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Innovation in Business: What It Is & Why It’s So Important

• 08 Mar 2022

Today’s competitive landscape heavily relies on innovation. Business leaders must constantly look for new ways to innovate because you can't solve many problems with old solutions.

Innovation is critical across all industries; however, it's important to avoid using it as a buzzword and instead take time to thoroughly understand the innovation process.

Here's an overview of innovation in business, why it's important, and how you can encourage it in the workplace.

What Is Innovation?

Innovation and creativity are often used synonymously. While similar, they're not the same. Using creativity in business is important because it fosters unique ideas. This novelty is a key component of innovation.

For an idea to be innovative, it must also be useful. Creative ideas don't always lead to innovations because they don't necessarily produce viable solutions to problems.

Simply put: Innovation is a product, service, business model, or strategy that's both novel and useful. Innovations don't have to be major breakthroughs in technology or new business models; they can be as simple as upgrades to a company's customer service or features added to an existing product.

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Types of Innovation

Innovation in business can be grouped into two categories : sustaining and disruptive.

• Sustaining innovation: Sustaining innovation enhances an organization's processes and technologies to improve its product line for an existing customer base. It's typically pursued by incumbent businesses that want to stay atop their market.
• Disruptive innovation: Disruptive innovation occurs when smaller companies challenge larger businesses. It can be classified into groups depending on the markets those businesses compete in. Low-end disruption refers to companies entering and claiming a segment at the bottom of an existing market, while new-market disruption denotes companies creating an additional market segment to serve a customer base the existing market doesn't reach.

The most successful companies incorporate both types of innovation into their business strategies. While maintaining an existing position in the market is important, pursuing growth is essential to being competitive. It also helps protect a business against other companies affecting its standing.

Learn about the differences between sustaining and disruptive innovation in the video below, and subscribe to our YouTube channel for more explainer content!

The Importance of Innovation

Unforeseen challenges are inevitable in business. Innovation can help you stay ahead of the curve and grow your company in the process. Here are three reasons innovation is crucial for your business:

• It allows adaptability: The recent COVID-19 pandemic disrupted business on a monumental scale. Routine operations were rendered obsolete over the course of a few months. Many businesses still sustain negative results from this world shift because they’ve stuck to the status quo. Innovation is often necessary for companies to adapt and overcome the challenges of change.
• It fosters growth: Stagnation can be extremely detrimental to your business. Achieving organizational and economic growth through innovation is key to staying afloat in today’s highly competitive world.
• It separates businesses from their competition: Most industries are populated with multiple competitors offering similar products or services. Innovation can distinguish your business from others.

Innovation & Design Thinking

Several tools encourage innovation in the workplace. For example, when a problem’s cause is difficult to pinpoint, you can turn to approaches like creative problem-solving . One of the best approaches to innovation is adopting a design thinking mentality.

Design thinking is a solutions-based, human-centric mindset. It's a practical way to strategize and design using insights from observations and research.

Four Phases of Innovation

Innovation's requirements for novelty and usefulness call for navigating between concrete and abstract thinking. Introducing structure to innovation can guide this process.

In the online course Design Thinking and Innovation , Harvard Business School Dean Srikant Datar teaches design thinking principles using a four-phase innovation framework : clarify, ideate, develop, and implement.

• Clarify: The first stage of the process is clarifying a problem. This involves conducting research to empathize with your target audience. The goal is to identify their key pain points and frame the problem in a way that allows you to solve it.
• Ideate: The ideation stage involves generating ideas to solve the problem identified during research. Ideation challenges assumptions and overcomes biases to produce innovative ideas.
• Develop: The development stage involves exploring solutions generated during ideation. It emphasizes rapid prototyping to answer questions about a solution's practicality and effectiveness.
• Implement: The final stage of the process is implementation. This stage involves communicating your developed idea to stakeholders to encourage its adoption.

Human-Centered Design

Innovation requires considering user needs. Design thinking promotes empathy by fostering human-centered design , which addresses explicit pain points and latent needs identified during innovation’s clarification stage.

There are three characteristics of human-centered design:

• Desirability: For a product or service to succeed, people must want it. Prosperous innovations are attractive to consumers and meet their needs.
• Feasibility: Innovative ideas won't go anywhere unless you have the resources to pursue them. You must consider whether ideas are possible given technological, economic, or regulatory barriers.
• Viability: Even if a design is desirable and feasible, it also needs to be sustainable. You must consistently produce or deliver designs over extended periods for them to be viable.

Consider these characteristics when problem-solving, as each is necessary for successful innovation.

The Operational and Innovative Worlds

Creativity and idea generation are vital to innovation, but you may encounter situations in which pursuing an idea isn't feasible. Such scenarios represent a conflict between the innovative and operational worlds.

The Operational World

The operational world reflects an organization's routine processes and procedures. Metrics and results are prioritized, and creativity isn't encouraged to the extent required for innovation. Endeavors that disrupt routine—such as risk-taking—are typically discouraged.

The Innovative World

The innovative world encourages creativity and experimentation. This side of business allows for open-endedly exploring ideas but tends to neglect the functional side.

Both worlds are necessary for innovation, as creativity must be grounded in reality. You should strive to balance them to produce human-centered solutions. Design thinking strikes this balance by guiding you between the concrete and abstract.

Learning the Ropes of Innovation

Innovation is easier said than done. It often requires you to collaborate with others, overcome resistance from stakeholders, and invest valuable time and resources into generating solutions. It can also be highly discouraging because many ideas generated during ideation may not go anywhere. But the end result can make the difference between your organization's success or failure.

The good news is that innovation can be learned. If you're interested in more effectively innovating, consider taking an online innovation course. Receiving practical guidance can increase your skills and teach you how to approach problem-solving with a human-centered mentality.

Eager to learn more about innovation? Explore Design Thinking and Innovation ,one of our online entrepreneurship and innovation courses. If you're not sure which course is the right fit, download our free course flowchart to determine which best aligns with your goals.

About the Author

How to Write a Business Essay for Impactful Communication and Analysis

So, you've got a business essay coming up, and you're feeling a mix of excitement and a tad bit overwhelmed, right? Totally get it. Writing a business essay might sound boring, but trust me, it's a skill that's gonna come in handy when you're out there in the real world.

In this article, we're dishing out some awesome tips just for you. Think of it as your secret weapon to tackle those business essays like a pro. We'll keep it real, easy, and super practical – no fancy jargon or complicated theories. Let's dive into the world of business essay writing, where your words can make a big impact. In case you lack time or motivation to finish your assignment, use our business essay writing service to streamline the process.

