Quick note before we start: This is an educational toolkit and is not a fun-filled personality type quiz. It is an analysis of the sustainability and longevity of your business. Existing clients have told us that we are not as serious in the way we deal with them but are easy to talk to and approachable in real life. However, the majority of our clients are now established and growing, and we can relax with them and enjoy their journey to freedom. We may be serious about business but are human too. In this quiz there are no 'right or wrong' answers. So please pick the answer that relates to you the most right now. Ready? Press the "NEXT" button on the bottom right to continue to the first question... T1 Low<p>Use technology to speed up processing, use a great accountant who will “see” more from the numbers compared to someone less experienced and use the “real time” information that is available from a cloud accounting system.</p> T1 Medium<p>Your record keeping is obviously not causing you too much of an issue but could always be improved perhaps by some specific healthchecks to assess risks.</p> <p>Also, there is a need to step up from great books to great management accounts to give you truly reliable decision-making data and to cope with Making Tax Digital (MTD).</p> T1 High<p>Awesome well done. Your books are up to date, reliable and help you make brilliant far-reaching decisions allowing you to think about the future rather than the past.</p> T2 Low<p>It sounds like you are so busy working in your business to have time to get some fundamentals in place in case things go wrong.</p> <p>Accidents happen and recessions cause businesses to fail. You need to take time out to look at how you can protect your family and yourself.</p> T2 Medium<p>You have made some basic progress in safeguarding your family but there are still important steps to take to make your future more secure.</p> T2 high<p>Brilliant you have taken positive steps to safeguard your family and business.</p> <p>If you are still a little concerned that you could be doing more why not book a review with one of our team.</p> T3 Low<p>It appears that you have a few cash issues which unless you get them under control could seriously shorten the lifespan of your business.</p> <p>Your ability to borrow is likely to be hampered by a poor credit score and the stress of forever juggling who to pay and when must be causing you sleepless nights.</p> <p>Unless you get a handle on the situation your business is vulnerable to failure.</p> T3 Medium<p>It appears that you have good times and bad times, and it is very frustrating for you.</p> <p>You have the opportunity to put your cashflow on a stronger footing but it will require careful planning and being prudent in your control of expenditure.</p> T3 High<p>Looking good and certainly in the top 5% of businesses with positive cash control.</p> <p>Do you have any concerns over your cash strategies?</p> <p>Would you prefer to save more or do you have longer term worries?</p> T4 Low<p>You appear to be at the mercy of your customers rather than in control of your own destiny.</p> <p>You are vulnerable to the pressure they can put on you to keep your prices low which in turn prevents you from expanding.</p> <p>You must be brave and decide that you are great at what you do and you should only work with those who appreciate you and are willing to pay the right price for your outstanding service.</p> T4 Medium<p>It appears that you are having some success in growing your business but are showing signs of frustration perhaps because you feel that profitability is still struggling.</p> <p>You probably still have customers who don’t appreciate you and you really should sack them to focus on those who bring you the greatest rewards.</p> T4 high<p>Excellent results so you must be experiencing consistent growth and good profits.</p> <p>Do you have any concerns about maintaining this growth?</p> <p>Do you have concerns about losing control if you grow too rapidly?</p> T5 low<p>You have your head down and just work and work seldom looking up to see where you are going.</p> <p>You are vulnerable to changes in your industry at which point you may look up and say “what just happened?”</p> <p>All businesses change over time and unless you are watching what is going on around you, you may not have a business in the future.</p> <p>Businesses which have longevity are future focused and have often made changes to their business model during their lifetime to ensure they are still successful in every new age.</p> T5 medium<p>You are aware of the importance of having a vision and setting shorter term goals to keep yourself on track, but you are not doing this consistently or regularly enough which means you are frustrated by how slow you are moving towards your vision.</p> <p>It would not take too much for you to bring your vision back to life and to create some short and medium term targets which will help motivate yourself and your team.