis, client and project updates, and future roadmaps. They come in a fully editable format, allowing you to tailor them to your specific needs.

3. What should I include in my monthly review presentation to discuss major projects and future plans?

To discuss major projects and the future roadmap of your company, consider using customizable review ppt slides. These templates offer sections for detailing major projects won or lost and provide a platform to outline your company's goals for the next month and beyond. You can also incorporate slides that highlight financing and investing activities for a comprehensive overview.

4. Can I include financial statements and performance metrics in my monthly review presentation?

Absolutely! Monthly review presentation templates include slides for financial statements, such as net profit margin, net increase in cash, and current assets versus current liabilities. You can also illustrate your company's financial health with text, graphs and charts, displaying quantitative aspects of your performance.

5. How can prezent's monthly review presentation templates help with business communication?

Prezent's monthly review presentation templates are a powerful communication tool. They allow you to present major orders in hand, pipeline orders, and even qualitative aspects of your business, like threat analysis and overall score. These fully editable templates make it easy to convey your company's performance and future plans during review meetings.

Create your monthly review presentation with prezent

Prezent simplifies the process of crafting your monthly review presentation in two key ways: efficiency and brand consistency. With a vast library of professionally designed templates and over 35,000 slides at your disposal, you can save valuable time and effort. Prezent's templates are not only visually appealing but also structured to ensure your content flows seamlessly. This means you can focus on the content that matters most, such as key performance indicators (KPIs), achievements, and future goals, without worrying about design details. Plus, Prezent offers real-time collaboration features, allowing multiple team members to work on the presentation simultaneously, fostering teamwork and efficiency.

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20 Questions for Your Q1 Business Plan Review

The end of Q1 is the ideal time for a business plan review.

So how do you even review a business plan?

You’ve heard me say before that having a business plan is an absolutely essential part of getting to where you want to be in life. But no matter how good of a plan you make, at the end of the day, it’s still only a plan – which means it’s meant to be followed, not written and set aside. That’s what this business plan review is for.

It’s the role of a good coach to check in on your progress and keep you on pace, so that’s exactly what I’m hoping to accomplish here in this blog.

According to your business plan , the strategies you’ve put in place so far can either:

• Launch you to where you want to be (if you refine them) or
• Send you spiraling into a crash (if they’re left unchecked)

It’s probably fair to say you’d prefer the first one, right? In that case, I’m giving you one of my favorite simple business plan review techniques. All you have to do is get all your numbers ready, pull up your business plan, and answer 20 questions.

Got everything ready? Then let’s get started…

How often should a business plan be reviewed?

Your business plan should be reviewed at least once per year. In today’s fast-paced business world, it’s easy to get caught up in the day-to-day operations and lose sight of the bigger picture. That’s why it’s crucial to schedule regular business plan reviews. Updating your business plan annually helps ensure that your company stays competitive and on track to meet its long-term goals. With so much at stake, you can’t afford to wait until the last minute to sift through all the numbers and make necessary changes. By reviewing your business plan regularly, you’ll be able to identify areas of improvement and make strategic adjustments. Don’t let your business plan become a static document. Keep it alive and thriving by scheduling regular reviews.

Business Plan Review Questions to Ask Yourself

Question No. 1: What’s your WHY? This is something you should already have written in your business plan , but it’s a question worth repeatedly asking not just at the end of every quarter but every day. So look at what you wrote down in December and then ask the question again. Has your answer changed? It’s okay if it has but make the adjustment.

Question No. 2: What’s your role?

Define your job, because your job title defines how you approach both your work and your business plan review. Are you operating as a real estate agent or like the CEO of your company?

Question No. 3: Did you make enough money to achieve your WHY?

Before we dive into any of your actual numbers, let’s establish a monetary value for your WHY. Not everything in life has a price tag: love, peace, honesty… But most things do, or at least money plays a role in them. Maybe you want to pay for your kid’s college. Maybe you want to start investing in properties. So ask yourself if over the last three months you’re on the right track for these goals and what being on the right track would actually look like.

Goals vs. Reality

Question No. 4: Units Closed vs. Goal Units Closed?

Question No. 5: Volume vs. Goal Volume?

Question No. 6: GCI vs. Goal GCI?

Question No. 7: What’s your average price per listing?

Add up the sum total of what all your listings have sold for and divide by the number of listings taken.

Are You Following Your Plan?

Question No. 8: Are you using all the lead sources you said you would on your business plan?

Question No. 9: Which lead sources are you underutilizing?

Question No. 10: Have you put in place the systems you wanted to have by Q2?

Question No. 11: In what ways do you need to adjust your plan to catch up to where you want to be by Q3?

Question No. 12: Expenses vs. Income. Are you staying in the right range?

If not, how far off are you and where is that money going?

Finding Your Personal Metrics

Question No. 13: How many conversations did you have?

Then break this down to how many you had each day, week, and month. Create a daily average.

Question No. 14: How many appointments did you take?

Question No. 15: How many conversations does it take you to get an appointment?

It’s simple division that creates massive predictability for your business. You should know this number and “live it” every day. Remember: Appointments are the only currency that matters today.

Question No. 16: How many appointments does it take for you to convert a listing?

