Page 291 - merged.pdf

CHAPTER 9 GROWING YOUR BUSINESS EMPIRE

• What is their disposable income?
(i.e. what price can they afford)

• How are their demographics different?
(i.e. age, sex, race etc…)

• What are your customers’ psychographics?
(i.e. how different is their mindset and culture?)

• Which is the best media to reach them with?
(i.e. newspapers, TV etc…)

2) Competitors
• Who are they? How strong are they?
• What is their pricing strategy?
• What is their marketing strategy?
• What is their distribution strategy?

3) Business Laws
• What are the company structures?

(i.e. private limited, partnerships etc..)
• What percentage of foreign ownership is allowed in a

company?
• What are the corporate taxes? What are the reliefs?
• What other country specific business laws are important?

(e.g. minimum age law, discrimination law, copyright law,
termination law etc…)

4) Political Situation
• How stable is the political situation?
• How may the laws change if a new party is in power?

5) Economic Situation
• Is the general economy/specific industry growing or

contracting?
• What are the income levels? How fast are incomes rising?
• What are the property prices and rental rates?

282 SECRETS OF BUILDING MULTI-MILLION DOLLAR BUSINESSES