Every Company Should Conduct A Mid-Year Review!

By Dave Costello, MBA/CPA, TCV Financial Leadership Partner

As I write this article, we are approaching the mid-way point of 2026. Even if you are reading it in Q3 that is OK. There’s still time to take action to benefit your organization's performance for 2026. Just don’t wait too long!

I get pretty excited about this time of year. Why, you ask? Not because summer is approaching. But because it is the perfect time for companies to pause, reflect, and re-calibrate. It’s a strategic opportunity to assess progress, realign goals, and energize your team for a strong finish. In my mind, this review is the “time to shine” for the CFO, a time to make a significant impact, whether you are a fractional CFO collaborating with small companies on a consulting basis like me, or a full time executive of your company.

Why are mid-year reviews so valuable?

1. You take a strong look at performance year to date.

• Where are we compared to budget and the strategic plan?

• If we missed on the upside or the downside, why did we miss?

• Have our margins improved, held steady, declined? Why?

• What do we need to change going forward?

2. You evaluate whether to make strategic realignments or stick with the existing plan.

• Which of our business segments did great? Which not so great? And why?

• Do we need to reallocate resources to take advantage of market changes?

• Is our strategic plan still relevant or have things changed?

3. You take time to reassess employee engagement.

• Do we have the right people in the right seats on the bus?

• Are we adequately obtaining feedback from team members and recognizing achievement?

• Is our staff experiencing any type of fatigue or burnout that is impacting performance?

• Are we providing sufficient leadership training to help those we see as future leaders progress and be successful?

• Have we clearly outlined expectations and provided sufficient motivation?

4. You evaluate strategic and financial resources.

• Do we need to update or change our cash flow forecast? Why?

• Are capital expenditure needs still there, or do we need to spend more?

• What is our standing with respect to competitors? Are we doing better? Worse? Why?

• How is our relationship with our bankers and investors? Could it be better?

5. You evaluate whether new risks have arisen or existing risks have become magnified.

• Has our primary market shifted at all? Have we kept up with market moves?

• Are our relationships with suppliers and vendors as strong as they should be? Can we do better?

• Do we have adequate plans to implement the use of artificial intelligence to help improve efficiencies? Do we have the right partners to assist with that effort?

  
  

Summary

A mid-year review can be incredibly powerful. And it can be performed any time during the third quarter. It gives you a clear picture of where things stand, helps you realign your strategy as needed, and re-energizes your team for months ahead. Think of it as a reset button—one that keeps your goals relevant, and your people focused.

A mid-year review is more than a formality. It's a powerful tool for driving success. By taking a thoughtful, structured approach, companies can stay agile, focused, and aligned with their long-term vision. Don’t wait until year-end to find out what went wrong. It’s too late to make corrections if you wait. Take charge now and set the stage for a strong finish for 2026! Do a Mid-Year Review!

If this resonates with you but you think you need some guidance or help to get started reach out to me at dave@tcv-growth.partners. Let’s have a conversation about how TCV Growth Partners (www.tcv-growth.partners) can help with planning for success!