Important Questions to Have Framed in Your Office

Question No. 17: How much money do you make from each conversation you have?

Divide your GCI by the total number of conversations you had. Then take this number and put it somewhere that you and every person on your team can see every day. When you don’t feel like making your calls, just remind yourself that this is how much every call is worth to you.

Question No. 18: What went well for you in Q1 and how can you do more of it?

It’s important to not only focus on where you’ve fallen short, because you’re strengths are what you need to rely on here – which means it’s important to know what they are!

Question No. 19: What do you need to stop doing and leave behind in Q2?

It’s time to strip away all the baggage that’s slowing you down, whether that means it’s time to hire someone or maybe it’s a lifestyle habit that’s getting in the way of your success.

Question No. 20: Are you getting to support you need?

In my 35+ years in this business, I’ve never seen anyone figure everything out by themselves. Even for people who are thriving right now, imagine what you could do if you had professional support to guide you on your journey…

My guess is, you’d learn that you’re not setting your goals high enough. Because we don’t know what we’re capable of until we have a valued mentor bring it out of us, push us to new limits, and show us the blind spots we can’t see for ourselves. So, if you’re ready to take this next step and fully commit to becoming the best version of yourself in Q2 and beyond, self-schedule a free coaching consultation right here . It only takes about an hour and might just change your life.

And if you’re already a coaching member or Sphere subscriber , be sure to watch Kay Fairchild’s webinar on conducting a more detailed quarterly business plan review inside of illūm, where she takes you step-by-step through her own extremely valuable quarterly review process.

Need to create a business plan first?

With access to this on-demand business plan webinar , you’ll gain immediate access to our acclaimed seven-point business plan template, essential tips on fostering the right mindset to conquer today’s volatile market, engaging Q&A sessions, and more insights from Tom Ferry. Don’t miss this chance to arm yourself with the knowledge and tools to thrive. Unlock your access to the full video, business plan template, and more!

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Top 10 Monthly Business Review Templates with Samples and Examples

Mohammed Sameer

Every business is a close-knit web of processes.

When shorn of all the hype or the unwarranted negativity, even the biggest businesses are, essentially, about processes and people working together. 

The processes are perfected over time. For this to happen, however, the management must get an idea of the things that aren’t going according to plan, and why. Finding these loopholes is often tricky. It necessitates undivided attention and a sharp eye to spot an error in business processes. 

This blog highlights the monthly business review templates that build upon extensive research and analysis. Using these PPT Templates, the management of the companies can analyze the situation and draft a new process or tweak already established ways of going about things.

Must-Have Monthly Business Review Templates

A monthly business analysis template or business review template saves users significant time when creating BIA (Business Impact Analysis) plans. Using it, strategies are implemented as planned because the POA (Plan of Action) is clearly defined in such templates.

Template 1: Monthly Review PPT Template

Monthly business reviews can be challenging. With our predesigned PPT Template, you can:

• Assess the performance of your business.
• Focus on critical issues, goals, and objectives.
• Reinforce accountability and action plans of each team and individual.
• Identify and remove barriers.

Download it now.

Get this template

Template 2: Four-point Agenda for Quarterly Business Review PPT Template

This Quarterly Business Review PowerPoint Design is a must-have tool in your arsenal. It breaks down the process into four-point agenda that covers the nitty-gritty of a methodical business review. It explains the KPIs, compares the actual performance against set goals, helps you think from the customer's perspective, and keep him/her happy. Get it now.

Grab this template

Template 3: Monthly Business Review Showing Marketing Performance

Use this PPT Framework to analyze your website’s performance for the last 30 days concerning social media engagement, leads, and conversions. This content-ready PPT Template is completely editable, and you can use it to perform your business’ monthly review with just a few clicks. Grab it now.

Download this template

Template 4: Monthly Project Accomplishment PPT Framework

Present your monthly project accomplishment report without breaking a sweat using this template. It has dedicated sections for project health and timeline. Project health highlights progress and task status, while the timeline emphasizes pending actions and decisions. This template helps ensure your project progress is steady. Download it now.

Template 5: Monthly Business Review Showing Revenue and Expense Breakdown

Revenue is the bloodline of a business and is the doorway to exponential business growth. For that to happen, you need our monthly business review showing revenue and expenses to help structure your next action plan. Track whether you are on the right path with this template. Grab it now.

Template 6: Three-Month Business Process Review and Improvement Roadmap

Deploy our three-month business process review PPT Template and communicate your vision and lay a firm ground for your audience. This slide assists in aligning processes, defining goals, and thoughtfully planning and building solutions that assist businesses in achieving actual growth. Get it now! 

Template 7: Monthly Business Review PPT Slides

Use our ready-to-use template to create an accurate representation of your business health. This complete deck will provide you with detailed information on financial performance, client and project updates, and so on. Get impactful insights into your business performance with our complete deck. Download now!

Template 8: Six-Month Business Process Review and Improvement Roadmap

Obtain your six-month business process review template and conduct an in-depth review of your current methods as well as further analysis of your requirements. Maximize team efficiency and streamline a work plan efficiently by introducing our roadmap theme. Get it instantly.

