Why Do Many New Businesses Fail?

One of the main reasons of new business start-ups failure is the inability to appropriately define the market, and the lack of relevant market segmentation for core market segments and customer groups. Market segmentation involves dividing the market into smaller homogeneous groups as a part of the company’s overall marketing strategy. Proper market segmentation entails…

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Tips on How to Read an Annual Report

An annual report is the summary of an organization business performance over the last 12 months, otherwise called the fiscal year of financial year. An annual report reveals the summary of the assets, liabilities, equity position, profits as well as the cash flows of the entity. As a vital document, the information is usually in…

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The Element of a Winning Business Model

  Building a sound business model requires the determination of specific elements which are considered the building blocks the business model structure.   Determining Drivers   The first element is the determination of   the business drivers. In order to understand this core element, new business start-ups should ask themselves a couple of simple yet substantial…

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Preparing a financial budget

A financial plan is an important item that all organizations need to have. The financial budget is the centre core that drives the business. It is through the budget that the company is able to make plans on how to run the business for a specific period while spending the finances in a way that…

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Wауѕ to Mаrkеt Yоur Small Business on a Shoestring Budgеt

Mаnу ѕmаll business hаѕ bееn made lаrgе bу the right kind of аdvеrtiѕing.” But аdvеrtiѕing саn be expensive, and in a tight есоnоmу, many ѕmаll buѕinеѕѕеѕ сut thеir marketing budgеtѕ firѕt bесаuѕе оf cash flоw concerns.   Hоwеvеr, when times аrе tоugh, it’ѕ еvеn more important tо keep уоur business brand frоnt and сеntеr.  …

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Leadership and the Traits of Effective Leaders

  Management can be defined as the process of coordinating resources to achieve the organizational goals. Effective management entails four main functions which are planning, leading, organizing, and controlling. Managers are responsible for performing these functions and some other roles and duties that are necessary in order to coordinate the organization work. These roles or…

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The Components of the Marketing Mix

A business’s marketing strategy involves several substantial steps including market segmentation, selecting target markets, positioning your products, and developing the marketing mix. Is this short post, I will shed light on the marketing mix as an integral part of a business marketing strategy. The marketing mix is a marketing term used to describe the 4…

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The Use of Microsoft Excel in Performing Accounting Tasks and Functions

Microsoft Excel is an electronic spreadsheets program developed by Microsoft Corporation and can be used in performing many substantial calculation and charting tasks. Excel is not a pure accounting application as it can serve different purposes and can be used in many diverse professions. However, accountants intensively employ Excel to perform many important functions such…

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Title: Why Companies Need to Develop a Sound Business Model?

What is A Business Model? The business model is the method the company employs to design a manner or structure by which the company deliver value to its customers. Thus, the business model should reflect company’s assumption about customers’ needs and wants, and the management’s strategy. In simple words, the business model is developed to…

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Tiрѕ fоr Organizing Yоur Smаll Business Finances

Nоw iѕ thе реrfесt timе tо tаkе a ѕрring сlеаning аррrоасh to the business issues thаt оftеn gеt рut off. Hеrе аrе six wауѕ tо сlеаn uр уоur finаnсiаlѕ аnd get оrgаnizеd.   Sераrаtе Buѕinеѕѕ аnd Pеrѕоnаl Finаnсеѕ If уоu hаvеn’t dоnе so аlrеаdу, tаkе thе steps tо keep your personal finаnсеѕ аnd еxреnѕеѕ ѕераrаtе…

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