Halfway Through '22 - Time to Review

 

There are at least 4 points in the year when you should stop everything and review how your business is doing. Of course it's at every end-of-quarter time! But it's especially important to tackle this at the end of the year and at the mid-point of the year. Why now? Because you want to ensure that you can change course or add any services or ideas to end the year with as much profit as possible. Here are 4 things you should review right now!

1. Goals

Get out that list of goals that you set at the beginning of the year and look them over. Have you hit some of them (YAY, YOU!)? Are there some that you'd like to change or modify? This is the time to celebrate any goals that you've smashed - that will get your confidence and excitement WAY up so you can keep cooking all year long. And it's a GREAT time to change things up or add new goals. Nothing says you have to keep the same list you started in December or January. A LOT has changed since then. So look at that list and decide what you might want to toss or add to your goals.

2. Marketing

If you'e been super-busy this year, that's AWESOME! But we all know that this business can be a serious rollercoaster ride. To keep from hitting a major valley, you want to market your business, even when you are running on all cylinders! Sit down and review your social media, your networking, any advertising, direct mail, email campaigns, and any other marketing. What's working? What do you need to change? No matter what, though, keep that marketing going!

3. Profit Margins

Of course this is also the best time of year to look at all of your financials. And I know that may not be fun, but it is CRITICAL to finishing the year on a high. You need to know how your cash flow looks, which services are giving you a better return, and the best place(s) for you to stash some money. Yes, you should be socking away some savings because that scary recession word is being used for 2023. Better safe than sorry, RIGHT?!? Get that financial review underway and you can sleep better knowing that you're ready for whatever comes!

4. Systems & Procedures

If you've been going a mile a minute all year, you've probably let some things fall through the cracks. Take the time to review every single step of your design process, including timelines and client touchpoints. The more efficient and effective you can be with your systems and processes, the more money you're going to make. And you'll finish projects with very happy clients, which will help that all-important grassroots marketing! And remember that I can make this step VERY easy for you - all you have to do is order my Return on Interiors system and everything is done for you! It will seamlessly guide you through the process of getting your business processes in place so your business runs the way you've always wanted it to!

And I have one more thing that will help you with your mid-year review! Download my Mid-Year Business Goal Worksheet to help you review what you've accomplished and what you want to add or change!

Set a day in your calendar and start on these 4 steps - you'll thank me at the end of the year!

xoxo,

Kathleen

PS. Don't forget to let your voice be heard! Take 10 minutes to fill out the 2022 Interior Designers Survey on Fees, Salaries and Competing for TalentAnswer this survey and get your complimentary report about the state of this industry and how it is being impacted by labor changes, inventory costs, and fees hikes!