Change Gear - Step 1 - Assess your current position

Let’s start with a snapshot of where you are.

Before making any changes, it's crucial to understand your business environment, customer base, competition, product line and processes. This knowledge combined with deep truthful introspection, will empower you to make smart, strategic decisions.

Here’s how to get started.

SWOTA analysis

The SWOTA helps you understand the internal and external factors influencing your business, including operations and stakeholder perspectives. This analysis helps identify actionable insights for your transformation strategy. Use these insights to identify where your business can shine, fix any weak spots, grab new opportunities, and tackle potential threats. This knowledge, and deep truthful introspection, will help you make smart, strategic decisions.

• Strengths
  Identify what your business does well, such as superior products, strong brand recognition, or exceptional customer service. These are your competitive advantages.
• Weaknesses
  Recognise areas for improvement, like operational inefficiencies, limited resources, or gaps in your product line.
• Opportunities
  Look for external factors you can capitalise on, such as market trends, changes in consumer behaviour, or technological advancements.
• Threats
  Identify external risks like new competitors, economic downturns, or regulatory changes.
• Actions
  Plan strategic steps to enhance your strengths, address weaknesses, leverage opportunities, and mitigate threats.
  
  

Customer base analysis

This analysis helps you understand your customers’ needs, behaviours, and pain points, enabling you to connect with them more effectively.

• Collect data
  Use CRM, sales, and website analytics to gather demographic and behavioural data. Conduct surveys, interviews, and monitor social media for deeper insights.
• Segment customers
  Group customers based on how they interact with your products (behavioural segmentation), their specific needs, and lifestyle or psychological factors.
• Develop personas
  Create detailed customer personas with names, stories, and characteristics for each segment.
• Validate and refine
  Check your personas against customer feedback to ensure they are accurate.
• Tailor offerings and messages
  Customise your products, services, and marketing messages to meet the specific needs of each customer segment.
• Implement and monitor
  Roll out your strategies and monitor customer feedback, adjusting as necessary.
  
  

Market position assessment

Understanding the competitive landscape helps you identify threats and opportunities, informing strategic decisions that enhance your competitive advantage.

• Strategic planning
  Use competitive insights to differentiate your offerings, improve market positioning, and capitalise on competitors' weaknesses.
• Product development
  Identify market gaps competitors aren't addressing, allowing for innovation and improvement in your product line.
• Marketing strategies
  Tailor your marketing to highlight your unique value propositions and strengths, attracting and retaining customers.
• Risk management
  Plan for potential competitive moves, like new market entrants or shifts in competitors' strategies, to mitigate risks.
• Market trends identification
  Watch competitors to spot broader market trends and shifts in consumer preferences, ensuring your business stays aligned with market demand.

ACTION

Assess your current position

Download and complete the template to determine whether to make a strategic shift or fine-tune your current approach.