by John Gross
It’s officially mid-year 2025, St. Louis entrepreneurs! While global instability and economic uncertainties make it feel like a ‘coin toss’, as leaders, we must take this moment to assess our second-quarter performance and strategize for the Q3 and Q4. Are you on track with your 2025 one-year plan, or have circumstances pulled you off course?
Now’s the time to ask the tough questions: Are your initial goals still relevant? What’s changed in your industry, your customer base, your supply chain, or your financial assumptions? What new risks and opportunities have emerged?
While I generally advocate for sticking to your guns, the current climate absolutely warrants revisiting your annual plan.
To specifically identify risks and opportunities, gather your leadership team for a comprehensive SWOT analysis. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats:
- Strengths are what your business excels at, setting you apart from competitors.
- Weaknesses are internal factors hindering your optimal performance.
- Opportunities are favorable external elements you can leverage for a competitive edge.
- Threats are external factors that could potentially harm your organization.
List and sort your insights into these four categories. Then, collaboratively select the key areas your team needs to focus on for the remainder of the year. (Try to only select 7-10 items.) Finally, ask yourself: What’s fundamentally different from when we developed the original 2025 plan? That’s your litmus test for necessary pivots.
Leading a business successfully, especially amid uncertainty, demands both focus and flexibility. Good luck with your mid-year review and let your data, not your emotions, drive the next moves!
John Gross is an EOS Implementer who helps small and mid-size businesses stop fighting fires & start growing by helping them take control. You can contact John at John@DrivingChangeInc.com or call 636.667.0579.