When you start out you will have an idea in your mind as to how you see your business moving forward. This is a positive beginning however unless you get your thoughts and ideas on paper you will have nothing to reflect on as your business progresses. Successful business growth is about planning and this is a critical stage.
Think about what you can do about what you’ve written. How can you turn “Strengths” into “Mastery”? How can you turn Weaknesses into Strengths? How can you Theodysseyonline maximize your Opportunities? How can you minimize your Threats?
Company A financed their growth with extremely high debt compared to company B (11.3 times financial leverage on an average yearly basis compared to 2.2 times). A deeper analysis of Company A revealed that the initial 19.1 times financial leverage was not sustainable and the company then sold equity to finance growth and bring the debt ratio down. This proved not to be enough and finally the high debt levels came back to haunt them. In contrast Company B used less debt and they almost halved their financial leverage over the period. They are today extremely liquid and solvent.
Not only is the U.S.P. the core message you want to deliver to the prospects in your market, but it should also magnify your strengths. You want to make sure this is a clear message that is sent to everyone. It is important too that your strengths are worded in a way that will explain the benefit to the potential customer. Always think benefits over features when speaking to customers.
If you sell affiliate products, or you sell affiliate products in addition to your regular line of products, which ones are selling? Which ones aren’t?
Entrepreneurship generally means you are going to have to take some risks and you can’t always calculate the outcome. This is when it becomes really important to be clear on your vision for your business and ask yourself, “Is this initiative aligned with my vision?” If the answer is no, then it won’t make sense to spend the time conducting the CBA.
Remember, no matter how much you learn and how much knowledge you attain, it is all worthless without implementation. Someone who DOES first and corrects course along the way will be worlds and many dollars ahead of the person who waits to get all questions answered and for everything to be right first. ACTION over PERFECTION every time!!