AI Is No Longer Just a Tool—It’s Becoming a Collaborator. From Digital Assistants to Machines That Operate in the Physical World, We’re Entering a New Era. Understanding This Evolution Is Key to Staying Competitive as Automation Reshapes the Business World.
The Evolution of AI Use: From Tools to Agents — and What Comes Next Read More »
Running a Business Is a Lot Like Taking off and Flying an Airplane—Everything Has to Work Together to Achieve Take Off, Stay In the Air, and Reach Your Destination. This Analogy Breaks Down Complex Business Concepts Into a Simple, Engaging Framework That Will Help You Navigate Entrepreneurship With Confidence.
6 Ways An Airplane Is Like a Business Read More »
Break Free From Outdated Industry Norms by Using First Principles Thinking; a Powerful Approach to Deconstruct Assumptions, Uncover Hidden Opportunities, and Build Smarter, More Innovative Solutions.
Rethinking Business Models With First Principles Thinking Read More »
Starting My First Business With Invisible Fencing Taught Me the Tough Realities of Creating a New Market. In This Piece, I Share the Challenges, Lessons, and Strategies I Learned to Help You Navigate Category Creation.
In the Digital Landscape, Small Businesses Must Identify Market Gaps. AI Excels by Analyzing Vast Amounts of Data and Detecting Patterns Beyond Human Capability, Making It Invaluable for Finding Untapped Niches. Its Superior Data Processing, Pattern Recognition, and Unbiased Analysis Surpass Human Abilities.
Using AI to Identify Gaps in the Market: Insights and Strategies for Small Businesses Read More »
Specializing in a Niche Allows Businesses to Focus on Meeting Specific Customer Needs, Building Stronger Relationships, and Driving Loyalty. By Concentrating Efforts on a Targeted Market, Companies Can Optimize Resources, Leverage Past Experience, and Deliver Tailored Solutions, Which Often Leads to Sustained Growth and a Competitive Edge.
Be an Inch Wide But a Mile Deep Read More »
Unlock Business Success Through Niche Marketing! By Focusing on a Specific Audience, You Can Build Strong Loyalty, Reduce Competition, and Enhance Customer Satisfaction. Discover How Honing in on a Niche Can Lead to Greater Market Share and Cost-Effective Marketing Strategies.
Go Niche or Go Broke: The Imperative of Specialization Read More »
Discover How ChatGPT Can Revolutionize Starting a Small Business With Prompts for Market Research, Business Planning, and More. Leverage AI to Streamline Operations and Enhance Decision-Making, Transforming Challenges Into Opportunities for Growth.
Useful ChatGPT Prompts for Starting a Small Business Read More »
Discover the Secrets of Prompt Engineering to Optimize Your Interactions With AI Chatbots. Learn How to Provide Context, Craft Clear Instructions, and Refine Prompts to Get the Most Precise and Effective Responses From ChatGPT.
How to Optimize ChatGPT Responses With Proper Prompt Engineering Read More »
: Uncover the Complex World of Franchising a Successful Business Model. Learn What It Takes to Create a Franchise Concept, the Cost to Develop One, Important Considerations to Take Into Account, and Examples of Pitfalls to Avoid.
What It Takes to Franchise a Successful Business Model Read More »
Discover the Invaluable Role of a Fractional Payroll Specialist in Simplifying Payroll Complexities for Small Businesses. From Tailored Solutions to Tax Expertise, Find Peace of Mind in Outsourcing This Critical Function.
The Value of Hiring a Payroll Specialist for Your Small Business Read More »
Unleash Business Growth With Offshore Freelancers via Labor Arbitrage. Discover How to Access Top Talent at Lower Cost While Retaining Your Client-Facing Functions, Reducing Expenses, Improving Margins, and Accelerating Projects. Discover These Labor Arbitrage Strategies With Practical Examples.
