Discover Assessment
Deliver immediate value through an accurate enterprise value, potential value, and the drivers that will close the gap.
HOW TO USE DISCOVER
Prior to Discover
What to do before you run the assessment
Starting Discover
Learn how to run the assessment
Results of Discover
Understand the report from the assessment
THE VALUE OF THE DISCOVER ASSESSMENT
Discover Brings Immediate Value to Your Prospects & Clients:
When you introduce the 18 Value Driver Framework, your prospects and clients learn a new way of looking at their business and a new way to approach their difficulties. They may say: “I already know this part of business is weak.” But do they know how much it is costing them? Do they know what caused the problem, let alone how to fix it? Do they know the depth and details of the problem? And when they say an area of their business is strong, how, exactly, do they quantify that strength? Do they have the information and data to back up their claim? By breaking down their operations into manageable pieces, they can begin to see a road map to closing their Value Gap.
What is Discover?
Based on a rigorous set of private business standards, first developed at MIT, the Discover Assessment uses an informal survey format to gain valuable insights into a business using a framework of 18 Value Drivers.
Discover can be completed in as little as 15 minutes.
A business owners taking the Discover Assessment (and an Advisor facilitating the process) are not required to prepare anything beyond knowledge of how the business runs day-to-day. Using Discover helps you deliver immediate value by generating a report which includes the company's operational health and value, its potential value, the top three growth opportunities within the company, and highlights any significant risk conditions the business may have. The areas identified are opportunities for you to deliver your products and services to the client.
Even more benefits to using Discover
Read below for some quick tips from the assesment
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Discover Gathers Data:
One Discover helps one client. Multiple Discovers helps your practice. With each completed Assessment, you are gathering information about the community you serve. Discover data can reveal patterns and trends indicating where your business community is having difficulty. Using this data, you can leverage your expertise and resources relative to the needs you’ve uncovered. Focus your message and community outreach. Let them know you are aware of their difficulties and that you have the resources to help them.
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Discover Creates Opportunities:
Discover highlights opportunities to improve areas of potential risk and makes a client’s company more sustainable and valuable. But it is the process that can be most rewarding. During the Discover Assessment you may find the client lacks knowledge around one of the Value Drivers, or how that Driver relates to their business. Not only does this speak to how they run their business, it also provides an opportunity for you to present your services at the exact time when they realize they need this help.
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Discover Gives You a Reliable Common Framework:
Consider the impact of having all your prospects and clients measured using the same metrics. With little modification to your existing intake process, you can have a standard for how prospect/client businesses are measured, the results of those measurements, and how they compare to each other within the industry and across a host of like-businesses.
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Discover Approaches Your Client Holistically:
When a potential client approaches you with a specific problem, you know from experience that it’s likely systemic. For example: If a client comes to you with a “Hair-on-Fire” emergency, your experience tells you that it’s probably not the only issue. The “fire” started somewhere, and it is probably burning something else. Addressing their specific problem is important to (a) help the client and (b) help you establish rapport with the client. Assess their primary issue and go through Discover. Once you address the client’s emergency, you will be able to return to the report and help them in other areas. You will have better long-term results with your clients because your initial interaction is designed to look at the client holistically. And, the knowledge you gain from doing this will assist when helping other clients facing similar issues.
Prior to Discover
Before you start the Assessment
Before you run a Discover Assessment, make sure you are comfortable with the questions that will be asked. You should even run a Discover Assessment on your own business to really dig deeper into what it will be like for the owner.
Discover Meeting Prep
Attached is a checklist of our Discover Meeting Preparation. Review these items before the meeting with your client. Make sure you have the ability to answer questions about NAICS Industry Codes, profits according to EBITDA, the 18 Drivers, and can read the Discover Report.
Discover Meeting Prep
Click here for a document on preparing to run the assessment and what's needed.
Starting to Discover
Beginning the Assessment
Discover can be completed on-the-fly with a Client or Prospect, or certain fields can be pre-populated before sitting down with the Business Owner. We recommend that you run the assessment together so the advisor can best understand exactly what the business owner is thinking while answering the Discover questions.
Discover Meeting Prep
Starting Discover Video:
Results of Discover
Report of the Assessment
Once your Client/Prospect has completed Discover, the Report will automatically be generated.
Discover Results
Click here for a document to help you prepare or review for the Discover Assessment Report.
After Discover, you run the Protect Assessment
Click here to learn more about next steps
Protect is the assessment that helps reduce risk.
Go run the Discover Assessment today...
Whether you run the assessment on a friend, neighbor, or your own business, the more you use this effective tool the more you will bring value to the businesses you touch.