Small business owners often struggle to retain their most competent workers. Why do good employees leave? It is true that some employees quit for better-paying jobs or to join a company that offers them the opportunity to utilize their specialized skills. But there are many who leave simply because they are not happy in their current job.read more
Question 3: How well do our services fit in the market? Is it possible to create a new market for our services?
In this third part of our market assessment series, we’ll talk about the importance of a company’s products or services “fitting” in the new market. Will Caldwell, founder and CEO Dizzle explained on Entrepreneur Magazine that it is a challenging and time consuming process that requires businesses to get a deep understanding of their target market.read more
Getting your loan application approved by a bank is not easy. After the great financial crisis of 2008, banks have tightened their credit norms and instituted a practice of scrutinising each request for funds very carefully. Consequently, small businesses find it increasingly difficult to obtain a bank loan or a line of credit.read more
Question 2: Conservatively speaking, how much market share can we take and what’s that worth to our company in terms of finance and other factors?
This is the second post of our market assessment series that explores the questions a company must ask when analyzing a new market. In the first post, we talked about the importance of knowing a market’s current and potential size.
Moving on, we’ll now look into the importance of ascertaining how much share a company can take in a new market in which it is planning to expand.read more