Mid-Year Business Checkup: 5 Steps to Keep Your Small Business on Track

Did you set goals at the beginning of the year? How are things going? Are you on track to achieve the goals you set?

We’re already halfway through the year, and it’s the perfect time to check in and see how you’re doing. A Mid-Year Checkup is needed to help you stay on track, and make any necessary adjustments to ensure you end the year with the results you desire.

I’ve put together a 5-step process to help you review and revise your goals if needed. I’ve also created this workbook you can download to walk you through all the details of performing your own Mid-Year Checkup. Let’s dive in!

Step 1: Write Down Your Annual Goals

Start by revisiting the goals you set at the beginning of the year. Writing them down again helps to bring them back into focus and re-establishes your commitment. Whether your goals are to increase revenue, expand your customer base, or launch a new service or product, this step ensures that your original intentions are fresh in your mind. Revisiting these goals can also serve as a motivational tool, reminding you of why you set them in the first place and reigniting your passion for achieving them.

Step 2: Review the Current Status

Next, review the current status of each goal. Be honest and detailed in your review:

• Are you on track to achieve the goal?
• Have you encountered any unexpected challenges or setbacks?
• What milestones have you reached so far?

This step is crucial because it provides a clear picture of your progress and highlights any discrepancies between your goals and how you’re currently doing. Taking the time to evaluate where you are gives you the opportunity to celebrate your successes, which is important for maintaining motivation, and to recognize areas that need more attention.

Step 3: Take a Hard Look

Now, take a hard look at each goal and determine what needs to be doubled down on, scrapped, or moved to a later date. Ask yourself:

• Which goals are still relevant and attainable?
• Are there any goals that should be scrapped or postponed based on the current direction of your business?
• Have any new opportunities emerged that might shift your focus?

Evaluating and adjusting your goals is a vital exercise because it helps you align your objectives with the ever-changing landscape of business. Circumstances can change, new opportunities can arise, and some goals might become less relevant. This step ensures that your efforts are directed towards goals that truly matter and have the highest potential for impact.

Step 4: Identify What’s Working and What’s Not

Reflect on the progress you’ve made with your goals so far. Take note of what’s working well and contributing to your progress. Similarly, identify the areas where things aren’t going as planned. This honest assessment will help you decide where you should spend more time and effort, and where you should pivot or try something new.

Recognizing the things that are working will help you build on your strengths and replicate those results. Identifying the things that aren’t working will allow you to stop wasting energy and resources on things that aren’t paying off. This step is about making sure you’re spending your time in the right places.

Step 5: Where Do We Go From Here?

The final step is to adjust your goals based on what you find, and set your priorities for the remainder of the year. Consider the timeline, time and resources required, who will be responsible, and how you will track and measure results so you can create a detailed action plan to set yourself up for success.

Of course, keep in mind that you can always change course if circumstances warrant. Your goals are meant to be a guide to lead you toward the results you desire, not a rigid plan that you stick to, even if you no longer desire the same results. Just be careful that you don’t scrap goals because they’re too hard or you don’t feel like doing the work.

Why a Mid-Year Check-Up is Crucial

Conducting a mid-year check-up is not just a routine task—it’s a powerful strategy to ensure that your business stays aligned with its vision and goals. Here’s why it’s so important:

1. Refocus and Reenergize: Revisiting your goals helps you refocus your efforts and get reenergized around your goals. It’s an opportunity to celebrate successes and reignite the passion that drives your business.
2. Adapt to Change: The business landscape is constantly evolving. A mid-year review allows you to adapt your goals and strategies to any changes in the market, industry trends, or unforeseen challenges.
3. Maximize Efficiency: By identifying what’s working and what’s not, you can allocate your resources more efficiently. This ensures that your efforts are directed towards the most impactful activities.
4. Enhance Accountability: Documenting your progress and reassessing your goals enhances accountability to yourself, and your team if you have one. It encourages a culture of continuous improvement and commitment to achieving your desired outcomes.

Ready to Dive In?

I’ve created a free comprehensive PDF workbook to walk you through this 5-step process in detail. This guide includes worksheets and prompts to help you document your goals, assess your progress, and develop a solid action plan for the rest of the year. Download it here.

My mission is to help you create a business that is a blessing to you, not a burden, and taking the time to work “on” your business by doing this mid-year checkup is a great way to help you do that. If you have any questions, please don’t hesitate to reach out.

And if you’re interested in more information like this and you’re not already receiving my weekly email, you can sign up here: Weekly Email

Deb Mitzel is a Small Business Operations Consultant & Coach, as well as a 17hats Implementation Specialist. Deb is passionate about helping her clients get time back so they have the bandwidth to bring their personal and professional dreams to life. She believes that an Integrated Life – one where your life and business are designed to serve you best – is not only possible, but achievable. If you need help with your business and would like to chat with Deb, she offers a Free Discovery Call to learn more. Click below to schedule your call!