What Is a Business Essay

Business essays are written pieces that explore and analyze various aspects of business-related topics, often focusing on management, marketing, finance, or entrepreneurship. They provide a platform for students and professionals to articulate their understanding of business concepts, theories, and real-world applications. Typically written in a formal and structured manner, a business essay requires critical thinking, research skills, and the ability to communicate ideas effectively. Whether delving into case studies, discussing industry trends, or evaluating business strategies, the essay aims to provide insights, draw conclusions, and contribute to a deeper understanding of the dynamic world of business.

How to Write an Introduction for a Business Essay

A business essay introduction sets the tone for the entire paper and captures the reader's attention. Here are some steps and tips to help you write an effective introduction for a business essay:

• Understand the Purpose of the Introduction

Clearly understand the purpose of your essay. Are you providing an overview of a business concept, analyzing a case study, or arguing a specific point? Tailor your introduction accordingly.

• Start with a Hook

Grab the reader's attention with a compelling hook. This could be a relevant quote, a surprising fact, a rhetorical question, or a thought-provoking statement. The goal is to make the reader want to continue reading.

• Provide Context

After the hook, provide some background or context related to the topic of your essay. Help the reader understand the significance and relevance of the subject matter in the business world.

• Thesis Statement

Clearly state your thesis or the main argument of your essay. This should be a concise and focused statement that outlines what the reader can expect from the rest of the essay. Make sure it is specific and reflects the purpose of your writing.

• Outline the Scope

Briefly outline the main points or areas that your essay will cover. This gives the reader a roadmap of what to expect and helps them understand the structure of your essay.

• Use Clear and Concise Language

Keep your introduction clear and concise. Avoid unnecessary jargon or complex language that might confuse the reader. Aim for clarity and precision.

• Be Relevant

Ensure that every sentence in your introduction is directly related to the topic of your essay. Avoid going off on tangents or providing excessive information that doesn't contribute to the main points.

• Consider the Tone

Choose a tone that is appropriate for your audience and the nature of your essay. Business essays can vary in tone, from formal and academic to more conversational, depending on the context.

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Business Essay Introduction Example

Here’s an example of an introduction for an essay titled “The Rise of E-commerce: Shaping the Future of Retail”:

The retail landscape is undergoing a seismic shift as e-commerce continues to redefine the way consumers shop. In this essay, we explore the profound implications of this digital transformation on traditional retail models and analyze the key strategies businesses are employing to thrive in this dynamic environment. From changing consumer behaviors to the strategic use of technology, the impact of e-commerce on the retail sector is undeniable, prompting businesses to adapt or face the risk of obsolescence.

How to Write a Business Essay

Working on a business essay might seem daunting, but it doesn't have to be. In this guide, we'll break down the process into simple steps to help you navigate through it smoothly. In this next section. We’ll be breaking down the essentials of drawing up a business essay from start to finish. From defining your main argument to structuring your points effectively, let's explore the key strategies that will set you on the path to success. 

Analyze the Prompt

Start by carefully reading and understanding the essay prompt. This involves breaking down the question to grasp what it's asking for, identifying the main topics, and recognizing any specific tasks or points to cover. This step helps you set the stage for a focused and relevant essay by ensuring you address all aspects mentioned in the prompt. You can hire a business essay writer to expedite the process if you want.

Think of a Thesis Statement

When writing a business essay, think of the thesis statement as the essay's compass. It should be a concise, strong sentence that lays out your main argument or viewpoint on the topic. Your thesis guides the entire essay, so make sure it's specific, debatable, and gives readers a clear idea of what to expect in your writing.

Create an Outline

We’ve already shared tips on how to write an introduction for a business essay, so let’s move on to the next stages. Organize your thoughts by outlining the main points and structure of your essay. This doesn't have to be too detailed; just a roadmap that helps you see how different ideas connect. An outline ensures a logical flow in your writing and prevents you from going off track. By the way, have you already picked business essay topics ? If not, here’s a list of great ideas you can use!

Provide Topic Background

Before diving into your main points, the business essay writing format implies giving your reader some context about the topic. Briefly introduce the key concepts, relevant facts, or historical background that will help readers understand the importance and relevance of your essay.

Write the Main Body

Start developing your essay by expanding on the main points outlined in your thesis. Each paragraph should focus on a specific idea or argument supported by evidence or examples. Be clear and concise, ensuring a smooth transition between paragraphs. It’s the most difficult part of the assignment, meaning you can use our college essay service to simplify it.

Write a Conclusion

Summarize your key points and conclusively restate your thesis. The conclusion should tie up the loose ends and leave a lasting impression on the reader. Avoid introducing new information but rather reinforce your main argument. For more details about how to write a conclusion for an essay , please refer to our guide.

Add a Bibliography

List all the sources you used in your research. Be meticulous about citing your references properly, following the chosen format (APA, MLA, etc.). This adds credibility to your essay and avoids plagiarism issues.

Edit and Proofread

As you’ve learned how to write a business essay, it’s time to master the art of self-revising. Review your essay for clarity, coherence, and grammatical errors. Editing ensures that your ideas flow smoothly, and proofreading catches any overlooked mistakes. It's a crucial step to polish your essay and present a professional piece of writing. Do you have another assignment on business management ? This guide will help you!

Choose the Writing Format

Reiterate the importance of selecting and adhering to the chosen writing format throughout the essay. Consistency in formatting, citations, and other style elements contributes to the overall professionalism of your work.

Business Essay Example

Business essay examples offer practical assistance to students tackling assignments by showcasing the application of essential writing principles in a real-world context. As a tangible reference, it demonstrates an effective essay structure and how to formulate a clear thesis statement and provide coherent arguments. By examining examples, students can glean insights into research techniques, proper citation practices, and overall essay organization, empowering them to approach their business assignments with increased confidence and proficiency.

Example 1: “The Impact of Technological Advancements on Modern Business Operations”

This essay explores the multifaceted impact of technology on operational efficiency, innovation, customer relations, and global connectivity. From integrating automation and artificial intelligence for streamlined processes to facilitating global expansion through digital platforms, technology emerges as a driving force shaping the success and sustainability of contemporary enterprises. While acknowledging the numerous benefits, the essay also highlights the challenges and ethical considerations inherent in adopting these technologies, emphasizing the need for businesses to navigate these complexities responsibly for long-term growth and competitiveness.

Example 2: “Sustainable Business Practices: A Strategic Imperative for Corporate Success”

This essay explores the pivotal role of sustainable business practices as a strategic imperative for corporate success in the contemporary entrepreneurship scene. Addressing environmental concerns, social consciousness, and economic viability, the essay delves into the multifaceted benefits of adopting sustainable approaches. It discusses how businesses can align profitability with responsible practices, emphasizing environmental stewardship, social impact, and community engagement. The essay underscores the importance of regulatory compliance and risk mitigation in business by examining the economic advantages and innovation opportunities arising from sustainable initiatives.

