Performing a SWOT analysis gives you a clear view of where your business stands. In the same time it will help yo identify and understand issues affecting your business. Have in mind it does not necessarily offer solutions.
If you´re running an SME, you probably don’t need anyone to tell you that it’s not quite like working a 9 to 5. The point where most people end a typical work day often marks the halfway point for those running a small business.
If you´re running a small business, you´ve more than likely heard of the marketing rule of 7.
The rule says that a would-be customer needs to see or hear about your company or product at least seven times before becoming a customer.
The theory goes that:
The 80/20 rule, otherwise known as The Pareto principle is an observation and theory that says approximately 80% of the effects or outcomes of a situation come from 20% of the causes.
No one said running a small business was cheap but even so, with the increasing cost of real estate, running a vehicle, employee salaries, and supply costs, it can be tough to make ends meet.