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Business Strategy - Page 3

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

The Complete Guide to Product Management: Roles, Responsibilities, Skills and Methodologies for 2024

ProfileTreeProfileTree // 25th March 2024

All companies start with a product of some kind. Good products are the foundation of any successful business. The product is the currency that businesses depend on to profit. In other words, a company can only make so much profit if it has limited products. However, having a product in large quantities doesn’t guarantee profits. […]

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How Government Business Statistics Can Help Your Business Thrive in 2024?

Esraa MahmoudEsraa Mahmoud // 24th February 2024

In today’s fast-paced business world, access to reliable information is crucial. While news headlines scream opinions and pundits spin narratives, there’s often a silent majority: government business statistics. These data gems, collected and published by official agencies, hold the key to valuable insights that can empower your business decisions. These meticulously collected and analysed datasets […]

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Beyond the Charts: Unveiling the Power of Business Intelligence Statistics

Esraa MahmoudEsraa Mahmoud // 18th February 2024

Every world has its hero, and in the business world, that hero is Business Intelligence (BI)! Think of it as your personal data decoder, transforming raw numbers into actionable insights that illuminate your path forward. Forget feeling overwhelmed—imagine wielding data as a strategic weapon, transforming numbers into actionable insights that propel your business forward. This […]

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Product Placement – The Essential Guide to Embedding Brands in Entertainment in 2024

ProfileTreeProfileTree // 4th March 2024

Years and years of direct advertising and sales pitches have deterred viewers from anything labelled “Ad.” In the skip-ad era, marketers have devised non-traditional ways of promoting products and brands. Product placement can be the answer to this. Ways that viewers will not want to run away from. One popular way is, of course, content […]

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Free Product Testing – The Essential Guide to Test Your Way to Success in 2024

ProfileTreeProfileTree // 15th February 2024

Product testing can happen at several different stages. Image credit: Twentify

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Business Website Statistics: Up-to-Date Data

Miral NassarMiral Nassar // 3rd April 2024

Business website statistics refer to quantitative data and metrics that businesses collect and analyse to evaluate the performance and effectiveness of their online existence. These statistics provide insights into various aspects of business website performance, including traffic, user engagement, conversion rates, and overall user behaviour. By tracking and interpreting these statistics, businesses can make informed […]

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How to Ask for a Promotion – The 2024 Ultimate Guide to Earning Advancement at Work

ProfileTreeProfileTree // 31st March 2024

There comes a point in your professional life when you start thinking about career advancement. It’s as inevitable as the sun setting to the west daily. Asking for a promotion is widely perceived as more of a risky confrontation than the next step of your career progression. Employees everywhere always have that understandable yet irrational […]

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The Shocking Truth About Your Workforce: Talent Management Statistics Revealed

Miral NassarMiral Nassar // 7th April 2024

In today’s competitive business landscape, talent management statistics are crucial to ensure the success of any organisation. Human resources (HR) professionals constantly seek the latest statistics and trends to optimise their workforce and retain top talent. Let’s delve into talent management and uncover the shocking truth revealed by talent management statistics. What are Talent Management […]

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Product Liability – A Complete Guide to Insurance for Small Businesses in 2024

ProfileTreeProfileTree // 14th February 2024

Any business can suffer product liability claims, which is more likely in some industries than others. Image credit: Buckfirelaw.com

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Free Mind Mapping Software: Top 10 Tools to Clarify Your Thinking in 2024

ProfileTreeProfileTree // 13th March 2024

Free mind mapping software is becoming more essential for running a business today. The overflow of Big Data that daunts us in any business activity we undertake needs something to manage it. Most of the time, our minds are incapable of single-handedly doing that. We need some outside interference. In trying to keep up with […]

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Essential Email Marketing Statistics for Businesses

