Tuesday With Michael: 5 Questions to Ask Yourself at Mid-Year

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Fountain Pen Resting on a Journal

We are just past the halfway point of 2021, are you more than halfway toward achieving your goals? The process of reflection gives business leaders the insight they need to make strategic decisions. It creates opportunities for celebrating successes and overcoming weaknesses.

Regular reflection and realignment of goals keeps your organization on track and ahead of the competition. I recommend taking the time to do this monthly, weekly, or even daily, but mid-year is especially important. Now is the time to analyze what’s working and what’s not and adjust your plans and processes accordingly.

Here are five questions to consider:

What are the major successes so far this year?

Take a look at what you and your company are doing right and have a party! When successes are celebrated, it increases motivation and engagement, resulting in higher productivity.  Look at what your organization is doing right because these are the high payoff activities that you should focus the majority of your time doing.

What were the biggest challenges?

Review the areas where you and your organization are struggling. What goals have you made the least progress toward? Was there an unexpected problem that could have been prevented? How did your company respond to the global pandemic? Be proactive in identifying problems – and be flexible in your planning so you can adapt even when the world is turned upside-down. Avoid repeating the same mistakes. It is ok to fail as long as you “Fail Forward” (John C. Maxwell).

What have you learned?

Review the past 6 months and think about what you know now that you did not know before. Write it down and apply what you have learned to your future goals and plans.

What are your Key Performance Indicators (KPIs) Saying?

Look at the numbers, analyze and interpret them, and then make necessary changes to your strategic plan. Measuring KPIs is worthless if you do not utilize the insight they offer.

 How can you improve results?

Once you answer the first 4 questions. this should be clear. What can you do to increase revenue, bring in new clients, grow your business? What can you do to stay ahead of the competition? How can you be better today than you were yesterday? Remember to be innovative.

Automobiles start breaking down without regular oil changes and maintenance. Computers and electronic devices need to be updated and restarted regularly or they will fail to operate. Businesses (and business leaders) need the same attention. Take some time at mid-year to reflect, refresh and refocus. Don’t give up on what really matters most – make it happen this year!

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