How has 2012 been for your business? Good? Bad? So-So? And where do you want it to be this time next year? As this calendar year winds down, business leaders should be focusing on creating goals and plans for the next – and BusinessWeek discusses the advantages of performing a health check for your small business.
The four key areas to look at are:
- Financial Health. Figure out how the actual numbers are stacking up against the projections. How easy is cashflow? Are you profitable or in the red?
- Risks. What are the major threats to the growth of your business?
- Inventory & Operatons. Can any processes be streamlined for greater efficiency and cost savings?
- Strategy.