The components of a business model

Monday, December 18th, 2017

As we discussed in our last post, a business model is a blueprint for the business, outlining how you’re going to run your business, and how you’re going to make money. It’s made up of five elements: Business concept Value chain position Calculating customer value Revenue sources and cost drivers Competitive advantage Let’s take a closer […]

What is a competitive advantage?

Saturday, May 27th, 2017

Your business has a competitive advantage when customers believe you offer clearly superior products and service from your competitors. Successful small business owners craft a competitive strategy, which considers how their business will compete against other businesses. Why should you create a competitive advantage for your business? Many small business owners will simply try to copy what’s […]

From the archives: All about operations processes

Saturday, August 29th, 2015

Every business, whether it’s a service or a product-based business, offers some form of an operations process. If your small business has a good operations process, it can be an advantage over your competitors. Read on for more information: What is an operations process? Operations process for service vs product businesses

Where is your competitive advantage?

Saturday, October 4th, 2014

How can your business compete? Try these three ways.