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Starting a Business

Starting a new business is an exciting time. However it also brings a lot of new challenges and it is essential that informed decisions are made. This section contains everything from Internet based products that save you time and money to advice on business planning for startups.

 

How Entrepreneurs Should Approach the Dragons’ Den

The Dragons’ Den is one of the more popular business programmes on the BBC, with average viewer numbers in excess of three million . The format is pretty simple – entrepreneurs pitch the dragons (wealthy investors) with their business plan. The entrepreneurs are looking for investment (as well as advice) in return for an equity [...]

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What to do When you Arrive Late to the Party?

Relying on academic management literature for guidance can be a fickle business. For example, while “first-mover advantage” was once lauded as the optimum strategy for market entry, it was shortly displaced by its close cousin “second-mover advantage”. The thought went that the “second mover” could learn from the mistakes of the pioneering entrant who was [...]

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How to Measure Small Business Performance

When I am asked about measuring small business performance, my first inclination is to quote Lewis Carroll. In Alice’s Adventures in Wonderland, Alice comes to a fork in the road and asks: “Would you tell me, please, which way I ought to go from here?” “That depends a good deal on where you want to [...]

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Business Model vs. Business Plan

This is the third of a three-part series. Read Part I and Part II. A business plan is essentially a more detailed version of your business model. A business plan has been traditionally understood as a physical document, although increasingly this view has changed as business plans have migrated online. The business plan format very much [...]

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Examples of Well-Known Business Models

This is the second of a three-part series. Read Part I and Part III. The following are some examples of business models that are used by various businesses. The list is by no means exhaustive and is designed to give you a feel for some of the models that exist (business models evolve constantly). In [...]

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Have you Optimised Your Business Model?

This is Part I of a three part series. Read Part II and Part III. What is a business model? A business model is a description of how your business intends to operate and make money. At the most basic level, it involves a producer making something and selling it directly to customers at a [...]

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Financing your Start up Business

Decisions regarding how you finance your business should be taken very seriously as it is one of the most critical decisions you will make at the start-up phase and forms a key part of any business plan. When considering the different financing options, you need to spend some time learning about the conditions that come [...]

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A Simpler Plan for Startups

Business advisors, experienced entrepreneurs, bankers, and investors generally agree that you should develop a business plan before you start a business. A plan can help you move forward, make decisions, and make your business successful. However, not all business plans are the same, not every business needs the same level of detail. You might develop [...]

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Your business plan is a living document

As you review implementation results with the people responsible, you will often find the need to set new goals and make course corrections. Keep track of the original business plan and manage changes carefully. Although changes should be made only with good reason, don’t be afraid to update your plan and keep it alive. Business [...]

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Small Business Plan

Looking to write a small business plan? If yes, you’ve come to the right place. Regardless of the size of your business, a business plan is an important element in helping you ensure that your small business has every chance of surviving and prospering. While business plans are synonymous with start-up’s they play a vital [...]

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