Reassess the Overall Business Structure

Posted on Posted in Business Basics

Reassess the Overall Business StructureWhen owning a business it is folly to think that it can run day after day, or year after year without being reassessed on a regular basis. The fact that so much of our business depends on some sort of technology today means that as business owners we not only need to keep up to date with technology but on the continuing changes in social media.

Social media is no different than any other type of business niche in that there are always new plays coming into the fray, take Pinterest for example, and as these new players appear we need to stay on the look out to see if we can improve or gain from anything that is happening.

Any owner worth their weight will keep reassessing their business at different levels to see where there can be improvement and changes all for the betterment of the business. It is a good idea to do this about every 6 months depending on the type of business that you are operating and the competition that you have.

Business Continues to Change

The business needs to stay competitive.  We live in a fast moving world and any business that lags behind will be forgotten.

I remember when I was going through a tough time once and someone said to me, You will get through it, nothing ever stays the same. Bad times don’t last, and good times don’t last, so enjoy the good times while they are around and work your way through the bad times.”  That has always stuck with me and I often think about that in both good and bad times.

The same with business, there will always be change so you need to see that you are keeping up to date with those changes.  The checking needs to be assessing things like:

  • accounting system
  • finance
  • does packaging need upgrading
  • that the website is working for the business
  • looking at time management
  • assessing customer service
  • looking at costs to see if they can be reduced
  • if you have employees checking to see that they know your products and that they are fully trained for the jobs they are doing
  • the marketing progress of the business
  • is the pricing still competitive

By looking at these types of situations in the business you will be looking at the basics of the business so that it will survive in the market place.

If you think about it most of these would be written down in the business plan and it would just be a matter of flicking through that again to make sure that the business is still on track.

This is not a long job to do.  If it does end up being a long job it is because the business has not kept up with the changes in the market place and obviously then these checks need to be done more frequently.

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2 thoughts on “Reassess the Overall Business Structure

    1. Being competitive in business does need a vigilant eye Carolina, and business reassessment regularly.

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