Entrepreneurial Scars
One Page Business Audit
Trouble in your existing business? Ask yourself the following questions? Do you want to take a day to think about it? Ask yourself the following questions:
How does your business generate income?
Look at your balance sheet and income statement. Can you tell where the money is coming from?
Prices: What is it based on? Do a sensitivity analysis.
What are the margins on different products and services you sell?
Business Elements
Niche: What problems does your business solve? What is your unique selling proposition (Remember USP?)?
Where do the “principals” spend their time?
What to the other non-income generating people do with their time?
What productivity can you leverage?
How do you judge quality and client service?
How do you get your message out?
How does your business generate cash flow?
Are you behind in collecting your account receivable? Who are the biggest offenders?
Are there other assets or investments that generate income?
With everything you just looked at, how does your business become more profitable?
- Goal choices: More clients or More projects, same clients or Bigger projects
- Additional Niches: horizontal versus vertical Growth
- Do you have the financial resources to grow?
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