Housekeeping - Audit your business

Ideally once a year you should do an audit of your business.

Be critical and ask questions such as:

• Is the business on track financially?
• Are you achieving your objectives that you intended?
• Is there parts of the business which need focus?
• Are there opportunities which you haven't been able to capitalise on?
• What is holding your business back?
• Do you have the skills to take the business to the next level?
• Should you sell some or all the business?

Finally make sure you ask are you enjoying what you are doing?

This should be a frank and open discussion with your staff and business colleagues and will involve reviewing feedback from customers and other people.

Your should also include in this your personal friends and partner.

With this information make a decision about where you are going and where you want to be in a year, two years or more.

We have been doing this at Rainbow Tourism as we realised we need to focus on our core gay and lesbian business and also need further funds to make it grow. We have decided as part of this review to sell a large number of domains which were used in previous businesses and also sell the Pink Pages.

These decisions are never easy as you can always see the potential but ultimately you have to make a decision of where to focus ones energy.

So when did you last do a business audit?