Taking the time to do a mid-year review will help you operate with more clarity
The first half of the year is in the history books. So, now is the time to stop and do an effective review of your business before you move forward! The benefit of pausing and reflecting on the past 6 months is to provide you with insight for better results as you lead your business into the final half of the year.
Business planning isn’t a static, once-a-year activity; it’s a process. So, dive into this article and make the time to truly evaluate, adjust your sails and point your bow to success for the rest of the year.
Your Mid-Year Business Review and Recommitment
It’s time for a check-up!
At some point, either formally or just in thought, you set an intention for what you wanted 2021 to mean in terms of your business. You now have 6 months that you can reflect on and can evaluate how well your business has done. Where are you in relation to where you set out to be at the beginning of the year?
Let’s hope you took the time to do a well-organized business plan for the year back in the fall or at least the beginning of this year. As a Leader, when you create consistency with your planning, you and your team can dial in faster to identify the areas that require instant change and/or purposefully planned out goals. The combination of this will indeed support you and your team in achieving your goals.
In my coaching and noted in my book Snapshot Business Planning, I recommend that you review 8 key facets. They are:
- Products and Services
- Team Growth and Development
- Sales Systems
- Customer Retention
- Technology and Equipment
Firstly, ensure that you schedule adequate time to address each of the facets by asking the following questions. I encourage you not to try to do this review on the fly because you need to take the time to truly ascertain what changes are needed.
A) What worked in this facet of the business so far this year? Should this action be continued as is, or tweaked in some way?
B) What didn’t work? What needs to be changed to generate a different outcome?
C) What are the new or revised goals and action steps that need to be committed to?
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. Remember to clarify your expectations, receive feedback that your expectations are clearly understood, and then put an accountability system in place to measure the progress.
As I have always said, a Great Leader is NEVER shy to inspect what they expect.
There are many different ways to tackle your Mid-Year review.
- You can facilitate the process yourself, however, if you do this, please ensure you don’t allow distractions to pull you away from this very important review of your business. Block out time on your calendar and make it happen!
- Schedule a Virtual Session – Mid-Year Review program with or without your team/staff.
- Schedule a one day Mid-Year Review program at your office, either with or without your team.
- You can also get support from a coach like myself. I am happy to do a 15 minute Complimentary Strategy Session to provide you with some tips on ways to manage and execute the mid-year review process yourself.
At McLean International, our mission is to help people reach their next level of living professionally and personally through strategic planning and processes. We developed this eBook, 5 Key Steps to Achieve Business Growth and Stability to give you a jump start on growing your business to the Next Level, whatever that looks like for you.