Mid-Year Goal Check: Track Your Progress, Consider Changes

Goal Setting

We mentioned last month that a good business practice is an annual or semi-annual prospect and client coverage review checklist. Another good business practice is a mid-year review of your personal and agency goals.

If you took our suggestion from December, you developed your SMART goals for 2024, and as we approach mid-year, now is the ideal time to review them. (As a reminder, SMART goals are Specific, Measurable, Achievable, Relevant (and Results-driven), and Time-bound.)

Your mid-year review of your annual goals will help you track your progress and give you the opportunity to make changes. That will drive you toward achievement of your targeted objectives. Your review can lead you to a clarity of purpose, increased production, greater efficiency, and self-satisfaction.

Here are five steps to consider:

1. Start by listing each of your goals for the year. Consider whether each is still something you are aiming to achieve before year-end. It is okay to change your goals as the year progresses.

2. Think about what milestones or smaller tasks can help you achieve each goal. Are you making progress? Your mile markers will help you measure progress toward each ultimate goal, as long as each milestone is measurable. Think date or quantity – e.g., “I can achieve this task by x date” or “I can increase sales by 5% monthly, ultimately leading to a 60% annual boost.

3. Are the deadlines (or quarterly achievements) you set at the beginning of the year still possible? Or do you need to make some adjustments? Think about whether you need to reprioritize or throw out any of your goals.

4. Did you include a reward for yourself when you set your goals? Some experts suggest a reward system can help motivate you. For example, if one of your goals for 2024 is to get more involved with your local chapter of CAHIP (the California Agents and Health Insurance Professionals association), how is that going? Have you attended any meetings or events? Did you join a committee yet? If so, maybe you can reward your achievements with a day of golf or an indulgent dinner. Maybe you can mix business with pleasure and share the golf outing or dinner with a colleague from CAHIP or your local chapter.

5. Forgive yourself if you go off track. It’s been said that life sometimes gets in the way of living. We all know that life and business are often unpredictable. There are many reasons why one or more of your annual goals could have gone off schedule. What’s important is that you recognize the issues and can commit to getting back on track. Don’t beat yourself up; adjust your timeline and move ahead.

As I noted in SMART Goal Setting Tips for Insurance Brokers for 2024, statistically, fewer than half (46%) of people keep their New Year’s resolutions for at least six months. Only eight percent keep them for the full year. If your mid-year review reveals that your goals need adjustment, that’s okay. Pick yourself up, dust yourself off, and start again. Learn from your mistakes. Don’t be discouraged. Setting goals is a big step toward pushing you to achieve greater sales success.

Word & Brown offers a variety of tools, tech, and support to help you be more successful. Talk with your W&B rep about how we can help you boost your sales and retention. If you are not yet working with us, call (800) 869-6989 to find out how you can get started. Or register using our online form.

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