What is a Business Health Check?

Just as individuals undergo regular physical health checks to assess their well-being and identify areas for improvement, businesses and organizations can benefit from a periodic “Business Health Check.” These assessments play a crucial role in determining the organization’s current status, identifying strengths and weaknesses, and uncovering opportunities for growth and development. A Business Health Check will provide business leaders with valuable insights into the company’s current state, performance, and areas where intervention is necessary for immediate and future success. Understanding this data will lead to a practical action plan that will be developed for the business.

Why should I participate in a Business Health Check?

Uncover trouble spots and discover successful elements in your business.

Identify Key Economic Indicators for your business.

Systematic and regular reviews of your business’s financial statements. 

Leads to long-term health and wellness for the business and the business owner.

Allows business owners not to be victims of the “I will do it alone syndrome.”

Should lead to increased profitability and future development opportunities for your business.

Participating will provide business owners/leaders with a safe and confidential environment to discuss business issues, ideas, and plans.

2 people talking at a desk

Components of a Business Health Check

  • Business Analysis of Financial Performance

  • Operational Efficiency

  • Customer/Client Engagement

  • Marketing & Branding

  • Management Assessment

  • Effective Business Planning

  • Risk Assessment

  • Innovation and Adaptability

  • Future Business Considerations

  • Wellness of Business Owner & Leadership Team

  • Adaptation to New Technology


The following resources and business tools will be utilized throughout the Business Health Check program. They are professional business development resources to which the Innovation Connector subscribes to assist business clients.  These resources are included in the client program fees.

ProjectionHub helps entrepreneurs create financial projections for potential lenders and internal planning.  For existing businesses, the historical financial information will be entered into one of the projection templates as a baseline.  Once a baseline has been established, different assumptions can be created for different business scenarios.  For example, what would be the financial impact for a business to hire another employee, what would it look like for a business to expand its capacity to serve additional customers, or what would be the impact on cash flow if the business bought in bulk and increased to increase gross profit margins, etc.

The GrowthWheel is designed around the observation that all businesses – in all industries and life stages – have four lasting challenges in common: They must create an attractive Business Concept, build a strong Organization behind it, develop lasting Client Relations, and do so while maintaining profitable Operations. GrowthWheel breaks down the 4 challenges into 20 Focus Areas. This gives a 360° view of business decisions and maps out what areas clients need to focus on.  The GrowthWheel framework is used to start structured conversations about a business and helps the entrepreneur identify the company’s opportunities and challenges. Using the framework, a business owner can avoid blind spots and identify the most important focus areas impacting business. The GrowthWheel wheel model serves as the main checklist for what steps to take next.

Business Model Canvas (BMC) is a strategic management tool used by entrepreneurs and business managers to visualize, analyze, and iterate upon the key components of a business model. It was developed by Alexander Osterwalder and Yves Pigneur and first introduced in their book “Business Model Generation.” The BMC consists of nine building blocks representing a business’s key aspects. To use the Business Model Canvas effectively, a team typically gathers to brainstorm and fill in each building block with relevant information. It encourages collaboration, discussion, and strategic thinking, enabling stakeholders to understand the business model holistically and identify areas for improvement or innovation. Additionally, the BMC can be continuously updated and adapted as the business evolves or responds to market changes. Overall, it serves as a concise and visual tool for designing, analyzing, and communicating business models.

Fee Structure

Initial Client Business Discovery Session: $599

  • Prior to the initial in-person consultation:
    • Confidentiality agreements signed by both parties – coach & client
    • In-depth professional review of financial documents via ProjectionHub
    • Baseline projection template will be completed
    • External review of client’s website and social media
    • Entry into the GrowthWheel portal
    • Other reviews as needed
  • Initial in-personal consultation: 90-minutes
    • Review of the Business Health Check program, including expectations of both parties
    • Identify what short-term and long-term success will look like
    • Discovery review of ProjectionHub results and development of baseline projections
    • Overall business health condition discovery utilizing the GrowthWheel assessment tools and resources
    • Determine next steps
  • Post initial in-person meeting:
    • Coach will review all meeting documents
    • Coach will re-evaluate ProjectionHub entries and correct any gained information or misinformation
    • Coach will complete the GrowthWheel assessment and prepare a “current status report” for the client
    • All relevant documents and information will be made available to the client

Follow-up Sessions – minimum 60-minute In-Person Meeting: $149 per session

  • Coach and Client to de-brief since the initial consultation
  • Review of progress toward success goals
  • Coach will follow up with additional information and data to assist the client
  • Coach and client will determine areas of greatest priority for business success
  • The GrowthWheel tools will be utilized to assist clients through this process
  • Outline work to be undertaken by the client and coach
  • Determine next steps – next consultation

Payments can be made by:

  • Checks payable to Innovation Connector,
  • Credit or Debit Card for:
  • Cash