Welcome to Align Strategic's Founder Freedom™ Assessment. Please answer the following questions to get your score.
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Question 1 of 50
Question 2 of 50
First and Last Name:
Question 3 of 50
In one sentence, how would you describe your business to a new acquaintance (i.e. what does your company do?)
Question 4 of 50
Would you say that your industry is:
Growing at about the rate of the economy
Growing a little faster than the economy
Growing much faster than the economy
Question 5 of 50
Which of the following best describes the exclusivity of your business to your customers:
We sell a commodity product/service that our customers can get from many other suppliers
We sell a product/service that our customers can get from a few other suppliers
We have a niche product/service that is unique in the marketplace so our customers would have to work hard to find another supplier of what we sell
We have a monopoly on the service/product we sell
Question 6 of 50
Thinking about the market share for the products / services that you sell, do you sell to:
Most of the people who buy what you provide (more than 90% market share)
More than half of the people who buy what you provide (more than 50% market share)
Less than half of the people who buy what you provide (less than 50% market share)
A very small proportion of the people who buy what you provide (less than 10% market share)
Question 7 of 50
Which of the following best describes your company's personal relationship with your company’s customers?
I know each of my customers by first name and they expect that I personally get involved when they buy from my company.
I know most of my customers by first name and they usually want to deal with me rather than one of my employees.
I know some of my customers by first name and a few of them prefer to deal with me rather than one of my employees.
I don’t know my customers personally and rarely get involved in serving an individual customer.
Question 8 of 50
Which of the following best describes the typical level of customization which you offer your customers?
We offer a complete custom solution to meet the unique needs of each customer we serve.
We have a basic set of products, methodologies and services, but we often customize them a lot for customers.
We have a standard set of products, services and methodologies that we tweak slightly for some customers.
We do not customize our products, services or methodologies for individual customers.
Question 9 of 50
Please estimate the percentage of your customers who are VERY SATISFIED with the services/products which your company provides:
Less than 25% of our customers are “very satisfied”
25%-50% of our customers are “very satisfied”
51-75% % of our customers are “very satisfied”
More than 75% of our customers are "very satisfied"
I ’m not sure - we don’t measure customer satisfaction
Question 10 of 50
How often, if at all, do your existing customers refer your company to their friends and colleagues:
Question 11 of 50
In the last 12 months, what proportion of your customers complained in writing (e.g. email, letter, submission to your website)?
Less than 1%
More than 10%
Question 12 of 50
Which of the following best describes your business model?
Our net profit margin goes down with each new customer who buys from us
Our net profit margin stays about the same with each new customer who buys from us
Our net profit margin improves a little, the more customers buy
Our net profit margin improves a lot with each new customer who buys from us
Question 13 of 50
How do you typically get paid by your customers?
100% billed after the customer receives what they have purchased
An upfront deposit, followed by the full balance after the customer receives what was bought
Spread equally over the time it takes us to deliver what the customer bought
100% billed when the customer agrees to buy
Question 14 of 50
What percentage of your overall revenue did your largest customer represent last year?
Question 15 of 50
Which of the following best describes the potential impact of losing your largest customer. Would your business:
Hardly suffer at all, and survive
Suffer a little, but survive
Suffer a lot, but survive
Question 16 of 50
What percentage of your sales/revenue (i.e. turnover) is “recurring”? Recurring is defined as subscriptions, maintenance contracts, or annuity streams that your customer must proactively turn off or cancel in order to stop receiving the product or service.
Question 17 of 50
What percentage of your company's revenue (i.e. sales / turnover) is undertaken personally by you or your fellow equity holders?
Question 18 of 50
Please think of the person who contributes the most to each of the following areas of your business. How easy or difficult would it be to replace them? For section a) and b) if this person is YOU, select IMPOSSIBLE.
Sales and marketing:
Question 19 of 50
Product/Service design & delivery
Question 20 of 50
External supplier. How easy or difficult would it be to replace your most important supplier?
Question 21 of 50
In the next 12 months, do you expect your revenue (i.e. sales / turnover) to:
Remain at its current level
Increase by up to 10%.
Increase by between 11 and 20%
Increase by 21-30%.
Increase by more than 30%.
Question 22 of 50
Which of the following best describes the possibility of your company selling more to your existing customers?
Our customers are pretty much tapped out - we already sell them everything they need when it comes to our products/services
There are one or two complementary products or services we could be selling to our existing customers
There are a reasonable amount of other products and services we could be selling to our existing customers
There are lots of other complementary products and/or services we could be selling to our existing customers
Question 23 of 50
If customers were lined up at your door to buy, would you find delivering FIVE times the current volume of what you sell:
Question 24 of 50
Would replicating your business to serve a new geographical area be:
Question 25 of 50
How would your business perform if you were out of action for 3 months and unable to work?
Suffer a lot, and not survive
Question 26 of 50
If you could achieve just ONE of the following goals in the next 12 months, which one would it be?
Grow your top-line revenue (i.e., sales).
Grow your bottom-line profit.
Become better known as a master of your craft.
Question 27 of 50
Who would you be most likely to turn to for advice on building the value of your company? (Select all that apply.)
Close friend or family member
Question 28 of 50
Which of the following best describes your definition of someone who is wealthy?
Having enough money to do whatever you want, whenever you want
An individual with at least $10 million in investable assets
Having enough money saved up to cover your monthly lifestyle expenses for the rest of your life
Question 29 of 50
Which of the following describes your biggest fear when it comes to selling your business?
Not getting the value I think my business is worth
Not having anything to do in retirement
Disappointing my employees
That no one can run things as well as I have
That the legacy I have built will not continue or will change from what I would like it to be
Question 30 of 50
Which of the following best describes your long-term goal for your business? I plan to:
Sell my business to a third party
Transition my business to my kids
Transition my business to the next generation of managers
Shut down my business
Question 31 of 50
Which of the following best describes what you look for in an advisor?
A track record of helping fast-growth companies
A track record of helping companies in my industry
A track record of helping companies in my city
Question 32 of 50
FACTS & FIGURES
Which of the following best describes your management team?
We don't have one
We have a couple of senior people who act as informal leaders, but their leadership roles are not clearly defined
We have managers in charge of sales/marketing and producing our services/products
We have a management team in place, and they have a compensation package that provides a long-term financial incentive to stay with our company (i.e., more than an annual bonus)
Question 33 of 50
What was your profit margin (before tax) in your most recent completed financial year?
NOTE: Please adjust your profit margin to reflect a market-rate salary for the owner(s). For example, if you withdrew $350,000 in compensation but you could hire someone to replace you for $120,000, then estimate what your profit margin would have been if you had only withdrawn $120,000.
We lost money
More than 20%
Question 34 of 50
What was your company’s annual revenue (i.e. sales / turnover) in US DOLLARS last year?
$5,000,000 - 9,999,999
$10,000,000 - 19,999,999
$20,000,000 - 29,999,999
$30,000,000 - 49,999,999
$50,000,000 - 99,000,000
Question 35 of 50
When comparing your most recently completed financial year with the previous year, did your revenue (i.e. sales / turnover):
Increase by more than 30%
Question 36 of 50
Which of the following best describes your approach to financial record keeping?
We give our accountant a stack of receipts and they figure it out
We keep track of things ourselves using an accounting package (e.g. QuickBooks, Simply Accounting etc.)
We hire an accounting firm to prepare a "Notice To Reader" statement each year
We hire an accounting firm to conduct a “Review Engagement” each year
We hire an accounting firm to produce “Audited Statements” each year
Question 37 of 50
What is your typical gross profit margin? Gross profit margin is defined as the proportion (percentage) of money left over from sales (i.e. turnover/revenue) after accounting for the cost of goods sold. (For example, if your company sells a product for $200 and it costs your business $80 to buy the raw materials to make your product then your gross profit would be $120 and your gross profit margin would be 60%).
Less than 40%
More than 80%
Question 38 of 50
Please select which of the following statements best describes your cash needs:
We need more cash than we generate, so we’re regularly trying to raise or borrow money
We need more cash than we generate so we're occasionally trying to raise or borrow money
Our business generates excess cash which we keep in the company as a “rainy day” fund
Our business generates excess cash which we distribute to shareholders regularly
Question 39 of 50
Please estimate your influence by calculating the total number of people who have opted in to receive information from you and/or your company in the form of signing up for your website (e.g. newsletter, email mailing list or blog), Twitter "Followers", Facebook "Fans", RSS subscribers or people who have added you to their Google Plus "circles".
Question 40 of 50
Pre-tax profit last year
Question 41 of 50
Pre-tax profit 2 years ago
Question 42 of 50
Pre-tax profit 3 years ago
Question 43 of 50
SELLING YOUR BUSINESS
Have you received a written offer (Letter of Intent, Expression of Interest) to buy your business in
the last year?
Question 44 of 50
What multiple of your earnings did the offer represent? Please estimate the multiple using the
money (or other currency like stock) that was being offered at closing. Please do not include any
money being offered in the form of an “earn out”, or management contract that was contingent on
your future performance.
I haven't received an offer
0 times earnings
1 times earnings
2 times earnings
3 times earnings
4 times earnings
5 times earnings
6 times earnings
7 times earnings
8+ times earnings
Question 45 of 50
Which of the following best describes your industry:
Accommodation & Food Services
Administrative & Support and Waste Management & Remediation Services
Agriculture, Forestry, Fishing & Hunting
Arts, Entertainment & Recreation
Finance & Insurance
Health Care & Social Assistance
Management of Companies & Enterprises
Other Services (except Public Administration)
Professional, Scientific & Technical Services
Real Estate Rental & Learning
Transportation & Warehousing
Question 46 of 50
In which year did you start your business?
Question 47 of 50
How many years do you plan to continue operating your business?
Question 48 of 50
Please indicate the year in which you were born?
Question 49 of 50
Question 50 of 50