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What is a Business Assessment?
A Business Assessment is a review of your entire business to see how your business is performing, internally, externally, and against competitors.
If you have worked before to set goals for your business, you can use those to measure against now.
Taking the time to assess your business will give you a deeper understanding of how your business is currently running and how you can improve your business going forward.
So, have you felt like your business has become a bit stagnant? Or maybe the growth you were expecting, just isn’t there? Then now is the perfect time to do a Business Assessment!
Each section of the ebook covers a specific aspect of your business.
- Day One: Internal Brand Audit
- Day Two: External Brand Audit
- Day Three: Social Media and Marketing Audit
- Day Four: Financial Audit
- Day Five: Creating a Strategic Plan
Getting ready for a business assessment
The first few tasks in the ebook will help you to prepare for the assessment. I’ve included them here so that you can see the kinds of tasks you’ll need to do in order to prepare.
Once you’ve finished these three tasks, you’ll be ready to purchase the ebook and see serious business growth in the next five days!
What are your objectives for business growth?
Our first task is to set some objectives for this week. What exactly do you want to learn about your business?
Take a few minutes and write down some goals for the week.
Do you want to find places you could bring in help or outsource work? Or maybe you really want to know which social media platform is performing best for your business?
Take a few minutes and think about where you want to see business growth going forward and write down your objectives.
SWOT – Strengths, Weaknesses, Opportunities, and Threats
We are going to start and end the week by doing a SWOT analysis. SWOT stands for strengths, weaknesses, opportunities, and threats.
This exercise will help you to start to see where you are doing well in your business and where you could improve.
Think about and answer the following questions:
1. What are your businesses strengths?
2. What do you do well?
3. What are your best internal resources?
1. What are your businesses weaknesses?
2. Where do you struggle?
3. Where does your business need to improve?
1. What current trends could your business use to its advantage?
2. What opportunities are open to your business?
3. Where could you create new opportunities?
1. What is your competition doing that could be a threat?
2. Are there any internal threats to your business?
3. Do any of your weaknesses pose a threat?
Find your competitors
I want you to go out and find three to five direct competitors to your business. We will be using this information throughout the process in a few other tasks.
Make a list of the top keywords in your business and then start Googling. See who else comes up in search results. If you are a local business, then make sure to include your location in your searches.
You can also use social media searches to find competitors. See what other groups are suggested on Facebook when you are in your group. Look at LinkedIn to see who else is publishing articles about your businesses area. Or use keywords on Pinterest to see who else is posting about your topic.
Once you’ve found a small list of businesses, check out their website and social media pages and make a note of the URLs.
You’re ready to do a full Small Business Assessment!
You are all prepared to audit your business now! You can purchase the full business assessment template by clicking here. This workbook will walk you through the five stages of assessing your business.