Quiz – Find your Business Blind-Spots

Have you let things slip a bit? (or perhaps a lot?)

Blind Spots are opportunities for boosting your profits quickly!

[twocol_one] Blind Spots – We see what we expect to see. It’s a well-documented psychological phenomenon. We also have virtual blind spots that are created by our brains when something appears that is not expected. These catch us out, weaken our businesses, and cause us loss.

  • Is your Business Strong enough to Survive a Crisis?
  • Is it strong enough to survive day-to-day hic-ups?
  • Is it making you as much money as it can?

The good news is once these are revealed we, as business owners, are easily able to address blind-spots; often quite quickly and cost effectively, to improve profits and decrease our own stress.

Test your Business Blind-Spots

TRY THIS CHECKLIST

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Quality Testing DONT USE - Autoresp only offer

Quality is a bit of a foggy concept - this checklist expands on how, and where to use the quality indicators for assessing your products, services and processes.




For more details about this
Quality Testing Checklist click here.

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[twocol_one_last] The current average is 4.3 minutes; we aren’t kidding – this is quick and simple! Just click on our orange button:
 
Business Blind Spot Quiz
 
So you can get the most benefit of our quiz, your results will appear on the screen and we will also email your answers alongside the ideal responses, this way you can refer back to them and continue fine tuning.

Herbert Simon, the Nobel economist, points out that most people are only partly rational, which means they are also partly emotional and irrational. We are often unaware we are falling into the “irrational trap”; we don’t acknowledge how many of our actions are dominated by our sub-conscious.

Think about the good, great and “not so hot” areas in your business…

Don’t just consider Sales and Cash-flow what about also looking at:

  1.    Management savvy
  2.    Compliance
  3.    Operations and Governance
  4.    Staffing
  5.    Marketing
[/twocol_one_last] Removing the blinkers so you can prioritise both your current emphasis, and any newly identified gaps, to focus exactly where you need to act and get started with the most impact. The extra good news is that addressing these issues will also improve the sales value of your business too.

Get out of your insular routines:

  • Talk to people outside of your expertise
  • Run ideas by other people who don’t have your same filters
  • Ask questions and really listen to the answers

(In this Quiz it is ‘answer questions and listen to the answers’)

Fill in your details below then click next to move through the quiz

Your results will appear on the screen once you hit the ANSWERS button, and we email your answers too, alongside the ideal responses, so you can refer back to them and begin to make informed changes.

First NameBusiness NameEmailPhone Number

COMMITMENTS

Are you easily able to meet your personal financial commitments with room for luxuries such as holidays?  e.g. school fees, mortgage, etc
Do you avoid gut decisions because you always have useful information at hand?
Are you happy to take responsibility and blame for other peoples' mistakes; as well as your own?
Are you self-sufficient at work: able to reload the photo-copier, order stationery, set-up a computer?
Are you willing to do menial tasks to "get the job done"?
Do you have a Business Plan?

COMPLIANCE

Do you have a Lawyer?
Do you have a business tax accountant and a bookkeeper?
Do you have appropriate levels of business insurances in place? e.g. Third Party, Professional Indemnity etc
Do you understand and stay up to date with the State and Federal laws that impact your industry?   e.g.Trade Practices Act, transfer pricing etc
Do you understand, and stay up to date with, your training requirements with all the relevant qualifications and certifications to operate your business?
Have you protected your Intellectual Property?   e.g. trademarks, logos, inventions, etc
Do you have the right business structure to best suit your financial needs, with Shareholders' and Directors' agreements in place?
MONEY SAVVY Do you accurately, and regularly, predict your profit for the next 12 months using a spreadsheet or forecasting tool?
Do you establish a budget each year, and does it include sufficient growth to costs such as new equipment, advertising and training?
Do you predict what will happen to your cash-flow in the next year, and do you have a strategy to manage this?
Do you know your Pricing Strategy, and have you calculated the breakeven point for all of your goods/services/products?
Do you regularly calculate and monitor your gross margin?

SALES AND MARKETING

Do yo understand the different needs of Sales, Marketing and Advertising?
Do you have a Customer Relationship strategy, including payment terms, communications, etc?
Do you have a strong "look and feel" for your business?
Do you know where and how you will advertise in the next 12 months, and the estimated costs?  eg Web development, print, etc
Have you identified your core market and planned how you will attract them?
Do you have an internal policy to deal with defects, returns, complaints and refunds?
Do you have a strategy for managing your sales-force (including customer referrals)?

OPERATIONS

Have you identified what KPIs you need to measure and report on to best manage your business?
Do you have a "Business Manual" so someone can replace you if you are sick or injured? and do you have that "someone" lined up?
Do you have processes and methods to ensure consistency and quality to every customer?
Do you have a shortlist of reliable, qualified repairers to call if something breaks?
Have you researched and negotiated good deals with your suppliers

STAFFING

Do you comply with all your OH&S requirements?
Do you understand the different cost structures between staff and contractors?
Do you have a compliant and reliable payroll system?
Do you have consistent methods for finding and keeping staff?
Do you have documented processes for dealing with staff grievances and if necessary dismissing staff? e.g. theft
Do you stay current with staff management best practices?

- Quiz - Where are my Business Blind-Spots?

- June 28th 2017



BE HONEST – you have far more to gain by giving truthful answers…!!

 

Don’t have time to do the quiz right now?

You can download our checklist instead
(this isn’t interactive – your responses won’t get scored so we can’t supply tips for improving.)

 

The same handy questions in a checklist to jog your memory and help remove your blinkers!

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2016-12-20T13:08:55+11:00