BUSINESS DIAGNOSTIC TOOL

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NOW LET’S CHECK HOW WELL YOUR BUSINESS IS DOING

Please use below questions to score the wellbeing of your business as it is being managed today. Assign a mark between 1 and 5 to each of the questions [1 = the lowest and 5 = the maximum grade].

Customer Care

Successful businesses are those who consistently meet their customers expectations; they know this as they poll their customers views frequently, and monitor repeat purchases and referrals.

1. How effectively do you monitor customer feedback (good and bad)?

2. How customer-friendlyť are your systems and processes?

3. How customer-centric do you believe your organization to be i.e. does the customer always come first?

Financial Performance

Successful businesses are those who meet their financial performance objectives. They are solvent and are regularly meeting their financial projections and budgets.

1. How would you rate your company's financial stability and access to additional funding to finance future growth?

2. How would you rate your profitable growth over the last 3 years (or shorter if applicable)?

3. How would you rate your management of debtor days i.e. are your customers meeting your payment terms?

4. How would you rate your management of creditor days i.e. are you meeting your obligations and commitments to suppliers?

5. How would you rate your ability to cut costs?

6. How would you rate the level of financial risk in your business?

Marketing

Successful businesses are those who recognise the importance of good brand awareness. They work tirelessly to find innovative ways of placing themselves in the forefront of customers minds throughout the entire product lifecycle.

1. How would you rate your marketing strategy?

2. How would you rate your company's understanding of its sector?

3. How would you rate your brand awareness i.e. how well recognized is your company/brand?

4. How would you rate your efforts in terms of educating customers about everything you do i.e. about all of your products and / or services?

5. How would you rate your website and efforts in terms of embracing social media and using it as a channel to communicate with your customers and prospects?

Product

Successful businesses are those who bring to market quality products and / or services that are designed to add value to their customers.

1. How would you rate your understanding of your unique selling point (USP)?

Sales Performance

Successful businesses are those who consistently meet or exceed their revenue targets. Profit margins are healthy and the company is not in a cycle of constant discounting or price-cutting in order to compete and retain customers.

1. How would you rate your company's lead generation ability?

2. How good is your company at setting accurate forecasts and revenue targets?

3. How would you rate your company's performance to date against the revenue targets you have set?

4. How would you rate your company's ability to upsell and cross sell i.e. do you capitalise on each sale by offering additional products or services?

Staff Performance And Management

Successful businesses are those who understand how to get the most from their investment in their people. They are adept at ensuring that their staff expectations and responsibilities are consistently met.

1. How would you rate your skills provision within the company?

Business health complete!

Thank you for your time Let's work on your business

About This service

This Business Rater is a systemized approach to diagnose the health of your business. The framework has been built to ask critical questions that enables the business owner objectively assess and critic key functional areas of their business operations. It then provides unique recommendations that assists solve even the most complex business situations while uncovering your business’ strengths and weaknesses.



Other benefits of this rater includes:
  • Helps to determine where to focus on and invest your time and energy for improvement
  • Helps to identify action plans and support processes to be put in place
  • It delivers rich insights that births the co-creation of business solutions & lead to more effective interventions

As a bank, Sterling is positioned to assist the entrepreneur to scale and take advantage of imminent opportunities. We are available in partnership with trusted professionals to conduct larger and robust assessment of your business and recommend initiatives that will get your business right back on track.

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