It feels like New Year’s gets all the glory, that’s when everybody is dreaming big and they’re setting smart goals, but by June, chances are your goals, your priorities, things going on in your business, might have changed.

I want you to know that this is totally normal.

When you are a solopreneur or you’re running a small business where you are the one in charge of pretty much everything going on, things can shift pretty quickly.

A goal that you might have set in January might not be a priority anymore. Click To Tweet

There might be a new opportunity you decided to go for, there might be a new product or program or service you decided to create. But chances are, you still have big goals you want to achieve.

Every year, I check in on my goals with a process I call the Mid-Year Review.

Mid Year Review

2019 mid year

Are you on track to achieve your 2019 goals?

Download your free workbook to check in with a Mid-Year Review!

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Often I hear from my clients and my students that this is one of those times of year where if they’re not really taking the time to press ‘pause’ and to look at their progress so far – if they don’t get really get strategic about the remaining six months of the year – it can feel like the year gets away from them and then they’re getting back around to the next New Year, setting the same goals over and over and over again.

A Mid-Year Review can make sure that you're realigning your business with your current priorities.Click To Tweet

If you happened to join me earlier this year for Plan Your Best Year Ever and the workshop along with that with me, then you already went through the process to map out your entire 2019.

The Mid-Year Review is a nice way to check in on your plan and make sure that you’re on track… and if you’re off track, it will get you back on the right path.

Part 1:: Monthly Review

The first thing I do for the Mid-Year Review is I actually look month by month at the first six months of the year. What we want to do is look at what actually happened month-by-month so that we can figure out what strategy is going to help us to hit the goals for the end of the year.

Each month, I’m answering these three questions::

  1. What was your is total monthly revenue
  2. What drove revenue {as in – what actually sold that month}
  3. What were you focused on {where was your sales and marketing energy directed}

Each month – the first six months of the year or at least the first five months of the year and then June month-to-date – you want to know your total revenue for that month.

This is how much actually flowed into your business account for the entire month. Now, total revenue is revenue coming in before you account for any fees or taxes or expenses, et cetera. We’re not talking about net revenue, which is revenue after any cost of goods sold or any taxes or anything like that. We just want the total top line number. How much did you earn each month of the year so far.

Now that we know the total revenue, how much you brought into your business each and every month so far in 2019, we want to ask ourselves the next two questions:

What drove revenue?

What was your focus?

Understanding what drove revenue is all about how did you actually generate that revenue.

What drove revenue? What product, program or service sold best? What clients did you take on?

This is all about looking at that total revenue and figuring out what percentage of it was what type of product, program or service.

You might have one month where you happened to take on a lot of one-on-one clients and another month where you had been filling up a group program.

You want to look at your total revenue and figure out what drove, what actually created the revenue for that month and see if something really stands out in your business.

The other part of this question is: What was your focus? What did you promote?

What were you spending your time on? This is all about seeing, does your focus align with what drove revenue?

Chances are if you had a plan that you were working, you had a plan mapped out for 2019, then you had a plan for what you were going to be promoting each and every month.

You want to know if your plan actually worked and saw results::

  • Did it generate the revenue you were looking for?
  • If you had a launch for a new product or program, did that actually drive the revenue?
  • If you were focused on getting one-on-one clients, did that actually drive the revenue?

You want to make sure what you were focused on drove revenue.

This one question might require you to actually look back into things like your e-mails that you had been sending out or your calendar so that you can figure out what you spent your time doing.

When I answer this question I look through my e-mail service provider to see all the newsletters I had sent out, I review the podcasts I had sent out, to figure out if everything lined up and my marketing and sales strategy actually achieved the results I was looking for.

Part 2:: Year to Date Review

Once you’ve had a chance to do the monthly review, you’ve taken a look at each and every month so far this year, then we can move on to Part Two, which is looking at it as a whole.

There are some key questions that you need to ask yourself to figure out if you’re on or off track to achieve those big goals you set for 2019 and to help us make sure we know what we need to know in order to adjust and tweak your 2019 plan.

Ask Yourself:: What worked so far in 2019?

This is all about understanding what offerings were the most profitable. What marketing strategies actually produced the best results. You need to take a look over your months and see if what you were focused on actually generated revenue.

If the thing you were focused on that particular month didn’t actually generate revenue, then that was a strategy that was not really working for you. We need to take a look and figure out what worked.

Ask Yourself:: What flopped so far in 2019?

This is all about looking at what offerings didn’t sell, what marketing strategies just didn’t work the way you had anticipated. You want to go back and almost do like a postmortem review of any big campaigns or promotions you had to figure out:

  • Why didn’t that work?
  • Did I simply not get it in front of enough people?
  • Was it not right offer {people didn’t actually want it}?

You want to think through why something didn’t work so that you can decide should you try again or should you just put an ‘X’ through that particular program, service or marketing strategy.

Ask Yourself:: What got in your way?

This is such an important question because sometimes, you know, life happens and things happen that will actually hold us back from seeing the results you wanted.

