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"Efficiency is doing things right; effectiveness is doing the right things." - Peter Drucker
To better understand how we may be able to help you achieve your business and personal goals try to honestly and objectively answer the following questions.
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Leadership
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What is the vision you have for your company? Do your employees know what it is? Do your vendors? Do your customers?
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If I randomly stopped one of your employees and asked them to explain your company's strategy, could they? If I stopped three would they all say the same thing?
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How often do you have company meetings to update employees? Have you had more or less as the economy became more challenging? Why?
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What do you stand for? What does your company stand for? How do you let your market know what your company stands for?
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When was the last time you sat face to face with one of your customers? Who requested the meeting and why? How often does this happen?
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Business Strategy
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What is your current business strategy? Is it achieving the goals you set for the quarter? For the year? How about over the past three years?
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When was the last time you reviewed and modified your business strategy based on changing economic, market, or competitive conditions?
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Can your employees, stakeholder's, and key customer's accurately explain your strategy?
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Does your strategic plan contain enough detailed information to allow its successful execution?
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How do you monitor and measure its success?
Market Strategy
- Do you really understand your market? Most markets are constantly evolving due to changing global and economic conditions. Are you keeping up with these?
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Are there any new developments on the competitive front?
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Do you have a comprehensive market strategy to successfully launch your next product?
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Does your market strategy drive maximum profit margins?
Product Development/Technology Commercialization
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Is it a science project or a product?
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Is there a market? More importantly, is there demand?
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Can this technology be scaled into production quantities?
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Can it be reliably manufactured?
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Can it be priced to achieve acceptable margins?
Operations Strategy
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How will you manufacture and distribute this product?
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Do you plan to outsource any or all of the manufacturing steps? How do you decide which steps to accomplish internally versus outsourced?
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What skill sets will you need to develop to manufacture this product?
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Will the manufacture of this product require specialized assembly or testing equipment?
Profitability Improvement/Cost Reduction
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How do I set achievable profit goals for my company?
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How can I monitor and maintain profitability during the product development process?
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What is the relationship between market strategy and profitability?
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What steps can I take to maintain or improve profitability?
Exit Planning and Preparation
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If you had to sell your company in the next year, could you? What do you think would be the biggest concerns of a potential buyer?
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How much is your company worth? Is this enough to fund your retirement? What could you do to raise the valuation?
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If you sold your company this year who would run it when you leave?
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What type of buyer would you like to see own your company when you leave? What type of buyer would you resist selling to? Why?
Contact: Bill Gately Tel: (781)-710-4064 E-mail: bill.gately@rockland-group.com
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Copyright 2006 - 2010 The Rockland Group, Inc. All rights reserved. Reproduction without permission prohibited.
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