Do you have a strategy for your business?
- Identify current trends as your customer/s & their preference/s change/s constantly impacting your product demand or design - societal changes
- Watch out for legislation changes & law enforcements that can increase your product or service costs, hurt your investments too - governmental changes
- Don't underestimate economic indicators such as interest rates/exhange rates/real personal income. All these factors can have a significant impact upon your products/services demand, profits & debt costs - economic changes
- New technologies are accelerating, new competitors are entering affecting your cost position. Are you going to shift your prices, create new products to gain a competitive advantage thus gain a bigger market share? - competitive changes
- Supply changes impact your overall cost production scheme & can hurt your new investment plans. Beware for your input/output costs - supplier changes
- Reach out for new markets (domestic & international). New markets will increase the demand for your business & positively alter your distribution channels. New markets will also offer new perspectives as regard to the use of your products or services - market changes