Has is it been a while since you’ve looked at your business? Maybe you’re a new business owner and are looking for some insight about your business. Or maybe it is that time of year again? Time to assess what your business has succeeded in or what it is struggling with. If you’re a business owner and you don’t do complete a business assessment at least once a year, what the heck are you waiting for? Would you like to know what the business has accomplished? And what it needs to work on? You know, so it can keep improving? Of course you do. That’s why you’re here reading this.
Below are the steps you need to take to complete a Micro Business Assessment.
Separate yourself from your business. The point is to look at the strengths and weaknesses of your business, NOT you or your teams.
Make a list of things that are working well in tour business.
Make a list of your challenges. This can be setbacks the business has had or any specific challenge the business has faced or is facing. It can also include goals that haven’t been met. (Again, not PERSONAL challenges and avoid the use of “I” statements)
With the list of challenges, divide each issue from “Make List of Your Challenges” into three columns:
1. Key reasons for the challenge
2. Things you can change
3. Things you cannot change
Do the same with the list of things working well. Divide each item in the “Things That Are Working Well” into three columns:
1. Key reasons for it working well
2. Things you could change to improve it even more
3. Things that should stay the same for it to keep working well
Business owners can use this exercise as a baseline in a much more expansive and overall in depth business assessment. It is a good exercise to use when your business may be facing new situations, if your considering expanding operations, or if you’re thinking of hiring more people for your team.