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 analysis of the industry (and its own business, in particular), the entrepreneur clearly understands where and in what to add, and in which he is ahead of the competition. It really helps to make the right decisions, agree. And making the right decisions is the main task of a successful entrepreneur. So let’s look at how to do the same industry analysis.
Want to do an industry analysis? Answer 40 questions
To make it easier to analyze the industry, here I will lay out 40 questions, by answering which you can already say: “That’s it! I did it! Industry Analysis Ready. 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
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
How to do a SWOT analysis (part 2)
Step 2. Analysis of the business environment
In this step of the SWOT analysis, we must analyze in more detail all of the above factors and understand what they actually represent for us and our business. We will do this, as you might imagine, through a few questions. Here they are:
19. What legal factors can be a threat to our business, and which opportunities?
20. What political factors for our business can be a threat, and which opportunities? Continue reading
How to do a SWOT analysis (part 1)
SWOT analysis is a very important tool for opening, planning and running a business, respectively, and the question “how to do SWOT analysis” is of particular importance in the life of an entrepreneur. We’ll talk about how to do SWOT analysis today. Rather, we will develop such a step-by-step instruction – a questionnaire, after which the very question (how to do SWOT analysis?) Will be completely closed for you.
First, let’s look at what a SWOT analysis is (I apologize in advance to those for whom this is unnecessary). SWOT analysis – a tool for planning and conducting business based on the analysis of four comparative business elements. These elements are: Strengths (strengths), Weaknesses (weaknesses), Opportunities (opportunities) and Threats (threats). Correctly done SWOT analysis gives the entrepreneur a huge amount of useful information necessary for making the right business decisions. Continue reading
