Conducting a mid-year review of your business

Want to know how to conduct a mid-year review of your business. A year is a long time in business and whilst I’m a massive advocate for setting annual goal and creating annual plans to achieve those goals, the reality is that it’s essential to stop throughout the year and review how your business is performing. The mid-year point is a great time to do one of those reviews. Keep on reading to find out more about conducting a mid-year review of your business.

 

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CONDUCTING A MID-YEAR REVIEW OF YOUR BUSINESS

 

1. Assess progress towards your annual goals

When conducting a mid-year review of your business the first thing you should do is review your annual goals. Go through each goal and assess how you’ve done over the first 6 months. For each goal you’ll either have achieved it or not. Then, for those you haven’t achieved, you’ll either be ahead of schedule, on track, or behind schedule. Having an up-to-date understanding of how your business is performing against each goal is vital. For example, knowing you haven’t achieve a goal is one thing, but if you have identified that you are behind track, then that is a signal that you extra work needs to be done otherwise the likelihood is you won’t achieve the goal by the end of the year.

2. Review your numbers

Once you’ve looked at your annual goals it’s then time to do a more general review of your business. Whether you are someone who regularly looks at the numbers in your business or not when conduing a mid-year review of your business it’s the perfect time to properly look at your numbers.

Depending on the type of business you run the numbers that are important to you will vary. However, here are some common numbers (or metrics) you can review.

Financial

• Revenue
• Profit
• Monthly Recurring Revenue
• Personal Income (Salary/Dividends)

Sales 

• Total number of sales
• Sales per offer
• Percentage of repeat purchases
• Average lifetime value
• Conversion on sales calls, sales pages etc

Marketing 

• Website (Traffic source, Volume of traffic, conversion rate)
• Email (List growth, open rate, click-through rate, conversion rate)
• Content (Downloads / views)
• Social Media (Follower count, engagement ratio)

 

 

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3. Reflect on the past six months

Looking at the number is one thing, but as a small business owner, it isn’t just about the numbers. That’s why I recommend you have a 2-step review process, which is review and reflect. Reviewing is where you look at the numbers. You have the data and can see on paper how the business is performing, and ideally it will be performing better. But then you should reflect on your experience in the business. For example, did you make more revenue over the last six months, but it you’ve been putting in an extra 10 hours per week to make it happen and that can’t continue?

When reflecting on your experience in the business, think both about what you have loved and what you have disliked (or found draining). Think about specific clients, your experience delivering offers, projects, collaborations etc. The more detailed you can be here about what you have liked and disliked will help you when planning to do more of what you love and less of what you don’t love.

 

 

That’s it. You now know how to conduct a mid-year review of your business.

As I mentioned at the beginning, a lot can happen in a year so making the time to do a mid-year review and really check-in with how things are going six months in is vital. This process shouldn’t take you very long. When I work with business owners I’ll combine a mid-year review with a mid-year planning session and that takes 2 hours in total.

 

 

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Join THE MID-YEAR CEO RESET

Once you’ve reviewed the last six months you’ll want a plan for the next six months.

That’s how you see some businesses making so much progress in just one year.

And I’ll guide you through doing both in The Mid-Year CEO Reset.

 

In just two hours you’ll review, reflect and refocus so you go into the second half of 2025 with clarity, confidence and ready to make every day you work count.

To join The Mid-Year CEO Reset click here.