For many years, we carried out a Business Assessment as the first step of a Strategic Planning or Marketing Strategies project. We are pleased to offer Business Assessments as a business analysis service to help B2B firms get a better understanding of the state of their organization, what’s working, what’s not, the challenges ahead, and where improvements are needed.
If the business is not performing as desired, the root causes are not always immediately clear. A business audit can be very helpful in getting an understanding of what’s going on and how to improve.
A comprehensive business analysis identifies the strengths and weaknesses of the firm, such as sales & marketing, product mix, target markets, finance, product development, differentiation, competitive position, product pricing, and operations.
After the business assessment, you’ll know where the business stands and what you’ll need to focus on to improve business performance, both for the short-term and the long-term.
We use a comprehensive diagnostics process for information gathering and identifying strengths and weaknesses, opportunities, and challenges ahead. As strategy consultants with broad experience across a broad range of business-to-business market sectors, we bring an independent perspective and provide you with an unbiased opinion about the state of the business.
Key Elements of a Business Assessment
Our Business Assessment process is customized to a company’s particular situation. Typically, it covers most, if not all, of these topics:
- Goals and objectives
- Management interviews
- Product portfolio
- Target markets
- Differentiation and positioning
- Quick Insight Interview & Analysis
- Strengths, Weaknesses, Opportunities, Threats (SWOT)
- Strategic Competencies
- Competitive analysis
- PESTLE analysis
- Suppliers and the supplier market
- Major trends that may impact the business
- Sales & marketing processes
- Marketing collateral and website
- Organizational structure, roles & responsibilities
- Customer interviews or surveys
Benefits of a Business Assessment
- Independent business analysis
- Starting point for new initiatives
- Fresh perspective
- Clearly defined scope
- Quick turnaround
- Affordable, low risk
- No long-term commitment
- Recommendations for next steps
Armed with the results of the business performance audit and our high-level recommendations you can make informed decisions about what next steps to take. For instance, the Business Assessment can be followed by a Strategic Planning initiative or the development of a competitive Marketing Strategy.
If your business is underperforming, a comprehensive business assessment may be the best way to find out what the issues are.