Once you have completed the Business Assessment Rating (BAR) you are one step closer to being purposeful about your business growth journey. Regardless of whether just you as a single user has completed the BAR, or your entire leadership team has submitted their feedback, there are many learnings to be gained from taking the time to do a thorough analysis of the results.
Fundamentally, the BAR has been designed to give you an objective, 360 degree view of your businesses strengths and weaknesses. This insight allows you to determine a plan of action to improve areas of your business that need work, while acknowledging areas of traditional strength. The beauty of the Dsrupt BAR is that is not only focuses on operational improvements around resources & productivity (which is where most other systems solely look at), but instead provides an holistic view that also encompasses the momentum & motivation of the business owners, the supply & demand of the market in which you operate, and the commercialisation of your products/services.
So, you’ve completed the BAR, what next…?
There are several aspects to analysing the BAR results that we will go through below, but there are a few tips that we recommend following to get the most out of the experience:
- Don’t rush it – Like most things, the more time you put into it, the more you will get out of it. We would recommend an initial one hour session with your team to review the high level results, then a dedicated 1 – 2 session each week for four weeks that looks at each quarter of the BAR in turn (Ownership, Market, Offer, Operations).
- Be honest – The purpose of the exercise is to get an objective view of the business. Hopefully you were honest when answering the questions, so take the same approach to analysing the results.
- Analyse together – One of the main benefits of working through the BAR analysis as a group is that the team go through the journey together, so there is shared understanding of the growth potential of the business and the rationale behind the actions to be implemented that get decided as part of the process. It can be useful to include any external advisers (Board members, mentors, business advisers etc.) in the process as well.
Session 1 – Initial Overview
On the landing page of the Review section of Dsrupt, you will find the overview of your BAR results that looks something like this:
Get the BAR results summary on the screen in front of you (or print it out), and work through the following agenda:
1. As a group, spend around 15 minutes discussing each of the these questions
- How do we all feel about the overall score and is it a fair reflection of the business’ current performance/value?
- How do we feel about the relative size of each of the quarters?
- What are the business’ greatest strengths?
- What are the business’ greatest weaknesses?
2. Make notes on any outcomes and decisions determined in the discussion
3. Schedule the deep dive session for the first quarter, Ownership
Sessions 2 to 5 – Deep Dive for Each Quarter
Let’s start with the Ownership quarter.
Get the BAR results for the Ownership section on the screen in front of you (or print it out). It should look something like this:
The Ownership quarter is made up of four wedges; Purpose, Desire, Objectivity & Drive
Review each wedge in turn using the following approach:
1. Review the score for the wedge and discuss how you feel about that score and whether it is a fair reflection of the current business. If there is room for improvement, discuss what actions you could undertake for improvement. We have suggested some strategies for improvement for every wedge below the detailed answers bar graph e.g.
2. Look at the “Your answers in detail” bar graph, and work through each question for the current wedge using the following approach:
- Is the average score for the question low? – discuss what actions you could undertake to address this area of your business
- Is there a large discrepancy between your teams answers to this question? – this signifies members of your team are not on the same page about a specific area of your business. Take the time to discuss each others points fo view and see if you can find a common view. Discuss what actions you could undertake to address this area of your business. e.g. in the example below the orange user clearly has a different view of the strategic plan than the other users.
Once you have worked your way through the four wedges of the Ownership quarter, you should have come to a common understanding of where your current business is at, and an agreed set of actions on areas that need improvement.
Work your way through each of the remaining three quarters to complete the BAR analysis.
- Complete the BAR and get your colleagues to do it as well
- Schedule dedicated time to review the results
- Work your way around the BAR, looking for areas for improvement and areas of mis-understanding
- Create a set of actions to improve the areas of weakness
- Use the suggested strategies, online tools and guides, and marketplace of providers to get help when you’re not sure what to do