Set Your Website Traffic Goals

A Web plan should include realistic estimates of projected Web traffic. The first step is to look at the details on measuring projected traffic, and how and where to develop realistic estimates. Regardless of whether your website strategy involves selling products, or bringing in community members, or even developing content, in all cases measuring website...

By Sabrina Parsons |

Market Analysis for Your Online Business

Every online marketing plan should include a clear explanation of the market segmentation, target market focus, and a market forecast. It should include detailed information about each of the target market segments. To develop an effective plan based on your customers’ needs and nature, you should be able to answer these questions: Who are they?...

By Tim Berry |

Making a Market Forecast Estimate

Relatively few marketing plans are blessed with budgets for professional market research. When you can’t pass the problem to professionals, then you have to make some intelligent estimates. Get comfortable with the idea of making good educated guesses. Many people think there is something magic about this, some technique they don’t know that the experts...

By Tim Berry |

What Is a Market Forecast?

A market forecast is a core component of a market analysis. It projects the future numbers, characteristics, and trends in your target market. A standard analysis shows the projected number of potential customers divided into segments. This example of a simple market forecast defines two target market segments and projects the potential customers in each...

By Tim Berry |

International Market Research

Market data for other countries As the power of the Internet spreads throughout the world, demographic and economic statistics are becoming more available. If you’re working on market data for your own country, check with your local business development agencies, business schools, and industry trade associations for help in finding the information you need. These...

By Tim Berry |

Business Ratios Give You Type-of-Business Comparisons

The illustration below shows a Business Ratios table. It includes dozens of standard business ratios calculated from business plan financials, and used and expected by bankers, financial analysts, and investors. It also includes a column of statistical indicators for the specific type of business. This industry information is classified and categorized by Standard Industrial Classification...

By Tim Berry |

The Bottom Line in Business

The familiar phrase “the bottom line,” used as synonymous with the conclusion or the underlying truth, is actually taken from the standard Income Statement in accounting, which subtracts costs and expenses from sales and shows profits as the bottom line of the statement. After you have projected sales and cost of sales, you need to...

By Tim Berry |

Plan vs. Actual, Part 3: Understanding Variance Analysis

Many businesses, especially the small, entrepreneurial kind, ignore or forget the other half of the budgeting. Budgets are too often proposed, discussed, accepted, and forgotten. Variance analysis looks after-the-fact at what caused a difference between plan vs. actual. Good management looks at what that difference means to the business. LivePlan provides the plan vs. actual data...

By Tim Berry |

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