Painting house facades as a business idea
Buildings are almost always high. Stairs, hanging cradles, scaffolding and other smaller appliances are simply necessary for starting a business. And, of course, special paints, electric rollers, compressors. The complexity…

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Payment terminals as a business
In this article, we will consider a new business idea - payment terminals as a business. You always want your own business to become profitable right away, right? From this…

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How to study the market and why is it needed? (part 2)
5 steps to explore the market 1. Set the goal of market research. Do not just collect information, but decide (or rather, understand) what do you want to know? Why…

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communicate and convince

How to increase business efficiency or reduce inventory

Entrepreneurs always have the question of how to increase business efficiency. Efficiency in a small business needs to be increased constantly, looking for new ways and opportunities. And one of the possible ways to increase efficiency in your business is to reduce inventory, however strange it may seem. We’ll talk about this today.

Why less inventory is a more efficient business?
First, inventory is a cost. First you need to purchase them, and then store them in a warehouse (which, by the way, is most likely for rent, no?). Continue reading

How to do a SWOT analysis (part 3)

Step 3. SWOT matrix
Having calculated all the factors influencing the business and grouping them into four squares, we get the SWOT analysis matrix, as in the photo below. Thus, we classified all possible impacts on our business in 4 categories: Strengths, Weaknesses, Opportunities and Threats. Thanks to this matrix, we better understand our own business, and, accordingly, it is easier for us to make competent decisions.how to do swot analysis
SWOT analysis matrix

Step 4. SWOT Strategy
Stroking the matrix on the SWOT, it is easy to see that in each square two elements intersect. From this “intersection”, in fact, we can extract a separate business strategy and, on the basis of it, develop a business. Continue reading

The main tasks of an entrepreneur, or what and how to do if you are an entrepreneur (part 2)

8. Foresight
Are you not a psychic? Sorry. Well, let’s do it, then somehow differently. OK stop, seriously. No superfluous feelings are meant. Remember, we have already called control one of the main tasks of an entrepreneur. I said there that everything needs to be measured and controlled. So, from these your measurements you must draw some conclusions. To analyze and draw real, practical conclusions. And on this basis, try to give some kind of forecast. What can change, which way, when, etc., in your business, of course, you understand. The task is not easy, but nonetheless.

In general, taking this opportunity, I’ll say that, of course, you can not perform all the main tasks of an entrepreneur that are listed here. Just like at school, you know, they made 7 out of 10, you get a solid three. Continue reading

Production of decorative stone as a business idea
We will begin our consideration of this business idea with a short history. The first building material that was used by our ancestors thousands of years ago, and only in…

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How to increase business efficiency or reduce inventory
Entrepreneurs always have the question of how to increase business efficiency. Efficiency in a small business needs to be increased constantly, looking for new ways and opportunities. And one of…

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Industry Analysis through 40 Questions (part 1)
Analysis of the industry is not only an important step in opening your own business, but also an important tool for conducting and developing your own business. Indeed, making an…

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How to become a successful entrepreneur: 30 tips
How to become a successful entrepreneur? I don’t know, I’ll tell you straight. If you wanted to hear the answer directly, it is unlikely to succeed. Successful entrepreneurs become working,…

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