Business Plans And Marketing Strategies -- How to Do a Mid-Year Review
As the year passes through the midpoint now is a perfect time to review how you've been doing and what it takes to achieve or even exceed your goals for the year.
And one of the best ways to do that successfully is to arrange for some breathing space away from daily distractions. Create a summer retreat for yourself where you get to reflect on the past as well as envision and plan for the second half of the year.
How much time should you take? Anywhere from a couple of hours to half a day, or maybe even all day if you can.
Take yourself to the beach, the park, or your favorite cafe. The only "rule" is that you should pick a place that puts you in a good mood and where you will enjoy spending a few hours. Be sure to bring your biz and marketing plans your created last December or January, pens and a notebook, and maybe a laptop. And if you're not at a cafe or a similar place, bring a picnic basket as well.
Once you've settled in, enjoy the scenery for a while. And then, start by reviewing the last six months.
You can begin by asking yourself a few general questions to get a sense of how things have been going. Are you happy with what you've accomplished so far?
If you're happy, great. Focus on what's been working well and do more of that.
If you're less than happy or even quite disappointed, now is your chance to make the changes that will get you back on track.
Next, take out your goal statements and other planning tools that you created and used to plan out the year back in December or January. You did that, didn't you?
If you haven't, take an extra half hour and reflect on what you wanted to accomplish this year and write it down.
Then, go over each of the points and compare where you are now with where you were projecting you'd be. Are you on track? Have you accomplished what you planned?
Or are you woefully behind?
No judgment. Leave out the could of's and should of's. Just take down the facts so you know where you stand.
And then, get down to business.
Consider where you are now, decide what you want to achieve by New Year's Eve. Make a detailed list and think about what it will take to get there.
How far do you have to go, and how are you going to get there?
In which areas are you on track, and in which ones do you have a lot of catching up to do?
How are you doing in terms of revenue... profit? Are you on track, or are you falling short?
Do you need more customers, or do you need to charge more or reduce your expenses? Are you working too many hours? ...or not enough?
Do you have a plan, or are you winging it?
How can you improve things?
Go down your list of goals and figure out what areas need more work, and where you're doing just fine.
Then make a plan and schedule specific and trackable activities that will get you on the fast track to accomplishing your goals.
If you want a different result that what you have, now is the time to make changes! To quote one of my favorite Albert Einstein quotes...
"Insanity is doing the same thing and expect different results."
To finish your planning session, write a note to yourself a year from now, projecting what you will have accomplished by then. Finally, pat yourself on the back and treat yourself to a nice lunch or dinner before you head back to work.