With some effort and understanding of the task and its benefits, you may even find a buyer with a significant degree of synergy through increased purchasing power. With thought and planning you will see how your product group or service offering can immediately benefit a buyer and their customers.

 

Trust your instincts on this! Pick your spots and take actions with confidence. This step reduces your scale of activity so you can eventually focus on higher priority tasks. But, maybe more importantly, the cash generated will buy you precious time to do the needed repositioning of your business while the marketplace changes. These opportunities, uncovered when you know “what business you are really in, ” will create huge benefits for you and your operation for the long term.

 

This is a critical preparatory step to your planning. It is one of the indispensable actions that will permit you to develop the solid foundation needed to create a thriving business. Major corporations routinely spend hundreds of thousands of dollars on expensive and elaborate market research studies designed to help them better understand target markets and how their products are or should be positioned. These research projects often include mail and online surveys, telephone interviews, and focus groups.