How to Employ Labor Arbitrage to Optimize Business Growth with Offshore Freelancers Read More »
Learn How to Navigate the Complexities of Hiring Your First Employee, From Legal Obligations to Payroll, With Our Comprehensive Guide. Empower Your Business Growth and Set the Stage for Success With These Essential Steps
Navigating Growth: 12 Steps to Hire Your First Employee Read More »
As a business owner, you have options when it comes to staffing. However, too many first-time entrepreneurs have come from the corporate world and think that the only way to hire is to hire a full-time employee because that is what they see corporations do. However, such thinking can often lead to problems when it
Unlocking Growth: Fractional Freelancers, the Smart Way to Staff Read More »
Unlock the Key to Successful Hiring by Pinpointing Candidates Who Possess a Balance of Technical Expertise, Intelligence, Diligence, Integrity, and Compassion. Discover How to Effectively Evaluate a Candidate’s Attitude to Make Better Hiring Decisions.
Attitude Matters: Navigating the 4 Pillars of Successful Recruitment Read More »
Three-Quarters of All Registered Businesses in the US Are Classified as Nonemployer Businesses. But That Does Not Mean That Because You Are the Only Person in the Business, You Can’t Get Help From Other Freelancers and Be a Virtual Business. There Are Many Platforms That Can Help Facilitate the Finding, Hiring, and Managing These Resources. This Video Explores One of Those Platforms, “Upwork.”
How to Use Upwork.com to Find, Hire, and Manage Talent Read More »
Discover How Co-packers Can Help You Bring a Product to Market on a Budget. Learn to Streamline Production, Optimize Processes, and Expand Distribution Channels for Maximum Growth.
How to Go From Concept to Market With Co-packers Read More »
Master the Art of Constructive Feedback with Our 10-Step Process. See How to Transform Setbacks into Growth Opportunities, Foster Open Communication, And Build a Resilient Team Culture
How To Navigate Employee Feedback: Strategies for Fostering Growth and Morale Read More »
Explore The Four Dimension of Leadership (Challenge, Directiveness, Structure, And Feeling) That Define the Four Leadership Styles (Rare Pragmatist, Nurturing Idealist, Stabilizing Steward, And Harmonious Diplomat) And How to Adapt Each Style to the Organizational Situation.
How To Navigate the Four Primary Leadership Styles for Business Success Read More »
Businesses Are Grappling with an Unprecedented Employee Turnover, Fueled by Employee Dissatisfaction. Discover The Strategies to Address the Root Causes of Employee Disengagement. Explore The Transformative Power of Meaningful Recognition and Managerial Training, And Review 30 Proven Engagement Best Practices. Elevate Your Workplace Culture and Secure Your Position as An Employer of Choice in Today’s Dynamic Business Landscape.
How To Master Employee Recruitment and Retention in The Great Reshuffle Read More »
Selecting the Ideal Location for Your Business Is a Pivotal Step Toward Success. Dive Deeper into the Ten Crucial Criteria That Can Make or Break Your Entrepreneurial Journey.
How to Master the Art of Choosing the Perfect Business Location Read More »
In Today’s Fast-Paced World, Shopping Has Become More of a Chore Than an Experience. Let’s Explore the Value of Reviving the Joy of Shopping, Drawing Inspiration from IKEA and Scheels’ Unique Approach and the Changing Landscape of Retail. Discover How Businesses Can Reclaim the Lost Art of Creating Memorable Shopping Experiences.
Rediscovering the Art of Creating an Enjoyable Shopping Experience Read More »
Learn the Art of Logo Design! Discover Why Shape, Wordmarks, Icons, and Color Matter in Creating Logos That Resonate with Consumers
Mastering Logo Design: Shape, Icon, Wordmark, and Color Essentials Read More »
Your Business Name Is a Vital Asset in Today’s Global Marketplace. Generic Names Fall Short, Lacking Uniqueness, and Fail to Stand Out. A Name Like “Starbucks” Resonates, while “Coffee House” Is Impossible to Trademark and Fades into Obscurity.
