BOC Network Business Assessment
RequiredRequired Question(s)
Required 1.
Are you currently in business?
Yes, I have started selling my product and/or service.
No, I have done research on my business and have a business plan.
No, I am in the idea stage of forming my business
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For the following questions you will be asked to rate your comfort level and ability to perform certain tasks within your business. If you feel completely comfortable and are able to perform a task without any problems please mark 5. If you feel uncomfortable performing a task or are unable to do the task please mark a 1. Please add up your score for each section / question.
Required 2.
Please rate you or your business's ability and comfort with the following SALES & MARKETING tasks:
I can approach or cold call potential clients
I can create a marketing plan that details my outreach efforts
I can research my industry and find information on my competition
I can brainstorm different ways to promote my business
Required 3.
Please rate you or your business's ability and comfort with the following FINANCIAL tasks:
I can create a budget for my business
I can project my potential sales revenue and expenses
I can calculate the minimum amount of sales necessary to breakeven
I can calculate my profit margin
Required 4.
Please rate you or your business's ability and comfort with the following ACCOUNTING / RECORDKEEPING tasks: (Note: You may organize your business records on notebooks, accounting ledgers or on accounting software such as QuickBooks)
I keep receipts for all my business expenses
I am able to tabulate my sales and expenses on a monthly basis
I keep a record of all my sales / revenue
I have a business bank account (either checking or savings)
Required 5.
Please rate you or your business's ability and comfort with the following OPERATIONS & LOGISTICS tasks:
I have a business plan for my business
I have previous experience working in my business' industry
I know what legal structure I am or would like to be
I know what licenses and certificate are necessary for my business
Congratulations on completing BOC Network's Business Asseessment. Please review the instructions below to receive your guided self-assessment. Question 1: If you answered that you are in the Idea Stage of business planning we recommend participating in our monthly start-up class. During this 3-hour workshop you will learn about the components of a business plan, business planning tips as well as receive valuable business resources. If you answered that you have researched and/or have a business plan, we recommend that you make an appointment with a BOC Network business counselor to discuss your next steps in successfully opening your business. If you answered that you currently in business we recommend that you contact a business counselor to discuss strategies or techniques on how you can expand or improve your business.
For questions 2-5, Please sum the points for each question. There are 20 points possible for each question. If you scored less than 12 points for any one section please refer to our business resources page or make an appointment with a BOC Network business counselor to help you compensate for any weaknesses and capitalize on your strengths and refer to the helpful hints below.
Marketing: It is helpful to create a marketing plan to promote your business. Begin by doing research into your industry, identifying your target market and brainstorming the best ways to reach that market. With a timeline and task list you will be well on your way to marketing like a pro. BOC Network hosts a number of workshops on marketing. Please refer to our calendar of events to view the latest offerings for the month. Finance: Keeping track of your finances is an important way to monitor the health of your business. By analyzing your historical sales & expenses as well as budgeting for the future will allow your business to be better prepared for downturns in the economy. It also allows you to know how much money you have left in your business to be able to take advantage of opportunities for expansion. If you need help with calculations there is a cash flow template available on our business resources page. Accounting / Recordkeeping: Good recordkeeping can make tax time a breeze. By keeping up to date information in an organized fashion your and your accountant can easily and quickly get through tax season. It is important to use an organizational system that works for you. A few examples include files for each month of the year that contain sales and receipts, recording all sales and expenses in an accounting ledger or utilizing an accounting software. Operations & Logistics: A business plan and research surrounding the logistics of your business can help you plan and prepare for the future. Remember a good business plan will provide a valuable map for your business but is also a flexible / living document that changes and grows as your business grows. Business plan templates are available on our business resource website.