Your financials for the first half of the calendar year 2025 should be generally ready for a good review by now. The plans architected last fall have been implemented, and the results of those initiatives should be showing signs of contribution or not. As leaders, we take some time at the beginning of each year to roll out the plan. We also take time in late fall to review the progress, so plans for the subsequent year begin to be shaped accordingly. Sometimes we skip the quarterly or semi-annual reviews, based on the gut feeling that things are going as planned.
As leaders, you should never completely dismiss your gut level as a checkpoint for progress or lack thereof. On the other hand, having data and making decisions based on the data is a far more productive path. Your general thought that revenues are higher than prior periods may lead you to the incorrect conclusion that net profits will also increase. That is a very basic statement, and we can all find issues with it, mostly around self-perspectives, like do leaders not look at data, etc. Unfortunately, when questions are asked, data is somehow unavailable to back up actions or lack of actions to change something that is not working.
Confirming that the 2024 plans for 2025 are making the anticipated contributions halfway through the year is an excellent reward. Equally, though, when the 2024 plans are not delivering as planned, adjustments need to be made. If the gap and trend between planned and actual are widening, then the timeliness of the review becomes even more critical.
If your leadership team is not typically gaining performance insights from various data points, how can they lead to a better and brighter future? Metrics are key to analyzing the results of input and action on outcomes. Without capturing and reviewing the business metrics, leadership is guessing about the future.
This week is a little over halfway through the contribution days of the calendar year. We lose a few productive days early in the year, some late in the year, and a few holidays are scattered throughout the year. So now is the time to commit to reviewing your progress. Gather the necessary financials and other key metrics and dive deeper into the outcomes. This is the opportune time to make adjustments. If things are going well, what can you learn from those improvements and improve even more on them? If the present results are not trending correctly, what can be understood to make adjustments to correct or review the approach to fix the trend?
So, this week, it is up to you to set aside the time to review your business, acknowledge your successes, and make adjustments where needed to put it on the best track to achieve outstanding results in 2025.
Looking for insights on how to review for greatest effectiveness? Give a Promise Guide a call at JKL Associates – MI (313) 527-7945 or FL (407) 984-7246
Journey On!
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Celebrating 30 years of Delivering on “Promises”
