Here are articles that will help you to become a successful entrepreneur.

Entrepreneurial Skills as a Source of Business Potential Energy

In the previous blog post related to managerial skills, I have described skills as knowledge to do some activities or tasks. Managerial skills are knowledge needed to do managerial activities or tasks. On the other hand, entrepreneurial skills are knowledge to do entrepreneurial activities or tasks.

Entrepreneurial skills are the third business element that we talk about in the 10 basic business elements with business potential energy.

Efficiency and Effectiveness Matrix

efficiency and effectiveness matrix

Many times in the business world, you can hear terms like efficiency and effectiveness. Sometimes when we say efficiency, we think of both efficiency and effectiveness. Let’s look through the efficiency and effectiveness matrix to see what exactly they mean for you and your company.

The words “efficiency” and “effectiveness” are mutually dependent. It’s not enough to be only effective without being efficient or to be efficient without being effective at the same time.

These two elements of the business can drastically increase your business’s potential energy. At the same time, you, as an entrepreneur, and your business must be efficient and effective.

Business Intelligence as a Process

enter in the new industry - industry analysis
There are too many articles and theories about business intelligence that look in business intelligence as an IT tool and only IT tool. But, it is not only that. Let’s see what means when you see business intelligence as a process.

Because of that you can find many different definitions that define business intelligence as an application that will perform some analytics activities for your business. Another issue that I found at existing theories is that all tools focusing only on the analytics of internal factors available inside company. Because of that there are some missing elements:

How to Maintain High Performance at All Stages of Business Life Cycle

business life cycle performace

In previous posts about the business potential energy, I write that the methodology of business improvements must contain the business life cycles. It is important because we have different business elements with different business potential energy in different business life cycle stages.

So, you need to use these stages to describe some business elements in correlation with the business potential energy and business performance.

Improve Your Business Performances With ABC Analysis or 80/20 Rule

How to Use ABC Analysis to Improve Business Performances

Do you want to improve your business performance drastically? Probably the answer is yes. So, you will need to use ABC analysis or sometimes called as 80/20 rule. What is ABC analysis?

ABC analysis is a methodology that can give you a quick and simple review of your range of products in the retail store, wholesale, or manufacturing company.