Yearly Archives: 2021

Having a marketing strategy gives your small business a clear path to success. It is important to tailor your marketing strategy to the specific demands of your busines. An effective marketing strategy begins with a defined set of objectives, a good deal of customer research, and a series of marketing […]

The process of taking a product or service from conception to market is known as new product development (NPD). It outlines a series of stages that new products typically go through, beginning with ideation and concept generation and ending with the product’s market introduction. Depending on the nature of the […]

When is it appropriate to introduce a new product or service? Well, like everything else in business, it is complicated. The answer will depend on who is asking and what type of business they are in, and can come with a slew of “ifs,” “ands,” and more than a few […]

What Is Innovation? An innovation is an idea that has been transformed into practical reality. It can be anything new – or different – that changes the game for YOUR company, filling an untapped customer need and building a new market. Innovation does not always imply the creation of something […]

The term “lean manufacturing systems” refers to the most recent manufacturing methods that maximize value while minimizing waste. It is designed to improve any company’s manufacturing line with a strong emphasis on waste reduction or elimination. When wastes are reduced, the quality of the products or services improves, so do […]

Creativity is what distinguishes a business from its competitors. Competition may kill the business, but if it’s innovative enough, then it will have an edge to survive and stand out.  Innovation is a creative process.  It stretches the imagination and offers limitless possibilities. A simple idea can turn into an […]

How do you determine whether your business succeeds or fails? By doing a research project. You will need to adequately research the validity of your business plan. It can be difficult to gauge what “adequate” really means. Here’s a checklist of some elements that any sufficient business research will contain: Market Research – It may […]

Businesses often employ Research and Development (R&D) to determine the consumers’ degree of acceptance of a new product. The reason behind this is the fact that launching a new product without a real demand would mean more costs than actual market research. Additionally, a failed product launch is not only damaging […]

If you don’t know where you’re going, then its leading you nowhere. The same applies to an effective product development. As an entrepreneur, you need to know how to measure your overall success. This is where Product KPIs are vital. If you are managing a team, there is a good […]

Goals are of vital importance in our lives. By setting goals, we can focus our lives and advance confidently in a definite direction. In business, a goal describes what a company hopes to accomplish or where it hopes to be at a specific future date. When a company sets goals, it makes its […]

We have seen a lot of organizations who mull and watch as their business transforms into a zero-profit condition while their competitors appear to flourish. Why is this so? Just take a look at your business and try to answer these questions: ✅ What does my company do better than anyone […]

Are you struggling with product decisions? Do you need to figure out if that great idea you are passionate about could become a successful business? A feasibility study will let you make an informed “go” versus “no-go” decision. It acts as a screening test for your business idea and can […]

As a business owner, you should know the importance of growing your business. Growth is absolutely essential for any company because without it, operations will stagnate. Your brand should also be able to keep up with the ever-changing demands of consumers. Aside from this, you need to be on par […]

Every product or service has a purpose. One of the reasons why customers buy a product or service is because of its benefits. Either it solves their problem or meet their needs. Features can also be a valuable factor but only if it can provide benefits. By highlighting your product […]

Goals are achieved through effort. Each of us have our own goals in life. But who among us have thought about writing them down? Analysts tracked down that 90% of us never set goals. Of the 10% who really do, only about 3% have really thought of writing them down. […]

Use Creativity To Explore Opportunities As long as consumers have problems, they will always search for solutions. They will consistently search for better, quicker and more intelligent approaches to achieve everyday tasks. Fortunately for entrepreneurs, there are still plenty of room for upgrades in existing products. The greatest challenge for most […]

Are you struggling with what to prioritize in your business (or life)? With a thousand things any one of us can do in any given moment, how do you prioritize what to do next? Being able to set priorities is the key to getting organized and making the most of your […]

If you want to start a new business, you’ll need to devote some time to refining your idea. Becoming able to work on something that interests you and that you are enthusiastic about is one of the most appealing aspects of being an entrepreneur. Unfortunately, this enthusiasm does not necessarily […]

When you’re starting your own business, there’s no guarantee that it is going to survive, especially in today’s fast-paced business world. Nearly half of all small businesses fail within the first two years of operation. There can only be two reasons for business failure: first is inadequate planning and secondly, […]