MID-YEAR REVIEW: How Entrepreneurs Can Recover a Difficult Year

I have always been an advocate of a thorough mid-year business review. In six months, the company has had enough time to implement its strategies for the year and analyse the initial results. The mid-year review is important because it has six months following during which time the CEO can adjust and strengthen his plans or revise them completely.

In the article I uploaded on Mid-Year Review a fortnight ago, I went into great details about the steps to take, the questions to ask to reveal neglected problems and areas that need quick intervention. I discussed ways to spot the weak links and how to boost staff morale to develop a more effective team spirit.

In this article, I will be concentrating more on what to do to help your organisation recover from a poor first-six-months performance. This will be a sort of general guide because discovering that the business is behind target can be quite discouraging and may send many CEOs into panic. This article will help the entrepreneur see the problems clearly and take helpful actions.

For some organisations, the result of the mid-year review does not just show that revenue is lower than expected or that projects are delayed, there are added problems of astronomical expenses, depleted customer base and disengagement of key staff members. Thankfully, the reality is that many successful businesses have recovered from poor first halves of the year and still finished strongly. The difference usually lies in how quickly leaders respond.

The first rule of recovery is to stop pretending, stop explaining away your problems by quoting state of the national economy and looking at other companies with the same problems. Denial is expensive. Some business owners spend months convincing themselves that performance will improve automatically. They blame the government, its policies, the economy, their customers, and even competitors. Meanwhile, the gap continues to widen.

Turnaround begins with accepting reality. If revenue is 30% below target, acknowledge it. If expenses are out of control, admit it. If productivity is poor, confront it. Accurate diagnosis always precedes effective treatment. When you have the true picture of things, focus on one critical principle: Not everything needs fixing. Businesses often waste valuable time trying to solve every problem simultaneously. That will not work.  Turnaround requires prioritisation.

Identify the factors causing the greatest damage. It could be declining sales, low customer retention or excessive operating costs. Concentrate resources on the issues creating the largest impact.

Next, revisit revenue generation. When businesses struggle, leaders sometimes launch numerous new initiatives in search of a miracle solution. This can create additional complexity. Focus on the existing lines and introduce improvements that produce immediate impact. Streamline processes. Operational improvements often generate faster results than ambitious transformation projects.

Another powerful turnaround strategy involves strengthening customer relationships. During difficult periods, customers become even more important. Improve customer experience by increasing responsiveness to their needs. In an environment where everyone is offering the same services and products, it is the quality of your service delivery that sets you apart. This involves better communication, and quick response to their feedback. Personalized engagement frequently improves retention and referrals. Also, review your current customer base; existing customers are usually the fastest source of additional revenue. Introduce premium offerings. Create loyalty incentives that encourage repeat purchases. Reach out to inactive customers and advertise whatever improvements you have made on your products and services. Many businesses discover significant revenue opportunities hidden within their existing customer database. There are virtual customer relationship management tools that can help organise these efforts.

I like to tell the story of two law firms in Lagos, Nigeria. Both were experiencing losses in revenue and clientele in 2025. Firm A blamed their problems on the state of the economy. They were sure that other law firms were going through similar experiences, so they explained to themselves that people were struggling to eat and buy basic amenities and that pursuing legal justice was very low on their scale of needs. Their reaction to the problem was to cut down staff strength, tighten the belt on expenses and wait for the economy to improve. Firm B acknowledged that the economy was tight but asserted that seeking justice when wronged was as important to man as eating and being heard. They spent hours brainstorming on how to sell their services to people who desire justice but were held back by financial concerns. They advertised incentives for clients referring others and trained their lawyers to be marketers of their own services.

It is obvious who, between these two firms, ended the year strong.

Marketing should be simplified. When performance is weak, many companies spread themselves too thin; they advertise everywhere. They post on every social media platform and chase every trend. The result is diluted effectiveness. The better strategy is to identify two or three channels generating the highest returns. Double down on those channels. Reduce spending on underperforming activities.

Focus beats diversification during a turnaround. Identify where prospects are dropping off. Many organizations discover that their issue is not lead generation but poor conversion. Simple improvements in follow-up processes can significantly increase sales outcomes.

The next priority is expense control.

Cost reduction does not necessarily mean staff layoffs. Often, substantial savings can be achieved through subscriptions review, renegotiated supplier contracts, waste reduction or recycling, improved inventory management, and elimination of unnecessary expenditure. Strict management becomes especially important during recovery periods. Profitable businesses can still fail if cash flow is poorly managed. All department heads, the accountants, CFOs and CEOs should pay attention to expenses.  Negotiate favourable payment terms where possible and monitor cash movement weekly rather than monthly. Delay non-essential capital expenditures and accelerate mopping up of receivables.

Finally, address team performance. A turnaround cannot be achieved by leadership alone. Employees must understand the urgency and feel like they have a stake in keeping the organisation profitable.

• Communicate openly.
• Share goals.
• Explain challenges.
• Clarify expectations.

People generally perform better when they understand the significance of their contributions. However, communication alone is insufficient; employees need clear metrics – measurable targets that are achievable. Revise what you had set up at the beginning of the year.Based on what worked and what didn’t and why, set new target for the remaining six months. Monitor targets weekly. Many CEOs underestimate the power of weekly performance reviews during recovery periods. Weekly meetings encourage faster corrections. A simple dashboard tracking key indicators can transform decision-making.

Leadership behaviour becomes especially visible during challenging periods. Employees observe how leaders respond under pressure. If leadership becomes emotional, reactive, or inconsistent, uncertainty spreads throughout the organization. Maintain composure and take decisions promptly.

One of the most effective tools for recovery is the 90-day sprint.

Instead of focusing on the entire remaining six months, divide the period into two focused quarters.

Set a limited number of objectives. Assign accountability. Track progress weekly and adjust quickly.

This creates momentum and prevents overwhelm.

The next six months represent an opportunity not merely to recover lost ground, but to build a stronger, more resilient organization than the one that entered the year. Use it well

Cheers!!

Fatherhood with Ibe

THE CHALLENGES OF AN OLDER FATHER

As my children grow older, some building their own families and walking their own paths, I find myself reflecting more and more on the future I had expected versus the present reality. I have had discussions with many fathers of grown children and indeed, the twilight years of fatherhood often arrive with mixed emotions. For many men, it is a season expected to bring rest, fulfilment, and the satisfaction of seeing children settled and thriving. Yet sometimes, this period comes with unexpected twists. We always expect a rosy future where we as fathers see our children flourishing and sitting at the helm of multi-million dollar empires they have built or expanded. We don’t ever think of seeing them battling serious challenges in their health, careers, marriages or even finances.

For older dads, these realities can be deeply painful.

One of the greatest challenges of ageing is the gradual loss of physical strength. A man who once solved problems by working longer hours or making quick interventions may suddenly discover that his body can no longer keep pace with his desires. Retirement, reduced income, and declining health may further limit his ability to rescue adult children from crises. Watching a child battle chronic illness, unemployment, or emotional distress while feeling powerless can produce intense anxiety, guilt, and even depression. Many men are dealing with these distressing issues daily.

I saw an article by Azuka Jebose, on his personal platform, commemorating his 65^th birthday. He was talking about his personal experiences and how he is holding on. Jebose is a celebrated, multiple award-winning journalist, who reigned on the entertainment pages of The Punch newspapers for decades. He has remained very vocal and focused on the elevation of the human life through education and advocacy especially for the underprivileged. I got his consent to share his article and I share it for much the same reasons that I share aspects of my personal life on this page. First is to acknowledge that people face diverse challenges, so if you think you are alone in whatever challenges that you currently face, think again. Secondly, people handle different problems in different ways. Sometimes we draw strength from knowing that someone else has walked that path and we may copy aspects of his coping mechanism and solutions. Lastly, I was particularly encouraged by the positive attitude that shone through Jebose’s write-up. He has gone through a lot and he’s still handling a lot but he has not allowed it to cow him. His spirit is still high and his hope is intact.

Read his article:

The years came fast. Unexpectedly.

I thought I’d age like a fine stallion — gracefully, slowly, as time meandered through the creeks of my life. I believed my genes were shielded from vicious infections and grave illness. I wished for a long life, maybe slowed by age, but unbroken. Until 2020.

