Intellectual Business Community

THE EASIEST WAY TO GROW YOUR BUSINESS CURRENT NEW CURRENT Product penetration Product development NEW Current customers diversification                                                           Product                                                                                                                                                                                                           Customers Product penetration Ø A strategy attempting to increase sales of current products to current customers. Ø Under this strategy the entrepreneur might use incentives to get current customers to buy more of ventures product (s) or might advertise other uses for the product. Product development Ø A strategy for creating new products for use by current customers. A new product may include improved or modified versions o

      Entrepreneurs enjoy the freedom of making their own business decisions and becoming their own bosses. In addition, they also gain the stability and control that could never be achieved as a regular employee. If you have been dreaming of becoming one of these entrepreneurs, you should find out the disadvantages and advantages of taking on this role. Advantages of Entrepreneurs Excitement: compared to being regular employees, entrepreneurs enjoy much excitement beginning from the planning stage of the business up to development and realization. Thrill-seekers obviously love being entrepreneurs as they are exposed to too much risk. You should never forget, that all business risks that you agree on taking, should be calculated. Salary Potential: most people who are employed generally feel that they are not being compensated for the work they do. In addition, they must follow the salary structure set by their employers. Entrepreneurs, on the other hand, ear