The Essentials for your Mid-Year Review
Regardless of whether or not you met your goals for the first half of the year, this is the perfect time to step back, reflect on your performance, and set the stage for an awesome second half of 2021. A mid-year review is also critical if you manage a team. Everybody needs to be on the same page moving into the back half of the year.
Let’s take a look at some of the areas you should cover, for yourself and your team, as you walk through your mid-year review:
- Performance-to-goal: Assuming you started the year with tightly-defined business goals, how well are you doing relative to those goals? Are you on-schedule with regard to your transactions? If not, where have you fallen short?
- Prospecting: Are you sticking to your daily prospecting goals? How well is your team performing with regard to prospecting? Are you holding them accountable? If prospecting is a weak link in your business performance, do you have to intensify your role-playing efforts?
- Time management: Closely related to prospecting effectiveness, how well did you manage your time during the first six months? In particular, how effective were you at blocking your “screen time” when you should be prospecting?
- Accomplishments: Make sure you celebrate your accomplishments for the first half of the year. What are the great things you got done? Where and how did you push yourself and your team beyond expectations?
- Relationships: How effective were you and your team at building and nurturing relationships? Were you able to expand your sphere of influence? If not, how can you expand your sphere in the second half?
- SWOT: It doesn’t hurt to white-board an analysis of Strengths, Weaknesses, Opportunities and Threats for your business. For example, how is the inventory situation in your market changed since January, and what are you doing to adjust to that change?
- Tools: Are you taking full advantage of the tools of the trade in order to maximize your business? If you’re using Vulcan7, have you explored all of the available resources within the platform, such as For Rent by Owner leads? Or have you tried the StoryTellr video email program?
- Learning: What did you learn about yourself or your team during the first half of the year? Did you pick up any bad habits that effect your business, or your management style? Have you discovered any great business books or podcasts that you can share with your team?
- Balance: Do you feel that you are doing a good job of balancing your business with your personal life? If you are feeling burned out at times, you need to make some adjustments to get yourself centered in order to stay focused for your business.
- Coaching/accountability: If you have a coach and/or accountability partner, are you using them as much and as effectively as possible? Should you consider a change on either front if you think he relationship is falling short of your expectations?
- 2nd half plans: If you are falling short of your annual goals, what adjustments do you and your team need to make to turn the business around in the second six months:
- How many more prospecting calls do you need to make each day to secure the number of listing presentations needed to meet your goal?
- Do you need to increase your neighborhood prospecting efforts?
Take the time to review first-half performance by considering these basic questions. And don’t hesitate to revisit these questions as the second half progresses.
Keep reminding yourself of what’s important for your life and your business.
Have a great second half of 2021.
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