</p> T5 high<p>Well done a great score. Are you getting close to your final goal?</p> <p>Can you almost see it, feel it? Or is it moving away again?</p> <p>Does your vision need a revisit? And what about your strategy?</p> <p>Vision may be your future but strategy is how you get there and your KPIs keep you on track.</p> T6 low<p>It appears that you are not yet ready to sell your business.</p> <p>Preparation is key to a successful sale or succession and you need at least three years to prepare your business for the transition.</p> <p>Lots to do creating processes and systems and reducing the dependency on you. At the moment your business is too vulnerable to achieve the results you want.</p> T6 medium<p>You have obviously made some progress but are still not ready to achieve a successful sale or succession transfer.</p> <p>We suspect there is some frustration in how long it is taking but it is still important to get everything organized otherwise you will not achieve the results you want.</p> T6 high<p>Well done, you are very close to achieving your goal.</p> <p>Perhaps you still have some concerns and need to make sure that everything is absolutely lined up so you can successfully move on to the next stage of your life. Freedom.</p> SourceHidden 2Hidden 3Email Header<p>Thank you for taking the time to complete the quiz.</p><p>Your individual report is compiled in the PDF attached.</p>Email Footer<p>Many thanks,</p><p>Wood & Disney Ltd<br /><a target="_blank" href="https://www.woodanddisney.co.uk/">woodanddisney.co.uk</a></p>Record KeepingAvailable values for Topic 1Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. The next 5 questions relate to your record keeping as an aid to better decision making. How can you as an ambitious entrepreneur build a better future for yourself and your family if you don’t have the best data upon which to base your decisions? Who keeps your books?*Self or Family MemberEmployed BookkeeperCertified self-employed bookkeeperFully qualified accountantThis question is part of section 1/6: “Better Decision Making”. This field is required.How are they recorded?*Don’t knowSpreadsheetsDesktop softwareCloud accounting softwareThis question is part of section 1/6: “Better Decision Making”. This field is required.How often do you review your management accounts?*Don’t do management accountsAnnually with my accountantQuarterlyMonthlyThis question is part of section 1/6: “Better Decision Making”. This field is required.If you had a tax enquiry would your records stand up to scrutiny?*No and I am worriedDon’t knowOk I supposeI am 100% happy with my record keepingThis question is part of section 1/6: “Better Decision Making”. This field is required.If your bank wanted management accounts how long would it take?*Depends on my accountantPerhaps 3 weeksAt least a weekInstantly from my systemThis question is part of section 1/6: “Better Decision Making”. This field is required.ProtectionAvailable values for Topic 2Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. The next 5 questions relate to keeping both your existing assets and future assets protected. Ambitious Entrepreneurs may be risk takers but still want to protect what they create. Are you protected? Are you concerned that your business assets are at risk from creditors?*Yes I have valuable assets I need to protectDon’t have enough to worry aboutDon’t have any assets in my businessAlready restructured my business to prevent creditors from getting them.This question is part of section 2/6: “Safeguarding your assets”. This field is required.Have you given any personal guarantees on company borrowing?*Not sureYes and it does worry meYes but very smallNo have always avoided it.This question is part of section 2/6: “Safeguarding your assets”. This field is required.Would your business survive if there was a flood, fire, pandemic or if you were incapacitated by an accident*Don't knowNo it is dependent on meMy team could cope for a short while but not for long without meYes I have a great team who would follow my written contingency planThis question is part of section 2/6: “Safeguarding your assets”. This field is required.What happens to your family if you are injured in an accident and unable to work?*Not thought about itI only have life insuranceI have some critical illness but probably not enough to pay the billsI have up to date critical illness and income protection coverThis question is part of section 2/6: “Safeguarding your assets”. This field is required.Do you have up to date Will and Powers of Attorney?*NoI think I have a will but it's over 10 years oldI have a recent will but not Powers of attorneyYes I have an up to date will and Powers of AttorneyThis question is part of section 2/6: “Safeguarding your assets”. This field is required.Cash RetentionAvailable values for Topic 3Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. The next 5 questions are about cash retention. Building a better future needs positive cashflow and cash in the bank. Do you want to do more than just survive an economic downturn but also be in a position to take advantage of opportunities having a war chest of cash gives you? Do you ever have problems paying your creditors on time?