The Business Foundation Profile
A foundations profile for you and your team examines your capabilities and experience as they relate to the requirements of your specific business model.
This process I found very helpful as it allows someone else to evaluate your strengths and weakness objectively.
Many of us do these lists from time to time writing down pros and cons etc. especially when it comes to making big decisions, so it makes perfect sense to me to go through the process with someone else, who through a series of questions helps you evaluate what you are good at and where you may need to hire someone else to perform certain skills.
For example if you are weak in financial management or simply not passionate about this area of business ( maybe you are sales oriented) you will realize to be successful that you may need to hire a person with the right mind set, skills and passion to carry out the financial duties of the company.
This, in Metric Speak is called a “Gap Analysis” and while still quite subjective allows you to create clarity for building a strong plan on which to grow your business.
Let us know your thoughts. Have you done this kind of analysis for your business?