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:
Do you know how to set up the right prices for your products and services? Price for which you will sell your products or services is one of the most important factors of your business success.
You can have a great sales process, you can have a big amount of customers, make a big amount of income, but your business to not make a profit. The biggest reason for this is a wrong price of the products or services you have set up.
In the world of entrepreneurship, entrepreneurs must continuously search ways how to improve their business. These efforts related to business improvements will be around 90% of the activities of an entrepreneur.
However, business improvements and changes are something that is constant in the business world. Here, I want to give you one introduction to the process of continuous business improvements with the help of the business potential energy technique.
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 a different stages of the business life cycle.
So, you need to use the stages of the business life cycle to describe some business elements in correlation of the business potential energy and business performance.
This will be the series of different articles from different sources on the internet for the previous week. Every week on Monday I will present the best articles that every entrepreneur must read from the previous week. Now the previous week is 32nd week from year 2009. Let’s see it:
- 5 Steps to Building a Successful Niche Business on Entrepreneur.com. Explain 5 steps that you must read to build successful niche business:
- 8 Franchise Ownership Myths on Entrepreneur.com will explain you 8 different myths that will help you evaluate whether buying a franchise is right for you.
- Top 5 Business Lessons for Entrepreneurs, Interview with the Sabrina Parsons, CEO of Palo Alto Software on Shetakesontheworld.net.
- An 18 Minute Plan for Managing Your Day on Blogs.harvardbusiness.org gives three steps that take less than 18 minutes over an eight-hour workday to create a plan for managing your day.
After a series of three posts related to this topic where you can read about the basics of sales funnel, sales funnel improvements and sales funnel metrics, I want to share a sales funnel template that you can use to plan the sales and marketing activities that will change the metrics of the funnel itself.