You can’t have a strong brand without a solid business backing it up.
Understanding the bones of your business — your offering, customer segments, model, pricing, distribution, and your growth strategy — empowers you to strengthen your strategic foundation, reach your goals and build a healthy, sustainable, thriving organization.
Here are some questions that our powerhouse Business Director, Jen Lu, recommends you ask yourself to get started:
1. DIFFERENTIATION
What differentiates your product from the competition?
2. PRICING
What is your pricing strategy and why?
3. PROFITABILITY
Which parts of your business are most (and least) profitable?
4. RETENTION
What is your client retention and repeat purchase rate?
5. CUSTOMERS
Who are your most valuable customers? And who are your most costly customers?
If you’re interested in strengthening your business foundation, reach out. The UME team is always here for you.
