Surviving or Thriving? Consider the Trinity!

During any normal economic cycle businesses can be defined broadly in one of three areas: “Surviving” (or not…), “Thriving”, or “Business as Usual”. 

 What Covid-19 has done is to change that landscape both overnight and fundamentally. To “Thrive” commerce relies to a large extent on confidence and this has shaken confidence deeply and possibly for years to come.

 However, the majority of businesses by number are probably still in the middle group, though BAU may look a little different. 

Where are you in this “Trinity of Business”?

Maybe a more important question is "What will that look like for the short to medium term and what can be done by way of improvement"?

 The simple answer is around business fundamentals – People, Systems and Processes. Get these right and your BAU will be more robust. Good, established fundamentals will reduce your exposure to risks whilst also enabling the maximisation of opportunities.

So what are they?

Depending on how granular you want to go, all businesses can be split into a number of areas. For our Diagnostic we have divided it into eight:

1                    General Indicators – the bits that you can actually put targets around and measure pretty accurately

2                    Leadership and Vision

3                    People

4                    Marketing

5                    Sales

6                    Operations and Activity

7                    Finance

8                    Systems

 Each of these can be broken down further, and we’ll post regular articles on the Business Assessor Company page over the next couple of weeks so follow us & keep an eye out!