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The business of retail today is all about serving customers, and to do that, the people behind the counter need to realize they are the culture, write the authors.
More and more successful companies are taking a holistic approach to serve specific market niches or verticals. Instead of offering a broad-based horizontal solution that may service a larger market, but require more customization and will likely involve competition from larger players, these companies are finding success 'below the radar' by staying focused on a narrower segment.
One of the best ways to grow your company is to provide your customers with such a great experience that they return again.
Customers may be motivated to purchase a product or service just by reading a price list.
This article describes a process to conduct primary market research, such as gathering information and data from customers, suppliers, vendors, as well as your own employees.
When evaluating industry potential, key considerations include its current size and rate of growth as well as profitability characteristics and trends.
Businesses that can align their product and service offerings with both their business strategy and the customers' needs will grow the strongest businesses and maintain their success in the long run.
Addressing limitations and liabilities helps entrepreneurs analyze their business's ability to produce products, deliver services, and create new products and services.
Knowing where your products or services are in their life cycle will help you make refinements or adjustments to align them with your business strategy.
Every business has some form of intellectual property and many businesses will need the help of an intellectual property attorney to sort it all out.
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