Your business environment

The conditions are the environment within which your company can grow. They are things you can’t change, but you can sometimes exploit. The main reason to pay attention is because these things change. You’ll obviously pay attention more closely when they’re in flux. But otherwise, it’s a good idea to schedule a yearly or semi-annual review. These topics are very specific to your individual situation so I can say all that’s needed right here. 

• Market Conditions. You’ll be paying attention to this in your marketing work so not much else needs to be said.  
• Competition. Don’t get distracted by what the competition is doing. If they have some good ideas, go ahead and steal incorporate them but generally you do better by focusing on customers than on competitors. 
• Community Pay attention to the social norms in your community.
• Economic Trends – both macro and local.
• Laws and Regulations These can be a road block but also a moat
• Technology Tech is important in two ways. It can enhance your workflows and be part of your organizational design. And it can revolutionize your offering. Think of Uber – it’s basically a taxi service that couldn’t happen until tech evolved and old school taxis missed out.