Final Considerations

Students engage in writing business essays to develop essential skills and knowledge crucial for success in the professional world. These essays serve as a platform for honing critical thinking, analytical, and communication skills, allowing students to articulate and analyze complex business concepts. Through the process of researching, organizing thoughts, and constructing coherent arguments, students gain a deeper understanding of business principles and practices. Business essays also cultivate the ability to synthesize information, evaluate various perspectives, and present well-reasoned conclusions. If you find with task troublesome, you can always tell us, ‘ write my research paper ,’ and one of our wordsmiths will fulfill the assignment quickly.

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How Many Paragraphs Does a Business Essay Have?

What is the most important part of a business essay, how do you start off a business essay, related articles.

How to Grow a Successful Business

• Search Search Please fill out this field.

1. Get Organized

2. keep detailed records, 3. analyze your competition.

• 4. Understand the Risks & Rewards

5. Be Creative

6. stay focused on your goals, 7. provide great customer service, 8. be consistent, 9. prepare to make some sacrifices, the bottom line.

Starting a business requires more than just a great idea

Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.

To build a successful business, you need more than a good—or even great—idea. You have to be well organized, flexible, and creative, and develop a knack for paying close attention to the details while never losing sight of the big picture. You should also be prepared to make some personal sacrifices. Whatever type of business you have in mind, these nine basic tips, with links to additional advice, can help you get it started and keep it growing.

Key Takeaways

• Starting and growing a business requires good organizational skills, creativity, and constant focus, among other essentials.
• It's important to be aware of your competition, particularly the things it is doing that you might want to adopt or improve upon.
• You'll almost certainly end up working harder for yourself than you would for someone else, so be prepared to make some sacrifices in your personal life.

9 Tips For Growing A Successful Business

To achieve success as a business owner you first have to be well organized. That will help you complete tasks efficiently and stay on top of the many things that need to be done. A simple way to get and stay organized is to create a to-do list each day. As you complete each item, check it off your list. Remember, too, that some tasks are more important than others. Aim to tackle the high-priority ones first.

There are many online resources that are available to help. They include tools like Slack, Asana, Zoom, and Microsoft Teams. That being said, a simple Excel spreadsheet will meet many of a small business's organizational requirements, especially in the early days.

No matter how busy they are, successful businesses take the time to keep careful accounting records . By doing so, they know where their business stands financially and can often get a better (and earlier) grasp of any potential challenges they might be facing. Investopedia periodically rates the best accounting software for small businesses .

Many businesses today keep two sets of records: one physical and another in the cloud . That way, a business owner no longer has to worry about losing crucial data if something unfortunate happens, like a fire, computer virus, or other calamity.

To be successful, you can't afford to ignore your competitors. Instead, take the time to study and learn from them. Larger companies devote significant resources to obtaining this sort of competitive intelligence .

How you go about analyzing the competition can depend on the nature of your business. If you're a restaurant or store owner, you may simply be able to dine or shop at a competitor's place of business, ask customers what they like or don't like about it, and gain information that way.

If you're in a field with more limited access to your competitors' inner workings, such as manufacturing, try to keep up with the news in relevant trade publications, speak with any customers you share in common, and obtain and scrutinize whatever financial information a competitor makes publicly available.

4. Understand the Risks and Rewards

Another key to being successful is taking calculated risks to help your business grow. Besides contemplating the potential rewards if you succeed, a good question to ask is: "What's the downside if this doesn't work out?" If you can answer that question, you'll know what the worst-case scenario is. If you could live with that scenario, and are prepared to take the necessary steps to manage the risk as much as possible, you might want to give it a go. Otherwise, this could be a good time to consider other opportunities.

Understanding risks and rewards includes being smart about the timing of starting a business or launching a new product. For example, the severe economic dislocation during the COVID pandemic provided some businesses with new opportunities (say, manufacturing and selling protective gear) and others with difficult-to-overcome obstacles (such as running a restaurant with constraints on indoor dining).

Always be looking for ways to improve your business and make it stand out from the competition. Recognize that you don't know everything and be open to new ideas and different approaches. 

Keep an eye out for opportunities to expand your current business or develop related enterprises that will lead to additional revenues and provide the benefit of diversification. The history of Amazon provides a good example. The company started out as an online bookseller and grew into an e-commerce giant, selling just about everything. Today it has a growing brick-and-mortar presence, as well. Among its many subsidiaries are Amazon Pharmacy, Amazon MGM Studios, Whole Foods Market, and Zappos.

The old saying "Rome wasn't built in a day" applies to building a business as well. Just because you open a business doesn't mean you're going to start making money immediately. It takes time to let people know who you are and what you have to offer, so stay focused on achieving your goals.

Even many small business owners who ultimately achieve success won't see a profit for a few years and will have to rely on borrowed money (if they can get it) or their own savings to support the business until it can become profitable. Fortunately, there are a variety of ways to finance a business .

That being said, if the business is not turning a profit after a reasonable period of time, it's worth looking into why that is and whether the business needs to go in another direction.

Too many businesses forget the importance of providing great customer service . If you deliver better service for your customers, they'll be more inclined to come to you the next time they need something instead of going to your competition. High-quality service is one key to obtaining competitive advantage in the marketplace.

Some businesses refer to this as a taking a consumer-centric or client-centric approach .

In fact, in today's hyper-competitive business environment, service is often the major differentiating factor between successful and unsuccessful businesses. This is where the saying "undersell and overdeliver" comes in, and savvy business owners are wise to follow it.

Consistency is a key component to success in business. You have to keep doing what is necessary to be successful, day in and day out. This will create long-term positive habits that will help you make money in the long run and create satisfied customers from day one. Customers value consistency, too.

Having your own business often requires putting in more time than if you were working for someone else. That can mean spending less time with family and friends than you wish you could. The adage that there are no weekends and no vacations for business owners can ring true for anyone who's committed to making their business work.

Owning a business isn't for everyone. If, after an honest self-evaluation, you decide you aren't cut out for it, you'll save yourself a lot of grief, and probably a lot of money, by pursuing another career path.

What Is the Fastest Way for a Business to Grow?

Businesses will grow at their own rates, and many times this is out of the control of the business owner or workers. However, there are some aspects to running lean that may help a business grow quickly, such as focusing on a small product line, scaling up at a manageable pace, and providing some sort of obvious edge over your competitors.

How Do You Increase Sales?

Increasing sales can come from a few different places. You can raise ad expenditures where advertising has already proven effective, proactively solicit referrals from existing clients, build a direct-to-consumer email list, and others. You can also expand your product portfolio, but if the new additions underperform, that will negatively affect your bottom line.

What Makes a Startup Successful?

