You have a clearly defined customer avatar (inc. demographics and psychographics)
You have at least one lead source generating a steady stream of qualified leads
You have a lead magnet that attracts your customer avatar and provides value to them
You have a marketing funnel to nurture and convert new leads into paying customers
You track all of the following metrics on a regular basis:
- Cost Per Lead
- Conversion Rate Per Each Funnel Step
- Customer Acquisition Cost
- Average time to first sale
You have a minimum of three for each of the following:
- Lead Source
- Lead Magnet
- Marketing Funnel
You review your marketing reports with a visual representation such as graphs/charts on a monthly basis and use the information to guide future marketing decisions
You have a fully self managing Marketing Department
You have at least one member of your team whose primary purpose is getting new sales
You have a defined process for getting new sales
You have a sales pipeline with stages that follow your sales process
You have a USP / competitive advantage over your competition
You track all of the following metrics on a regular basis:
- Current leads in each stage
- Conversion rates for each stage
- Customer Acquisition Cost
- Average time to first sale
- Average order value
- Average lifetime value
- Average number of transactions
- Repeat purchase rate
You don't have a single client that represents 10% or more of your annual revenue
You review your sales reports with a visual representation on a monthly basis and use the information to optimise and predict future sales
You have a fully self managing Sales Department
You have a company organizational chart
You have have detailed job descriptions for each role in your company
You have have documented systems in place for all commonly repeated tasks in your business AND are your people implementing those systems
You have documented Standard Operating Procedures and at least three Key Performance Indicators for each role in your company
You have contingency plans in place in case any one of your employees suddenly quit
You have redundancy systems for ALL potential points of failure within your business operations (Example: If your payment processing went down, do you have a backup)
You have accounts, vendors, systems and SOPs clearly documented and organised in a manual for your business
You have a fully self managing Operations Department
You have clearly defined company values and your team fits those values
On a scale from 1-10, every employee ranks at least a 7 or higher
You have basic employment contracts for each role in your company
Every employee has one-on-one meetings with their line manager at least once a month to discuss their performance and alignment with the company's values.
If you were to ask each employee what their three most important metrics are... They get them right AND be able to provide you with those metrics immediately
You have a functional org chart (includes job roles, compensation, key outcomes & key activities)
You have and follow a documented process for both onboarding AND off-boarding employees
You have a fully self managing HR Department
You get monthly management accounts (minimum of Balance Sheet AND Profit & Loss statement) by the 15th of the following month
You use separate bank accounts for provisioning cash for anticipated outgoings (e.g. taxes, operating expenses and profit)
You input all of your financial data (e.g. receipts and invoices) into an accounting system on a daily/weekly basis
You keep an up-to-date 13 week Cash Flow Forecast
You get your financial reports/metrics represented visually with graphs and charts
You use Financial Modelling Reports to forecast your company’s future results
You practice Financial Scenario planning on a regular basis
You have a fully self managing Finance Department
You have a Shareholders Agreement and Articles of Association. (If you do not have a business partner click true)
You have all your company's tax returns, (eg. CT, VAT, and PAYE) filed with HMRC and are digitally organised for quick access when needed
You have all of the minimum required insurance, licensing and permits
You have all required contracts and agreements for clients, customers and employees
You have an understanding of legal compliance within your industry (e.g Intellectual Property Protection, Employment Law Compliance, Data Protection and Privacy, Tax Compliance and Insurance Compliance)
You have a strong relationship with a corporate lawyer
You have an up to date data room with all relevant documentation needed to complete a due diligence checklist from a potential buyer
You have a fully self managing Legal Department
