Goal Getter: Mid-year Check In
While it’s hard to believe we’re already halfway through 2021, and what a year it has been for the spa and hospitality industry, we can’t lose sight of our aspirations!
We know sometimes this can be difficult, especially after such an unexpected year with no real understanding of what’s to come the remainder of 2021, but we’re here to help keep you grounded and give you tips that have helped us continue to succeed.
Now that we’re 6 months into 2021, now is the time to check in on your business standings from Q1 and Q2. Review everything that’s happened these last six months and compare it to your initial 2021 business plans.
Where do you stand when it comes to goals for the year? What needs to change over the next 6 months to make sure you are still able to hit any of those goals that may be falling a little behind?
A Few Tips To Help Guide Your Mid-year Review:
1. Look At The Big Picture and Small Details
The micro and the macro details are essential during your mid-year check in, so you’ll need to evaluate both. Look at the big picture, like where you want to see your spa in the next 5 years, while also reviewing the small details of what must be accomplished every day in order to meet that 5 year goal.
Are you implementing those daily tasks to ensure success? If not, it’s time to pivot your daily routines and get back on track.
2. Make A More/Less List
Sometimes our goals made in January no longer match where the business is headed only a few months later. It’s important to know that it’s okay to update your goals halfway through the year.
Analyze what goals are still attainable and relevant for your business and also decide if there are a few new goals that should be added and might be more of a priority than your original plans. In order to clarify what you really want to focus on, make a list of things you’d like to be doing more of and less of for your business. (Example: Spend more time analyzing your financial statistics.) Embrace that change, and adjust your 2021 goals accordingly.
3. Break Lofty Goals into Manageable Chunks
If there was a big goal set to be reached by the end of 2021 that doesn’t seem to be making progress - it might just be too intimidating. Break up that goal into small manageable chunks with accompanying deadlines to gain momentum.
For example, if you set expectations for your spa’s annual revenue that isn’t pacing to hit the mark just yet, find ways to tweak individual revenue streams and work towards achieving one hurdle goal each month. An easy way to fill revenue gaps that we’ve found is through evaluating our merchandise sales. By freshening up the retail space every so often and dedicating time towards your visual merchandising strategy, you may just find some additional revenue from an unexpected place.
Special Bonus: Our founder, Christina Stratton created a quick video when she was visiting The Spa at World Center Marriott to help walk through some best practices and tips for visual merchandising! Check it out:
We know reviewing business goals can be a rollercoaster ride with plenty of wins, but also a few disheartening moments. If you’d like additional guidance, or to learn more about ISM and how we can enhance and elevate your business, please contact us!