Most business owners with whom we meet have good “gutfeel” instincts about their companies’ industries. They know more about the ins/outs than a consultant could learn in years. However, when pressed for specifics (e.g., in a due diligence or appraisal situation), owners find themselves at a loss to answer more quantitative questions.
- Exactly how large is your industry?
- How fast is it growing?
- Is that growth accelerating or decelerating?
- And, why?
Equally as important is the owner’s knowledge of how his company’s performance stacks up relative to the competition.
- How does your company’s size stack up to the competition?
- Does your company grow as fast or is as profitable as the competition?
- Why would there be differences?
- Does the competition offer a greater breadth of products?
- Does that matter?
We have both the databases, tools, and experience to find the answers to those questions which should be incorporated into longer-term planning.
Similarly, we research customers.
- What is a company’s customer profile?
- What are the broader dynamics that could be impacting the size of that pool, either positively or negatively?
- Are the options for that customer base growing?
- Are the things that motivated those customers in the past the same as will be the case in the future?
Let us use our tools and experience to help you find answers to those questions.