iAdviz

As Business owners, we need to regularly keep track of how our business is doing; keep an eye on the various activities and processes of our business; find out which areas are performing well and grow them; figure out which areas are not doing well and fix them. But, how do we constantly monitor the various aspects of our business? How do we identify new growth opportunities and respond quickly? Logging into various systems and pulling out the required information may be fine, once in a while. But doing it every day or week can be time-consuming. On the other hand, without this information, you have to simply rely on gut instincts and guesswork. That’s where business dashboards come in.

You have a powerful idea for the next big thing, but before you sell it to anyone, you have to get it all down on paper. It’s time to make a business plan. How do you know if you’re headed in the right direction? Washington State University created an infographic that provides 10 guidelines to help prospective entrepreneurs organize their thoughts and wow potential investors. The infographic details some major questions that aspiring CEOS need to ask themselves like, what problem is my business going to solve, what’s my company’s mission, and what do we do better than anyone else in the market? But you aren’t quite done yet. A thorough business plan includes who your target demographic is, the conditions of the market you’re entering into and accounts for worst-case scenarios. And of course, there’s the money: how much you need to get going, and where it’s going to come from once your business is up and running. For more information, like how much funding you’ll need be...