How would you rate your performance this year? It’s hard to believe, but it’s almost mid-year. Don’t let this milestone get away from you; this is a great time to reflect on what’s working and not in your performance. But while it’s easy and customary to focus on the year-to-date metrics versus objectives, my challenge to you is to use this milestone as a platform to drive a broader and more strategic conversation with your leadership. Think about it, the metrics are black and white and there’s little you can do to change them now – but if you focus on the strategy, you can meaningfully impact your and your organization’s performance for the back half.
- Why do you believe your strategy is still valid? Who cares if you knocked out your tactics if the strategy is off! Reminds me of the strategy matrix which shows that if you’re executing very well on the wrong strategy you’re just killing yourself faster.
- How has the market evolved? Time to reevaluate your macro trends assumptions. Ideally, these should not dramatically change, but there are always surprises.
- How has the competitive landscape changed? Consider shifts from complementary, replacement or substitute entrants.
- How can the relevancy and differentiation of your value proposition with your target audience be improved? Talk to you customers to validate before you answer this one.
- What was your biggest opportunity cost? You’ll never have a scientific answer, but if you think about where you spent most of your time and budget with little result the Pareto Principle will highlight your opportunity.
Mid-year is a great time to reassess and if need be change direction while still leaving enough time to make a difference in your performance this year. Answers these questions and you’ll drive better discussions with your teams. More importantly, the answers should shift your behavior and position you for improved performance this year.