In his richly informative and enlightening book, T-Shirts + Suits: A Guide to the Business of Creativity, David Parrish gives us a checklist for self-evaluation. Like many of these sorts of evaluations, the primary value comes from forcing you to answer questions that you need to answer…but frequently avoid doing.
If you are thinking of starting a creative business, or have already done so, you will want to spend some time seeking the answers to these questions. Remember, if you don’t stand for something, you fall for everything.
The PRIMEFACT Checklist (Page 22)
What are the strengths and weaknesses of our people?
Employees, directors, members, associates, advisers and
Reputation (or Brand)
What is our reputation with our target customers? What are
the strengths – or weaknesses – of our brand or brands?
What intellectual property do we have? How is it protected?
How easily can it be turned into income streams?
Market Research / Market Information
What information do we have about market segments and market trends? What do we know about individual clients and their specific needs?
Ethos (or Values or Culture)
What is our ethos, our values and our organisational culture?
Do all stakeholders subscribe to this same ethos?
Finances (ie Money)
What is the current state of profitability, cashflow and assets?
How much money do we have to invest or can we borrow?
Agility (or Nimbleness or Changeability)
Are we agile enough to seize new opportunities?
Are people prepared to change and ready for change?
Are there barriers to change?
Collaborators (Alliances, Partnerships and Networks)
What are the strengths and weaknesses of our associations with other businesses and organisations (including government)?
Talents (Competencies and Skills)
What are our core competencies?
What skills do we have available and what gaps are there?
How will we learn new skills?