Do you regularly review your business?
Businesses, like people, go through stages of growth and maturity so it is important to have a clear picture on the health of your business. Whether your business is winning or losing it is important to understand why you are where you are.
There are a number of diagnostic tools businesses can use to assess their current health.
Surveying customers to see what they think of your product or service is extremely effective if done properly with a large degree of objectivity. Surveys measure satisfaction — or dissatisfaction — with your offerings, determine critical needs and offer an opportunity to effectively communicate and build truly personal relationships with your customers. And when you take both praise and criticism to heart in order to fulfil the true needs of these customers, you build invaluable loyalty that can create buzz around your business and bring in enthusiastic, highly qualified referrals. Of course, the feedback may lead you to tweaking your service or product or, indeed, discontinuing something that is not giving you an adequate return on investment.
You’ll want qualitative information which can be time consuming to gather but gives you the ‘why’ rather than simply statistics.
Supplier and staff surveys will further assist you to gather a 360 degree picture of what people think of your service or product as would a third party review of your operations and finances.
At Verve when we undertake an organizational review we aim to identify the critical success factors of a business and their relative strengths and weaknesses. We believe it’s the weak ones that provide the best opportunity for improvement and the outcome of our reviews is an enterprise improvement plan.
A Verve Group strategic reviews can identify your critical success factors, so that you can focus on exploring the opportunities within your business landscape.
Contact Verve Group's Principal Consultant, Martin Pike at Verve Group today on (08) 8120 4877 or email firstname.lastname@example.org for your complimentary and confidential discussion.