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David Shelton’s business tips: Prioritising threats and opportunities


If you have reviewed the threats and opportunities relating to your business, you will know the lists can be lengthy and contain issues of different scale, timespan and impact. Typically, only a few of these will be really important for your business, so use the following questions to help identify where you should concentrate:

  • What are the big changes in the external environment for the next three to five years?
  • How will they affect your business?
  • Which ones worry you most and which are secondary?
  • How certain are you that these changes will happen?
  • Are there any show stoppers that could prevent you from trading?
  • Which parts of government policy will influence what you do or what you advise upon?
  • Where are the greatest opportunities?
  • How well placed are you to respond to these changes?
  • Are there any actions you need to take now or within six months?
  • If the picture is unclear, what is your working assumption?

The answers to these questions should allow you to concentrate on factors that will directly affect your business. 

David Shelton is a consultant at Stoke Bishop Associates 


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