A Mid-Year Checkup for Your Business
Just like that yearly physical, a mid-year checkup for your business is a great way to determine just how healthy your endeavor actually is. Many business owners don’t really do this, and it could be because they just don’t know how. Are you asking yourself what you should look for? Or perhaps what the best steps might be to get the information that will be most helpful to you? I’ve got some answers for you!
Start with being thankful for everything you’ve accomplished in the past six months. Go beyond how much money you made, and review any amazing projects you completed or any projected goals or milestones you met. Did you sign a particularly valuable client? Did you complete that webinar series you’ve been mulling over? Is your podcast up and running? These are things you can be proud of, and being proud of what you do is a vital part of being a successful entrepreneur and a satisfied human.
The numbers matter, of course, so the next step in your mid-year checkup is the one in which you review your numbers. This section of your checkup involves a few different items:
- How much money did you make?
- How much money did you spend?
- What is your current tax situation?
- When it comes to what is bringing in the money, what are your hits and misses?
- Where can your expenses be cut?
- What are your new opportunities to make money in the coming months?
- Are you fully covered in both the financial and legal areas?
Your systems need to be working properly, and a mid-year checkup will help you to ensure that this is the case. You can also decide whether you need any upgrades or if you need to make any systems changes that can help streamline your processes. Some systems to look at during your mid-year checkup will be:
- Project Management
- Sales Funnel
I’m Anna-Vija McClain. I’m very proud to be able to share my experiences and understanding as an entrepreneur in order to support small business growth and professional development in the Nashville business community. I have helped business owners boost their profitability while achieving their own personal goals, and I am here for you!