- What is your business going to look like three years from now?
- What products or services should you focus on selling/offering?
- Who will your customers be?
- How will you successfully market yourself?
- What are the unique attributes of your business? (How do you differentiate yourself?)
- Where will you be located? (How many locations will you have?)
- What will your profits be?
- Will you expand nationally or internationally?
- Will you grow your team?
- Will you franchise, go public or sell?
The answers to these key questions depend on three critical factors:
- How fast is your company growing?
- How quickly is your industry evolving? What is the state of your industry?
- What is the current strategy of your competition
Keep in mind that a big part of your success in this process will be tied to your ability to clearly take stock
of where your business is currently at:
- How well can you identify your strengths and weaknesses and the current ‘shape’ you’re in?
- How do you compare to your competition?
- What are your gross revenues? Profit margins?
- Do you have a useful set of key performance indicators?
- What is your market share?
- How can you improve your internal systems?
- Does your team understand and represent your brand?
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