Template 9: Quarterly Business Review PPT Template

Showcase your quarterly business review with our amazing QBR template ppt and convey your message effectively to your peers. With our slides, use your business review results to provide clients, stakeholders, and others with a better understanding of sales and growth. Enjoy maximum benefits out of this set. Grab it now.

Template 10: Quarterly Business Review Framework

Highlight your business's uniqueness with our quarterly business review framework. This complete deck is inclusive of topics such as economic assessment, company evaluation, organizational study, and the list goes on. You definitely don’t want to miss out on this. Download it right away.

The Takeaway

The month is ending, and your company has met its objectives. Congratulations! When you've finished celebrating, you must decide what comes next. To ensure a repeat performance for the next quarter, use our monthly business review templates. Our template assists you in understanding what your team has recently learned and how you can capitalize on this. It will position your team for success when the leadership team plans goals and projects.

FAQs on Monthy Business Review

What is a business review.

A business review is one of the most underutilized tools in a services company's arsenal. Monthly business reviews highlight new ways to assist clients in meeting their objectives and uncover risks and opportunities you're prepared to address. This also ensures that customer satisfaction and support quality are reviewed in an organized manner.

How do I write a monthly business review?

Here are the guidelines for conducting a Successful Monthly Review:

• Examine your financial records.
• Reevaluate your goals.
• Examine your long-term objectives and strategy.
• Allow time for any company issues to be discussed.
• Establish meeting guidelines at least a week before the review is scheduled.

How do I write a monthly progress report?

• Start with defining the agenda.
• Write a brief description of the project or performance goal.
• The team's project development accomplishments are the most important content.
• Give specifics on the tasks completed by the team during the month.

How do you prepare a quarterly business review?

8 Methods for Conducting Valuable Quarterly Business Reviews:

• Plan the meeting ahead of time.
• Select a moderator.
• Establish a clear agenda.
• Begin with the customer's goals.
• Using data, demonstrate the progress made thus far (emphasize ROI)
• Keep an eye out for new opportunities.
• Plan for the following quarter and schedule the next QBR.
• Save the last ten minutes for open-ended discussion.

Related posts:

• Quarterly Business Review Presentation: All the Essential Slides You Need in Your Deck
• [Updated 2023] 50 Best Company Presentation Templates To Ace The Corporate Ladder
• [Updated 2023] Top 15 Business Performance Review Templates To Transfigure an Effective Reporting Mechanism
• [Updated 2023] Top 10 PowerPoint Templates to Create an Insightful Progress Report

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Lean Business Planning

Get what you want from your business.

Business Plan Execution. Get Specific.

The business plan execution specifics are my favorite part of business planning, and especially lean business planning. This is the real plan, what’s actually going to happen. It includes at least these four elements:

Review Schedule . Make sure you schedule monthly plan review sessions in advance. Think of something like the third Thursday of every month. Even if it’s just you. Click here for more on this.

Identifying and Listing Assumptions . When assumptions change, the plan should change. If you don’t list your assumptions then you don’t know. Identity and list your business plan assumptions so you can refer back to them. It’s the key to knowing when to change the plan and when to stay the course. Click here for more on this.

Milestones . List specific activities, responsibilities, tasks, dates, deadlines, and budgets. We humans work better towards specific concrete goals, like reaching some number, or some event, that we can keep track of. Click here for more on this.

Metrics . Devise specific performance metrics that can be measured, tracked, and managed. These are numbers that people can see and compare. Click here for more on this.

These business plan execution specifics are the key to making a business plan useful. Remember, it’s steering your business that matters.

“Good business plans are nine parts execution for every one part strategy.” — Tim Berry Tweet

“Measure the value of a plan by the execution it causes.” — Tim Berry Tweet

“What doesn’t get measured, doesn’t get done.” Tweet

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Quarterly Business Review: How to extract benefits beyond transparency

Leads our agile work in Central Europe and our Enterprise Agility Center in Budapest and helps institutions across industries to shape growth strategy and transform themselves in the digital age

October 5, 2020 In previous research, our colleagues have outlined the importance for agile organizations to create both stable and dynamic practices . A periodic business review, prioritization of different activities, and alignment across organizational units (frequently called tribes) are often together referred to as Quarterly Business Reviews (QBRs). QBRs can be the cornerstone of an effective agile organization, linking overall strategic direction to agile organizational units and team-level backlogs.

When done well, QBRs can bring immense value to an organization by creating vertical and horizontal alignment. However, inefficiencies often occur due to limitations in the ecosystem around the QBR—even if the narrowly defined process is done well. There are five reasons behind these suboptimal operations:

• QBR ownership: The QBR and the broader ecosystem surrounding it are at the heart of an agile organization and must have a proper owner. This role spans three main activities: managing the QBR process, ensuring proper content quality, and continuously improving the QBR. A dedicated squad is required during QBR cycles, combining agile, IT, finance/budgeting and strategy expertise, and a strong and respected leader.

Broad dependency alignment: During the QBR process, these units set Objectives and Key Results (OKRs) and plan what they will deliver to achieve them. Ideally, a substantial portion of the unit backlog can be delivered autonomously by the owner of the group, while a smaller fraction requires broader alignment. The QBR should serve as a forum to understand those dependencies and resolve them while not making the process highly technical and administrative.

