Blog

Reflection

We’re half way through the year, what does that mean? June is a time for reflection and adjustment, it is a time to gather thoughts and ideas of how far you have come from the inception of your business/brand. There are a few things that should be considered when examining your growth and development over the first initial stages of being in business; and all aspects should be reflective of incremental growth, building expertise and preparing for the bright future ahead of you. Your progress report should reflect the following aspects of your business: consumer engagement, financial growth and benefits, and the state of employees’ production as well as satisfaction. There are many factors that go into measuring a company’s performance, the goal is to be successfully aligned with your ultimate vision of growth during this time.

The executive summary for growth consists of reporting the progress and components of your business through a detailed summary and timeline. When reflecting on performance and growth, have you been successfully and actively engaging in building a client portfolio. Having a solid consumer market and understanding the intricacies of product and service development is highly important. Throughout these months you should be able to gauge how many interactions you’ve had through sales, website visits and communications with customers buying and consuming your brand.

Another reflection of business performance is reviewing your finances and revenue. Establishing and evaluating financial growth throughout the first five to six months gives you a foundation to compare what your overall desired fiscal goals should reflect. You are then able to prepare for the next quarter and set new numbers to attain after implementing adjustments and changes. This time is an opportunity for you to adjust your prices and bet on your quality of work along with expertise in the field. It is an opportunity to recognize what works and what doesn’t. It is a time to evaluate leveraging your content, services and products to suit the growth that you project your brand and business can make through the next quarter and the end of the year. In conjunction with reflecting on revenue; it is a time when finances allow you to hire and add team members that will help continue to build your business with their specific expertise. You can begin to evaluate the expectations of current members and provide beneficial feedback that will help them align themselves with the mission of your organization.

Ultimately, when reviewing your progress over the last few months it is important to set intentions and goals. Key performance indicators allow for steady growth and alignment that forces you to gauge your growth through the indicators that best represent your business climb. KPIs provide necessary insight into your business performance that may include revenue per employee, or financial statements, and typically they reflect goals that you have identified for your personal business. KPIs vary between different businesses and ultimately you decide the metrics and numbers that need to be focused on, from website engagement, to product and service sales, the indicators are numerous. Overall, now is the time to review and adjust your business growth accordingly.

How can we continue to measure business performance: