The Ultimate Monthly Business Review Outline: For Online Service Providers
Running a business means wearing a lot of hats and when you’re juggling client work, marketing, admin, and everything in between, it’s easy to let the months blur into one another. That’s where a monthly business review comes in. It’s your chance to hit pause, take a breath, and check in on what’s actually going on behind the scenes. What’s working? What’s not? Where’s your time (and money) going?
In this blog post, I’m walking you through the ultimate monthly review outline specifically for service providers - so whether you’re a designer, coach, VA or creative freelancer, you’ll find a simple structure to help you get clear, stay focused, and move your business forward with intention. No fluff. Just smart, honest reflection with metrics that actually matter.
I was shocked to find out a lot of my business friends weren’t doing this kind of review regularly so I wanted to make it as easy as possible for you to do and share the EXACT outline I use in my monthly review. And this baby is COMP-RE-HENSIVE. But don’t let it scare you. Once you get the hang of where to look for all the details, and start to get in the flow of doing this regularly, it will become an enjoyable part of your business routine (promise!)
Ready to make monthly reviews a non-negotiable in your business? Let’s dive in.
STEP 1: Review Your Monthly Finances
Let’s start with the money stuff because its often one of those tasks that gets left and ignored. But ignoring it won’t make it go away! Keeping tabs on your finances each months helps you understand your financial position, where you can/should invest and what any leaks in your business boat.
Track your receipts/invoices
Keeping tabs on your receipts and invoices each month helps you stay organised, spot late payments early, and makes tax season way less stressful. Plus, it’s just good business hygiene. You can’t make smart decisions if you don’t know what’s coming in and going out. You can use an accounting software for this, or a simple spreadsheet will do too.
I like to keep a folder of expenses in my email inbox and a folder to download receipts/invoices every month on my computer.
Calculate your profit/loss
Once you have a list of your income and expenses, you can then calculate your profit/loss for the month. By calculating this monthly, you’re better able to catch patterns early and make better decisions with your money.
What are you paying for that you don’t need?
Hello, sneaky subscriptions! This is your chance to review all those recurring payments and ask, “Do I really need this?” We’ve all signed up for tools or memberships we stopped using months ago. Cutting the fluff helps you keep more of your money and streamline your systems.
Pay any outstanding invoices
Nobody like to work with a client who pays late and nobody likes being the person who takes ages to pay! Taking time to pay any outstanding invoices keeps your relationships strong and your finances in good standing. (Plus, it’s just good karma as a biz owner!)
Paying yourself
Yes, you are allowed to make money from your business! Make sure you’re actually paying yourself each month - not just reinvesting everything. It’s a mindset shift as much as a money thing, and it reminds you that your business exists to support your life (not the other way around).
STEP 2: Review Your Sales Statistics
Number of Enquiries
How many people reached out this month? Even if they didn’t all book, enquiries are a sign that your marketing is working and that there’s interest. Track it to see what’s catching people’s attention!
Number of Invitations for Sales Calls
This metric shows how often you’re actively inviting people to take the next step with you. If enquiries are high but invitations are low, there might be a confidence block or a gap in your sales process to explore.
Number of Sales Calls
Sales calls are often where the magic happens, so knowing how many you actually had is key. This tells you whether your pipeline is healthy and helps you calculate your conversion rate over time.
Number of Clients Booked
Arguably the most exciting number on the list! Tracking how many clients you booked each month helps you understand your income flow and whether your sales process is converting effectively.
Products Sold
If you offer digital products, courses, or templates, it’s helpful to track sales separately from client work. It gives you insight into what’s resonating and where you might want to double down in your marketing.
Projects Completed
This is an important one for me to track because it helps me identify where my time is being spent. If my marketing/sales are lower that month, I can often spot a trend between how much client work I have been doing & a dip in my marketing activity.
Number of Times You Promoted Your Offers
This was a hard-truth metric that I had to face in my own business. If no one knows what you sell, how can they buy it? This metric reminds you to consistently put your offers out there and actually SELL! It’s not pushy or sleezy, its a key part of running a business.
Number of Times You Promoted Your Freebie
Your freebie is often the first step in your sales funnel, so promoting it regularly is a must. Track how often you share it so you can spot patterns in list growth and engagement. If you don’t have a freebie yet, you should check out my blog post of 11 lead magnet ideas for coaches.
Other Notable Activities
Launched something new? Hosted a workshop? Got featured somewhere exciting? Jot down any big wins or milestones - they’re worth celebrating and tracking as part of your growth story - as well as helping you understand where you time has been going this month.
STEP 3: Review Your Marketing Statistics
Visibility Opportunities E.g. Networking Events/Collaborations
Visibility is everything in the online space. Keep a record of any events, interviews, or collabs you took part in. These activities might not bring instant results, but they plant seeds for future opportunities.