For instance, one LATAM company organizes a quarterly fair where each unit leader presents its initiatives and all other leaders are responsible to challenge them and understand potential dependencies.

Traditional budgeting: Agility brings a paradigm shift in the logic of budgeting. Instead of projects, agile organizations use cross-functional teams as budgeting units. Agile organizational unit leads must assume resources are relatively fixed, and their job is maximizing impact, generated via prioritization. This is important, because if agile organizational units are subject to traditional project and business case-based budgeting logic, then QBRs cannot function properly. If fully agile budgeting is not realistic in the short term, companies can opt for a hybrid approach.

For example, a leading bank uses QBRs to review budget status against delivered business results—and potentially make adjustments in a transparent and fast way during the QBR meeting, if circumstances require.

KPI and OKR misalignment: OKRs are among the most fundamental elements of QBR logic, used by many organizations to set aspirational targets with motivating narratives to rally people behind a common vision. In the QBR, these units must define OKRs from strategic company aspirations. Yet, organizations often struggle to draw a connector line between the newly introduced OKR concept and end-of-year key performance indicators (KPIs).

A Western European bank defined the value driver KPIs for each agile organizational unit and derived OKRs that helped to achieve these relatively fixed end-of-year KPIs.

Disconnect from IT processes: In an ideal agile environment, agile organizational units can release standards and an IT architecture vision. This is rarely the case in large corporations due to legacy architectures and monolithic systems. Given that planning for major monolith IT systems often requires 12+ months, QBRs often need to co-exist with IT release planning.

One European telco solved this by synchronizing the timing of IT release planning with QBRs, and then used them as a complementor forum—refining and breaking down the upcoming portion of the high-level IT roadmap.

Building proper QBR practices and enabling the ecosystem takes time and effort. However, once these pain points are addressed, the QBR can truly act as the nerve center of the organization, transmitting key impulses and strategic signals.

The authors would like to thank Gabor Takacs for his valuable contribution to this blog post.

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What Is Monthly Recurring Revenue (MRR) and How Can It Help You Understand Business Health?

MRR provides deep insight into financial performance, growth potential, churn, and customer value.

Star Jacobs

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One of the most critical metrics for subscription-based and managed services businesses is monthly recurring revenue (MRR). It tells you if your business is growing or shrinking. When managed, appropriately and consistently, MRR will educate and drive some of your most strategic decisions.

In my experience, businesses that prioritize MRR are more agile and less fragile. They can accurately predict future revenue and successfully plan for what’s ahead, whether that means expansion, contraction, or holding steady. I’ll walk you through the basics, including how to calculate MRR, so you can explore ways to grow your revenue streams and increase your business agility.

What you’ll learn:

• What is monthly recurring revenue (MMR)?

Why is MRR important?

5 common types of mrr, how to calculate mrr, ways to grow your mrr, get a full visual of your business in an instant.

Get complete visibility of your pipeline, forecast, and team — with Revenue Intelligence from Sales Cloud.  

What is monthly recurring revenue (MRR)?

While revenue is the total income your company earns, monthly recurring revenue (MRR) is predicted total revenue your business generates monthly from active subscriptions. It includes all recurring charges such as subscriptions, service retainers, promos, discounts, and add-ons, but excludes any one-time fees.

( Back to top )

MRR is a fundamental m etric for subscription-based businesses because it provides insights into financial performance, growth potential, churn, and customer value. Its importance extends across various aspects of your business operations, including strategic planning and investor relations.

Calculating MRR provides several benefits:

• Predictability: MRR helps you forecast revenue more accurately since it represents the consistent income you can expect to receive from subscription fees each month.
• Performance measurement: Looking at MRR over time lets you understand and compare your growth rate. Steady increases indicate positive performance, while declines might signal issues that need attention such as customer churn (subscription or service cancellations).
• Investor confidence: Investors often look at MRR as a measure of the health and stability of a subscription-based business. A strong growth trend can instill confidence and attract investors.
• Budgeting and planning: MRR provides a solid foundation for budgeting and resource allocation. It helps you make informed decisions about where to reinvest in the company. Examples include marketing spend, research and development, hiring, or expansion.
• Customer lifetime value (CLV): MRR feeds into the calculation of CLV, which estimates the total revenue a customer is expected to generate over their lifetime as a subscriber. This metric is crucial for understanding the long-term value of acquiring new customers and setting proper expectations for when customers may churn.

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The following types of MRR are often used together to provide a comprehensive understanding of a subscription-based business’s revenue dynamics, growth, and customer retention efforts. Tracking each type allows you to identify areas of strength and weakness and make informed decisions to optimize your MRR and overall financial performance.

The most common types of monthly recurring revenue are:

• New: This represents revenue generated from new customers who have subscribed to the service within a given month. It reflects growth in your customer base.
• Expansion: This comes from existing customers who upgrade their subscription plan or add additional features or services, leading to increased revenue per customer.
• Contraction: This represents the revenue lost when existing customers downgrade subscription or retainer plans. It reflects the decrease in revenue per customer.
• Churn: This is the revenue lost in a month due to customers canceling their subscriptions. Customer churn indicates the rate at which customers are leaving the service.
• Reactivation: This comes from customers who had previously churned but then returned and reactivated their subscriptions within a given month.

