Becoming more profitable
Assessing business performance: are you ready for 'take-off'?
The next time you’re sitting on the tarmac, about to jet off on that next business trip or well-deserved break, make the most of those rare few minutes without emails, phone calls or colleagues interrupting you. Take a step back from the day-to-day to review your business performance.
You might consider
What are your greatest challenges?
Are these ‘challenges’ opportunities? What other opportunities do you have?
Do you have the right people in place to capitalise on these?
Do you have the operational cash flow for the next month, three months, or six months it may take to address these challenges?
These leading questions will then enable you to consider if you have enough cash flow and resources to conquer your challenges.
The seven stages of reviewing your business
These progressive stages frame the potential flight of your business. To continue with the flight analogy, they begin with a pre-flight check or diagnostic review, then lay robust foundations for many more successful flights. Take a step back from the day-to-day to review your business performance.