My previous blog identified the five competitive forces developed by Harvard professor Michael Porter, which should be addressed in every business plan. This blog profiles each of these forces.
Starting a Business
Introducing our comprehensive guide on registering a business name in Montana! Whether you’re an enthusiastic entrepreneur or looking to expand your operations into the beautiful state of Big Sky Country, it’s crucial to ensure legal compliance and establish a strong brand identity through proper business name registration. In this guide, we will walk you through …
Introducing the ultimate guide to registering a business name in Alabama! Whether you’re launching a fresh endeavor or seeking to legitimize an existing one, it’s essential to go through the process of registering your business name to establish your presence within the state. In Alabama, you have various options, such as creating an LLC or …
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Rental properties are a great way to earn income either full-time or on the side. However, some states are better than others regarding returns on these types of investments. This article looks at the 10 best states to buy investment property this year (and the worst states for real estate). 1. South Carolina One of …
Guest post from Jack Hoban. What are Values? According to the dictionary, values are “things that have an intrinsic worth in usefulness or importance to the possessor,” or “principles, standards, or qualities considered worthwhile or desirable.” However, it is important to note that, although we may tend to think of a value as something good, …
Many people are used to reading or hearing of the moral benefits of attention to business ethics. However, there are other types of benefits, as well. The following list describes various types of benefits from managing ethics in the workplace. 1. Attention to business ethics has substantially improved society. A matter of decades ago, children …
Complete Business Planning Guide with Extensive Resources Copyright Carter McNamara, MBA, PhD. NOTE: Your business plan should be highly customized to your current organizational situation. Thus, using a generic business plan template could completely misrepresent the needed focus of your business plan. (This step-by-step manual is a complement to the topic How to Start Your …
Business ethics in the workplace is about prioritizing moral values for the workplace and ensuring behaviors are aligned with those values — it’s values management. Yet, myths abound about business ethics. Some of these myths arise from general confusion about the notion of ethics. Other myths arise from narrow or simplistic views of ethical dilemmas. …
Whether you’re starting a new business or converting an existing company to a limited liability company (LLC), the best LLC services can make it easy to do. Typically, LLC business formation services offer assistance with paperwork, filing, and registered agent services. We’ve gathered the top online LLC services according to what we think they do …
The LLC formation process can be complicated and time-intensive, especially if you are unsure about the regulations and laws that apply. This MyCompanyWorks review shows how the LLC service simplifies and speeds up this process. It’s a good choice for aspiring entrepreneurs who want to dodge the hassle of dealing with tons of legal paperwork. …
As the name suggests, Northwest Registered Agent at its core is a registered agent service, but in this review of Northwest Registered Agent you’ll see it offers a lot more. If you want to start an LLC, having a registered agent is a must to handle government, tax, and legal matters on your behalf. You …
Rental properties are a great way to earn income either full-time or on the side. However, some states are better than others regarding returns on these types of investments. This article looks at the 10 best states to buy investment property this year (and the worst states for real estate). 1. South Carolina One of …
Forming a business can be a challenging process, made more confusing by tricky terminology. A DBA can benefit any business structure if you understand how one works. This article takes a look at DBA meaning and the ways to use a DBA to set your company apart from the competition. Use ZenBusiness to facilitate the …
Are you looking for the best type of business to quickly start your own company and finally ditch your traditional 9-to-5 job? The market is growing and expanding due to changing trends, so if you have the ambition to start a new business in 2023, we’ve wrapped up the five types of business that will …
No matter which state you’re starting a limited liability company (LLC) in, you’ll need a unique name to do business with. States will not let you use a designation already taken by another business entity. Read on to discover how an LLC name search can facilitate this process. Check out ZenBusiness for all the tools …
Something as small as a business name can have a monumental impact on your success. The right name can bring in more customers than you thought possible, whereas the wrong name can effectively shut you down. Read on to discover how to come up with a business name that sets you apart from the competition. …
In today’s ever-changing business landscape, staying ahead of the curve and identifying the most promising business opportunities is crucial. Whether you’re a seasoned entrepreneur or a budding startup enthusiast, finding the right business idea can make all the difference in your success. To help you navigate the market, we have compiled a list of the …
