How To Assess Your Business (and Make it Better!)

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Most entrepreneurs never assess how their business is doing or how they could make it better. We tend to always be looking ahead and not at what is happening in the moment. But by evaluating your business as things are happening — through a variety of different categories and on a consistent basis — you’ll be able to effectively make changes that lead to major improvement (i.e., success).

Assess Business Better Entrepreneur

Grab a pen and piece of paper because it’s time to assess your business and make it better! 

A couple of tips before we get started:

  • Write down the category
  • Think and answer thoroughly

If you have a business partner or someone else you strategize with — co-workers, a team, significant other — feel free to talk through your responses (but ultimately, they need to go down in writing).

Give it a score on a scale of 1-10 (1 = really bad and 10 = killing it)

One: Rate your abilities as a leader. 

How are you at:

  • delegating
  • forecasting
  • team management
  • hiring
  • motivation
  • productivity
  • keeping the team cohesive

Two: Sales/revenues.

  • How are sales looking? 
  • What do your sales funnels look like?
  • Do you have a well-developed customer journey? 
  • What do your follow-up email sequences look like? 
And I’m not referencing how much you’re earning annually, but, rather, how developed is the process? 
Assess Business by Sales Revenues

Three: Email list building.

How much effort do you put into building and nurturing your email list? 

So, what are you doing to create new:

  • freemiums?
  • opportunities?
  • reasons for people to give you their email address? 

In other words, once someone gives you their email address — are you taking care of them?

Four: Your team.

If you’re thinking,

“Oh, I don’t have a team” — but you need a team, well, then you’ve got to give yourself a low score here.

Now, you may have a great team, however…

  • it doesn’t feel cohesive 
  • people are employed in the wrong positions
  • there’s friction or tension
  • you’re understaffed 

…these are all matters to consider. 

Assess Business Team Better

Five: Social media marketing. 

Sadly, I doubt that many of us are going to give ourselves a very high score here because there’s so much to do — and we’re in the midst of a social media recession. 

What do I mean by all that? Well, listen to this Build Your Tribe podcast to find out (plus six more ways to assess your business)!

And don’t forget to subscribe to BYT for weekly shows dedicated to your business and social media growth!


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