In the section “How to conduct your business” on Entrepreneur-Pro there is an article “How to research and segment the market?”. They said from a practical point of view how to study the market, what needs to be learned and how to determine your target audience. In this article we will talk more about the importance of market research and about the answers to which questions you should receive.
First, let’s figure out what a market is. Continue reading
Copying a business is a really powerful tool for creating a truly solid business. And let them say that this is bad, that originality and creativity are valued higher, that copying a business is inefficient, etc. More than 95% of fundamentally new businesses fail. Yes, there will be those who shoot, of course. But their number as a percentage of the number of attempts is negligible. And that is a fact.
Starting a business in a non-existent niche is not a business risk, it is just a hope that maybe you will be lucky. Continue reading
If you are an entrepreneur, then you simply have to constantly ask yourself the same question – how to increase profits? Profit – this is business. The whole point of the business is to increase profits. I don’t know other reasons for doing business. Whoever says anything. There are only five ways to increase profit in business, according to business expert Paul Lambert (the so-called Formula Five). Further we will consider them.
5 ways to increase profits Continue reading
SWOT analysis is a very important tool for opening, planning and running a business, respectively, and the question “how to do SWOT analysis” is of particular importance in the life of an entrepreneur. We’ll talk about how to do SWOT analysis today. Rather, we will develop such a step-by-step instruction – a questionnaire, after which the very question (how to do SWOT analysis?) Will be completely closed for you.
First, let’s look at what a SWOT analysis is (I apologize in advance to those for whom this is unnecessary). Continue reading
Analysis of the industry is not only an important step in opening your own business, but also an important tool for conducting and developing your own business. Indeed, making an analysis of the industry (and its own business, in particular), the entrepreneur clearly understands where and in what needs to be added, and in which he is ahead of the competition. It helps a lot to make the right decisions, agree. And making the right decisions is the main task of a successful entrepreneur. So let’s look at how to do the same industry analysis. Continue reading