Articles

“Mid-Year Business and Financial Plan Assessment”

BUSINESS TIPS FROM THE EDITOR

July 2025

Richard T. Hendee, Editor
The Silver Fox Advisor

“Mid-Year Business and Financial Plan Assessment”

Well, 2025 is half over, and the month of July is a great time to take a look at your 2025 Business and Financial Plan and assess where your business is actually vs. what you foresaw back in November or December of 2024.

Obviously, there are things that have happened that you probably didn’t plan, on like maybe a key employee leaving or an expansion opportunity that you just could not turn down. And there likely are some big picture uncertainties which are out of your control like tariffs, the excitement about AI and the unrest in various parts of the world.

But as I stated, July is great time to take a deep drive into your business and financial plans and determine what adjustments you may need to make to either get back on track or take advantage of the great results you experienced in the first six months of the year. After all, no plan should be set in stone, and you as the leader of the business need to demonstrate to your employees, your vendors and your customers that your vision and skills were responsible for the business’ great performance in the first six months and that you are ready to make the next six months ever greater. Conversely, if there were problems and issues in the first six months that prevented the actual results to be less than planned, then your leadership skills need to take a different turn and corrective actions might need to be developed and shared with your employees, vendors and customers. Either, way July is assessment time!

Further, I am sure there is probably one reader of this business tip article that didn’t do a 2025 business or financial plan and has been coming into the business every day hoping, and maybe doing a little praying, that everything is going great and the business will do better that it did last year.

If you are that one reader, don’t lose this mid-year assessment opportunity to take a step backward for a day or two, and maybe have a meeting with your key employees, and as a team evaluate where you are today, and together create a short couple of page business and financial plan for the last six months of 2025. The business plan should include some goals and objectives that can easily be measured and plans developed to achieve the goals and objectives. The Financial plan should have some goals regarding sales growth, expense cuts and a bottom line net profit that might be shared with the employees if the goals are met.

If you need help with assessing or creating a business or financial plan, I would recommend you seek an experienced business advisor, coach, consultant or mentor with a financial or business background for your business: Contact a Silver Fox Advisor. Remember, having experience on your side always helps.

We encourage you to visit our Website at www.silverfox.org or www.silverfoxadvisors.com to select a Silver Fox Advisor and also to learn more about the Silver Fox Advisors and their businesses, as well as our great programs and community outreach endeavors.