Business success is a difficult concept to quantify, but if it means generating returns for stakeholders, startups can be an excellent way to deliver returns. The best startups have a good product or service that is scalable. A well-run startup will understand the overall market and its particular place in it, be able to pivot quickly, and be ready to take advantage of opportunities when they present themselves.

Growing a successful business is hard work, and not everyone succeeds at it. According to 2022 data from the U.S. Bureau of Labor Statistics, about 20% of new businesses fail during their first year, 50% fail during the first five years, and 65% fail during the first 10 years. Only 25% of new businesses make it to 15 years or beyond.

If you want to be among that 25%, paying attention to these nine tips is a good start, but certainly not exhaustive. To own and run a successful business you'll want to be in a state of constant learning and adapting.

Prime Video Amazon Studios. " Amazon MGM Studios Scores 68 Primetime Emmy Award Nominations in Studio's Biggest Year Ever ."

Amazon Pharmacy. " Save Time, Save Money, Stay Healthy ."

Amazon. " Subsidiaries ."

U.S. Bureau of Labor Statistics. " Business Employment Dynamics – Table 7. Survival of Private Sector Establishments by Opening Year .”

• How to Grow a Successful Business 1 of 28
• The Basics of Financing a Business 2 of 28
• Factor Definition: Requirements, Benefits, and Example 3 of 28
• How Much Working Capital Does a Small Business Need? 4 of 28
• How to Sell Stock in Your Company 5 of 28
• How SBA Loans Can Help Your Small Business 6 of 28
• 4 Steps to Getting a Small Business Loan Without Collateral 7 of 28
• 5 Biggest Challenges Facing Your Small Business 8 of 28
• Simple Ways to Keep Your Business Going in Hard Times 9 of 28
• 7 Popular Marketing Techniques for Small Businesses 10 of 28
• Small Business Is All About Relationships 11 of 28
• Balance Sheet vs. Profit and Loss Statement: What’s the Difference? 12 of 28
• Lines of Credit: When to Use Them and When to Avoid Them 13 of 28
• How to Accept Credit Card Payments 14 of 28
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• These Are the 5 Best Bank Accounts for Your Small Business (April 2024) 17 of 28
• The Cost of Hiring a New Employee 18 of 28
• Raise vs. Bonus for Your Small Business Employees 19 of 28
• Outsourcing: How It Works in Business, With Examples 20 of 28
• Commercial Health Insurance: Definition, Types, and Examples 21 of 28
• Best Health Insurance Companies for Small Businesses for 2024 22 of 28
• Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) 23 of 28
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• Don't Get Sued: 5 Tips to Protect Your Small Business 26 of 28
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Why Some Companies Grow Amid Uncertainty — and Others Don’t

• Simon Freakley
• David Garfield

A survey of 3,000 global executives suggests that it’s not strategic thinking that sets them apart. It’s their inclination to move quickly.

When you cannot base strategy on reasonably certain premises — or when those reasonable premises are undone by unforeseeable events — what is a company to do? You still have to make plans, allocate capital, and invest for the future. Some argue that agility is the key to thriving in disruptive times, but if all you do is pivot, you are just going around in circles. The annual AlixPartners Disruption Index surveys 3,000 global executives about what is knocking them sideways. Among other things, it shows that three out of five say that it is increasingly challenging to know which disruptive forces to prioritize. Amid all this, there is a group of companies doing very well: about one in five said their companies lead their industry in revenue growth. In this article, the authors dig into that 2024 data to find out what sets these companies apart, and what other companies can learn from them about setting growth strategy in an uncertain world.

Strategic planning plays a key role in helping companies anticipate and manage business cycles. But forces like emerging digital technologies, climate change, and deglobalization — not to mention “black swan” events like the Covid-19 pandemic and wars — have turned a rolling sea into a choppy one, where companies are beset by currents, crosscurrents, riptides, and squalls. This multiplicity of related, unrelated, and inter-related difficulties have one thing in common: They are unpredictable.

• SF Simon Freakley is the Chief Executive Officer of AlixPartners, a post he has held since 2015. He is based in New York.
• David Garfield is a Chicago-based partner and managing director of AlixPartners, and the global leader for the firm’s industry practices.

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10 Growth Strategies Every Business Owner Should Know Effective growth strategies are vital for businesses aiming to achieve sustainable growth and long-term success.

By Kaloyan Gospodinov • Jun 7, 2023

Opinions expressed by Entrepreneur contributors are their own.

In today's competitive business landscape , achieving growth and success requires strategic planning and implementing effective growth strategies. Whether you're an entrepreneur launching a small startup or overseeing the operations of an established business, having a clear growth strategy is essential. This article will explore ten growth strategies that every business owner should know. These strategies encompass various aspects of business operations and can help drive sustainable growth and long-term success

1. Market penetration

Market penetration entails expanding your market share by maximizing sales of your current products or services within your existing customer base. This strategy focuses on capturing more of the market through aggressive marketing and sales tactics. It may include offering special promotions, expanding distribution channels or improving customer service to encourage repeat purchases.

Related: How to Grow Your Profits in a Niche Market

2. Product development

Product development focuses on creating new and innovative products or enhancing existing offerings to meet your target audience's changing needs and preferences. By investing in research and development , you can stay ahead of your competitors and bring in new customers. This strategy requires understanding market trends, conducting market research and leveraging customer feedback to develop products that provide unique value propositions.

3. Market expansion

Market expansion involves entering new markets or targeting new customer segments. This growth strategy allows you to tap into untapped markets, diversify your customer base, and reduce dependency on a single market. It requires market analysis, identifying new opportunities and adapting your services or products to meet the specific needs of the new market.

Related: How to Expand Your Business to Over 30 Markets in 5 Years — 7 Tips for Successful Growth

4. Strategic partnerships

Strategic partnerships can be a powerful growth strategy for startups and small businesses. You can leverage each other's strengths, resources, and customer bases by partnering with complementary businesses. Collaborations can range from co-marketing initiatives and cross-promotions to joint ventures and strategic alliances. The key is to find partners that align with your brand values and have a mutually beneficial relationship.

5. Customer retention

Protecting your current customer base is as vital as gaining new ones for sustained growth. Customer retention strategies focus on building long-term relationships and creating loyal customers. Customer retention can be achieved through personalized communication, exceptional customer service, loyalty programs, and continuous value delivery. Happy and loyal customers become repeat buyers and brand advocates, promoting your business to others.

6. Competitive pricing

Pricing plays a vital role in attracting customers and staying competitive. Implementing a competitive pricing strategy involves finding the right balance between profitability and affordability. Conduct market research to understand your competitors' pricing, analyze your cost structure, and consider factors such as product differentiation, perceived value and customer willingness to pay. Adjusting your pricing strategy accordingly can help you capture market share and stimulate demand.

