Article | 2:27 min read

Complete Your Mid-Year Business Review

Grow Your Business

Now that the beginning of the year has passed and you have had time to put new plans in motion, it is time to review your progress. Find your management team and gather your goals for the year; it’s time to review.

Schedule the time
Since going over your business goals is no small task, make sure you have the time to thoroughly go over your progress. If you have a team assigned to establishing and maintaining goals, align your schedules for the best chance to meet. If you are the sole enforcer of goals, try and have someone else with you, whether they are part of the business or not. Having another individual close by can help bring in other opinions as well as views you might not have thought of on your own [1].

Start with the positive
Before you begin to tear apart your business for all of the things that you aren't doing correctly, identify the positives. Ask yourself what you're most proud of so far and what some highlights have been. Celebrate the good things about your business so you have something to remember when you are analyzing the bad [1].

Review your goals and progress
Analyze your goals against what you've actually accomplished. Consider employee contribution and the length of your projects. Compare results to the criteria you set at the beginning of the year. Determine whether or not your current progress is on track or not. If not, then you can identify the problems to better plan the solution [2].

Revise goals
Ask yourself whether certain goals are necessary anymore. If you feel they aren't, then you can cross them off you list and move on. If they are, walk yourself through the following questions: [1]

  • Are you on course to achieve this goal by the end of year?
  • What has been your progress so far?
  • What has been working?
  • What has not been working?
  • What adjustments need to be made in order to achieve this goal?
  • What, in your thinking, do you need to change?
  • What, in your behavior/actions do you need to change?
  • What resources, people, and outside support can help you? [1]

Goal maintenance
Once you figure out what you need to change and how you're going to do it, you need to make a plan to enforce it. With the hustle and bustle of the workweek, it can be easy to forget everything you wanted to achieve. Decide whether you want to have a monthly or weekly meeting to discuss goal progress. Determine how you will measure development on goals to better track their progress. Remember that breaking goals into steps can be less intimidating and can make it easier to track growth [2].

End on a positive
After the grueling experience of tearing your business apart, come back to the positive note you began on. Comment on your biggest takeaways and praise the successes you've have so far. Be aware of the things that you can improve upon and head into the next half of the year with your head held high [1].

[1] 7 Steps for Completing a Mid-Year Business Checkup, Bigger Pockets
[2] 8 Steps to Performing a Mid-Year Goal Check, TriNet


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