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The latest business strategy articles, advice and insights from the ProfileTree team.
ProfileTree // 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 […]
Esraa 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 […]
Miral Nassar // 21st February 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 […]
Miral Nassar // 12th February 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, […]
Yasmin Elwan // 12th February 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, […]
Panseih Gharib // 21st February 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 […]
ProfileTree // 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 […]
ProfileTree // 6th February 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 […]
Miral 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 […]
ProfileTree // 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, […]
Maha 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 […]
Panseih 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 […]
Miral Nassar // 21st February 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 […]
ProfileTree // 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 […]
ProfileTree // 30th January 2024
Key things to be aware of when considering a Health and Beauty Franchise Business
Miranne 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 […]
Maha 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 […]
Panseih Gharib // 26th January 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 […]
Noha Basiony // 21st February 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 […]
Panseih Gharib // 25th January 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 […]
Miranne Khaled // 21st February 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 […]
ProfileTree // 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 […]
Esraa 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 […]
Sara Lynch // 23rd January 2024
Within this article, we will explore why distributors are increasingly relying on inventory management software systems in order to increase operational efficiency and supply chain management. We will also list some examples of Inventory Management Software, helping you to make an informed decision about the best solution for your business needs.
Panseih Gharib // 27th February 2024
Small businesses are vital in the economy, and access to capital is crucial for their growth and success. Understanding the current state of small business lending is essential for business owners and financial institutions alike. The lending landscape for small businesses is ever-changing and influenced by economic conditions, regulatory environments, and technological advancements. Small business […]
Esraa Mahmoud // 21st February 2024
Business burglary is a pervasive issue that affects companies of all sizes and industries worldwide. It involves unauthorised entry into a business premises with the intent to commit a crime, typically theft. The implications of business burglary are far-reaching, affecting not only the financial health of the company but also its operational continuity, employee morale, […]
Miranne Khaled // 29th January 2024
In the ever-evolving world of business, data has become an invaluable asset. To unlock its potential, organisations turn to the field of business statistics. Business statistics encompasses a wide range of techniques and methodologies that allow companies to make informed decisions and identify trends that enable them to gain a competitive edge. At its core, […]
ProfileTree // 21st January 2024
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 […]
ProfileTree // 21st January 2024
There are many different kinds of business risk. Image credit: Purdue.edu
Miranne Khaled // 22nd January 2024
Travel is the very word that conjures images of distant lands, exotic cultures, and adventures waiting to be had. Throughout history, it has been a catalyst for personal growth, a key driver of cultural exchange, and a vital cog in the global economic engine. But within this vast world of exploration, two distinct categories reign […]
Miranne Khaled // 26th January 2024
The landscape of economic discourse has undergone a pivotal transformation, marked by the ascendant voice of business sustainability. No longer a peaceful aside in boardrooms, it has become a resounding clarion call echoing through the corridors of industry. This evolution reflects a profound philosophical shift that challenges the longstanding paradigm of unfettered economic growth. For […]
Miranne Khaled // 22nd January 2024
Business tourism, alternatively referred to as corporate tourism or MICE (Meetings, Incentives, Conferences, and Exhibitions), encompasses a diverse range of travel activities that are directly associated with professional or business objectives. Within the realm of business tourism, individuals or groups embark on journeys to partake in an assortment of events such as meetings, conferences, trade […]
Miranne Khaled // 4th February 2024
Event management is an indispensable and integral part of the business world, serving as the driving force behind the creation and execution of impactful gatherings that have the power to leave a lasting impression on attendees. From corporate conferences to product launches and grand-scale celebrations, event management plays a pivotal role in orchestrating seamless experiences […]
Panseih Gharib // 11th February 2024
Analysing business dynamics statistics plays a crucial role in understanding the dynamic nature of high-tech industries. Business dynamics statistics, often called BDS, form an integral part of economic research and are widely recognised for providing valuable insights into businesses’ growth, composition, and behaviour over time. Business dynamics statistics, commonly collected and analysed by organisations such […]
ProfileTree // 18th January 2024
Work from home can come in all shapes and colours. Whatever it is you are good at, your skills and expertise can be put to full use from the comfort of your own room. Recently more and more young professionals opt to utilise the Internet to start, enhance, or farther their career. The options are […]
ProfileTree // 18th January 2024
What’s the main difference between Netflix and Blockbuster? One moved with the times and the other didn’t. Image credit: Blockbuster, Netflix
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:
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.