That year changed the world, and shattered my pride in my health. Suddenly, a new plague was upon us: Covid-19. Scientists named the deadly disease that swept the planet. By early 2020, it was ravaging the earth. I became its victim.

Three weeks in the ICU. When I was finally discharged, my sense of smell was gone. Six years later, it still hasn’t returned. I can’t smell anything.

Two years after that, I needed a total hip replacement. The steroids that saved my lungs when they collapsed during Covid had destroyed my right hip.

As I settled into a new hip and managed recovery, doctors caught prostate cancer early. Surgery followed. Five months into healing, my first child — my amazing daughter, only 31 — was diagnosed with stage three breast cancer. She began aggressive treatment. Young, fierce, fighting.

Just as the season turned bright and humid, a terrible auto crash nearly killed my son, my daughter, and me. The kids suffered broken arms and legs. I tore my heart muscle and broke six ribs. We spent last summer, fall, and early winter cycling through ICU, rehab, and wheelchairs before we clawed our way back to recovery.

Our reprieve was brief. By January, my prostate cancer returned — stage four, aggressive, spread to the bone. My oncologists prescribed 35 days of radiation and new, harsher treatments. Survival continues.

“I’ve seen sunny days I thought would never end in rain.”

I don’t know how much time I have left on this earth. But it’s been an incredible 65-year ride. I made it through this morning.

Yesterday, early Sunday morning, I got a call from New York. A childhood relative died. We ran the village paths together as boys — laughing, silly, our voices cracking the walls of corrugated homes. We were Ushi boys. We dreamed of nothing but those moments. He later became a Naval officer. Yesterday, he completed his mission on earth.

Yesterday was the eve of my 65th birthday. Yesterday was the birthplace of today.

May Onyekwe, Austin Diei’s soul, be granted eternal rest.

Today is for reflection.

Azukajebose

There’s something that touched me while reading this article. Jebose has actually passed on the fighting spirit to his children; they would not accept whatever the devil throws at them without a fight. I also picked up a few things that I hope would help all older fathers.

Health Is wealth, but it is also fragile. Many men spend their younger years believing they are invincible. Jebose’s journey from Covid-19 to hip replacement, cancer, and accident injuries, reminds older fathers that good health should never be taken for granted. Regular medical check-ups, early screenings, healthy living, and prompt attention to symptoms are essential. Fathers must recognize that prevention and early detection can mean the difference between life and death.

Strength includes accepting help and adapting to change. Jebose survived ICU admissions, surgeries, rehabilitation, and ongoing cancer treatment. This illustrates that true strength in later life is not merely physical toughness but the willingness to accept medical care, rely on loved ones, and adjust to new realities. Older fathers should understand that needing assistance does not diminish their dignity; rather, it demonstrates resilience and wisdom.

Family becomes even more precious with age. The pain of seeing a daughter battle breast cancer and children injured in a serious accident highlights an important truth: as fathers grow older, concern for their children does not diminish. If anything, it deepens. Older fathers should intentionally nurture relationships with their children, express affection freely, and create meaningful memories. Life’s uncertainties make emotional closeness and family unity invaluable treasures.

Live with gratitude and reflection, not assumptions. Jebose’s statement, “I made it through this morning,” captures a mature appreciation for life. Ageing teaches that tomorrow is never guaranteed. Older fathers can learn to live gratefully, celebrate ordinary days, mend broken relationships, and reflect on the legacy they are leaving behind. Rather than dwelling on how much time remains, they can focus on making each day purposeful and meaningful.

Ultimately, his article teaches that ageing is not merely about growing older; it is about learning to face life’s unexpected storms with courage, gratitude, faith, and love. Even when age is no longer on a father’s side, his role remains profoundly important; he continues to cheer, advise, support and encourage his children through their life issues, good or bad. It is essential for fathers to know that as they age, their roles should shift from being rescuers to becoming guides. Adult children do not always need financial bailouts; what they mostly always need are wisdom, encouragement, perspective, and emotional stability. A calm conversation, a listening ear, or a father’s reassuring presence can be more valuable than money.

Dear fathers, please join me in prayers for Jebose and all other men who are not just going through health challenges but are still carrying the role of fatherhood, demonstrating love and positivity.