We’re now six months into the financial year, making this the perfect time to review your business goals and assess what’s working and what needs adjusting. A strategic mid-year review can determine whether you coast to June or finish strong.
Why January Matters
The start of the calendar year coincides with the midpoint of the financial year. Many business owners set ambitious goals in July, but by January, the reality of trading conditions, staffing challenges, and market shifts has set in. This is your moment to be honest about what’s happening and make necessary adjustments.
What Worked: Capitalise on Your Wins
Start by identifying what’s gone well. These strategies deserve more attention and resources in the second half.
Revenue Growth Perhaps you’ve seen stronger demand in certain service areas. NDIS providers might find a particular support category has significant uptake, or successful expansion into a new region. Childcare centres with growing waiting lists can justify fee increases or expansion plans.
One family business client discovered their wholesale division was outperforming retail significantly. Recognising this in January allowed them to renegotiate supplier contracts and focus on what drove profitability.
Operational Improvements New systems saving time and money deserve attention. Cloud-based accounting giving real-time cash flow visibility or streamlined rostering reducing overtime costs add up quickly.
For childcare operators, successful implementation of new child management systems or improved educator retention are worth building upon. NDIS providers who’ve refined service delivery to reduce travel time or improved plan management processes should maintain these gains.
What Didn’t Work: Honest Assessment
Identifying underperforming strategies early avoids bigger problems later.
Underperforming Services Are service offerings not gaining traction? A NDIS service category without expected client numbers, or a before-and-after school care program running at low capacity might need reconsidering. Rather than persisting, evaluate whether resources would be better allocated elsewhere.
Cash Flow and Pricing Be honest about your pricing structure. Are you winning work but not making adequate margins? This is common in NDIS where providers underprice services to win clients, then discover they can’t deliver profitably. Family businesses often struggle with pricing legacy clients appropriately as costs increase.
If cash flow has been tight, understand why. Slow-paying clients, overstocking, uncontrolled expenses, or unrealistic revenue projections each require different solutions.
Reallocate Resources Shift time, money, and people from underperforming areas to strongest opportunities. This might mean moving marketing spend to channels that convert, investing in additional staff for high-demand services, or upgrading systems delivering measurable efficiency.
Set Realistic Revised Targets If original revenue projections were optimistic, revise them to reflect reality. This allows sound decision-making. If you’re outperforming, raise targets and ensure you have infrastructure to sustain growth.
Address Emerging Risks Identify risks before they become crises. Early warning signs of cash flow pressure, key staff considering departure, or regulatory changes give you six months to implement mitigation strategies rather than firefighting in June.
Our Approach
We help Brisbane businesses navigate mid-year reviews with sector-specific expertise. Whether you’re managing CCS regulations and occupancy rates, NDIS pricing and compliance, or family business succession planning, we understand your challenges.
Our approach involves reviewing budget versus actuals, identifying variance causes, reforecasting cash flow, and helping you make informed strategic decisions based on your actual financial position.
Act This Month
Block out time, gather your financial reports, and honestly assess where you stand. The businesses that finish the year successfully aren’t the ones with perfect July plans. They’re the ones that adapted when reality didn’t match expectations.
Ready to review your goals? Contact the Advivo team to schedule your mid-year business review and ensure you’re on track for a strong finish to FY2025/26.
