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Small Business Tips For Business Owners About Cause And Effect Analysis

by Guest Author 22 May 2019 07:50

Operational problems of any kind can be a plague on a growing business, especially when you cannot get to the root of those problems. Sometimes, the only way to identify and address problems that could cripple your business is through a comprehensive cause and effect analysis. If you are new to this form of business analysis, here are some things that you should know.

Detail The Problem

An adequate cause and effect analysis starts with a detailed examination of the problem itself. The problem itself is the head of the analysis chart. This should include the nature of the problem and how extensive it is. It should also detail which aspects of the business are affected and some general beliefs of the reasons why.

Identify The Causes

Gather a team of staff from the areas of the business affected, as well as some of your operational specialists. Host a brainstorming session to identify the possible causes for the problem in question. During this session, the goal is to list as many potential causes as possible, because this could help you to narrow down the actual source of the issue.

For each of these potential causes, you should also identify any of the contributing factors to each of those causes. As an example, if one of your potential causes is slow production, staffing issues, supply problems, and quality control issues can all contribute to this.

Evaluate Each Cause

Once the brainstorming session is complete, it's time to start assessing each of the potential causes. Assess each potential cause for its own severity. Rank the causes starting with most severe of the potential causes, and work your way to the least. This allows you to determine an action plan that will resolve your problems.

Create A Plan

Addressing each of these causes and eliminating them will help you to resolve the problems that are plaguing your business, and having them in writing gives you something measurable and clear to work from. Once you have prioritized the causes, it's time to develop a clear plan to resolve those issues. The completed action plan should allow you to solve the problem that is plaguing your business through each detailed step.

For more information about cause and effect analysis as well as other forms of business analysis, contact us today.

Do I Need an Inbound Marketing Plan for my Business?

by Guest Author 15 May 2019 11:31

Inbound marketing is revolutionizing the way companies interact with customers. Before, businesses had to rely solely on outbound advertising methods to reach their customers, which meant sending out a barrage of messages about the product that may or may not be welcome. It was the equivalent of the bothersome salesperson knocking at your door trying to sell you something you did not need. Inbound marketing forever changed the relationship between businesses and customers. Why is inbound marketing so effective?

Instead of companies always reaching out to the customers, customers come to you — when you have the right strategy in place. Here's how it works:

Your business provides valuable content for consumers about topics related to your industry. These topics can range from any of the following:

  • Blog posts on any aspect of your product or service
  • General education articles relating to your industry
  • In-depth white papers on a product
  • Webinars about how to do something related to your industry/product

These are only a few ideas of the type of content you can offer on your website. The consumer who is researching for information about a problem that relates to your industry will gain value from your website. As you provide helpful information, you gain the trust of consumers. When it comes time to purchase the product, you have developed a relationship with them and the sale comes more readily. Inbound marketing then is a method that draws the customer "in." Forbes puts it like this, "As brands began to see the value in creating content that brought their customers to them, inbound marketing grew."

The Value of Outsourcing Inbound Marketing

Even though, in theory, the process sounds simple, it does require a strategy to make it work. If you just begin posting any type of content with no thought for the buyer's journey, buyer personas, web design, and search engine optimization (SEO), then it is just throwing your work to the wind. Outsourcing this crucial part of your business is a good investment and is sure to bring great dividends. By outsourcing your inbound marketing you will only pay for the work that is done instead of paying a regular employee full-time, and you hire a professional who is an expert in this area.

How to Select Your Outsourcing Agency

Choosing your outsourcing agency is just as important as getting one. You want to ensure that the place you partner with is a full-service agency that is equipped to do it all. Some responsibilities of an effective agency include:

  • Developing a strategic marketing plan
  • Analysis of the competition to better position you
  • Execution of marketing strategy
  • Measure the results and adjust accordingly

Developing an inbound marketing strategy is one way to ensure your business stays up to date.

Four Strategic Business Analysis Tips for Small Business Owners

by Guest Author 8 May 2019 07:59

If you're looking for some effective Business Analysis strategy for next year, you need look no further. We have got some great ideas on this subject for 2018 and beyond.

To take your business to the next level, try the following analysis:

DEFINE YOUR BUSINESS STRENGTHS

The first step with any business analysis is to determine what your current strengths are. With any strength, you don't want to hide it under that proverbial bushel. Rather, you want to maximize it so you get the most optimal effect from it. As the saying goes, if you don't use it, you lose it. This adage definitely applies to maximizing your business's strengths. Business strengths can come in many forms. For instance, you and your business may excel at providing outstanding customer service or perhaps you have access to the best technology in the industry. Whatever your business strengths are, highlight and maximize them!

DON'T UNDERESTIMATE YOUR WEAKNESSES

Here the idea is to not overlook or underestimate where your business weaknesses lie but rather to identify those areas of your business that demand remedying. Business weaknesses can range anywhere from your location, outdated equipment or technology, staffing problems etc. Your business weaknesses can get in the way of your growth if you do not address them. The good news is that these business weaknesses are within your control and can be changed.

EXPLORE OPPORTUNITIES THAT EXIST WITHIN THE MARKETPLACE

If your business truly plans to grow, it is highly important to keep your eyes and ears open for different market opportunities. Market opportunities can come in many forms. For example, there may be the opportunity of a favorable economy, reduced interest rates, or changing rules and regulations affecting your business. All of these things can be opportunities that you and your business can capitalize on.

BE AWARE OF ANY THREATS TO YOUR BUSINESS GROWTH

Lastly, it's critically important to be aware of any potential threats in the marketplace to your company's growth and development. For instance, are there any market trends or consumer behavior that you need to be mindful of that may derail or slow down your growth goals. Are there any new competitors in the market? Are consumer needs and expectations changing? All of these things you and your business need to be aware of in the coming years.

If you want to know more about business analysis, we here at Valley Yellow Pages can help.

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