Is competition evil? How possible is it for a small business to operate without competition? Is it a good move to try and avoid competition? Is competition good for a business? One of the dreaded challenges most beginner entrepreneurs face is competition. In fact, most entrepreneurs and small business owners perceive competition as evil. Every…

 

Your company is at risk. Yes, if you operate any type of business under the sun, that business is prone to a lot of risks. You may think you are very careful. You might have insurance in place. You might have trained your staff perfectly and might even hire only professionals. But the truth is…

 

It doesn’t matter how much you have spent on insuring various aspects of your business; you still need a business continuity plan. A business continuity plan makes it easier for you to manage disaster and get your business up and running again in the event of an unforeseen unfortunate occurrence. With a business continuity plan…

 

You have spent time to create what looks like the perfect business continuity plan. You have even trained all stakeholders and made sure that all key employees know exactly what to do at every point in time. But how can you be sure that you have a solid plan? Really, you cannot tell unless you…

 

With many businesses being crippled by natural and man-made disasters on a daily basis, it’s important to have a business continuity plan in place for your business. This way, your business will be able to effectively cushion the effects of these disasters. In case you are feeling lost, business continuity planning involves identifying the internal…

 

Growing a business that started small into something bigger is not easy. According to research, only about ten percent of companies will ever reach $250 million in annual revenue. And an even more microscopic 0.036 percent will reach $1 billion in annual sales. So, in other words, most businesses start small and never leave that…

 

Business process modeling (BPM), also called process modeling, is the analytical illustration or representation of an organization’s activity or set of activities that will help the organization achieve its goals. Businesses use business process modeling to map out their current processes, create a baseline for process improvements, and design future processes with those improvements incorporated….

 

What is business intelligence? What are its benefits and how does business intelligence help in decision making? Well, this article will answer your questions in detail. Wikipedia defines business intelligence (BI) as “a set of theories, methodologies, architectures, and technologies that transform raw data into meaningful and useful information for business purposes.” The main purpose…

 

Do you have a business disaster preparedness plan? If no, then below are ten benefits of having a business disaster preparedness plan. Disaster can strike a business at any time. Even a successful business can find it very hard to recover from the harsh effects of natural and man made disasters. So, it’s very important…

 

What is the difference between a business continuity plan and a business data recovery plan? Well, I advice you read on to find the answers you seek. When two terms are so closely related that only experts can figure out the differences between them, chances are that they will be erroneously regarded as the same,…

 

Do you want to learn how to prepare a business disaster recovery plan? Or you simple need a sample business disaster recovery plan template? Then I advice you read on as this article will help you out. After many years spent as a business owner, I have come to acknowledge the fact that shit happens…

 

What are the sources of sustainable competitive advantage a business can exploit? How can I dominate my niche? How did companies like Apple, Google, Microsoft, Wal-Mart, General Electric, Berkshire Hathaway and Virgin become market leaders? Well, you will find out below. “If you don’t have a competitive advantage, don’t compete.” – Jack Welch Most entrepreneurs…

 

Today, I want to reveal to you seven businesses I am modeling. As you know, I am in the entrepreneurial process of building a business so I have to follow the footsteps of the great business leaders. Just as I have business mentors and entrepreneurial role models, I also have business models that I strategically…

 
 

Do you want to dominate your industry? If YES, here are 20 best sources of competitive advantage in business with real life references of companies using them. The world of business is highly competitive and here, the winner takes it all. This is why businesses find themselves continuously struggling through their entire existence to best…