The Evolution of Brand Names in the Digital Age Read More »
Certain Small Businesses Consistently Thrive Regardless of Economic Challenges or Competition. What Sets Them Apart? It’s Their Unwavering Commitment to A Dual Strategy — A Strong Offense and Defense, Maintained Consistently. These Businesses Don’t Necessarily Offer Unique Products or Services, But Their Success Lies in Playing Both Sides of The Game Throughout the Year.
Why You Need a Dual Strategy for Business Success Read More »
Discover the Fascinating World of Decision-Making and Its Connection to Fragmented Knowledge. Explore The Profound Effects of Fragmented Knowledge on Business Decisions, And Uncover the Power of Embracing Direct Feedback to Revolutionize Your Path to Success.
How To Unravel The Impact Of Fragmented Knowledge On Decision-Making Read More »
Explore the Contrasting Worlds of Categorical Decisions and Incremental Decisions in Decision-Making. From Selecting Suppliers for Your Business to Making Choices as a Voter, Understand the Impact of Swift, Predefined Options Versus Thoughtful, Step-By-Step Evaluations. Uncover The Role of Second-Order Consequences and Incentives.
The Key to Southwest Airlines’ Success = A Focus on People. Learn How Their Corporate Culture of Continuous Communication and Sharing the Big Picture Fosters Commitment, Initiative, And A Sense of Partnership. Uncover The Importance of Open Communication, Recognition, And Inclusivity to Inspire Employees and Drive Organizational Success.
Unveiling The Big Picture: Sharing Your Vision for Business Success Read More »
Discover the Paradox of Technology and How It Complicates Our Lives Despite Promising Simplicity. Explore The One-Downing Strategy That Empowers Small Businesses to Differentiate Themselves by Offering Simplified Solutions in A Crowded Market. Uncover Real-Life Examples of How to Remove Unnecessary Complexity from TVs And Car Radios, Highlighting the Importance of Focusing on Users’ Essential Needs. Embrace Simplicity and Improve User Experience to Captivate Customers Seeking Hassle-Free Solutions in A Tech-Centric World.
How To Harness the Paradox of Technology with One-Downing Tactics Read More »
Navigate The Market’s Vast Sea with Confidence. Learn How Disciplined Financial Record-Keeping and Insightful Analysis Guide Small Businesses Toward Success. Discover Key Questions to Optimize Resources, Maximize Profits, And Avoid Permanent Dry-Dock. Set The Right Course and Chart a Prosperous Future.
Navigating The Business Seascape: How to Chart a Course for Success Read More »
This quiz was designed to test your knowledge of hiring employees. Are you ready to put your knowledge to the test?
Hiring Do’s and Don’ts: Evaluate Your Hiring Savvy with This Quiz! Read More »
Discover The Emotional and Powerful Journey of Using Ownership Incentives to Retain Key Employees. Learn From Real-Life Experiences of The Author, Tuck Aikin, As He Shares the Highs and Lows of Offering Ownership, From Perceived Entitlement to Unexpected Challenges. Uncover The Secrets to A Successful Ownership Incentive Plan and How to Avoid Potential Pitfalls.
From Perks to Problems: The Hidden Pitfalls of Employee Ownership Read More »
Discover The Intriguing World of Human Contradictions and The Impact They Have on Businesses. Uncover The Secret to Understanding and Addressing Customer Desires, Known As ‘Hot Buttons,’ To Protect and Enhance Your Reputation. Explore The Pitfalls of Neglecting Customer Satisfaction and Learn Valuable Strategies to Navigate Irrational Behaviors.
From Boom to Bust: The Hidden Dangers of Neglecting Customer Hot Buttons Read More »
Exceptional customer service is crucial to differentiate your business from competitors and succeed, as it helps to build customer loyalty and satisfaction.
Service with a Smile: The Simple Secret to Winning Customer Loyalty Read More »
This quiz was designed to test your knowledge of choosing the right entity for your small business. Are you ready to put your knowledge to the test?
