Bring it in, team. It's June, and that means one thing: you should be conducting your mid-year business check-up now! Huddle up with me, Coach Raymond Vrabel, Director of Technical Account Management at Continuum, as I give you the top 4 areas you should cover when performing your mid-year business check-up. A mid-year physical or check-up helps you and your staff avoid scrambling at the end of the year. December will be here before we know it, so tune in now to get started!
Below you'll find a still image of today's whiteboard and a transcription of the lesson:
It’s important to provide a mid-year assessment on the health and wealth of your business. A mid-year physical or check-up helps you and your staff avoid scrambling at the last minute at the end of the year. December will be here before we know it, so here are a few tips to help you get started now:
1.) What have you done and where are you going? Take a look at what you have accomplished during the first half of this year, and compare that with the goals you set at the beginning of the year. If you don’t have clear goals in place, then create a list as a baseline now so you can determine if you are hitting all of your marks – and if your business is progressing to where you want it to be. You should do this with a clear mind, when you have a chance to step outside of your day-to-day operations.
2.) Client Check-In: If you haven’t already done so, check in with your clients and see how they are doing. This means more than just revisiting their services agreements and contracts. Give them a call, or if it is logistically possible, plan a face-to-face visit. With all of the technology that we are accustomed to, we sometimes forget the importance of an in-person meeting. With an in-person meeting, the client feels important, as they are being treated as an individual, not just a services agreement.
3.) Manager/Employee Expectations: It’s important to check in with your customers at mid-year, but this same practice is true for your employees. Establish a mid-year employee review process so that goals and expectations can be managed, and everyone is in tune with what still needs to be accomplished. Similar to how you interact with your customers, arrange for a face-to-face meeting, even if you have techs who are remote, so that you can spend time addressing any open issues or projects
4.) Taxes and Accounting Matters: Mid-year is a time to look at your balance sheet, quarterly taxes, expenses and department budgets. Don’t spend the last two weeks of December trying to figure out budgets and taxes when everyone is winding down for year-end. Start forecasting now, and account for new hires, extra expenses, travel, new equipment purchases, tax increases, etc., now and going forward for the remainder of the year.
Bottom line: Follow these mid-year business steps and you’ll likely be more organized for the remainder of the year – and more likely to meet your 2015 business goals. It takes time, but time invested in your customers and staff pays off when it comes to the health and wealth of your business. Thanks for watching another episode of coach’s corner, I’ll see you next time. Take it easy.
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Look out for our next episode of Continuum Coach's Corner! In the meantime, do you have any questions for Coach Ray? Leave us a comment below. We'd be happy to work it into an upcoming program!
By Carlos Borges
By Ray Vrabel