BizBoost News
Volume 9, Issue 1
For distribution 7/1/19; publication 7/3/19
Mid-Year Review

Can you believe that half of 2019 is gone already? That means it’s a great time to take stock of how your business has done for the first half of 2019 so that you can meet your financial goals for the entire year. 

On Track for Sales

Are you on track to make your 2019 revenue number?  The first step is to check your 2019 budget numbers for total revenue. (Don’t have a budget? – Check with us; we’d be delighted to discuss that service with you.)

Next, get your Income Statement for June 2019 Year-to-Date and check the revenue figure. Are you on track with your budget, or are you halfway there revenue-wise, accounting for seasonality? If so, pat yourself on the back!  If not, what promotions will you put in place to boost your growth for the rest of 2019?

On Track for Profit

Looking at the same Income Statement, check your net income figure. Are you on track with what you planned?  If so, great!  If not, the reason is simple: it will be either lower sales than expected or higher expenses than expected. 

If your expenses are too high, you’ll need to drill down into each of your expense accounts, including cost of goods sold, to see which ones are higher than expected. Were there some unanticipated costs?  Does your pricing need adjusting? Do you need more volume to cover your costs?  This is where we can help you with an analysis of where your opportunities are to increase profit. 

On Track for Cash

One more place to look is your cash balance. It can be uncomfortable when you are running short of cash for your business. If your balance is lower than you’d like it to be, it could be because of some of the factors mentioned above.  It could also be because you just purchased an asset like a truck.  If you need help with improving your cash flow, that’s another thing we can help you with. 

Mid-Year Review

This mid-year review can help you head off any small problems before they grow into big ones throughout the rest of the year. And it can keep you on track so you can meet your 2019 business goals.  

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Tweets

Insert a link to your newsletter, web site or blog before you post these:

Our latest blog: Mid-Year Review. Subscribe here: [link]

Are you on track to meeting your financial goals this year? Find out with our mid-year review: [link] 

Business Tip: If your expenses are too high, you’ll need to drill down into each of your expense accounts, including cost of goods sold, to see which ones are higher than expected. [link]

Are you on track to make your revenue goal this year? If not, what promotions will you put in place to boost your growth for the rest of the year? [link]

For your mid-year review, check your revenue and profit figures on your Income Statement for June 2019 Year-to-Date to see if you’re on track to meeting your financial goals this year. [link]

Head off any small financial problems before they grow into bigger issues. Find out more here: [link]

Are you on track for sales, profits and cash for your business this year? It’s a great time to review how your business has done for the first half of 2019: [link]

Mid-Year Review. Sign up for our newsletter: [link]