Think about the parallels between hiking and business. In mapping our desired pathway forward, we need to know where we want to go and equally important, we need to know where we are currently. This may appear simplistic. However, clearly understanding both is fundamental and essential for defining our pathway and staying on it.
So often, many medium sized business and Not for Profit (NFP) owners and managers are consumed with regular daily, weekly, monthly activities, and the constant demands of their businesses. This is not right or wrong – it’s just what it is!
There is much evidence that sound planning and execution in the short, medium, and longer-term periods deliver better outcomes for a business, and these outcomes are consistently more aligned to an owner’s goals. This is supported by owners and managers we work with, when they identify what has contributed to their business’ successful development, continued growth and improved profitability.
On a long hike, regularly checking where you are at helps ensure you stay on your desired path. This is also relevant in business. Being clear about where you are at today and charting the best course will avoid a lot of wasted effort and help you and your team stay focused on what really matters.
How can medium sized business and NFP owners and managers gain further insight on where they are at?
Is there a structured process that could work well for them?
One starting point is to use an online assessment tool to get an initial robust level of insight into your business. That’s what Management Response’s Compass Business Health Check does. It has been built on experiences working with our clients and could be the right-fit tool for you.
In using the Compass Business Health Check tool, you will gain clarity in the areas where your business is doing well, where it’s okay, and where it’s not performing so well. This online tool is not overly complex, can be completed in under 15 minutes, will give you an initial insight summary, and help identify the immediate priority areas for you to focus on.
We know the importance of periodically stopping to take stock of where we are at currently and check we are on track to where we want to go. As a first step, using Compass Business Health Check will give you some useful insight, and support you in ‘working on’ your business. Whilst this is only a starting or way point for your journey, it will help set you up for success – even if it’s only to confirm your current choices and priorities.
More information about our Compass Business Health Check free online tool is HERE.
Author: Rhys Walter, Management Response Limited
