5 Business Questions…..
There are 5 business questions that need to be answered to form the basis of a business strategy. Its important to know where you are before you can think anything about where you should be. We need to know where we are before we can decide where we’re going and these questions will go a long way to help us do that.
Just so you know, before we get to the questions we confirm our ‘Non-Disclosure Statement’ and assure you that any information you give is for the sole purpose of serving as an insight into your business and remains confidential not be shared with anyone else or any other company.
1. In your business, how much scope do you think you have to expand and to what extent increase without increasing your workforce; 25% of your existing business; 50%, 100%? Do you think you could double your turnover?
(You might be in a business where any accurate answer to this is indeterminable but you will know how much you‘re doing at the moment from your sales figures. This could be a good time to indicate how much more business or increase in sales you would consider a success.)
2. From the clients/customers you have at the moment, do you have repeat or ongoing business and what would you say is the average value of a client/customer to your business per annum?
(Dependent entirely on the line of business you are in will determine if it’s new client’s with one off purchases we are looking for, new client’s with repeat or ongoing business and whether you are getting the most out of your existing client base.)
3. Do your present resources enable you to expand your business without having to invest in more staff, systems or larger business premises?
(This will give us an indication of the amount we can increase the business without other logistical problems manifesting that might cause more pain.)
4. What marketing arrangements do you have at the moment; are you involved in any paid acquisitions (advertising) or do you rely on referrals or word of mouth?
(What advertising are you doing at the moment, if any? Have you advertised through any social media channels, ie Facebook or Google Adwords?)
5. Any proposals we make may come with a cost (social media costs nothing). Have you planned for any further investment, and considered the time it may take to get a return?
(This is always the sensitive part but it shouldn’t be. We don’t propose to increase financial burden to you, that would be counter-productive, but some of the suggestions we are likely to propose may have an expense. We would work to a pre-agreed budget so you know exactly where we are but it’s important to have an open and transparent relationship from the start. We don’t want to waste energy skirting around the elephant in the room.)
You might want to prepare the answers to these and have them ready for when we talk to discuss them or if you prefer you can send us an email to digest. Put your answers in a note form so we can hit the ground running.
Just list your comments to these 5 Business Questions and we’ll work it out. You’ll get an insight from these questions about the way we work. We like to think we are direct while being empathetic, but focus on the task at hand.
Remember you are under no obligation. If you feel more comfortable speaking to us directly feel free to give us a call. Our only objective is to work with you and show how we can make your company more successful.
We appreciate your time; please send your reply sent directly to me, Geoff Willett, at firstname.lastname@example.org and I will attend to them personally and get in touch with you. If you need anything you can call me personally on 07879777423. Alternatively, you can give us a call on 0800 193 4060 and mention the reference answers to discuss everything in more detail.
Call us Today, let’s get something moving. You have nothing to lose!