It’s definitely a good time to have a mid-year check-in to review the first half of the year. If you’ve worked with us this year, you already know we’re big on visualizing your data, so you can make insightful decisions about your organization. If you have a dashboard built, similar to the one above, you can easily track the health of your business. Here’s how to go about it leveraging the following 4 steps:

Step 1:  Review your KPIs (Key Performance Indicators):

• Tracking key performance indicators (KPIs) is essential for understanding how well your business is performing. Monitoring your new leads, revenue goals, and quoted vs. invoiced amounts provides insights into your sales and financial health. 
• For example, if your quoted vs. invoiced ratio stands at 7.4% (as in the above), there is a gap between potential and actual revenue, suggesting the need to improve conversion rates from quotes to closed deals.

Step 2:  Conduct a Budget Analysis:

• Analyze your budget to compare actualspending against plannedbudgets. For instance, if your actual spend in January was significantly below the budget, reflecting a 34% status, this highlights a potential underspend. This insight could indicate either a slowdown in operations or an opportunity to reallocate resources to other areas needing investment.

Step 3:  Assess Team Performance:

• This is a good time to monitor your team’s performance by reviewing hours logged and distribution of activities ensures balanced workloads and identifies areas for improvement. 
• For example, if one team member logged significantly more hours than others, this could suggest an imbalance in workload distribution. Addressing this ensures a fair workload and prevents burnout, fostering a motivated and productive team environment.

Step 4: Review Revenue Trends and Comparison:

• Analyze your monthly revenue trends and compare your year-over-year data to help gauge growth and identify seasonal patterns. 
• For instance, if your revenue for the first half of the year shows a steady increase compared to the same period last year, this indicates positive growth. This insight supports strategic planning and helps set realistic future goals.

Read “Develop Your Halftime Playbook – Plan for the 2nd Half of the Year” for more insight.