Is Your Business Due for a Check-up?


Profit

(1) What is the trend of your bottom line?  Do you know how your profit compares to the industry average?

Resources

(2) Do you have the right people in the right jobs at the right compensation?

(3) Do you have the right type of money? Are you borrowing at a fair rate?

(4) Do you have time for the people & things that are important to you?

Metrics

(5) 90% of businesses use 20% of their accounting software: Quick Books, Excel, and other Specialized Software. Are you above average?

(6) Is anyone besides the IRS paying attention to your financials?

(7) Have you put Key Performance Indicators (KPI's) in place? Are you tracking them?

Value

(8) Are the policies, procedures, systems, etc. that you have built over time locked in the minds of the employees or are they written down and reviewed periodically for accuracy?

(9) Do you have an exit plan? In order to realize the value you want, you must be able to to transfer ownership, either through a sale or a gift. Will the subsequent owners be family, management, employees, or outsiders?

Purpose

(10) Do you enjoy what you do?  if not, why are you still doing it?