The First Step in Transforming Your Business for Success
Today, businesses face a daunting landscape of ever-evolving conditions presenting new challenges. With the business failure rate reaching a 15-year high and 15% of Australian Businesses failing in the past 12 months, it might be time to check in with the health of your business.
It might look like a dark time for businesses, but there’s light at the end of the tunnel. By looking at the business strategically and taking steps to strengthen your position, you can make sure your business not only survives, but thrives. Using an assessment tool like the Vantage Resilience Index (VRI) is a fast way to tackle step one, pinpointing the strengths and weaknesses of your business.
What is the VRI Tool?
Developed by world-renowned experts in the fields of business growth and viability, the VRI is a free business resilience and viability assessment tool that benchmarks your business against 50 success factors. Once complete, it pinpoints business strengths and weaknesses and provides an incredibly accurate prediction of future performance and probability of success.
Vantage Performance developed the tool based on 20 years’ experience delivering turnarounds for large business such as major mining, engineering, retail and telecommunications companies as well as small and medium businesses. It now plays a key role in rapidly and accurately identifying key business areas of improvement.
“At some point you have to benchmark your business and be brave enough to say let’s get an honest view of where the business is and that becomes the base from which we can build,” says Jesse Todd, CEO at Informotion.
“Invariably the VRI helped us find some quick wins we could implement quickly to help the business with a focus on transparent financial reporting across critical processes and functions,” he explained.
Why Use the VRI Tool?
Since the VRI tool identifies business strengths and weaknesses, it works as a solid foundation for strategically improving performance and success. As your VRI score improves, so does your revenue, cash flow, profit and overall resilience.
“The VRI gave us our ‘where do we start and what do we focus on most businesses are constrained resources wise and you can’t do everything at once, so this helps you focus on the things that matter,” says Jesse. To learn more about Informotion’s experience with the VRI assessment and experience with Vantage Performance, you can read the full case study here or watch the video below.
What if My Business VRI Score is Poor?
The VRI assessment tool provides an overall score as well as a breakdown of factors that contribute to it. By pinpointing areas of your business that are strong and those that are weak, it gives you a strong starting point for methodically improving business performance and success. If you need assistance from an expert in business growth and viability, the team at Vantage Performance can help map out a plan and guide you through the process.
Get Your Free VRI Assessment
To complete a VRI assessment for your business, create an account using your Google or LinkedIn account below.