Ever seen a marketing plan with SWOT analysis included? It may have confused you a bit. You may not see the importance of doing an entire analysis just for marketing. But here’s the thing: by not including SWOT analysis into your marketing plan, you’re setting yourself up for failure. The analysis helps you understand the crucial internal and external elements that will … [Read more...] about Should You Use SWOT Analysis in Your Marketing Plan?
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
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
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
It’s a new year for your business! You want to have a strong start, don’t you? Here’s the thing: You need a plan. And not just a marketing or business plan (I’m sure you have both and if not, here’s what you should know). You need a system most of your competition won’t even think about. It’s called PEST analysis. It’s as long as those capital letters and unveils a host of … [Read more...] about Use PEST Analysis to Kick off This Business Year With a Bang
Business owners use PEST analysis because it’s a simple but effective strategic tool… if done correctly. Otherwise, it’s a time-suck that provides no actual benefits. You can say you’ve finished one, but unless you can use the information from the analysis to propel your business, there’s no point in putting in all that effort. You shouldn’t waste any of your valuable time. … [Read more...] about Are You Doing Your PEST Analysis Correctly?
You probably heard about SWOT analysis, that strategic tool used to identify Strengths, Weaknesses, Opportunities, and Threats for products, ventures, or businesses. With SWOT, companies can dive deep into their offerings and figure out the most effective way to plan, position, and execute processes or ideas. The information unlocked through the analysis is essential for all … [Read more...] about SWOT Analysis For New Business Planning
What does your five-year business plan look like? Or your ten-year plan? It likely involves growth. Whether it’s the expansion of a product line or opening stores in new locations, business changes need proper preparation. And that’s where PEST analysis comes in. PEST analysis is the foolproof plan for business expansion Both new business owners and veterans should include … [Read more...] about This is Why PEST Analysis Is Important For Every Business
Businesses use strategic planning as a necessary tool for all decisions made. Deciding to launch a new product or to expand an internal team should be based on research. And that investigation comes from analysis. Resource analysis is another way firms understand an organization's competencies and the value of resources. Considering resources are necessary for business … [Read more...] about Why Companies Need to Do Resource Analysis for Success