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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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 succeed in business - a list of the most important factors
I am not writing this article “How to succeed in business” at all. The other day, I accidentally stumbled upon a list of success factors in business with which I…

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Mistakes of novice entrepreneurs – 10 most dangerous (part 1)

The mistakes of start-up entrepreneurs are a real part of starting your own business. And you can’t get away from it, dear entrepreneurs, beginners and not really :-). Mistakes are an experience that is absolutely necessary on the path to success. All aspiring entrepreneurs make mistakes, and you will not be an exception. But this is not a reason to worry and, moreover, not to start a business. The simple question is whether you can learn from them.

Starting your own business is the most vulnerable period of doing business for many reasons. Accordingly, the mistakes of entrepreneurs are found here most often. And almost all are related to one of the following three aspects: Continue reading

How to increase profits in your business (part 1)

If you are an entrepreneur, then you simply have to constantly ask yourself the same question – how to increase profits? Profit – this is business. The whole point of the business is to increase profits. I don’t know other reasons for doing business. Whoever says anything. There are only five ways to increase profits in business, according to business expert Paul Lambert (the so-called Formula Five). Further we will consider them.5 ways to increase profits
1. Increase Margin
The same Paul Lambert said that business is not to sell more, but to earn more for yourself. And the more you can get from your business, the more successful your business is. And vice versa. As you understand, there are two ways to increase margins and, accordingly, increase profits: either sell more expensive, or buy and / or produce cheaper. Continue reading

How to establish a business (part 2)
2. Which of the processes has the most significant impact on profits in my business? Here, rather, it’s immediately clear, but nonetheless. It’s immediately understandable, because I believe that in…

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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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Industry Analysis through 40 Questions (part 2)
Competitors and Competitive Industry Analysis 22. How many competitors in this industry? Analyze your piece of the market, i.e. those with whom you are really competing. But be aware of…

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