The Entrepreneurial Operating System and Its Benefits for Businesses
The Entrepreneurial Operating System (EOS) is a system that was developed by entrepreneur, author and speaker Gino Wickman. This system has been used by well-known companies such as Zoup!, McKinley, and imageOne, to name a few.In short, it’s a way of managing your company in an entrepreneurial manner so you can take control over your
How Do Entrepreneurs Write A Strategic Plan?
Starting a business will no doubt be among the highlights of your life. Unfortunately, a study conducted by the University of Tennessee found that 44% of companies fail within their first three years of operation. This statistic might dampen your spirits if you are thinking of starting a business or have just started one. Even
11 Tips For Brainstorming Your SWOT
Every business needs to do a SWOT analysis as it executes its operations. After all, each company should know where it stands and where it is heading. SWOT is simply an acronym for Strengths ,Weaknesses, Opportunities, and Threats. This is crucial for analyzing these four aspects. Otherwise, a business won’t know its current standing without
Why Do Small Businesses Need Intranets?
In 2019, the U.S Small Business Administration reported that the U.S hosted around 30.7 million small businesses. Since then, the number of small businesses worldwide has steadily risen as more people seek financial independence, want to be their own bosses, and follow their passions. Unfortunately, few businesses seem to have enough time in an 8-5
Company Vision: What is it?
Before we start anything, we usually develop some idea about the desired outcome. For a company or organizational startups seeking a refocus to get back on track, leaders also should have an idea of how a successful outcome should look and what the company aspires to become. That outcome, in essence, is the Company’s Vision.
Vision & Mission: What’s the Difference?
Difference between Vision and Mission Strategic planning driven by meaningful Vision and Mission statements helps create common goals within any organization, according to a recent BoardEffect article. While the differences between these statements are often misunderstood or seem to overlap, they represent distinctly different guidelines to achieve organizational success. A Vision Statement should be a
How Companies Can Communicate Their Strategic Vision to Employees
Communication of strategic vision is effective when employees receive a message, understand its intent, and act on it. But the real world presents challenges for employees like: Getting swamped with emails Dealing with personal problems Misunderstanding the intent of the message Encountering distractions In short, a failure to communicate effectively comes at a cost and undermines
Components of a Business Strategy that Marketing Personas Influence
Marketing personas heavily influence business strategies, and when they are backed with solid customer research and insights, they will create better results. Every business has a core customer base, and those customers who are invested in your brand are emotionally connected and will remain loyal to the brand . Creating a marketing persona will help
10 Examples of Great Company Brand Guides
Business owners use branding to convey the essence of their business to their target customers. Do you feel your brand’s logo is efficiently conveying what your business stands for? Do your company’s colors, typeface, brand voice, and messaging, as well as its vision and mission statement, embody what you want your customers to feel about
Why Big Hairy Audacious Goals Are Most Important To Your Business
While some business goals are functional and achieving them is vital to your continued operation, others are aspirational and affirm your long-term vision for your organization. Big Hairy Audacious Goals (or BHAGs) reside in between this gap of practicality and motivation; they express achievable, yet remarkable milestones that can help drive performance and create a
What Are Core Values and Why Do They Matter?
Core Values are more than just words; they are the foundation of your organization and those who work within it. For as important as they are, many companies fail to realize the value in establishing Core Values and inspiring their teams to live by them. What are Core Values?Generally speaking, the Core Values of a business
HR Teams: How to Implement Core Values
So after a lot of workshopping, discussion, and perhaps even a bit of debate, your organization has just established its Core Values–maybe even using Breakthrough to do it––congrats! However, that’s only half the battle–as someone who works in HR, you’ve now been assigned the task of communicating and implementing these important values to the entire
Why Audience Segmentation Improves Marketing
Think about the last time you gave someone a gift. Odds are you didn’t give the person the same gift you had given to your spouse a few months ago. In fact, we’re going to guess you likely don’t give the same gift to everyone. You personalize it. You look at something in the store
Top 10 Market Research Articles
Let’s face it – not everyone has time to sit down and read a lengthy article on a topic like marketing. Even if it’s critical to your company’s success, and the article is bursting full of helpful information, it takes precious time that you likely don’t have.Luckily, we’re here to make it easier for you.
Top 11 Audience Research Tools
It’s a common quality across the board – people don’t like change. In fact, according to research, Americans buy the same 50 items, accounting for around 85% of household needs. So, needless to say, you can get stuck between a rock and a hard place when you want someone to switch to your brand. If
How to do Market Research?
“Failure to do market research before you begin a business venture or during its operation is like driving a car from Texas to New York without a map or street signs,” William Bill of Wealth Design Group LLC in Houston says. Bill couldn’t be more right. Marketing research zeroes in on what kind of exciting
What is a Customer Avatar?
When you’re in charge or running a business, you’re always looking for ways to attract “new” everything – customers, subscribers, maybe even old customers. What’s the way to do it? Connecting with them on an emotional, deep level. The problem here is, some people are pretty uncomfortable with getting emotional with strangers. But this is