A business must create competitive advantages to survive the onslaught of competitors. To do this, the business may focus on a particular area to excel (and possibly dominate), such as a reputation in excellent customer service, or the production of high quality products. More often than not however, a business

  When you were a start-up entrepreneur, you have most likely worked alone, braving through the long days and lonely nights. You had bought your trading goods alone; processed and sold them from the trunk of your beaten up sedan. You were turned down several times over by your prospective

  In previous posts, we have discussed budgeting and planning as the separate issues they are. This post attempts to bring out the importance of periodic (specifically, yearly) business performance review. However, it is also dovetailed into future year projections to emphasize the linkage between the two. Basis: At whatever

  Our last post on Business Execution essentially focussed on the following: Definition of Execution, Benefits of Execution, and Creating a System of Business Execution. This, concluding part, addresses the need to avoid execution inertia. 4) How do you avoid execution inertia: Right people: No gainsaying your most important resource

There are four traits found in entrepreneurs, as follows: Those who do not plan, Those who plan but do not execute, Those who ‘execute’ without planning, Those who plan and execute. The first three classes have very little chance of succeeding in business. If you fall into any of them,

Innovation: The Conference Board of Canada defines innovation as ‘the process through which economic and social value is extracted from knowledge through the generation, development, and implementation of ideas to produce new or improved strategies, capabilities, products, services, or processes’. Ron Jonash, of Monitor Group however has this to say

Publisher’s note: The title and content of this post was written by Mirza Yawar Baig. He has kindly granted us permission to reproduce it here. 1 – Founding story: why this venture, why that particular time, what motivated to make the leap? Who helped in the process? What were the

Most small business operators do not bother to plan and draw their budgets. This is dead wrong. As most businesses have a financial year that begins in January and ends December, this may be your last chance to ensure that you draw your next year’s business budget. Importance:    Your budget

”Teamwork is the ability to work together toward a common vision.” — Andrew Carnegie Entrepreneurial ideas frequently emanate from solo thoughts, observations or discussions with a few others. Developing ideas into viable business enterprises, however, requires the concerted effort of a lot of people. As an entrepreneur, you should realise that

The quality of our decisions, and the results we get therefrom, are dependent on a few factors as follows: The quality and quantity of information that we have at our disposal, Our abilities to intelligently process the information available and make decisions based on that, The environmental response to our