Once you have the running record anaylsis, you need to make some decisions on the focus of your small group reading instruction. It is easier to target your instruction to what the reading assessments pointed out as weak areas for this group of students.
If the running record analysis shows that more phonics instruction is needed, then you can do activities such as building words, recognizing word patterns, and rhyming word lists in small group reading instruction.
If the assessment shows that more reading comprehension practice is needed, you can have students draw pictures of what they see when they read, retell small sections of a story instead of the whole story, and learn to make personal connections between their lives and the character's lives in the stories.
Before you take class time and planning time with these reading assessments, make sure you know how to use running records to guide your reading instruction.