Maybe you were sick during the month of March and it kind of threw off your entire plan. Maybe you had a family emergency you had to deal with. Maybe you think back on those months you realize, I got distracted a lot. I actually wasn’t following a plan so I was winging it a lot of this year so far.

You want to make note of what is holding you back, what is actually keeping you from seeing the results you wanted because you don’t want to repeat the same mistakes over and over and over again.

A Mid Year Review can help you avoid making the same mistakes!Click To Tweet

Knowing what gets in your way, whether it’s just bad CEO habits or getting distracted or procrastination, that is the only way to be able to create a better plan that will get you closer to your goals.

Ask Yourself:: What is the leading metric that drives revenue?

What can help you track your progress and ensure that you’re moving closer to your goals?

The leading metric is the number you can track the predicts whether or not you will hit the lagging metric. Lagging metric in this case we’re looking at is revenue. The leading metric is what predicts revenue.

In my business, the way that my business is designed, it’s new e-mail subscribers who happen to opt-in specifically for one of my masterclasses that I run. That’s the leading metric I track – how many new people signed up for a master class.

Other businesses, it might be how many people came in as referrals. How many referrals did I get? How many repeat customers did I get? It could be how many requests for consults did I get?

You want to know this number, this indicator, to help predict sales because knowing this number will help you to take action and impact your revenue.

When I first started in my business by leading metric had nothing to do with e-mail subscribers but it had everything to do with how many new free consultations did I book each and every week.

I knew that if I needed to gain a new client every week than I needed to book maybe six free consultations, knowing that I would probably only have four of those consultations actually show up {because people cancel or they no-show on you – FYI it’s just something that happens, no big deal}.

I knew that I had to get six consults booked in order to see four consults in order to have a new client at the end of the week.

Understanding those numbers can make a huge impact and help you track whether or not you are on track and you’re going to achieve your goal.

Ask Yourself:: What will help you close the gap between where you are right now and your big goal for 2019?

What is your total goal revenue this year? This is probably the biggest goal everybody sets in their business is goal revenue.

You might actually have a slightly different goal that you’re focused on so feel free to adjust this question to really show up as your biggest goal so far this year. Your big goal this year might not be a total revenue number. It might be seeing a certain number of clients. It might be launching something finally.

Whatever your big goal is, let's focus on what will help you to close the gap between where you are right now and your goal for 2019.Click To Tweet

Let’s say that your goal revenue for 2019 was to earn to $5000 a month or $60,000 a year. Totally achievable goal. What you want to be looking at right now is:: At this point, if you’re listening in June when this episode is being released, are you halfway to achieving that goal?

Have you generated $30K in revenue in your business year-to-date? If you’re a little bit under that, you want to ask yourself what will help you close that gap between where you should be at this point.

Let’s say you’re not quite at $30K, you’re at $25K so far this year. Where are you going to pick up that extra $5K? That might mean maybe you need to sign on two new clients really quickly in order to get back on track. Maybe it means you need to actually put together a promotion going into these summer months to ensure that you don’t fall further behind your goal.

You actually want to take a moment and think about: Okay, if I’m $5K behind my goal or $10K behind my goal, what can I do right now to close that gap and kind of make up the missed revenue?

If that’s you, I just want to let you know again, this is something that happens to everyone.

Please don’t beat yourself up that you aren’t on track and make it mean something that it really doesn’t mean.

I can tell you that over the years after launching things and running this business for nearly ten years, there have been times where I did a launch and maybe it didn’t achieve the revenue goal I had wanted so I would follow up the next month with a one-on-one offer in order to close the gap and get back on track with my revenue goal.

There have definitely been times where maybe I had to let go of a private client that turned out to be a terrible fit. It happens. Then I had to go out there and bring in another private client I wasn’t anticipating.

This is part of being an entrepreneur. It’s all about figuring out how do you just be resilient and get back on track as quickly as possible.

If you have a gap between where you are currently and where you should be, so by the end of June you should be halfway to achieving that goal, if you have that gap, sit down and brainstorm. What do you need to do in order to close that gap? How big is the gap? Is it 5K? Is it 10K? Is it more?

What do you need to do to close that gap?

Once you’ve figured out the year-to-date review, you’ve answered these questions: What worked? What didn’t work? What got in your way, so that you can avoid making those same mistakes again or you can plan for life to happen.

You know what your leading metric is that you should be tracking each and every week to ensure that you stay on track. You know what your gap is and you have a plan, you’ve brainstormed some ideas to close that gap.

Part 3:: Plan for the Second Half of 2019

Then you want to sit down and actually document your plan for the second half of 2019. This is all about making sure we don’t repeat any mistakes and that we’re focusing our time and our energy on what actually works for you and your business.

One thing I want you to know going into planning for the second half is you don’t have to recreate the wheel.

If something worked before it will likely work again.

I see so many people who add so much unnecessary stress because they’re constantly trying new things – new marketing strategies, new sales strategies, creating new offerings – when instead they could take something they’ve already offered and offer it again.

In fact, if you watch my business you will see that I offer the same programs over and over and over again. This is how you make them bigger. This is how you capitalize on all the time and energy that you’ve actually put into creating something.

