It’s a good idea to periodically review key aspects of the individual components of your business.
- Who are your customers?
- How well do you know their preferences?
- Do you know your “A-grade” customers?
- Are you solving your customers’ problems with your products/services?
- Is your website user-friendly?
- Have you asked your customers whether they obtain the information they’re seeking from your website?
- Do your team members understand your growth strategy and your plan for positioning the business?
- Have you identified Key Performance Indicators (KPIs) that apply to your business?
- Do you share the KPI information with your team?
- Are credit terms clearly explained in writing to new customers?
- Are tax invoices prepared and dispatched promptly to your customers?
- Do you continually analyse your cashflow position?
- Have you calculated the “cashflow shortage” due to debtors not paying on time?
- Have you identified team members’ strengths and weaknesses?
- Have you identified special training for development that individual team members may require?
- In this regard, have you considered making an application for assistance under the Industry Skills Fund?
- Are all of your team members on the “same page” of the “same book” when it comes to understanding what business you’re in, who your customers are and the products/services you really want to sell?