(1) Your Customers » Utmost, get to know your customers.  If you don't know your customers – you don't know anything!  Learn who they are, where they live and what they live for.  What they buy, when, where, how, how much, how often, and most importantly 'why' they choose one option over another.

(2) Your Competitors » Investigate your rivals to determine how each is positioned in the market, their strengths, their weaknesses, their vulnerabilities, and why some people choose them and why some do not.

(3) Your Company » Take an honest, objective look at yourself to discover your own advantages and deficiencies.  Is there potentially something you can offer better than any other company that a particular group of people (your target market) desire?  Is there any reason people might not buy from you that you need to effectively deal with, such as quality, price, selection, service, awareness, credibility, etc.

(4) Your Conditions » Research any environmental factors that could affect your business for better or for worse: such as social, cultural, political, governmental, regulatory, economic, technological, etc.  You may unearth obstacles that need to be overcome or opportunities you can seize.

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