Continuing on from How to Assess Your Business or Department (Part 1), this article covers the next steps in the assessment process.
Step 5: Review Your Technology
Think about your technology.
- What kind of software do you need?
- How about hardware?
- What is working or not working? What is making your business better, faster, and more convenient? Are there significant gaps in productivity due to a certain program?
TIP: Make sure to note all technology, starting with CRM, Financial Planning, Office Software (Word, Excel and PowerPoint), and technology customized for your business.
Step 6: Assess Yourself
Besides assessing your business or department, it is helpful to assess yourself. If your heart is not in what you do, you might consider adjusting. Try a questionnaire to help you assess yourself.
Step 7: Clients
- What is your potential market?
- Do you know how to reach target customers?
- Are you on a path to growth?
- How are your sales and marketing efforts working to bring in new clients?
- Do you know them well enough to make adjustments to meet their needs?
TIP: Consider interviewing clients and prospective clients.
Step 8: Review Your Uniqueness / Ability to Battle Competition
- What sets you apart from other businesses in your industry?
- How difficult is it for others to emulate the same model, due to the unique factors that make it up?
- If others can easily imitate you, are you really unique?
TIP: Is your business model based on a game-changing cost structure? Basically, are you making money using a plan that is designed initially for something else, but is cost-effective to implement in your market?