Why coaches + creatives should do a mid-year business review
Believe it or not, we’re halfway through the year! How are things going in your business?
Mid-year is a perfect time to press pause and
But when you pause in the middle of the year, you can course-correct, modify, and — if needed, hit the reset button — so that you can get your business on track for the remainder of the year.
A mid-year business review is a chance to get back on track
As a coach or creative, you likely carved out some time for yourself at the end of last year (or the beginning of this one) to plan for the year ahead.
You set goals, visions, and a tangible plan to achieve what you wanted.
But now, you’re six months into the year, and your plans and goals may have changed.
In fact, they likely have changed — due to world events (hello, coronavirus!), economic events (increase or decrease in client work), and you may have had to move things around in your business (pivot, anyone?!)
Here are 4 reasons to conduct your own mid-year business review on your coaching or creative business:
1) It’s not just about your numbers.
While you do want to review your numbers, the story the numbers tell and how you feel about those results is a better gauge. You might not be selling a certain product or service because you’re not excited about it. Or maybe you have a package that’s been selling like hotcakes and you’re ready to expand the offering. This is an opportunity to take the time to understand what your metrics are communicating and what you want to do.
2) A lot can change in your business.
When you’re just starting, you can experience massive shifts in your business in a matter of weeks and months! You’re learning, growing, and changing with every client you serve. You might change your niche, your offers, your messaging, or your entire business. Now is the time to make sure that the path you’re on is one you still feel aligned with… if not, time for
– When you reflect, you learn and grow.
Unless you take time for reflection and understanding, you will miss key opportunities to learn and grow your business. To evolve, you must pay attention to what is and isn’t working, and be willing to evolve.
– You decide where you want to go from here.
You still have 6 months ahead of you to fill however you’d like! Now is a great time to think about what you want to experience in your business during the upcoming months. What do you want to do less of? More of? How do you want to spend your time and what results do you want to see?
Now is the perfect time for a check-in. And you don’t need to take a day off of work. You simply need 30-60 minutes of dedicated time to focus.
Here’s how to do your mid-year business review for your coaching practice
Schedule time for your mid-year review when your mind is fresh, your energy is high, and distractions are few.
Step away from your computer or your office entirely. Grab your favorite notebook and pen.
Start with meditation or some deep breathing to clear your head.
10 questions to ask yourself in your mid-year review
The whole point of this business review is to take a birds-eye view and do an overall gut check on your business.
Ask yourself the following:
- How aligned am I feeling about my business?
- What parts of my business am I loving?
- What parts am I dreading?
- What do I wish I had more of?
- What do I wish I had less of?
- How satisified am I with what I’m offering and why?
- How do I feel about the clients I’ve been serving?
- What do I want to experience that I’m not currently experiencing?
- What needs to change in order for me to experience that?
- How will I feel if I can experience those results?
Record your answers on paper. What are they telling you?
Now look at your results and consider what you would need to do, think, or have in order to get those results that you want.
Consider making a visual reminder of what you want to experience. It could be a vision board, photo, or even your answers to these questions tacked up inside your office.
This serves as motivating tool and reminder to keep you focused on what you want for the second half of the year.
Get your free template to conduct your own mid-year business review
I’ve put together a mid-year review template full of questions to ask yourself to assess where you’re at and align with where you want to be.