Competitive intelligence (CI) is key for businesses to thrive, especially online and in ever-changing industries. Burc Tanir, CEO of Prisync, stresses the need to keep an eye on competitors. This helps companies gather crucial market insights. CI is not just about planning. It ensures companies make smart choices to stay ahead. Forbes Technology Council underscores … Read more
In recent years, a lot of people in the U.S. have become interested in product management1. This field is now seen as exciting and offers many opportunities1. It was even named the fifth-best job in America by Glassdoor in 20191. Product management brings together strategy, design, and being a leader1. It offers paths from starting … Read more
Running a small or medium-sized business means wearing many hats. This can be tough and wear you out. Business Consulting Services can be a big help. They bring in deep knowledge in areas like strategy, management, and more. With a Strategic Business Consultant, you can make your business run smoother. This lets you focus on … Read more
Laundromats stand out for their consistent earnings and not budging much during tough times. They offer investors solid returns with an average net profit margin of 28%1. Typically, a US laundromat can pull in about $300,000 a year. This depends on where it’s located and the services it provides1. They are known for low costs … Read more
Letting go of a client can be tough but sometimes it’s needed to protect your agency’s good name and growth. It’s key to know when and the right way to fire a client to stay professional and protect your business. Brittany Woitas, Founder at Kōvly Studio, notes such steps can lead to finding better clients … Read more
CRM software is key for companies looking to better connect with customers and grow. It’s more than a tool. It combines tech, people, and processes to boost interactions with customers at every step. Most businesses, 80% in fact, see higher earnings by using CRM for more focused, personal connection1. Also, a small portion of customers, … Read more
Knowing the right Key Performance Indicators (KPIs) is key for business success. These metrics guide your company towards its objectives. They offer insights into how well a business is doing. A good KPI strategy makes sure your goals and KPIs match, boosting growth and efficiency. Using tools like ClearPoint Strategy helps track KPIs well. This … Read more
The supply chain is crucial for getting products from suppliers to customers efficiently. But it can be disrupted by things like the bullwhip effect. This leads to big problems and inefficiencies in the supply chain. The term “bullwhip effect” was first used by Procter & Gamble in the 1990s. It describes how small changes in … Read more
Business is about creating items or offering services to make money. Every month, around 543,000 new businesses start in the U.S. They’re driven by dreams, the desire for independence, or unique ideas1. Yet, out of these, only 20% make it past their first year. This stark statistic highlights the importance of a solid plan from … Read more
Branding is key to building a strong, visible presence that boosts growth and affects how shoppers act. About 81% of customers trust brands before buying1. A solid brand identity helps companies get 50% more suitable job applicants quickly and at lower hiring costs1. Picture your brand becoming famous after just 5-7 views1. Good branding is … Read more
Industrial manufacturing turns raw materials, parts, and components into finished goods. It uses labor, tools, and machinery. From your local bakery to big factories, it’s key in today’s economies. It helps produce different goods efficiently. This guide will introduce you to the world of industrial manufacturing. It covers the methods, history, and its importance, especially … Read more
Ad hoc reporting gives business owners a way to make custom reports anytime, helping with quick, strategic decisions. This guide explains ad hoc reporting, its benefits, uses, and how to do it right. It also shares tips and suggests tools that can help in analysis. In today’s data-driven world, ad hoc reporting is a key … Read more
Strategic thinking is crucial in today’s business world. It’s the foundation of good planning and new ideas. Did you know 82% of businesses see strategic thinking as vital for success1? Also, 90% of leaders say it’s a must-have skill for their teams1. Yet, only 23% of businesses make time for strategic thinking sessions all year1. … Read more
Starting a new business comes with many risks. Did you know about 20% of new companies fail within two years of starting1? This fact reminds us that staying in business is tough. Entrepreneurs often find it hard to get money to start, overcome challenges, and plan well. But there’s even more to consider. So, what … Read more
Organizational behavior (OB) explores how people, groups, and structures work together in companies. It focuses on improving how we all work together and make decisions. This field helps us better manage teams, enhancing workplace vibes and strategies. We delve into topics like what motivates us, different ways to lead, and how to handle change. Looking … Read more
It’s a common misconception that nonprofits cannot make money. This is not true. They can, but they must use all extra money to support their cause, not for personal profit1. This rule helps them keep their tax-free status according to the IRS. In 2016, nonprofits provided jobs for 12.3 million people. This was about 10% … Read more
Building your LLC’s business credit is key for getting loans and keeping a healthy finance. A strong business credit score separates your company’s money matters from your personal ones. This means better loan access and more financial chances1. Starting LLC credit not only keeps your personal things safe. It also helps you get good deals … Read more
In today’s fast-paced world, businesses aim to work smarter. Value Stream Mapping (VSM) is a key player in this quest. It uses lean management to show how work flows from start to finish. This method helps a company see where delays or waste happen. So, why is this important for your business? VSM lights the … Read more
The coffee shop market is growing quickly. It’s expected to be worth $237.6 billion by 20251. People love the convenience and atmosphere of cafes, making them increasingly profitable. In the U.S. alone, there are over 65,410 coffee shops. By 2025, we’ll see about 17,537 more2. This is great news for anyone in the coffee business, … Read more
The halo effect plays a big part in business. It shapes how you think and the choices you make. Edward Thorndike showed us this bias. It makes people jump to conclusions based on little info. Executives might lean too much on famous sources, like the Harvard Business Review. This can lead to poor research and … Read more