Maha YassinMaha Yassin // 14th February 2024

Running a business in today’s ever-evolving digital landscape, you might ponder the mystic art of email marketing. We’ve all been there: an onslaught of endless emails flooding our inboxes with little noticeable reward for businesses. But hold on—did you know that more than 306 billion emails are dispatched and received globally daily? This makes it […]

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How to Produce and Edit Video for Tourism Businesses

ProfileTreeProfileTree // 13th February 2024

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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How to Know When You Need an Online Marketing Agency

ProfileTreeProfileTree // 4th March 2024

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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Business Coaching Industry Statistics: Market Size 2024

Esraa AliEsraa Ali // 13th February 2024

The business coaching industry is flourishing, offering unparalleled support and guidance to entrepreneurs and aspiring leaders. Let’s delve into the numbers and get a clear picture of its current state in 2024. What Is the Current Market Size of the Business Coaching Industry? Coaching industry? More like a rocket ship! This dynamic arena isn’t just […]

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Risk Management: Unleashing the Power of Statistics

Miral NassarMiral Nassar // 7th April 2024

Risk management is a critical aspect of any business or organisation. It involves identifying, assessing, and controlling threats to an organisation’s capital and earnings. These threats or risks could stem from various sources, including financial uncertainty, legal liabilities, strategic management errors, accidents, and natural disasters. Statistics play a crucial role in risk management by providing […]

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The Impact of Business Planning Statistics on Strategic Growth

Miral NassarMiral Nassar // 14th April 2024

Navigating the world of business planning can sometimes leave you feeling knee-deep in a jigsaw puzzle. We understand that feeling, staring down the substantial task of piecing together a robust business plan while wondering, ‘Is it worth all this effort?’. Did you know research illustrates that businesses with strategic plans grow 30% faster? Throughout this article, […]

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The Numbers Game: Decoding Network Marketing Statistics

Yasmin ElwanYasmin Elwan // 14th April 2024

Explore the world of network marketing as we delve into its components, controversies, and legal considerations. Focus on the numbers with crucial network marketing statistics—industry size, demographics, and success rates. Join us in decoding this entrepreneurial landscape with precision. Key Elements of Network Marketing Network marketing, also known as multi-level marketing (MLM) or direct selling, […]

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Global Marketing Data and Market Share Statistics

Panseih GharibPanseih Gharib // 14th April 2024

The marketing world is abuzz with activity, constantly evolving to keep pace with shifting consumer habits and technological advancements. Yet, amidst the noise and change, one constant remains: the power of data. Understanding industry trends, competitor actions, and customer preferences are the main factors of any successful marketing strategy. But navigating the vast ocean of […]

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The Complete Brand Build Guide

ProfileTreeProfileTree // 6th February 2024

Every business should have its own unique identifier, a a brand build guide. This is known as the business’s brand and it is essential to the success of any business. First of all, the brand is the first thing a customer notice when choosing a product. This means that a well-established brand is much more […]

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

ProfileTreeProfileTree // 5th April 2024

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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Media Usage Statistics: A Deep Dive into Global Trends

Miral NassarMiral Nassar // 21st February 2024

Social media has become an integral part of modern life and has grown tremendously recently. As we look forward to the future of social media, understanding the current trends and statistics is essential. This article delves into the global social media usage trends, exploring popular platforms, demographics, the impact on society, emerging platforms, and the […]

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How to Become a Product Manager?

ProfileTreeProfileTree // 5th February 2024

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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Unveiling Key Inventory Management Statistics and Technological Trends

Maha YassinMaha Yassin // 6th February 2024

In the intricate dance of modern business, effective inventory management is not just a logistical necessity; it’s a strategic imperative. The delicate balance between supply and demand, achieved through meticulous inventory control, is critical to a company’s financial health, customer satisfaction, and operational prowess. As businesses navigate this critical terrain, technology emerges as a transformative […]

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Meal Kit Market: Size, Delivery Services, and Opportunities

