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Have You Done a Mid-Year Business Check? Here’s How.

By Adreana Young on July 11, 2019 in BlogNo Comments

Have You Done a Mid-Year Business Check? Here’s How. graphic

At the beginning of the year we talked about the importance of setting goals and business resolutions. Now that we’re half way through the year where do you stand with those resolutions? Are you making progress or have you lost focus?

As we move into the summer season, now is a great time to set aside some time to do a mid-year business check in.

1. Review your goals.

Before getting into the nitty-gritty of a check in, review the goals you set for your company at the beginning of the year. Ask yourself where you stand on each of those goals. Sometimes you’ll be reminded of a goal or objective that you set out to do, but forgot about. No matter how much or how little you’ve accomplished over the first six months of the year, take note of it.

Once you’ve jogged your memory on the plans you had, there are three things you can do:

  1. Reset, refocus and/or restart: Are you falling short on a particular goal or resolution? That’s okay! We’re only halfway through the year. Now is just as a good a time to start a goal as January 1. Write down where you’d like to be on this topic by the end of the year and set measurable and attainable goals.
  2. Pivot or move on: Did you have an idea in mind at the beginning of the year that doesn’t interest you anymore or isn’t attainable right now? That’s okay! You can always come back to a goal. If now isn’t the right time to start offering a new service or launching a new marketing plan for your company, it might be at another time. It’s okay to set goals down and come back to them later.
  3. Keep doing what you’re doing: If you’ve been crushing your goals or even just cruising along at a comfortable pace, keep it up! Checking in is always a good idea to make sure your process of achieving goals is working for you.

2. Check in with employees.

Once you’ve checked in with yourself and your goals for the business, schedule some time to meet with your employees. Depending on the number of employees you have, try to meet with everyone.

If you set goals for them at the beginning of the year, now is a great time to do a review. When you have a better understanding of where your employees are, ask them for any input or for their perspective on the day-to-day of the business. Including employees in the discussion about the business will help them feel more invested in the success of the company and you will also get another perspective from someone who understands the business.

Looking for more information on how to increase employee satisfaction? Check out this Ewing blog for six tips for retaining great employees.

3. Review your finances.

If you’ve been tracking your spending and revenue up to this point, a review of your business’s finances could be a quick task. Check in to see what you’re bringing in versus what you’re spending to see where you net out for the year so far. Are you on pace to hit your revenue goals for the year? If you are, great! Keep doing what you’re doing. Not exactly where you want to be? That’s okay, but now would be time to either hit the goal harder or pivot your strategy and realign your goals.

Tracking business expenses isn’t always easy though, so if you don’t have that information on hand take a little more time to figure out where you are. In addition to reviewing payroll and material expenses, don’t forget to include other costs of doing business like gas and maintenance for your truck(s), or marketing expenses like advertising or website fees. It can take time to get all of this information in order, but knowing what it costs you to do business is one of the best ways to make sure your business is successful.

These Ewing blogs include tips from fellow industry professionals and other ideas for growing your business, cost savings and more:

4. Make sure your equipment is working properly.

Now let’s take a look at the tools that help you do your job. What’s the status of your truck(s)? Are your tools and equipment in good shape or is it time to get some new ones?

It’s easy to get caught up in the busy day-to-day of business, but ensuring your tools are in good working order will help you save money, save time and prevent injury.

Read this Ewing blog for more tips on how to properly care for landscaping tools.

5. Go back to your goals again.

You’ve checked in with employees, reviewed your finances and made sure your tools are in good working condition. But before you run full speed ahead into the second half of the year review your goals one more time. Does anything need to change based on the conversations you had or what you found while checking in on everything?

Never be hesitant to make changes to your goals based on the reality of where your business is today. Your goals are only as good as your method of achieving them. Planning and reviewing those plans will help ensure you meet your goals and will can give you peace of mind knowing where you stand.

Have You Done a Mid-Year Business Check? Here’s How. graphic
Adreana Young
Adreana Young is a customer insights specialist at Ewing Irrigation and Landscape Supply. She can be reached at ayoung@ewingirrigation.com.
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