Summertime can mean extra vacation time and slower days, but it also marks the halfway point of the year. It’s a good time to take quick stock of the year’s progress and fit in a mid-year review of your small business’ 2019 goals. By June, the excitement of January’s goal-setting can seem like a distant memory. Renew your dedication to the future success of your business by making time to sit down and go over the current progress of your 2019 goals. Review your financial, marketing, management, professional development, and other goals; doing so will help you advance your business and reach the end-of-year deadline.
Pine and Company, your Keller small business accounting firm, is here to help when you need advice or support growing your business and making the most of its finances. If you would like support with your mid-year goal review, give us a call and let one of our certified public accountants give you peace of mind that your business is running as profitably as possible.
You can reach us at (817) 581-3223.
Note any progress you’ve made towards each goal.
Once the year gets going, regular updates to your goals’ progress reports can get lost in the shuffle. At this point in the year, a few goals may have already been accomplished (if so, bravo!), or a couple may have been put on hold for one reason or another. Take time to sit down and review your list, updating it to reflect each objective’s current progress. This is the best way to ensure your daily priorities are in line with your vision for the future.
Create short-term action items to refresh your list of goals.
Once you review your goals, make an updated list of at least two to three short-term action items for each. What do you need to accomplish within the next couple weeks, or the next couple of months, in order to maintain a December 31 deadline? For instance, if one of your goals was to find a more affordable IT service, you could set a small goal to review pricing and service offerings for at least four to five providers by the end of the month. These smaller tasks make large goals attainable and create urgency with tighter deadlines — especially for projects that may constantly be pushed to the back burner.
Look over your budget and cash flow projections for the year.
Just like your annual goals for marketing, management, human resources, and professional development, your financial goals need to be returned to throughout the year. A critical review of your cash flow management, bookkeeping, and payroll activities to-date can help you discern whether your 2019 projections remain on course. Don’t wait until the end of the year to call in the experts; for help with mid-year financial reviews, reach out to your Keller small business accounting firm.
Schedule monthly reminders through the end of the year.
Probably for you, like many small business owners, the fall and winter mean full calendars and little time left for big-picture vision and planning. Counteract this by setting up monthly reminders to regularly review and update your 2019 goals. You can also use this time to note action steps for the upcoming month. Be sure to treat this time as you would any other appointment and avoid other tasks from disrupting this strategy session.
Involve key players.
Don’t perform your small business’ goal reviews alone. Schedule a quick touch-base with the other leaders at your company to ensure that all of you are actively working towards achieving your 2019 vision. Together, brainstorm additional ways you can make top goals a daily priority.
Contact your Keller small business accounting firm for financial goal-setting advice.
If you want 2019 to be your year to knock your small business’ financial goals out of the park, don’t do it alone. Get the help of Pine and Company and our team of knowledgable CPAs. We can translate the often-confusing business tax and financial jargon while helping you increase profitability and avoid tax penalties.
And for those small business owners looking for a long-term financial partner, our custom financial consulting service called SuccessWatch could be the perfect service. Our Keller CPAs help to identify problem areas within your business and offer proven solutions to control costs and give you confidence when making financial decisions. Call us today to learn more at (817) 581-3223.