What makes you decide to change your daily habits and start going to the gym or adopt a healthy eating regime?
You might be feeling a little sluggish, or you may have an inkling that you could be performing better if you shed some kilos or bad habits.
Just as we stop to take stock of our own individual health and wellbeing, we need to remember to do this for our business as well.
There are some key areas of any business that can indicate how robust your business is today and like any physical fitness program if you follow the steps regularly, you can maintain and grow your business in a healthy and controlled way.
A business health check will help you analyse your operations, highlight the strengths of your business and diagnose where you need to update your activities, your people or your products.
You may think you know your product but a few simple questions can highlight that there are many aspects you could develop.
It’s crucial for the business owner to take the time to research the potential of your product and to understand how your business can stand apart from your competitors.
Once you understand who your primary customers are, what they like to do, what they need, what they want and how they like to spend their money, and then you can start to prepare more targeted marketing activities so these customers buy from you more often.
How often do you consider the price sensitivity of your market and your own financial needs? Do you pay yourself wages and superannuation? The majority of business owners work long hours and take well below standard earnings from their business? Have you stopped to ask yourself how you might do this differently and is this commitment sustainable in the long term?
What areas of your business would you engage staff in and what benefit will that bring to you? Although you don’t necessarily have the answers to these questions right now, working with a Business Mentor can lead you along the path of better health for your business.
Business owners Greg and Kerry Gleeson of Organic Fitness have taken a prudent approach to their business. After successfully completing the New Enterprise Incentive Scheme (NEIS) Greg and Kerry had steadily grown their fitness gym and have continually refreshed the direction of their business and have shaped their services to meet the demands of the local customer groups.
Doing a Business Health Check through the Small Biz Connect program with ETC helped to confirm their plans to expand into an organic café attached to their gym in Bellbowrie Street.
Through the Small Biz Connect program delivered by ETC in the Hastings, many local businesses have accessed the diagnostic systems including benchmarking, demographic analysis and business health checks to help their businesses grow.