Here is a sample of the format of the Rate a Business Chart that we originally developed and the score of the first non-ideal manufacturing business and Resicert – which is an ideal business. Some very interesting results.
It became clear why the manufacturing business was unlikely to work for us and was simply not working for us when we were in it. With a score of 28%, it is pretty obvious.
With Resicert we were much more deliberate about building the Ideal business model and from the onset ensuring that it worked for us. So not only was the business more aligned to what we considered an ideal business but we stayed on track to ensure that all key criteria and requirements were met.
The minimum score that I would suggest is 80%. If you can reshape and change the business model of an existing business so that it scores higher then there is potential. This will not always be the case.
The only way we were able to develop this list was after the failure of the manufacturing business and the insights which we developed at that time. There was a lot of reflection about what had taken place, why and what would we be prepared to do in the future.
This is an excellent exercise to do yourself.
What would you include on your rate a business format? If you have had businesses before how would they score? A very simple insightful tool.