We’re officially halfway through 2025—a great time for business owners to hit pause and take stock. Whether you’re scaling up, maintaining steady growth, or starting to consider a future exit, a mid-year review helps you stay proactive and make intentional decisions for the second half of the year.
Here’s a checklist I often recommend to clients to sharpen performance and create momentum heading into Q3 and Q4:
- Review Financial Performance
Start with the numbers. Where do things stand compared to your goals?
- Reconcile your year-to-date revenue with your original projections
- Assess profit margins and cash flow trends
- Review AR/AP to uncover any cash blockages
- Evaluate your debt load and available credit lines
Strong financial visibility sets the foundation for better decisions in every other area of your business.
- Revisit Strategic Goals
The world moves fast—are your goals still aligned with reality?
- Reassess the relevance of your annual objectives
- Adjust timelines or priorities in light of current market conditions
- Identify any pivot points or emerging opportunities worth pursuing
Mid-year is the right time to course-correct rather than waiting until December.
- Evaluate Team Performance
Your people drive your results.
- Conduct check-ins or reviews with key staff
- Spot opportunities for training or leadership development
- Look for morale or retention risks—before they become issues
Even small tweaks in team alignment can have a big impact on your operational success.
- Refresh Your Marketing Strategy
If your growth pipeline has slowed or your message is outdated, now’s the time to recalibrate.
- Audit your website, social media, and lead gen efforts
- Look at what’s converting—and what’s not
- Plan your Q3/Q4 content or campaign calendar
Marketing is often one of the easiest areas to optimize with a fresh set of eyes.
- Review Operational Efficiency
Are you operating at your full potential?
- Identify bottlenecks, outdated systems, or redundant workflows
- Explore automation tools like CRMs, billing systems, or project management platforms
- Consider where delegation or outsourcing might free up leadership time
Efficiency isn’t just about cost savings—it’s about scalability.
- Check Legal & Compliance Items
No one likes surprises—especially legal ones.
- Renew or revisit contracts, insurance, and vendor agreements
- Confirm that all licenses, trademarks, and regulatory permits are current
- Review employee handbooks and policies to ensure compliance with any new legislation
This is low-glamour work, but it protects everything you’ve built.
- Assess Exit Readiness (Even If You’re Not Selling Yet)
I always tell clients: run your business as if you might sell tomorrow—even if you don’t plan to.
- Update your business valuation or get a pulse on your market worth
- Organize key documentation like financials, org charts, and client lists
- Ensure your business can operate independently of you
Exit readiness isn’t just for sellers—it’s good management.
- Talk to Your Advisors
Mid-year is a smart time to check in with your trusted professionals.
- Touch base with your accountant, lawyer, and yes—your M&A advisor
- Get insights on any emerging trends, risks, or opportunities
- Ask the question: “What should I be thinking about that I’m not?”
Surrounding yourself with the right counsel can give you clarity that others miss.
Final Thought
A business doesn’t need to be perfect—it just needs to be aligned. Doing a mid-year review gives you the space to reflect, prioritize, and act with purpose. If you’re ready to talk about succession planning, exit options, or how to position your business for long-term success, I’d be happy to chat.
Jim Friesen, MBA, CPA, CM&AA
Founder | Partner