Related: Business Expansion and the Best Time to Think About it

7. Digital marketing

A solid online presence is vital for any business in today's digital age. Digital marketing strategies include leveraging social media marketing, search engine optimization (SEO), email marketing, content marketing and paid advertising to achieve optimal visibility and effectively connect with your targeted audience. By utilizing digital channels, businesses can increase brand visibility, generate leads and engage with customers globally.

8. Employee development

Investing in employee development is essential for both individual and organizational growth. Access to training, mentorship programs, and career advancement opportunities can significantly impact one's professional growth and development. Enhance employee skills, boost productivity, and foster a positive work culture. In addition, engaged and empowered employees contribute to business growth by driving innovation, improving customer satisfaction and achieving operational excellence.

Related: Why Poor Employee Development Is a Mistake You Can't Afford

9. Customer feedback and insights

Listening to customer and gaining insights into their preferences and pain points is invaluable for business growth. Implementing mechanisms for collecting and analyzing customer feedback allows you to identify areas for improvement, make informed decisions, and tailor your products or services to meet customer expectations. For example, utilize surveys, feedback forms, social media listening, and customer satisfaction metrics to gather valuable insights and enhance the customer experience.

10. Continuous innovation

In order to stay competitive, it is crucial to take proactive steps toward success and drive. Prioritizing continuous innovation is vital to ensuring growth for businesses. This involves fostering a culture of creativity, encouraging new ideas and embracing change. Innovation can take various forms, including product innovation, process innovation and business model innovation. As a result, businesses can differentiate themselves and maintain a competitive edge by continuously exploring new opportunities, adapting to market dynamics and leveraging emerging technologies.

Effective growth strategies are vital for businesses aiming to achieve sustainable growth and long-term success. With the right growth strategies in place, your business can thrive and reach new heights of success.

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How to Write a Business Essay: an Ultimate Guide

Table of Contents

Writing an essay can be boring. A lot of essays are basically the same thing over and over again. You write an introduction, then you write your supporting paragraphs, and then you create a conclusion. Overall, the process is not a lot of fun, and you can often feel as though you are simply going through the motions for the sake of churning out extra work. But since you have to write an essay, it’s worth considering the many ways that you can make the process faster and easier. In this ultimate guide, we’ll discuss the best way to write a business essay so you can get through the process faster and with relatively little trouble.

It might seem obvious, but the first thing you need to do when you write an essay is to read the essay question. You need to be sure you understand each part of the essay question and how the parts of the question work together. You would be surprised how many students only glance at the question and then write a paper that only partially addresses the assignment. You don’t want to lose points because part of your paper isn’t on topic. If you find any parts of the paper that you don’t understand or that require explanation, be sure to contact your instructor for clarification before you start writing.

Read the essay rubric

These days, most essays have a grading rubric included with the question. A grading rubric is like a cheat sheet for writing your essay. When you review the essay rubric, you’ll see exactly how your instructor will grade your paper and what your instructor will be looking for. When you write your paper, you will therefore know exactly what to include and how to write about it in order to maximize your points—and you’ll also see what you can spend less time on because it won’t contribute to your overall grade.

Make friends with your library

Many students automatically turn to search engines like Google in order to research their papers, but this is not the most effective way to find high-quality business sources for your paper. Instead, take advantage of your library’s databases. Your college or university library will likely have dedicated business databases that collect high-quality academic articles on business topics. Using these resources in your paper will make your essay stronger and more effective, and it will put your paper on a solid academic footing.

Compile your sources before you write

Many students use the start-and-stop method to write their papers, composing a sentence or two and then stopping to look up more information in order to keep going. This, however, is an inefficient way to work. A better way is to read through your research sources before you start and copy into a separate file a series of quotations and facts that you might use in your paper, creating in-text citations and reference list entries for each before you start. Doing so will make sure that you don’t have to stop for research and have a ready bank of pre-cited material to work with as you write.

Outline before you write

Outlining is an important skill that will both save you time and improve the quality of your essay. Take time before you write to lay out your paper from beginning to end. Start with your thesis statement and carefully lay out the body paragraphs with a topic sentence, supporting details (including research, quotes, and citations ), and a closing paragraph . Plan your transitions to link paragraphs together. Any amount of outlining can be helpful, but the more effort that you put into outlining at this stage, the easier it will be to write your paper, and the less likely it will be that you get stuck in a tangent that goes nowhere or meander into a point that requires you to change your thesis and revise you whole essay.

Remember to revise and proofread

When you finish the draft of your paper, you aren’t done yet. The first draft is rarely the finished product. You should always set aside time to read your work back and to make revisions to make it clearer. You also need to carefully proofread for mechanical grammar, punctuation, and syntax issues to ensure that your paper is as close to perfect as possible. You don’t want to leave points on the table because your paper had easy to fix minor spelling or grammar errors.

Consider professional writing help

Another great way to get your paper done quickly is to seek out custom professional help from an essay writing service with academic experts. An online writing company such as this can create business papers for college students and deliver them fast. When you utilize professional writing assistance, you can receive a custom-written essay that can serve as a great model to help you understand how a professional would approach your business topic and organize and develop an essay to address your assignment. Using a model such as this can save you time and effort as you work on your own paper, allowing you to focus on the learning process more than the mechanics of academic essay writing.

Join the thousands who have sharpened their business writing skills with our award winning courses.

Copyright © 2024 Businesswritingblog.com.

Business Essay and the Best Way of Its Writing

• Academic Writing Tips

• Social Science
• Political Science

Business is an essential aspect of today’s evolving world. It is a lucrative industry that impacts many sectors, including education. Business-related courses are popular as many students are pursuing the programs. There are many branches in the business field, from business management to finance. College tutors often give students different business papers to test their knowledge as part of the assessment.

A business essay is an academic assignment that involves writing a paper that responds with a strategic and analytical approach to specific situations occurring in the market. Each business essay has a different topic that students tackle. However, the primary purpose of such essays is to collect relevant facts that align with the research question and analyze the data to get solutions.

Writing a business essay might seem simple, but it requires impressive writing skills and extensive research. You must be familiar with the topic to know the paper’s direction. Topic selection is a tricky section that affects the entire writing process. It is essential to identify a relevant topic to assist you in crafting a remarkable paper. You have to write a well-structured and compelling paper to get good grades. Presenting accurate arguments with supporting examples from reliable sources is an essential research aspect. Thus, a business essay must follow the required academic standards and theoretical frameworks.

However, writing is not everyone’s cup of tea, and incorporating logical arguments can be challenging. If you are stuck, you can check any business essay example online to understand the format. You will know how to structure the paper and relate it to the relevant themes.

