Business Planning

Find all articles related to business planning to help you prepare and execute your business plan. Start planning now and make your dream a reality. You can start with the following articles:

  1. Business Plan Mindmap
  2. How to Build Your Own Business Plan Template
  3. Risk Management Process as a Part of Your Business Plan
  4. How to Measure Business Plan Implementation Results?
  5. 30 Things You Can Do With Your Business Plan

22 Competitive Analysis Questions to Beat Your Competitors

22 Questions You Need to Answer For Your Competitors

Each entrepreneur wants his business to be alone in the market without competition. But, it is an unrealistic and probably unachievable situation, at least for a more extended period, to operate without competitors.

You cannot avoid competition, regardless of the size of the business or industry and the market in which it operates. Even if there is no competition currently, it doesn’t mean it will last forever and will not appear shortly.

You should not be afraid of competition. But, you must implement a strategic and systematic approach to analyzing your competition. After analysis, you will need to use that knowledge in your daily business operations and management of your own business.

If you ignore your competition, you will have real problems manifested through declining market share, lower total sales volume, a decline in the number of customers, and the most significant problems as cash-flow problems. These problems will destroy your business. The fact is that you can not allow yourself to ignore such possible problems.

Because of that, here are the important questions to ask about competitors. Using these questions, you can easily conduct a comprehensive competitive analysis that can be part of your market research and make informed decisions for your small business.

Uncovering Hidden Risks: A Comprehensive Guide to Business Plan Risk Analysis

Risk Management Process - Business Plan

A modern business plan that will lead your business on the road to success must have another critical element. That element is a part where you will need to cover possible risks related to your small business. So, you need to focus on managing risk and use risk management processes if you want to succeed as an entrepreneur.

How can you manage risks?

You can always plan and predict future things in a certain way that will happen, but your impact is not always in your hands. There are many external factors when it comes to the business world. They will always influence the realization of your plans. Not only the realization but also the results you will achieve in implementing the specific plan. Because of that, you need to look at these factors through the prism of the risk if you want to implement an appropriate management process while implementing your business plan.

The Future of Shopify: Trends and Predictions

The Future of Shopify

In the vast realm of eCommerce, Shopify has emerged as a household name, with over 4.4 million websites relying on its services. The platform has grown significantly in recent years thanks to online shopping becoming more widespread and convenient, and it is expected to keep growing in the future.

In this blog post, we’ll discuss the emerging Shopify development trend and provide insightful predictions for the future of the platform.

Surefire Tips to Run a Digital Marketing Agency Remotely

Surefire Tips to Run a Digital Marketing Agency Remotely

Starting a digital marketing agency is a viable business idea because the demand in the domain is ever-increasing. You will probably never fall short of clients because every organization needs to build a robust online presence these days. Moreover, most companies prefer outsourcing them from an agency instead of hiring an in-house team for the job because the model is far more convenient and cost-effective. Not surprisingly, entrepreneurs are keen to make the most of this lucrative opportunity.

The great thing is that you can launch and run a digital marketing agency remotely without much hassle and a massive investment. It can save infrastructure and space and provide the flexibility to work with clients across diverse locations. But you may have some qualms about starting a business remotely because of the inherent challenges of the model. However, you can make the most of it by planning your launch wisely and executing well. Here are a few surefire tips to succeed with the remote model.

How to Design a Business Model for a Startup

How to Design a Business Model for a Startup

The design phase of a startup is the most challenging and important. It’s crucial to understand how to design a business model. Most businesses fail because they can’t create a proper model.

The most important thing about building a startup is understanding how to build a business model. To do this, you have to think about how your customers could use your product and how they will be affected by each option.

Before starting the development of a digital startup, it’s vital to define how it will make money. The way you generate profit through a new product is defined by its business model. Here you will learn the best product design practices for outlining a winning business model for a startup.