Adjust to a changing marketplace

We live in an ever-changing marketplace. Successful companies find ways to leverage change as a catalyst for growth. The Florida SBDC Network can help you leverage change by understanding your assets and strengths, and building a toolkit to reinvent the way you do business. Ask yourself the following as you consider renewing your business model:

1. Market Share/Markets

  • Do you understand your market share?
  • How do you find new market share?
  • Should you grow existing markets?
  • What research do you need to do?
  • What is happening in the global market that might affect your business?

2. Products/Services

  • Should you add new products or services to your business?
  • Should you expand existing products or services?

3. Assets

  • What are your assets?
  • What expertise do you have in your business now?
  • What unused assets might be sold?
  • What equipment do you have?

4. Planning For Change

  • How do you manage change?
  • How will change affect your company?
  • What strategies do you need to employ to manage change?
  • What training might be needed?