It’s Time for Your Checkup: The Importance of Assessing the Health of Your Family Business
As we start off the new year with personal resolutions, it makes sense to also make some professional ones. For instance are advised to visit our doctors for wellness checkups on a regular basis. The start of the New Year is the most popular time to commit to a healthy lifestyle and committing to being proactive about our own health. Why wouldn’t you want to do the same for your family business?
A wellness checkup helps businesses identify potential problems, as well as opportunities for growth. Following is a checklist of four major areas to consider in your annual wellness checkup:
- Organizational documents
- Management
- Financial reporting
- Professional relationships