At some point, either formally or just in thought, you set an intention for what you wanted 2017 to mean in terms of your business.
You now have six months you can reflect back on and evaluate. Where are you, in relationship to where you want to be? It’s time for your Mid-Year Business Review!
When we walk our clients through the Snapshot Business Planning process, we focus on the eight different facets of the business when setting goals. The same should be considered when reviewing and evaluating. They include:
- Products and Services
- Team Growth and Development
- Sales Systems
- Customer Retention
- Technology and Equipment
Start with the Financial facet – your numbers. This may be a certain number of units of product sold, a total dollar volume achieved, new subscribers to your marketing, size of follower base on social media channels, or all of the above. Look at what you wished to achieve. Are you beyond, in line with, or behind where you intended to be when the year began?
If you’re beyond, does that change the goals you want to achieve in the second half? Would you like to achieve more, or does it allow you to put more resources aside for future business growth or retirement and recreation goals personally? If you’re behind, what changes need to be made to the plan in various facets to ensure you get back on track? Should there be a downward adjustment of any goals, and if so, how does that impact decisions you previously made in other facets?
Look at each of your eight facets and ask yourself these questions:
- What worked in this particular area of the business so far this year? Should that action be continued as is, or tweaked in some way?
- What didn’t work? How might it be changed to potentially generate a different outcome?
- Which of the “didn’t work” items should just be dropped?
- What new actions are worth committing to now, based on what’s happened to date?
Whatever changes you decide on, be sure to set timelines for completion, and clearly communicate with the people you expect to help implement the actions. Then put accountability systems in place to inspect what you expect.
Taking the time now to do this evaluation thoroughly will pay you dividends in the coming months. Block the time on your calendar and make it happen.
If you need assistance in committing to this process, we are here to help you do the evaluation, identify the adjustments and get moving on the priority items to be achieved before year end. This is exactly what we would LOVE to do for your business.
CEO & Founder, McLean International LLC
Speaker, Author and Certified Coach
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