RATIONALE:
If you have no desire to take the business beyond where it is and are just in it for the short run, the five previous Steps are probably quite sufficient. But if you plan to "grow" your business and keep it for as long as possible, and then maybe sell it or pass it on to your heirs, then something more is needed. What is needed is for you to be able to assess the continually evolving strengths and weaknesses for your small business' internal operations as well as the threats and opportunities that constantly present themselves in the external environment. The final Step in Six Steps to Small Business Success was developed to do just that. The BUSINESS RENEWAL Step has to do with the continual assessment of and appropriate intervention in the business once it is up and running. Assuming that you have achieved at least some success in your business up to this point, BUSINESS RENEWAL will help you maintain and even build on that success.

SPECIFIC PRODUCTS: (29 pages)

1. The particular approach used in this BUSINESS RENEWAL Step is called the Small Business Organizational Analysis and Renewal System (SOARS). SOARS consists of three primary products and one control product.

   1. Descriptive Component:
      Describes the business using a comprehensive, interactive, and time-sensitive business model, which is presented and described in detail throughout the SOARS approach.

   2. Diagnosis Component:
      Analyses the interactive nature of the business using a series of short, medium, and long-run analytical questions that helps to identify different business elements that are not performing up to expectations.

   3. Prognosis Component: Determines what corrective steps can be taken to counter any negative conditions identified during the Diagnostic Component.

   4. SOARS Individual Problem/Project Work Sheet and SOARS Project/Problem Control System:
      This is a tracking system for the different activities that may be initiated as a result of the SOARS approach.

EXPECTED BENEFITS:

The Small Business Organizational Analysis and Renewal System has been designed to help business owners, managers, and consultants develop a comprehensive, dynamic perspective of the interactive nature of the business for both the internal and external dimensions. By understanding the nature of the model and then completing the diagnostic questions, a Small Business Diagnostic Summary can be developed which will provide a preliminary picture of the strengths and weaknesses of the business as well as the opportunities and threats within its environment. With this “organizational compass" in hand, detailed attention can be focused on those areas in most need of attention.

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