The formula for calculating MRR can vary slightly depending on the nature of your business and how you define your revenue streams, but the high-level formula is pretty straightforward and looks like this:

MRR = Number of active accounts x average monthly revenue per account

Here’s a more detailed breakdown of how to calculate MRR:

• Identify your recurring revenue offerings — all sources of revenue that repeat monthly — such as subscription fees, add-on fees, monthly service charges, or retainer fees (exclude any taxes).
• Count the number of subscribers for each offering.
• Multiply the number of subscribers for each offering by the monthly price of that plan.
• Sum up the monthly revenue from each to get the total monthly revenue. 

For example, if your business offers two subscription plans:

Plan A: $50 per month with 100 subscribers

Plan B: $100 per month with 50 subscribers

You would calculate the MRR as follows:

MRR = (100 x $50) + (50 x $100) = $5,000 + $5,000 = $10,000

So, the MRR for your business in that month would be $10,000.

Other calculation formulas and examples

Depending on the complexity of your business model and data, your calculations may look different. Here are some other useful calculation examples and their basic formulas:

• Net MRR = MRR at end of month − MRR at start of month
• Churned MRR = Number of customers churned × average monthly subscription fee per customer
• Expansion MRR = Number of customers who upgraded × difference in monthly subscription fees before and after upgrade
• Total MRR = New MRR + expansion MRR – churned MRR + reactivation MRR

Remember to update your MRR calculations regularly to reflect changes in your customer base and subscription revenue. While calculating MRR sets the foundation for understanding your business health, the real work is growing it.

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With the help of modern sales tools and emerging technology such as AI, you can streamline your sales processes, improve customer relationships, and optimize marketing efforts — ultimately, driving long-term growth and higher MRR. Regardless of industry, here are some best practices to grow your MRR:

Focus on better lead management: Use a trusted CRM to manage leads effectively by capturing, tracking, and nurturing potential customers through the sales pipeline. Implement lead scoring and qualification processes to prioritize high-value leads who are more likely to convert into paying customers, thereby increasing MRR.

Prioritize personalization

Use data management capabilities to segment your customers based on demographics, behavior, purchase history, and other relevant criteria to meet buyers where they are in the buying process. Personalize your marketing campaigns, upselling strategies, and product offerings to specific customer needs, which can contribute to increased brand awareness, customer trust and higher MRR.

Identify cross-selling and upselling opportunities

Finding opportunities to cross-sell and upsell additional products or services to existing customers is a vital part of increasing your MRR. Analyze customer data to understand their preferences; then use targeted marketing campaigns and personalized recommendations to encourage upsells and expansions. When you upsell successfully and can keep a customer at a higher subscription price, and for longer. — getting a customer to upgrade to a “premium” subscription to access more of your content, for example.

Manage, engage, and support customers

Subscription management tools let you oversee billing, renewals, upgrades, and more, all in one place – a 360 degree view of your customer. They can also help you reduce churn and build stronger relationships with your customers by providing a quick, seamless, and supportive customer experience. By continuously monitoring customer satisfaction rates, you can increase loyalty and maximize lifetime value.

Evaluate your pricing

One way to grow your MRR is to increase the price of your product or service. As long as you stay relevant in the market and provide value to your customers with innovation, attrition of current customers can be avoided. Assess the consequences of upping your prices and test out ways to increase them without losing customers or contributing to churn. For example, you might run a limited-time offer for a new product or service to attract subscribers, like a lifetime member price — a set fee that won’t change over the subscription’s lifetime. Once the offer expires, all new subscribers will be subject to any future price changes. This helps you lock in a bulk of lifetime subscriptions while balancing shifts in the market over time. Another option is to include slight increases over time in longer contracts.

Make the most of analytics and reporting

By using dashboards and keeping tabs on your MRR, you can identify patterns and more accurately forecast your business. Reporting and analytics tools give you insight into your sales performance, customer behavior, and other MRR trends. To help your team grow in the long term, regularly analyze key metrics — conversion rates, average deal size, churn rate, and MRR growth — to hone in on areas for improvement and optimize your sales and marketing strategies.

Track and manage your MRR to drive sustainable revenue growth

Monthly Recurring Revenue is important because it gives you a complete picture of your customers, finances, and growth potential. This key metric enables you to make informed decisions and drive sustainable business growth. Keeping a close eye on your MRR and its components is a crucial step toward thriving in the subscription-based and managed services economy. As this landscape continues to evolve, tracking — and growing — MRR is a strategy businesses must use to improve and innovate their revenue streams.

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Starlet Jacobs is the Sales Director for Endiem, which is headquartered in Houston, Texas. She supports Manufacturing, Construction, and Energy enterprises through their Digital Transformation and continued innovation. She holds an MA from the University of Colorado, Boulder.

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Prediction of normal Monsoon positive for easing price pressures: FinMin in monthly economic review

Amid the raging employment debate amid the poll battle, the finance ministry said that present job trends in india are "reassuring.".

• Updated May 24, 2024, 6:57 PM IST

The Finance Ministry, in its monthly economic review, said that the prediction of a normal Southwest Monsoon also augers well for food production and easing of price pressures in the coming months.