AI Tools Like ChatGPT Can Be Incredibly Helpful in Simplifying Tasks and Creating More Efficient Workflows. The Key to Making an AI Tool Like ChatGPT Provide Accurate and Useful Results Is to Focus on Prompt Engineering, Which Is the Practice of Constructing Detailed Queries So the Tool Can Develop a Context-Rich Response. Here Are 11 Ways I Use ChatGPT.
11 Unique Ways I Use ChatGPT To Make My Life Easier Read More »
When Economic Conditions Dictate That You Have to Cut Costs Most Service Business Resort to Layoffs. Laying Off Employees Creates Moral Problems for The Remaining Employees. But There Is a Better Way to Cut Costs Without Conducting Layoffs.
How To Cut Cost Without Layoffs Read More »
There Are Many Good Companies, But To Make The Leap From Good To Great, The Company Needs To Discover The Intersection Of What They Can Be The Best At, What Drives Their Economic Engine, And What Drives Their Passion.
Why You Need To Align Skills, Passion, And Income Potential Read More »
As a business owner, you have strengths and weaknesses. It never advisable to engage in a head to head battle of attrition with a peer business. Using a military analogy, you attack where you have the advantage.
How to Use the Underdog Strategy to Crush the Competition Read More »
When It Comes To Business, How Do You Know When It Is Time To Quit And Move On Vs. Continue To Act With Grit And Persevere? The Answer May Surprise You.
How To Know When It Is Time to Quit Read More »
The Monkey and The Pedestal Analogy Reminds Us to Tackle the Hard Things 1st Because If We Can’t Solve Them, There Is No Point in Doing the Rest of The Work
Why Is “The Monkey and The Pedestal” Story So Important? Read More »
Every Small Business Should Explore the Possibilities of OpenAI’s Tools For Their Business, Including chatGPT and DALL-E 2.
How to Use OpenAI’s ChatGPT And DALL-E 2 For Your Business Read More »
As A Business Implements More Internal Processes to Increase Efficiencies, It Is Often at The Expense of The Customer. Being More Business Centric Comes at The Expense of Being Less Customer Centric.
Watch What You Expose Your Customers To Read More »
Every Time We Choose to Pursue Anything New, We Are Paying for It with An Opportunity Cost. Learning How to Calculate Opportunity Cost Is an Essential Skill All Business Owners Should Master.
Why You Need to Always Assess Opportunity Cost Read More »
A Premortem Is Used to Anticipate the Challenges and Identify the Things That Could Lead to A Project’s Failure, Determine Their Likely Causes and Create a Risk Matrix to Determine Which Are More Probable and Which Failures Will Have the Greatest Impact.
Why You Need to Conduct a Premortem Read More »
By Communicating the Big Picture and the “Why” Behind Desirable Behaviors, Managers Can Instill a Sense of Ownership in Their Employees and Create a Highly Functioning Business.
Effective Managers Know How to Create a Sense of Ownership Read More »
Many Employee Recognition Programs Are Poorly Designed and Do More Harm Than Good. Discover How to Design an Employee Recognition Program That Works
How To Design an Employee Recognition Program That Works Read More »
The new era of highly connected and interactive technology is changing not only how business employees interact with customers, but also how they interact with each other, and with their company.
8 Organizational Cultures Boost Output And Cut Costs Read More »
Most Problems Arise Between Consultants, Coaches, and Their Clients Because of a Misalignment Between the Assumptions and Expectations of Each Party. A Letter of Agreement Serves as a Way to Codify the Expectation of All Parties.
Why And How to Prepare a Simple Letter of Agreement Read More »
Would You Rather Have an Overqualified Person in The Job but Risk That They Quit When a Better Job Comes Their Way, Or Would You Prefer to Have Someone Who Is Average That Could Stay Forever?
Why You Need to Consider Hiring the Overqualified Read More »
One of the advantages of a small business is their ability to change direction quicker than larger corporations. Moreover, the rate of business change continues to accelerate which has given small business a leg up on larger corporations. However far too many small businesses continue to rely on business principles defined long ago when the rate of change was much slower. In this video discover that has changed and what you can do as a small business to be more responsive to change.
