If you haven‘t already done so, now is a good time to re-visit your business health check. Just as you go to your doctor for a periodic health check, it’s a good idea to subject your business to a business health check at least annually. There are many questions to be asked.
Cashflow management is undoubtedly one of the biggest single issues affecting the business’ health. There are
other items that are part of a business health check.
These include:-
- Are your marketing activities generating sales?
- Are you planning for the future?
- Have you introduced systems that will give you continued feedback on the current status of the key performance indicators, so that the business is able to continue moving forward?
- What is the next great product that you are producing?
- Are you getting input from everyone in the firm, from management to the most junior employee?
- Do your products/services need revamping or re-working?
- Can you get feedback from your customers/clients on what they think about your business?
- Are you suffering from cancelled contracts?
- Are your business decisions based on a firm foundation?
- Have you reviewed your business strategies? Are they adequate for the expected trading conditions throughout 2012?
- How did the business become successful in the first place? Can you replicate those strategies?
These are some of the items that should be considered as part of a business health check review of your business.
If you would like a discussion with us, please contact us.
