Grow Assessment

Prior to Grow

What is needed at the time of the Grow?

• • Book a room with strong internet service and have clear instructions on how to access
  • Prior to the Assessment, make clear that the process will take around two hours – total time to complete will vary based on the client, however, you should plan a minimum of two hours.
  
  Business Clients:
  • Have an understanding of how they conduct their business

No additional documentation or “numbers” are needed for the Grow Assessment

What are the immediate results?

• • Overview
  • Executive Summary
  • Enterprise Value (Line Chart)
  • CoreValue Rating (Graph)
  • Operational Transparency (Bar Chart)
  • Red Flags (Detailed List)
  • Value Gap Analysis (Pie Chart)
  • Suggested Tasks (Detailed List)
  • Detail by Driver (Detailed List w/Bar Chart)

Recommendations:

• Review a Grow Assessment before meeting with your client for a technical How-to as well as quick refresher on the process and best practices.
• Schedule a one-hour meeting with Support to go through the Grow Reports after the event.
• As each Grow is distinctively unique, there are no additional training videos outside of one-on-one support.
  
  

Click here for our Grow Checklist of questions.

Starting Grow

Run the assessment

Grow is where the true engagement process takes place. This is where you and the business owner decide to move forward and really take things to the next level. This step is going to require help from outside sources, as no one can do this alone. Let the Grow Assessment be your guide and offer valuable insights into what is working and what is not.

Note: Discover MUST be completed before beginning Protect.

Any time after Discover, the Grow Assessment can be conducted with a Client. It is recommended you conduct the assessment WITH the client.

For more on what information is needed and how it is used, visit: What is Needed Prior to Start a Grow Assessment?

• Fill out and/or select the correct answers with your client and click “Next”. Repeat for each of Protect questions.
  • There are 78 questions in total, with 3-8 questions per Value Driver
  • There is a “tracking bar” in the top right that will record your progress as you proceed.
• At the end of the questions, you will reach the “Protect Assessment Complete!” page. Click “View Report” or “Done”

Results of Grow

Understand the report from the assessment

Before you begin, you'll want to be sure you understand the business owner's goals and objectives - for the business, for themselves, and for their family. As the advisor, you'll want to have an understanding of how the owner likes to work, where the business owner wants to take the business, and the time frame available to the owner to accomplish his/her goals. This knowledge, combined with the Grow results, should serve as the basis for any plan you develop.

The Grow Report Video

Here are some suggested approaches:

Focus on the Lowest Scores/Drivers:

This approach works well for some owners who, after looking at their assessment results, choose to focus on the tasks relating to the lowest rated area(s) of the business. Generally, these owners do not have an urgent need to sell at maximum value but are looking for long-term sustainable growth.  So, for example, if ‘Sales and Marketing’ is rated lower than all other drivers, you may direct the owner to dig back into their workbook and finish scoring that driver's indicators. With the additional data in the mix, the Executable Growth Plan generates specific, tactical steps you can implement with your clients. Then, move on to the next lowest-rated area of the business.

Go for the ‘Biggest Bang for the Buck’:

Sometimes an owner's objectives may not be fully defined, or are somewhat in flux based on his or her experience running through Grow. In this case, you'll want to focus on the tasks that will give them the biggest 'bang for the buck' (the suggested task list can be sorted to show the highest ROI tasks first). This approach is also quite effective if the owner is under pressure to make improvements quickly. Bang for the Buck simply means that in exchange for the amount of the value gap you will close, implementing the suggested task will be relatively straightforward, will not disrupt the overall operations of the company, and will likely have little to no additional cost associated with it. 

Close the Value Gap:

Another approach may be to analyze the task list to determine what area(s) of the business make up the largest portion(s) of the value gap and tackle those first.  Sorting the suggested task list by value gap will prioritize tasks in this manner. 

Tackle one Driver at a Time:

Some advisors may suggest a focus on a specific driver(s) based on the skill sets and resources inside the company and/or their own firm. Consider the example of a CPA firm; the Financial Driver is clearly within their wheelhouse. It may make sense to start with the tasks and Q&A associated with financial reporting first. That way, the advisor can be certain that the numbers are being correctly generated, recorded, documented and reviewed.

See a sample Grow report here.