Small businesses have always faced unique challenges in the marketplace, and today’s rapidly changing business landscape has only made things more complex. To stay competitive and grow in this environment, small businesses need to be aware of the trends and forces shaping the future of the industry.
The biggest problem for small- to medium-sized businesses can be summed up in three parts: they’re not strategic, they’re not analytical, and they’re not systematic.
Here we will focus on the strategic aspect of running your business.
Most business owners get strategy and tactics confused and I think this is the main reason why they don’t achieve the results they want.
As a Business Owner of a small to medium enterprise, it is just as important to develop & maximise your brand for you & your organization as it is for a large national or international corporation.
Most people understand that the 80/20 rule means that 80% of your sales will come from 20% of your customers or that 80% of your results come from 20% of your efforts.
But the real power of the 80/20 comes from understanding the 80/20 of your initial 80/20.