Panseih GharibPanseih Gharib // 7th February 2024

The meal kit market has significantly grown and transformed in recent years, driven by the increasing demand for convenient and healthy meal options. This market segment has created opportunities for various players to capitalise on the growing meal kit delivery services trend. Understanding the market size, forecast, and industry analysis is crucial for both existing […]

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The State of Business Credit Cards: Trends, Stats, and Insights for 2024

Miral NassarMiral Nassar // 26th March 2024

The world of business credit cards is constantly rising, and as we step into 2024, it’s important to stay up-to-date with recent trends, statistics, and insights. Understanding the current state of business credit cards can provide invaluable knowledge for seasoned business owners and budding entrepreneurs. Let’s investigate the latest statistics, usage trends, and critical factors […]

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

ProfileTreeProfileTree // 1st February 2024

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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Health and Beauty Franchise Business

ProfileTreeProfileTree // 16th April 2024

Key things to be aware of when considering a Health and Beauty Franchise Business

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Marketing Statistical Analysis: Revealing Key Insights for Success in 2024

Miranne KhaledMiranne Khaled // 21st February 2024

Businesses today constantly search for ways to gain a competitive edge to thrive in a highly competitive business landscape. One powerful tool that has emerged in this pursuit is marketing statistical analysis. With the ability to extract invaluable insights from vast amounts of data, marketing statistical analysis is crucial for informed decision-making and successful marketing […]

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The Massive Power of Experience: Unveiling Experiential Marketing Statistics

Maha YassinMaha Yassin // 9th February 2024

Brands are desperate to connect in a digital world choked with forgotten banner ads and fleeting social media pings. Forget the fight for clicks; the future is about forging memories. Enter experiential marketing: crafting immersive experiences that leave customers breathless, not bored. And the stats? They’re mind-blowing. Experiential campaigns deliver a 65% ROI boost, build […]

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Business Coaching Statistics and ROI

Panseih GharibPanseih Gharib // 14th April 2024

Business coaching statistics show that it is a rapidly growing industry that offers valuable assistance to individuals and organisations seeking to improve their professional and personal development. With the demand for coaching services rising, it is essential to understand the impact of business coaching on the return on investment (ROI). The business coaching industry encompasses […]

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Your Guide to Integrating Animation Into Your Business

Noha BasionyNoha Basiony // 26th March 2024

In the dynamic landscape of modern business, integrating animation has emerged as a compelling strategy, offering a gateway to heightened engagement, effective communication, and a distinct brand identity. As the digital age continues to redefine the ways we connect with audiences, businesses are recognising the power of animated concepts to cut through the noise, tell […]

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Comprehensive Guide to Business Statistics: McEvoy Overview

Panseih GharibPanseih Gharib // 16th April 2024

Business statistics is the science of utilising numerical data to make informed decisions in the business world. A comprehensive guide to business statistics offers a practical approach to statistics, covering the fundamental concepts of business and economics. It explains fundamental business statistics concepts often obscured in conventional textbooks. Providing descriptive statistics, mathematical notation, and hypothesis tests equips […]

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Businesses in China: A Prominent Economic Powerhouse—With Key Statistics

Miranne KhaledMiranne Khaled // 7th April 2024

The allure of China’s booming economy, fueled by its massive population and formidable industrial might, continues to draw the world’s attention. For investors, economists, and policymakers alike, unlocking the secrets of its business landscape holds paramount importance.  Beyond its sheer size, China’s business environment pulsates with a kaleidoscope of interconnected factors. From surging economic growth […]

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Discover Real Health Benefits with Natural Salt Therapy

ProfileTreeProfileTree // 24th January 2024

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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Minority Representation in TV: Statististics of Racial Diversity in Media

Esraa AliEsraa Ali // 24th January 2024

Minority representation in television has seen gradual improvement in recent years, according to Statista, but there is still a long way to go. A study conducted by the organisation found that in 2020, 24% of TV show characters were from a racial or ethnic minority background, increasing from 21% in 2019. However, this still falls […]

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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.