Financials
- Income Statement: Review your income, cost of sales, and expenses. Are you profitable? If not, what do you plan to do about it?
- Cash Flow: How much money do you have in the bank? Are you generating positive cash flow? Do you need to borrow or loan money to the business?
- Budget vs. Actual: Compare your actual numbers against your cash flow projections. Update your cash flow forecast.
- Accounts Receivable and Payable: Who owes you money? Who do you owe money to? Follow up with accounts receivable due.
- Business Expenses Tracking: Evaluate all the expenses and check if there are areas you can cut back.
- Taxes: Ensure payments due are up to date and set aside money for future amounts due.
Operations
- Inventory: count and evaluate your inventory. Identify slow-moving products and excess stock.
- Suppliers: Is it time to negotiate a better deal or look for alternatives?
- Employees: Review the performance of each employee and set goals for the upcoming month.
- Customers: Read customer reviews, comments, and feedback. Are there any issues that you need to deal with?
- Process: Are there any areas that need to be improved?
Marketing and Sales
- Sales: Are you achieving your targets online and offline?
- Marketing: Review the performance of your marketing. Check ROI, conversion rates, and customer acquisition costs.
- Website and Social: Review your website and social media performance.
- Competitors: Check what your competitors are doing in pricing and marketing
Planning and Goals
- Monthly Review: Meet with your staff to discuss your business performance
- Goals: Set achievable goals for the next month.
- Update your business plan
- Create a list of action items and assign responsibilities.