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Business Strategy - Page 2

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

Kotter’s 8 Step Model for Leading Change – How to effectively manage and lead change within your business

Upon researching change and understanding the most effective way to go through this process within your business environment, Kotter’s 8 Step Model has been selected as the best way to direct and implement change within your own business. 

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What is an invoice; 3 ways to create one, and why you need them for successfully managing your business

An invoice is an essential part of running a business, both for ensuring proper record keeping and for securing legal protection, but what is an invoice exactly?

In the world of business, it’s important to pay attention to your invoice process, it’s a crucial cog in the financial management process, and without one, you’re left open to a loss in profits and exposed to potential legal scrutiny.

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Porters Five Forces Explained – How to easily apply ‘the 5 competitive forces which shape an industry’

Porters Five ForcePorter’s five forces was developed by Michael Porter, a well renowned theorist in business literature, to identify and determine the level of intensity of competition for a particular business. Known as the five competitive forces which shape an industry this tool looks at;
Competitive rivalry
The threat of new entrants
The bargaining power of suppliers
The bargaining power of buyers
The threat of substitutes

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10 Best Business Movies You Need to Watch 

10 best business movies you need to watch. There is no better way to encourage that entrepreneurial thinking than watching one of the classic business movies to inspire you.

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How to Start a Podcast: 101 and everything you need to know to make it successful

how to start a podcast: 101 and everything you need to know to make it successful. Starting a podcast can seem like a daunting task, and given the success of other podcasters, it can even feel unattainable for some.

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12 Best Business Podcasts: learn from the best for business success 

12 Best Business Podcasts. The rise of podcasting has seen unprecedented growth in recent years. Audiences are tuning in on a daily basis to hear their favourite hosts and guests converse for hours about different topics. 

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Business Strategy: The ultimate guide to using a PESTEL and SWOT Analysis

A business strategy can be considered as the process of putting a plan of action in place to help you achieve a competitive advantage. The plan will consist of goals and objectives you wish to achieve to create long-term value for your business.

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What is a Contingency Plan? 7 Steps in Contingency Planning & Its Importance

What is a contingency plan? It is a plan of action that is put in place in the case of an event occuring in the future that would be harmful to the business. A contingency plan is also known as “Plan B” Or “Back-up Plan”. The saying “Fail to Prepare, Prepare to Fail” comes into […]

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How to Know When you Need an Online Marketing Agency

Online marketing agencies are success staples in today’s digital age. Without them, many of the brands you know and love would not be where they are today. In light of the COVID-19 crisis especially, there has been a notable spike in interest and investment in digital services. In the UK, adoption of online services rose […]

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How to Produce and Edit Video for Tourism Businesses

In the tourism niche, one of the great challenges is showing off what you have to offer. Specifically, you need to figure out a way to convince customers to make a long journey to use your services. One of the best ways to do this is creating video content. Hence we should focus on Video […]

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Small Business Consultation – The Complete Guide!

ProfileTree is proud to have acquired the small business consulting company SourceForConsulting.com and integrated its expertise and specialisms into its own team. We are delighted to be able to offer a range of business consultancy from marketing strategy, websites consultancy to SEO consultancy and more.  You will find the following summary of Small Business Consultation […]

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How to Become a Product Manager?

A product manager is a professional who is in charge of developing products for an organization, a role which is referred to as the practice of product management. Most employers prefer people who have prior product management experience, and it is difficult to get that experience without first becoming a product manager. In this article, […]

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What Are Essential Product Manager Skills?

Product management is more than just knowing everything you can about your product. Both soft and hard skills apply to the product manager’s ability to lead, decide, and perform their job role more effectively. In this article, we’ll look at 6 hard and soft skills you need to succeed in product management. Product Manager Soft […]

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Tourism Marketing: Your Guide to Success Within The Tourism Industry

Across different industries, most businesses acknowledge the importance of marketing. Yet, every industry has its challenges and doubts. Marketing strategies need to fit your industry like a glove. So, for those working in the tourism industry, this article will tackle everything related to the best practices of tourism marketing. Deep diving into the details of […]

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6 Do’s and Don’ts To Make Your Logo Great

A brand’s logo is more than just an image that you put on social media and your website. Your logo is truly at the heart of your entire business. It represents your brand on promotional advertisements, product packaging, and everywhere online. Your logo is how customers will recognise you, what will draw in new potential […]

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Green USPs for SMEs

In this article we will examine Green USPs for SMEs. This means Green Unique Selling Points for Small & Medium Enterprises. Recent years have seen the emergence of issues relating to the environment and sustainability being elevated throughout society. This has fundamentally changed the marketing environment in which enterprises of all sizes operate in. ‘Green […]

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9 Reasons Why Organisations Use Branding

In a communication, marketing and advertising context branding can only truly be effective if the organisation understands why they are branding. To assess why a brand is vital, organizations must ensure they consider this issue from not only their perspective but that of their consumer within relevant market segments. This should act as the strategic […]

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Retail and COVID: How to Set Up a Click and Collect Service

Over the last year, our lives have changed dramatically. As we all know, it’s been a particularly difficult period for small retailers and hospitality businesses. In fact, COVID has probably been the biggest challenge these businesses have ever faced. Many independent retailers understand the need for restrictions, but they are still aggrieved at losing out […]

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Unlocking Business Performance with Ian McClean

In a pre-Covid interview, we sat down with Ian McClean of Flow Group to talk about the value of executive coaching and business consultancy. Check it out!

