Ready For a Business Health Check?

Mid-Year Business Health Check

As we approach mid-year, now is a good time to re-energize and recommit to your success. Are you on-track to reach your goals?  If not, take some time to re-evaluate your progress, adjust your plans and refocus your efforts.

Mid-Year Business Check-Up

A mid-year business health check can help you identify areas that need improvement or uncover opportunities to exploit.

Increased revenue covers up a lot of issues or gaps in a business. So it’s natural for owners to focus on sales improvements. But other areas impact results too — so don’t ignore them.  

Revenue | Sales

A consistent stream and new and repeat business is important to overall profitability — so let’s start there. 

  • Are sales higher than the same period last year? 
  • Do you have a good balance of new and repeat business? 
  • Is your average sale or transaction higher — or trending up? 
  • Are sales efforts focused on higher margin products or services — think profit? 
  • Are you generating enough leads — new or repeat business — to support your sales goals?

Operations | Service

A well-run business certainly increases profit. But it also reduces the daily stress that often comes with business ownership. Is continuous improvement really a priority? Let’s consider the following:  

  • Do you consistently deliver what you promise, when you promise it?
  • Are rejects or reworks costing you time and money? 
  • Can your business run without your day-to-day involvement — so you can enjoy time off and not skip a beat? Think systems and training. 
  • Do you have the right people — employees, contractors, and suppliers — to support your business and customers?  

Profit / Financials

As a business owner, profit is your reward for excellence in entrepreneurship. Are you and your business reaping the rewards?

  • Are you profit margins trending up or higher than last year? 
  • Do you have the cash flow you need to continue to grow?
  • Do you know where the profit leaks are — and how to fix them?
  • Is your personal income growing? Does it reflect your value, effort and risk? 

It’s never too late to set a new direction. Based on what you discover, make a few adjustments now and you will reap the benefits sooner rather than later.

For a comprehensive checklist to help you identify more hidden opportunities in your small business, click here to download my free Business Success Checklist.

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