VIDEO: Why You Need To Be Better At Responding To Change Read More »
Business Owners Are Forced to Deal with Many Employee Behavior Issues. But Can You Really Change Employee Behavior Long-Term, And Is It Worth It?
Can You Really Change Employee Behavior Issues? Read More »
The Great Resignation Has Caused Many Employees to Quit. But Many Employees, In A Childish Act, Resort to Firing Employees for Being Disloyal, Hurting the Remaining Employees and The Business Brand. Click Here to See Why Firing Employees for No Other Reason Than Quitting Is Bad.
Don’t Make This Dumb Mistake – Firing Employees That Are Quitting. Read More »
Many businesses these days have a lot of invoices that their clients have left unpaid. According to Entrepreneur, the estimated amount of outstanding invoices across the US is somewhere around $825 billion. This puts every small business’s average amount of unpaid invoices at $84,000. It is not uncommon that some of these debts are paid
Five Things You Need to Know Before Hiring a Debt Collection Agency Read More »
Horizontal progress is about creating a better mousetrap while vertical progress is about making a better way to trap a mouse.
You Need to Understand Horizontal vs. Vertical Progress Read More »
A Corporate Management Structure Represents the Way That a Company with Shareholders Needs to Be Organized. A Corporate Structure Represents A 3-Level Hierarchy Composed of Shareholders, A Board of Directors, And Corporate Officers.
Corporate Management Structure – How to Be Compliant Read More »
Traditional interviews that explore a candidate’s experience, character, and goals are close to useless. Elon Musk and Thomas Edison employed tactics to discover the true value of a candidate during a job interview.
How To Reveal A Candidate’s True Value During A Job Interview Read More »
Customer Acquisition Cost Is the Amount of Money A Business Has to Spend to Get a New Customer. Knowing Your Customer Acquisition Cost Helps a Business Measure the Return on Investment of Efforts to Grow Their Client Base.
How To Compute and Reduce Your Customer Acquisition Cost Read More »
Upstream Thinking Is a Metaphor for Problem Prevention. There Are Three Problems That Prevent Upstream Efforts and Seven Critical Questions Leaders Must Ask to Fix Upstream Systems.
How To Find More Time And Save Money With Upstream Thinking Read More »
Enjoy the following excerpt from my FREE What You Need to Know About Starting a Business course where I talk about the difference between a 1099 subcontractor and an employee. Video Transcript (Lightly edited for clearity) If you have independent contractors and if you tell them when to show up, you provide tools for them, and you
VIDEO: Know Your Hiring Options – Contractor Vs. Employee – What Is Better Read More »
Most business cultures follow a rather predictable business evolution as they progress and grow. There are four stages that a business must go through from birth to death.
What You Need To Know About Business Evolution Read More »
Work style is the foundation on which businesses grow, operate, and thrive. It refers to the way we think, organize and structure our work. There are eight different work styles.
What is Your Work Style? Definition and Importance Read More »
There is a mismatch between what science knows about motivation and what the business does. Many businesses continue to use techniques designed for the industrial era workers that no longer work.
Your Old School Management Practices Are Dooming You To Failure Read More »
Simply put, branding is your reputation and is your most valuable asset. Branding builds trust between you and the consumer and takes time to build. A trusted brand is more profitable and creates gravity for customers, employees, and the media.
Why Branding Is So Important for You and Your Business Read More »
Social Sector Organizations Are Very Different from For-Profit Businesses. Their Economic Engine Is Replaced with A Resource Engine and The Leadership Required Focuses More Upon Legislative Leadership vs Executive Leadership Common in For-Profits.
Several Revealing Ways That Social Sector Organizations Are Unique Read More »
A culture focused on exceptional customer service is difficult for competitors to replicate and is a strategic advantage in the marketplace.
