We are at the tail end of Q2 and that means you have five months of real business data behind you and seven months left in the year to work with. This is the perfect moment to stop, look at the scoreboard honestly, and make one smart adjustment before summer arrives.

In this episode of Small Business Simplified, Karin Velez guides you through a 30-minute mid-year check-in built around five simple questions: What came in? What went out? What made the most money? What cost the most time? And what’s the one thing to do differently next quarter?

She walks you through the four numbers you need to pull, the benchmarks to compare them against, and exactly what to do with what you find, whether you’re ahead of target, behind it, or somewhere in the middle.

Pull up a seat at the table and let’s get into it.

Quick Notes

• The Four Numbers: Total revenue / Total expenses / Annual target / Revenue-to-date percentage

• The Five Questions: What came in? / What went out? / What made the most money? / What cost the most time? / What’s the one thing to do differently?

• Quick Benchmark: At 4 months in, a consistent business should be near 33% of its annual revenue target.

References

1. U.S. Small Business Administration (SBA) — Business Planning, Goal Setting, and Mid-Year Reviews

https://www.sba.gov/business-guide/manage-your-business/strengthen-your-business

2. SCORE — Business Review Templates and Small Business Planning Resources

https://www.score.org/resource/business-planning-financial-statements-template-gallery

3. Small Business Development Centers (SBDC) — Financial Review and Business Advising

https://americassbdc.org

4. Harvard Business Review — Goal Setting, Business Reviews, and Performance Management for Small Business

https://hbr.org/2021/10/make-your-goals-smarter

7. Babson College — Entrepreneurship and Small Business Performance Research

https://www.babson.edu/academics/centers-and-institutes/blank-center/

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If you want more mini systems like this you can implement in your business, plus deep-dive workshops that we spend an entire month nurturing you through, come join us in The Growth Table Small Business Collective. No noise, no hustle culture, just a table full of people who are genuinely rooting for each other. Head to GrowthTableSBC.com