Building Business Success Blocks

I'm sorry but if the first thing you look at i...

2010-11-19T12:52:16.151-08:00

I'm sorry but if the first thing you look at isn't the customers then you just don't have a wholistic view of busienss management. If you don't have any customers then fine, look at the rest of it, but if you aren't in touch with your customers then I don't see how you can analyze anything else in your business.

The first thing that i would look at would be if t...

2010-03-06T10:43:26.267-08:00

The first thing that i would look at would be if the business is in compliance with all regulations. If the licenses and taxes are not paid then that would pose a big problem for the company.

Next I would look at the cash flows to see if the business is paying their bills on time. I would have to say that profitability would fall under cash flow because the business will have to have some type of budget or balance sheet statement about the company. By looking at a balance sheet then I would know where the company stands within the year and past years. I would also have to say that the expenses will have to fall under this category as well.

Then I would have to look at the assets the company has. How liquid is the company if for some unforeseeable reason the company goes under, will the company have the money to sustain itself during that process.

Then I would have to look at the marketing the company is doing to promote the business in generating revenue.

Then I would look at the people that are working for the company to see if they are compliant with the companies protocols and procedures.

I agree, Jan. It's the proverbial "failin...

2010-01-11T09:50:42.593-08:00

I agree, Jan. It's the proverbial "failing to plan may mean planning to fail". I liken it to goal-setting processes. Many business owners think it's too much work - defining, writing and monitoring a business plan or goal. I've written about goal setting and have written comprehensive business plans. Both are valuable tools for business owners and don't have to be that difficult. Understanding the process (of goal-setting or creating a business plan) will lessen the difficulty concerns. Getting professional help will simply make it all work better.