Many of us have spent this year concerned over the health of our businesses or those in the community. Ultimately, a healthy business has a good balance sheet. It has more coming in than it does going out. But that is not the only indicator of business health.
In today’s world, where a quick decision from a politician can radically affect your business overnight, it’s important to know the early indicators of business peril. Think of these things as your business’ “canary in the coal mine.”
Signs Your Business Is Healthy (before you see it on the books)
Before you see any issues in the balance sheet, you can spot a healthy business in these areas:
Is your business healthy outside of the balance sheet? Go through this list and ask yourself how many of these qualities your business meets. If you’re missing a few, you may want to see how quickly you can add them. After all, they are a good indicator of business health long before you begin to see signs of trouble in the balance sheets or books.
Christina R. Metcalf (formerly Green) is a marketer who enjoys using the power of story and refuses to believe meaningful copy can be written by bots. She helps chamber and small business professionals find the right words when they don’t have the time or interest to do so.
Christina hates exclamation points and loves road trips. Say hi on Twitter or reach out on Facebook.