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Archive - 2018

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1
Entrepreneur? Or Hardworking Employee Of Your Own Business?
2
Starting Your Own Business? Here’s What To Do First
3
How To Deal With A Giant Competitor
4
The Power Of The SWOT Analysis
5
Why Do You Need A Business Plan?

Entrepreneur? Or Hardworking Employee Of Your Own Business?

Are you thinking of starting your own business?

Perhaps you’re a subject-matter expert and you have an idea about how your knowledge can help others?

You may even e running a young small business, maybe less than 4 or 5 years old?

The thought of being an entrepreneur is motivating and exciting – ut many who start out to be an entrepreneur end up just working very hard as an employee in their own business. How do you make sure that you become the entrepreneur you started out to be?

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Starting Your Own Business? Here’s What To Do First

Are you thinking of starting your own business?

Exciting times! Let me congratulate you on deciding to take your future into your own hands!

It is an exciting – and also a little frightening – experience as you work out what to do and where you want to go and how to start. What’s the first thing to do?

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How To Deal With A Giant Competitor

Do you feel the fear trickling down your spine when you hear “Amazon”?

Does your business have a similar industry giant coming to town and you’re wondering how it’s going to affect your business?

These big boys really can shift tectonic plates in the marketing world, but you shouldn’t panic – you should get ready.

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The Power Of The SWOT Analysis

One of the most powerful tools you can use in planning is called the SWOT Analysis.

SWOT stands for strengths, weaknesses, opportunities, and threats. The tool analyses what strengths and weaknesses your business has, and what opportunities and threats may arise.

But many people use it imperfectly and do not harness the full power of the SWOT Analysis. So, how should you use it during a planning exercise to ensure that its powerful advantages are fully utilised?

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Why Do You Need A Business Plan?

In my 35 year career, I have only known a handful of small business owners who have prepared a business plan.

I find this astounding.

You would not leave the house to go shopping without some sort of plan – even if only in your head – about where you are going, where you would look to park the car, what you will wear with one eye on the weather, what you will buy, and how you will pay for it. Without this, how would you know whether to turn right or left at the end of your driveway?

Yet people start their businesses and run them for several years without thinking the journey through! Even worse, some people would read my example of the shopping trip and say “I’m just like that – I have it all in my head, that’s good enough.” Really? You are going to invest thousands and years into your business and you think it’s enough to have a thought kept in your head?

If you own an emerging business, relatively new, maybe 5 or 6 years old or so, and you are finding that you work hard every day but not seeming to get anywhere – if you find that for the last few years you have tried one idea before thinking of another and switching but not getting any co-ordinated growth forwards, how’s that undocumented “thought” working for you?

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