Every business passes through various stages of growth and development on its way to achieving the success that the owner is looking for. Each stage has its own unique challenges and opportunities, and the business owner must properly setup, execute, and manage the basic business functions to overcome these challenges and be successful.

The assessments have the following sections with up to 5 questions in each section;

• -Business foundation
• -Product and Services
• -Marketing and branding strategies
• -Accounting and financial growth
• -Sales and growth
• -Business Operational Systems
• -Personnel and vendor development
• -Business skill growth
• -Business Owner(s) performance

Having a solid foundation is fundamental to the success of any business. You must make time to develop your plans, strategies and goals to determine where you are today and where you want to be in the future.

Response options: 1- Strongly disagree 2- Disagree 3- Agree 4- Strongly agree

You must understand that the products and services you offer will determine your business's success. Your business must be good at finding and growing successful products and services to obtain sustainable growth.

1- Strongly disagree 2- Disagree 3- Agree 4- Strongly agree

You must understand your business's marketing and branding position to sell your products and services.

1- Strongly disagree 2- Disagree 3- Agree 4- Strongly agree

Accounting tools are the foundation of any business. You must have the proper tools to ensure your business is growing.

1- Strongly disagree 2- Disagree 3- Agree 4- Strongly agree

Sales don't happen by accident. You must have a committed strategy to ensure that you are selling, selling, selling.

1- Strongly disagree 2- Disagree 3- Agree 4- Strongly agree

You have to know who your REAL customers are. They are also the best source for referrals.

1- Strongly disagree 2- Disagree 3- Agree 4- Strongly agree

Business operation systems are the lifeblood of the business. Do you have suitable systems in place?

Response options: 1- Strongly disagree 2- Disagree 3- Agree 4- Strongly agree

The support team and suppliers are essential in my business, and I have processes and procedures to manage them.

Response options: 1- Strongly disagree 2- Disagree 3- Agree 4- Strongly agree

Score Interpretations

Total Score 101-150

This score indicates a high likelihood that you have an excellent financial plan. 

While this assessment does not address what you do with that plan, it shows it is likely to be very good. You’ve probably invested some time and energy into ensuring that your financial plan is solid. Whether you consulted with an expert or did some research, you have covered many of the major bases that will provide the economic success of your business. 

This score also indicates that you are likely skilled in organisation, planning, and predicting future contingencies. You are likely to feel less stressed and more relaxed knowing that you have accounted for your business's financial success.

Total Score 51-100

Your score indicates a high likelihood that you have a proper financial plan. 

There is undoubtedly a good deal of room for improvement. However, there are also some strengths and positive characteristics. You have likely done some research and know the essential elements of a financial plan. You may have created an income statement, a P & L, or a balance sheet to view your profits and losses so you can plan accordingly. Since the lack of capital is a significant cause of small business failure, you may want to look at your financial plan in more detail and determine whether more contingency planning or financing options should be added.

Total Score 0-50

Your score indicates that you do not have much of a financial plan in place. 

Either you have not started to create one or do not have a detailed one. There are many critical essential components of the financial plan that you have overlooked or have not adequately addressed. You may have paid great attention to some details while leaving out other aspects. 

If you are not feeling stressed already, the absence of financial planning will likely cause you stress down the line. Since lack of capital is a significant cause of small business failure, you may want to look at your financial plan in more detail and perhaps seek the assistance of a financial professional to ensure your business is successfully launched and operated.

For more great business development tools join the CAPBuilder Network membership site Small Business Vida www.smallbusinessvida.com.