Making a decision based on gut feel alone is not only lazy but also likely to be a dud. However, recent books like the best seller “Blink” give the impression that you just have to rely on your instincts. For most business decisions, this approach will get you fired or drive your company into bankruptcy.
Forecasting sales is vital to all business. Far from being just guesswork, it is a scientific technique that predicts future sales by analyzing past and current sales trends and the variables that affect it. However, since forecasts are often wrong, many people tend to downgrade its worth. This betrays a gross ignorance of the role
Everyone agrees that location is one of the most significant factors in the success of a retail business. However, among small entrepreneurs, it is rare that a scientific effort is employed when looking for a business location. Most decide on gut feel; others on superficial examination. Finding the ideal location for a retail store must
How to Choose a Business Many will be disappointed but I must agree with a text message sent to me recently that passion is not enough: “Mr Anlacan hi cn u tell how do we choose a biz cos i know liking sumthn is nt enough 4 a bizns thnx rosalie buenaventura 24 pasig” Doing
If you plan to be an entrepreneur, you must study what is best for your situation, whether to start a business on your own or buy a franchise. Are you willing to share the profits in exchange for the relative safety of a franchise, or do you prefer the risk—and rewards—of pursuing your own vision?