That is why our writing service is here to help needy students craft exceptional essays. We will connect with a proficient business essay writer to help with the research and writing process. Get flawless documents from us and earn the best score in your class.

Business Essay Format

Most learners often overlook the importance of having a business essay format. It is imperative to use a format to help you outline your work. Proper thought organization and articulation are essential aspects that translate into a well-written business essay.

Below is an example of the format:

• Introduction
• Background information
• Introduce main topics
• Thesis statement
• Topic sentence
• Research explanation
• Restate points
• Significance of the study

The above outline is a map that will guide you to know what to include in each section. In addition, you will understand what the assignment requires you to do from the introduction to the conclusion.

If you still find it challenging to get the proper format, you can study a relevant business essay example from our site and jumpstart your paper. Whether you need a business school essay or a business plan essay, we have you covered.

Write Business Essay In 5 Steps

While writing might seem challenging, with the proper format and topic familiarity, you are on the right track. It is imperative to understand the writing process before composing your business essay. You need to read the prompt carefully to know what you are supposed to research and write about.

Here is an overview of the writing process in 5 simple steps:

• Topic Selection

Choosing a good topic is mandatory in crafting an excellent paper. You must select a theme that aligns with the research question. Additionally, ensure you select a familiar topic you are passionate about to avoid writing mistakes and illogical paragraphs.

• Extensive Research

Conduct extensive research to get facts and supporting evidence. Narrow down your theme and include only good points. Avoid broad topics because you will waste time during research.

• Essay Outline

Make sure you use a proper outline to organize your thoughts and line of arguments. Follow the format essay

Start writing your paper while using the required academic format. Organize your work and include the introduction, main body paragraphs, or conclusion.

• Editing and Proofreading

Finally, edit and proofread your essay to eliminate grammatical and spelling mistakes.

The above steps will help you during business essay writing to craft remarkable papers. It would be best to plan your time adequately to avoid rushing through the process. However, you must select an appropriate topic for your paper. It could be a business management essay or a marketing paper. No matter the subject discipline, ensure you follow the correct procedure.

Business Essay Topics

Our experts have compiled a list of different business essay topics to inspire your writing:

• Discuss the importance of bookkeeping in a business.
• Evaluate the impact of value addition in products.
• An analysis of income and expenditure transactions.
• Analyze the supply-chain industry.
• The effects of product promotion in business growth.
• How to develop an effective marketing strategy.
• Impact of policymaking in enhancing company productivity.
• What is multilevel marketing?
• Impact of technology in the business world.
• Discuss the challenges affecting entrepreneurship.
• Significance of human resource management.
• Explore the importance of budget analysis.
• How does technology impact advertising?
• The importance of a financial strategy.
• How to start an online business.
• How can organizations profit from sustainable practices?
• How to develop a positive organizational culture.
• The importance of employee diversity in an organization.
• Effective ways of fraud prevention in a company.
• Explore the communication channels in an organization.

Let us look at interesting argumentative business essay topics

• Discuss the influence of cultural differences on international companies.
• A comprehensive analysis of cryptocurrencies.
• Discuss the ethical dilemmas in international organizations.
• The influence of globalization on the business community.
• Should large organizations have a social media presence?
• Causes and effects of economic recession.
• Impact of politics on business growth.
• Discuss the effective strategies of negotiating cross-cultural business deals.
• Explore the integrity of online entrepreneurship.
• The impact of corporate social responsibility in an organization.

The field is quite diverse with various course programs. You can derive different topics from these programs to get logical arguments. So, get inspiration from the compelling business school essay examples and craft exceptional papers.

How To Start A Business Essay

Knowing how to start a business essay is essential for academic writing. The first step entails topic selection because it will determine the essay’s direction. Identifying a relevant topic is vital, and you need to ensure you get the suitable theme. It will also help save you time during research and simplify the writing process.

When it comes to essay writing service , business papers are among the assignments that require extensive research and analysis. Read the essay prompt carefully to understand the tutor’s expectations. Then, make sure you conduct a comprehensive brainstorming session to get the major points for your paper. Having the right points will help you compose logical arguments in a flawless manner.

Moreover, it would help to read previous essays and publications from reliable essays widely. You will get essential data to support your arguments. Besides, the sources will help you cite your essay correctly.

Start your essay with an insightful introduction and include your perspective regarding the topic. Incorporate a powerful thesis statement that informs your readers of the paper’s direction and the major points you will discuss.

Proceed to write the body paragraphs with a topic sentence that captures all significant arguments. Each paragraph should have well-explained arguments that flow logically.

Finally, conclude your business essay by restating your main points and the significance of the study.

Still, need help with your paper? Worry no more. Our competent business essay writers are on standby, ready to assist you with any academic paper. Stop wasting time and reach out to us. We will help you score top-of-the-class grades within no time.

The paper “Enterprises Resource Planning Success and Failure” is an outstanding example of a business essay. An Enterprise resource planning (ERP) system according to Aslan et al. (2012, p.693) is a management system within an organization that has sets of connected inclusive software, which may be used when espoused and put into practice effectively, to oversee and connect every organizational function. Basically, ERP systems may be employed as a tool for helping to improve the supply chain network as well as the level of performance by helping in decreasing cycle times.

Besides that, ERP systems have been utilized routinely in capital-intensive industries like building, construction, manufacturing, as well as defence. Latterly, ERP systems have advanced further and nowadays they are prevalent in industries such as education, health care, finance, hospitality, and telecommunications. Fundamentally, the benefits of ERP systems are hard to realise not unless a strong disposition, as well as participation, is established within the organisation; so, the article seeks to critically analyse ERP success and failure experienced by organisations.

BodyAs mentioned by Hellens et al. (2005, p.283), ERP systems are built upon a single database and application, as well as a coordinate that is unified in the whole organization. For that reason, every application serving different departments such as HR, accounting, and supply chain are integrated firmly under a single ERP system. Al-as observed by Al-Masha et al. (2003, p.354), ERP systems are useful when successfully implemented because they accelerate the process of decision-making. So, the success of ERP systems depends on the ability of an organisation’s managers to efficiently oversee the operation of a business, given that ERP systems can help them reduces operation costs.

Success drivers of ERP systems can be categorised into two: operational and technological drivers. In this case, operational drivers are associated with ways of improving organisational performance, supporting business strategies, as well as cutting production costs. On the other hand, technological drivers are predominantly associated with compliance with existing rules and regulations. The notion of success varies as the process of implementation continues, in that for planning and implementation (the first two stages of the cycle) success is mainly rooted in completing the ERP project to the standards that are acceptable within the budget as well as a time limit.

