How to Analyze a Business Environment

A business environment analysis involves collecting and then interrogating data so that you can produce a report that identifies potential threats from external factors and other aspects that could impair the success of your business.

SWOT analysis

This type of report is also regularly referred to as a marketing environment analysis. It is considered something that is integral to future success as it maps out the conditions required for growth. You can use this tool to analyze business environment elements, allowing you to see the framework required to complete a successful analysis.

Meanwhile, here are some pointers on how to analyze a business environment.…

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How to Leverage a Competitor Sales Analysis to Grow Your Business

As a small business owner, you probably have mixed feelings about conducting a formal competitor sales analysis. You already generally know who your competitors are, and you’re likely aware of how their value proposition compares to yours. Is it worth the time and energy necessary to conduct a formal competitor sales analysis — and then applying those findings to your business? Absolutely.

Competitor sales analysis

Why conduct a competitor analysis? It provides an immense amount of value to your business. It lets you learn from competitors and helps ensure you’re perceived as an innovation leader. Let’s say you’re working on rolling out a new customer portal, product tweak, or service line.…

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Spending Smart by Maximizing Technological Investments

Technological investments are a part of business. Your business can spend $1 million to invest in new technology and equipment, but how will these technologies transition to profit? That’s the question.

Technology investments analysis

Increased investment doesn’t necessarily mean improved financials.

And small businesses need to know how to maximize these investments, or maybe they shouldn’t invest in certain technologies too early. Oftentimes, a small business will make an investment that keeps them cash-strapped and not able to recoup their money fast enough.

Missed opportunities can be a result of these decisions, which leads to lost financial gain.

Business Case Analysis

Subjectivity in an investment can be offset by business case analysis.…

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