*Yes every monthOccasionally if I have a bad month for salesNo I can operate within my overdraftNo as I have sufficient cash saved to always meet my liabilitiesThis question is part of section 3/6: “Cash resilience”. This field is required.Do you know what your business credit score is?*Not sureIts not great and I only get very small credit limits from suppliersIt must be ok as I don’t seem to have problems getting creditMy business has a great credit score and I never have problems getting credit.This question is part of section 3/6: “Cash resilience”. This field is required.Has your accountant ever explained the importance of the Cash Conversion Cycle which is where you can monitor the number of days between when you buying your stock and eventually getting your money in from customers?*No never heard of itNot sure its relevant to me as I am never owed any money and I pay my creditors by monthly direct debitThat’s interesting and I would like to understand moreYes and we monitor it every month at our directors' meeting.This question is part of section 3/6: “Cash resilience”. This field is required.How many months of expenses do you hold in cash savings on top of your VAT and corporation tax savings?*None I need to sell every month to get cash inI only have my vat and tax savings in a separate account but nothing extra.I have one month of overheads saved in addition to my VAT and Tax savings accountsI have over three months of overheads in savings as well as my VAT and Tax savings.This question is part of section 3/6: “Cash resilience”. This field is required.Have your Balance Sheet reserves increased in value every year over the last five years?*NoDon't knowI have had good years and bad yearsYes it has definitely increased because I deliberately retain profit every yearThis question is part of section 3/6: “Cash resilience”. This field is required.GrowthAvailable values for Topic 4Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. The next 5 questions are about generating more profit, more success and ultimately more freedom. Ambitious entrepreneurs want more than a lifestyle business which generates a basic wage. Do you want to build a genuine business which can operate without you? Understanding your Breakeven point is critical because in a downturn you need to be able to react quickly to safeguard your business for the boom that follows. Do you know your breakeven point?*NoI'm not sure how to calculate itYes my accountant did it for me a few years agoYes we check it regularly and discuss changes and implications with our accountantThis question is part of section 4/6: “Greater profit”. This field is required.How often do you review your prices?*I haven’t increased my prices for a long time as my customers are very price sensitiveI review them once a yearI review them twice a yearI increase my prices regularly by small amounts to avoid losing my profit marginThis question is part of section 4/6: “Greater profit”. This field is required.Have you ever asked your employees for suggestions as to growing your business or cutting costs or improving efficiencies?*I have never asked themTheir suggestions have never worked in the pastThey don’t understand the business so cannot help meYes regularly and they have been really helpfulThis question is part of section 4/6: “Greater profit”. This field is required.You can make more profit and save time by sacking the bottom 20% of your least profitable customers. Do you know the actual profit or loss made on each individual customer?*I cannot afford to sack any customersI don’t know how to work out the profit per customerI am sure all of my customers are profitable but haven't double checked recentlyI have already done this exercise to eliminate unprofitable customersThis question is part of section 4/6: “Greater profit”. This field is required.In most industries the business which focuses on a niche rather than being a “jack of all trades” will be more successful and more profitable because customers see them as experts. Is there an element of your business which you could focus on as your niche?*No I need to deliver a wide range of salesThere are some elements of my sales which are quite niche but not enough to just focus on themI only have a small range of sales anywayI am already an expert in my field and only trade in my nicheThis question is part of section 4/6: “Greater profit”. This field is required.VisionAvailable values for Topic 5Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. The next 5 questions revolve around your future plans. Building a better future for yourself and your family does not happen by accident. Do you have a vision and plans to make that vision a reality? Have you written down your personal goals and are these visible to you as you work?