Monthly Archives: May 2014

What Is An Executive Summary & How To Write An Executive Summary Of A Business Plan

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By pure accident, the concept of an executive summary is a convoluted one. The problem lies in the terminology itself. The term executive summary can actually mean two things. An executive summary can be either a single section in a long business plan which serves as the opening section. An executive summary is also sometimes a term that is used to refer to a one or two page business plan that is compact. In this article we will go over both kinds of an executive summary to make both clear. If you would like to learn how to write a full business plan, check out this article on how to write a business plan.
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How To Calculate The Unit Economics Of Your Business

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Understanding and correctly calculating the unit economics of your business is extremely important. It is a large part of a successful business plan, and the business itself. The term might sound complicated, but it is surprisingly simple.

In an effort to help you understand how to calculate the unit economics of your business, we will go over the unit economics of a real business. Our example business: A single-location exercise gym. We will call it Bob’s Fitness.
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How To Identify Your Target Market

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Understanding your target market and the behavior patterns of your potential consumers is one of the most important and underrated aspects of planning and running a business. ¬† In fact, having a deep understanding of the needs and behaviors of your target consumers is one of the core ¬†fundamentals for almost any business. And coincidentally, not identifying your target market properly is one of the biggest advertising mistakes and marketing errors that you can make because it will cause all your marketing efforts to be seen by the wrong people who will be very difficult to convert into customers. In fact, understanding your target market is not just a marketing issue. How can you create a great product for someone if you don’t understand who they are, what their needs are, and how much they are willing to pay, and are able to afford. Understanding your target market as deeply as possible is the key to the success of your business overall. In this article, let’s focus on how this effects your marketing efforts.
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