As we all know, running a business is not the most effortless venture. It’s time to audit your business! Did you know auditing isn’t just for the money revolving around your business but also your services, marketing, client retention, and so much more!? Are you ready to make your life less hectic?
I probably OBSESS over auditing my business too much. But the organization of a company is KEY to more manageable, less stressful growth.
When Should You Audit?
I highly recommend quarterly audits in your business, even if you’re currently the only one working full-time. Now, this may not sound fun to you but try making it an event!
My girls, Dylan, and I always have a quarterly lunch to go over what goals we met, what goals we didn’t, why that happened, how we can improve, and how our team feels about their position and work.
In the last quarterly meeting, we had four people sitting around the table. Next quarter we may have 6. Understand this is why quarterly is better than yearly. As you grow, everything will continue to change, and it is essential to stay up to date with your numbers and your employees.
Happy employees make for a happy business.
Next, I sit down with Dylan, my partner in the biz, and we go over our main KPI’s. If you don’t know, KPI stands for Key Performance Indicators. These indicators are vital during an audit and ultimately show how your company is doing.
You want to focus on which key performance indicators are the most important for your business. Every company will vary in their KPI’s but here are the steps I use when evaluating each of ours.
I use a 4 step process:
- What worked for this KPI
- What didn’t work
- What can you improve on
- Should changes be made to this KPI?
As business owners, stuff can’t always be fun, and we have to be looking at things from a business perspective. (Unless you’re looking for a hobby, not a business that is making you a profit.)
We’re all looking for profit, right!??
It’s time to take charge of what may have been slipping through your fingers. Audits will help you maximize your efforts and weed out unnecessary time-suckers to become more profitable and continue to build successfully.
I will be giving five free Social Media audits to the next five in-person retreat ladies who sign up! The audits are worth $997 as they also include a 30-minute coaching call!