Business Health Check

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Business Health Check
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Ok, so youve been running your business a
while now, and its going well, the way its
always done. You might be feeling, like many
other business owners I work with, that there
must be a better way to do some things. There
are glitches, annoyances, recurring problems that
keep you awake at night and mean you cant turn
your phone off. (Go on, think about it now. What
would happen if you turned off your phone for 48
hours? A week? Did that scare you? Oh dear. Keep
reading!)
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When you start a business you start with the
basics and work your way out from there. Its
easy to forget that actually, the basics always
remain absolutely central to how well your
business performs year on year, how easy your job
is, how good your staff retention is, how smooth
your cash flow is and how well you attract and
keep customers. So here are eight areas that are
the basics of your business drivers. Answer yes
to most or all of these, and you have a thriving,
valuable business and you are ready to sell for a
very favourable outcome. Answer no to half or
most, and youre right to be scared.
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A quality product. Are you still focused on
offering products or services that you genuinely
believe in? This isnt just a driver of business,
its a driver of you and your staff. If its got
diluted or compromised, now is time to realign
with it. Getting noticed where it counts. Do you
have a clear message about why your product or
service is so good, and communicate that to the
right markets? Making the most of what you
have. Are you taking full advantage of the
opportunities already available to you, like the
location of your premises, the expertise of your
staff, the equity in your business?
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The bottom line. Is your cash flow regular and
plentiful? Are you paying more than you should
for some supplies, or charging less than you
should for some products? Do you chase
defaulters? Thank prompt payers? ..Do you have a
broad and loyal customer base and a range of key
suppliers? Do you aim for steady, manageable
growth? Have you got ideas about how you might
extend your product or services into new markets
or new offerings? Have you got the time, funds
and appropriate staff or other resources to act
on your ideas for the business?
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Internal support. Do your back-office systems
actively help your business sell products,
implement improvements, receive money and keep
customers? Will they run without you if youre
hospitalised for a month? How did you go? The
good news is that there are many ways to turn any
of these areas around, theyre likely to be
easier than you think and, in most cases, one
solution will improve many areas. Benchmark
Business Sales can help you to get it right so
you get the best price possible for your
business..Remember, you only get one chance to
sell your business so give yourself the chance of
the healthiest outcome.
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Contact Info AddressBroker Support Centre,
Suite 104, Bermuda Point, 20 Lake Orr Drive.
Varsity Lakes, QLD 4227 Australia Phone
number1300 366 521 (toll-free)61 7 5562 2711
(international)07 5562 2744 (fax) E-mailadmin_at_b
enchmarkbusiness.com.au