6 Rules of Exceptional Customer Service Read More »
Business success is not the result of a single intervention or initiative. Rather it is the result of consistently pushing in one direction over an extended period of time or what is known as the Flywheel concept.
The Flywheel Concept – How To Become A Great Company Read More »
There are many good companies but to make the leap from good to great, the company needs to discover the intersection of what they can be the best at, what drives their economic engine, and what drives their passion.
The Hedgehog Concept – How to Become a Great Company Read More »
Pricing mechanisms come in two principal forms: fixed and dynamic. Fixed pricing has predefined prices based on a static set of variables while dynamic pricing changes prices based on market conditions. Price mechanisms can affect both your revenue stream as well as your costs.
Why You Need To Understand Pricing Mechanism Types Read More »
Choosing the Right Business Entity Is Not to Be Taken Lightly. There are 39 Considerations You Should Explore Before Selecting the Best One for Your Business. Here Is A Side-By-Side Comparison of the 5 Types to Help You Decide
39 Considerations When Choosing The Best Business Entity Read More »
Centralized management in an LLC is where a professional manager, who is not a member/owner makes most of the decisions in a company.
What You Need To Know About Centralized Management In An LLC Read More »
Many Businesses That Choose the Business Expansion Route by Opening A Second Location May Be Jeopardizing the Success They Already Achieved with The First Location Because They Underestimate What Is Required to Expand to Additional Locations.
13 Business Expansion Risks When Opening A Second Location Read More »
Businesses Have Lots of Ways to Measure Employee Performance, But Performance Alone Is Not Good Enough to Maintain A Successful Organization.
Why You Need to Use A Performance Vs. Trust Matrix Read More »
A Common Term Used in Business Is “Economies of Scale”. Unfortunately, It Is Often Used Incorrectly to Refer to Economies of Scope.
What You Need to Know About Economies of Scope Read More »
When We Have A Vested Self-Interest in A Situation or Outcome, Regardless of How Well-Calibrated We Think Our Moral Compass Is, We Unconsciously Disregard Evidence That Negatively Impacts Our Desired Outcome.
The Truth About How Motivated Blindness Affects Business Decisions Read More »
The Five Things That A Business Needs to Have an Infinite Mindset Are: A Noble Purpose, A Culture of Trust, Rivals to Learn From, The Capability to Pivot Your Direction, And the Courage to Take Actions.
Why It Is Important That Businesses Develop an Infinite Mindset Read More »
Let me start out confessing that I have a love/hate relationship with Amazon. I bet a lot of you reading this suffer from the same malady. Amazon is like the giant squid threatening to swallow up Tokyo – seemingly unstoppable. They gobble up entire markets and drive retailer and e-tailers out of business. And when
6 Lessons B2B Companies Can Learn from Amazon Read More »
Are you totally overwhelmed? Hire a Virtual Assistant. You might say “I can’t afford one”, but you can’t afford NOT to hire a VA.
Why Hire A Virtual Assistant? (And How To Go About It) Read More »
Learn how finding, attracting, and nurturing social agents allows you to employ the principle of cumulative advantage to scale your business.
How to Apply Cumulative Advantage and Social Agents to Scale Your Business Read More »
The more senior the decision-making unit, the more data they have but the less specific that data is. The best decision is to entrust decision-making power to the lowest possible decision-making unit.
What You Need to Know About Hierarchical Decision-Making Read More »
The recent actions of Twitter and Facebook to delete user accounts are examples of businesses looking for an easy, short-term solution that fails to solve the right problem. They both failed to look at the second-order effects of their decisions, making the solving of the real issues much harder in the future while hurting at the same time their business and economic models in the process.
Why Businesses Fail to Solve the Right Problem Read More »
To make a better decision, business owners must go beyond stage-one thinking, look past the immediate or perceived outcome of their decision, and ask a series of “and then, what will happen?” questions to find the unseen consequences of their decision.
And Then, What Will Happen? – Getting Beyond Stage-One Thinking in Business Read More »
As A Business Matures and Grows It Often Experiences Growing Pains Because Of The Misalignment of The Founder/CEO’s Role in The Business and Where the Company Is in The Business Growth Stages Continuum.