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Fairstone NI: The Importance of Financial Planning

Most of us leave our financial planning efforts until it’s too late. We learn about the benefits of doing it early on with Peter Savage and Sean Larkin from Fairstone NI.

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Barbara Edwards: Coaching for Business

In times like these, each and every one of us could use a mentor – or at least a bit of coaching through difficult times. With this in mind, we sat down with Barbara Edwards, professional business coach and owner of Be Coached.

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Pandemic Marketing Advice from ProfileTree

The Covid-19 pandemic is a bit weird for everyone. We’ve tried to do our bit with some free marketing advice to suit the times – courtesy of the pros at ProfileTree.

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The Importance of Visitor Experience with Nuala Mulqueeney

The Covid-19 pandemic has shut the door on international tourism. Thankfully, we have professionals like Nuala on our doorstep.

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Growing a Social Enterprise with Garreth Falls

Times are changing, and people like Garreth Falls are championing new ways of boosting immunity. Learn more here.

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Digital Transformation for Small Businesses with Rich Dale

Digital transformation can be a complicated process – right? Fear not – Flowlen’s Rich Dale is here to help.

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Mastering Remote Working with Antonie Geerts

We sat down to conduct a remote interview with Seditio’s very own Antonie Geerts, discussing working from home and adapting to a world in lockdown.

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Discover Real Health Benefits with Natural Salt Therapy

As the ongoing coronavirus pandemic continues to spread across Europe, the topics of mental wellbeing and respiratory health have never been more pertinent. Current trends indicate that Covid-19 will change our approaches to health and lifestyle, with more and more consumers investing in products that support and enhance their wellbeing at home, both physically and […]

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Time for a Staycation: Meet the Irish Tourism Leaders

To celebrate what our country has to offer, we’ve put together a list of Irish tourism leaders transforming travel for people on the island. Check it out!

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International Women’s Day: The NI Women Transforming Your Workplace

With one of our favourite dates on the calendar coming up, we want to shine a light on the women who are revolutionising the business world. This International Women’s Day, sit back and be inspired by NI’s best and boldest. Here at ProfileTree, we’ve been lucky to host some truly inspirational women in our award-winning […]

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The Ultimate Guide to Hotel Marketing – Hospitality Made Easy

ProfileTree have devised The Total Guide to Hotel Marketing, offering valuable advice on how to market a new hotel, as well as tips on how to promote your hotel online and how to attract hotel guests. Check it out!

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360° Photos: A Great Way to Bring Your Business to Life Online?

Why 360° Photography? Technology evolves so much that you may find fads appear and can fade away so quickly that they are barely remembered. However, when new technology sticks and is effective, it changes the way we as an audience consume content forever. If you want to see examples even heading to Google photos, 360° […]

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Video Production in Northern Ireland: Growing Your Business Through Video

Ever since the invention of the camera, the average consumer has just been playing catch up with technology’s fast growing pace. The first ever recorded history of the camera came in the form of manuscripts from an Arab scholar called Hassan Ibn Hassan; which dates all the way back to the 10th century. His work […]

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Growth Hacking 101: Definition, Best Practices, and Great Examples

In the ever-evolution of marketing, growth hacking has become one of the latest marketing buzzwords. You must’ve come across it somewhere, especially if you’re an entrepreneur or someone who works in the start-up ecosystem. Few concepts have been as polarizing and revolutionary, simultaneously. Many questions are asked when people hear ‘growth hacking’ for the first […]

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Retail Strategy: Your Guide to Retail Success in the Digital Age (With Examples)

When you hear that successful brands such as Toys R’ Us, Forever21, and Bebe are closing their retail stores, you can’t help but wonder: where did they go wrong? At some point, these were beloved and popular brands. Why are they closing their stores? Can the growing power of e-commerce and technology take all the […]

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Agile for Marketing: All You Need to Know (With 5 Examples)

Regardless of the industry or business function you’re working with, pretty sure that the word “Agile” has crossed your way. The term “Agile for marketing” has been circulating around as the “modern” approach that transforms the marketing department. For some companies, the Agile methodology has been revolutionary and fruitful. For many others, it was mere […]

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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.