Nothing stops a small business from using internal and external information sources to improve their business performance. In this post, we explore on the types of data available internally and from the internet which can be used for business improvements. Understanding data types is important for SMBs to understand the information contained in them which can be leveraged to improve…
Though business strategies alter in terms of scope and length, every successful business strategies contain common components. The strategy must take into account your specific business along with its environment. Below are certain sections that you can include in your business strategy: 1. Executive Summary The executive summary is a sketch of the main points incorporated in your business strategy…
Is becoming an entrepreneur your dream? Are you flooded with business ideas? Are you passionate about starting your own business? Then hold on, and think once again. In this competitive world, where about 100 million start-ups launch every year, make sure your business idea fits in the market. The ultimate aim of any business is to generate revenue. The foremost…
Before worrying about getting investors for your business or building a business plan, it is vital to focus on a solid business idea. If you want to start a new business or grow an existing establishment, then you don’t just need money but ideas also. To develop a successful enterprise, it is vital to focus on the concept of the…
In case the sales appointment has been successful and the customer is found to be interested, closing the deal could be easy. Besides, eventually, you may understand that the customer is doubtful to ever affirm a deal. Nevertheless, at times the customer is not sure or maybe doubtful about making a big order. This can be understood, as they might…
A lot of business owners, be it small or large scale businesses, are hesitant to enter into business partnerships, as they believe it to be the kiss of death! But this is a myth and if done right, business partnerships can be highly profitable for the company involved. A partnership in business is a certain type of legal agreement that…
In this vast and burgeoning business world where big brands take the centre stage, small businesses face the challenge of keeping up with them. It can seem like an uphill road when you’re trying to compete with the bulk purchasing power and big marketing budgets of big businesses. It can be frustrating, making you want to give up on your…
Starting and sustaining as a small business is actually cumbersome in today’s tough economy landscape. Do you know there are only 50% of the startups that could survive for 5 years and only a few of them could make it to the top 10? This graph manifests how grueling and difficult it is to survive and sustain in today’s world.…
The Crisis Survey by PwC’s conducted in 2019 states that there have been at least seven leaders out of ten that have experienced corporate crises leading to their businesses in shambles in half the decade. Companies that have an employee count of more than 5000 will have more than 5 crisis in five years. Although the business executives mess up…