If you don’t have a business plan, especially one with PESTLE analysis included, you’re going to want one after reading this. Here you’ll find the answers to what PESTLE analysis is and how it’s used in companies by business owners, marketers, and business analysts. Plus where PESTLE analysis information should be placed in your business plan (and if you don’t have one, where … [Read more...] about Where Does PESTLE Analysis Fit Into Your Business Plan
Every entrepreneur knows or at least should know, that the very act of starting a business means taking a risk. Even when you position yourself on a relatively stable market, have all your papers in order, and take the right precautions, your business can be affected by physical, technological, human or location risks. However, in addition to these main risk types that are part … [Read more...] about How to identify and manage business risks
Should you use business analysis in marketing? Is it valuable or just a waste of time? Marketing is an expensive but crucial aspect for any business, regardless of size or industry. If something goes wrong, you can be out thousands of dollars in as little as an hour! Business analysis helps you understand pitfalls and plot holes in your business before it’s too late. But … [Read more...] about Should You Use Business Analysis in Marketing?
Do you have a business exit strategy? Was it included in your business plan? Or now you’re looking to make a graceful exit from your business and you’re not sure where to start? I’ve got you covered. In this article you’ll find out: What a business exit strategy is The common type of exit strategies A brief introduction to liquidity Which strategy is best for … [Read more...] about Why All Business Owners Should Have a Business Exit Strategy
A business plan is a document all about your company. A typical plan outlines the mission statement, operations, marketing strategies, financials, and executive summary. A business plan is non-negotiable. If you have a business — even if you’re just getting started or a one-person show — you need to have a business plan. Even if it’ll never reach the eyes of another soul, the … [Read more...] about Why Look at Business Plan Samples Before Writing a Business Plan
Being an entrepreneur can often be stressful, and while you have managed to bring your brand into the market, you might currently be struggling from a financial point of view, and monetary support may be required to keep your business going, or to obtain growth. Regardless of the exact purpose you currently need financing for, applying for a loan is the solution you should … [Read more...] about How to secure financing as a small business owner
Here’s the truth: Every business needs a business plan. There are no exceptions. A business plan serves as a document that outlines who the business is, why it exists, and how it expects to increase success in the short and long term. It’s also a handy directional guideline outlining your major goals, accomplishments, and details about your company — all in one easy to digest … [Read more...] about How to Make a Business Plan for Any Business
There are loads of business analysis tools out there, but the PESTEL model, also called PESTEL analysis, is one of our favorites. The PESTEL model is a type of PEST analysis which considers six crucial business factors. The six categories are: Political Economic Sociocultural Technological Environmental Legal Although it may seem simple at first sight, … [Read more...] about What Is the PESTEL Model for Business Analysis?
Macro environment analysis is a fantastic business analysis tool for getting a better grasp of the greater business environment in which you operate. As we explained in another post, the macro environment itself is the broader business environment across all markets and industries — especially referring to the national or international economy. Before you can dive into your … [Read more...] about 7 Crucial Macro Environment Factors to Include in Your Analysis
In one of our recent posts, we introduced you to the concept of the macro environment: the broader business environment affecting all markets and industries. In this article, we're going to walk you through some real-world examples of the macro environment — but first, let's review the factors affecting the macro environment. Example Factors in the Macro Environment As we … [Read more...] about Macro Environment Examples in the Real World