Total available market, serviceable available market and serviceable obtainable market
October 5, 2020
Businesses exist to provide a solution in the form of a service, product or both to an existing or newly identified need. In essence, businesses ideally identify opportunities in gaps within various value chains and seek to address those gaps usually at a cost to themselves, and price their solutions to intended beneficiaries of the […]
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Cash flow is King – Why businesses must ensure cash flow
September 30, 2020
Recently, a small business owner asked an interesting question on a Facebook page for people looking to learn everything about savings and business, especially the micro and small businesses. The question touched on the business conflict on pricing – higher margins that would translate to slow stock turnover, or lower margins that would translate to […]
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Unique Value Proposition – Why it is key to differentiate your business
September 22, 2020
Value is simply defined as the excess of benefits for service or product that a client pays for (generally, clients perceive value as the total benefits from the product or service procured less the actual cost of procuring that value – essentially the price and other related costs. This means businesses generally exist to offer […]
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3 Ways to Adjust Your Business Strategy During and Post-COVID-19
September 2, 2020
Just as the case is with large businesses, the COVID-19 disruption has also hit small and medium enterprises (SMEs). The impact on SMEs may, however, be more significant, given that many may not have invested in a robust business strategy. But all is not lost. With the guidance of business strategists, small and medium businesses can stay afloat during this lockdown period and swiftly bounce back post-COVID-19.
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