Your Semi-Annual Business Review

Did you know that Hawaii’s small businesses represent over 96% of employers, and account for 54% of the private sector workforce? It’s a fact: Our small businesses are crucial to our state’s economy.

I know many of my readers are business owners, or they are interested in becoming their own bosses, with their own businesses.

So today’s Financial Fitness tip is for YOU… our hard working business owners, and those who aspire to be business owners.

As a business owner, I suggest you conduct a semi-annual business review. According to Inc. magazine, here are 6 questions you should be asking yourself and your team.

#1: Who is our Target Customer and where do they live, work and play?

#2: How do we gain and keep more customers?

#3: How do we serve our existing customers better?

#4: How do we price our products or services profitably and competitively?

#5: How do we attract and retain talent for our business?

#6: What investments should we make in growth opportunities that align with what we do?

Thinking about these questions, then acting on the answers you come up with, is the most important thing you can do for your business.

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