In football, halftime is the point when both teams head back into the locker room, assess their performance, and map out a formula for success in the second half of the game. In many ways, running a business is no different.
Here are four questions that help managers measure where they stand, and how to capitalize on valuable opportunities in the six months ahead:
- Are specific tasks and responsibilities being handled by the appropriate employees/teams? In a lot of cases, the biggest impediment to productivity has something to do with the specific staffers charged with handling that task. Mid-year is a perfect time to assess each staffer’s progress, determine where adjustments need to be made, and what personnel changes need to be made to maximize productivity and performance in the second half of the year.
- Is your message on-target? Most companies rethink their marketing campaigns at the beginning of each year. July is a perfect time to compare numbers and determine whether the message is really resonating with your target audience. If not, why not? And how can you correct it?
- Are you in tune with your existing customers? How is your buyer retention rate? Customer loyalty? Satisfaction? How much repeat business are you doing this year as opposed to last year? These are all effective gauges of whether buyers are on-board with the direction your company is headed in.
- What is the status of in-house personnel? Are your employees motivated? Productive? Are you retaining a high percentage of employees? It’s much better (and worlds more cost-effective) to be proactive and avoid a mass exodus than it is to stop the bleeding several months after the fact.
Source: “4 Sales Analysis Questions to Ask at Mid-Year,” Sales Benchmark Index.