Exit Strategies – One can never plan too early with an exit strategy in mind. Have you considered the details of what your exit will look like?
Succession Planning – Establishing a clear succession plan takes time. It is easy to put this off but you must find the time to make it a priority.
Strategy Planning – Do you have a strategic plan in place or do you simply take each day as it comes? Be prepared and proactive.
Mergers & Acquisitions – Are you open to this type of opportunity? Any idea what your business is worth?
Legal Structure – Why did you choose the structure of your business (LLC, S, C, etc.)? A review and change could be in order.
Expansion Planning – Do you want to grow? If you do, have you prepared a plan of action to insure you properly navigate through the many challenges growth brings?
Performance
Sales Agenda – Are you managing the sales process and agenda? Is your compensation plan sound and producing results?
Marketing Plan – Are your marketing collaterals fresh and compelling or are they old and tired? Do you have a plan for change?
Branding – So important yet so often overlooked. Consistency in presentation and delivery is critical.
Digital Assets – Are you managing your digital assets or are they managing you?
Advertising – How effective is your campaign? Are you open to new ideas?
Operations
Process & Systems – Have you evaluated your processes and systems? Are they effective or do they create more challenges than they solve?
Policy & Procedures – Critically important to insure consistency and execution. Inspect what you expect.
Human Resources – How much time is devoted to HR? People are a critical investment and talent development is your highest priority.
Purchasing – A sound purchasing program is important to smooth operations. How involved are you in sourcing best value inputs?
Inventory Control – Sound inventory management and controls are critically important to operations and customer satisfaction.
Technology Utilization – Do you run towards technology utilization or from it? It is 2020 and your ability to use technology should be a huge part of your strategy.
Finance
Accounting – Are you getting the data you need to manage and run your business effectively? How about the software – being utilized to potential?
Finance – What is driving your business? Where are you making you money?
Forecasting Analysis – Do you have any financial analysis models in place? Do you properly evaluate your opportunities?
Budgeting – Fail to plan, you plan to fail is an old cliché’. You must budget and have a plan.
Cash Management – Do you understand cash flow? Do you have an effective cash flow model?
Financial Controls – It is imperative you have financials controls in place. Again, inspect what you expect.