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The Business Model Canvas is a tool that allows entrepreneurs to visualize, design, and evaluate their business model.
The Business Model Canvas helps identify how the different components of business relate to each other. Use it to decide where to focus time and energy as the business develops.
Formulating a business plan should be the first thing done when starting a new business. A well-written business plan gives entrepreneurs the ability to lay out their goals and track their progress as their business begins to grow. Business plans are important for attracting funders so they can determine if your business in on the right path and worth investing money into.
Branding goes way beyond just a logo or graphic element. Many small businesses neglect to spend necessary time thinking about their brand and the impact it has on their business. A brand that is consistent and clear puts the customer at ease because they know exactly what to expect each and every time, they experience the brand.
In increasingly competitive markets, where barriers to entry are narrowing through technological change, the ability to attract and convert profitable customers to fuel future growth is becoming increasingly challenging. Customer acquisition campaigns of the future need intelligence, insight, and creativity if you want to outperform your competition.
A good value proposition can give businesses an advantage over their competitors and is often what prospects use to evaluate your business. For many consumers, your value proposition is the first thing they encounter when exploring your brand. Having a clear, concise value proposition is more important than ever.
The sales funnel is an indispensable concept in business growth. As you learn to identify each customer’s level in the funnel, you will begin to become a master in lead generation and generating more sales for your exciting entrepreneurial venture.
Lead generation is process of stimulating and capturing interest in a product or service for the purpose of developing a sales pipeline. It allows companies to nurture targets until they are ready to buy. Lead generation can be useful for any type or size of business, for both B2C and B2B spaces.
Your records will help keep you informed about the financial position of your business. You need good records to establish your profit or loss, as well as the value of your business.
Information from good records can also tell you what is happening in your business and why. The successful use of records can show you trends in your business, let you compare performance in different years, and help you prepare budgets and forecasts.
Understanding and predicting the flow of money in and out of your business, can help entrepreneurs make smarter decisions, plan ahead, and ultimately avoid an unnecessary cash flow crisis.
Businesses owned by sole proprietors or partnerships run their tax years based on the calendar year. This means the filing deadline is a set date. Therefore, business owners must file their income taxes by June 15 each year. However, by April 30, businesses must pay off their taxes owing from the previous tax year.
Sole proprietors must include the details of their small business on their own personal tax returns. When a company is structured as a partnership, individual partners must file a partnership information return by March 31.
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