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Main Page –› Business & Companies –› Small Business Enterprise
 

Questions to Ask as Your Business Grows

 
Author: Peter Viliamu
 

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?

 
 
 

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