Episode A.015 Are Your Markets Still There?

Author's Notes
We are introducing a new format to our Show Notes and Broadcasts. We received feedback our podcasts are too long (average 26 minutes). The shows have been restructured into 13 minute segments - each with a specific objective.

Segment 1: What the show will cover and why it is important.

Segment 2: What do you need to know to take action.

Segment 3: How do you apply it and the tools available, and

​Segment 4: Tips and Insights from our experience. Thanx for the Feedback and keep it coming.

What are Today's Topics & Why is it Important?​
Given the impact of Covid19 on your business - what options are available to weather the storm. Most economic projections for the 3rd Quarter (July-September) is 5.45 growth in the economy. In real terms that means you can expect about a 35% increase in revenue. If we expand the period of time to include this month, where is your greatest opportunity and threat?

Why is this critical - are you selling into a market that has changed too much or is it not there? If you reevaluate the market - is that still the right place to be? Today's Topics: (1) What Questions to Ask, (2) Where to find the information

Knowledge to Take Action
The following are key questions to ask yourself about our target markets:
1. Has the market expanded or contracted?
2. Over the June - September period - what is the estimated size of your target markets?
3. How much did your market share or revenue contract?
4. What is the status of your competitors?

​Some excellent sources of information:
1. McKinsey
2. NFIB
3. Bureau of Economic Analysis
4. Small Business Majority
5. Market Watch
6. Marketplace

What You Need to Do
1. Gains - do you have any gains and what is your strategy for holding or growing?
2. Losses - where did you have the greatest loses with the potential of clawing it back?
3. Where did you have the greatest losses and that market is dead? 
4. Can you stay in business with a projected 5.4% growth in GDP (35% of lost revenue)?

Next Show: How Has The Customer's Buying Decisions Changed?

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