Conduct A Business Review In 4 Simple Steps

Whether your business is new or established, chances are your feet haven’t touched the ground in the last few years trying to keep it afloat and to turn a profit. Times have been tough but now is the time to get things moving and think about growing again. When was the last time you delved into the deepest depths of your company and gave it a good health check? If you want to keep your company growing, you will need to be certain it is well enough to take on the extra pressure. Follow our four simple steps for undertaking your essential business health check:

  1. Marketing Review – Your marketing team should be analysing every campaign very frequently. The marketing plan should be updated at least quarterly. The overall marketing strategy should be continually tweaked to be brought in line with the changing needs of the business. If your marketing team have been snowed under, get them to answer a few simple questions. Which media are they NOT using and why not? How frequently are they communicating about the business through social media, and can that frequency be increased? When was the last time fresh content was added to the company’s website, and has it been search engine optimised in the last quarter?

  2. HR Review – When was the last time your staff were surveyed? It is essential to keep abreast of staffing issues or unhappiness. Are there any competitors in the area offering your staff deals to defect? When was the last time you reviewed staff benefits, salaries and health statistics? Put together as much data as you can about your staff to find out if your employees are happy and healthy. If they are not, be quick to implement some rapid changes to improve retention, motivation and productivity. If any employees are customer-facing, send in some mystery shoppers to determine if your desired company image is being upheld.

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  1. IT Review – Have you installed new systems or software lately? Did you do it to improve efficiencies or because you needed an IT system that didn’t fall down all the time? Do your staff have any complaints about the systems being used? Do they have suggestions to help improve things? If there is any doubt about the usefulness of your IT, you may want to ask an external Business Analyst to take a close look at your business and data handling. You may be able to achieve much more with what you have than you think. Alternatively, try asking a trusted employee to do some SAS training online so they can help you delve into the depths of your business systems.

  2. CRM Review – Does your marketing department have a dedicated team to look after your customer relationships? It is far more expensive to try and gain new customers than it is to sell again to your existing customer base. This role requires excellent management and understanding of customer data. Often the marketing department is too busy to take this on as effectively as a dedicated manager could.

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