Understanding where you are now, your strengths and weaknesses within the business, and your external opportunities and threats, is often referred to as situational analysis, and the easiest way to do this is with a classic SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis.

You can get more from this exercise if you do it with your team, because they often see factors that you may not when running a business. It also makes them feel engaged and involved in the solution.

There is plenty of evidence* that an engaged team will take more ownership of the resultant plan and will be more productive as a result. This has never been more important than now, when we have to achieve more with less.

*http://engageforsuccess.org/wp-content/uploads/2015/08/file52215.pdf