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Business Strategy

The latest business strategy articles, advice and insights from the ProfileTree team.

GDPR Compliance Checklist for Small Businesses

Eman SamehEman Sameh // 25th April 2024

As small business owners, we’re constantly navigating the complex landscape of GDPR compliance regulations. One of the most significant changes in data privacy regulations in recent years has been the introduction of the General Data Protection Regulation (GDPR). Aimed at protecting the privacy and personal data of individuals within the European Union, the GDPR has […]

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Understanding GDPR: Essentials for Web Managers

Eman SamehEman Sameh // 25th April 2024

As web managers, we understand the critical importance of data protection and privacy in today’s digital landscape. The General Data Protection Regulation, commonly known as GDPR, is the cornerstone of data protection in the European Union. It sets forth stringent guidelines on how personal data should be handled, aiming to empower individuals with greater control […]

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Cybersecurity Fundamentals: Essential Strategies for a Safer Workplace

Eman SamehEman Sameh // 25th April 2024

In the digital age, the significance of cybersecurity fundamentals cannot be overstated. As businesses continue to migrate their operations online, the threat posed by cyber-attacks intensifies. Therefore, it is crucial to ensure that all staff members are well-versed in web security best practices. By educating our employees, we turn our human resources into the first […]

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How to Measure the ROI of Your AI Investments: A Quantitative Approach

Eman SamehEman Sameh // 24th April 2024

Measuring the return on investment (ROI) for AI investment initiatives is a strategic priority for businesses looking to capitalise on this powerful technology. To fully understand the value that AI brings, it’s essential to consider not just the financial gains but also the broader business enhancements it facilitates. We look at the initial costs, which […]

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The Power of Online Surveys: Effective Strategies for Small and Medium Enterprises

Eman SamehEman Sameh // 24th April 2024

Online surveys have emerged as a powerful instrument for small to medium-sized enterprises (SMEs) to gain critical insights that drive their business strategies. With the advance of digital transformation, these tools offer SMEs a cost-effective way to evaluate the customer experience, understand market trends, and make data-driven decisions. By leveraging online surveys, businesses can engage […]

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Fleet Management Statistics 2023 to 2024

Panseih GharibPanseih Gharib // 22nd April 2024

In today’s competitive landscape, optimising fleet operations is no longer a luxury; it’s a necessity. Businesses with vehicle fleets, from delivery services to construction companies, face constant pressure to reduce costs and improve efficiency. Fleet management statistics provide a treasure trove of insights, offering a clear view of driver behaviour, fuel consumption, maintenance needs, and […]

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The Numbers Game: Examples of Statistics in Business!

Esraa MahmoudEsraa Mahmoud // 21st April 2024

In the fast-paced world of commerce, decisions are the currency of success. But where does the confidence to make those critical choices come from? Intuition certainly plays a role, but for businesses that thrive, data is king – and examples of statistics in business are its loyal advisors. Statistics are often relegated to the realm […]

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The Engine of Economy: Unveiling Small Business Growth Statistics!

Esraa MahmoudEsraa Mahmoud // 24th April 2024

The United Kingdom’s economic landscape thrives on its small businesses’ relentless drive and innovation. These corner shops, tech startups, and local cafés fuel our communities and create a significant portion of the nation’s jobs and wealth. But how exactly are small businesses faring in today’s dynamic environment? This article delves deep into the latest statistics […]

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Unveiling the Powerhouse: Media and Entertainment Industry Statistics!

Esraa MahmoudEsraa Mahmoud // 24th April 2024

The media and entertainment industry pulsates with the heartbeat of our ever-changing world. From blockbuster films to captivating video games, it shapes our leisure, informs our perspectives, and fuels our imaginations. But beneath the glitz and glamour lies a complex web of evolving consumer habits, technological disruptions, and shifting revenue streams. This article delves into […]

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Business Plan Statistics: What You Need to Know to Create a Winning Plan

Miral NassarMiral Nassar // 18th April 2024

Knowing the worth of a well-structured business plan might cause you some bother. You’re not on your own there. We’ve trodden down that path to explore whether planning genuinely influences success and discovered some astonishing truths: businesses armed with a strategic plan are 152% more likely to flourish. In this article, we will unfurl compelling […]

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Statistically Speaking: Small and Large Businesses – Who Drives the Economy and Why?

