What is a Business Health Check?

Business Owners who own, manage and operate small to medium sized enterprises are so busy meeting the immediate requirements of Customers, Staff or Suppliers that they do not take the time to focus on the years ahead. When your entire time, attention and energy are taken up with working “in” the business without capacity to work “on” the business, it is an ideal time for a check-up by an independent, external Business Advisor or a Business Coach. It is time for a Business Health Check

A Business Health Check is a current, overall assessment of the critical elements of your business. There is a series of questions which help you focus your attention on the business in a manner that helps you see it as an external expert might see it. This involves an initial assessment by you, as business owner/manager, which is independent and detached from the business. It is a full diagnostic on the business and the results will determine how healthy or otherwise the business currently is and also highlights  ways and means of bringing change or improvement to the business.

 

What is the process for completing a Business Health Check?

The process is simple. Working with an experienced Business Advisor or Business Coach you, as the Business Owner and/or Manager are taken through every aspect of the business. You are supported in assessing the results of the full diagnostic report and assisted in developing a plan of action to effect any necessary changes. Key areas addressed include:

External Factors: How is the business currently coping with factors over which it has little or no control? Factors reviewed include the Business Environment, Industry, Competition, Technology, Customers and finally the Owners/Shareholders

  •  Vision for the Business: What is the desired outcome for this business for the future?
  •  Strategies, Objectives and Plans: What are the key steps required to enable you to achieve your Vision?
  •  Structure and Culture to support the Strategies: How are the people, resources, funds and all it takes to run a business to be organised? What are the underlying rules that govern the business?
  •  Marketing, Sales & Business Development: How are prospects going to know about the business and how are prospects going to become Customers? How are you going to retain and develop the best possible customers, products and services?
  • Production, Operations & Logistics: How are you going to source, manage and produce goods and services that will meet the needs of your Customers, with a quality and consistency that you want to maintain?
  • Accounting, Finance & Cash flow: How will you manage the bookkeeping, accounting and required financial information while ensuring that Cash Flow meets the requirements of the business and still generates a positive cash flow for the owner?
  • People & HR: How will you source and manage the best people needed to run your business?
  • Process, Systems & Information to pull it all together: What specific systems and procedures do you need in place to support all aspects of the business? How will you know when the business is operating at optimal levels?

 

What are the benefits of a Business Health Check?

The Business Health Check process is in two parts. Initially, there is a series of questions to be answered. This is the diagnostic element. The answers are reviewed with an experienced Business Coach and Advisor. This review is by an independent, trained Business Coach, who has the knowledge and expertise to guide and support the development of a route to success. The results are compiled in report format and a subsequent meeting takes place with the Business Owner. The Business Owner will accept or modify the report. Working with the Business Coach and Advisor, the Business Owner determines the specific actions for implementation to effect positive changes for the business and sets about implementing these actions with agreed resources and within pre-determined timeframes. This brings clarity and purpose to the business function and creates motivation to take action and effect positive change. Knowledge has the people with the expertise, systems and capacity to help steer and direct a successful course from inception through to completion of the Business Health Check

Do you want to learn more? Knowledge is focused on helping you deliver practical business solutions based in reality. To find out how you can best move your business forward, call us today on 01-8439114 or email us at Contact@Knowledge.ie.