4 Essential Things to Review at Mid-Year
How has your business performed so far this year? Are you ready to finish the year strong?? These are questions I always ask myself every single July. WHY? Because this is the perfect time to course correct if you need to. You still have time to put new plans in place and to find new clients. It's also the summer months, when our clients are (usually!) less demanding and you have more time for a good review. And you should already have a really good idea of how your year is going. So set aside time - blocked on your calendar - and review these 4 essential things!
1. Review the Year So Far
Grab the Mid-Year Review Workbook. Fill it out with EVERYTHING you can. Would you like more business this year? Then you know you'll need to focus on marketing. Do you feel burned out and pulled in 10 directions? Then you may need better processes and systems, or maybe even a new assistant. Looking critically and honestly at what your business has done over the last 6 months lets you design the right path forward so you can either continue with even more success, or you can turn things around and make 2023 a fantastic year!
2. Review Your Goals
When you were in that "shiny New Year" mode and you set your goals for 2023, you had no idea of what the year was going to bring or how things might change. So NOW is a great time to look at the goals you set and to decide if you need to scrap any of them, change them, OR keep pushing toward success. And it is completely ok to decide that some goals aren't as important or that others have become something you really want to achieve. THIS is the time to give them a hard look and to change things to keep your company on track.
3. Review Your Finances
Even if you've had a challenging year so far and you don't really want to look at the numbers, mid-year is the right time for a financial review. And I don't just mean your P&L and your cash flow. You need to take a hard look at your profit margins, your fees, and how you markup product. Every detail of your finances needs to be examined. You have plenty of time to change things up, to raise your fees, and to set a new service or product to bring in more money this year. But you have to understand EXACTLY where you business is right now in order to make those changes. Oh - and be sure to tune in next week! I'll be talking about margins and markups in that blog post.
4. Create Action Items
Now it's time to review your to-do list. I don't mean that daily log that's about 5 miles long! I'm talking about a concrete list of tasks that will help you end this year with a BANG. You want to have some action items that will lead you toward each goal that you're focusing on. Set those action items so you have a few each month, rather than trying to do everything at once. That NEVER works. And stick to the schedule so you make real progress towards your goals!
To help you with your tasks, download my FREE Guide for a Mid-Year Business Review!