*No I have never done thisI have some goals but they are not in writingI have written them down in the past but they are not up to dateYes they are in writing and on my deskThis question is part of section 5/6: “Passion, focus and accountability”. This field is required.Have you diagnosed your biggest challenge and have you designed a cohesive response with a target date to resolve?*No I don’t have timeI have too many challenges to pick just oneI am focused on one major challenge but I have not set a target dateI do this exercise regularlyThis question is part of section 5/6: “Passion, focus and accountability”. This field is required.Have you assessed your business’ strengths and weaknesses and written them down?*I have never thought about thisI tend to focus on our weaknesses but don’t write them downI have done this exercise in the past but not recentlyYes I have an up to date written assessment.This question is part of section 5/6: “Passion, focus and accountability”. This field is required.Have you looked outside your business to consider opportunities and threats?*No I’m too busy trying to run a businessYes I am a member of a trade body and read trade magazinesYes I read trade magazines and I also keep an eye on what my local competitors are doingYes I keep an eye on events both nationally and internationally as my next innovation and my next competitor could come from anywhere in the world.This question is part of section 5/6: “Passion, focus and accountability”. This field is required.Have you created written rolling plans for the next month, 3 months, 12 months and 5 years?*No my plans are constantly changing so no point in writing them downI have a vision of where I want to be in 10 years’ time but nothing on a shorter time scaleI have some short term plans but they haven’t been updated for a long timeYes I revisit my plans every single month to ensure I am on track to achieve my long term goalThis question is part of section 5/6: “Passion, focus and accountability”. This field is required.Succession or SaleAvailable values for Topic 6Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. The final 5 questions are about how you achieve freedom. Ambitious entrepreneurs want to build something they can sell or pass on to another. Are you preparing your business for that eventual sale or succession? How much time do you spend in your business?*I have to work 5 days per weekThe business needs me to work 3 or 4 days per week or it will sufferI choose to work 1 or 2 days per week usually on non essential tasksAd hoc usually on strategic matters onlyThis question is part of section 6/6: “Legacy and freedom”. This field is required.Have you created written or graphic processes for every aspect of your business?*NoDon't need to because processes are taught by the older team members to the younger team members.I have some written processes but not for everything we doYes my entire business is systematisedThis question is part of section 6/6: “Legacy and freedom”. This field is required.Are you upto date with all legal and regulatory requirements and obligations?*There may be a few skeletons in the pastI think soI am very careful to ensure that I talk to my accountant and solicitor if I think I have a problemYes because I regularly review this with both my accountant and solcitor to be 100% certainThis question is part of section 6/6: “Legacy and freedom”. This field is required.What is the sales mix of your business?*I have a very small number of large customers on whom I am dependentI am reliant on one off sales with little opportunity for repeat businessI have a large number of small customers who give me repeat businessI have a good spread of customers on long term contractsThis question is part of section 6/6: “Legacy and freedom”. This field is required.Describe your supply chain?*I am reliant on a single supplier for all of the goods I sellI have multiple suppliers but they are all from overseas and have significant lead times for deliveryI have multiple suppliers including from the UK so speed of delivery is excellentI have multiple alternative suppliers for the majority of the goods I sellThis question is part of section 6/6: “Legacy and freedom”. This field is required.Final Details*One final step before we email you through the PDF report…. You are almost there! Thank you for taking your valuable time to complete all of the questions but the result will be worthwhile. You will get a 12 page report which will include some quick recommendations on key areas of your business to improve but you will also get all of the questions and all of the answers with your own answers highlighted in orange. This will give you a complete DIY improvement plan. I am now going to ask you to provide us with your email address and I fully appreciate that this may concern you. However, there is only one automated follow-up to this quiz so you