This step-by-step process makes business evaluation achievable using common tools and resources. Follow the timeline, track progress, and build a clear plan that works for you in under a month¹.
Kick off your evaluation by running a quick health check using reports from your accounting software. These will help you assess your performance across five core business areas.
Let’s understand what your numbers are telling you. Use the five ‘vital sign’ categories below to assess your financial health and flag early warning signs.
Now that you’ve reviewed your metrics, look for areas where small changes could drive big results. Quick wins help build momentum and free up resources for growth.
Now that you’ve identified potential opportunities, it’s time to prioritise. Use this simple framework to decide what to tackle first and what to skip.
Want a ready-to-go template? Download our full 90-Day Action Plan to map out your quick wins and growth priorities.⁸
Build a system that runs without you. Think of this as closing the loop: evaluation becomes part of how you run the business, not just a one-off task.
Dashboards give you visibility — now build a regular habit of acting on what you see. Use this structure to stay on track every month, plus plan deeper reviews every quarter.
Avoid common roadblocks by approaching evaluation with progress in mind:
References: ¹ Small business resources | CPA Australia, ² ATO small business performance benchmarks, ³ Nearly two thirds of Australian businesses survive on less than two months of cash reserves
⁴ This content is for informational purposes only and does not constitute financial advice. Please consult a qualified professional before making business decisions.
⁵ The metrics and thresholds provided are general guidelines. Industry benchmarks may vary.
⁶ This content is for informational purposes only and does not constitute financial advice. Please consult a qualified professional before making business decisions.
⁷ Metrics and benchmarks provided are general guidelines. Actual performance standards may vary by industry, business size and market conditions.
⁸ Templates and tools are provided for illustrative purposes. Use at your discretion and adapt to suit your business needs.
⁹ The reference to the Mastercard Easy Savings website is provided for informational purposes only. Offers, tools, and resources available through the site are subject to change and may be governed by separate terms and conditions. Mastercard does not guarantee the accuracy, availability, or suitability of third-party content or offers. Users should review all terms and consult with relevant professionals before making financial decisions.