Pre-op for Your Business

By Jeff Bowman

I am off to my Doctor this morning for a medical pre-op prior to some minor ankle surgery in a few weeks.  I have all the forms, and the questionnaires to be filled out in duplicate by my Family Doctor prior to seeing the actual Surgeon in two weeks for another pre-op six days before surgery. This network of signatures and approvals is put in place to ensure that any chance of a problem occurring during surgery is minimized.

Biz doctorImagine if these multiple checks and balances were put in place prior for anyone opening a new business venture. Granted we are all supposed to do our homework, and banks usually ask a few hard questions if they are part of the business loan or line of credit route, but what about the smaller details?   I have worked with many business owners who have neglected small details in their businesses plans (if the plan even exists), such as a customer profile for their product or service, business insurance, written contracts, a strong competitive analysis or specific growth objectives.

The rate of bankruptcies and business closures is quite high.  Perhaps before we are granted a business permit and before we hang our shingle, a pre-op should be done on our prospective venture by an expert, a business surgeon so to speak -someone who can anticipate roadblocks and complications and make us fully aware of the risks involved, and what we can do to avoid them. We are fortunate in Ontario to have The Small Business Enterprise Centres in most urban areas.

This is where any prospective small business owner can go to get the clinical advice on their business health, from a group of professionals and best of all it’s free!  I wouldn’t go into surgery without a pre-examination, and I wouldn’t open a business without some pre-operative professional assistance.

Do you know your risk factors?

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2 Comments

Filed under Jeff Bowman, Managing

2 responses to “Pre-op for Your Business

  1. I would think Economic Risk would be the biggest right now.

  2. Hmmmm, just had a thought Jeff, sure they’re not covering their backsides in case something goes wrong??? Malpractice comes to mind, I guess one persons risk factor may be another’s dream come true.

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