In the fast-paced and ever-evolving business world, staying informed about the latest trends, insights, and strategies is crucial for entrepreneurs, executives, and professionals. While numerous sources of information are available, business newsletters have emerged as a popular and convenient way to receive curated content directly in your inbox. These newsletters provide valuable knowledge and save …
Are you an entrepreneur seeking valuable insights, inspiration, and strategic ideas from industry experts? Look no further! We have compiled a list of the 32 best business podcasts to help you stay up-to-date with the latest trends, learn from successful entrepreneurs, and grow your business. Whether you’re a startup founder, a small business owner, or …
Guest post from Jack Hoban. What are Values? According to the dictionary, values are “things that have an intrinsic worth in usefulness or importance to the possessor,” or “principles, standards, or qualities considered worthwhile or desirable.” However, it is important to note that, although we may tend to think of a value as something good, …
Many people are used to reading or hearing of the moral benefits of attention to business ethics. However, there are other types of benefits, as well. The following list describes various types of benefits from managing ethics in the workplace. 1. Attention to business ethics has substantially improved society. A matter of decades ago, children …
Business ethics in the workplace is about prioritizing moral values for the workplace and ensuring behaviors are aligned with those values — it’s values management. Yet, myths abound about business ethics. Some of these myths arise from general confusion about the notion of ethics. Other myths arise from narrow or simplistic views of ethical dilemmas. …
The following guidelines ensure the ethics management program is operated in a meaningful fashion: 1. Recognize that managing ethics is a process. Ethics is a matter of values and associated behaviors. Values are discerned through the process of ongoing reflection. Therefore, ethics programs may seem more process-oriented than most management practices. Managers tend to be …
It’s ironic that a word like “transparency” can have several confusing meanings, even in a business context. While transparency as a concept is often most visible in the realm of social responsibility and compliance, its real benefit is when it’s seen as a business priority. Transparency is about information. It is about the ability of …
What’s an Ethics Management Program? Organizations can manage ethics in their workplaces by establishing an ethics management program. Brian Schrag, Executive Secretary of the Association for Practical and Professional Ethics, clarifies. “Typically, ethics programs convey corporate values, often using codes and policies to guide decisions and behavior, and can include extensive training and evaluating, depending …
As opposed to offering opinions without having all of the background and knowledge, I thought it might be more helpful to start a discussion about the questions: Many people have written that Toyota’s problem was that it sacrificed a core value of safety for profit. To frame the issue this generally is to miss the …
Let’s Start With “What is ethics?” Simply put, ethics involves learning what is right or wrong, and then doing the right thing — but “the right thing” is not nearly as straightforward as conveyed in a great deal of business ethics literature. Most ethical dilemmas in the workplace are not simply a matter of “Should …
Whether you’re starting a new business or converting an existing company to a limited liability company (LLC), the best LLC services can make it easy to do. Typically, LLC business formation services offer assistance with paperwork, filing, and registered agent services. We’ve gathered the top online LLC services according to what we think they do …
The LLC formation process can be complicated and time-intensive, especially if you are unsure about the regulations and laws that apply. This MyCompanyWorks review shows how the LLC service simplifies and speeds up this process. It’s a good choice for aspiring entrepreneurs who want to dodge the hassle of dealing with tons of legal paperwork. …
As the name suggests, Northwest Registered Agent at its core is a registered agent service, but in this review of Northwest Registered Agent you’ll see it offers a lot more. If you want to start an LLC, having a registered agent is a must to handle government, tax, and legal matters on your behalf. You …
Registering your own business doesn’t have to be daunting. Business registration services exist to streamline the process from start to finish while keeping everything compliant down the road. The best business registration services can file business formation documents for you, provide registered agents, and prepare your annual reports. Best Business Registration Services ZenBusiness – Best …
IncFile makes it easy for you to form a new LLC or convert your existing business into one, thanks to its budget-friendly pricing, ease of use, and LLC registration features. In this IncFile review, we will explore the pros, cons, pricing, and features of the IncFile LLC service. Continue reading to find out whether it’s …
The process of forming a corporation or LLC (Limited Liability Company) can be complex and time-intensive. Fortunately, an online business formation service like ZenBusiness can make the process easier. In this ZenBusiness review, you’ll learn what else it offers beyond easy-to-use LLC services and competitive pricing. Our Verdict ZenBusiness at a Glance ZenBusiness has a …
