12 Critical Questions for Every Business Owner

Sometimes it is difficult to make the time to step back from every day operations and take a good, solid look at your business.  This is especially true if you are the owner/operator and the jack-of-all-trades.

However, it is critical to your business health to take a break and make sure you have answers to the following questions:

  1. Are you managing costs as aggressively as possible?
  2. Do you know what you would do if you had to cut costs by 10%?
  3. What would trigger the event of cutting costs?
  4. Who is critical to your success now and in the future?
  5. Are you attending to your most important relationships?
  6. Are you actively in touch with your customers?
  7. How much of your revenue is safe and how much is at risk?
  8. How can you simplify your operations?
  9. Do you have low-cost or no-cost ways of strengthening your business?
  10. Do you have opportunities to garner critically needed skills?
  11. Are you using your talents appropriately?
  12. Are you staying focused on your customers?
It is a lot to think about, but if you want your business to keep growing, it is worth the time invested.
Often, it is helpful to re-locate yourself to get a fresh perspective and to clear your mind.  Physically remove yourself from your office.  (Go ahead, you can do it!)  The change of scenery helps you think in different ways than you would at your place of business and you can consider it a “working micro vacation”.  Go to a coffee shop or a park.  Maybe even take a day trip somewhere.  The break will refresh you and your business will benefit too.
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