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 How is your Business heartbeat! Is it pumping steadily? 

Is your Business flourishing, functioning at full capacity or coughing and spluttering along. 

Not well!  

Don't put it off, seek help! 

• Just as we are encouraged to look after our own health with an annual check-up, it makes good sense to undertake a health check of your Business.  
• We all know the importance of having our body's major systems running smoothly and effectively to let us enjoy our activities, work, leisure and play. Our check-ups are the means to assess functioning ability and detect any problems. No different to your Business, a Health Check-up will assess components, measure performance, and identify deficiencies, and ailments. It will also reveal what is working well.  
• In essence, a full diagnosis provides a current and comprehensive review of the Business financial stability, compliance risk, structure and key operational functions and processes. It allows you to see the ‘results’ and know the actual health of your Business! Importantly, if any ‘signs of disease’ determine what treatment is needed if any. 

The benefits of undertaking a Business Health Check-up are many! 

Let’s start with the top 7 areas to examine: 

1. Goal Setting 

2. Financial Status 

3. Mental Health & Wellbeing 

4. Workplace Safety 

5. Policies, Processes & Procedures 

6. Marketing 

7. Seek expert help if needed 

1. Goal Setting: Provides a solid framework or skeleton, supporting your Vision and Mission statements that are both inspirational and motivational forces. Having well defined goals with a set of criteria helps you take control of your Business direction, provides guidance and the opportunity to monitor targets and outcomes.  Following the SMART goal setting method is an option. 

2. Financial Status: Debt, earnings and equity! Finances, the heart of every Business. Know your bottom line! A complete examination looks at stability, profitability, cashflow, and balance sheet. We all need a healthy heart beating! 

Not so healthy, act now. Fully expose all parts, including evaluation of products and services, and if and how they, the Business, can be enhanced if needed. Pricing and labour costs are examples of increased expenses that need to be accounted for. Determine future projections, is there a healthy lifeline! 

3. Mental Health & Wellbeing: the stresses of everyday life and pressures of running a Business, not getting enough sleep, can limit our functioning abilities and make us susceptible to mental health challenges. Looking after your own wellbeing and that of your staff is critical. Make sure you have the necessary resources to support them and seek professional help if needed. The same with your Business if its health is suffering steps need to be taken to remedy the situation.  

4. Workplace safety: Can’t be ignored. Within your Business it is a must to uphold health and safety practices. Under Australian WHS laws your business must ensure the health and safety of your workers and not put the health and safety of other people at risk. Examples include; provide a safe work environment, provide and maintain adequate facilities, and maintain safe machinery and structures are just a few of the requirements. Engage a professional advice and Training service as needed to know and meet your responsibilities. 

5. Systems, Procedures and Processes: the arteries of your Business operations. Efficiencies, effectiveness and as part of risk management it's critical to have and maintain clear procedures and processes. These create standards and values for your Business, helping everyone to know how to operate. Importantly, ensure policies are documented and accessible and staff are educated to help them understand the importance and purpose of each. Watch for more on this topic. 

Efficient Systems are equally important for conducting and managing your Business activities. Sound Accounting and bookkeeping methods are examples. Tax matters! If you a not comfortable with numbers and paperwork seek expert help from Blackburn Accounting. Let us do what we do best! 

6. Marketing: is the opportunity to ‘sell’, promote and showcase what makes your Business unique. Let it shine and radiate ‘good health’ in this medium. You might have the brightest, biggest and best product or service in the world but unless you have some form of marketing no one will know about it. Show, tell and sell your wares! Social media and online platforms offer various promotional opportunities. Facebook, Podcasts, your website, with the click of a mouse the world is your oyster! 

7. Seek expert help if needed: Don’t let your Business deteriorate, if there are health issues seek the appropriate expert to help you and your Business get back on your feet and operating at optimal levels. 

Blackburn Accounting offers a range of services. Our Team is here to provide the answers you need to run a successful Business that’s running at peak performance. 

Call us if you want to: 

• Increase Business efficiency 

• Stay in compliance with tax laws 

• Boost your revenue and profits 

• Personalised service