Can Your Business Answer These Questions? Part 2

Today is the answer to these questions. When you analyze your business you should be able to answer these or you have room for potential concern.


1.      What is your business estimated annual revenue?
 Obviously this will depend on growth rate, industry and profit margin as well as sales figures.
2.      What Is your estimated annual profit?
This will be the gross profit you figure after doing the previous calculations.


3.      What is your biggest business concern?
 How could your competitors steal market share? Where is your business vulnerable? A swot analysis is nice but you need to go a step farther in knowing your contingency plan.
4.      How do you plan to fix this?
Have a clear vision of multiple alternatives in case adjustments need to be made.


5.      Do you have a Digital Marketing Strategy?
 If you don't know what this is you are in serious trouble if you think that you just set up a Facebook and twitter and a basic website and just forget about them you are also leaving money on the table. Without a clear digital or online marketing strategy you are leaving money on the table and missing out on low cost high ROI revenue.
6.      What Could Be Improved about the results?
These should always be reviewed and adjusted as needed.


7.      Do you have a Information Security Strategy?
One lawsuit from stolen digital assets could cost you millions. What is your information security strategy? I have antivirus and a firewall and no one wants to hack me is not enough I promise.


8.      Do you have a malicious incident response plan?
This is your contingency if someone breaks through your network how do you minimize the effects and protect your customers data?


9.      If not are you aware of the risks?
 Self explanatory
10.  How are you leaving money on the table or taking unneeded risks?


If you don't know the answer to most if not all of these question you are playing with fire.
In the end it's not about just answering questions but knowing clearly how your defined strategy fits and will be executed. At the end of the day you either know or you don't the rest isn't really that important.
What are you questions or concerns? Let me know in the comments below.