Are you increasing your market share?
This tells you whether your strategy is working and how strong you are versus your competition. Too often companies are growing because they are in a strong market or because of acquisitions. In reality, they are turning over clients and losing market share to the competition but they are not recognizing it. If market share is increasing, you know you have a good strategy. Particularly if a large percentage of your sales are ideal customers in your target market. If your answer is “no,” it is time to make changes or expect more of the same. Companies that ignored these signals got hit hardest when the economy turned and are having the most difficulty recovering.
This is an explanation from question #5 from my article “12 Questions You Need To Ask Constantly.”