A Small Businesses Agenda for Mid-Year Reviews

Getting into Quarterly Meeting Rhythms and habits that will keep you on track

Follow through on strategy and goal setting with regular quarterly meetings.

As we now pass the 6 month mark, the second half of the year becomes increasingly important to ensure we meet our targets. Assuming you set out plans and objectives for your company this year (as we talked about in earlier postings), now is we the time to get together with your team, your managers, or just yourself to see how you are making out compared to your targets.In our business, I get together with my key managers, accountant and purchasers for one full day each quarter. A very simple and focused meeting, below is the agenda that I follow.

1. Financial review of performance vs targets for the last quarter and year to date.
2. Review the results of our 3-5 focused initiatives for the last quarter.
   • Compare these results to our goals/targets.
3. Set our 3-5 focused initiatives for the next quarter.
   • Review our list of previously identified initiatives as well as new ones brought forward and set only 3-5 new initiatives for the next quarter.
4. Review personal goals from each member of the team as set at the beginning of the year.
5. Updates / Housekeeping
   • We review updates on marketing, accounting, sales, budgets, etc.
   • Anything else we feel we need to touch on while we’re all together.

After a meeting like this, we all know where we are at as a team compared to what we set out to do for the company this year and this quarter. It realigns us as a group and refocuses us on what’s important for the company at this time and over the next 90 days.

You can do this with your team, or on your own. Either way, it’s important to step back from working IN your business for a concentrated time right now to work ON your business. Both you, your team and your company will be better off for it.

Visit Verne Harnish’s website, for helpful tools and guides. Verne is the king of meeting rhythms, quarterly focuses, and One-page Strategic Plans (You must check this out), which you can download samples of (email subscription required)

Andy

Interesting Stories around the Web:

• The Midyear Review Takes On More Weight
• Mid Year Review Form
• Step by Step Review: Conducting the Mid-Year Review Discussion