Business Viability Evaluation

A HEALTH CHECK FOR YOUR BUSINESS

Do you track your performance to ensure you are meeting your goals?  Do you have a business plan?

Just because you are busy, doesn’t mean your business is performing like it should. Many of our new customers are so busy, but just don’t seem to be making as much profit as they anticipate. This is usually because they are looking at a simple profit and loss statement to measure their success, but no other supporting reports.

A business evaluation generally requires a few simple steps to get a clear picture of where the business is going and where improvements need to be made. Here are a couple of steps that we take in assessing the viability of a business:

  1. Set out the ‘Profit and Loss’ so that we can understand what type of expenses you have.
  2. Determine whether your product or service is priced to meet all the costs involved in operating the business, whilst maintaining a solid profit margin.
  3. Asses your cash flow and point out areas where improvements can be made.  Late payments can mean major cash flow issues and if you are operating a small business, this can be enough to stop you from paying your staff, rent or suppliers.
  4. Asses your Assets and Liabilities along with the performance of any investments.  This will help us determine whether or not you have set your business up with the right structure for its success.
  5. Discuss your business goals and the above findings to see whether they line up and help you move in the right direction!

On completion of a business evaluation, you will generally see very clearly where your business has been taking you and depending on how it has been going there may be a few small areas to tweak, or it may lead you to see where expansion or change is necessary.

Sometimes we need to call in the cavalry when there are more serious discrepancies and fortunately we have a team of professionals that we can call upon if requested.

If you feel like your business needs a health check, contact us to organise a meeting to discuss where we can help you and your business.

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Our passion is driven from the joy of helping you achieve your business goals and watching you gain control of the areas where you need that extra helping hand.

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