267. Retail Planning Midyear Check-In: The Essential Steps
With host retail coach Wendy Batten
https://wendybatten.com/podcast-intro/
In This Episode:
I want you to ask yourself this question: “Why wouldn’t I be checking in mid-year with my retail business? Is there something I am avoiding? Am I making excuses like I’m ‘too busy’?” (Your words, not mine!)
As a retail coach, it’s my job to not only teach you the steps you need to take to do a midyear check-in in your retail business but also encourage you to get it done. Trust me: this will make a huge difference in your mindset and in how you run your beautiful business.
In this episode I’m walking brick and mortar retail shop owners through a simple yet powerful midyear retail planning process to stay on track for profitability and growth. You’ll learn what you need to look at during the review, how to adjust business goals, and how to build a profit plan to keep you flexible yet focused for the rest of the year. (Inner Circle members have access to a quarterly retail planning checklist to review your progress!) Whether you’ve hit your targets or need to pivot, this actionable framework will help you identify “creep” in your operations, celebrate your wins, and map out the next six months with confidence.
“Don’t plan for ‘fine.’ Plan for awesome. Your business deserves more than mediocre.” - Wendy Batten
Timestamped Topics:
- 03:00 – Flexibility vs. Excuses: Adjusting Your Goals
- 05:00 – Spotting and Reining in “Creep”
- 07:00 – Setting Real Profit Planning Numbers
- 09:00 – Month-by-Month Financial & Inventory Review
- 12:00 – Profitability Check: Are You Pushing String?
- 13:00 – Celebrating Achievements & Acknowledging Progress
Key Takeaways to Help with Your Midyear Planning Check In:
- Use a quarterly retail planning checklist to audit goals, revenue, and operations (Inner Circle members: We have one in the mid-year planning masterclass!)
- Identify and correct “creep” in profits, inventory, team standards, and operations.
- Use a profit plan template and plug in your numbers, margins, and expenses. This will help you to make sure you are on track to meet your financial goals. (This is a GAME CHANGER and we have one in the Profit Planning Micro-Masterclass for Inner Circle members.)
- Conduct honest month-by-month reviews of P&L, balance sheet, and personal workload.
- Always celebrate wins—acknowledging progress fuels motivation for the next quarter.
Your Next Steps:
First of all, thank you so much for listening. I would love it if you would subscribe & leave a review on your favorite podcast platform. Join the conversation on Instagram! Follow along with me at @wendybatten.biz and share with me your biggest midyear wins. I’d love to hear what you are most proud of in the first 6 months of 2025!
Inner Circle members have access to the Midyear Biz Review Masterclass and the Profit Planning Masterclass and Profit Calculator. Make sure you are logged in!
If you aren’t already a member of the Retailer’s Inner Circle, you can join us anytime - the doors are open!
Related podcasts we think you’ll like:
Episode 89: Money Talk & Mindset with Profits First Coach April Stroink
Episode 112: How to do a Midyear Review and Check-up
Episode 169: 5 Easy Ways to Improve Your Profit Margins (and Why You Should!)
About your host, Wendy Batten
In case we haven’t met yet, I’m Wendy, a small business coach and founder of the Retailer’s Inner Circle, where I help other independent shop owners learn how to gain the right business skillsets to see more profits, paychecks, and joy as they navigate running their retail business.
Through online classes, business coaching programs, speaking, and a top-ranked podcast, I’ve helped hundreds of retailers around the globe reclaim their dream and see the success they want from their beautiful shops. My signature private coaching community, The Retailer’s Inner Circle, has helped retailers around the world build their retail business skill sets and confidence.
I am proud to have been featured in several major publications, including my own business column in What Women Create magazine. I have been privileged to be a guest on top-ranked podcasts and sought-after as a guest speaker and teacher for several brands, associations, and communities that are passionate about the success of independent retailers.
When I’m not coaching, you will find me either DIYing and renovating my very imperfect old crooked cottage by the sea in the UNESCO World Heritage town of Lunenburg, NS, or blogging about our travel and RVing adventures and the weird fun things we get up to in our coastal village. I’d love to invite you to check out one of my free resources for real retailers at https://wendybatten.com/free-resources/
For more support from Wendy
Join Wendy’s CEO Planning Session for Retailers
Retailer’s Inner Circle - Join Wendy inside the best retailer’s community
Free resources for shop owners
Hang out and connect with Wendy on IG
All of Wendy’s programs and services for shop owners can be found HERE.
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If you want to be more of a rockstar, I’d love it if you could leave a review over on iTunes as well. Those reviews help other retailers find my podcast and they’re also fun for me to go in and read. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. So grateful for you! Thank you!