Business Management
Define your business 8 – Key resources
July 22, 2016These are strategic resources your business requires in place and in a better position than your competition. At the end of this exercise, you should have a list of key resources that are directly linked to your key activities in business. Be sure to fill in your results on your business model canvas, link the […]
Read More
Ways to brand your company…
July 22, 2016Your brand sets your business apart from competition, it lets your customers know what to expect from you at all times.To build a brand,you need a target audience ,one that is large enough to sustain the business (discover your customer segments here https://biznessvirgins.blogspot.com.ng/2016/05/business-workshop-define-your-business.html) Branding is important to manage the effect your business has on a […]
Read More
Define your business(7)- Key activities
July 21, 2016Its important to identify the vital aspects your business requires to deliver its value propositions as well as make other operations within the business work.This varies for different businesses ; it might involve understanding the users of your products so you can constantly improve on it, providing a reliable maintenance service,providing exceptional expertise,creating new products […]
Read More
Work life balance in business
June 23, 2016photo credit: www.catholicmoms.com Running a micro,small or medium scale enterprise (MSME) can be daunting and demanding.With bills to pay and responsibilities to take care of, maintaining a work life balance may seem impossible. However, business owners need to remember that the overall performance of their businesses is dependent on their mental and physical health as […]
Read More
Define your business 6 – Revenue streams
June 21, 2016photo credit: www.wynnesystems.com The sole aim of every business is to make profit.This exercise is to enable you understand how your business makes money from offering its value proposition(s) to the customer segment(s)list out your revenue streams (revenue streams are the various sources of income within your business) , connect them to the customer segment(s) […]
Read More
Important tips for product packaging
June 20, 2016photo credit: www.buzzfeed.com It is very important that startup companies get their product packaging right, good product packaging is able to boost the brand power of a product and poor packaging can as well have a negative dramatic effect . Entrepreneurs need to consciously and strategically invest time ,energy and resources on developing product that […]
Read More
Business Clinic – Dealing with Cash flow problems in business.
June 15, 2016photo credit : www.newslocker.com When a business is experiencing problems,it is very important to drill down to the root cause ,this provides the important information required to take adequate decisions. Cash flow (find the definition of cash flow here https://biznessvirgins.blogspot.com.ng/2016/06/understand-basic-business-terms-3.html) is one of the important elements in business,when the cash flow within a business in […]
Read More
Cost management tips for SMEs (1)
June 9, 2016photo credit: www.youthvillage.co.za – Have a cash management system that works; SMEs trade with limited funds.it is therefore vital that cash turnover is gauged based on cash available within the business,frequency of trade,profit margins and monthly costs within the business. SMEs are advised to avoid credit sales and in cases where credit sales can not […]
Read More
SWOT Analysis (2)
June 9, 2016photo credit : www.health.state.mn.us This is the second and concluding post on SWOT Analysis (find SWOT Analysis (1) here: https://biznessvirgins.blogspot.com.ng/2016/06/swot-analysis-1.html ) This post is aimed identifying at identifying opportunities and threats that affect your business. Opportunities and threats are external to your company and answering the questions that follow should be helpful in determining them. OPPORTUNITIES-what […]
Read More
SWOT Analysis (1)
June 8, 2016photo credit: www.health.state.mn.us SWOT analysis is the acronym for a framework that allows you identify the strengths and weaknesses within your business as well as opportunities and threats in your external environment.The S is for strengths,W for weakness,O for opportunities and T for threats. Strengths and weaknesses are internal to your company while opportunities and […]
Read More