Tuesday, 29 March 2016

Does your Company have a fitness trainer?

If you are a Business Owner who seems to be making all the right moves, but are striking “out” more often than not, have you stopped to evaluate what is going wrong? As the founder of an enterprise, nobody would know better than you how to run the show. Be it technical expertise, logistical acumen or staff management, your forte lies in mobilizing vital resources and “making it happen”. 

Once you break into the industry, it’s only a matter of time before restlessness sets it and you’re on the lookout for bigger opportunities. Either expanding geographically, scaling up operations, establishing new tie-ups, or improvising existing offerings, the ingenuity never sleeps! Invariably, you would have your eye on tomorrow, and on future prospects. So how could you know if something is going wrong with your business today?

When riding on the tidal business wave, getting busier and growing fast, the nitty gritty operational details might be overlooked, and process controls may slide every once in a while. 

As isolated incidents, these lapses have no impact. Yet frequented occurrences and a laidback attitude could cause a lot of trouble. In the course of juggling an array of copious tasks, you might want to consider including a self-assessment tool to the loop.

A self-assessment / evaluation suite aims to tell you how healthy your business is right now. Bringing together aspects from core functional and non-functional divisions, it reveals what financial statements never can. 

The questions it poses to you will address areas such as IT security risks, threats from competitors, effectiveness of Organizational controls, influence of statutory compliance etc. Individually these answers speak only for one department, but collectively they paint a vivid image for the enterprise as a whole.

This appraisal of your venture in totality can provide ground-breaking findings and revelations. Practising regular “check-up’s” and “follow-up’s” will ensure your business remains robust and in shape. 

The diagnostic suite, like a personal fitness trainer, will monitor your vitals intermittently, supervise your workouts, suggest modified exercises and pursue you to stick to the meticulously chalked out diet. So stay fit, adhere to the regime and be ready for action!

(This blog post is authored by Netra Prakash, Business Analyst at SansPareil - www.sp-cag.com)

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