An annual review of your business can be just as important as your personal health check. It's the opportunity to stand back and look at whether the business is on track to helping you achieve your goals.
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For any business owner, personal goals are just as important as business goals. The business is only one tool that will help you live the kind of life you want now and all the way through to retirement. It's also critical to ensure the business is serving you, and not the other way around.
Once you've articulated your goals you can take the next step: to review your business and make sure it is synchronised with achieving your goals. A great tool is a balanced scorecard review from four key perspectives:
- Financial
- Customer
- Internal processes
- Learning and growth
There is so much more to 'taking the pulse' of a business, but these considerations are a great place to start.
Luke Storey is PKF Assistant Manager
