38: How to Do a ‘Year in Review’
Welcome back to Making Good, the podcast for small businesses who want to make a big impact.
I’m your host, Lauren Tilden, and this is episode 38.
I know a lot of us are eager to close the book on 2020 and are really hoping 2021 looks different. But BEFORE you do, I would encourage you to do a Year in Review of your business?
A Year in Review is exactly what it sounds like: an exercise of really looking at your last year in business and reviewing how it went -- the good, the not-so-good, and most importantly -- what you learned.
Those of you with a background of 9 to 5s may be getting flashbacks to performance evaluations, and let me just say here that this is not that. It’s an important opportunity to really step back from business and look at it objectively. It’s a chance to celebrate how much has changed in a year, and find places where things could be EVEN BETTER in the next year. Even the “not so good” parts of a year can be full of important information that can put us on the right track moving forward.
In this super super short and sweet episode, I’m going to walk you through the process I am using this year to do a year in review. It’s a simple list of questions, but sitting down to actually DO this is powerful. Ya gotta take action.
If you would like to download a PDF version of this to walk you through it, head to makinggoodpodcast.com/yearinreview.
Okay, let’s get into it my process for doing a Year in Review.
Make a quick timeline of the year
If you asked me, How was 2020 for your business?
I’d have a hard time answering it without making some notes for myself first. A lot can happen in a year! Which is why, before you go into the questions that I use for the Year in Review, I would suggest that you make a quick outline of events in your business (and the world) to create an overview of the year.
Don’t overthink it, just jot down some notes, looking at your calendar if it helps.
For example, here are some things I’d write in my outline.
started strong with S7, ramping up workshops and in person events
COVID hit, closed Station 7 in March
launched online shopping in March
launched in May
released new collection in September
discontinued the Good Sheila Weekly
picked up new stockists in new states for Good Sheila
did VIP with Mindful Social
bought Digital Course Academy
When you’ve refreshed your memory and you have a bit of an “at a glance” look at your year jotted down, it’s time to spend some time journaling on the Year in Review questions.
What went well?
What didn’t go well?
What do I want more of next year?
What do I want less of next year?
What am I proud of?
What did I learn?
As you’re answering these questions, try to think as comprehensively as possible. Yes, think about your business revenue and other quantitative measure of your business’s performance.
But if I were to guess, I’d say that you probably started a business for reasons aside from just making money. Let’s evaluate those things too.
Think about things like your work/life balance. How much time you were able to spend with your family? How was your mental health? What did it feel like working in your business? How fulfilling did you find it? When did you have FUN? And, most importantly, what was the overall IMPACT you made?
Okay, to recap them, here are the questions to ask:
What went well?
What didn’t go well?
What do I want more of next year?
What do I want less of next year?
What am I proud of?
What did I learn?
I think you will find going through this process to be super powerful. If you’re like me, you’ll come out of it feeling genuinely proud of myself. Sure, there are always things I could have done better. But a lot can happen in a business in a year. It can seem slow while you’re in it, but when you look back at what happens in a year, it feels pretty good.
If you’ve finished them, and you’re ready to officially finish the chapter of 2020 and start 2021, I have good news for you! In the next episode, episode 39, I’ll be joined by a planning EXPERT and with her guidance we’ll walk through creating a Rock Solid Plan for 2021. Full disclosure -- I have already recorded this episode and it is GREAT. If you like the idea of entering 2021 with a plan that fires you up and will actually get done… don’t miss this one.
Friends. Did you do a Year in Review? LET ME KNOW! I’d love to hear any big takeaways from you.
Check out my Instagram (@makinggoodpodcast) my Year in Review!
You can find links to the resources I mentioned at makinggoodpodcast.com/38, and if you’d like the worksheet version of the Year in Review, head to makinggoodpodcast.com/yearinreview.
If this is your first time tuning in and you’re interested in hearing more about my businesses, check out my plant-inspired stationery company goodsheila.com, or Seattle retail shop Station 7, station7seattle.com.
Thank you for being here, and for focusing on making a difference with your small business!
Talk to you next time.