will not be bombarded with sales messages and we do not sell any data to third parties. That follow up email will offer you the opportunity to join our mailing list for business profit and growth advice tips but that is all.Your personalised report will be emailed to you along with relevant tips supporting your score. View our Privacy Policy * * This field is required.Identify the lowest topic numberDo not edit me. Showing the {N} lowest Key Areas of Improvement LOWEST(N) ~> LOWEST(2) HIGHEST(N) ~> HIGHEST(2) AND Check to is Total number of Highest / Lowest keys wanted to show on Appearance tab OR: use MIN / MAX and check to is Identify the lowest topic number on Appearance tab Topic 1 GapDo not edit me. Topic 2 GapDo not edit me.Topic 3 GapDo not edit me. Topic 4 GapDo not edit me.Topic 5 GapDo not edit me.Topic 6 GapDo not edit me.Topic 1 Yes Most ImportantDo not edit me Topic 2 Yes Most ImportantDo not edit me.Topic 3 Yes Most ImportantDo not edit me Topic 4 Yes Most ImportantDo not edit me.Topic 5 Yes Most ImportantDo not edit me.Topic 6 Yes Most ImportantDo not edit me.General Feedback text for Overall score of 0-33%<p>It appears you are struggling and vulnerable in most areas and could really use some help to strengthen the foundations of your business allowing it to transform into the business you really want it to be.</p>General Feedback text for Overall score of 34-66%<p>It appears you are doing ok in some areas but frustrated about your performance in other aspects of your business.</p><p>Asking for outside expertise is not a weakness and could make a massive difference to the resilience and longevity of your company.</p>General Feedback text for Overall score of 67-100%<p>It appears that you are doing really well in the majority of areas so well done.</p><p>However, you must have known this before taking this quiz so do you have concerns about the future of your business? About its ability to survive into the long term?</p><p>Have you hit a plateau and are struggling to grow further, or have you exploded with growth and are fearful of losing control?</p>Topic 1 Key Area of Improvement<p class="topic-title"><strong>Record Keeping</strong></p><p>Excellent record keeping is essential to provide you with reliable data to be able to make accurate and ultimately successful decisions.</p><p>You make multiple decisions every day and the better your decision-making process the greater the chance of long-term success.</p><p>This is an often-overlooked result of excellent bookkeeping because the focus has always been on recording history to ensure you pay the correct amount of tax. Tax is a by product of success, and you should not be afraid of it. </p><p>{Topic 1 Key Area of Improvement:1923/entry}{Topic 1 Key Area of Improvement:1924/entry}{Topic 1 Key Area of Improvement:1925/entry}</p>Topic 2 Key Area of Improvement<p class="topic-title"><strong>Protection</strong></p><p>Businesses by their nature are risk taking enterprises. Some deals make profit, but some make losses.</p><p>It is therefore important to protect your business assets as well as your personal ones. However, it may not be possible to vote yourself extra dividends to keep the balance sheet low because of the personal tax consequences plus this is a very short term viewpoint.</p><p>If you could ringfence cash and fixed assets so if something happens to your trading company, you could start again very quickly and easily would that be of interest?</p><p>{Topic 1 Key Area of Improvement:1926/entry}{Topic 1 Key Area of Improvement:1927/entry}{Topic 1 Key Area of Improvement:1928/entry}</p>Topic 3 Key Area of Improvement<p class="topic-title"><strong>Cash Retention</strong></p><p>They say Cash is King and it certainly is when the economy hits a bad patch but in periods of high inflation your cash is actually losing value as each month passes.</p><p>There is a balancing act between holding enough cash for survival and longevity and holding so much it is not working hard enough for you.</p><p>{Topic 1 Key Area of Improvement:1929/entry}{Topic 1 Key Area of Improvement:1930/entry}{Topic 1 Key Area of Improvement:1931/entry}</p>Topic 4 Key Area of Improvement<p class="topic-title"><strong>Growth</strong></p><p>Growth is a mathematical formula which is why accountants are very good at helping their clients achieve it.</p><p>Growth is essential if a business wishes to still be here long into the future. It brings greater profits leading to greater investment and a stronger more resilient company.</p><p>Advertising and marketing are merely tactics used to support growth but business owners get bombarded by snake oil salesmen promising amazing results in a matter of days from basic tactics rather than concentrating on strategy and the bigger picture.</p><p>{Topic 1 Key Area of Improvement:1932/entry}{Topic 1 Key Area of Improvement:1933/entry}{Topic 1 Key Area of Improvement:1934/entry}</p>Topic 5 Key Area of Improvement<p class="topic-title"><strong>Vision</strong></p><p>Very few people are truly creative. Most of us need a trigger to start the creative juices running.