Complete 360 Business Audit, Assessment and Action Plan for Emerging Franchisors and Entrepreneurs
If you could survey every business owner in the world and ask, “What would you like to change about your business this year?” it’s safe to say that very few would answer “Nothing.” Most business owners would likely indicate that they spend a considerable amount of time creating a strategic plan and then implementing, supervising, and facilitating change.
Launching and operating an emerging franchise brand requires the onus of continually evaluating your business through performance, management, and financial audits. Business assessments help owners search out problems, evaluate performance, and keep all aspects of the company aligned with goals, plans, and initiatives.
Internal and External Business Assessments
Strategic management involves a great deal of business assessment. Generally speaking, this assessment is both internal and external.
The first step of strategic business assessment generally identifies the organization’s strengths, weaknesses, opportunities, and threats (i.e., SWOT or SCOPE analysis). This helps build a strong foundation of knowledge to ensure the development of a strategic plan that remains relevant, meets customers’ and clients’ changing needs, and optimizes available resources.
Internal Business Assessment
The internal assessment is a collection of the strengths and weaknesses of your organization’s operations. It includes a survey of human and physical resources and assessing clients, staff, stakeholders’ satisfaction, and the board’s effectiveness. The results of an internal assessment reveal the strengths and weaknesses that confront your organization.
Why Is Internal Business Assessment Important?
In the framework of strategic management, internal analysis is essential for a few reasons. Your business might be spending too much in some areas due to internal inefficiencies; alternatively, you could be leaving money on the table. The only way to uncover these things — and get a real understanding of how resources are being utilized in your organization — is through internal analysis.
External Business Assessment
Unlike internal assessment, external assessment is less about your organization and more about the business environment (including your competitors). Again, the term is self-explanatory — looking at external business analysis factors instead of internal ones.
Examples of external factors include:
- Number of new competitors entering your industry
- Cost of the materials used to manufacture your products
- Regulatory frameworks set out by governments
All are examples of variables that are out of your organization’s control and should be considered in the external assessment. The result of an external assessment reveals the opportunities and threats that confront the organization.
Why Is External Business Assessment Important?
External assessment is also very important for business owners in the context of strategic management. When evaluating your company’s goals and resources, you need to look at the surrounding business environment. In a perfect world, it would be sufficient only to look inside your business; in the real world, however, you need to be conscious of external forces that might affect your business’ operations and throw you off course.
What is EmmerScale’s 360 Business Assessment?
EmmerScale’s proprietary 360 business assessment is three days, two nights on-site at your corporate location that includes deep dive into every aspect of your business, including.
- Key Players — One on one and group time, gaining an in-depth knowledge of their roles and deliverables and understanding of their strengths and weaknesses, where they need additional development, and their upside capacity.
- Field Operations — In-field observing operational execution, client interaction, and all internal workflow, assessing operational strengths/value proposition, and areas for improvement.
- Systems and Process — workflow walkthrough (Marketing, Sales, Operations, IT, Finance, Support, Franchise Development.
- Executive Leadership Team — Assess leadership dynamic and synergy, identifying areas where additional executive horsepower is needed.
- Strategy Goals, Mission, Vision —Group meeting to gain a detailed understanding of strategic plans and business goals and vision so that all tactical execution is in alignment.
We also provide two weeks (elapsed time, not total time) of follow-up, close contact remote deliverables, including:
- Introduction and walkthrough of powerful EOS Model, including using the EOS Accountability Chart and People Analyzer
- Interviewing of a sample of existing Franchise Partners, obtaining objective feedback orally and via survey
- Interviewing of all internal franchise team members, obtaining objective feedback orally and via survey
- Create SCOPE analysis of the business with recommendations
- Develop TOPA (Total Online Presence Analysis) of website(s) and digital marketing efforts, with recommendations
- Complete systems and process assessment and analysis with recommendations (Operations, Sales, Marketing, Finance, Support)
- Org/Accountability Chart assessment and recommendations for organizational build-out to scale, including the potential need for fractional/interim executive positions
- Assessment of current franchise development strategy and execution with recommendations based on growth plans (waived if using an established national FSO for outsourced franchise development)
- Additional executive advice and counsel as needed
Our audit process includes spending time with executive and key team members, interviewing and surveying existing franchise partners.
Revenue Generating Strategies for Business Development and Growth
We provide a complete workflow assessment from marketing lead gen, through post-production, including evaluating your current tech stack. We then assess each of these areas for strengths and opportunities for improvement, provide you with a SCOPE and TOPA (Total Online Presence Assessment), and create a very detailed action plan to equip your brand to scale effectively.
Our comprehensive process enables us to get to know you and your business. Key deliverables include specific recommendations for improvement that you can implement stand-alone into your existing operation. Alternatively, you can choose to engage our fractional executive services longer-term to help you execute your strategy.
To learn more information or explore how our proprietary 360 business assessment process can help you analyze your market, business, and competition, schedule a call here or call us at (336) 365-8005.