Is it Time to Adjust Your Company's Course?

Small and Medium-sized Enterprises (SMEs) represent the overwhelming majority of the business fabric in Portugal. Typically, they are family businesses or businesses that depend directly on the energy, dedication, and constant attention of their founders and managers. For this reason, many entrepreneurs end up absorbed in a continuous cycle of urgencies, emergencies, and daily worries. SMEs, by their nature, have limited resources, small teams, and constant challenges that make it difficult to find time or even justify the need to stop and think. The result? Often, these entrepreneurs become emotionally overwhelmed, feeling there is no space to breathe, reflect, or clearly define the strategic direction of their business.

But it is exactly this strategic pause—stopping to work on the business, instead of working in the business—that can make all the difference between survival and sustainable and profitable long-term growth.

We have reached the end of the first quarter of 2025. Time flies and, with it, important indicators emerge that deserve the attention of any attentive and dedicated entrepreneur. Most entrepreneurs spend their days immersed in operational tasks, putting out fires and solving immediate problems. The consequence? Little or no time is left to look strategically at the business. Just as a commander regularly checks the route of their ship or plane, making small continuous adjustments, the entrepreneur must also stop regularly to reflect and ensure that the company remains aligned with the initially defined objectives and course.

At the end of the first quarter, we already have enough information to evaluate our direction and ensure we are on the right track or identify necessary adjustments. Therefore, it is time to stop, analyse, and reflect deeply.

Here we present ten key questions that will help you carry out a deep strategic review, allowing you to adjust and optimise your business's course:

Achievements and Learnings:

1. What were the main achievements of this quarter?
   Think of internal achievements such as team improvements, profitability increases, or external ones such as awards, recognition, or new clients won. What were the learnings associated with these victories? What practices or strategies contributed to this success?

Challenges and Opportunities:

2. What challenges did we face this quarter that still need attention or solutions?
   Clearly identify the obstacles that have not yet been overcome and the opportunities that arose from these challenges. What changes need to be made to transform these challenges into opportunities?

Keep, Improve, Stop, Start:

3. Which strategies or actions worked well and will we keep?
   Evaluate what is clearly bringing positive results. These are the habits and strategies that should be reinforced and maintained.
4. What can we improve, perhaps through technology, automation, or process adjustments?
   Clearly identify areas where it is possible to do more with less effort or resources, thus increasing productivity.
5. Which actions or initiatives do we need to stop immediately because they are not bringing sufficient results or value?
   Often the most important action is deciding what to stop doing to free up time, energy, and resources for more productive activities.
6. What new actions do we need to implement right in the next quarter to ensure continued success?
   Clearly define new strategies, actions, or routines that need to be introduced to improve future results.

Projection and Objectives:

7. Should we keep the objectives initially defined for the year?
   Critically evaluate whether the defined objectives remain realistic, relevant, and ambitious given the current context.
8. If so, what concrete activities ensure that these objectives will be achieved?
   List clearly the daily, weekly, or monthly actions that will ensure the proposed objectives are reached.
9. Can we increase these objectives by implementing new strategies or increasing effort in key areas?
   Evaluate the possibility of challenging your team even further, introducing new strategies or intensifying efforts in specific areas.

Personal and Professional Growth:

10. What do I need to learn or develop personally to take the business even further in the next quarter?
    Identify specific skills or knowledge that need to be acquired or deepened for the next level of growth.

Always remember that lasting success does not depend on a single isolated action, but rather on the compound effect of multiple consistent and well-guided actions over time. By regularly investing time to reflect on your business's course, you are ensuring a path of success and sustainable growth. Take this strategic pause now and follow the course to success with renewed confidence. And remember that this reflection can be even more productive if carried out together with other people who know the challenges of managing an SME well—whether they are business friends, an experienced mentor, or a specialised business coach. The important thing is not to make this journey alone.

Learn more about Action Coach Portugal