Have a review of the core areas of business development:
Where do you need some help?
Operations and Efficiencies
- Is your menu of services clearly defined with clear pricing?
- Do you have a full payment system that is easy for the customer to buy?
- Do you have a system for customer management and follow-up?
- How do you record your sales and manage your inventory?
- What record keeping system are you using and how do you file your paperwork?
- Do you have a sales support system where customers can access additional information about your products and services?
- How often do you do strategic planning and review your productivity?
Sales & Marketing
- Is your branding and image clear and consistent?
- How many networking events/groups are you participating in?
- How are your personal selling skills?
- Are you and your team skilled and confident with your customer service policies and interactions?
- Can everyone on your team describe and speak about your products & services in a professional and enticing manner?
- How confident are you with your pricing & profit margins? How often do you discount?
- How effective is your website and social media? Do you review the analytics?
- Do you have an updated marketing plan in place that you refer to and revise when necessary?
Understanding Your Finances
- Do you produce monthly and/or quarterly financial statements? Both the Income Statement and the Balance Sheet?
- How much does the business pay you? Is it enough?
- Do you have multiple streams of income?
- Are you looking for additional products and services to add to your business?
- Is every product or service you offer profitable?
- Could you produce a cashflow forecast for the next 12 months?
- Do you have financial projections, sales and net profit goals for this year, next year, and 5 years?
- Will you need financing to grow your business and have you investigated loan options?
Team Development
- Who helps you – who are your mentors, coaches, or friends that could help you grow your business?
- Will you need to hire soon and what skills would you be looking for?
- Do you have a hiring and firing philosophy and game plan?
- Can you afford to hire? Do you know what sales volume you will need to reach to cover the expense of an additional employee?
- Do you have written job descriptions and an organizational chart?
- Do you have clear human resource policies?
- Have you created a training and education plan to be prepared for the skills required to grow?
- Is everyone on your team onboard with your company vision and mission?
You the Entrepreneur and Business Owner
- How is your stress management and mental health?
- How good are you with time management & work life balance?
- How is your health, stamina, mental clarity and focus?
- Why are you doing this? Do you still have passion and inspiration for your business?
- Are you good at overcoming fear and challenges?
- Do you have a positive philosophy of success & money?
- Are you learning, growing and developing new skills?