Miral NassarMiral Nassar // 25th April 2024

In today’s dynamic economic landscape, the interplay between small and large businesses significantly shapes the economic pulse of nations worldwide.  In this article, we will delve into the latest small business statistics for 2024, understand the importance of business size in economic contribution, explore the challenges and opportunities for small business owners, examine the support […]

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Understanding Small Business Failure Rates and How to Avoid Them

Miral NassarMiral Nassar // 22nd April 2024

Understanding the reasons behind small business failure rates is essential for aspiring entrepreneurs to avoid making the same mistakes. Starting a small business can be an interesting and rewarding venture, but the unfortunate reality is that many small businesses fail within their first few years of operation. In this article, we will explain the common […]

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EU Digital Single Market Strategies: Navigating Regulatory Frameworks and Cultural Diversity

Eman SamehEman Sameh // 25th April 2024

In the dynamic landscape of digital transformation, the European Union stands as a testament to structured evolution and strategic integration, addressing not only the economic sphere but also societal impacts and legislative underpinnings. We recognise the significance of aligning digital strategies with the unique framework and regulations set by the EU. Our focus on creating […]

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Property Management Industry: Statistics and Trends

Miral NassarMiral Nassar // 19th April 2024

Property management is a dynamic and rapidly evolving sector critical to the real estate market. From residential to commercial properties, property managers are responsible for ensuring their assets’ efficient and profitable operation.  In this article, we will explain the statistics and trends shaping the property management industry, providing insights into the current landscape and future […]

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Leveraging Local Festivals and Events for Marketing in Asia: A Strategic Approach

Aya RadwanAya Radwan // 16th April 2024

Leveraging local festivals and events for marketing in Asia is an innovative way to tap into the continent’s flourishing consumer markets. With its vibrant culture and rich tradition of festivals, Asia presents unique opportunities for brands to forge deep connections with their audiences. Personalised experiences are highly effective, particularly those incorporating local festivals and traditions […]

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Cross-Cultural Marketing Strategies in Asia: Navigating Regional Diversity

Aya RadwanAya Radwan // 16th April 2024

Navigating the intricate landscape of Asian markets requires a deft understanding of cross-cultural marketing strategies. This approach is not just about translating content from one language to another; it’s about tailoring messages, campaigns, and products to resonate deeply with diverse cultural groups. With its rich tapestry of cultures, languages, and customs, Asia presents unique challenges […]

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The Best Websites for Business Statistics

Miral NassarMiral Nassar // 19th April 2024

In the ever-evolving business landscape, staying updated on trends and business statistics is crucial for success. With many websites offering a wealth of data, knowing where to turn for the most reliable and comprehensive information can be overwhelming. In this article, we have curated a list of the best websites for business statistics to help […]

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How To Use Facebook For Business 101: The Amazing Facebook Masterclass

Claire MulliganClaire Mulligan // 16th April 2024

In July 2023, ProfileTree delivered a live webinar on how to use Facebook for business. As the most popular social media platform in the world, Facebook presents an amazing opportunity for businesses of all sizes to promote their products and services on a global scale. Social media has proven to be an outstanding marketing tool […]

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Is Your Nonprofit Email Working? Statistics to Win Donors

Miral NassarMiral Nassar // 13th April 2024

Nonprofit organisations use effective nonprofit email strategies to engage supporters, drive donations, and raise awareness for their cause. In this article, we will show the importance of email marketing for nonprofit organisations and provide statistics to support the effectiveness of email campaigns in the nonprofit sector. With the right strategy, nonprofit organisations can reach their […]

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Strengthen Your Strategies: The Fundamentals of SWOT Analysis

Miral NassarMiral Nassar // 12th April 2024

In today’s competitive business environment, it is important to continually evaluate and improve their strategic plans to stay ahead of the game. SWOT analysis is an effective mechanism for this purpose, which helps organisations identify their strengths, weaknesses, opportunities, and threats. By conducting a thorough SWOT analysis, businesses can better understand their internal capabilities and […]

