Quite often, we don’t give our business the depth of thought and analysis that it really deserves. Sure, we will think hard about our product and how well we can fit it in with the market, maybe even consider the competition for a bit. However, how often do we think fully about our weaknesses and opportunities? How often do we think about our threats? The biggest trap in … [Read more...] about 3 Tips for a Better Swot Analysis of Your Business
An entrepreneur should be ready to face different challenges head-on with a well-thought out plan. The market is in a constant state of flux, and your competitors are always thinking of something to get more of the market share. You need to map out strategies that could help your business get ahead of the competition an attain success. You need to take time to understand … [Read more...] about Do You Know the Strengths and Weaknesses of Your Business?
Regardless of how you are traveling, you won't get very far without knowing where you are going. That a Business Vision is needed to provide strategic focus in a business, is almost self-evident. But it is also important that you understand where your business is coming from. The current state of your business is an integral part of your business strategy. If it isn't … [Read more...] about How a SWOT Analysis Can Benefit Your Small Business
When conducting strategic planning for any company - online and/or offline - it is useful to complete an analysis that takes into account not only your own business, but your competitor's businesses and the current business environment as well. SWOT analysis is one such example. Completing a SWOT analysis helps you identify ways to minimize the affect of weaknesses in … [Read more...] about SWOT Analysis for Small Business
How is business? It is the superficial question many people ask business owners in lieu of the standard how are you . Few really care about or even listen to your response because they know it is just meaningless chit-chat. But do you really know how your business is performing? Meaning more than just sales growth or profitability trends. Have you ever done an in-depth … [Read more...] about How to Analyze the Performance of Your Business