As pointed out by Hanafizadeh et al. (2010), stabilization as well as Improvement (the last two stages of the cycle) success is founded on the seeming impact of the ERP system on the performance of the organization. As indicated in Hanafizadeh et al. (2010) study, there are scores of factors vital for the success of ERP systems; support is top management one of the factors, and it involves encouraging commitment, positivity, and support of top management in the ERP project. Another factor is the utilization of knowledge as well as experience of system and technology consultants.

Additionally, the balanced project team is crucial for the success of ERP systems because it includes the integration of employees and information technology with the broad knowledge of the processes in the organization. As evidenced in Hellens et al. (2005) study, the accuracy of the information is crucial to the success of ERP project, so, data loaded from accessible legacy systems must at all times be of high quality. ERP project cannot succeed if the project management teams do not have a well-defined, detailed project plan related to the goals of the project.

Change management is also a success factor in the implementation of ERP project; so, careful attention has to be offered to this, considering that several changes in business processes are experienced during ERP systems implementation. Training and education are also important given that technical expertise regarding the ERP system, its reference model, and facts regarding its working are useful in the process of implementation. Other factors crucial for success consists of, availability of experts who aside from being in top management will frequently help the organization realize ERP system benefits.

Failure of ERP projects has been prevalent, and this has continued to bite worldwide across all business platforms. As pointed out in Xue et al. (2005, p.279) study, ERP poise substantial benefits like improving customer service, reducing manufacturing costs and boosts productivity, but these benefits are only realised after successfully implementing the ERP systems. Nevertheless, statistics show that implementation of ERP systems is still a failure amongst scores of companies. Statistically, 90 per cent of ERP systems implementations in Asia countries, especially China are either completed late or use more money and resources than those stipulated in budget.

In Xue et al. (2005) study, where they differentiated implementation success of ERP system in China as well as western countries, they noted that China had a higher percentage of failure which was attributed mainly to lack of support from top management as well as data inaccuracy. Other factors that led to ERP failure include poor participation, education and training, insignificant time ensuing from a minimal understanding of cross-operational organisational processes (Dechow & Mouritsen, 2005, p.691). Furthermore, ERP systems are exceedingly expensive, and also the need for the organisation to hire consultants to assist in the configuration as well as implementation, results in further escalation of price; thus, creating a high possibility of failure.

The cost used on consultants is almost thrice the cost of an ERP system; this negatively affects the productivity of the company and can lead also to the failure of the ERP system. ConclusionIn conclusion, it has been argued that ERP systems are beneficial because they improve the flow of information between every function of the company and also manages the connections to external stakeholders. Currently, the key basis of competitive advantage is the capability of a business to improve the processes of the supply chain.

This necessity has created the need for more advanced information systems like ERP systems. The articles have heightened numerous factors critical to the success of ERP, and which have allowed companies to efficiently plan their resources resulting in business efficient functionality and increased productivity. Failures as discussed in the article are caused by lack of support from top management, data inaccuracy, and lack of sufficient education and training.

The paper “New iPhones Show a Hit For Apple as Quarterly Profit Fluctuate 13 Percent” is an outstanding example of a business literature review. Yao (2014) explains that China is expected to provide information about its weakest growth since the occurrence of the global financial crisis within the third quarter while the property downturn is assessed based on manufacturing and investment. As a result, more pressure has been put on Beijing to unveil new stimulus measures. According to Yao (2014), the market assumes that the Communist Party leader will be able to adjust to the gradual slowdown. This will happen only in circumstances where there are no possibilities of experiencing a potentially destabilizing fluctuation in unemployment. However, anything weaker would lead to more speculations of key stimulus measures, for instance, an interest rate cut. Although the leadership has consistently provided steady aid specifically to vulnerable sectors of the economy, it has been noted that several stimuli have been ignored because China is still struggling to pay a huge local government debt (Yao 2014).

Article 2: New iPhones show a hit for Apple as quarterly profit fluctuate 13 percent

Due to strong demand for APPLE’s new larger-screen iPhones released in September, its quarterly profit increased by 13 percent. This also enabled APPLE to overcome the sluggish iPad sales (Jones 2014). Despite the more intensifying competition felt by Samsung Electronics as APPLE’s leading Smartphone competitor, Jones (2014) points out that the iPhone is attracting more consumers who are also ready to pay high prices particularly for cutting-edge handsets. Through its latest phones, Apple is profitably catching with its major competitors, such as, Samsung that have from time to time managed to post attractive sales of larger phones. It has also been noted that the marketing strength that iPhone has gained stands in contrast to sluggish iPad sales and the issues affecting Samsung’s Smartphone business (Jones 2014).

Article 3: Coal not the solution for poverty

Couchi (2014) examines that cheap coal-fueled electricity is highly considered by miners and politicians as the best alternative way out of poverty, particularly for developing nations. However, Africa has not considered this. In the business report provided by Couchi (2014) about the U.S financial group Citi, it can be noted that the booming market for African electricity has been a result of the coal approach. In the attempt to reinforce coals bearish outlook, Couchi (2014) reports that Citi discovered that a new International Energy Agency (IEA) outlook on the commodity is in contrast with the idea of BHP, the US coal producer Peabody as well as the Minerals Council of Australia which maintains that coal would play an integral role in minimizing energy poverty, particularly for developing countries. Despite its metallurgical and thermal forms, coal is considered the second-biggest mineral exported from Australia after iron ore (Couchi 2014).

Article 4: Ebola could be in the headlines, but tobacco is yet another killer in Africa

Research conducted by The Guardian (2014) shows that although Ebola dominates the headlines, there is yet another killer pandemic of great importance that continues to kill many people in the African continent unnoticeably. It is has been noted that tobacco kills at least one between two long term smokers. Currently, it is anticipated to kill 1 billion people globally before 2100. This is relatively more compared to the current number of people who die of Ebola. The Guardian (2014) terms this global issue as injustice and inequality because Transnational Tobacco Companies (TTCs), such as UK-based British American Tobacco (BAT) earn humungous profits yet they cause economic damage worthy over half a trillion dollars each year. Besides, TTCs contribute more to environmental degradation and thus create risks that compromise the health as well as the sustainability of populations. To earn more profits, TTCs are currently shifting and expanding their business to untapped markets in regions with unrestricted opportunities for growth (The Guardian 2014).

Article 5: NAB, ANZ lead pack in building home-lending share

The home loan is still considered the major driving force in recovering credit growth for banks. In this case, National Australian Bank (NAB) and ANZ are on the frontline to encourage the big banks in taking the advantage of the mortgage market, while home and business lending are sustainably becoming strong. Therefore, NAB and ANZ have put on media their fastest growth out of the big in all the past three months (Yeates 2014). Despite the faster growth and expansion made by NAB compared to their rivals in home lending, Yeates (2014) notes that analysts see business lending as a bigger concern because the bank has lost shares and faced more pressure, particularly on its margins. Generally, the home loan market is considered a major driving force that enables banks to recover from credit growth regardless of the risks associated with life specifically in business lending (Yeates 2014).

