Do you have a clear sense of who you are as an organization? Or, are you happy to sell anything to anyone?
Once these fundamentals of identity and vision have been established, the strategic conversation can turn to more traditional elements of competitive planning. In what geographic territory does the organization wish to operate? Who is its core customer? What products and services does the organization offer? What are the tangible benefits of these offerings? What ultimately drives new business?
All of these (and more) are questions that need to be thoroughly and thoughtfully analyzed and discussed by the executive team. The more you commit to “drill down” to answer them, the more effective your organizational intelligence and direction will be.
Next, you’ll want to take a closer look at the information you’ve garnered to review your products/services and customers relative to their potential profitability to your organization. Which customer groups are most profitable? Which products? Are there subdivisions that are more profitable than others? The answers you get here will help you to determine which subset of your business deserves the most focus.