As mid-year approaches, you should consider launching a review process to see where you’re at with meeting business goals and expectations. A mid-year assessment is a great way to track your performance, identify any possible flaws in your planning and ultimately get back on track to reach your goals.
Whether it’s getting your entire team more involved, running a careful analysis of your progress or trying to view your performance through customers’ eyes, there are several steps you can take to get back on track with your objectives. Below, 13 members of the Young Entrepreneur Council offer their expert advice.
Get Your Team Invested
Goals are something you should have a clear heartbeat on from month to month. If you’re approaching the midway point and seem to be off-target, leverage the data you’ve collected and get the staff involved in not only getting back on track but making up ground. Start sharing that monthly progress with your staff and getting them fully invested in the goals of the organization. – Michael Spinosa, Unleashed Technologies
Implement Weekly and Quarterly Goal Tracking
One thing we’ve really focused on doing this year is making sure our goals—revenue and other—are clearly laid out in a spreadsheet. This makes it easy to see it all at a glance and stay on top of what’s going well versus what might need a bit of work. If some of our goals are consistently missed, then we make it a priority in our next weekly meeting to find a solution. – Nathalie Lussier, AmbitionAlly
Keep a Year-Long Schedule
The best way to create goals is to have them under review all year long. You shouldn’t have to wait until the beginning of the year to find out where you should be, and you won’t need to if you have smaller goals that you’re tackling on the month-to-month level. Be accountable and close to a goal at all times to stay on track. – Adam Steele, The Magistrate
Understand Goal Priority and Health
Not all goals are created equal. We have overarching corporate growth goals that include new business and organic growth. Under each is many other goals and initiatives. We look at the overall health of the company and the velocity of progress of our meta-goals before diving into each of the subordinate goals. We want to make sure the pursuit of one goal does not create a negative ripple effect. – Chris Van Dusen, Parcon Media
Use a SWOT Analysis on Your Goals
Use a SWOT analysis for each of your goals and their current implementations. See how far along they’ve gotten and what new challenges or factors have emerged over the year. Chances are, you’ll be able to highlight key points that will allow you to align your goals in the right direction. – Nicole Munoz, Start Ranking Now
Look at Success from Your Customers’ Eyes
At my company, we take time for regular check-ins with each and every customer in order to gauge our success from their eyes. If they’ve identified specific pain points, we work to resolve the issue and better our approach right there and then. Doing regular check-ins like this will help keep you on track throughout the year, so you don’t have to make a big pivot at the year’s end. – Stan Garber, Scout RFP
Run an Employee Engagement Survey
While most companies do a year-end engagement survey, doing one halfway through the year is a great way to check the progress on your goals and areas you have committed to improving. If you are behind on your goals for the year, you can tighten those areas up in time and dedicate the necessary resources to meet those obligations before the year ends. – David Ciccarelli, Voices.com
Create Action Plans
I prefer to create action plans associated with goals, as opposed to just creating high-level goals and then getting busy and forgetting about them. I find this to be more simple to stick with, and consequently, more result-driving. I would say if you’re way off track, then break things down into actions you can take on a daily or weekly basis. – Baruch Labunski, Rank Secure
Make the List and Have Someone Check It Twice
As funny as that sounds, I make my goals and list them down and make myself plus other people accountable for the list I made. My business coach and my team know my goals and I always tend to get back on track because I have them to check and make sure that the goal I set with them is done accordingly. Always find someone who is accountable to check on you. – Daisy Jing, Banish
Reassess Off-Track Goals
If a long-term goal is off track, there is a reason—or reasons—why. It’s vital that your organization understands why and adapts accordingly. Is a team under-resourced? Explore adding resources. Is it a leadership problem? Fix it. Is the goal so far off track that it’s now impossible? Reset to a new reach goal. Otherwise, chasing a goal that the team doesn’t believe is possible will kill morale. – Todd Emaus, Twenty20
Evaluate a Yearly Plan
At the end of every year, my co-founder and I make a detailed plan for the upcoming year. We focus on creating a game plan for every department and discuss the areas where we want to see growth. As mid-year approaches, we go through our yearly plan and evaluate the progress our team is making. This helps us get back on track and focus on where we want to be by the end of the year. – Jared Brown, Hubstaff Talent
Write and Revisit
Writing my goals in a notebook where I see them has often helped me stay on track. During the mid-year point, it is crucial to revisit personal, professional and team goals and spend time identifying what steps you have taken to achieve these goals in order to stay on track. – Bryanne Lawless, BLND Public Relations
Arrange for a Mid-Year Retreat
We define goals quarterly, then participate in a mid-year retreat in a space of non-judgement. Each individual is accountable for their success, and through non-partisan performance evaluation, we redefine organization roles throughout a mixed program of meditation, motivational speaking and, of course, SEO seminars. Byproducts of this include new revenue streams and increases in revenue. – Matthew Capala, Search Decoder
The answers above are provided by members of Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched BusinessCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.
Opinions expressed here by Contributors are their own.