Intent

Welcome to Intent! You’ll need to set aside around an hour to complete this diagnostic. Once you’ve started you’ll need to complete the assessment in one session – so you could look at what information we need on this first page so you have it to hand to start.

We’ll collect some data about your new business or developing idea first, before you start the assessment. Please answer questions as honestly as possible – from your own gut feel.

Once you’ve completed Intent, we’ll be notified you’ve finished, and we’ll then build your snapshot and email it over. You can then assess your strengths and where you need to build your capabilities going forward.

We recommend you return to Intent in six months time – as part of your strategic management of your organisation. Once you’ve established you business why not move on to Clarity and continue your journey with us.

Enjoy and good luck!

Marketing

Aim 1: Market Research

You need to know if there is a market for your product/service – who’d buy it? At what price can you sell at to compete and win business (which doesn’t necessarily mean you have to be cheap)?

Aim 2: Competition

You need to be aware of and analyse other businesses that provide similar or the same products/services as you. This is so that you can assure yourself that there is a gap in the market.

AIM 3: Understanding Customers

You need to be aware of and analyse current/potential customers (such as assessing demand for a new product/service and then requesting feedback on your product/service).

AIM 4: Market Techniques

You need to be aware of and analyse different promotional activities (social media, website, face-to-face, advertisements, etc) – as well as a way to reflect on how successful each is.

People

Aim 1: Skill Sets

The success of your business will rely on the skills of the people within it – you need to be aware of what skills you and other people involved in your business have currently and what skills will be needed, in the future.

Aim 2: Managing People

The success of your business will rely on creating and managing healthy and positive relationships with other people – you need to be aware of the skills you have or need to develop to get the best of out those around you, now and in the future.

Aim 3: Training & Development

Different training providers will offer different types of training, and it is important to make sure you access the most relevant and appropriate to your needs to avoid wasting time and resources – this does not always have to be formal learning programmes, but could include networking seminars.

Aim 4: Meeting business needs and unexpected demands (inc outsourcing)

It is unrealistic to expect that any new start-up will be able to meet all business needs, you need to consider what parts of the business might benefit from being ‘contracted out’ in the short term (i.e.; meeting excess demand for your service (freelancers/casuals) and in the short-mid-long term (i.e.; website development, book-keeping, etc) In both instances you will need to coordinate and manage the people you commission in producing the quality you desire in appropriate ways (including legal agreements where appropriate).

Operations

Aim 1: Business Planning

A clear business plan does not need to be a lengthy document, but something that allows you to demonstrate that you have considered all aspects of your business.

Aim 2: Performance Measurement

Success is more than the profitability of your business. What you measure and how you measure is important. You need to be aware of and analyse the performance of your organisation, which includes assessing the ‘how you do what you do’ – you might for example measure waste, process flow or other efficiencies to better manage costs or ensure compliance against specific regulations.

Aim 3: Innovation

To remain competitive, you need to be able to adapt and respond to changing customer expectations and market pressures. You should therefore be continually developing your organisation’s services/products, knowledge and skills to be able to best respond to such arising or changing market opportunities. However, any such developments should remain a good ‘fit’ with your current offer and skill sets of your business.

Aim 4: Contingency Planning

At some stage your business relies on other people or other businesses. Suppliers may fail to deliver materials or services when they are needed, or key people may be absent through illness, therefore it is important to have some back-up plans in place to ensure that the business can continue should such problems arise.

Finance

Aim 1: Income & Funding

Many businesses fail through not having sufficient funds to sustain themselves until sales reach profitable levels. It is therefore important to have identified a range of options that could support your enterprise to initially meet the costs of its planned activities and operations during its start-up and initial trading period.

Aim 2: Profitability

Costing goods and services is crucial to the success of your business – the price charged to customers has to not only cover the cost of materials and time involved with them, but also contribute to meeting core overheads such as office equipment, vehicles and fuel, and generate enough profit after that to meet your aspirations.

Aim 3: Financial Management

Within any business, remaining solvent (having cash to pay bills) is paramount, but having a cash balance may not mean you are making a profit (owing to factors such as outstanding loans). It is therefore important to produce regular financial information such as a cash-flow and profit and loss statements. This will allow you to better assure yourself of your enterprises’ solvency, as well as the extent of any additional finance that may be needed to support its future plans.

Aim 4: Financial Reporting

Depending on the legal status of your business, or any investment it has secured, there will be a range of other organisations requiring that reports based on your financial performance are able to be generated and submitted in a timely manner. Failure to be able to do so may mean difficulties in accessing further investment, or in sanctions being made against you by these investors or regulatory bodies such as HMRC. Having appropriate practices in place to manage its affairs is therefore vital – such practices may include the setting up of a separate business bank account (a legal requirement for incorporated companies, but optional for sole traders), or engaging a bookkeeper or accountant

Regulations

Aim 1: Legislation

All businesses have legislative obligations (e.g; Health & Safety legislation, Environmental legislation). Understanding what these are, and having appropriate systems in place to make sure that these are complied with can reduce avoidable disruption to your business and mitigate the risk of being fined for non-compliance. They can also increase profitability through reducing the risk of avoidable accidents, and reduced energy and transport costs.

Aim 2: Insurance

Any business has legal duties of care and needs to show due diligence, yet unforeseen events can occur beyond your control that could impact on your business’ ability to trade. Insurance policies, such as professional indemnity, public liability, etc, can be a useful way to not only protect the business but also satisfy potential investors and customers.

Aim 3: Data Protection

All businesses have obligations under the Data Protection Act to not only their staff, but also their customers. Understanding what these are, and having a system in place to make sure that these are complied with can reduce avoidable disruption to your business and mitigate the risk of being fined for non-compliance.

Aim 4: Employment Law

As your business grows you may choose to employ others, which will mean you have to follow legal obligations under various aspects of employment legislation. Understanding what these are, and having a system in place to make sure that these are complied with can reduce avoidable disruption to your business and mitigate the risk of being fined for non-compliance.

Responsibility & Local Impact

Aim 1: Morals

It is important to understand and be clear about your personal values and ethics, and how these will influence how your business operates. Putting in place strategies to make this work for you need consideration.

Aim 2: Community & Citizenship

All businesses will create an impact on their local community and environment. You can either allow these impacts to be ‘accidental’, or seek to manage them to better enhance your profile and success.

Aim 3: Reputation

Just as you will have ideas about how your business should operate to reflect your values and ethics, so others will as well – it is important to be aware of how to manage your business’ reputation amongst the local community, and your customers.

Aim 4: Social Value

Being able to identify and openly report on the ways in which your values and ethics are influencing your enterprise and the way it is creating social value for the wider local community and others can help to strengthen the enterprises’ credibility. Depending on customers’ interests, it can also act to strengthen relationships with them and support wider goals.