The document provides guidance on effectively operating and growing a business. It discusses identifying skills needed, performing risk assessments and SWOT analyses, defining products/services and customers, determining financial resources, marketing plans, cash flow projections, legal structures, and regular evaluations. Key factors in SWOT analyses and defining target customers are outlined. The importance of financial analyses, break-even points, cash flow management, and elevator pitches are also highlighted.

1. Effectively Operate and Grow Your Business Strategic Issues

6. SWOT Analysis

7. Typical SWOT Analysis Factors STRENGTHS WEAKNESSES OPPORTUNITIES THREATS Marketing expertise New, innovative product or service Location of business Cost advantage Quality advantage Strong brand/reputation Developing market (China, Online Sales) Mergers, joint ventures, alliances Loosening of regulations Removal of trade barriers Market led by a weak competitor Undifferentiated Product/Service Location of business Superior distribution channel by competitor Quality disadvantage Weak brand/reputation New competitor Price War Tightening of regulations Increased trade barriers Increases in taxes