Category: BUSINESS STUDIES

No Matter What, Write a Business Plan

  The new year is here.  Many aspiring entrepreneurs are planning to start a business in 2018.  Some would like a brick-and-mortar business while others would prefer an online business.  More and more would-be businessmen are considering e-commerce particularly the dropshipping kind. There is nothing like having your own business.  The challenge, excitement, risk-taking, and…

Marketing: How Should Entrepreneurs Approach It?

  I met on several occasions startups and small business operators who seemed a bit confused about what marketing really means.  Some considered it as simply promoting or advertising a product.  Several understood it as selling a product.  I believe this can be expected particularly if you are talking about businessmen who had a purely…

Marketing Strategy: What Are the Important Data to Consider?

  The foundation of a workable and effective marketing strategy is the type and quality of data you consider in making an analysis, evaluation, and conclusion about your target market, competition, and value proposition. As a startup or a growing business, you should gather demographic and psychographic data about your target market, and data about…

Crucial Elements of a Successful Marketing Strategy

Marketing strategy is your systematic, organized, and purposeful set of activities intended to achieve your marketing objectives in relation to your overall business goals.  Marketing strategy empowers you to boost sales, increase market share, tap new markets, and build a strong brand as well as other specific marketing objectives you want to attain. A marketing…

Market Study: Improving the Chances of Startup Success

In a recent article, I mentioned that one of the top reasons for startup failure is creating a product or service that nobody needs.  A lot of problems and significant costs could have been avoided if startups had conducted a market study prior to launching their business. A market study is a research and analysis…

Is Your Business Startup Bound To Fail?

The easiest part in starting a business is coming up with a business idea.  Taking your idea from the business concept stage up to business operation stage entails formidable challenges.  A founder’s inability to face up to these business startup challenges will result in costly failure. Let us take a look at the three most…

Don’t Start That Business Yet

Not until you have a clear business concept. What is a business concept? It is an idea for a business. It can be an idea for an entirely new product or service of a startup business or it can be an improvement or expansion of an existing business.  Whatever your business concept is, it should…

Can Social Media Really Help In Customer Acquisition?

As almost everyone knows, use of social media in marketing has been growing. Billions are using social media. Content is key Social media practitioners all know that content is important.  In fact, it is crucial. Some may argue that search engine optimization (SEO) is more important. Maybe. But content with the most relevant keywords is…