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BUSINESS INTELLIGENCE.

A business must be able to systematically improve itself in its ever changing business environment. Business Intelligence is the ability to Analyze data across all functional areas like customer feedback, marketing channel performance, staff performance, sales; and therefore produce strategic decisions guaranteed to improve market share, brand dominance and profit.

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Basics of translating an idea into a business

Ideation is one of the most critical parts of the value creation process in business.
Many businesses fail early not because they lacked passion, but because they didn’t build a solid foundation at the ideation stage. There are frameworks every entrepreneur must apply to avoid common pitfalls during ideation.
Assess the Opportunity:

  • Use an opportunity assessment framework to validate the business idea.
  • Be aware of the tendency to overestimate demand based on emotions.
  • Conduct a feasibility study to grasp the profit drivers and growth factors.
  • Identify your industry’s business model and how revenue is generated.
  • Understand buyer power, seller power, and the depth of rivalry.
  • Carry out a SWOT analysis to identify strengths, weaknesses, opportunities, and threats.

Pursue the Right Opportunities:

  • Understand the framework for acquiring and leveraging viable opportunities.

Pricing

Pricing is a core element in driving business revenue and closing sales whether you’re setting prices for the first time or revisiting your approach. Why pricing is critical?

Pricing is one of the most critical factors that influence purchase decisions and revenue growth.

Profit drivers in every business include volume, price, fixed cost, and variable cost.

Pricing complexity stems from:

  • Pricing align with the full marketing mix (product, place, promotion, price)
  • Cost is a matter of fact. Price is a matter of policy.

Marketing

Building an effective marketing strategy for entrepreneurs and business owners looking to increase market visibility, grow revenue, and dominate their space can:

  • Define business, the market to serve, and offerings.
  • Set strategic goals such as increasing market share, improving sales processes, or building brand awareness.
  • Establish numeric targets: revenue growth, new customer acquisition, client type goals, etc.
  • Competitive Positioning Strategy
  • Understand differentiation in the market.
  • Carry out market analysis to determine what sets you apart.
  • Profile your market: industry, region, size, decision-makers, and buying influencers.
  • Assess your market lifecycle (introductory, growth, mature, or declining).
  • Customer Intimacy: Build relationships and tailor solutions to customer needs.

Business growth and scale

The VCAP framework, a value maximization principle that helps businesses scale effectively. Value is created through the alignment of capabilities, assets, and processes.

  • Value: capabilities, Assets + processes.
  • Capabilities: The synergy of systems, people, and processes ensuring alignment for business growth.
  • Assets: Financial capital, human resources, social capital, and operational resources needed for scaling.
  • Processes: Operating systems, production cycles, cost efficiency, flexibility, and quality management.
  • Scaling Strategies: Increase reach, diversify offerings, enhance internal alignment, and refine operational excellence.
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