I’ve been running Sweet Spot Strategy for nine years now! There’s no reason to recreate the wheel when I have a program I know that works and I can continue to help people with it.

What worked in the first six months that you can really rinse and repeat in the next six months?

Mid Year Review

2019 mid year

Are you on track to achieve your 2019 goals?

Download your free workbook to check in with a Mid-Year Review!

Powered by ConvertKit

Each month, you want to map out a clear game plan based on what you know WORKS for you and your business.

1:: What is the offering you are selling this month? Is there a product, a program or a service that you are focused on selling?

Each and every month you should know where your time and energy is going to be spent. You want to know what exactly you are going to be focused on selling each month so that you can put all of your energy behind it and really get the biggest impact with the least amount of effort.

2:: How are you marketing that offering?

How do you plan to market this offering aka attract, engage and nurture potential clients?

A great example is from my own Mid-Year Review game plan. I have a challenge and program called Plan Your Best Year Ever all about creating a week by week action plan for an entire 12 months. We ran it last year in December and it was a huge success, people absolutely loved it. So I plan to offer it again at the end of this year in late November or early December.

I know that I will be talking to my community about it. I’ll attract people through my podcast, through Facebook ads. I’ll engage them, they’ll actually be joining my Facebook community and they’ll be signing up to get all of the free content.

People who are already on my list, they’ll be getting content just like I’m sharing with you right now. They’ll be getting free workbooks, including a year-in-review workbook. They’ll get an opportunity to learn more about how to plan their best year ever.

3:: How will you plan to invite people – aka SELL – into that offering?

How will you actually extend that invitation so that they can decide whether or not they want to buy something from you? For Plan Your Best Year Ever it’ll be a combination of the free challenge that we ran last year plus e-mails.

That’s how they’ll get the invitation. They’ll get e-mails once they complete the free challenge inviting them to go ahead and sign up for The CEO Retreat.

Ask yourself these questions for the next 6 months of 2019::

  • What am I focused on selling?
  • How am I marketing it?
  • How am I selling it?

Once I have these things laid out, suddenly my year becomes so much easier because I’m not doing marketing that’s disconnected from my sales strategy, that’s disconnected from what I actually want to sell, it’s all working together, it’s synergistic.

You want to map this out for each and every month for the rest of the year.

If you’ve never mapped out month-by-month what you’re focused on, what you’re offering, how you’re marketing and selling it, then you might actually want to look back into previous years to take a peek at what worked and what didn’t work because truly businesses are seasonal, and if you had something that sold really well last September, it will sell really well this September.

Now, we’re in June, you have a few months that you can actually take some time and think about what do you need to do to get even better results. You can actually review what you did before and say,

“You know what? Last time I didn’t really lead into it very well. I need to have a couple more blog posts that warm people up and prepare them to hear about this new offering I want to fill this fall.”

You’re going to do that each and every month. What is the offering you’re selling? How are you marketing it? How are you selling it?

You also want to give yourself a goal revenue for each month based on your marketing and sales activity. This is one thing that you need to understand – revenue will not be the same across the board.

This is just the reality of business.

Like I said, business is seasonal. Things are never going to be 100% the same across the board unless you happen to have something like a membership or a SAAS business where you have people who are paying you the same amount every single month for months and months on end.

For the rest of us – who are running trainings or on-line programs or group coaching programs or working with people one-on-one or offering services – your revenue might ebb and flow a little bit from month to month.

You need to know what months are your big months and what months are slower months. This is totally normal.

If your annual revenue goal – going back to our example earlier in this year-in-review or mid-year review – was to bring in $60K a year and you need to bring in an extra $30K in order to achieve that goal, then expecting a steady $5K a month might not actually make sense if you know your business is going to slow down a little bit in the summer.

You might know that last year you made most of your revenue in September, October, November and then it dipped down a bit in December.

These are things you won’t know until you’ve been in business for a few years, but I can tell you that in my own business, generally July and August are a little bit slower but September and October are awesome months.

I might actually look back and figure out, maybe my goal revenue for July and August if my goal is to make $30K for the second half of the year, maybe my goal revenue those months is going to be like $3500 and then September I’m looking at, I’m going to make at least $7500 that month and $7500 in October, knowing that it’ll go back down.

Planning revenue includes understanding the law of averages.

There will be months that are over that $5K mark and there will be months that are under that $5K mark, but when you align your sales strategy and your marketing strategy, you make sure it’s all working together, then you will know whether or not you’re going to achieve those goals.

You’ll have a better indicator, a better plan to help you get on track.

Over the next couple of episodes of the Uncomplicate Your Business podcast, I’m going to be sharing more strategies to help ensure that you really are planning for the second half of 2019 and staying focused even during the summer slowdown week-to-week to make sure that you have good momentum going into the second half of the year.

And if you liked this episode, don’t forget that the next CEO Retreat is coming up on June 14th! RSVP now to save $200 during early bird pricing and I’ll even ship you a planning package for the virtual day together. Get all the details now!