</p><p>Dyson was inspired to create his cyclone vacuum cleaner after visiting a sawmill and seeing how they extracted the sawdust.</p><p>Vision is where you are heading. What will your business look like when it is “done”.</p><p>However, vision alone is merely a dream. It must be made real by action.</p><p>{Topic 1 Key Area of Improvement:1935/entry}{Topic 1 Key Area of Improvement:1936/entry}{Topic 1 Key Area of Improvement:1937/entry}</p>Topic 6 Key Area of Improvement<p class="topic-title"><strong>Succession or Sale</strong></p><p>Selling a business is much tougher than many people imagine.</p><p>Even if you are successful, and the statistics indicate that only about 20% of businesses actual sell and those that do the price is often up to 40% less than the original valuation.</p><p>It is also very time consuming taking many months of due diligence and therefore the professional fees can be very high.</p><p>Succession is not always easier depending upon family dynamics (I mean arguments) or if you are passing the business on to existing team members there can be complexities when it comes to tax.</p><p>{Topic 1 Key Area of Improvement:1938/entry}{Topic 1 Key Area of Improvement:1939/entry}{Topic 1 Key Area of Improvement:1940/entry}</p>Call to [email protected]<p>If you are ready to Build a Better Future for you and your business, defy the norm of company failure and become a resilient and sustainable business into the long term… I invite you to book in a coffee with us to have a chat, get to know each other better, learn more about your goals for the future, explain more about what your scores today mean for you, and let you know how we might be able to best help you.</p><p>Email us at <strong><a href="mailto:info@wood-disney.com">info@wood-disney.com</a></strong> or call us right now on <strong>01206 233170</strong> to arrange a chat with us.</p>Topic 1 Detailed Text for 0-33%<p>d</p>Topic 1 Detailed Text for 34-66%<p>d</p>Topic 1 Detailed Text for 67-100%<p>d</p>Topic 2 Detailed Text for 0-33%Topic 2 Detailed Text for 34-66%Topic 2 Detailed Text for 67-100%Topic 3 Detailed Text for 0-33%<p>d</p>Topic 3 Detailed Text for 34-66%<p>d</p>Topic 3 Detailed Text for 67-100%<p>d</p>Topic 4 Detailed Text for 0-33%Topic 4 Detailed Text for 34-66%Topic 4 Detailed Text for 67-100%Topic 5 Detailed Text for 0-33%Topic 5 Detailed Text for 34-66%Topic 5 Detailed Text for 67-100%Topic 6 Detailed Text for 0-33%Topic 6 Detailed Text for 34-66%Topic 6 Detailed Text for 67-100%Topic 1 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic. Topic 2 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 3 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic. Topic 4 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 5 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 6 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.TestimonialsTestimonial 1<p><em>"Wood and Disney have been our accountants for a few years now. We moved to them because Peter Disney is innovative, supportive, helpful and informative. He runs an excellent team and always ensures that they are at the forefront of their industry, placing them in the very best position to advise and assist. Alongside their outstanding professional capabilities, they are also just genuinely lovely people and understand how to communicate very effectively. If you are looking for excellent accountants but are also after something 'more' from a company that truly understands how to do business, then I can heartily recommend them all round."</em></p><p>- KAT Marketing</p>Testimonial 2<p><em>"I’ve been trying to run our own business for 15 years now… if I had met the Wood and Disney team at the outset I have no doubt that our business would be years ahead of where it is currently! Since then there’s an awful lot more smiling going on when we head to the bank! Despite one of the toughest periods in our trading history during the lock-downs, Wood and Disney steadily steered the ship with positive and creative energy - qualities that don’t always spring to mind when we think accountants! </em></p><p><em>Wood and Disney’s holistic approach is really the genius, the secret sauce that makes them stand head and shoulders above other accountants. My only regret is that it took so long to find them…"</em></p><p>- Olly Pittman, JSC Group Interiors Ltd</p>Overall Total NumberAdd in ALL questions below. This will simply add up all questions and give a total number of points for all. Overall Current PercentageCreation note: Change "40" to the number of total points available in this quiz. E.g. Total of 6 questions is 4x6 = "24". Total of 8 questions is 4x8 = "32". etc All topics have 100% scored - MessageDont change Label Final score is LowDo not edit me. Final score is MediumDo not edit me. Final score is HighDo not edit me. Key Area(s) of Improvement Title