Last week, Avondale senior leaders met as a team to set our growth goals for the coming years. In the course of these meetings we examined our current business model performance in great detail.
Although we have grown aggressively and profitably in recent years, we wanted to be sure that our business model was hitting on all cylinders before we committed to further aggressive growth. After all, it is pointless to hit the accelerator if the engine is misfiring: At best, we under-deliver vs. our goals, and at worst, the engine breaks down entirely and we grind to a screeching, unprofitable halt.
Here are six questions we asked ourselves to decide if the business model needs a tune-up. The questions (and the follow-up questions that each drives) address every important aspect of our business model. This type of "zero-based" approach enables us to take a fresh view of the business.
By working through these questions together, and having done our homework in advance, we had a robust debate on our business model. We were able to agree as a team on which parts of the business were humming along quite nicely and which parts need a tune up. We also have agreed on a path forward to address our tune-up challenges over the coming months so that we can really put the pedal to the metal.
We will be holding these types of sessions periodically going forward. Like a car engine, a business needs regular tune-ups to run smoothly.
For your business, what are the answers to the above questions? Does your business need a tune-up? Share your thoughts with us at firstname.lastname@example.org.