Your Business Needs a Professional Health Check: Here’s Why
A key benefit of Aerium’s mentoring and support service is obtaining a fast and accurate measure of how your business is currently performing.
This is achieved via a “Business Health Check”. Aerium’s experienced mentor and business professional, Ryan Leslie, guides you through a process to evaluate crucial elements of your business. The outcomes define business strengths as well as identifying areas where improvement is needed.
Business owners are usually so entrenched in day-to-day operations there is rarely time to take a step back and assess the overall health of their business. We often hear owners say they are struggling to cut through the clutter to determine priorities and the strategies needed to achieve their goals.
Are you ready to find out how your business stacks up? Here is what you can expect from your Business Health Check:
What is a Business Health Check?
A quick measure for time-poor business owners to assess the health of your business in eight key areas:
- Organisational Culture & Performance
- Business Model & Growth Strategy
- Products & Services
- Industry Landscape & Scalability
- Marketing, Promotion & Sales
- Financial Management & Performance
- Governance & Risk Management
- Systems, Innovation & Technology
At the end of the health check process, you’ll receive a report, a summary of strengths and weaknesses, and an action plan template.
How does it help a Business Owner?
The Health Check provides validation of where your business is performing well and where improvements can be made. We can reference benchmark scores in similar enterprises and industries for your reference.
Further, it helps you to set goals and associated actions in those areas requiring improvement.
What’s involved in the process?
- An efficient, fast process to create an overall snapshot of your business in its current state.
- Within each of the eight areas, we work on answering six key questions and assign a performance score between 1-10.
- Your Mentor records notes beside each of these scores.
- Upon completion you receive a copy of the Health Check for ongoing monitoring and goal setting.
What issues are explored and uncovered?
This really depends on each business. However, the most common issues identified during the Health Check process include:
- Lack of medium to long term planning and goal setting due to lack of time and lost in day-to-day operations.
- Challenges managing and supervising employees and contractors when the business is growing.
- Lack of marketing knowledge, capability or strategy.
- Lack of financial planning and reporting.
- The need for systems development and integration for a CRM and workflow.
What outcomes/benefits are achieved?
The key benefit stated by businesses is that they get a quick and accurate measure of how their business is performing and clear direction on where they need to focus efforts to achieve a more resilient, sustainable and scalable business model.
Next steps after the Health Check is completed
Every business receives a copy of the Health Check to use as an ongoing tool and reference point. Think of it as a form of business plan.
The Health Check is performed in the first session of your mentoring – it’s a great way for your Mentor to learn about your business quickly and to establish priority areas for improvement. From here, subsequent mentoring sessions are tailored to concentrate on the areas for improvement. This provides support to your specific needs and circumstances.
There are two ways in which you can obtain FREE Business Mentoring with Aerium:
1. Solar Victoria Business Mentoring and Support Service
This service is funded by Solar Victoria to provide independent business mentoring and support to registered retailers and installers in the Solar Homes and Solar for Business Programs
2. VCCI Business Recovery and Resilience Mentoring
Victorian Chamber of Commerce and Industry, in partnership with the Victorian Government, offer support to eligible small business owners impacted by COVID.
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