Business Health Check – Is Your Business Healthy?
Running a business has many challenges. If you’re not getting enough sleep, you’re stressed or working through some personal problems, you’re simply not functioning as well as you could be. And your business is the same. Apart from these, there might be some other underlying issues that hinder the growth of your endeavor and they usually aren’t visible at a glance.
A business health check will provide you with invaluable information that you can use as a guide to boost your business. The Town of Bluffton’s business incubator, the Don Ryan Center for Innovation has created a Business Health Check questionnaire that you can fill out online for free. Let’s take a closer look at what this new tool is and what it actually checks.
What is a Business Health Check?
Your strategy may be perfect, but if the execution is letting you down you need to know about it, so you can address the situation and improve the health of your business. The Business Health Check process has been developed to do just that
What It Actually Checks
The business health check is a process that will take a look at your company as a whole. Therefore, it will examine multiple areas to measure the overall health of your company. In more detail, it will check these elements:
Your vision – there is no denying that a company’s vision immediately affects its operation. For this reason, the health check will examine if your strategies align with your vision and goals as they are depicted in your business plan.
Your business structure – the next thing that will be checked is your business structure. The organization chart shows the internal structure of your company and how much freedom your employees have.
Your business’ culture – another element that the questionnaire will include is your business’ culture. This aspect relates to the policies, procedures, employee behavior, and code of conduct among others. Studying this area can uncover things that might displease your staff, which also affect their productivity.
Your production and inventory – other areas that will be checked are the production process and the inventory. This way, you can determine whether your existing strategies are satisfying your customers’ needs. Moreover, you will find out if some part of your inventory has become obsolete.
Your marketing strategy – as you are well aware, your marketing strategy is what makes your business known to the public. The business health check will bring you insights that reveal both the areas that are lacking and working.
Various external factors – your business is an entity that interacts with numerous external factors. All of these, affect its operation even when it doesn’t happen directly.
The Next Step
After taking the business health check questionnaire, you will gain much information that you can use to your advantage. The Don Ryan Center for Innovation will help you analyze these insights and provide you with free business advice. Paul Arvantides, our VP of Innovation will be available to answer any questions you have once you have an idea of what needs to be done. Click here to get started: www.donryancenter.com/paul