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Business Strategy - Page 9

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

3 Great Ways To Use Social Media Advertising Statistics 

Claire MulliganClaire Mulligan // 11th February 2024

Social media advertising statistics have been a powerful marketing tool for businesses when reaching new audiences online and increasing sales and conversions. In this article, we’ll take you through how to utilise social media advertising statistics to inform your digital marketing strategy.

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5 Social Media Business Statistics You Need To Check Regularly To Perfect Your Strategy

Claire MulliganClaire Mulligan // 11th February 2024

It can be difficult to pinpoint exactly what your target audience wants to see on social media. However, social media business statistics is a fantastic tool that all businesses should be using to review their digital marketing strategy and identify ways to improve the performance of their content.

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3 Powerful Ways To Enhance Your Twitter Marketing Strategy

Claire MulliganClaire Mulligan // 3rd November 2023

Twitter marketing has remained one of the most powerful social media tools for online users to communicate with each other and keep up-to-date with current news and trends. Twitter is a fantastic platform for businesses to enhance their online presence and increase brand awareness.

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What is scope creep in project management and 3 ways you can avoid it

Sara LynchSara Lynch // 15th April 2024

Scope creep is a part of project management and unfortunately, you cannot completely avoid it.

Project management requires careful oversight in order to ensure a project cycle is completed to a satisfactory standard. Sometimes, scope creep can appear when things go wrong, which may frustrate project managers, clients and other stakeholders.

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Beauty Industry Statistical – Dramatic Changes

Rana GazzarRana Gazzar // 21st December 2023

No one can deny the significance of the beauty industry. Most people use beauty products daily; beauty products have been an exciting trend over the past few years, especially after Covid 19 consumers have become fully aware of what they should use on their skin and how it can affect their health and well-being. Beauty […]

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50+ Amazing Artificial Intelligence Statistics in Business to Inspire you

Fatma MohamedFatma Mohamed // 9th February 2024

No one can deny the effect of artificial intelligence in our daily life. AI has entered our life and found its way into many areas – including cell phones, cars, smart homes, cybersecurity and other sites. It is one of the most technological revolutions happening in the 21st century. AI was able to occupy this […]

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Global Fashion Industry Statistics: All You Need to Know

Rahma AliRahma Ali // 20th March 2024

Grasping the sheer scale of global fashion industry statistics reveals the astounding impact and reach of this vibrant sector, teeming with an array of apparel that seems limitless. Let’s delve into the heart of this dynamic industry! The mere thought of tallying the vast number of garments populating closets across the globe is a formidable […]

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Small Business Statistics: Facts, Numbers, and Recommendations 2024

Rahma AliRahma Ali // 22nd April 2024

Running a business takes work, and in a grim economic situation, it seems even harder! That’s why we should check small business statistics frequently to figure out what direction we should take and let numbers tell us about the future. Let’s see! It takes a lot of deduction to bring success to your business, but […]

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How to Create a Content Strategy for a Website in 5 Easy Steps

Rahma AliRahma Ali // 3rd November 2023

Your content marketing efforts can be vastly improved by building a content strategy for a website. This guide will answer all your questions about crafting an exclusive content marketing strategy.  If you want to know why content strategy is important and how much it will influence your business, just have a look at the first […]

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Small Business Statistics in the UK: What You Really Need to Know

Rahma AliRahma Ali // 22nd April 2024

Small business statistics in the UK have been the most volatile on record over the past few years. We will go through important numbers you need to know this year. So let’s get right into it! Too much could be said about the worldwide repercussions of recent events, such as the COVID-19 pandemic and the […]

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Business Travel Statistics: Important Facts & Trends You Need to Know

Rahma AliRahma Ali // 4th January 2024

Check key facts about business travel statistics to explore trends here. We’ve compiled them from official material to help you make the right decision.  International travellers have risen significantly during the last decade, and business travellers continue to dominate the industry. Business trips contribute a lot to regular flights, and they will continue to grow […]

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What does Digital Transformation look like? 5 real world examples

lochlainnlochlainn // 23rd April 2024

By now business leaders know that in order to grow and become competitive within the market, they must be able to exploit all opportunities. There are many different ways in which they can do this however the use of technology to either radically improve performance, or deliver value to their customers has become the number one way for businesses to improve overall efficiency and performance. 

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

lochlainnlochlainn // 21st January 2024

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

Sara LynchSara Lynch // 29th January 2024

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’

lochlainnlochlainn // 5th April 2024

Before you take a look at Porters Five Forces, you may want to check our blogs on Business Strategy, Stakeholder Mapping, Scenario Planning and Digital Transformation. What is Porters Five Forces? For many businesses they will want to understand both their internal and external environment. To analyse the external environment, a PESTEL Analysis will encourage […]

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10 Best Business Movies You Need to Watch 

Sara LynchSara Lynch // 27th January 2024

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

Sara LynchSara Lynch // 30th January 2024

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 

Sara LynchSara Lynch // 26th April 2023

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

lochlainnlochlainn // 10th December 2023

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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Small Business Consultation – The Complete Guide To Success!

ProfileTreeProfileTree // 22nd April 2024

Business Leadership is challenging at any time, more business leaders are turning to small business consultation as an answer to everything from Management to Growth.

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Tourism Marketing: Your Guide to Success Within The Tourism Industry

ProfileTreeProfileTree // 26th March 2024

Tourism marketing is essential to drive success to a company in 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 the industry and how to ensure your marketing strategy captures the unique nature of tourism and hospitality.

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Green USPs for SMEs

ProfileTreeProfileTree // 17th December 2023

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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Brand Positioning Basics: Establish Your Brand in Easy 4 Steps

ProfileTreeProfileTree // 2nd April 2024

On the journey of building a new product or introducing a new brand, one of the core exercises is coming up with the brand positioning. Brand positioning guides the entire marketing mix strategy and is the basis on which marketers build their decisions. The brand positioning is an equation where one must have a target […]

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The Ultimate Guide to Hotel Marketing – Hospitality Made Easy

ProfileTreeProfileTree // 19th October 2023

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

ProfileTreeProfileTree // 17th December 2023

360 photos, also known as spherical photography, is revolutionising the way we capture and interact with images. This immersive form of photography allows viewers to explore a scene in every direction — up, down, and all around — offering a virtual experience that closely mimics physically being in the photographed location. It’s a technique that […]

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

ProfileTreeProfileTree // 22nd January 2024

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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17 Amazing Brand Storytelling Examples: A Brand’s Once Upon a Time

ProfileTreeProfileTree // 6th October 2023

Storytelling is such a buzzword in the marketing industry these days. There’s been a lot of hype about successful brand storytelling examples because ultimately, people like to hear the story behind their favourite products/services, it builds brand loyalty and helps create an emotional connection that will ensure your business stands out from competitors.  But what […]

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How to Write a Creative Brief: A Brief History of Briefs (With Examples)

carolcarol // 4th March 2024

How to write a creative brief that you enjoy writing and at the same time gives a precise and valuable overview of the project? A creative brief is a very common, yet feared word among those who work in the marketing and advertising field. Brand managers and marketing specialists find it a heavy task and […]

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Personal Brand Coaching: The Complete Guide to Success

ProfileTreeProfileTree // 11th December 2023

Brands have always been an important part of any economy. The purpose was originally a form of proof of ownership, but that changed once the potential of branding revealed itself. In the current marketplace, branding is everything and has the potential to make or break a business despite the business size. A good brand was […]

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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.