Step 2 | Targets

Step 2 | Targets

One of the most important aspects to continuous improvement in business is establishing targets which help measure success as well as evaluate their effectiveness. You can’t know if you are improving without setting measurable objectives; it will just feel like all your efforts were for naught!

You need to do the research to set your targets. 

Market Size.

You need to be constantly researching the size of the market, the geographical area in which your business will operate and who will purchase your products within that region.

Your Competitors.

How many competitors are legitimately in your location and offer similar products or services.

What is your Market Share?

Once you understand the size of the market opportunity and how many competitors there are for this one product and the one location – what share of that opportunity could be yours? 10%, 25%, 75%?

Get your Step 2 Tools here

✔️ TL0029 Competitor Analysis Sheet

✔️ TL0109 Sales Opportunity Matrix

✔️ TL0133 Competitor SWOT

Additional Resources

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