How Strong Are Your Financial Fundamentals?

1
Name* This field is required.
First Name
Last Name
2
Email* This field is required.
example@example.com
3
Do you and your team have current and accurate financial records and reports that provide meaningful and useful information?* This field is required.
I know how much money I have in my bank account, and how sales are doing. I keep track of expenses on a spreadsheet.
My bookkeeper takes care of things; and I have someone who prepares my taxes; but other than that I just focus on juggling cash.
Financial reports don't really tell me anything useful. I depend on my accountant to flag things for me when she looks at the numbers.
We have our financial and operational systems tied together pretty well. Our data is always up to date and we rely on up to date financials and sales data to make decisions.
4
Does the company have the cash needed to implement the plan and achieve your targeted growth?* This field is required.
I just make do with what we have in the bank.
We have so much debt right now, I can't possibly borrow any more. And yet, we're constantly juggling bills to keep our staff paid and vendors happy.
We invest our profits in growth. We could really use more capital, but I don't know the best way to do that.
We have a funding plan that combines increasing profits to invest in growth with very targeted borrowing and some outside investors. It will take time, focus and some great connections but we'll get it done.
5
Are you satisifed with the company's level of profit? and your Owners Pay/compensation? * This field is required.
As long as I can pay rent I'm OK.
The business sucks up all my money..
Profit and owners pay? We put all our cash into growing the business; so yeah, I would say we need more profit and yes, I'd love to pay myself more.
We're at or above the industry average for profit and pay levels. We still try to do better but we're solid as we are today.
6
Does the company have a clear vision for what kind of business you are building and the values that are important to the culture and impact your are creating?* This field is required.
The company is rooted in my personal mission, and I hire like-minded people so we're pretty united.
We review our vision statement at the beginning of the year or when we do planning. Its mostly tied with our branding efforts.
We definitely have clear vision and values; we always look back to catalogue our impact at the end of the year. We look for progress year to year.
Our company vision and values are baked into our client and team onboarding materials; and into all of our planning and reporting documents/dashboards. Its always top of mind.
7
Does the company have a clear path from your current operational and financial reality to where you want it to be in 3 years? Do you use it to make decisions?* This field is required.
We have a big picture goals; but I'm focused on day to day; or week to week.
We set a budget in January but we don't really use it. Our plan is to make through each month without loosing money.
We have a plan and a budget that we create each year, and I have a 3 statement financial plan I can bring out for investors or a bank if I need to apply for a loan. But its usually not up to date.
We have a 3 to 5 year plan and look at financial reports against our budget each month. The plan is updated quarterly (or twice a year) so we continually forecast at least 12 months out.
8
Does each team member have a clear understanding of their role, and both the resonsibility and authority to make decisions in line with their role? * This field is required.
I mostly use consultants so I can avoid dealing with payroll and taxes.
We create a new job description for each hire or long-term consultants. Everyone reports directly to me as owner so my team can always bring issues directly to me.
We have specific job descriptions and roles. Our senior leadership team meets regularly. But as owner all the authority really comes back to me.
Our senior leadership team meets regularly, and each team lead is responsible for the outcomes in that department. We have structures to get input on decisions that are truly cross-cutting.
9
Does the company have a culture of taking action and holding team members accountable for results?* This field is required.
Every day is a new day. Somedays are action packed; other days its hard to focus or get anything accomplished
I spend a lot of time putting out fires and stepping in to solve problems my team can't handle. I constantly feel behind so I don't have a lot of time to think about systems or how to make things better.
My managers are very independent and good at keeping things going. Everyone has their own task management system; sometimes things fall through the cracks.
We have a company-wide set of goals and objectives; Each team and individual have tasks realted to the quarterly objectives and its all organized so there is transparency about how well each project is moving ahead.
10
Does the company have a short list of key performance metrics that help you & your team understand and RESPOND to how your company is performing?* This field is required.
I have a calendar and notebook where I track my objectives and keep track of the things I want to focus on. We don't really need a fancy dashboard.
We have a whiteboard where we keep track of high level goals -- like new sales or client successes. Its updated whenever someone has something important to add.
We have sales data in one place; and website data somwhere else. Some people really thrive on knowing the numbers but its not really all in one place; which means that only people who know the data use it.
We have a connected and auotmated dashboard with visual indicators and key statistics that is constantly up to date.
11
Does the company have a framework for improving results based on learning from your actions? * This field is required.
We love to celebrate our wins -- that gets everyone excited.
Not really; we do try to improve our results; but we don't have a clear process for that.
We've created processes for this, but don't do it all the time. We do have a consistent process for employee reviews and feedback; but its more individual than team based.
Yes! We are constantly looking at results and impact and working on way to improve each step of our workflow. This happens company-wide and in teams on regular basis.
12
Calculation
13
Results
Should be Empty: