Northrim Bank

Are you prepared to SurThrive?

Learn to survive and thrive in Alaska's economy.

See if your business is prepared to SurThrive in Alaska's changing economy by taking the assessment below. Based on your results, we'll provide you with a customized report complete with expert advice on how to sharpen your SurThrival skills.

Answer "yes" or "no" to the following 21 questions. If you are unsure, answer "no."

Tell us a little about yourself:

1. I am comfortable talking to my bank, financial staff, and advisor on financial issues. Yes No

2. I understand the financial statements for my company. Yes No

3. My business financial statements are regularly updated. Yes No

4. I am familiar with the key performance ratios and regularly benchmark the performance of my business against industry standards. Yes No

5. My business financials are regularly stress tested. Yes No

6. I know the amount of cash I should have in reserve. Yes No

7. There is a contingency plan for any change in revenues, costs, expenses, competitive landscape, vendor issues, and key employees. Yes No

8. I know my company's break even sales amount on a monthly and yearly basis. Yes No

9. I regularly manage or monitor the cost management of my business. Yes No

10. Cash flow, profit margins, and working assets of my business are monitored regularly. Yes No

11. I have a plan for financing my business in a down economy. Yes No

12. I have a banker who understands my business and is a partner in its success and growth. Yes No

13. I provide my banker with information on my business (statements and business plans) on a regular basis. Yes No

14. I understand the changes occurring in my business's industry and the operating environment. Yes No

15. A competitive analysis is regularly performed that includes current and potential conditions and competitors. Yes No

16. I have a targeted approach to marketing to eliminate inefficiencies and focus efforts. Yes No

17. I have a firm understanding of my employment structure and the critical components of it. Yes No

18. Health care options and other benefit plans for employees are regularly evaluated. Yes No

19. I actively manage my operations and perform risk analysis on key business activities. Yes No

20. My business maintains adequate professional and business liability insurance. Yes No

21. Supply chains and vendor management are reviewed regularly to ensure efficiencies. Yes No

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