Most businesses could benefit from taking a critical look at their business from a strategic perspective. Answer the following business assessment checklist questions and gain some objective, actionable insight into your company.
After you’ve read this post, check out our new business success calculator to understand your company’s probability of success in the market.
Copy and paste the following questions onto a document and take a few minutes to answer each one as objectively and thoroughly as you can.
- How beneficial are your products/services to targeted users?
- Is your target market niche a specialty that makes it a competitive advantage for you?
- Do you have a marketing calendar and budget that is just the right combination of the 5 P’s for your target market?
- Are you currently profitable and do you have a history of strong earnings?
The 7 Most Important Aspects Of A Business
After having worked closely with 100s of small-to-medium sized businesses, JACOBY has developed a framework of the characteristics of the most successful companies. In our experience, when a company is strong in all 7 of these aspects, they grow, thrive, and generate significant wealth for their shareholders.
Look over the following bullet-points, then take this assessment test to see where your company’s strengths lie and where you need to improve.
Quality of Your Team and Culture – Is your team functioning at their highest potential? Do you have the right people on board? Strong culture lets individual members take advantage of their strengths and function TOGETHER to achieve common goals. By reevaluating your team and culture you can produce better results, better processes and a better work environment.
Quality of Your Products and Services – Your products and services are the front line in the customer’s eyes. This is what will keep your customers coming back for more. Taking the time to make sure your products and services are as good as they can be can make a huge difference in maintaining customer loyalty.
Quality of Your Target Market Niche – Is your company targeting the right audience? By making sure you are reaching your niche market you are promoting your visibility effectively, saving money, and it may even be a barrier to competition.
Quality of your Marketing Capabilities and Performance – Having a strong marketing team means that your product or service is getting the attention it deserves. Without effective marketing there is no way for your customers to really gain knowledge of your company.
Quality of Your Sales Capabilities and Performance – Even with the right marketing, you need a great sales department that can move relationships forward and "close the deal". By making sure you are optimizing your sales department you are ensuring better customer satisfaction and business growth.
Quality of Your Operations – Taking a look at how efficiently and effectively your business produces work and manages customer relationships is key in maintaining positive business growth. By reevaluating your business operations you can help increase business income and increase your businesses value.
Quality of Your Financial Capabilities and Performance – At the end of the day, the key measure of business success All businesses boil down to numbers. If you do not have highly functioning financial capabilities, your business could be losing money.
Where The Rubber Meets The Road
When you make the decision to assess your business practices and technology, hire a business growth consultant with the expertise to uncover the valuable insights that will inform positive change in your business.
JACOBY has all the tools you need for a full company assessment and decades of combined experience in guiding medium-sized and small businesses through the growth process from assessment to strategy formulation to implementation..
To learn more about what JACOBY can do for you, contact us or call 410-740-3900 for a free consultation.
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