"The prediction of a normal Southwest Monsoon augers well for food production and easing of price pressures. With the assumption of a normal monsoon, the RBI forecasts a 4.9 per cent retail inflation for FY25’s first quarter. The positive indications in the farm sector should help India firewall against any adverse pressures that may arise from geopolitical tensions and global commodity prices. Likewise, the strong macro-economic buffers of India should help the real sectors of the economy navigate the external headwinds smoothly and continue the growth momentum of the previous year," the ministry said in its note. 

In its March economic review, the Finance Ministry said it is expecting further easing of food prices as India Meteorological Department (IMD) has predicted above-normal rainfall during the monsoon season.

The April review also highlighted India's ability to deal with adverse pressures from geopolitical tensions, while continuing to make progress on its growth numbers.

"The positive indications in the farm sector should help India firewall against any adverse pressures that may arise from geopolitical tensions and global commodity prices," the Finance Ministry said.

Amid the raging employment debate amid the poll battle, the Finance Ministry said that present job trends in India are "reassuring." "While the urban unemployment rate declined y-o-y during the quarter ending March 2024, the labour force participation rate and worker-to-population ratio have improved," the ministry noted. 

Talking about inflation's trajectory, the ministry said going forward, it would be influenced by several factors, including government initiatives, open market sales, monitoring of stocks, import of pulses, and export restrictions.

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Microsoft Copilot vs. Copilot Pro: Is the subscription fee worth it?

Microsoft's Copilot tool is already freely available as a dedicated webpage, mobile app, and built-in Windows tool, offering quick and easy access to an AI chatbot that will answer your questions, generate content, and create images. But Microsoft upped its game with a Pro version of Copilot that kicks in more features and better access for $20 per month.

Also: Microsoft adds Copilot Pro support to iPhone and Android apps

The free flavor offers the following features:

• Copilot use on the web and in Windows, MacOS, and iPadOS.
• Access to GPT-4 and GPT-4 Turbo during non-peak times.
• Upcoming access to GPT-4o .
• Use of text, voice, and images in conversational search.
• Ability to create and edit AI images with 15 boosts (15 images) per day with the Designer tool.
• Ability to use plug-ins and shared GPTs.

Also:  How to use Image Creator from Microsoft Designer

The Pro version kicks in several additional benefits:

• Faster performance and priority access to GPT-4 and GPT-4 Turbo during peak times.
• Copilot availability in core Microsoft 365 desktop and web apps (Microsoft account required).
• Faster AI image creation with 100 boosts (100 images) per day using Designer .
• Ability to resize AI-created images between square and landscape formats without leaving Designer.
• Ability to create and share your own custom and tailored Copilot GPTs via a Copilot Builder tool .

Beyond using Copilot Pro at the Copilot website through any browser, you can launch it directly in Windows 10 or 11. Simply click the Copilot icon on the Taskbar. The Pro flavor is also accessible in the iPhone and Android Copilot apps . You can use Copilot Pro with a Microsoft 365 subscription in Windows, MacOS, and iPadOS. And you can even tap into the Pro flavor with the free Microsoft 365 apps on the web .

You should use Copilot free if…

1. you don't use microsoft 365 on the desktop or on the web.

For most people, the main advantage of Copilot Pro is the support for Microsoft 365. This means you're able to use AI to create and edit text and perform other advanced tasks in Word, Excel, and other apps both in the desktop suite and on the web. If you don't use any of the Microsoft 365 apps, then the other benefits by themselves probably aren't enough to justify the $20-per-month price tag.

2. You can get by with GPT-3.5 and non-peak use of GPT-4

GPT-4 offers some clear benefits over GPT-3.5, including faster and more accurate responses, longer prompts, a better understanding of context and nuance, greater creativity, the ability to solve complex problems, and fewer biased responses and hallucinations.

Also: ChatGPT vs ChatGPT Plus: Is it worth the subscription fee?

You can access both GPT models through the free version, though you may not be able to use GPT-4 during peak load times. In that case, Copilot will drop down to GPT-3.5. For many people, however, the sporadic GPT-4 access should suffice.

3. Your image generation needs are modest

Using the built-in Designer tool with DALL-E 3, Copilot is able to generate images based on your text descriptions. The free flavor limits the number of images you can generate, granting you 15 boosts (15 images) per day. If you don't need more, then the free flavor of Copilot will work just fine.

4. You already subscribe to ChatGPT Plus

ChatGPT Plus duplicates some of the benefits of Copilot Pro and throws in extra features such as the GPT Store and the ability to create your own custom chatbots. If you already pay $20 per month to subscribe to ChatGPT Plus , there's not as much reason to also subscribe to Copilot Pro. Save yourself some money and stick with the free Copilot flavor.

You should use Copilot Pro if…

1. you use microsoft 365 and want generative ai assistance for the apps.

With its AI skills, Copilot Pro will help you write and edit text and summarize documents in Word, generate formulas and analyze data in Excel, create presentations in PowerPoint, compose text in OneNote, and draft replies and organize your inbox in Outlook. If you use Microsoft 365 on the desktop or on the web and those AI smarts will help you write, create, and work faster, then Copilot Pro can easily be worth the price.

