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
What Comes Next...
The Business Bootcamp is an 8-week workshop series designed to take your business from flop to fabulous, and take browsers to buyers. Businesses will learn about planning for growth, branding, how to make a profit, and marketing plans. Business Bootcamp will take the guesswork out of running a business and give you all the tools to succeed.
Business Planning Basics is the natural next step after Start up to Success. If you’re looking to write a solid business plan to bring on investors, gain capital, or for internal purposes to grow your business, BPB is the way to go.
A streaming service of on-the-go business coaching masterclasses and episodes to help you grow your business without distraction. Your mentor in your pocket.