1. Do you have a detailed, written
description of your ideal target market that includes, at a minimum: typical
buyer demographics, geographical area, annual revenues, industries, and
2. Have you written down the specific
challenges and problems your services/products solve for your ideal target
3. Can you easily and clearly explain to
interested prospects what you offer in less than 30 seconds and how it
4. Do you know the 3 biggest obstacles you
face when marketing and selling your services or products?
5. Can you clearly present several factors
that differentiate your company, your services, and/or your products to
prospects who are knowledgeable about your competitors?
6. Do you know exactly how you compare to
your competition in terms of: the quality of your products/services,
prices, and amount of selection?
7. Do you have a written business or marketing
plan that includes: a SWOT analysis, competitive information, your unique
competitive advantages, specific marketing strategies with timelines,
financial projections, and contingency plans?
8. Do you have sufficient capital currently available to carry your business through the next 18 to 22
months (for start-ups) or at least the next 6 to 9 months (for
established small businesses)—in case of an economic recession, lack of
results from sales and marketing plans, or a short-term physical
9. Do you know the average percentage of
your revenues you are currently spending (or anticipate spending) in each
of these categories: all marketing materials, sales efforts, office
equipment and supplies, ongoing marketing campaigns?
10. Are you currently using at least 3
different marketing strategies effectively to find new clients (not
including any referral sources)?
11. Do you have all the necessary sales and
marketing materials you need to give to prospects including: marketing
brochure that focuses on the benefits of your services/products, sales
sheets, detailed product information, company overview, website and
12. Are you able to describe the different
stages prospects use in moving from not knowing about your business to
becoming a first time client?
13. Have you identified the most common
objections you hear from prospects and have you memorized strong, non-defensive
responses to each one?
14. Can you clearly answer this question if
asked by a prospect today, “What are the specific benefits and results I
would receive from using your services or products.”?
15. Have you memorized a compelling
response to this question, “What do you do?”
16. Are you fully using the power of
internet marketing, to reach out to new prospects, track your marketing
efforts, keep in touch with your clients, and upsell your current
17. Have the net profits from your business
increased at least 20 to 40% in each of the last 2 years?
18. Do you have a list of at least 50 to
100 people who you can tell about your new company and ask them to refer
people to you?
19. Have you developed strong relationships
with several other companies who offer non-competitive products or
services to your ideal target market with whom you could arrange a
20. Do you have a compelling reason to tell
prospects who ask you, “I have a lot of companies offering me these
services. Why should I buy from you?”