Why do business plans fail? Business success depends on planning. A common reason for a failing business is a failed business plan. Business plans require discipline, creative thinking, attention to detail and flawless execution. Business plans fail if you have a bad idea Many businesses plans fail because the idea behind the business is flawed. …
“The essence of strategy is choosing what not to do.” ― Michael E. Porter It is important for every company to engage in strategic planning at various stages of the corporate life cycle. This planning involves asking important questions, collecting the correct data to answer those questions, and choosing among good alternatives. Each company will …
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The importance of data can not be understated. It’s incredibly vital for businesses because it helps them optimize their operations and expose variability. How companies obtain, keep, and use data has even become the subject of government inquiries. Companies such as Facebook, Amazon, Uber, and most recently even TikTok have found themselves in the limelight …
Building a Successful Data-Driven Business with Six Sigma Read More »
In the early days as an entrepreneur, most people start their first company because they have a great business idea that infects their minds. They get so excited about the idea and the mechanics of how it works that they can’t get it out of their head – and as a new founder, this passion …
Is an LLC the right entity for your business? Learning how to form an LLC is quite an easy task with the proper guidance. A limited liability company, or LLC, combines the benefits of sole proprietorship and partnerships. Additionally, there are significant tax benefits. LLCs also offer limited liability protection that is often superior to …
“Business Lawyer” is considered an umbrella term that covers lawyers specializing in different aspects of business law. If you’re a business owner in need of a lawyer, you’ll benefit from hiring one who can meet your specific requirements. While you’re searching for lawyers who have experience in business law, it pays to learn about the …
You don’t need to pay off personal debt before starting a business any more than you need to get married before having a kid. Despite what societal norms and your mom say, reality says otherwise. I mean, is it better to welcome a kid into a home with parents who’ve vowed in front of their …
Do You Need to Pay Off Personal Debt Before Starting a Business? Read More »
