Financial Health Check: Assess Your Business Finances 

5 Ways to Improve the Health of your Business

February 5, 2019

What does it actually mean to have a healthy business? A healthy business is a soulful business that encourages creativity, connection, and big dreams. It cares for its workers and customers and values its purpose. With that said, here are 5 ways to improve business health.

1. Ask yourself if your business has a purpose.

Why are you in the business you’re in? What is your passion, your guiding force? And do those that work with you know the answer to those questions? Would they answer similarly to you? Create a mission for your business that your employees, and even your clients, can get behind. If everyone is working towards improving your business health, it will improve that much quicker.

2. Have a clear vision of what you want your business to become long term and short term.

Create goals that are short and long term, and work towards them like it’s your job (because it kind of is)! Involve your employees in your goals and encourage them to also set goals to improve business health. When everyone understands the long term aspirations of their leader, it helps them to cast additional visions and help the firm progress in the biggest goals.

It’s important to set goals so you know where you have failed and where you have triumphed. Learning from your mistakes is one of the greatest things you can do for yourself in the process of improving the health of your business.

3. Know Your Product, and know it well.

By knowing your product, the details of what you offer (products or services) will change the game when it comes time to sell. Know WHAT you offer, WHY you offer it, HOW MUCH it will cost, and WHY that price. When you know your product, you also know who you want to be buying it. Specialize in something. Find your niche. Speak their language. Being able to improve business health is heavily driven by having a steady cashflow, and being a good salesperson is key. 

Buyers will walk away from the engagement if all you do is state a price, especially if it is out of their price range. You need to know what value you can offer them and explain the return they will receive on their investment. The days of buying just to buy are out; people want value for their money, a relationship, and a strong sense of trust.

4. Identify and Cultivate your Company Culture 

What makes your work environment and client experience different than others’? How public are you about your business philosophy? Creating and being public about your company culture is one of the best ways to improve client and employee buy in. Business health starts from within, and if you would like to improve your business health, start making internal changes first. 

Our business is unique because everyone has the option to, and is encouraged to, work entirely virtually. We are a firm of the future. 

We work from our home offices among the rest of our lives. And we’re probably wearing sweatpants while doing it. Does that make us less qualified? Definitely not – it just makes us more comfortable. What is your company culture?

Read Gabby’s book, The Trusted Employer, to learn more about creating your company culture.

5. Truly believe in your product, your employees, and your business.

If you believe in yourself, your company and your employees, it shows in everything you do and say. Belief garners trust, and trust builds lasting relationships and ideals. Your business should shape your life, and the lives of those that work for and with you. Believing in what you do and who you work with will build your world and your profits.

Your business is as healthy as the effort you put into it. If you’re looking for more information on having a healthy business, feel free to contact us. We’d love to talk it over with you.


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