Mid-Year Money Check-In: Reviewing Your Business Finances Before Q3
Can you believe that we’ve already hit the halfway mark of the year!? Now is the perfect time to pause and check in with your numbers. Whether business has been booming or your sales are in a slump, it’s never too late to reset your goals before Q3 kicks off.
Don’t just look at this as just a financial review. Look at this as a moment of reflection, realignment, and renewed intention. As your CFO, we’re here to help guide you through your mid-year money check-in that will not overwhelm you.
Let’s talk about what to look at and how to assess where you stand. Then, we can move forward with clarity and confidence!
✨ Why Your Mid-Year Reviews Matter
Mid-Year reviews are wellness checks for your business to keep it healthy. By performing these you can:
Catch minor issues early on before they become major problems
Make informed decisions for Q3 and Q4
Adjust your goals based on actual performance
Be more in control of your finances
And guess what else? It doesn’t have to be complicated.
🧾 Things to Review Right Now
We came up with a list of 5 things you can review this week to get a clear view of your financial health:
1. Revenue vs. Goals
How much have you made this year so far?
Compare that number to your goal — are you ahead, behind, or on track?
2. Expenses + Subscriptions
Review all of your recurring expenses.
Cancel any subscription and cut any costs that no longer serve your business.
Explore opportunities to bundle or negotiate.
3. COGS + Pricing Check
Are you still making a profit on each item you sell? What adjustments needs to be made?
Materials or production costs may have gone up, so it might be time to adjust your pricing.
4. Tax Readiness
Have you set aside enough money for taxes?
Are your financials current?
If not, now is the perfect time to catch up. Do NOT wait until December!
5. Systems + Workflow
How is your accounting software or spreadsheet system working for you?
Are there any manual tasks that can be automated?
Have you considered upgrading to save time and reduce errors?
📌 Free Download: Mid-Year Financial Health Checklist
We want to make this process a little easier for you, so we created a free Mid-Year Financial Health Checklist. This is just a simple guide to help you review your books.
📥 DOWNLOAD: FREE MID-YEAR FINANCIAL HEALTH CHECKLIST
💼 Do You Need Help Making Sense of the Numbers?
If the idea of diving into your finances alone seems overwhelming, you're not alone. This is exactly what The Craft CFO is here for! Whether you need a one-time clarity session, monthly support, or help calculating your COGS and pricing properly, we got you!
Let’s get your business finances working for you, not against you.
Final Thoughts
Mid-year doesn’t just have to be a checkpoint. Make it a launchpad. Use this time to make better financial decisions that will better align with and support the financial and creative goals you have for your business. You've got the vision, and we’ll help you bring the numbers into focus!
Here’s to a successful last half of the year!
