3 Main Things To FOCUS On In An Organizational Assessment

We’ve spoken quite a bit about the importance of considering a Corporate Turnaround for your business. Now, we’ll start exploring what that actually looks like practically.

First, we’ll start by talking briefly about what to expect an Organizational Assessment (OA) to focus on and why these focuses are so important. 

Operations

Businesses effectively are a collection of strategic activities that are put together in a system. Meaning, if the business does Video Editing, then there is a step-by-step process that begins with identifying a potential client that is in need of such a service, selling them the service, following up with them, and making sure that they are satisfied enough with the service that they’ll be happy enough to refer others in need of Video Editing to you. This step-by-step process is called a system and this system is what operates your entire business. If this system has any flaws anywhere along the way, your business suffers.

Thus, an OA takes into account each step of your system and looks for where it’s doing well, or where the system might need improvements. 

People

The next focus ought to be on the people who actually operate this system. What good is a machine without its well-oiled parts?

The people are everyone that comprises the day-to-day operations of the business. These are the investors (if a company has those), it is the team members, it is the contractors, the collaborators, the partners, and ultimately the customers who are actually paying for the company to remain in business.

Any clever person will see how critical each of these components play into the health and well-being of the organization - if any of these people are not conducive to the business or if any part of this chain is broken, guess who gets the hit? 

Yup, it’s the bottom line of the business!

This brings us to the final part of our focus…

Finances

The money…

The oil that keeps the machine going. 

We all go into business to ultimately make a living and give a living to others. A business without sales isn’t a business. Although money isn’t our primary focus - it actually is the last, because it is the outcome of a healthy business that is doing business properly.

We try to make sure that the business is not spending too much money where they are not supposed to be. We make sure that the business isn’t just throwing money at problems, but rather putting their money in the right places to ensure the sustainable growth of the business in the long term. So many businesses burn through unnecessary funds hoping that it will solve issues, when in fact sometimes, it only makes it worse. 

Finally, we put a lot of emphasis on the people who are paying for the services and products provided by this business. Are they paying the true value for what they are getting? Are they happy to pay the prices requested of them? Is there room to ask for more? Or are we in fact too expensive and by lowering our prices to our true worth, the business will actually grow and thrive? 

Conclusion 

In short, the Organizational Assessment (OA) puts its focuses on making sure that the business is effectively running and doing so smoothly. It looks for areas that are critical for the longevity of the business. Think of this OA as being an annual medical check-up to make sure that all in the body are running effectively in the healthiest of ways. The faster we catch flaws in our business the less money we end up spending and the quicker we are to act. 

By focusing on how the business is running, who is running the business, and whether or not these operations are resulting in a black bottom line, is the lifeline for the business and the assurance (or insurance) that our business is here to stay for a while. 

Businesses that perform OAs regularly and typically do better than their counterparts, end up selling for more, and are a worthwhile investment. 

What are you doing with your business? When was the last time that you assessed it for its performance? 

—------------------------------------------------------------------------------------------------------------

Feel free to reach out if you would like to book a complimentary discovery call to see if our team can help you with increasing the value and profitability of your business. 

Yermi Kurkus - is the co-founder of the Yermi Kurkus Consulting Group. With a family background in Entrepreneurship, a heart for community and philanthropy, and his love for psychology, Yermi dedicated his life to helping businesses thrive, earning an MA in Organizational and Industrial Psychology and is in the process of attaining his Doctorate in that same field. Today, Yermi creatively partners up with businesses to help them increase their value, productivity, and profitably by focusing on their operations and talent. The results of which helps facilitate the buying or selling of businesses as well as assisting in the overall well-being of the workplace and workforce.

To learn more about Yermi Kurkus feel free to follow him on LinkedIn, Facebook, Instagram, YouTube. Or you can book your first 30-minute FREE consultation here.