Evaluation is an important process that should be performed as part of every business venture. There are two phases of evaluation: the feasibility study and assessment process, and the review and adapt phase. Acuro can assist with both.
Feasibility study and assessment process
The purpose of the first phase is to determine the viability of the business idea (whether it be a product, campaign or entire business concept). The important question that needs to be answered is: will the concept find a market and generate the income required to cover operating costs? Acuro’s feasibility study and assessment process enables us to conduct valuable research and reveal whether your idea is profitable and sustainable, before you invest considerable resources into the venture.
Review and adapt
The second phase of evaluation is equally important and pertains to the success of the business strategy, program or activity, after the fact. This phase reveals what effect the venture has had on the market and also general business operations. Here, we determine whether you have invested your resources in the most effective way. It is important to complete this phase of evaluation in order to gain an understanding of what worked well and what can be improved on for the future.
We believe that regularly checking on the health of your business is a key component of staying on track and achieving both your short and long term business goals. The team at Acuro are skilled and experienced at researching, consulting and reviewing businesses and their programs to ascertain whether they are hitting the mark, and what can be done to improve their performance, if they’re not.
For useful advice and assistance with evaluation, contact Acuro today.