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Costs are the mandatory expenses incurred by businesses. There are different types of costs associated with each part of a business. Production, marketing, and sales are all associated with the cost of materials, labor, and other resources. Labor costs, for example, are measured in wages, raises, and benefits. These are considered direct costs. These costs…
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Creating a sales funnel is a powerful strategy for increasing your business’s conversion rate. The key is to understand the customer journey, as well as the various stages of the sales process. By creating a clear blueprint for your funnel, you can more effectively manage the sales process from beginning to end. In addition, a…
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While market research is useful for a number of purposes, it is most effective for new businesses. Aside from understanding consumer behavior, it can also help a company introduce a product. The amount of market research a company needs depends on the issue it is looking to solve. For instance, a study on Ford’s Edsel…
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If you’re evaluating a potential investment, a key question to ask is: how does it measure up to your expectations? In other words, is ROI a good thing? It’s the probability of producing a profit or gain. An investor’s return is the gain he or she obtains from investing capital. For example, if the investor…
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A Business Valuation is an independent, professional estimate of the value of a business. It is useful for a variety of purposes, including tax purposes, buying a partner out, or selling a business. The purpose and objective of the valuation are also considered. Using an outside source is not always necessary, but it is beneficial…
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A SWOT analysis is an important business planning tool. The acronym stands for strengths, weaknesses, opportunities, and threats. Each of these factors has an impact on a business and can help it decide how to best respond to them. In a nutshell, SWOT analyzes how your business is performing in terms of its strengths, weaknesses,…
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Performance measurement is a fundamental part of management, and one of the best ways to measure it is through key performance indicators (KPIs). Often, these performance measures are used to measure the success of an organization or specific activity. The following are some of the most common KPIs. Let’s take a look at some of…
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Whether you’re an experienced businessman or new to the startup world, evaluating potential investments requires both intuition and data. The most successful VCs pursue startups with a large TAM (total addressable market) because these companies are likely to generate 10-100 times the amount invested. Then they exit the company at a 10 to 100x multiple,…
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The type of company can depend on what it is used for. The main differences between public and private companies are their legal personality, the ability to sue and transfer shares, and the number of members. There are many pros and cons to each, so it is important to choose the right one for your…
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The growth of digital audio players, including MP3 players, has increased the popularity of podcasts. Many larger production companies are making shows available in languages other than English. Warner Bros. is bringing a slate of shows to SiriusXM. And while “The Office” producer Ben Silverman and his team are putting together an oral history of…
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