Here it is, June already. That means it’s time for your six-month business checkup. You developed a great plan for 2015 and how have two quarters of execution behind you. Now is the time to pause for review, reflection and any needed adjustments. Your midyear analysis is a key driver in making sure that you’re on track with your goals.
Are you shooting at the right targets?
“You cannot change your destination overnight, but you can change your direction overnight.”
These are the words of the late Jim Rohn, entrepreneur, author and motivational speaker, as he discussed successful annual business planning. What top priorities did you set for 2015? Midyear is an optimal time to look at the numbers and see what progress you’ve made – and then redefine specific targets if necessary.
- Begin with the end in mind. This is critical to successful planning. If you haven’t already done so, create an end-of-year description of success. (If you did this in January, great. But take another look at it.) From here, you should be able to determine the right targets and identify the initiatives you need to accomplish in order to hit them.
- Does your forecast need to change? If so, adjust your targets and add or remove initiatives as needed, so you’re ready to go full steam ahead in Q3 and Q4.
- What obstacles stand in your way? You may not have seen them coming when you developed your original plan. Identify them so you can start, stop or keep them. Starting means beginning action steps to achieve desired results. Stopping means eliminating things that aren’t working. Keeping means maintaining initiatives that are going well and may need to be accelerated.
- Pay special attention to the “stops.” This will help simplify your plan going forward. If you have fewer priorities, you’ll have a higher probability of getting them all done.
Are you working on the right things?
Be sure that your revised plan includes SMART (specific, measurable, achievable, realistic and time bound) goals. Place added emphasis on being realistic. Don’t overload the second six months of the year with tasks and projects in order to make up for lost time.
- Check your KPIs. Key performance indicators measure your progress as you drive towards better results. Take time to celebrate all you’ve accomplished up to this point. If you’re not on target, reevaluate and get back on track.
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