If you are planning to start your own business, you should draft your business plan. It will become the blueprint for running and expanding your business. The plan will be very essential for the following four reasons. 1. Maintaining the Business Focus The business plan shows your company’s products, manpower, financial and marketing information. As […]

Although many business owners have either heard of the concept or have actually formalized a Strategic Plan, many owners and executives still have a hard time describing the overall purpose and benefit of having a well-defined strategic plan. While each organization is different on what the final outputs of a strategic plan, I have seen […]

Most business owners and startups have heard of the “Lean Startup”, a methodology by Eric Reis to help companies validate new business ideas faster, with fewer resources. The main pillars of the methodology are: 1. Build 2. Measure 3. Learn The process is an iterative cycle that speeds up product testing incorporates early user feedback, […]

There is no right or wrong way to prepare and execute a strategic plan. However, through the lessons learned of both successful and unsuccessful strategy execution, the following elements have proven critical to delivering on a successful strategy: 1) Analysis of internal and external drivers At the base of any strategic plan is a solid […]

There is lots of fuss around the future of retailing given disruptions from online businesses like Amazon.com, eBay and Alibaba.  Let’s think a bit about retailing and why do we enjoy shopping. One very obvious reasons to shop is to satisfy our needs. But what about our wants, more often we shop to satisfy wants […]

Agile — the new buzz word in modern consulting showing up everywhere. That’s because a lot of companies are experiencing success through agile production, agile startups and agile management practices. The question is — is it worth it? The agile model is not for every company. The following are some benefits and costs that you can consider before moving […]

Have you wondered if you needed a strategic plan for your business? A strategic plan isn’t just a set of rules to follow. It is a philosophical approach to growing your business. The senior management team has to be deeply involved in this process. It requires that everyone in the company understands the strategy. Sounds […]