We’re just over halfway through 2017, at the beginning of any year we often take the time to self-reflect and plan our objectives for the year ahead. It’s so easy to get caught up in the day-to-day running of a business but now is a great time to reassess the goals you set for your business in 2017. Evaluate what is working and keep your business on track to achieve the objectives you set for this year.
Here are our tips to help your business thrive and meet your annual goals.
Recommit to your objectives
Have you revisited your business plan and goals recently? When you’re midway through the year, the goals you set back at the beginning of the year can feel like a distant memory. Are these goals and objectives still driving your activities, or have they been forgotten, perhaps things have changed and these goals and objectives need to be reevaluated and changed to reflect where the business currently is?
As you assess your progress so far, reflect on what has and hasn’t worked. Your business is dynamic, and evolving a strategy to embrace change and unanticipated events is essential to its success.
When we’re six months into a year, it can feel like the writing is already on the wall. In fact, the goals that you set back in January can seem like a distant memory. Are they still driving your activities, or have they almost been forgotten about? Assess your progress so far, and rethink what needs to be done to make the year a huge success.
Your people
One of your most valuable resources are your people. Throughout the year you will see organisational changes, these might be with employees leaving, new starters or promotions and so on. Identify if these changes have left talent gaps within the organisation, or given you new talent that you are currently under utilising. Similarly, to your goals and objectives it might be time to update the organisational structure, to reflect where the business is currently at and how it’s going forward.
Schedule performance reviews and identify employees who have been exceeding with their performance and ensure you are utilising their talent and rewarding them for it. Equally you should identify any of your employees who are having performance issues and offer them support. Nurturing your people is another essential factor to your businesses success.
Review your policies and procedures to make sure they are in line with current legislation.
Other areas of the business
As you re-examine your business goals and objectives for the year, take the time to meet with your managers and other key members of your team to get their feedback on the year so far. Assess other areas in the business, including how well you are engaging with your customers and clients, and if your products/services are meeting their needs. Are you engaging with new customers and clients?
Look at whether there are areas in your business that need investment or additional support, for example how is your IT infrastructure? If you have employees working remotely is it fully supporting their requirements, or are there better mobile technology solutions out there?
Carrying out a mid-year review does take time but will help to keep you focused and your business on track.