7 Business Growth Stages – What CEOs Need to Know Read More »
When your business has lots of unpaid invoices and you’re low on cash to meet your financial obligations, you need to consider accounts receivable factoring.
What You Need to Know About Factoring Your Accounts Receivable Read More »
Most consultants are good at their core competency but not very good marketers. Using an automated lead generation video will have you rolling in prospects from which you will cherry-pick the best and most lucrative clients to engage with.
How To Promote A Consulting Business with a Lead Generation Video Read More »
SMART goals are carefully drafted tangible targets that you and your business can strive to achieve over a specific period.
What Are SMART Goals and Why Are They Important Read More »
Many startup founders I know avoid establishing a formal board of advisors and directors for as long as possible, with the excuse that this is just another burden, or it has more risk than value to the founder. Related Article: Do you Need a Board of Advisers? In my experience, just the opposite is true, since
How to Successfully Establish a Board of Advisors and Board of Directors Read More »
The Opportunity Discovery Canvas tool was designed to help entrepreneurs that have identified a problem to work through a basic framework to evaluate the feasibility of their solution.
Opportunity Discovery Canvas – How to Validate Potential Solutions Read More »
The collapse of a business or industry does not have to be a crisis. It actually represents an opportunity for entrepreneurs with vision who can act quickly
How an Economic Downturn Creates Huge New Opportunities Read More »
If you have the ability to act on new business opportunities during a bad economy, great fortunes may await you. It is time to work on that business idea.
Six Ways to Make Money in a Bad Economy Read More »
More workers are working from home. Here are some ideas to consider as you shift your workforce from working at company offices to a remote workforce working from home.
How to Effectively Deal with a Remote Workforce Read More »
A SWOT Analysis Looks at A Project or Business Venture by Focusing on The Strengths and Weaknesses of The Business Compared to The Competition as Well as The Opportunities and Threats from Changes in Macroeconomic Conditions.
SWOT Analysis – How to Conduct a Proper One Read More »
When considering key partners, you must consider the following questions: 1, Who are your key partners and who are your suppliers? 2, Which key resources are you acquiring from key partners and suppliers? 3, What key activities do your key partners and suppliers perform?
Key Partners and Your Business Model Read More »
The mindset of “execute the plan” should be more accurately stated as “Plan as you execute” to reinforce the idea that businesses need to test assumptions.
You Need to Validate Your Assumptions Before You Execute the Plan Read More »
Some industries are highly consolidated with few key players while others have few incumbents and are considered quite fragmented. We define these differences as an industry’s market structure.
What Is the Market Structure Read More »
Many businesses rely on observable signals when hiring or making promotions. Unfortunately, there is an entire class of people that are often overlooked and have the ability to really transform the fortunes of a business but often never hired or leave a company to become entrepreneurs based on what is known as information asymmetry
How to Crush Hiring by Recognizing Information Asymmetry Read More »
When you are firing an employee either for cause or without cause, the business should have a process that it follows to avoid the risk of a wrongful termination lawsuit.
What You Need to Know Before Firing an Employee Read More »
The ultimate goal when defining your key activities as part of your Business Model Canvas exercise, is to help you discover what activities you need to address in order to differentiate your product or service from your competition.
Key Activities and Your Business Model Read More »
A company’s key resources allow it to create and deliver its value proposition, reach its target market and maintain a quality customer relationship with them so that the business can earn revenue. For a company to produce a product or service, it needs access to physical resources, intellectual resources, human resources, and financial resources.
Key Resources and Your Business Model Read More »
A company’s cost structures represent the specific costs that the business will incur while operating under a particular business model. Through understanding the key resource, key activities, and its key partners, the business can determine its available cost structures. By choosing to be either Cost Driven or Value Driven and properly using Operating Leverage, the business can find its optimal cost structure.
Cost Structures and Your Business Model Read More »
