Business Health Check
This is a purposeful and powerful system. It enables our SME clients to reconnect with their original reasons for setting up in business, to review their goals for themselves and their businesses, to log where they are as businesses right now, and to re-focus them on their growth path for the future.
In essence, this tool provides clients with a snapshot of where their businesses are at a given moment in time and specifically looks at six key areas of their businesses:
- Industry
- Finance
- Management
- Employee
- Customers
- Product/service
So what are the specific benefits for clients from having a Business Health Check?
- It helps clients look at their businesses strategically; is their business managed proactively or reactively? Is their business one of the 81% of businesses that fire fight on a daily basis?
- The Management section identifies those issues that directly affect the client as the Business Owner. Is the client’s business one of the 92% that provides its owner with insufficient income?
- The Business Health Check helps reconnect Business Owners with their goals – personal, business and financial.
- The system helps clients reassess their management styles – is their style enhancing business operations and driving productivity, or is it creating a block?
- The Employee section asks some searching questions about the way our clients’ teams operate; are they growing or hampering the growth potential of their businesses? 42% of businesses say that their employees waste the business owner’s time. 76% of business owners say that ‘staffing’ is their main frustration. Is the client one of the 71% of businesses that does not set performance targets for the members of the team?
- The Finance section looks at whether clients have all the essential financial goal posts in place. Is the business one of the 64% that does not have a business plan? Or is it one of the 67% of businesses that does not have a cash flow plan? Does the business know its break even level? 72% of businesses do not.
- The way businesses service their customers is one great way for businesses to grow. This section of the Business Health Check helps focus the client’s mind of the sharp end of the business. Only 6 of every 10 businesses say their team meets customer needs. Does the business collect feedback from its customers to use as ‘free’ marketing collateral to promote itself?
- Does the business know what its Unique Selling Point (USP) is? How is the business marketing itself and its products/services and how is the business tracking the results of its marketing?