6 Tough Questions a Small Business Should Ask Itself

by Jim Smith on October 29, 2012 · 4 comments

As the owner of a small business, you should be able to answer the following six questions without hesitation.

Small Businesses

What market segment are we missing?
Do we really understand our favorite customer and what pain he/she is suffering from. Are we capable of showing that customer that we can solve their pain. Are we capable of communicating with that customer in phraseology that the customer is comfortable with. Do we use the customer’s key words and phrases on our website and in our collateral.
Is our team good enough to make our customers happy?
Do we know when our customers are upset at us and wanting to take their business some-where else. Are we compensating our employees for meeting with customers in a non-sales environment to understand exactly what is bothering our customers.
Are we spending enough time studying our customer needs?
Not only do we need to understand our customers’ current needs. We also must realize that these needs are changing and we have to keep in close touch with customers so they can advise us as to which path we need to be on.
Do customers come to us because of our outstanding customer service?
Is our customer focus so well known that it brings customers to our doors. Do customers mention us to their peers and friends because of our splendid customer service
Are we teaching our team to run like a team?
Or are our employees trying to outdo each other. Are they focused on the needs of the customers and the goals of the business. Is there one “elevator pitch” that all employees understand and can recite word for word.
What do we do next?
Do we know what our next step is. Are we on top of the economic environment and are we getting the correct financial data to make timely business decisions. Do we really understand what the next tactical and strategic moves are for our company?

If we can answer these six questions, we shouldn’t relax, but we can pause and take a deep breath.

{ 4 comments… read them below or add one }

dafnadigs October 31, 2012 at 1:01 am

I enjoy reading your posts. They are very informative and have helped me with my startup business. I’ve had great success following your advice.


Jim Smith Jim Smith October 31, 2012 at 6:05 am

Glad you find them helpful.


Nick November 5, 2012 at 4:35 pm

Jim – Great post. #3 rings true for us right now.


Jim Smith Jim Smith November 5, 2012 at 4:56 pm

Thanks for stopping by Nick. Whether you are starting up, are in the early growth phase or have been around for a while, this holds true. You have to understand the customers’ changing needs and keep your product on track to satisfying those needs.


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