The importance of reviewing the progress of your Business

Running a small business is very definitely a full- time 'job' so the idea of putting time aside to sit and review the progress you have made with your business is one that does not come easily to the majority of business owners.

Once you get 'bogged down' in day-to-day running a business mode one can quickly forget why you started the business in the first place. Take it from us, taking time-out to step back and assess and review how your business is doing is one that will re-pay you many times over. So put a regular time aside, once every 3 months say, and go back through your Business Plan (you have got one haven't you?? - if not click HERE) and start by asking yourself the following question – “Am I where I thought I would be by now?”

The process of Reviewing your ‘progress’ to date

Let's start with your Marketing Plan: -

• How has it performed thus far? better or worse?
• Are you meeting your sales forecasts?
• Are your customers the target customers you expected would be interested in your business?  
• Did you underestimate the time it would take to establish your business (most people do!!)

Now what about your financial forecasts (Profit & Loss and Cashflow): -

• Have you updated your original projections with actual performance figures to date?
• What does this do to the projected figures for the next 3/6/12 months ahead?
• Are your 'books' up-to-date?
• Do you feel like you are in control of your business?

If you are not in control of your finances you are definitely NOT in control of your business. UKES could help you with this but first you should look at the following pages, Cash Flow Management and Financing your Business.

Taking the time to review and assess your progress to date will allow any issues that have been rumbling away without you really noticing to come to the surface and also give you an insight into opportunities that are opening up in front of you.

If you have a specific question you would like to put to us CLICK HERE .