Why should you have a vision for your company?

Surely you have heard of such a thing as a company vision. Of course, you’ve heard that there is such a thing, that it would be appropriate to have one, to arrange it, to formulate it. Just what is it actually and why does anyone need such a “thing”? On top of that, we are often confused about the difference between vision and mission, and mission is confused with strategic goals, so let’s start from the beginning. Do you realize

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You have an idea for a business: why do you need to think about organizational structure?

Hiring employees is a big cost for Nowak. If, on the other hand, he wants to set up a company, he has to share the profit earned with the partners. In both cases you will need a good organization of work and division of tasks When constructing a business plan for a venture, you must not only plan the products, how to inform customers about them, your mission and your suppliers, but also the organization inside the company. If he

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Why is it important to plan in business? The principle of two inverted triangles

Author: Florian Wierzchowski As you can see, I’m not posing the question at all – whether you should plan in business, because of course you should, and to the best of your ability. Here I want to give you reasons why it is worth it. Although it is possible to act and achieve goals without planning, it will be a short business or full of surprises and crises. As in the life of any person, even those not involved in

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You have an idea for a business: how should it identify substitutes?

Porter’s analysis still requires thinking about two elements of the market – buyers and substitutes that may threaten your business. I already wrote about buyers a few posts ago. I’ll remind you that it’s about market segmentation, that is, isolating who will be the buyers of your company’s products or services. If at this stage of business planning you have already specified a group of key customers. You can further characterize them by three characteristics: their number, the degree of

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How to calculate if your business will be profitable? Part 3

In my last blog post, I presented a very simple example of a business – a language school – so that you can understand how to count the profitability of your business or, in a specific case, the profitability of a particular product. You are unlikely to run such a business, but in order to understand what is revenue, cost and profit, it is worth your while to read this text. Let me remind you of the premise. We run

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