What’s Your Business Growth Potential?
All businesses have growth potential. How much depends on you. The difference is whether you are looking up at the stars from your rocket ship or looking down at the launch pad hoping everything works when you hit the launch button.
Here are ten questions to help you gauge your potential.
- Are you currently profitable (before bonuses, dividends and other tax minimization strategies)?
- Do you have a unique knowledge, expertise or industry presence that is difficult to replicate in your own market?
- Are you clearly focused on providing maximum value and results for your customers (instead of churning products or whatever you make through the factory)?
- Do you have more than one owner or person who can manage the company?
- Do you have your policies, procedures and ways of doing things documented in a binder?
- Do your customers actively refer other people to your business?
- Do you have more work than you can handle, most of the time?
- Are you getting more work done faster and faster, thus increasing both capacity and efficiency, while reducing costs?
- Do you think you could be three or ten times as big in terms of revenues, locations and market reach?
- Are you having fun?
Count all the ‘yes’ answers as ten points each, and all the ‘no’ answers as zero points each.
What’s your score?
Zero – 30 You have very limited growth potential.
40 – 50 You are building a foundation and need to get a few more things in order before you can put the rocket on the launch pad.
60 – 70 Your rocket is on the launch pad and you need to build booster rockets by focusing on the critical missing parts.
80 – 100 You are on the launch pad, you have ignition, the rockets are burning and you are prepared for lift-off. You can fix and tweak any missing parts during your flight.
It’s time to put your helmet on and push the launch button!
Copyright 2011. All Rights Reserved. Phil Symchych
Contact Info: www.symcoandco.com Phone (306) 569-9111