Over the past few weeks, we really hammered down the importance of goal-setting and planning and how it is essential to success both personally and professionally. This is something I know to be true from first-hand experience and working with clients. Equally important is reflection on these goals and the progress made toward achieving them.
The process of reflection gives business leaders necessary insight to make strategic decisions. It creates opportunities for celebrating successes and examining weaknesses. The current environment we live in is fast-paced, ever-changing, and global. Regular reflection and realignment of goals is a requirement to stay on track and ahead of the competition. I recommend taking the time to do this regularly but especially at mid-year.
Here are five questions to consider:
What are the major successes so far this year?
Take a look at what you and your company are doing right and have a party! When successes are celebrated, it increases motivation and engagement, resulting in higher productivity. You also need to know what is working because these are the high-payoff activities that you should focus the majority of your time doing.
What were the biggest challenges?
Review the areas where you and your organization are struggling. What goals have you made the least progress toward? Was there an unexpected catastrophe that could have been prevented? Did the original SWOT analysis underestimate your competition? If you want continued success, you need to be proactive in identifying obstacles and plan for them. When you fall short, you want to understand why and avoid repeating the same scenario in the future.
What have you learned?
This is self-explanatory. Look back at the past six months and think about what you know now that you did not know before. Apply what you have learned to your future goals and plans.
What are your Key Performance Indicators (KPIs) saying?
Look at the numbers, analyze and interpret them, and then make necessary changes. Measuring KPIs is worthless if you do not utilize the insight they offer.
How can you improve results?
Once you answer the first four questions here, this should be clear. What can you do to increase revenue, bring in new clients, grow your business?
Automobiles start breaking down without regular oil changes and maintenance. Computers and electronic devices need to be updated and restarted regularly or they will fail to operate. Businesses (and business leaders) need the same attention. Take some time at mid-year to refresh, refocus, and recharge.