Note: Running Fridays in FromGregsHead.com, is a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the PKF Texas – Entrepreneur’s Playbook® page of the PKF Texas website.
Now is the time to get your company back to basics. What is your company’s sustainable competitive advantage? What are your core market segments? How can you make sure you are capitalizing on marketplace opportunities?
By conducting a thorough analysis of your operations, you can identify any changes needed to continue a growth track for your company.
The analysis process can include but is not limited to the following:
1. Identify your company’s key performance indicators
2. Create a one page plan to address any necessary improvements based on your KPIs
3. Meet regularly with your accountant and other service providers to keep you on top of any potential issues that may arise with new federal and state regulations
This analysis will help you focus on what is important in your business and can help you keep your company nimble in a time when you don’t know what next week will bring.