Business Health Check Tool
Updated: Aug 4, 2019
Whether you are starting your business or established and looking to grow, our Business Healthcheck Tool will provide practical information and guidance.
You will be asked about key business improvement topics, and we’ll provide you with tips, tactics and templates to help you implement these business management practices in your business.
Use our Business Healthcheck to help find out the key business drivers for your business. It's quick and easy to complete.
Simply select from the 10 key business improvement topics and we’ll provide you with tips, tactics and templates to help you implement these business management practices in your business.
Whether you are starting up for the first time or established and looking to grow, our Business Healthcheck will help provide practical information and guidance for your business.
Some of the tips include how to:
Improve net profit drivers
Lower your direct costs by looking for better deals on costs such as energy, internet, and telephones Make sure you swiftly collect money that’s owed to you
Reduce cost of goods sold (COGS) by using lower cost materials where possible Find ways to grow your existing business
Maintain regular contact with existing customers and clients by email
Offer new ways for people to buy from you such as online ordering
Develop a system of asking for referrals
Determine new business channels and models Profile your existing customer base to re-establish your target consumers, then determine different distribution channels
Consider entering into a strategic alliance with successful distributors or complementary businesses
Build competitive advantage Perform a SWOT (strengths, weaknesses, opportunities, and threats) analysisFocus on what differentiates you in the market place
Outline what you’re doing well that your competitors can’t match
Develop an effective marketing campaign. Conduct surveys and develop a social media presence
Build word-of-mouth advertising Share your knowledge and experience at industry events Focus on the key business drivers Predict customer needs by using your sales data Exporting can be a great way to gain new customers and increase revenue Set goals for your employees Identify demand Estimate the size of the market Research price points
Attend trade shows to talk to potential customers and check out the competition Have working capital reserves Encourage your customers to pay using online and mobile payment options – the cash is then in your account immediately.Reduce working capital needs.Re-negotiate with suppliers for better credit terms