Every business is based on assumptions - many remain unstated and untested. This is a business strategy workshop that you can try yourself. Allow 90 minutes and make sure you record it. (NB: This is for education purposes only - this does NOT constitute advice.)

1. THE
HIGH SPEED
STRATEGIC AUDIT
ANDREW PRIESTLEY

2. A GREAT IDEA
• Most business owners start
with an idea for a business
which they assume will
work.
• FACT: 80% of startups fail
within the first 12 months

3. HIGH SPEED STRATEGY
• Youcan perform a focused
90 minute high speed strategic
audit.
• Here’s8 of the top factors that WILL
impact the success of your business.
• Allocate90 minutes and try answer
these 8 questions in detail.
• Record the session.
• Refer to the tips and case study
slides if you need help.

4. WHAT WE LOOK FOR
Set aside 90 minutes to get CLEAR and DETAILED answers to these 8 questions
1. How clear is 2. What problem is our
our business idea? customer trying to solve?
3. Who exactly is on our 4. How do we know there is
operating team? a market for our idea?
6. How do we know our
5. What do we actually sell?
business is worth doing?
7. What infrastructure 8. What systems and
is actually required? processes are critical to the
success of our business?

5. IS IT CLEAR?
• Tip: You business idea or concept
has to be super clear.
• Try this: use your phone’s voice
recorder and just talk about your
business idea. Explain what your idea
is as clearly as you can. Then listen
back to it. How does it sound to
you?
• Case study: a client had an idea
for selling cheap superseded mobile
phones handsets ... but if was unclear
if the business was reselling
hardware ... or mobile banking!

6. WHAT’S THE REAL PROBLEM?
• Be very clear about the problem
your client is really trying to
solve. You might have a great
solution ... that customers just
don’t value.
• Try this: ask your clients,
“What’s your biggest concern or
frustration?”
• Case Study: I coach owner/
managers. Do they want to be a
great boss, a more profitable
business ... or reliable staff?

7. HAVE I GOT A TEAM?
• Everybody needs a ‘dream
team’. No one succeeds on
their own. NB: They don’t have
to be on the payroll.
• Try this: ask yourself: Who is
supporting me? Who helps me
get eh job done? Make a list.
• Case Study: A sole trader
did a mind map of everyone
connected to his business.
It totalled 123 people!

8. HAVE I GOT A MARKET?
• Who is your preferred customer
- exactly? How do you reach
them? How do you know there is
a market for your idea? Are you
clear on the problem they need
solving?
• Try this: Ask.
• Case Study: A client talked to
over 700 businesses BEFORE
going to market. This research
identified three clear problems
which they now solve - globally!

9. WHAT DO YOU SELL?
• The biggest mistake is only having
one product or service.
• Try this: Imagine if your products
and services were available at three
prices - low cost, medium and higher
cost.
• Case Study: A personal trainer
went from one product - $45p/hour
to offering free sessions, low cost
group sessions, medium cost 121
goal/injury sessions and high cost elite
training. He is now licensing his
proven business model to other PTs.

10. IS IT WORTH DOING?
• You might have a great idea,
customers and products ... but it is not
projected to make enough money.
• Try this: Write down your annual
turnover target, and the unit cost of
your products and tell me how many
you have to sell to hit your target.
• Case Study: A marine specialist
worked out the more business he got
the more broke he would end up.
His success depended on the
purchase or leasing of very expensive
equipment.

11. CAN I DELIVER IT?
• This section is about the infrastructure
for getting your products and services
into the hands of customers. This can be
simple (F2F, delivery van) or very
sophisticated (logistics network, web
platform e-commerce site).
• Try this: Talk to the phone again.
Describe how you deliver your products
and services to customers. What’s
• ‘If your business needs a truck and
needed? you don’t have one, you don’t have a
business.’ Noel Whitakker Money Expert
• Case Study: A client proposed a
website for struggling artists to sell their
artwork. She soon realised this required
24/7 - 365 IT support ... which she didn’t
have (or could afford).

12. SYSTEMS AND PROCESSES
• Every business has a system ...
even if you don’t think you have
one.
• Try this: Talk to the phone
again. Walk me through a sale or
the delivery of a product or
service in detail.
• Case Study: McDonalds is
built on 14.9 year olds
understanding how to operate
complex food systems.

13. If you need help, a session or information
highspeedstrategy@hotmail.com
You should also visit our business turnaround website
www.successin80days.com
NOTE: For education purposes only - this does NOT constitute advice. Full Terms and Conditions available at the website.