Business Model – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is a Business Model? A business model outlines how a business creates value in its commercial operations.  In plain terms, it is simply a way of getting all the ideas that go into the creation of your business down on paper.  It helps you to organize your...

Business Valuation – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Finance, Personal Finance, and Valuation Principles

What is Business Valuation?Business valuation refers to the general process of ascertaining the economic value of a company unit or a whole business. Business valuation can be utilized in ascertaining a business’ fair value for various reasons, with the...

Financial Projections (Overview)

by TheBusinessProfessor | Feb 23, 2025 | Business Finance, Personal Finance, and Valuation Principles

Overview of Financial ProjectionsNow that you have an operational plan in place, it is time to develop financial projections for your business. Financial projections present a numerical model of your business. They reveal the entrepreneurs basic assumptions about...

Financial Analysis of an Idea

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

How to Financially Analyze an Idea?At this stage, the procedure for analyzing the potential of the idea various with individual entrepreneur and the type or amount of value desired. Below are some general instructions for developing the necessary information.Market...

Financial Analysis of Business Idea (Overview)

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is Financial Analysis of a Business Idea?This part of the feasibility analysis involves evaluating the potential profitability of the venture. That is, does the proposed business have the potential to return sufficient revenue in excess of costs so that it is...

Marketing Controls – Explained

by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing

What are Marketing Controls?To maximize the return on a marketing plan, there needs to be controls in place to monitor the plan’s progress. As a marketing plan moves along, the controls are constantly analyzed to determine how the plan’s actual performance...

Marketing Budget – Explained

by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing

What is a Marketing Budget?When calculating your marketing budget, make sure you start by aligning your marketing goals with your company’s strategic goals and vision for growth. If you plan to grow by 20%, but only want to invest enough in marketing to get new...

Action Plan – Part of a Marketing Plan

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is an Action Plan in Marketing?The action program includes the procedural steps necessary to carry out the marketing strategy (strategic use of resources) laid out above. The action plan is generally constructed as a table of activities that assign various tasks,...

Marketing Ps – Process

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is Process in the Marketing Mix? The Value-added services that differentiate the product from the competition (e.g. after-sales service, warranties) Is there a method for feedback on customer satisfaction, quality control? What minimum shipping orders are...

Marketing Ps – Packaging

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is Packaging in the Marketing Mix? Packaging is made up of various elements. The below questions demonstrate some primary considerations for packaging of a product. How the product will be protected? Are the packaging and labeling regulations met? How are...