The beginning of the year is a time for reflection. A time to look back at your past year to see what went right, what didn’t and what needs to change.
While it is important to do in life, it is even more important to do in business!
That is why we want to share with you how to conduct a yearly review. It is easier than you think, but it is also so commonly skipped.
Why A Yearly Review is Important in Your Business
On our podcast, we’ve talked A LOT about the importance of a quarterly review and how to conduct one in your own business. And while that is a great first step and shouldn’t be missed, you need to take it one step further and perform yearly reviews as well.
A yearly review helps you look at the larger picture in your business, where as quarterly reviews usually focus on the one thing you were trying to accomplish in the past 90 days. So when you put everything together you get a more well rounded view of your business rather than just the day to day.
Remember this is the time to see if your business is supporting you and your big vision or if you need to shift gears. It is the first step in setting yourself up for a successful year of business.
So let’s dive into how to actually perform a yearly review.
1. Review what went right and what didn’t
Celebrate what went right. Take notes, is there anything you want to continue doing or try again (like maybe a new launch strategy that you tried that was an uber success!)
Be objective and honest with yourself when it comes to what didn’t go right. You will do yourself and your business no good if you sugar coat it. Make sure you keep track of the tactics or things that don’t work so you remember not to try them again or you know what needs to changed for the future.
2. Take stock of your systems
As you and your business grow, your systems and processes will evolve and change. It is important to try and be proactive here.
We have a whole podcast episode on how to get your systems in place before the new year. We highly recommend you take a listen if you don’t know where to start. (P.S. You don’t have to wait until the new year to do this!)
3. Review your online presence
A lot can change in a year. We’ve noticed that one of the most common things we let slip is our online presence. Sure, we might show up consistently but are we keeping everything else up-to-date and in line with our current message.
We actually updated our website at the beginning of the year because we realized a HUGE disconnect on our message. We had grown so much and became much clearer on things, but our website didn’t reflect that.
For social media, do the same kind of sweep. Check your profile pictures, your bios, etc. Map out any changes you want to make and get working!
You can also take this one step further and review the content and decide if you need to revamp your content strategy. But that is a topic for another day.
And review who you follow, the pages your like, etc. Are they serving you? Are they bringing you up or do they bring you down? Purge. Purge. Purge. You’re energy is sacred!
4. Look for education gaps
The online space is forever changing. And as your business grows, you need to grow with it.
Review what education opportunities you went through in the past year. Which ones served you? Take note, and be sure to plan for more in the current year.
For example, you might learn that courses are how you learn best and you know that you want to take your SEO to the next level this year. So an SEO course might be the best route for you.
Or maybe you found out that you really don’t need to learn the strategy, but rather you need a community and a positive and support environment. Then a mastermind might be best.
Just think about setting yourself up for success based on what your goals for the year are and based on your discoveries from the past year.
It is as simple as that! Conducting a yearly review is so important and provides you with so many insights to make your current year even better!