I know, I know. Technically, we’ve just ‘closed the books’ on the end of the financial year and started a new one. But if you’re anything like me, the end of the financial year isn’t anywhere as significant a ‘line in the sand’ as the Christmas/New Year break. For me, 30 June represents the ‘half-way’ mark in the year. And what does any good coach do at half-time? Delivers a rousing half-time address. :-) Here it goes … How are you traveling in this game called your business? Two quarters played for 2010 … are you happy with your score? The ground has been rougher (for some) than first expected, and well-thought-out strategies may have given way to rough-and-ready (scrappy) tactics. But that’s OK, you play the best game you can with the players you have in the conditions of the day. How does your game plan need to change for the second-half? Do you need to rotate players or change your plan of attack? Is it time to stop playing defense?
Remember, the second half of the calendar year always goes faster than the first (much, much faster), so if you need to change strategies, you need to change NOW. We entered this business year amongst a bit of nervous confidence (we were supposedly coming out the other side of the GFC), and we’ve been playing in that context now for more than 6-months … we know the state of play. The question is, are you playing the best game you can in that context, or are you still using last year’s plays? Now is a great time to take stock, review your business performance and chart your course of action for the next six-months.
The end of the financial year is a great opportunity to look at the financial score (resist the temptation to *not* do your numbers until tax deadlines or your accountant requires them). While you’re at it, look at other key indicators in your business, and determine if you’re on track to reach the targets you set for yourself at the beginning of the year. Do you need to adjust the targets? Do you need to change the tactics? Does the overall strategy need some work? Tell me, what will you be saying to yourself/your team in *your* half-time address?
