We understand that it is wise to have an annual physical examination because we need an opinion other than our own. We are asked, “How do you feel?” But our judgment on that point is not accepted by the physician, merely noted. Certain tests are done and certain observations are made. We want the doctor to do tests and make the observations – to check for likely problems. Then we want a report from the doctor providing an objective and knowledgeable point of view. We don't have the checkup to have the doctor take our word for the state of our health.

The situation of the individual concerned about health is analogous to that of the business owner concerned about the status of the business. Even believing the status of the business is well understood, the wise business owner from time to time will want a different perspective - a different set of eyes to view the business.

As with the doctor offering the annual physical examination, Business Transition Consulting (“BTC”) provides testing and observation of owner-managed businesses. Questions are asked of the owner and the owner’s opinion considered, but the judgment is reserved pending observation of the business. Conclusions, given in a written report, are made based on rational judgment blended with the experience of a seasoned business consultant - a different and objective perspective.

A business assessment can include:

  • Conduct of initial conference on the history of the business and the business plan.
  • Tour of the business facility including employee interviews.
  • Examination of financial reports, including tax returns, of the last four years of the business.
  • Interviews with selected executives and owners.
  • Review of accounting systems and software, including an evaluation of management reports.
  • Observation of sales and marketing strategies in the context of the market plan.
  • Review of operations, including tracked information, reports utilized, and productivity.
  • Determination of budget use, including the tracking of compliance consequences.
  • Determination of proactive monitoring of costs, especially the effects of costs on profitability.
  • Review the use of incentive compensation plans based on productivity yield, not profit sharing.
  • Review of inventory records (raw materials, supplies, work-in-progress, and finished goods).
  • Determination of use of break-even analysis for the product group, sales personnel, or marketing.
  • Review of cash flow management, including management of payables and receivables.
  • Review tax planning, including tax strategy with respect to the business entity.
  • Determination of asset protection including the transaction of business by limited liability entity.

Would you appreciate learning what another set of eyes might see about your business? Wouldn’t this be especially valuable if these were the eyes of an experienced business consultant? One improved business practice could easily pay for the assessment with increased profits.

BTC’s assessment is an excellent and efficient way to obtain a checkup for a business.