Is your business strategy for the rest of 2021 in place?
I like to think of the second half of the year as another opportunity to pursue your goals and aspirations. Think of it like having a second chance to re-write a test - what would you do differently? Prepare to make a home run, I presume? Well, that's what this post is about, to help you ensure the next six months fares better for you and your company.
Critical Questions to Ask Yourself as a CEO/Business Owner
How do I plan to be successful in business in the second half of the year?
What can I do to ensure short-term and long-term business growth, as well as the company's overall success?
It's essential to recognise the significance of every business day. Here we are - 6 months into 2021, and time isn't stopping for anyone. You can't get the past days and months back, so you have to make the coming months count.
That is why you should review your business plan/marketing plan to determine what business goals must be met for the rest of the year. Also, examine your profit and loss statement for the first half of the year.
You have quite a bit of work to do with your marketing strategy, but before you begin, here are two other strategic moves I recommend that you take to set your business up for growth in the second half of the year.
i. Gather and Analyse Data
Every business has some form of data; start collecting this information. and self audit as below:
How many times you interact with customers
How many touch-points do you have with a prospect until they make a decision?
How do you evaluate the effectiveness of social media and/or other marketing channels?
How much time do you spend on admin or networking? From consumer interest to closing a deal, what are all the steps in your process?
Where is your organisation now compared to six months ago – and where would you like it to be by the end of Q4?
Is the business on track to meet its objectives?
Is it possible that the company's objectives will be exceeded? If that's the case, how can you go beyond the company's existing projections?
I'm hoping you understand my point. If you want to make real progress with your business in the months ahead, you'll need these details. Data will help you figure out where you are and how to get to where you need to be. It's straightforward.
ii. Set Measurable Goals
Don't just set goals for your business; set measurable goals. Avoid using terms like "make more sales," "have more buyers," "have more engagement," "set more meetings," and "coach more clients." etc
Get the idea?
Move away from the generalities and be specific and put a figure on the measure of success you want to achieve. How many more sales are you aiming for? How many more clients do you want? What kind of engagement? How many more meetings should take place? How many more coaching clients do you want? How much money will you make?
If you've narrowed down your goals, you can start creating your schedule and allocating the time or other resources you'll need to achieve them. Since you already gathered the data, this part shouldn't be challenging to do. When it comes to your business, you must be straightforward and deliberate in the actions you take.
The next step to making these measurable goals achievable is answering the 'HOW' question.
I mean, if you were one of my clients and you said, "I want 30 new customers this year," I'd say, "Great, what steps would you take to get the next client"? That is how you begin. If you go through enough nexts, you'll be able to make the process a little more organised each time, figuring out the complicated little things that work and weed out the things that don't.
That's it! The steps above should inform your review process this month and it should be repeated as often as needed.
Review your marketing plan from time to time, your business plan, as well as other crucial business planning documents. Nothing stays the same, so you should be active, adapt and innovate. That's what informs growth, and that's how you can have a successful second half of the year - however you define success.
As a CEO, president, or business owner, there's always a lot to oversee. But unless you sit down and consider what is and isn't working at your company, six months will pass, and you will be very shocked by your business results at the end of the year – and it won't be the kind of surprise you want.
Now is the time for all CEOs, presidents, and business owners of big, mid-size, and small businesses to re-evaluate precisely what is and isn't going well in their businesses so that when the New Year arrives, there can be celebrations and cheers of what a year!!!!
Does your business need an in-depth audit to help evaluate 2021 so far or you need a consultation and insight to ensure your business marketing/branding on track. Growth Hacks is here for you. Please send us an email at email@example.com and let us start the conversation.