How to Give Your Firm A Mid Year Review

In December I gave my firm an end of year performance review that I found to be extremely helpful in developing my plan for 2016. This has lead to me doing quarterly check-ins to make sure I am on track to reach the goals I set for my firm at the beginning of the year.

Now that we have reached the middle of the year, it’s time to do a more extensive review to ensure that you are on the right track.

Review Your Goals

The first step is to review the goals you set for yourself at the beginning of the year. You can’t know if you are on track if you are not fully familiar with your plan.

Determine What’s Working And What’s Not

QUESTIONS TO CONSIDER in your midyear review:

• What goals have you reached?
• Which are you struggling with?
• Can you pinpoint why you didn’t reach a goal?
• How can you do better next time?
• What have you achieved?
• How did you get there?
• How did you feel over the past 6 months about your work?  About your personal life?

KNOW YOUR NUMBERS:

• What was your gross income so far this year?
• What were your expenses? Are they all necessary?
• What is your profit? Are you on track for reaching your goal for the year?
• Which services that you offer were the most popular?
• Which services didn’t perform well?  Are they worth keeping? Is there anything you can change to improve sales?
• Where is most of your business coming from? Who are your biggest referrers?
• Which marketing efforts are working? Which do you need to adjust or eliminate?

Adjust Your Plan

What do you want to happen in the next 6 months?

Adjust your goals and write an action plan that will help you achieve them.

Have you done a midyear review for your firm? Share your tips in the comments.