Mid-Year Business Check-up
Time seems to disappear when you’re hard at work! It’s June 2013 already, and it’s that time of the year when reviewing the performance of your business-past over the last 6 months will be an investment in your business-future.
This is the perfect opportunity to take a few minutes out of your day to see whether you’ve met your business goals, whether you’re on the right path, and whether there are a few time- and money-saving changes you can make for an overall improvement.
Your mid-year check-up should pose the following success-activating questions:
Is your business where you want it to be in relation to your vision you created in the beginning of the year?
Staying on track and maintaining steady forward momentum is absolutely critical in planning and predicting outcomes. When business moves into the doldrums or perhaps even moves too fast, your business progress plan could be thrown out of kilter causing potentially rash, knee-jerk decisions which could negatively sabotage your overall goals.
Are you heading in the right direction?
Imagine a ship, heavily laden with expensive, important cargo (your business). The destination is specific and cannot be changed by either error or on a distracted whim. Before the journey even begins, the captain (you) painstakingly plots a route from Point A to Point B, taking great care to avoid dangerous rocky outcrops, for instance. He does, however, understand that he cannot know if a storm lies in wait, but does his best to make provision for potential disasters such as this.
Even when the captain may be forced off-course by unpredictable and sudden storms, he will always return to his charts, instruments and original pre-plotted route (your business plan and goals) to get back on course and successfully reach his destination. Of course, he knows he can rely on his carefully chosen, knowledgeable, experienced crew (your virtual assistant(s) or office staff) to keep his ship sailing as fast and safely as possible!
What’s working, and what’s not working?
This is perhaps the most clarifying question of all! It covers every facet of your business from staff to technology to client interactions. What’s not working, and what needs to change?
Are your finances on track?
Schedule a meeting with your financial adviser or accountant to make sure you continue to keep your business in ship-shape! Other expenditure questions to ask could be about spending money on new equipment to make business run more smoothly and quickly; perhaps you are considering relocating your office, or even deciding to save money by working from home and working with virtual employees instead of office-based staff.
Do you have staffing issues?
Need an extra hand in your office, or struggling with the staff you have on site? Now’s the time to prioritise for the next half of the year. This may mean an entirely new approach to how you staff your business. Outsourcing to a highly efficient individual or team of experienced and equipped virtual professionals will help you get back on track to meet and extend your goals for a definitive Q3 and Q4. This will also lower your general overheads such as office rental.
Are your office sundries in check?
Although they may seem insignificant, your office sundries are essential to your business operations! Are your computers, printers/scanners and internet connection efficient? Do you need to upgrade or switch to a more efficient and affordable internet provider? Are you making the most of time- and money-saving technology?
Each and every answer will help you clarify with precision exactly where you are in relation to your goals. This fresh perspective will pinpoint the adjustments you need to make so your ship will get to its destination on time and safely — ensuring success not only for the second half of the year, but lay a strong, dynamic foundation for the next.
Updated on January 5th, 2014