To make it clear you don’t have to point out everything that’s wrong with your business. You have to look at it as a way to identify opportunities to grow your business. As an entrepreneur you have to make your own SWOT- analysis. But what does SWOT mean? Well, you have to look at your company ’s strengths, weaknesses, opportunities and threats, this is exactly what the business assessment does.
- Strengths: these are positive qualities that can give something an advantage
- Weaknesses: these are critical properties that may be detrimental
- Opportunities: these are (a number of) circumstances that can bring potential benefits
- Threats: these are (a number of) circumstances that can make a negative contribution to the intended goal.
A regular business valuation is beneficial to your success as an entrepreneur, knowing what makes your business valuable and desirable to potential buyers can steer you in the right direction and keep your business healthy throughout the years. This Business Assessment Template gives a good indication of what buyers will look at when buying your business.