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The Essential Component of a Business Plan: Products and Services

The Essential Component of a Business Plan: Products and Services

The products and services section is one of the most important components of your business plan. This is where you explain how people use your product or service, and what makes it different from the other products available in the market. Identify the features and benefits of your product and discuss what problems or needs they solve in the market, and what sets it apart from those of your competitors. The Essential Component of a Business Plan: Products and ServicesIf your business plan is to be used for a financing proposal, you have to explain in this section how the ...

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Competitive Challenges

Competitive Challenges

Addressing competitive challenge is very important because it shows that you understand your marketplace – that you understand your customers and the way that your customers think. Competitive ChallengesAs the entrepreneur, you think that your product and your service is the best, and that you are offering your customers a great thing. What you need to do is to look at your products and services from the point of view of your customers. Customers don’t care about you or about the products and services that you offer. Customers have one thing on their mind when they decide to buy a ...

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Size Up the Competition

Size Up the Competition

As an entrepreneur, it is vital that you create a business plan. A good business plan helps you identify the strengths and weaknesses of your business so you can focus on the strengths and fix the problems that contribute to the weaknesses. It can help you outline your financial needs by showing you where money is needed and how long it takes before profits are expected. And when you need more capital, a business plan is what investors, or lenders want to see. Size Up the CompetitionA business plan helps you evaluate the market for your product or service, and ...

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How to Write a S.W.O.T. Analysis

How to Write a S.W.O.T. Analysis

The world of business has always been known to be a place where only the tough one survives. It is not a field for those with a weak heart, especially for those who do not want to take any risks. When we talk about risks that a business needs to take, it must be well calculated with all relevant factors taken into consideration. How to Write a S.W.O.T. AnalysisEvery business needs to undergo S.W.O.T. analysis which measures the company’s strength, weaknesses, opportunities, and threats. This is not always part of the business plan because many companies are just after wooing ...

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Business Plan: Ensuring Market Stability

Business Plan: Ensuring Market Stability

Every businessman faces the challenge of acquiring investors and business partners that will financially help the company in terms of new development or expansion. They are considered as the company’s life support. Without them, it will be hard to get the company on where it wants to go due to the limited funding and resources. Business Plan: Ensuring Market StabilityWhen dealing with investors and prospect business partners, it is important to keep in mind that they live in the same planet as you do. They, like you, keep tune to the news from various mediums regarding the status of the ...

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Targeting the Right Customers

Targeting the Right Customers

The heart and soul of every business is not the product that it produces but the people who patronize the product, or what we refer to as customers. Without them, the business would cease to exist. As the famous saying goes, customers are always right. The bigger the target market, the bigger chance of high profit. Targeting the Right CustomersAfter having presented an existing problem or scenario that the product or service would like to address, it is then time to present who it is for. The first step is describing the kind of audience that may buy the product, ...

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Market Segmentation: A “Group Yourselves Into” Game

Market Segmentation: A “Group Yourselves Into” Game

Undoubtedly, 100% of the time, a business’ end goal is to be profitable. No one ventures into the grueling world of business without wanting to earn. Numerous factors contribute to business success. One of them is by knowing your target market, and eventually, formulating specific approaches best tailored for it. For your tycoon dreams to materialize, it is important that you take time to assess who your products or services are aimed at. Knowing this enables you to strategize and come up with ways on how to effectively lure your target clients into a purchase. Market Segmentation: A “Group Yourselves ...

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Great Breastfeeding and Pumping tips for Optimizing Your Milk Supply

Great Breastfeeding and Pumping tips for Optimizing Your Milk Supply

Breast milk is considered by health professionals as the best choice for infants up to two years old. Economically convenient, rich in nutrients and antibodies and a promoter of mother-and-child bonding, it is important in the growth and development of your child. When a woman finds that she cannot fill the daily needs of her child at all times, a breast pump is bound to come in handy. A breast pump is an apparatus that allows the mother to extract milk from her breast. It can give you a great amount of milk in a moment’s time and then store ...

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Can I Still Breastfeed When I’m Sick?

Can I Still Breastfeed When I'm Sick?

A lot of new mothers who become sick often ask their doctors the same question. They want to know if it is safe for them to keep on breastfeeding their babies. They worry that the illness that they are suffering from will be transmitted to their babies through their milk. If you are one such mother, it is wise for you to learn as much as you can about this topic, before you stop breastfeeding all together. Why Breastfeeding is Still Great Even When You Are SickBreastfeeding is actually still a great idea even if you are sick. For example, ...

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Why Should All Singaporean Real Estate Agents Work Together

Why Should All Singaporean Real Estate Agents Work Together

Being in the real estate industry can be very demanding, as it is a very competitive place to be in. Every property agent is on the lookout for that one interesting client, and it is only a matter of who convinces who first, and in good fashion. On the other hand, since the real estate market here in Singapore is very lucrative, it is also advisable for every agent to better stand united and work hand in hand. Since you all are working towards the common goal of providing quality homes to our countrymen, a joint collaboration and cooperation might ...

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