Inc Authority makes it possible for you to set up a limited liability company (LLC) for free. It simplifies the business registration process through its extensive LLC formation services, excellent customer support, and affordability. In this Inc Authority review, we cover its pros, cons, pricing, and features. Find out if the Inc Authority LLC service …
After registering your business as an LLC, you have one more crucial decision to make. It’s whether you want to set up your management structure as a member-managed LLC vs manager-managed LLC. A member-managed LLC means the owners have combined control over business decisions. On the other hand, a manager-managed LLC assigns one or more …
Complete Business Planning Guide with Extensive Resources Copyright Carter McNamara, MBA, PhD. NOTE: Your business plan should be highly customized to your current organizational situation. Thus, using a generic business plan template could completely misrepresent the needed focus of your business plan. (This step-by-step manual is a complement to the topic How to Start Your …
Developing strategy takes time and resources. It requires the time and commitment of some of the most highly paid and highly experienced people in your organization. So, if your team isn’t willing to invest what is needed, I recommend that you don’t do it. Poor planning is often worse than no planning at all. So, …
How One Typical Facilitator (Mistakenly) Concluded the Client Wasn’t Doing Strategic Planning I got a call last week from a facilitator, asking for advice about an aspect of strategic planning. He kept asserting that his client, a manufacturer of outdoor recreational equipment, wasn’t doing strategic planning. I asked how he came to that conclusion. He …
As the strategy leader, you have seven activities to which I recommend you pay close attention to build a strong strategy that has full buy-in and commitment. Gain your team’s commitment and buy-in to the process If your leadership team members are like most with whom I have worked, they are stretched for resources and …
The historian Alfred Chandler of Harvard Business School wrote a seminal book published in 1977 on the history of strategic decision making at the highest levels of Corporate America , including DuPont, General Motors, Standard Oil and Sears Roebuck. The book was called The Visible Hand: The Managerial Revolution in American Business. In this work …
Legal Structures of Organizations Legal Forms and Traditional Structures of Organizations Market Research — Inbound Marketing Planning Your Research Market Research Find and Feed the Feeling Strategizing Understanding Strategy and Strategic Thinking Competitor Analysis Porter’s Five Competitive Forces (Part I) Porter’s Five Competitive Forces (Part 2) Competitive Intelligence Product Planning Product Management E-Commerce Sales and …
There is often a great deal of confusion about the difference between business plans and strategic plans. And, frankly, they are similar in many ways, and since each plan has to be tailored to the organization it is prepared for, one can easily blur into the other. In both cases, you begin with internal and …
The principles of strategy are timeless. The following notes on the essentials of strategy are drawn from the great works of strategy… Sun Tzu’s The Art of War, Napoleon’s Maxims, Clausewitz’ On War. Though dating up to 2,500 years ago, the advice of these strategists is helpful today no matter your competitive landscape, from high …
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A reporter came to interview Mahatma Gandhi one day. It turned out this was his day of silent fasting, but the reporter still insisted on getting Gandhi’s message to the world. Ghandi wrote: My Life Is My Message. In a business world where many hours and dollars are often spent crafting that perfect positioning statement …
One of the main reasons companies go out of business is for lack of cash. These companies may even be growing, successful in the market — but they run out of cash. Don’t let this happen to you. Make sure you prepare cash flow projections on a regular basis. One time of great risk is …
The bank wants a business plan. You have collected all the information on the external environment, company strengths and weaknesses. You thoroughly understand the market and financial rationale for starting or expanding your business. Maybe that wasn’t wasted time… Now it’s time to put the plan together. Typically the business plan will start with a …
(See Part 1 of 2) Relationship Model Steven Block proposes a model that, instead of having a rigid, top-down structure of roles and hierarchy of the traditional policy model, provides for Board and staff members to work together with great priority on generating relationships and value from those relationships. The Executive Director and staff play …
I just spoke with a bank manager yesterday about how his clients do not have well thought out plans for starting a business or expanding a business. So, I thought I’d help you out here. There are some standard questions the bank will ask: – Do you have experience in the industry? – Does your …
When the Lead Independent Director role was first introduced it was viewed with suspicion. Now, in companies where the incumbent has performed well, it is viewed as an essential component of board success.
Creating a business plan takes a lot of time. But you can get help. Consultants can be valuable, but to save money, find out if there’s a qualified college intern who could carry some of the load. Many college courses require students to participate in internships. With the right intern and a carefully structured project, …