Business Growth – Action Plan
SME Business Wealth Builder Four Steps to Profitable Growth
These are the tough questions that only you can answer. The time you invest by completing this document will lead to a clearer understanding of your business along with providing an increased focus on your potential. Good luck!
Part One: Questionnaire
- Why are you in business?
- What lifestyle goals do you want your business to help you achieve?
- Does your business provide you with the level of income, lifestyle and vacation that you want?
- What are the career opportunities for your employees? Do they know this?
- What value do you provide to your customers? How are your customers better off because of you?
- What is your business strategy?
- What is your competitive advantage?
- Do you have a written organizational chart for now and for the future?
- How are you creating and protecting business wealth?
- Are your policies and procedures documented?
- Do you have a formal training program?
- Do you have a formal performance evaluation program?
- How do you attract and retain talent?
- What is your operational capacity (hrs, units, sq. feet, number of customers)
- What is your quality level(s)?
- How fast can you serve a customer or produce a product?
- How do you increase awareness about your company?
- Who can sell, who promotes your business?
- Where does your new business come from? Repeat, referral, new?
- What are your gross margins by product and service line?
- Who are your most profitable customers?
- What is your cost per unit?
- What is your sales break-even?
- What is your working capital?
- How fast can you grow?
- What investments do you need to increase capacity?
- What is your net profit margin, as a percentage of revenue? Is it increasing or decreasing?
- What is the value of your business?
- What is your exit strategy? Keep and grow, sell, transfer to family or employees?
- Are you having fun?
Part Two: Resources
- Strategy – How can you improve the value that you deliver to your customers?
- Marketing – How can you improve your brand image and awareness?
- Capacity – How can you increase your business capacity?
- Talent – What are the best things about working for you, according to your employees?
- Financial – What are your best sources of new capital?
- What metrics do you use to measure business performance?
Part Three: Priorities and Action Plan
Based on your analysis of the above, what are your highest probability action steps to move your business forward?
Priority 1: Marketing – Increase value to customers, awareness, conversions and revenues.
Priority 2: Capacity – Increase volume, quality and speed.
Priority 3: Financial – Increase profits and cash flow.
Congratulations! You have done a lot of mental heavy lifting that many are not willing or able to do. This has already increased your probability of success.
SME Business Wealth Builder is pleased to provide a free download of Phil’s Business Growth Action Plan. The Business Growth Action Plan is a unique tool that will provide a clearer understanding of your business and your potential.
If you would like to discuss the results of your questionnaire, I offer a complimentary one hour consultation by phone. Please call me at 1-306-569-9111 or send an email to [email protected] and we can schedule a call.
© 2011 Phil Symchych