by Dr. Virginia Wells
Do you remember the last time you conducted a business check-up?
Perhaps you are wondering if you really need to have one, or what could be the benefit of getting one done. The truth is, when you assess your current business health status, you can uncover possibilities that are on the horizon or minefields that are just waiting to go off.
Although there are various business check-ups you can perform on your business, the one most commonly used is the Strengths/Weaknesses/Opportunities/ Threats (SWOT) analysis. These four categories can help you identify critical factors that define your business health.
In order to facilitate this process, I developed the “4-D” model, which walks clients through each of the four categories in the SWOT analysis and integrates an action plan complete with milestones and checkpoints.
- The first D is for Discover. Start the process by discovering the strengths and weaknesses that exist in your company. The strengths include everything your company does well, and the weaknesses are items that hold your company back from reaching its full potential.
- The second D is for Determine. This point helps you determine the possibilities/opportunities gone unnoticed. Additionally, it is crucial to consider threats looming in the dark. These threats could act as situations presenting unseen hazards.
- The third D is for Design. This point should assist you in designing an action plan complete with strategic objectives and smart goals. The purpose is to guide you towards achieving maximum success in 2013.
- The fourth D is for Develop. Here is where the rubber hits the road and you develop the milestones and checkpoints to track your progress and monitor the health of your business.
After conducting this check-up, you should be aware of the current health of your business. When you are ready to take your business to the next level, contact me for a private consultation.