The future of internet businesses

The internet is still in its new and emerging phase of growth. There are still thousands of untapped opportunities on the internet. The rise of internet businesses will continue to grow with no signs of slowing down in the near future. What is driving internet growth? Increasing number of internet users The increase of people…

Importance of a business budget

A budget helps a business owner plan to measure how effective the business is in reaching its strategic goals. A budget has three major goals: Planning Creating consistency within all aspects of the business Evaluating performance Planning A budget forces a business owner to plan ahead. A business with a plan of action is more…

Assessing future growth

In assessing future growth, there are five main areas you should look at: Adequacy of capital/ access to capital Asset efficiency Scalability of earnings Economic events Management experience and training Adequacy of capital/ access to capital A business should have enough capital not only to invest in business growth but to weather bad economic times.…

Competitive advantage – Core competence

In an earlier post, I talked about an online business core competence comes from its ability to convert inputs using efficient coordinated processes into output that create value for customers. Core competencies improve with use. Core competencies are the driving force for new business developments. A competitor can imitate your product, but they should not…