What is a business niche? This is a focused area of a broader market that all kind of business can serve to differentiate themselves from the competition. As a business owner, you should find a niche in the industry that has underserved needs. Few of the strategies you can consider are: selecting your target audience, defining the unmet needs of a particular industry, researching your customer database and creating a business plan. Whether you've been handling business for a while or you just started managing one, you mustn't be only thinking about creating a steady stream of your revenue, but you also need to be aware on how to establish a loyal audience. A solid market of a particular group of customers who will buy from your business will keep you ahead of the competition. In this episode, Bryn Harwood shares his insights about niching your business.
Business Tips to Help You Get Ahead of the Competition
It’s important for business owners to understand the ins and outs of operating a business. Read on for some business tips and best practices that you can take advantage of.
Operating your own business is very challenging. There's no guarantee that it will succeed. Some identified risks include loss of a regular paycheck, loss of personal money or not having steady cash flow at all. That's why it is essential that as a business owner, you have the right planning techniques on how to protect your business assets. The fundamental of asset protection starts with simply implementing an affordable, tried-and-tested strategy and building simple habits. The aspect of preparing your business for the greater risk is often overlooked by some business owners who are unaware of the underlying risks that can harm their business. You must understand these risks and the science behind how to deal with them. In this episode, Jason Popelier, a Business and Corporate Adviser for SMEs with over 10 years of experience, tells us more about business asset protection.
Although your company is running smoothly, you can still make things better. Ensuring the efficiency within your business will play a vital role in your future success. The more your business gets bigger, the more you have to consider several factors in keeping your settings efficient and productive. We can't avoid situations like, a project gets hung up for a few days, or some meetings that once felt productive seems to drag on for hours, but as a business owner, you have to keep in mind that getting that traction and focus back in place should be your main priority. Feedback from experts and employees are also relevant to the process. So in this episode, Sarah Steins shares her thoughts on how to stay efficient in your business.
What Is IT Lifecycle Management and Why Should You Care?
Getting people and equipment to accomplish common business goals is not an easy task. Management makes this work easier by keeping track of everything. As the digitization of business increased so did the use of technology. Keeping track of all the IT assets became mandatory for survival. In the quest for gaining technological superiority, IT lifecycle management became an area of focus.
Worldwide access to enormous and vast amounts of data has changed the business landscape. Competitive marketing depends now on knowing how to manage, process, and analyze that data. As a business owner, it is very important that you understand the path organizations which need to be taken from collecting data and how to maximizing its use.
As we all know, today’s organizations are undergoing a challenging transformation process around their technical systems. The static software platforms that might have retained, stored and processed a business’ data are no longer sustainable in the current web environment. Enterprises must need cutting-edge technology to collect big data in real-time, analyze that data, and get the information they need to stay competitive in today’s marketplace. In today's episode, Emily Ridley shares her ideas about business data revolution.
You know where this is, right? Yep. It's Mount Rushmore and this world-famous historical site is just a giant marketing stunt. They came up with the idea in the early 1920s, as a way to attract tourism to this part of South Dakota. You can't deny that it worked.