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Hidden Gems: Surprising Statistics About Asset Management

Miral NassarMiral Nassar // 14th April 2024

Asset management is an important financial planning and strategy section for individuals and organisations. It involves systematically handling a company’s physical assets, identifying their value, and monitoring their lifecycle. This article delves into the surprising statistics and trends within the asset management industry, emphasising its global impact and the role of technology in shaping its […]

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A Robust Guide to Statistics for Management and Economics

Miral NassarMiral Nassar // 14th April 2024

Statistics play a crucial role in modern management and economics, providing valuable insights into data that can guide decision-making and drive success. This article will review the fundamental principles of statistics and how they can be applied in these fields. From data collection and analysis to hypothesis testing and regression modelling, this guide will equip […]

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Facilities Management Stats: Market Size & Future

Panseih GharibPanseih Gharib // 7th April 2024

The ever-expanding world of facilities management is much more than just keeping the office lights on. It’s a complex and crucial industry that ensures the smooth operation of buildings and workplaces of all shapes and sizes. But how big is this industry? And where is it headed? In this blog article, we’ll delve into the […]

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Emergency Management by Statistics: For a Resilient Future

Miral NassarMiral Nassar // 22nd April 2024

Emergency management has a massive role in ensuring the safety and resilience of areas in the face of natural disasters, pandemics, and other emergencies. Understanding the key statistics and data that inform emergency management strategies is essential for effectively preparing for and responding to these events.  This article will explore the critical numbers and metrics […]

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Document Management Statistics for Efficiency

Panseih GharibPanseih Gharib // 9th April 2024

In today’s fast-paced business world, inefficiency can be the enemy of success. Yet many companies need help with a surprising archaic problem: paper-based document management. From skyrocketing costs associated with filing, printing, and lost documents to wasted employee hours spent searching for misplaced files, the traditional paper trail significantly reduces productivity and profitability. Thankfully, there’s […]

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Data-Driven Product Management: Statistics to Boost Your Success

Miral NassarMiral Nassar // 8th April 2024

In today’s rapidly evolving business landscape, data-driven decision-making is becoming increasingly crucial for product managers looking to drive success and innovation. By checking the power of data analytics, product managers can gain important information about customer behaviour, market trends, and product performance, empowering them to make more informed decisions that drive results. This article will […]

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The Power of Streamlining: Business Process Management Statistics!

Esraa MahmoudEsraa Mahmoud // 22nd April 2024

In today’s dynamic business landscape, efficiency reigns supreme. Companies constantly seek ways to optimise workflows, reduce costs, and boost customer satisfaction. This is where Business Process Management (BPM) steps in. By meticulously analysing and improving existing processes, Business Process Management empowers organisations to function at their peak potential. But what does the data say about […]

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Managed Service Providers: Statistics Fueling the Industry Boom

Miral NassarMiral Nassar // 11th April 2024

Managed Service Providers (MSPs) play a pivotal role in the ever-expanding landscape of technology services. These providers offer businesses a range of managed services, allowing them to outsource various IT functions and processes. This article delves into the world of MSPs, exploring their operations and the key factors fueling their growth. What are Managed Service […]

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Top 5 Reasons Why Companies Go Bankrupt

Noha BasionyNoha Basiony // 22nd April 2024

In the ever-fluctuating landscape of global commerce, the fate of companies ebbs and flows with the currents of market forces. While some businesses thrive and flourish, others find themselves navigating treacherous waters, struggling to stay afloat amidst financial turmoil. Bankruptcy, once considered a rare occurrence, has become an increasingly common phenomenon in today’s volatile economic […]

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Public Service Statistics: Making Numbers Meaningful

Panseih GharibPanseih Gharib // 22nd April 2024

The world of public service is complex, demanding effective policies and efficient resource allocation. But how do we ensure our decisions positively impact the communities we serve? This is where statistics come in. By transforming raw data into actionable insights, statistics empower public managers and policy analysts to make data-driven decisions that address public needs. […]

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Unlock the Power of Data: Case Management Statistics You Need to Know!

