Here are some of the questions that you need to ask yourself regarding various areas of the business before you start your growth push. - Are you clear on the goals of your business?
- Are your managers and other staff also up to date with these goals?
- Does your accountant or other adviser know what you are planning?
- Have you developed a business plan which brings into play the whole area of growth, which includes the resources that will be required of it?
- Have you assessed the performance of your marketing and advertising sections and if so, are these adequate?
- Have you put in strategies to get repeat sales?
- Are you clear about your competition and what you need to do to win when you start expanding your operations?
- Are you confident about your current advertising plan, including whether you have identified your target market and also the methods by which you will reach that market?
- Have you put in place policies for your employees?
- Do you feel you have loyal and productive staff?
- Have you put in place strategies for motivating your employees? This could include a system of extra remuneration or some other way of acknowledging their efforts.
- Are you familiar with the changes brought about by the latest technology?
- Have you put in place the necessary procedure for monitoring and control of the inventory?
- Have you put systems in place for all other areas of your business, including administration and finance?
- Are you cultivating relationships with your suppliers in order to get feedback on your prices as well as your service?
- Do you have current financial statements giving you a fair diagnosis of how your business is doing, also giving the current situation of your profit, as well as assets and liabilities?
- Are your tax records in compliance with the Tax Authorities and are they up to date?
- Do you have an effective credit control in place, as well as collection of monies owing?
- Are you happy with your payment procedures, especially where purchases are involved, with payments made to secure discounts offered?
|