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Is Your Company Ready to Grow?

Most companies want to grow. There are bigger markets to pursue. You need to attract higher caliber employees. You’ve won a big opportunity. Your business has high fixed costs. You want to test yourself to see how far you can go with your business.

These are all excellent reasons to charge forward. But before you lead the charge you need to know your company can withstand the pressure. We don’t mean ‘Are you tough enough?’ We mean ‘Are your systems, methods, knowledge base, capacity, organizational structure and management skill stable enough to support growth?’

You don’t want to be in the middle of a big opportunity and discover one of your major stabilization supports is faulty. Growth can bring bigger profits but first it drains your cash flow and feels overwhelming to your staff. You need to be investing in the company’s stable platform first, so you can then get the growth from the company.

When you finish the quiz and hit submit, your results will be tabulated. Within 24 hours, your Quiz Results Report will be sent via email to the email address you provided. Inside your report, you will learn how your business stacks up.  Armed with this health check we reveal what’s needed to drive your business forward. We describe not just ‘what to do’, but ‘how to’ implement the latest tips and techniques we use today, with our clients. Your complimentary report is yours to keep and use inside your business. Rest assured, we won’t call you to follow up. We believe that if you want something more, you’ll call when you’re ready.

This quiz will take about 10 minutes. Think about how you currently run your business. On a scale of 1 to 5 where 5 means “This is currently part of how we do business”, 3 means “We do this, but inconsistently”, and 1 means “We’re not currently doing this”, answer each question to the best of your knowledge.

The Growth Quiz

Progress:

Your accounting system is organized so that it can report revenue or sales, cost of goods sold (labor and materials) and gross margin by product and/or by service.

 

1.      You and your team have developed a strategy to become the go-to company for a specific target market. 

 

1.      Your numbers tell the story. Your secret sauce brings you return customers who buy more than last time. Your profit margin has grown in each of the last three years.

1.      You do more than just update each other in your weekly management team meetings. Each member of the team explains the reason for their strategic actions and the desired end result or impact they want to have and whether last week’s action produced results.

1.      You’ve mystery shopped your company and/or have a strong feedback loop with your customers and found and fixed the customer experience hassles.

1.      You have a management team that has clear job descriptions, roles, responsibilities and the authority to carry out the roles needed in support of the growth strategy. 

1.      You and the management team know how to ask questions in a way that gets to the heart of the problem you want to solve. 

1.      Your organization structure has been re-drawn and right sized to accommodate new positions that you will need to add as demand grows and capacity shrinks.

1.      You have people on your management team that know how to turn decisions into strategic plans and projects.

1.      You and your team schedule time and effort to work ON the business not just IN your individual functional roles. 

1.      You’ve identified the work that the management team has been doing that now needs to be delegated. 

  Management knows how to mentor a second in command so the burden of managing doesn’t rest on one person’s shoulders and the knowledge in one person’s mind.

1.      Every department contributes to an in-house knowledge wiki and uses it to find out how to do things, where things are and who to call.

1.      You and your team have set growth goals for revenue, gross margin, expenses and profit margin and strategic goals for expansion in your market niche. 

1.      The accounting department has developed a dashboard using key performance indicators to help the management team make better decisions sooner.

1.      The accounting department, or an independent third party has educated the rest of the company on what has to be done to manage cash flow. 

1.      Everyone cooperates to give accounting the detail they need when they need it. Consistently.

1.      You have set up a budget so you know how much it will cost to support your growth plan. 

1.      Based on your budget, the forecast and the problem you solve for customers/clients, you are willing to make the investment in growth because you see how it will deliver a return on your invested funds.

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