Reinveinting Q & A Checklist

When you are considering reinventing or reinvigorating your business, the first step is to assess your current business and the business environment.

Use the following checklist to help you get started, and then contact your local OKSBDC office to schedule a no-cost Business Success Check-Up. Working together we will work to gain a current benchmark for your business and begin developing a strategic plan toward your new goals.

CURRENT STATUS/COMPETITOR COMPARISON

*What is your current product or service?

*Does it meet today’s customers’ needs/wants?

*Are you providing the product/service in the most cost efficient, consumer-friendly way?

*How does your pricing compare with your competitors?

*How does your delivery system compare with your competitors?

*Do you have additional expertise or assets that could be utilized? Or, are some equipment and assets unused and need to be sold to make room for a new direction?

PRODUCTS/SERVICES & MARKET

*Should you add new products/services to your line?

*Should you grow your existing markets or seek new market share?

*What is happening in your industry that will affect your decisions?

*What is happening in the economy that will affect your decisions?

STAFFING/RESEARCH & TRAINING

*What research is needed to provide you with the required information?

*What training will you need to help you set and accomplish your goals?

*Are additional employees needed and do you know how to hire and manage them?

For assistance with these issues and more, contact your local OKSBDC office.