Freedom Score – OptiGrowth

This report might just change your life & Business forever

20 questions. ±15 minutes. Are you ready?

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14%

Name*

Please fill in your name

Email Address*

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Contact Number*

Please make sure to include the International format/code (Eg. +27 for South Africa)

Company Name*

Please fill in your company name

Country

The Country your business mainly operates in

Revenue

When thinking about your sales cycle, how predictable is your revenue?*

1. Not too sure, but we are making sales

2. Our business is predominately based on once-off sales, with a few regular customers.

3. Our business has regular spending customers

4. Our business has fixed contracts with most of customers that get reviewed annually

5. Our Business reviews our revenue models at least annually and we track the life-time value of our clients

When it comes to attracting new customers, how would you describe your client acquisition process?*

1. Marketing and Sales are one function of the business to achieve sales

2. Our business sends out mailers, ads and campaigns on a regular schedule, depending on the time of year

3. Our Business has a defined Marketing plan, but we are finding it hard to implement

4. Our Business has a defined Marketing Strategy and Calendar with a responsible manager co-ordinating this

5. Our Business consistently reviews the effectiveness of our lead generation efforts and sales conversion strategies

Consider your current market and how your service or pricing is perceived. Would you say…*

1. We've set a price that we feel works for our market

2. Our pricing is based on a margin % based on the cost of providing the service or product

3. We have done research & our price is market-related

4. We justify our price through value to our Customers - We are highly differentiated

5. We constantly have more demand than we can supply and therefore can set a price to suit our business

Think about your offer to the market, which of the following statements describes it best?*

1. It all depends on the customer and we customise it depending what the customer wants

2. Most of our employees has an understanding of what our offer is, but each person adapts it to suit their needs

3. We have a defined offer to the market and this has been shared company wide and implemented

4. We have a defined Marketing Department ensuring that our offer is communicated in a consistent and clear message, both internally & externally

5. We annually review our customers needs (external), our business purpose (internal) and ensure our offer is crafted to incorporate both

How do you track your various revenue streams?*

1. We use our bank account to determine how much sales we've made throughout the month

2. We use a manual Profit & Loss statement, but only have a 1 sales line item under revenue

3. We have split our revenue into our various sales categories and invoice appropriately

4. We have internal Accounting processes, an Accounting System that splits our revenue streams for periodical reports

5. We have a Sales Plan, in addition to our Accounting System & broken-down into various revenue streams that gets managed & reviewed periodically

Which of the following best describes the exclusivity of your business to your customers?*

1. Unsure

2. We offer a product/service that our customers can get from a wide range of suppliers

3. We offer a product/service that our customers can get from a small group of suppliers

4. We have a niche in our market

5. There is no one else offering what we do in our market

Financial Management

Which of the following best describes your Business Model?*

1. Not sure

2. Our net profit margin goes down with each new customer who buys from us

3. Our net profit margin stays about the same with each new customer who buys from us

4. Our net profit margin improves a little, the more customers buy

5. Our net profit margin improves a lot with each new customer who buys from us

When it comes to the management of your Financial Process, how would you describe your process?*

1. I haven't seen or heard from a bookkeeper or Accountant in while

2. We hand our receipts and allocations over to a 3rd party and they prepare financial statements for us annually

3. We do all allocations internally and have an independent 3rd party to finalise our Financial Statements.

4. Our business shares and internally reviews Management Accounts monthly with all Financial Statements being up-to-date and review/audit externally

5. We have a defined forecast on our internal accounting system that we compare to our actuals monthly, as part of our monthly Financial reviews

Consider your current cash requirements, would you say…*

1. We constantly need more cash and are currently using a loan, grant or overdraft to keep the business operational

2. We have periods where we use an overdraft facility or loans, or other forms of cash inputs, so as to keep the business operational

3. We make enough cash to keep the business operational

4. We make more cash than we need operationally and can manage liabilities

5. We are able to fund expansions, pay dividends bonuses regularly

How well do you (as the owner/executive) of the business, understand your financial statements?*

1. I don’t know how to interpret my financial statements

2. I can understand the basics of a Profit & Loss statement, i.e. income and expense, but leave the rest to my accountant

3. I understand the basics of my Profit & Loss statement and my balance sheet

4. I understand my Profit & Loss statement and my balance sheet. I also understand how the data is compiled

5. My financials are tracked through financial reports, ratios, margins, and the variances from my forecast and planning

Processes

If your business had to grow by 5 times over the next 3 - 6 months, how easy would it be to deliver to the new volume?*

1. Unsure

2. Impossible

3. Difficult

4. Fairly Easy

5. Very Easy

Think about how you take on a new employee, how easy is it for that employee to start working productively?*

1. Not easy as I will need to spend time training the new employee

2. A new employee can learn as they go

3. We have processes that we share with new employees

4. We have policies that all new employees can read that share processes and how they interact

5. We have a full-fledged training / induction program that all new employees complete before they start working.

How does your business ensure standardisation and high quality deliverables?*

1. Our customers constant re-affirm our procedures & performances i.e. we constantly customise and/or adapt, so as to suit the Customer

2. My team are skilled and trained and we rely on them to ensure the best possible deliverable to our customer

3. We have a set of operating procedures that ensure consistency and standardisation

4. Our procedures have clear outcomes that are tracked by management and leadership within our business

5. We share outcomes of our procedures with our clients and validate the results constantly

Organisational Structure

How would you describe your relationship with your customers?*

1. I know each of my customers personally and they contact me directly to do business with my company

2. I know most of my customers and they prefer to deal with me directly

3. I know most of my customers, but they are happy to deal with my team

4. I deal with some of my customers, but most of my customers deal with my team

5. I don’t deal with any of my customers and leave it completely up to my team

How would you describe your management team?*

1. We don't have one

2. We have a couple of senior people who act as informal leaders, but their leadership roles are not clearly defined

3. We have managers in charge of sales/marketing and producing our services/products

4. We have a management team in place, and they have a compensation package that provides a long-term financial incentive to stay with our company (i.e., more than an annual bonus)

5. We have clear distinctions between Shareholder, Directors, Managers, and Employees

How reliant are you on your team?*

1. I don’t know

2. If we lose anyone on our team my business would really struggle

3. We'd struggle, but I can replace staff with relative ease

4. My team can cover most of the positions if needed, while we replace any vacant positions

5. All my staff and position in my company can be replaced due to a clear job requirement and succession planning

When reviewing your staff's performance, do you do the following?*

1. My team has informal conversations to clear out any performance issues

2. We run an annual staff survey to address any issues the staff may have

3. We have a periodically scheduled individual appraisal, where managers share staff performance results

4. The business schedules periodic performances appraisals both staff and management share performance-related results and career growth guidance

5. My business periodically runs a staff differentiation process and uses this information to assess strategy rewards and salary adjustments

Sellability

How would you define your industry?*

1. Unsure

2. In decline

3. Growing at the rate of the economy

4. Growing faster than the economy

5. Growing a lot faster than the economy

Do you know what your Business value is?*

1. Unsure

2. I never want to sell my business

3. I have an idea of what I want, but can't justify it

4. I have never had my business valued, but I feel like I could justify its value

5. I have had my business valued and understand how it's defined

Thinking about your business, how do you see yourself exiting and what becomes of your business then?*

1. I haven't considered exiting my business

2. My business won't survive once I exit

3. I'm happy to earn an income from my business and close it when I decide to stop working

4. I want to build a legacy that I can handover to my children/ management team

5. I want to build a business that will flourish without me