Onto The 2nd Half Of The Year

“It’s not how you start that’s important, but how you finish.” – Jim George

This past week represents a big milestone for every business – the end of the first half of the year, and the beginning of the second. This is a great time to reflect on what needs to be done to make the back half of the year a success.

So, where, or what do you need to focus on to produce a strong H2?

The answer is super simple: do more of what went right and less of what went wrong.

More of what went right

The economic climate for most businesses in the first half of the year was not a favorable one and there is little to suggest it is going to improve anytime soon. With similar conditions expected, honing in on what went right is the first step towards a great second half of the year.

After establishing what specifically worked well for the company, figure out the most efficient way to double down on it. If you get the same results, continue to keep doubling down until it doesn’t.

Less of what went wrong

Step 1 – understand what went wrong and why

Step 2 – doing less of what went wrong

Sounds obvious but it’s something that can be easily overlooked.

Inspecting what you expect out of each category or area that led to underperformance is crucial. Were there individuals lacking the necessary capabilities? Processes that weren’t efficient enough? Tools that required additional capabilities? Or other factors contributing to the underperformance?

Once you understand what went wrong, you can assess whether adjustments need to be made or if a complete pivot is necessary.

There is also a 3rd category for individuals who don’t know if they fall into either of the above. It’s the “Not Sure” category.

Not Sure

The “Not Sure” category is the toughest place to be. If you are uncertain about your performance in the first half of the year, it means that you most likely are not hitting on all cylinders in one of three areas.

   1, Performance Scorecards

Performance scorecards are the lifeblood of the organization. You have an annual plan that everything is measured against. The scorecard is how individuals are measured at hitting the annual plan.

If business scorecards are not operating as such, you need to revamp how you are thinking about your scorecards from a holistic approach.

   2. Standard Operating Procedures

We touched on the importance of SOPs in our previous article: Do This To Keep Your Business Running Smoothly During Change.

SOP’s allow your business unit to be accountable both up and down. They provide guidance, clarity and direction to your business on how to get tasks done in efficient ways.

If employees are not using these processes, chances are they need to be inspected because they are either not efficient or need to be updated.

   3. Data

The “Not Sure” category includes individuals who lack trust in the data they collect, collect incorrect data, or lack the necessary data they need to make an accurate analysis.

These are significant issues that demand immediate attention and should be escalated. Data has never been more accessible or easier to analyze quickly and effectively than it is today so make sure your organization is leveraging the opportunity.

Simply put, having incorrect or missing data is just not an acceptable excuse in today’s world.

The 2nd half of the year can be an exciting time for businesses as they reach for new heights or scary as they struggle with understanding whether they are moving in the right direction.

Having the right foundation in place after analyzing the first half of the year is a key component to a strong second half.

If you’re worried about the direction your business is heading, Bratti + Co is always ready to help and make sure you have the right north star and correct coordinates in place to succeed.

Let’s get to work.