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Mid-Year Performance Check-Up

With 5 months of the year left to go, how is your performance thus far? Are there some areas of your practice that need more attention? Where are you budget-wise?  

Taking the time to pause and evaluate your current progress, will help you identify any open or burgeoning opportunities and set intentions for finishing the year out strong.

Read on for a few tips and strategies for ensuring you close out 2017 successfully:

1) Assess: Take a critical look at your year-to-date performance and spending. Identify what goals were met, which fell short, and any obstacles that stood in your way. Ask and answer the following questions: Were there particular steps you took to close a sale or acquire a new lead? Did you follow those steps consistently? Could those steps be shortened? Were some steps more effective than others? Did you try a new marketing tactic or social channel? If so, was it effective? Do you know your current advertising ROI?

Recap the evaluation by writing out your overall strengths and weaknesses for the year and highlighting any action items.

2) Plan: Next, calculate what you need to accomplish your yearlong goals and/or quota for the remaining year. A good rule of thumb to follow is you need three times your quota in your pipeline in order to hit your goal. Determine how much budget you have left and if you can afford to double down on areas (steps, social channels, and advertising campaigns) you know are effective from your previous year’s and current year-to-date performance.   

If you are working with leads, group them into these categories: 1) Likely to close before year end, 2) Likely to close in the New Year, and 3) Unsure. Write an action plan tailored for each group including which marketing platforms you will be using and why. Determine how much time per week you want to spend on each category.

Use this exercise to help you write out your goals for the rest of the year including monthly benchmarks. Be sure to take into consideration your previous sales trend data to set goals that are relevant.

3) Act: Schedule a weekly 30-60 minute meeting with yourself. This is your time to review your progress and map out your sales, clients, and listing/or lending opportunities for the month. Ask yourself if your weekly agenda is in line with your monthly and yearlong goals. Restructure your tasks if needed so you can keep a primary focus on the projects and activities that will help you achieve your goals.

4) Acknowledge: Recognize your accomplishments and your setbacks by paying close attention to your benchmarks. The more attuned you are to your progress, the more likely you are to succeed. Reward yourself when you reach a goal and see how often you can exceed your expectations.

Performing a mid-year business check up will help you stay on track and pin-point which parts of your business require more attention. By having a clear understanding of your current well-being, you can pave the way towards a profitable year end.