Business Health Check: There's No Time Like The Present

This blog post was originally published on April 17, 2020. It was updated on June 3, 2025.

Look at six vital signs to gauge how your company is faring

Just as people benefit from routine physicals to catch potential issues early, businesses also need regular check-ups to stay strong and resilient.

When we originally published this blog in 2020, companies were facing an urgent and uncertain future brought on by the pandemic. Cash flow, operational continuity, and rapid pivots were top of mind.

Today, the landscape has shifted — but the pressure hasn't let up. Businesses now face persistent inflation, labor market constraints, disruptive technologies like AI, and the rising cost of capital. It's a different kind of stress test, but one that still calls for a close look at your company's vital signs.

Is your revenue model holding steady? Are costs creeping up in hidden places? Is your tech stack supporting growth — or holding you back?

A proactive business health check can help you catch emerging issues early, adapt strategically and stay ahead of what's next.

1. Can your cash flow keep up?

A clear understanding of your business's cash position has always been important — but it's especially critical now. With interest rates still high and banks tightening lending standards, it's more expensive to borrow and harder to access credit.

If you're relying on short-term financing to cover gaps, now's the time to get ahead of potential shortfalls. Even strong businesses can face cash crunches when capital is tight and costs are rising. Consider taking steps to:

• Look closely at your income and expenses to identify any weak spots
• Build up cash reserves, if possible, to give yourself breathing room
• Review existing debt and explore options to reduce or refinance
• Plan ahead for future needs so you're not caught off guard

Staying proactive with cash flow can help you stay resilient, even in the face of changing market conditions.

2. Is your revenue stream steady?

You may have started the year with solid revenue goals, but changing conditions call for a closer look. Now's the time to review what's selling, what's not and where there may be untapped opportunities. Could pricing updates, new offerings or improved customer experience help boost sales? Evaluating your revenue strategy may help you stay competitive as the market shifts.

3. Are your costs in check?

Inflation has slowed, but prices are still higher than they used to be — especially for labor and certain materials. New U.S. tariffs on a range of imported goods are also starting to drive up costs for some businesses.

If your business relies on imported supplies, raw materials, or equipment, now is the time to review how these changes might affect your bottom line.

Consider:

• Reviewing your vendor contracts and pricing
• Exploring different suppliers or sourcing options
• Finding ways to improve efficiency to help absorb rising costs

4. Is your tech stack helping — or holding you back?

Your technology should support your business goals — not create bottlenecks. If you're relying on outdated systems, manual processes, or disconnected data sources, it may be time for an upgrade.

Today's tools — including AI-powered platforms — can offer faster insights, automate routine tasks, and help teams work more efficiently. Evaluate whether your current tools are giving you the visibility, automation, and integration you need. Are you able to easily access and analyze real-time data? Are your systems supporting collaboration across departments? Can you scale your tech as your business grows?

Investing in a strong, flexible tech stack may support better decision-making, streamline operations, and create a foundation for innovation.

5. Is your supply chain still reliable?

While supply chain conditions have improved since the height of the pandemic, new risks are emerging. Rising tariffs, global tensions, and shipping delays are making many businesses rethink their sourcing strategies.

Even if things seem stable now, it's worth asking:

• Do you rely too heavily on a single supplier or region?
• Do you have backups in place if prices rise or shipments are delayed?
• Have you reviewed your inventory levels and logistics plans?

Building in more flexibility — like diversifying vendors or keeping extra stock of critical items — can help you stay ahead of disruptions and avoid costly delays.

6. Are you managing today's biggest risks?

Right now, businesses face a growing list of risks — from cybersecurity threats and data privacy concerns to regulatory shifts, talent shortages, and reputational challenges.

Start by evaluating where your business is most vulnerable. Do you have adequate controls in place to prevent fraud or cyberattacks? Are you keeping up with evolving regulations in your industry? Do you have contingency plans for unexpected disruptions, like a supplier failure or leadership change?

Proactively identifying and mitigating risks can protect your bottom line and support long-term resilience — especially during periods of economic volatility and rapid change.

Don't stop with the checkup.

In a rapidly changing economic landscape, it's essential to regularly assess your business's health. By monitoring cash flow, revenue streams, rising costs, digital readiness, supply chain resilience and evolving risks, you can position your company to adapt and grow — even in uncertain times.

A checkup is just the beginning. Use what you learn to support better decision-making, adjust operations, and plan for what's ahead.

We know the landscape can feel overwhelming — that's why we help businesses not only assess where they stand but also prioritize what to tackle first.