Business Health Checkup

Business Health Checkup Tool

One of the biggest reasons for the unacceptably high rate of failure for new startup businesses, besides lack of sufficient capital to maintain the business through the initial months, is a lack of focus and a clear plan for the business. Time after time, people come to us for advice on how to sell their products, but when we ask them who their Target Market is, what their Core Values are, what their Core Focus is, what their Unique Differentiator is, they have no idea. All they have is a product to sell, but no plans on how to sell it, or who to sell it to. They are basically just babes in the woods, lost, with no sense of direction for their business.

person lost photo
Photo by ethermoon

 

We have decided to put together this Business Health Checkup tool to help you to clarify the health of your business. The tool is based on the Entrepreneurs Operating System which was designed by Gino Wickman, and is described in his book “Traction” which we highly recommend. Wickman’s book, and “Duct Tape Marketing” by John Jantsch, form the basis of our own Modern Marketing Method.

We recommend that you come back either quarterly, or at most six-monthly, and re-use the tool. Hopefully, each time that you re-do the test, your scores will increase and you will get closer and closer to the successful business that you wanted when you started the business.

A Couple of Pointers

Be honest with your answers, remember that this is for your own good, there are no prizes or Kharma points involved.

The more thought that you put into your answers, and the more honest you are in rating your business, the more value that you will get out of the test.

Some of the questions may not apply to your own business at this stage of your progress, for example, if you are a startup business and you are currently the only person in the business, the questions about teamwork will not apply to you yet. So give yourself a rating of 1 for these questions.

As your business grows, you will start to employ staff, then these questions will apply to your business, and you can start to rate your business for them. But if you have no staff, you can’t rate yourself for Leadership just yet, can you?

If any of the questions or the terms used are confusing, you are welcome to email us at Port Mac Online with the title of ‘Business Health Checkup Tool’ in the email and we will gladly explain what they mean and how to use them in your business. We will be putting together a glossary of terms and their uses, and as soon as this is finished it will be added to our Resources page, so keep an eye on the page. Good luck with your test!

Business Health Check List

1. We have a clear Core Vision Statement in writing that has been properly communicated and is shared by everyone.
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2. Our Core Values are clear, and we are hiring, firing, reviewing and rewarding around these values.
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3. Our Core Business is clear, and our systems and processes reflect that.
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4. Our Target Market is clear, and our Sales and Marketing efforts are focused on it.
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5. Our Unique Differentiators are clear, and all of our Sales and Marketing efforts communicate them.
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6. Our Ten-Year Vision is clear and has been communicated to everybody.
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7. Our Three-Year Picture and Annual Goals are clear and has been communicated to everybody.
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8. We have a Proven Process for doing business with our customers. It has been documented, named and visually illustrated and everyone is following it.
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9. All of the people in our organization are the Right People in the Right Seats.
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10. Our Accountability Chart (Our Organizational Chart with each person’s roles and responsibilities) is clear, complete, and constantly updated.
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11. Our Leadership Team is open and honest, and demonstrates a high level of trust.
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12. Everyone has their own Quarterly Priorities (between three and seven a quarter) and is focused on them.
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13. Everyone on the team is engaged in regular Weekly Meetings.
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14. All our Meetings are held on the same day of the week, at the same time, have the same printed Agenda, start on time and end on time.
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15. All teams clearly Identify, Discuss and Solve all key Issues for the greater good and long-term success of the business, and not their own agenda.
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16. Our Systems and Processes are well documented, simplified, and followed by all on our team.
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17. We have a system in place for receiving regular customer and employee Feedback and we know their current levels of satisfaction.
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18. A Scorecard for weekly metrics and measurables is in place and communicated to all on the team.
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19. Everyone in the organization has their own Number, knows it and focuses on it.
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20. We have a realistic Budget and are monitoring it weekly, monthly and quarterly.
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If you have any questions regarding any of these business health checks, don't hesitate to contact us.