Start improving the commercial and financial health of your business
The turn of the year is a good time to reflect on past achievements and to plan for the future. For most business people, that means thinking about how to improve the commercial and financial health of their business.
As we’ve discussed previously, a healthy business needs more than just good financial results. The healthiest companies are characterised by strong performance across a range of measures, including sales growth, profitability, balance sheet, employee skills and motivation, supply chain efficiency and customer satisfaction. This all-round fitness allows them to reap sustained, long-term rewards.
Long-term success in business means being better adapted to your environment than your competitors. This requires fitness in the past, present and future – as demonstrated by recent performance; current capabilities; and adaptability and flexibility.
So if you want to take stock of your business and start preparing for a prosperous new year, how should you start? The best way is to see how your business shapes up by taking a business health check.
A Company Pulse business health check uses our unique PULSE evaluation framework: People + Processes; Utilisations + Outcomes; Logistics + Infrastructure; Strategy + Finance; and Ethos + Relationships. We benchmark your business performance using this framework against other businesses of a similar type and size to help you understand your comparative strengths and weaknesses. As good business health derives from a combination of factors, we present our findings in the form of a balanced scorecard showing your benchmarked performance across multiple dimensions. We will also develop with you a prioritised action plan of how to improve the financial and commercial health of your business.
A business health check is the ideal start to improving the commercial and financial health of your business. Once you have established where you are and what you could do to improve, you can start implementing your action plan. And that would be a really rewarding way to start the year.