Unit 2: Chapter 5

A marketing mix is the next step, after market research, in the process of starting a business. Conducting market research gives you information about your market, and the marketing mix is how your business specifically applies the information to effectively market your product or service. Having a good marketing mix is key to the success […]

Unit 2: Chapter 4

In my last blog post, I touched briefly on the topic of market research. In order to understand market research, it’s important to first understand what a market is. A market, in simplest terms, is the group a business sells to. For example, a company that sells toys would have a market of mostly children. […]

Unit 1: Chapter 3

In order for a business to succeed, it needs to stand out. If a business doesn’t stand out or doesn’t offer anything that other businesses do not, then it’s destined to fail. This is because, if your business doesn’t stand out, then customers will choose the cheapest option. Low cost can be a unique factor […]

Unit 1: Chapter 2

So, you’ve got your great business idea, and you’re ready to jump right in and make a bunch of important choices that will affect the long-term success of your business with no planning whatsoever. Hang on a minute, you might want to hold off on making the big choices until you have a solid plan. […]

Unit 1: Chapter 1

What is Entrepreneurship? This is a seemingly simple question, with a surprising amount of depth. Entrepreneurship is all around us in our daily lives, even if it might not seem obvious. Broken down to its core aspect, entrepreneurship is the art of selling products and/or services. Products are tangible goods, which can be measured, quantified, […]

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