12Jul 2016

How To Do Your 6 Month Business Audit

Can you believe we are over halfway through 2016? It’s crazy! At FBH we are trying to regularly review where we are at in terms of our business goals. So we set aside quarterly reviews and a 6 month business audit.

How To Do Your 6 Month Business Audit

How To Do Your 6 Month Business Audit

It sounds fancy but it’s not. It’s a chance for you to have a look at the goals you set at the beginning of the year….. Or if you didn’t actually set any then now is the time!

Sometimes we get bogged down in all the day to day stuff that we lose track of the bigger picture. It’s useful to sit down and go through this process at least every 6 months. So much can change in that period of time and the more regularly you audit the easier it is to turn around any problems.

This is your audit so you can create it however feels best to you but I’m sharing the way we like to do it at FBH.

Goals

This is where you go through all of the goals you have set for your business. The big ones and the small ones. Are you on track? Are they still relevant? Do you need to add any? Do you need to remove any?

Statistics and Numbers

This will include you tracking and reviewing things like your Social Media stats (Facebook page likes, Twitter followers, Instagram followers etc). It will also include tracking your revenue, product sales, expenses etc. All that fun stuff. You can see areas you might need to focus more on or areas you might be able to cut expenses etc.

Services

Go through all of the services (or products) you currently offer. Do you need to remove any? Are there any you would like to add? Think about whether those services are actually earning you money and also whether you actually enjoy them. New biz owners in particular start off by offering everything but after a while you can start to tailor your services to the good earners and what you actually enjoy. For example back in my VA (Virtual Assistant) business I offered transcription services….. I HATED it. So I got rid of it, yes it made some money but it was totally out-balanced by how much I disliked doing it.

Branding

For most of us our brand is online and we need to make sure that we are putting the right brand image out there to our potential clients. It’s a good exercise to go through a brand review to first of all really look at what other people are seeing. Is it still relevant to your ideal client? Does it need an overhaul? Are you missing anything? The fabulous Allison over at Wonderlass has a fantastic blog post on doing a Brand Audit so instead of me trying to reinvent the wheel head over to her blog and check it out.

Social Media

I’m going to assume that most of you are using some kind of Social Media. Well it’s time to review it. What channels do you use? Are you using the right ones? Are there any you want to start using or stop using? Check out this great 30 Day Social Media Audit from Chloe Social if you want to dive into this a bit further.

We’ve created a little printable that you can use for this exercise but a pen and paper or even on the notes app in your phone will do fine!

After doing the review it is important to take action. New goals might fall out of this, new projects and there will likely be some strategy sessions too. Use this information to grow your business!

Do you do a business review? Are you going to start? Let us know!

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