Business Assessment Checklist

Your markets

• Which markets, or market segments, are most profitable?
• What plans do you need to attack new markets?
• Are existing markets saturated?
• Who makes up your markets

Your products and services

• Do they meet customer requirements?
• Which are the most profitable?
• What about price, service and quality issues?

Your marketing effort

• Are your existing marketing methods right?
• How much do they cost?
• How do you target potential new customers?

Your competition

• Who are they?
• What are their strengths and weaknesses?
• How do customers compare you and your competitors?
• What are your strengths and weaknesses?

Your suppliers

• What are relationships like?
• Do you work with them to improve their quality of supply to your business - and thus to your customers?

Finance and cashflow

• How does your cashflow forecasting system work?
• Is it accurate?
• What about your profit forecasts - do you keep them up to date and monitor performance?
• Do you maintain tight budgetary control on financial matters?

Premises and equipment

• Will your premises cope with your plans?
• Are they used to best effect?
• Is your equipment up to date?
• How will you find any improvements?

People

• Do you have the right people to achieve your objectives?
• Do they know what is expected from them in achieving those objectives?
• Do you operate a training and development plan?

The management team

• Who are they?
• What are their strengths and weaknesses?
• Do they need training?

You

• Do you know your own strengths and weaknesses?
• Do you need training?

Copyright: The Business Assessment Check List has been based upon information published by the Department of Trade & Industry and reproduced in accordance with Crown Copyright