What is Market Readiness?

'Market readiness' refers to having your offers to your target customer groups ready to go to market in a fashion that will lead to customer satisfaction, and make you some money in the process. It involves five components:

• A Know Your Customers
• B Tune Your Offers to Fit Their Expectations
• C Deliver Quality Service
• D Engage in Market Development and Marketing
• E Keep Things on Track

This toolkit addresses each of these topics in turn; raising questions about how you are running your business and providing connections to resources that could help you improve your state of market readiness. But first, you will need to have a framework in place to assist in implementing the enhancements you decide upon; it’s called a business plan, and with a plan comes the need for a budget…..

Have a Business Plan and Budget

Do you develop an annual business plan and budget to guide your management activities? If so, then you have a business planning tool to use in setting out your market readiness action plans. If not, you should think of adding this important management tool to your business.

‘You need to know where you need to go if you expect to be able to get there!’

The results of your market readiness planning need to flow into a business plan and budget.

Do you have a business plan?