Everyone should have a personal goal just as every business should have a business goal, business objectives and targets. There is no use in having a goal without a laid-out plan of how you intend to achieve the goal – personal or business. Sometimes, there may be a need for a plan ‘B’ where the plan “A” fails. The important thing is to be focused on the goal, constantly review, and evaluate your plan until your goal is achieved within your estimated timeline.
Evaluating your planned actions, activities, and outcomes, helps you determine what works well and what you may need to improve upon. Evaluation helps determine acceptability or plausibility; possibility or probability; and suitability or adequacy. Evaluation saves you both time and money.
Like a physical health check, carrying out a financial health check is key to living a successful and happy life. A personal financial health check helps you know your personal monetary status with regards to your needs and goals, so you can make better financial decisions now and for the future. There are four components involved in the check: What you save, what you borrow, what you spend and your plan.
Your business also needs a Business Health Check. The check ideally should embrace a comprehensive diagnosis of the financial and non-financial aspect s of the business, to determine the level of success and strength and to point out possible ways of future improvement. A business health check, helps you discover those salient or silent killers and gives you opportunity to fix the problems, thus giving your business a longer, successful, and profitable life span.
A business health check will help ensure your business is being efficiently managed and that you are on the right track to success. At GOBETH Reliance Investment Company Ltd, we ensure our investee companies are constantly evaluated to check health status and fix necessary issues to ensure sustainability and profitability.
GOBETH is an investment company providing business advisory services, project financing and project oversight services. We are committed to making investments that positively impact on the triple bottom line of people, planet and profit.
By Imaobong Amaechi
