Mid-Year Business Planning: Coaching Tips to Finish the Year Strong — Cynthia Laden Newman
As summer draws to a close, this is the perfect time to reassess and recalibrate business plans. This period is ideal for evaluating progress and making necessary adjustments to achieve year-end goals. The following coaching insights are designed to help maintain focus and ensure a strong finish to the end of the year.
1. Assess Your Progress
- Evaluate whether 2024 business goals are on track.
- Review targets established at the beginning of the year.
- Identify milestones achieved to date.
- Pinpoint areas requiring additional effort.
2. Conduct Business Plan & Client Plan Reviews
- Revisit business and client financial plans.
- Assess the viability strategies in light of current market conditions.
- Consider adjustments to stay aligned with business plans or client financial goals.
- Schedule regular check-ins to maintain clarity and direction.
3. Review and Refine Your Plans
- Identify necessary adjustments based on progress assessments.
- Revise goals as needed and implement new strategies where appropriate.
- Prioritize resources to ensure alignment with revised objectives.
- Embrace flexibility and adaptability as essential components of business planning.
4. Foster Team Alignment and Engagement
- Ensure alignment with mid-year reviews and strategic objectives.
- Hold meetings to keep the team informed and focused on year-end goals.
- Maintain open communication and address any questions or concerns.
- Create a collaborative environment to enhance team performance and engagement.
5. Celebrate Milestones
- Recognize and celebrate significant achievements and progress.
- Reward accomplishments to boost team morale and sustain motivation.
- Use milestone celebrations to reinforce commitment to year-end goals.
- Promote a positive outlook by highlighting and celebrating progress and successes.
6. Learning and Adaptation
- Stay informed about industry trends and emerging best practices.
- Engage in continuous learning to gain new insights and strategies.
- Encourage ongoing professional development to foster growth and expertise.
- Adjust strategies and practices based on new insights and shifting industry trends.
7. Strategic Event Planning
- Plan a fourth quarter educational event or year-end appreciation event.
- Use the event to gather feedback and strengthen relationships.
- Engage directly in a meaningful setting to enhance connections.
- Increase loyalty and the likelihood of valuable referrals.
8. Self-Care and Personal Development
- Prioritize well-being as a critical element of success.
- Allocate time for regular self-care practices to maintain physical and mental health.
- Engage in personal development to enhance skills and resilience.
- Balance professional responsibilities with personal growth to sustain long- term productivity and sense of accomplishment.
As the year progresses into its second half, applying these coaching strategies will support the maintenance of focus and achievement of business goals. Effective business planning depends on consistent assessment, adaptability and a proactive approach.
Incorporate these principles to drive exceptional outcomes and ensure a strong finish to the year!
Cynthia Laden Newman is a forward-thinking strategist and creator of sustainable growth. Formerly a managing director with global financial services leader Morgan Stanley, she currently serves as the chair of a nonprofit foundation, an executive coach to senior executives, and a mentor to rising executives. The overarching theme of her career has been her laser focus on leadership, human capital, governance, problem-solving, and value creation for stakeholders and shareholders.
Connect with me on LinkedIn.
