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 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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Learning business by watching others succeed (part 1)
6 business lessons from the Barack Obama campaign Barack Obama is not the first presidential candidate to use the Internet in his campaign. But Barack Obama is the only one…

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difference

What a business depends on – 5 digits that an entrepreneur must know (part 2)

5. Lifetime value of the client / Cost of attracting one client

This indicator will allow you to understand how much you will get back from each invested ruble. In our case, it looks like this: 28750/500 = 57.5. For each invested ruble in attracting customers, you get in the long term (i.e. for the time during which the client buys goods or services from you) 57.5 rubles. Very good, by the way :-). But this is just an example, of course. By the way, this shows how important it is to work with regular customers.

This parameter very clearly shows the long-term prospects of your business. If every invested ruble brings you 2 or 5, then this is a bad business, you know. Draw conclusions and make corrections. Continue reading

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, gaining their own experience, learning and steadily realizing their own business ideas and intentions. And not because they had beforehand an answer to that very question: how to become a successful entrepreneur? Therefore, friends, if you want to become successful entrepreneurs, believe and work, and everything will work out. Mistakes, of course, will be, but they are just part of the path to success in entrepreneurship. By the way, here is a list of common mistakes made by new entrepreneurs. Continue reading

The most important factor for business success

You want to know a lot of things, to be able to do even more, but if you don’t make a decision, if you are not ready to act, you won’t succeed in any business. Or, if you don’t have a firm determination to follow your personal decision. The main thing is to start and do. And, if you do not decide on this, you will not succeed in business in any way, right?

How does the main factor of business success work?
I am not a psychologist or philosopher, but I’ll try to find out how the very important factor of success in business and in life works, where it comes from and what it is eaten with.

Firstly, you need to understand that it consists of two parts that are completely interdependent from each other: Continue reading

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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Breeding quails as a business
The other day I received a letter asking why there are no articles with business ideas on our site. Well, because I do not have time to write :). But…

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Reduce business expenses - a way to increase profits №5
So, dear undertook, we got to the fifth, last in our list of ways that increase profits in our business. This will reduce costs in your business. Prior to this,…

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How to stimulate employees, or about the mistakes of material incentives
What mistakes in motivating employees are considered the most common? We will list a few standard mistakes made by managers and hope that they will help you better understand how…

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