Pitched visibility opportunities
Even if you didn’t land the gig, pitching is a huge step forward. It builds your confidence and puts your name out there. Track how many you sent out - you might just inspire yourself to pitch more next month.
Website Analytics
I’m a website designer myself so you knew this was going to be on here - you need to know how your website is actually performing each month and if its improving overtime. Website analytics can show you who's visiting, how long they’re staying, what they’re clicking on, and whether your site is doing its job of moving people closer to working with you. It’s not about obsessing over every stat - but about spotting what’s working, what’s not, and where you can tweak things to boost results.
Some of the key things to look out for in your website analytics:
Visitors/active users
Average engagement time
Key events e.g. completed form/download freebie
Top traffic source (check out this blog post for how to drive traffic to your website for FREE)
Most visited pages
Search Console clicks/impressions/keywords
Number of Google reviews
Google business profile website clicks
Best performing blog post - dissect why?
How many blog posts did you share?
Email Marketing stats
Email is where the real connection happens. It’s personal, direct, and still one of the highest-converting marketing tools around. But are your emails actually being opened? Are people clicking through or quietly unsubscribing? Tracking your email stats helps you write better emails, send them at the right times, and build a stronger, more engaged list. It’s not just about the numbers - it’s about learning how to show up in inboxes with content that actually lands.
A few of the most important metrics to track include:
Total number of subscribers
New subscribers
Unsubscribes
Number of campaigns sent
Open rate
Click through rate
Spam complaints
Post performing email - dissect why
Social media stats
Ah, social media - the love/hate relationship of every online business owner! While follower count isn’t everything (we all know that by now), it’s still helpful to keep an eye on how your content is performing. Are people engaging? Clicking through to your site? Sharing your stuff? These metrics can help you figure out what’s resonating with your audience and what might need a little refresh. It’s all about working smarter, not harder on the scroll.
Some key metrics you could take a look at include:
Followers
Impressions
Engagements
Number of posts shared
External link clicks
Best performing social posts - dissect why
STEP 4: Personal Check In
Wins
We need to celebrate ourselves more! Big or small, noting your wins builds confidence and reminds you how far you’ve come - even on those “meh” months where the money might not reflect the other amazing things going on in your business.
Challenges
What felt sticky or hard? Acknowledging your challenges helps you make changes (and shows you’re growing, even when it’s tough).
What do you need to let go of?
This is a recent addition to my monthly review thanks to Jess from Wild Coworking’s quarterly reviews. What do you need to let go of? Maybe it’s a belief, a service that you hate or oven a toxic client. What’s been hanging over you that you need to let go of? Use this space to release what’s no longer serving you.
What do you want to do more of?
What lit you up this month? What worked really well that you need to lean into? What actually drove the results? Make note of it and start finding ways to do more of that.
What do you want to do less of?
Equally important - what drained your energy? What simply didn’t work? What have you been investing time in and not seeing a return? My taking away things that no longer serve you, you can make room to do more of what is working.
Lessons Learnt
Every month comes with insights. Write down what you learned so you can carry it into next month wiser and stronger.
Come back to your why
This one’s grounding. Take a breath, zoom out, and remind yourself why you started this in the first place. It’s easy to forget in the day-to-day. Why did you start this in the first place? And are you still feeling aligned?
STEP 5: Goal Setting
Did You Complete Last Month’s Goals? Why/Why Not?
One of the most often forgotten parts of a monthly review is actually reviewing your last set of goals! Be honest, not judgmental. Reflecting on what worked (and what didn’t) helps you set better goals moving forward. But unless you understand why you did or didn’t achieve particular goals, they become meaningless instead of learning opportunities.
What can you realistically achieve in the next month?
This isn’t about cramming your to-do list—it’s about focus. Choose goals that feel doable and meaningful.
How can you set yourself up for success?
Think: time blocks, outsourcing, boundaries. What support or structure do you need to make your goals happen?
Are these goals in-line with your broader vision/your why?
I always think its important to check in with your why again. Are these goals aligned? If a goal doesn’t move you closer to your vision, it might not be worth your energy right now.
Can you actually control these goals or are they outcomes?
Aim for action-based goals, not outcome-based ones. You can’t control how many people buy but you can control how often you promote. You can’t control how many subscribers you have, but you can control how many videos you post. You get the idea.
And there you have it - your ultimate monthly business review outline! Taking the time to reflect like this each month isn’t just about tracking numbers (though those are important!); it’s about building a business that actually supports your goals, your energy, and your bigger vision. The more regularly you do this, the more confident and intentional you’ll feel in the decisions you make.
And if you’re serious about growing your business month over month, then check out a few of the other blog posts that could help you with exactly that:
