Running a busy and successful business means you often don’t have the time to step back and work ON the business. This can be a challenge if your aim is to grow and scale the company.
As experienced professional business advisers, we know the value of taking the time to ask yourself some pertinent questions. Holding yourself and the business to account is something we can help with. And there’s never a bad time to pose a few questions and gauge where you’re at with your planning, strategy, financial management, and personal goals as an entrepreneur.
We’ve pulled together 10 hot questions to ask yourself as a business owner.
1. Can You Explain Why a Customer Should Choose Your Brand Over Another?
Knowing your value to a customer is vital if you’re going to market your offering in the most effective way. Think about why your brand stands out in the marketplace, and what opportunities and threats exist. This is the fastest way to tailor your brand to meet customer expectations.
We can help you by running a SWOT-based analysis of your business.
2. How Happy is Your Workforce?
Your people are such a vital asset, but they won’t work well if they’re dissatisfied and disengaged from your business values. Ask yourself, are your employees motivated and engaged by your mission? Is there anything you can do to boost this engagement?
We can review your people strategy and the staff benefits you offer to your employees.
3. Are You Meeting Your Cashflow Goals?
Are there specific costs or inefficiencies that are holding you back from achieving a positive cashflow position? Ask yourself if your financial management is up to scratch. Identify your failings and tighten up your cash process.
We can review your cash management and look for efficiencies and cost-saving opportunities.
4. What Keeps You Awake at Night?
It’s a stressful role being the boss, and there’s likely to be a lot playing on your mind. Consider whether there are any recurring business issues that are holding you back, or unexpected pitfalls that have appeared along the course of the business journey.
We can offer you seasoned advice whatever the issue, with resolutions to ease your worries.
5. Are You Embracing Everything that Tech and AI have to offer?
Technology is moving fast with AI solutions and digital systems now an integral part of many business models. But are you doing enough to bring your business into the digital age? Are there tasks could you automate, or processes you could streamline?
We can suggest a suite of apps, software tools, and digital solutions to boost your business.