2. You rely heavily on GPT-4 and GPT-4 Turbo

With the Pro edition of Copilot, you won't get saddled with GPT 3.5, even during peak times. Instead, you can switch between GPT-4 and the latest GPT-4 Turbo model. 

If you use GPT-4 heavily and frequently throughout the day and require fast and reliable access all the time, then Copilot Pro gets the nod over the free version.

3. You need to generate a lot of images

While the free Copilot limits the number of images you can generate to 15 per day, the Pro version allows as many as 100. Plus, the image creation tends to be much faster. If you need to create batches of artwork, logos, and other images as part of your job, then you won't run into as many roadblocks with the Pro version.

Both the free and paid versions of Copilot let you edit your images inline without leaving the Designer tool. Copilot Pro goes a step further by allowing you to resize and regenerate images between square and landscape formats.

Also: The best AI image generators

4. You don't subscribe to other premium AI services

Depending on your job and workload, a paid AI service can help you be more productive. If you don't already subscribe to ChatGPT Plus, Google's Gemini Advanced , or a similar service, then Copilot Pro could be just what you need. And remember, you can always try it for a month and then decide if you want to continue or cancel.

5. You'd like to create your own custom Copilot GPTs

With Copilot Pro, you're able to create and configure your own Copilot GPT chatbots . You might try this if you want to design a niche and unique GPT devoted to a specific skill or resource. Using the Copilot GPT Builder, you can either chat with Copilot for AI-infused assistance or manually give your GPT a name, description, and instructions. When done, you can preview your GPT to make sure it works and then either restrict access just to yourself or make it available to anyone with whom you share the link.

Now, let's look at how and where to access the free and paid editions of Copilot.

Free version access at the website

To access the free version on the web, browse to the Copilot webpage . Choose a conversation style and then type your question or request at the "Ask me anything" prompt. On the right, you should see specific Copilot GPTs, including Designer for image generation, a vacation planner, a cooking assistant, and a fitness trainer. The website also offers access to Copilot plugins, such as Instacart, Kayak, and Open Table.

Free version access in Windows

More easily, click the Copilot icon on the Windows 10 or 11 toolbar. A similar interface appears where you choose the conversation style and then dive into your questions.

Free version access in the mobile apps

To use Copilot on your mobile device, download the app for iOS or Android. Choose your preferred conversation style and then submit your requests.

Paid version access at the website

To sign up for the paid version of Copilot, browse to Microsoft's Copilot Pro webpage . Click the button for Get Copilot Pro. At the subscription page, confirm your payment method, and then click the Subscribe button. 

Also: This iPhone app fuses AI with web search, saving you time and energy

After the payment process finishes, click the "Get started" button. You're taken to the Copilot webpage where you'll see Pro as part of the Copilot logo. The Copilot GPTs and plugins are all accessible in the Pro model.

Paid version access in Windows

After subscribing on the website, log back into Windows 10 or 11. Click the Copilot Taskbar icon, and the Pro version will pop up.

Paid version access in the mobile apps

Open the iOS or Android Copilot app and you'll see that Pro is now part of the logo, indicating that you're tapping into your Pro subscription.

Artificial Intelligence

Copilot pro vs. chatgpt plus: which is ai chatbot is worth your $20 a month, chatgpt vs. copilot: which ai chatbot is better for you, what is copilot (formerly bing chat) here's everything you need to know.

Economy | PG&E customers face more increases in…

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Economy | pg&e customers face more increases in monthly utility bills: new state proposal, pg&e eyes more revenue to connect new customers and serve existing ratepayers.

In the wake of growing complaints over what critics say is PG&E’s sluggish pace of energizing residential and commercial buildings, a bill authored by state Sen. Josh Becker, a Democrat who represents parts of Santa Clara and San Mateo Counties, directed state regulators to come up with an average and maximum period for utility companies to complete an energy connection for a property.

Becker said in a state Assembly committee hearing last year, “Californians are experiencing extreme delays in the time it takes for utilities to complete these energization projects — From six months, even up to one or two years.”

Now, two state hearing officers with the Public Utilities Commission, which oversees PG&E, have issued a proposal representing the first step of a process that could trigger steeper monthly bills for customers. Exactly how high bills — which as of January were approaching $300 for the typical residential customer who receives electricity and gas services — might go is not yet clear.

The proposal sets up a tug-of-war over how much of a burden existing ratepayers should bear to finance Oakland-based PG&E’s efforts to link new residential and commercial customers to the power system.

The big question is who should pay for these connections within the mandated amount of time — and how much should be paid.

“To reduce greenhouse gas emissions, PG&E’s electrical distribution system must be substantially upgraded to allow new customers to be promptly connected to the electrical distribution system and allow existing customers increasing their load to have their service level promptly upgraded,” the state administrative hearing officers wrote in their proposed decision.

The proposal — which noted that PG&E and consumer advocates such as The Utility Reform Network have submitted their own ideas about what should be covered — also says that proactive planning, engineering and construction would be needed so PG&E could promptly provide electricity to future customers.

Loretta Lynch, a former member of the powerful five-member, governor-appointed PUC, thinks it makes sense for customers to help foot the bill for some of the basic costs PG&E will incur to comply with whatever standards the PUC crafts by year’s end.

