Business, Small Business, Start ups, Home Business, Family Business, Online Business,
How to decide what business to start: starting your own business requires that you decide what business you want to start, an obvious step, yet many entrepreneurs spend too much time trying to make a decision. See Top 50 Business Ideas. But, without some sort of guidance, this process can become a “never ending” task …
A valuable tool of financial statement analysis is known as ratio analysis. A ratio is a mathematical expression of the relationship of one figure to another. Business ratios are also a crucial part of Business Planning. Below, we’ll be looking at the calculation and significance of the most important financial ratios. SIGNIFICANCE OF RATIOS There …
Go over your business plan and see if you need to change your plan to suit the conditions prevailing at that particular time. Goals and Tracking Capacity Customers and Service Marketing and Positioning Quality Pricing, Costs and Profits Remember, business planning is an ongoing business activity. You need to regularly review and revise your business …
Human Resources (HR), is a crucial part of any business plan. The ability of your business to reach its objectives is linked to the effective management of your people. The people who work for you are your most important asset responsible for: – Achieving your financial goals – Achieving your production goals – Increasing opportunities …
A well prepared business plan is essential throughout the life of your business, not just before you start. You will need it later on to guide your focus, to prepare for expanding the business or to help implement new directions, technologies. or products. Before starting your business, a business plan will ensure that the business …
A Marketing Plan is an important part of the Business Plan of a business. It covers marketing and promotions, selling strategies, pricing, distribution channels and results. In addition to the steps shown below, you can access this Marketing Checklist (Market Research and Marketing Plan). The link between your marketing plan and the resulting business plan …
MARKETING CHECKLIST (Market Research and Marketing Plan) * Define Your Market – Who are your present customers? – Who are your potential customers? – Who are your major customers? – What are their buying motives? * Define The Size The Market, considering both: – The Local and Global market. * Define The Competition – Who …
A key feature of a SWOT Analysis and Action Plan is to show how you will take advantage of opportunities and strengths, overcome weaknesses and head off threats. The SWOT analysis should be included in your business plan together with financial, marketing, distribution, operational and administrative issues that will ultimately make the overall business operate …
A business feasibility study is crucial before you start any new venture. It is the study you need to do before doing a SWOT analysis and action plan. And definitely before writing a business plan. It is a necessary step of fact-finding to assess the potential of your concept for a small business. If the …
How To Create A Feasibility Study For Your Business Read More »
Following the 10 Steps listed below, will help you stay focused and on track as you go through the process of starting a business.
