Business Health Check
Honest show of hands - How many times have you caught yourself working “in” your business rather than “on” it? And the next one gets better - How many times have you given yourself a really good excuse to justify it? :D
For success of your business, it is absolutely critical that you spend a lot more time “on” your business i.e. looking at it from a birds eye view. Most of us struggle to do that for our own business. Here are some business health check points for assessment & corrective actions.
Competitive Landscape - What capabilities your 3 top competitors recently released & what’s upcoming? How does that impact your competitive landscape & your key USP?
Sales & Marketing - Is your cost per lead better or worse overtime? What is the health of your conversion rate? Is your marketing spend optimized based on your revenue? Do you have an effective upsell strategy for your current customers?
Financial Health - What strategic changes around pricing, expenses, upsell, payment terms can you drive to ease off the cashflow issues? Are your invoices payments automated & on time or are you spending a lot of your time chasing payments? Are you using a good tool to maintain your books or running them manually