Gotta tell you, a little chill ran up my spine yesterday morning, as I read the WordPress Daily Prompt: “Write up a mid-year State Of My Year post”. I know, it doesn’t seem like such a big deal. Certainly nothing to get into a sweat over. I agree.
“So”, you’re probably asking, “What’s with the chills?”
It just brought me back to the days when I was a partner in an ad agency. The half-way point in the year, was when we did our ‘reforecasting’. Any idea what I’m talking about?
Well, it is sort of like a state-of-the-year. Financially-speaking. It’s the time when management adjust their projected revenues, expenses and anticipated bottom line, based on actual numbers. To see if you’re still on track with the plan you committed to, at the beginning of the year. To see if you’re doing better than plan; or, worse. To figure out how you’re going to end the year; and how you’ll get there.
This is not an exercise to be taken lightly. It’s serious stuff. And the last thing you want is to have to tell your boss, or your Board of Directors or your shareholders, you’re going to have to re-adjust down. So unless you’ve had a better-than-good year to the midway point, with equally good prospects for the balance of the year, most executives dread Continue reading