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…

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What a business potential consists of - 10 basic elements
The main components of business potential The main components of a business’s potential are what business depends on the most. As I understand it, and so I talk about it,…

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How to increase profits in your business (part 2)
How much will profit increase? Above, we have listed five methods for increasing profits. How much profit will increase depends on how effectively we implement all the changes in the…

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distribution

How to study the market and why is it needed? (part 1)

First, let’s figure out what a market is. I say again, I write about my concepts, which do not have to correspond to textbooks. Therefore, the market for me is customers, but competitors. And that’s all. Roughly speaking, of course, but the essence is as follows. Accordingly, to study the market is to study customers and explore competitors. Just huh? 🙂

More about what it is to “explore the market”
I’ll start the paragraph as I finished the previous one – excuse me. Explore the market – this is to study customers and explore competitors. In fact, you have two areas for market research. Continue reading

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 do you need this information? Then you will find exactly what you need.

2. Gather information. Use different sources – and communication with people, and the Internet, and magazines, and statistics of different organizations … everything you can get … Do not forget about wordstat! 🙂

3. Check the information. Sometimes information from different sources can be very different. Unfortunately, this happens and you have to spend extra time. But nothing can be done – it’s better than continuing to work, being in error. 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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Copying a business, or how to capitalize on other people's ideas (part 1)
Copying a business is a really powerful tool for creating a truly solid business. And let them say that it’s bad, that originality and creativity are valued higher, that copying…

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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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