It costs money to start a business. Funding your business is one of the first — and most important — financial choices most business owners make. How you choose to fund your business could affect how you structure and run your business. Determine how much funding you’ll need Every business has different needs, and noContinue reading “Fund your business”
Author Archives: orangememocoachinghub
Calculate your startup costs
How much money will it take to start your small business? Calculate the startup costs for your small business so you can request funding, attract investors, and estimate when you’ll turn a profit. Calculate your business startup costs before you launch The key to a successful business is preparation. Before your business opens its doors,Continue reading “Calculate your startup costs”
Why Thank-You ‘Cards’ Never Go Out of Style
Sometimes it’s the little things that make a big difference, especially in your job search. You’d be surprised at how many candidates forget ‘common’ courtesies throughout the interview process, even when they know that making a great first impression is crucial. Remember, just as you are interviewing the company to make sure they are aContinue reading “Why Thank-You ‘Cards’ Never Go Out of Style”
Break-Even Point
The break-even point is the point at which total cost and total revenue are equal, meaning there is no loss or gain for your small business. In other words, you’ve reached the level of production at which the costs of production equals the revenues for a product. For any new business, this is an important calculation in yourContinue reading “Break-Even Point”
The Secret to Happiness Is Helping Others
There is a Chinese saying that goes: “If you want happiness for an hour, take a nap. If you want happiness for a day, go fishing. If you want happiness for a year, inherit a fortune. If you want happiness for a lifetime, help somebody.” For centuries, the greatest thinkers have suggested the same thing:Continue reading “The Secret to Happiness Is Helping Others”
Pick a Business Plan that works for you
What is a Business Plan? A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time frame for the achievement of the goals. Pick a business plan format that works for you There’s no right or wrong way to write a business plan.Continue reading “Pick a Business Plan that works for you”
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Porter’s Five Forces
What are the Porter’s Five Forces? Supplier power: this force is an assessment of how easy it is for suppliers to drive prices up. It’s typically completed by determining the number of suppliers who can offer the same supply, the cost of switching suppliers, and any unique aspects of benefits the supplier can offer. Buyer power: Next,Continue reading “Porter’s Five Forces”
Competition Analysis
Use competitive analysis to find a market advantage Competitive analysis helps you learn from businesses competing for your potential customers. This is key to defining a competitive edge that creates sustainable revenue. Your competitive analysis should identify your competition by product line or service and market segment. Assess the following characteristics of the competitive landscape:Continue reading “Competition Analysis”
Market Research
Use market research to find customers Market research blends consumer behavior and economic trends to confirm and improve your business idea. It’s crucial to understand your consumer base from the outset. Market research lets you reduce risks even while your business is still just a gleam in your eye. Gather demographic information to better understandContinue reading “Market Research”
Gugu Motsoeneng 