These are the kinds of questions we frequently ask our client Leadership Team, because the answers will help you profit:

CEO QUESTIONS

1. How much of your time is spent working on the business versus in the business?
2. What are the major issues and challenges the business is facing?
3. What do you feel is the company’s mission and purpose?
4. Who in the company, other than yourself, knows all of the key measures that you use to run the business?
5. What do you want the business to be like in three years?
6. If you could clone yourself, what big projects would you tackle?
7. What three things would you wish for the business?
8. Does the company effectively think about, plan, and execute against its future?
9. Is your competition becoming more aggressive?
10. Do you need to develop new products and services?
11. Is the leadership team aligned and working effectively?
12. Which departments have the biggest opportunities before them?
13. How do you develop, test, and evaluate your alternatives?
14. How would you describe the company’s culture?
15. What else do you believe is important that we understand about the business?

MARKETING & SALES QUESTIONS

1. How can we improve the number of high-profit sales?
2. Do you understand your customer’s business model?
3. Are your company’s vision, mission, and goals compatible with those of your customers?
4. What business are you really in, (not what products do you make)?
5. What are the company’s best strategies for securing new customers?
6. What are your early indicators of a sales shortfall for the month, quarter?
7. What problems do your competitors and customers know you have?
8. Why do our customers buy from us rather than our competition?
9. Do you have a process to research and explore new market opportunities?
10. If we have an innovative product idea will management support it?
11. What aspects in serving your customers need to be improved upon?
12. How often do you streamline your product line and get rid of the dogs and cats?

FINANCIAL QUESTIONS

1. Are monthly financial statements prepared?
2. Are you happy with the accuracy of the statements and cost system?
3. How many working days does it take to have the statements prepared?
4. What would you like to see improved regarding the statements?
5. Are you pleased with the condition of your Balance Sheet?
6. Have you reduced the Cash Conversion Cycle over the last year?
7. What is the trend with regard to your inventory levels?
8. What is the trend in your A/R DSO?
9. Are you projecting Cash Flow monthly and quarterly?