Private business owners face unique challenges in structuring their businesses to generate the long-term results that customers, investors and they themselves require.
A first step is to consider your capability to assess, analyze, and implement your business growth strategy. If you're seeking to create specific growth and expansion to meet strategic objectives, and need more information on how to look at your business, here's a "Top 10" list of questions to help you assess your business' needs and opportunities.
This "Top 10" list, designed from experience, can help private business owners think through the challenges, opportunities and potential their business might hold.
- What's your goal? (exit strategy - what do you need from your business?)
- What's your plan? (how will you reach your goal?)
- How you doin'? (and how do you know? Customer/ Financial/ Productivity/ Competitive metrics)
- Who are your customers? (what do you know about them-and how do you reach them?)
- What "value proposition" are your customers buying from you?
- What would your customers say about your business as a service provider? (net promoter score)
- Who are your employees-and prospective employees? (how do you reach them?)
- What qualities does your brand stand for?
- What contingency plans have you made? (key employee leaves; major competitor moves in; you/ family member get sick; etc.)
- How much life (and value) does your business have, without you playing an active role in it?
If you'd like to know more, enter your name/ email address below to download the full questionnaire.