Published: July 13th, 2016; by Judi Hughes
If your strategic plan maps out how you will achieve your business goals, then taking time to review that plan is a must to keeping you on the right path. It is the half way mark of the year, now is the perfect time to review the components of your plan and assess how you’re doing six months in. Doing that review and managing changes now leaves you with time to correct your course and set yourself up for success in the six months ahead.
Most entrepreneurs focus primarily on revenue as a marker of achievement. It’s certainly important, but all aspects of your plan need to be evaluated as they feed into the overall success of your business.
Half-way through the year check in. Are the goals you set for the year realistic? Whether you are talking revenue or other aspects of your business, knowing what is achievable is key to getting yourself back on course. Sometimes a goal is attainable but not always realistic to your situation. If the goals you set are not working or consistently causing you frustration in your efforts to achieve them, it’s probably time to re-assess.
How do you know it’s not working?
The quantifiable goals you’ve set, such as revenue forecasts, numbers of clients and number of products sold, will clearly indicate if you are on target or not. In other cases, it may simply be a feeling you have. Is there something about your social media strategy that doesn’t sit well with you? Are you connecting with the ideal clients you’ve identified for your business model? Don’t discount your hunches or feelings. They too can provide insight into what you might need to address moving forward. Six months into the year if you “feel” that a strategy isn’t working and bringing results then it is time to delve deeper to see if your hunch is correct.
Reassessing your plan does not mean changing your entire strategy. It means having a greater understanding of where you are so that you can prioritize what to focus on for the rest of the year. What is important through this process is clearly identifying what’s working and where you need to do some catching up.
What do I fix first?
There is no single answer except that prioritizing is critical. Don’t try to solve every issue. What is important is deciding what you can realistically do in the next six months to get and keep you on course.
Do it now
With sunny summer days ahead, it’s tempting to take it easy and put off planning and revisions off until September. By then, it will be more difficult than ever to catch up before year end if you do need to change course. By taking the time now to monitor and manage your plans, you can benefit from the results of immediately implementing necessary changes and you will still have time to enjoy your summer.
- How is your year going?
- Are you on track?
- What do you need to respond to or change?
- Who can help you?
- Review all of the components of your plan.
- Identify your focus. What are the things that have to happen or your plans will be jeopardized?
- How are you going to make those things happen?
Haven’t got a plan? Download our ‘Plan for Success Handbook’ now.
As always, feel free to contact us directly anytime.