But PG&E wants to include some expenditures that aren’t directly linked to the basic connections, according to Lynch.

“It would be like if you go to a car mechanic to replace a radiator, but the mechanic also wants to charge you for new tires, a new paint job, new doors,” Lynch said. “This is classic PG&E. They are trying to stuff all sorts of costs into this proceeding that shouldn’t be there. Buying land, building substations.”

The proceeding arrives at a time when California politicians, facing a housing crisis, are under pressure to find ways to get housing projects completed and occupied.

“The demand for housing in California means a lot of homes and apartments have to be connected to the grid,” Lynch said. “But now there is a huge backlog to connect that housing to electricity. You can’t move homeless people into supportive housing without an electrical connection. It’s not just businesses, it’s also housing.”

The bottom line is it appears likely that electricity demand will only increase. PG&E says that might actually help keep monthly bills in check.

“This type of electrification work and increased electrical usage by customers ultimately can put downward pressure on rates by spreading the costs over a larger number of customers using more electricity,” Mike Gazda, a PG&E spokesperson, said in comments emailed to this news organization.

PG&E Chief Executive Officer Patricia Poppe recently told this news organization the company sees prices “falling in the future,” possibly as early as next year.

The notion that prices will fall runs counter, however, to the economic theory that, if demand increases, the supply or availability of a service or commodity typically must also increase just to keep prices stable. And consumer advocates are not convinced a drop in bills is coming.

Lynch urged the PUC to ensure that the current case associated with the hearing officers’ proposal doesn’t enable PG&E to harvest too much money from customers.

“PG&E wants a closet full of shoes, and it wants the customers to pay for all those shoes,” Lynch said. “PG&E should only be paid for the one slipper.”

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Understanding loan forgiveness options

How to qualify for student loan forgiveness, your guide to student loan forgiveness.

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• You can't get forgiveness with private student loans, unlike with federal ones.
• Certain federal student loan holders are eligible for forgiveness, such as nurses and teachers who meet specific requirements.
• Income-driven repayment plans offer forgiveness for a remaining balance after the payment term is up.

Public Service Loan Forgiveness (PSLF)  

Public Service Loan Forgiveness is a loan forgiveness program meant for those working in certain government or not-for-profit organizations. PSLF will be applied to the remaining balance that eligible borrowers have on their Direct Loans. Eligibility kicks in if you're working full-time for an eligible employer, and after the equivalent of 120 qualifying monthly payments have been made.

Teacher Loan Forgiveness (TLF)

The Teacher Loan Forgiveness program is designed for educators who don't have an outstanding balance on Direct Loans or Federal Family Education Loan Program (FFELP) loans, have been employed full-time for five consecutive academic years, have been employed at an elementary or secondary school, or educational agency serving low-income students, and lastly, the loans you're seeking forgiveness for must be from your minimum of five years of teaching.

Income-Driven Repayment (IDR) Forgiveness

An IDR plan restructures and bases your monthly student loan payment on your income and the size of your family, with the goal of setting up lower monthly payments. Under an IDR plan, at the end of your repayment term, any remaining balance will be forgiven.

Nurse Corps Loan Repayment Program

The Nurse Corps Loan Repayment Program (NCLRP) forgives educational debt for registered nurses, advanced practice registered nurses, and nurse faculty members.

Those who receive an award must have worked for at least two years in a critical shortage facility, or an eligible nursing school as a faculty member.

Perkins Loan cancellation and discharge

If you're an educator with a Federal Perkins Loan, it's possible to get 100% of your loan canceled incrementally. The following jobs are eligible for loan cancellation, under certain conditions:

• Elementary or secondary school teachers
• Special education teachers
• Preschool or Pre-K teachers
• Other educators
• Law enforcement
• First responders
• Nonprofit workers
• Those in the Military
• Health care workers
• Those who work with people with disabilities.

You may be eligible to get your Perkins Loan discharged if you've gone through any of the following life events:

• Certain types of bankruptcy
• School closure before you completing your program of study
• Total and permanent disability

Understand the specific requirements of each program

Every loan forgiveness program is different, and set up for different borrowers in different situations. Compare your options to identify your strongest chance for loan forgiveness.

Verify your loan eligibility

Even if you are in an eligible role for any of these forgiveness program, that doesn't mean the type of loan you have is eligible for loan forgiveness. 

Stay on top of your payments

For certain programs, such as IDR and PSLF, you are only eligible for loan forgiveness if you're up to date on your payments and your account is in good standing. 

Keep accurate records

To prepare your application and any questions the lenders may have, be sure to have all important documents on hand. That includes your employment verification, social security information, and other personal credentials. It also means keeping a record of your paystubs, payment history, and other relevant documents.

No, not all student loans are eligible for all programs. Be sure to check program details carefully.

The limit on how much student loan debt can be forgiven is entirely dependent on the program. PSLF, for example, may forgive the entire remaining balance.

Generally speaking, you have to pay taxes on forgiven student loans. Consult a tax advisor for specific details.

Private student loans are rarely forgiven, unless otherwise handled through specific employer programs. Most forgiveness is for federal loans.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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