6 Key Questions To Answer As A Business Owner
In this video, Mitch Hahn, CEO of Nordens, presents 6 key questions that every business owner should honestly answer. Are you ready to evaluate your business goals and take the necessary actions to ensure success? Let's dive in!
1️⃣ Question number one: Do you have a clear plan for both your personal and business goals? As a business owner, it's crucial to have a well-defined vision for your future. If you're unsure or answered no, it's time to reevaluate your goals and create a roadmap for success.
2️⃣ Moving on to question two: Have you developed detailed forecasts and scenario planning to map out your future goals? Predicting and preparing for different scenarios is essential for effective decision-making. If you haven't done this yet, it's time to start forecasting and planning strategically.
3️⃣ Next, consider if you receive regular financial information to compare against your forecasts. Staying on top of your financial performance is vital for monitoring progress and making necessary adjustments. If you answered no, it's time to prioritise receiving timely financial information.
4️⃣ Are you meeting your financial obligations every month without any issues? This is a critical question to ensure financial stability. If you're facing challenges in meeting your obligations, it's important to address them promptly to avoid further complications.
5️⃣ Do you have someone who holds you accountable for your business goals? Having an accountability partner or advisor can provide valuable guidance and support on your journey to success. If you don't have someone fulfilling this role, it's time to consider the benefits they can bring.
6️⃣ Lastly, imagine if you were unexpectedly absent from your business for two or more weeks. Would your business continue to operate smoothly without any issues? If your answer is no, it's essential to establish systems and processes that allow for seamless operations even in your absence.
If you've answered no to two or more of these questions, statistics indicate that you may not be on the right path to achieving your business goals. But don't worry, we're here to help!
At Nordens, our team of strategic business advisors can guide you and provide you with the tools and resources you need to turn those nos into resounding yeses. Achieving both your business and personal goals is within reach, and our experts are ready to assist you every step of the way.
Take charge of your business's future today! Speak with one of our advisors at absolutely no cost. Visit our website and get in touch to explore how we can help you navigate your business future successfully.
Thanks for watching! Mitch Hahn and the Nordens team look forward to supporting you on your path to success. Stay tuned for more valuable insights, and remember, your business's future starts now.
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