Esraa MahmoudEsraa Mahmoud // 15th April 2024

Frustrated by sluggish case resolution times? Feeling overwhelmed by a mountain of unprocessed cases? Imagine a world where data empowers you to streamline workflows, slash costs, and achieve stellar client outcomes. That’s the magic of case management statistics! Case management is no longer just about juggling files and deadlines in today’s data-driven world. It’s about […]

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What Is Organisational Emergency Management?

Noha BasionyNoha Basiony // 15th April 2024

In today’s unpredictable world, emergencies can strike at any time, threatening the safety of employees, disrupting operations, and jeopardising an organisation’s reputation. From natural disasters to fires, technological breakdowns, and even security breaches, the consequences of being unwatchful for such events can be devastating and totally cripple the business. In such a context, being prepared […]

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Business Management and Statistics: The Winning Formula for Success!

Esraa MahmoudEsraa Mahmoud // 16th April 2024

In today’s competitive business landscape, intuition just isn’t enough. Imagine having a secret weapon: a powerful tool that unlocks hidden insights, predicts customer behaviour, and guides you towards strategic triumphs. This weapon? The dynamic duo of Business Management and Statistics. Effective business management keeps your company running smoothly, but statistics provide the missing piece – […]

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Revenue Cycle Management Statistics: How To Make Your Revenue Cycle Thrive!

Esraa MahmoudEsraa Mahmoud // 16th April 2024

Imagine the financial strain: denied claims piling up, slow collections crippling cash flow, and administrative costs eating away at your bottom line. This is the harsh reality for many healthcare providers in the UK who are struggling with inefficient revenue cycle management (RCM). In today’s complex healthcare landscape, where reimbursements constantly evolve, and margins tighten, […]

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Key Workplace Conflict Statistics: Insights for 2024

Panseih GharibPanseih Gharib // 16th April 2024

Workplace conflict is a common occurrence that can significantly impact organisational productivity and employee well-being. It encompasses disputes, disagreements, and tension among individuals in a work setting. In 2024, understanding workplace conflict dynamics is crucial for effective conflict resolution and management. From the frequency of interpersonal clashes to the financial toll of unresolved disputes, the […]

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A Deep Dive into the World of Business Aviation Statistics

Miral NassarMiral Nassar // 22nd April 2024

In modern aviation, where efficiency, luxury, and adaptability intersect, the business aviation sector stands as a dynamic and integral component. Over recent years, this industry has experienced remarkable growth, marked by a surge in private jet travel and a steady expansion of business aircraft deliveries. As we embark on a deep dive into business aviation […]

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Business Strategy Insight

To be able to set up, develop and grow a successful business, regardless of the industry ─ a good business strategy is vital. Whether you’re looking to set new business priorities, outline plans for growth, determine a product roadmap or plan your investment decisions, you’ll need a strategy. Most businesses start small and stay there.

But if that’s not good enough for you — or if you recognize that staying small doesn’t necessarily guarantee your business’s survival — there are examples of companies out there that have successfully made the transition from start-up to small business to fully-thriving large business. Coming to the realisation that your organisation needs one is easy. However, creating an actual strategy is a little trickier.

While it may sound a bit daunting, iterating like this actually makes strategy easier. It will save you from endless visioning exercises, misdirected SWOT (the Strengths, Weaknesses, Opportunities, and Threats) analyses, and lots of heroically uninformed big thinking. Crafting your strategy in relatively small and concrete chunks and honing the answers to the five questions through iteration will get you a better strategy, with much less pain and wasted time.

Questions to ask when building a business strategy:

  • Why are you here?
  • What is your USP (Unique Selling Proposition)?
  • Who is your perfect customer?
  • Why buy from you?
  • What is your go-to marketing strategy?
  • Who are you focusing on?
  • What is your pricing?

In follow-up meetings to discuss your progress, it’s also important to revisit your action plan regularly and to continually update it. Allowing your action plan to be surpassed by developments in your company is a sure way for it to go above and beyond.