2.10 Summary

In this section you have:

• articulated your business idea and how it fits with your rural lifestyle
• set your SMART business goals for the next three to five years
• considered the most suitable company structure
• completed a mini-STEEP
• identified the stakeholders for your business and their strength of influence
• gained an understanding of your competitive environment through Porter’s five forces model
• reviewed the process of strategy formation and outlined the strategic options for your business.

Now open your BPPR (or download the template [Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)] ) and reflect on the activities completed in this section. Review the output from each activity and complete the three questions raised in Section 1 of the BPPR, which require you to pull out the most important aspects of your thinking to date.