Many small business owners do not know how to perform a check up on their firm’s health themselves, nor do they monitor their key performance indicators on a monthly basis. Owners of larger business have internal and external staff that, in part, are supposed to keep an eye on these indicators.
If you are a small business person, the odds are that you don’t have the staff to provide this service, and you are left to either perform the analysis yourself, hire someone with knowledge needed to do it, or simply ignore performing the check-up at all. T his latter issue, ignoring the need for regular business health analysis, is akin to driving a car forward while waiting for feedback the following April on whether or not you survived, i.e., made any taxable income.
Rather than crash your firm, you might want to get a health check-up for your firm. Using your firm’s financial statements and other documents, the BIG Health Check-up, pulls from 20 different data points to deliver things like;
· Overview of financial performance
· Key performance indicators
· Suggestions for additional management attention
· Indicators of glaring issues or missed opportunities
Every business needs a Business Health Check-up. Whether the benefit for you, the owner, is peace of mind or an early alert of issues requiring your attention, the Business Health Check-up provides a simple, lost-cost overview of your firm’s financial status, key performance indexes, salability, comparable value, and surface issues.