You may be thinking of selling the business, obtaining a loan, looking for investors or acquiring a business partner. The evaluation may be required as part of a marital settlement. Evaluating a business isn't an exact science by any means, but there are basic principles of business valuation a small-business owner can employ.
Learn the four main steps to developing an evaluation plan, from clarifying objectives and goals to setting up a timeline for evaluation activities. Why should you have an evaluation plan? When should you develop an evaluation plan?
What are the different types of stakeholders and what are their interests in your evaluation? How do you develop an evaluation plan? What sort of products should you expect to get out of the evaluation? What sort of standards should you follow?
After many late nights of hard work, more planning meetings than you care to remember, and many pots of coffee, your initiative has finally gotten off the ground.
You have every reason to be proud of yourself and you should probably take a bit of a breather to avoid burnout.
Don't rest on your laurels too long, though--your next step is to monitor the initiative's progress. If your initiative is working perfectly in every way, you deserve the satisfaction of knowing that.
If adjustments need to be made to guarantee your success, you want to know about them so you can jump right in there and keep your hard work from going to waste. And, in the worst case scenario, you'll want to know if it's an utter failure so you can figure out the best way to cut your losses.
For these reasons, evaluation is extremely important. There's so much information on evaluation out there that it's easy for community groups to fall into the trap of just buying an evaluation handbook and following it to the letter.
This might seem like the best way to go about it at first glance-- evaluation is a huge topic and it can be pretty intimidating. Unfortunately, if you resort to the "cookbook" approach to evaluation, you might find you end up collecting a lot of data that you analyze and then end up just filing it away, never to be seen or used again.
Instead, take a little time to think about what exactly you really want to know about the initiative. Your evaluation system should address simple questions that are important to your community, your staff, and last but never least!
Try to think about financial and practical considerations when asking yourself what sort of questions you want answered. The best way to insure that you have the most productive evaluation possible is to come up with an evaluation plan. Here are a few reasons why you should develop an evaluation plan: It guides you through each step of the process of evaluation It helps you decide what sort of information you and your stakeholders really need It keeps you from wasting time gathering information that isn't needed It helps you identify the best possible methods and strategies for getting the needed information It helps you come up with a reasonable and realistic timeline for evaluation Most importantly, it will help you improve your initiative!
As soon as possible! The best time to do this is before you implement the initiative. After that, you can do it anytime, but the earlier you develop it and begin to implement it, the better off your initiative will be, and the greater the outcomes will be at the end.
Remember, evaluation is more than just finding out if you did your job.Business-in-a-Box - Download Business Plan Templates & Forms NowSave Your Precious Time · 7M Users Worldwide · Professionally Formatted · Sold in Countries. A Multi-State Plan option is a high-quality plan offered on the Marketplace, under contract with OPM, the agency that administers health insurance for Federal employees.
OPM negotiates plan benefits, monitors plan performance, and oversees plan compliance with the Affordable Care Act, so you can be assured of consistent, quality coverage.
Use this extensive checklist to make sure you get answers to all your important questions before you purchase a business.
Business Evaluation Checklist Day Sales Plan Checklist. Developing an Evaluation Plan offers a sample evaluation plan provided by the U.S.
Department of Housing and Urban Development. Developing an Effective Evaluation Plan is a workbook provided by the CDC. In addition to ample information on designing an evaluation plan, this book also provides worksheets as a step-by-step guide.
costs, and management information for savings verification and decision-making. Because the SAV-AIR system is fairly high-tech and relatively expensive, their approach is primarily being adopted by customers with larger systems.
At a glance. Open. Provides businesses with access to experienced, independent Business Advisers in order to review the business and provide a Business Evaluation Action Plan with recommended strategies for business improvement or growth.