Do you have a strategy for your business?

Here are a few important things to consider when running your start-up business. As the market ecosystem in Greece is changing, more and more individuals become freelancers or set up their own companies. The ''tips'' below are influenced by the Design School of Strategy formation.

• 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