– OR –
JUST FIND YOUR ANSWERS BELOW:
Q
What problem does your business solve?
Where to find this information: Ask your customers why they choose to buy from you (it will also help improve your customer relations).
Q
How does your business generate income?
Where to find this information: Monthly profit and loss statement under revenue.
Q
Which parts of your business are not profitable?
Where to find this information: Monthly profit and loss statement under revenue, cost of goods sold and net profit by item.
Q
Is your cash flow positive each month?
Where to find this information: Monthly profit and loss statement under revenue, cost of goods sold and net profit by item.
Q
What is your pricing strategy and why?
Where to find this information: Split test new, higher prices with customers.
Q
How much time do you and your management team spend on generating revenue?
Where to find this information: Review your payroll and categorize each employee as income-generating or overhead. Be honest.
Q
What is your client retention rate?
Where to find this information: Track individual customer revenue year to year, and monitor how it changes.
Q
Will your customers refer other people they know to your company?
Where to find this information: Ask your customers. If you get a new customer from an existing one, keep track it so that you can give those recurring customers special offers—and an incentive to refer more customers.
Q
Who are your most valuable customers (and which are the most costly)?
Where to find this information: Review your gross profit by customer, and ask your employees which customers are the biggest abusers of company resources.
Q
What is your social media strategy?
Where to find this information: Set Google Alerts or DEX Reputation Management to sample social media mentions and determine which critical success factor your social media strategy supports.