Stop What You Are Doing Right Now. . .
And take our Business Health Assessment!
After several years in business for myself, many years in corporate business, and getting to know creative entrepreneurs at all stages of their business journey, I feel pretty confident that I can ask a handful of questions about the health of a creative business and make a few guesstimates about its long term success. There are common business foundations that will always set you up for success and help separate a professional from a hobbyist. How do you measure up?
How many of these statements can you answer with a yes?
- I have a tax ID number, proper licensing, formation documents, and proper insurance.
- I have written a mission and vision statement for my business and have a firm grasp of my business purpose.
- I have appropriate professional and advisory support (including, but not limited to, an accountant/bookkeeper, attorney, and business coach).
- I have written short-term goals (annual or shorter term) for my business and check in on them regularly.
- I have written long-term goals (three years or more) for my business and am building strategy to support a longevity mindset.
- I have an annual operating budget that I check and adjust regularly.
- I have an multi-faceted, robust marketing strategy to reach my ideal clients and grow my business.
- I create Sales forecasts for my future business, based off of current and past fiscal data and marketing strategies.
- I make regular efforts to nurture and support my business networks and have created strategic partnerships in my industry.
- I have written emergency plans and structure in place for my business should anything happen to me.
And then the Bonus Question:
- I have an exit strategy and retirement goals in place for when I decide that I am ready to finish working in my business.
It's my biggest hope that you were checking off all of the statements and I'd love to hear how you scored yourself in the comments section below. Although building a strong business foundation can be a time-consuming process in the beginning, I firmly believe you will be forever grateful to yourself if you get these structures in place. Our Business Bootcamp is the perfect kick in the rear to get yourself set up for 2017! If you're looking for a long term solution to ongoing accountability and support, One on One Business Coaching is a perfect way to get your ducks in a row!