Business Health Check

Business-Health-Check
hart-rate

Wondering how well your business is doing?

Not sure if things are going as well as they could?

To get a health rating for your business answer the questions below. No account required.

When thinking about the state of your business today, please allocate a score of 1, 2, 3 or 4 to the following business health factors:

  • 1 = Never or rarely meets your expectations
  • 2 = Sometimes meets your expectations
  • 3 = Mostly meets your expectations
  • 4 = Meets and often exceeds your expectations

Our Business Health Check has 10 questions, with a total possible score of 100%. Please be honest with your ratings — your business, its customers and staff, are counting on it!

1.

Business systems and processes

Well-established and followed business systems and processes ensure regularity of business performance, efficient outcomes and consistent delivery of products and services.

  • Are your systems and processes well developed and consistently deployed and followed?
  • Do you feel in control of the day-to-day activities your business undertakes? Are tasks planned, scheduled, prioritised?
  • How well does your business track the delivery of products and services to your customers?
2.

Staff performance

People are key to driving business performance.

  • Are you getting value from your investment in people?
  • Are your expectations and staff job responsibilities being met?
  • Is your people culture conductive to a positive, open and interactive team environment that is rewarding for the business and the individuals that work within it?
3.

Financial and operational performance

Financial and operational outcomes can have a lasting impact on business value.

  • Are your expectations regarding the financial performance and return from your business being met?
  • Are you consistently meeting financial projections and budgets, and other financial and business commitments?
  • Do you know your last month’s performance within the first 5 days of the following month?
4.

Cash flow and working capital management

Generating cash surpluses, managing and using working capital resources in a business can be key to sound performance.

  • Does the business experience periods of tight or constrained cash flow that impacts the effectiveness of day-to-day operations?
  • Are billing and payment terms and obligations met consistently?
  • Is your stock or inventory saleable at full value in a reasonable timeframe, or somewhat obsolete and unsaleable?
5.

Forward outlook

Forward outlook – in terms of both internal and external factors – can have a significant impact on business earnings.

  • Is your forward outlook (prospects, pipeline, jobs, client spending, trends) positive, stable or negative, and do you have evidence to support the strength of your forward outlook?
  • Are there any external factors (trends, regulation changes, events) which are likely to materially impact the fortunes of your business in the near term?
6.

Health and wellbeing

As the business owner or senior manager, your health, wellbeing and stress levels can impact business performance.

  • Does your time in the business impact your lifestyle (e.g. weight, sleeping patterns, communication, mental state etc)?
  • Is your motivation, resilience and decision making – on business and personal issues – sometimes less than optimum?
7.

Risk management

What risks you take and how you manage risk will impact business success.

  • Do you have an active and effective process within the business for identifying and addressing key risks – payment, market, customer, safety, financial, staff loss, unlikely external events – that may materially impact the fortunes of your business?
8.

Business planning

Successful businesses develop practical, realistic plans, forecasts and targets, supported by management and risk mitigation processes.

  • Do you set clear, measurable targets in your planning process?
  • Do you actively seek input into your plans from staff and key stakeholders (e.g. financier, advisor, partners)?
  • Does your planning include a review of the needs and purchasing trends of your customers?
  • Are your plans documented and shared with the team members who will enact them?
9.

Brand and marketing

Brand strength and engagement with customers is critical in building a sustainable business.

  • How strongly is your brand known and supported in the markets that you operate in?
  • Do you have a dynamic digital strategy (e.g. modern business website and active social media presence) and are you actively engaging with and tracking your customers' purchasing behaviour online and offline?
10.

Business innovation

Continuous improvement, development and innovation are keys to remaining efficient, competitive and relevant in the market.

  • Does your business have a demonstrated and active culture of continuous improvement?
  • Do you actively manage your market point of difference and competitive advantage?
  • Do you actively and regularly invest time and money in testing new concepts and offerings, and/or identifying automation and other system and process advances to improve productivity, delivery and profitability?
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