8 Business Variables That Can Change Your Bottom Line

As an entrepreneur or business person, it is your job to stay focused and always continue to improve your strategic business plan.

The basic strategic variables for consideration as you make a plan for the future are products, services, customers, markets, finances, people, technology, and production capability.

These are areas of your business that you may continue as before or change, depending on your strategic goals.

1) Products and Services

What exactly are the products and services that you are planning to offer?

2) Finances

How much money do you have, and how much money will you need to achieve and sustain financial profitability?

3) Customers

Who is your ideal customer, your perfect customer?

4) Markets

What markets are you going to enter? How are you going to penetrate these markets? Are you going after geographic markets, horizontal markets, or vertical markets? Who are your competitors in these markets? How do you need to advertise, promote, sell and otherwise penetrate these markets?

5) People

Who are the key people you will need in terms of skills, abilities, and proven competence? Where and how will you get and keep these people?

6) Technology

What sort of technology will you require to build and operate your business? Is your current technology sufficient and satisfactory in light of the rapid changes in technology that you competitors are adapting?

7) Production Capability

Finally, what is your production capability?

8) Set Clear Goals

People who need to listen to this show are entrepreneurs, career coaches