Assessing and analyzing your business helps identify areas where you may need improvement. By closely examining your company’s processes, you can find ways to make things run smoother and more efficiently from adding new products that complement each other, finding better procedures, and adding new employees.
This assessment aims to improve your bottom line and make your business more successful overall. Businesses can better understand their customers, employees, and financial situation. The MOST important factor is that they can ensure that they are making the best hiring decisions, as we all know that employees can make or break your business.
How can I perform a business analysis?
Since we are talking about hiring new associates, this will be geared toward that section of the assessment. We recommend finding an experienced Business Analyst for a complete business overview.
But to find a new associate, you can answer a few questions that can help you identify which type of roles and traits you should look for in a candidate. Feel free to add more questions and get your staff involved in the process, as more eyes will help the process 😁
· What does your business need to grow?
· Do you need an employee or a new process?
· How can you get there?
· What is your culture and brand?
· What areas could you improve on?
· Identify your strengths and weaknesses in your business.
· Identify your strengths and weakness in your staff.
· What are your short-term and long-term goals?
*Please remember that weakness does not necessarily mean a bad thing, as some people are stronger in specific skills than others and the point of a team is to fill those gaps.
What does this have to do with hiring?
Analyzing your business will give you a clearer picture of its health while allowing you to make changes accordingly. Too often, we are in deep with paperwork, human resources issues, and time suckers, where we forget to oversee the fundamentals of the operations. Preparing your goals will set you up for success when you bring in potential candidates, as you can vet them based on your desires.
Once you figure out what your business needs to succeed, you can work on sourcing candidates. Your sourcing will be based on the goals, strengths, weaknesses, and needs of the questions above, which will strengthen your business. Of course, do not forget the most important part… culture. While looking for those amazing candidates, you want to ensure that they will become your brand and culture, not destroy it (think about how many times you stopped going to your favorite store based on one person).
Why is a business analysis critical?
By analyzing your business’s needs and goals, you can ensure that you hire the right people for the right positions. Too often, we hire out of haste and assume that we need someone with prior experience in the optical/optometry/medical field, whereas we need someone focused on sales or customer service, or a bit of both. Personally, I got thrown into it at 20 years old with no medical yet had sales experience, and I think I turned out fine 😉
This will save you time and money in the long run as you will not have to waste resources coaching or training staff (not just in technical skills, but people/sales skills) who are not a good fit for your office. As a bonus, when you fill those missing gaps, it can be an opportunity for the new employee to train the other staff in those areas. We firmly believe that without the best people, your business will suffer; however, specific individuals will complement each other…meaning does not hire “cookie-cutter people.” Make your staff diverse!