The paper “Globalization and Culture” is an outstanding example of a business essay. Today, it is common to hear people refer to the world as ‘a global village’. This has been a result of the process of globalization. This process has opened up and improved trade across regional and national borders. Not only has globalization enhanced economic interactions across nations but also improved access to information and uplifted the fight for human rights, among other benefits. Recent technological and communication developments along with improved road networks have been the key drivers of globalization. However, critics of globalization say that these benefits have been realized at a very high price: that of surrendering regional and national cultural values, mainly, for Western morals (Kwame, 2007).

Regarding this debate, two key schools of thought emerge. From one angle critics argue that globalization spreads out any and every culture all over the realm, leading to cultural heterogeneity and deeper understanding between diverse groups. This is mainly defined through the global production and distribution of commodities such that people in different parts of the world have access to commodities they would otherwise have never seen. A case in point is the cultural interaction between the United States and Japan. Teens in the U.S interact with the Japanese culture through their comic books, animations and video games, while teens in Japan interact with the American culture through watching TV shows and Hollywood movies produced in the U.S (Kwame, 2007).

On the flip side, critics argue that globalization erodes the regional and national cultural identity through cultural homogeneity. This leads to a cohesive global culture constituting diluted varieties of regional and national cultural nuances. For instance, French pastries, ‘American’ fried chicken, and Japanese sushi can be eaten in almost any part of the world. Restraint chains such as MacDonald’s and Starbucks have influenced traditions and behaviors in different countries. Even though champions of globalization claim that this merely affects consumer goods and media broadcasting, critics contend that it deteriorates customary culture ((Kwame, 2007; Czinkota, 2003).

Culture is a prevalent aspect in business whether it is in marketing, production, or human resource management. It is a key variable in the function of success in new markets (Czinkota, 2003). People’s purchasing decisions are based on a product’s design, style or color that supports their religious beliefs and practices. Empirical evidence shows that the success or failure of a company, especially, in a foreign market is reliant upon the effective managerial exercise of local religious beliefs and practices. Therefore, managers ought to be on familiar terms with their market’s religious differences given that religion influences people’s attitudes. For instance, Asians have a different attitude toward authority and women that differs from Western beliefs and practices. Whereas many parts of the world, including Asia, South America, and Africa, value collectivism very much, Americans are more individualistic. Chinese, Latin Americans and Koreans take time casually even as Americans are more proactive.

Failing to appreciate the religious beliefs and practices of the market will often lead to lots of inadvertent mistakes, such as being socially violent, cultural mix-ups, tarnished interpersonal relations, poor negotiations. As a consequence, the company’s future performance dwindles as profits decline. Lack of religious competence, or religious dogmatism, can easily put at risk millions of dollars through fruitless negotiations, lost purchases or sales, and pitiable customer relationships (Czinkota, 2003).

Cultural Literacy

Culture is a broad system that includes traditions, beliefs, attitudes, values, institutions and social interactions. This system reflects the global crunch facing the human race, and so it is a cultural catastrophe (UNESCO 1997). Dealing with such a cultural diversity calls for an important skill referred to as cultural competence. Chrisman (2007) defines cultural competence as ‘attitudes, practice skills, and system savvy for cross-cultural conditions’. The key force in work involving cultural competence is the people’s flexibility and ability to appropriately consider and treat the general public politely and in a proper way fitting their culture. Cultural literacy takes account of cultural competence plus the capacity to analytically mirror, and if needed institute change in, one’s a specific culture. Cultural literacy also comprises the capacity to examine the actions of central cultures measured against other cultures. This becomes very much useful in business. A case in point is the understanding of the effect of globalization or cross-cultural businesses on indigenous cultures all over the world.

Cultural literacy has been likened to an iceberg, through the iceberg model of culture. This is due to the expanse contextual material one requires to understand the culture. Cultural literacy often involves much more than the information essentially spoken. In other words, to understand the meaning of a cultural term, one has got to have much information that is not revealed by the bare meaning of that term. The clear cultural meaning of the term is like the ‘tip of an iceberg’ meaning that the deeper understanding lies below the casual meaning of the term and it constitutes a person’s own applicable information. It is known that 15 per cent or less of an iceberg can be seen above the water surface, 85 per cent or more of the iceberg is submerged below the water surface. This means that there is quite a different picture depicted shallowly from that which is the actual translation in the literature, giving the imprint that implied information comprises relatively tiny bits and pieces of information, left out by the correspondent due to dismissal or suitability (Hawkes, 2001).

Figure 1: Iceberg Model of Culture

It has been stated earlier that culture is a broad system that among other aspects involves religion. The world is very diverse in terms of culture as well as religion. Each culture embodies a creation in itself and yet it is not closed. Cultures give religious convictions semantics, and religions provide decisive connotation to each culture. Religion is a way of life for numerous cultures saturating every one human action. In other cultures, it characterizes the utmost ambitions of human life, and for others, religion is an institution that claims to convey a meaning of deliverance (Hawkes, 2001).

The paper “The Different Communications ” is an outstanding example of a management assignment. Phone: 23 rd August: the communication was made to remind that the bill for the mobile phone is outstanding and if not paid within the date will have a fine imposed on it. The communication was successful as it helped to fulfill my need and acted as a reminder. Further, the call also ensured that it was complete and all the details like outstanding amount, due date, late fine, and other details were provided. The call was complete and highlighted the important aspect which if ignored could have an impact on my usage.

Radio: 24 th August: The communication was made regarding the areas which are having huge traffic and showed the roads which should be avoided. The communication was successful as it helped to fulfill my requirements by highlighting the different roads which need to be avoided and which need to be used. The communication was further clear and loud regarding the different roads and path which should be avoided. This method acted as one where proper guidance was provided and acting in the correct way was highlighted so those correct decisions can be taken.

Communications that were unsuccessful

Television: 24 th August: The communication was made regarding the sale of women’s garments. The communication was ineffective because in the first instance it didn’t meet my needs and requirements as I was not looking to shop. Secondly, the message was not constructed properly as it didn’t speak about the brands which were available on sale, the different garments which were available, and also didn’t highlight the date when the sale would end.

Phone: 25 th August: The communication was made regarding the mobile bill payment which has already been made. The call was ineffective because it was not required as the payment has been made and I had the required receipt. The call was instead a wastage of time. In addition to it, the call was not constructed properly and required to focus on areas through which a message would have been enough as a source of communication to ensure that the payment was correctly entered.

Reasons for communication not to be successful

The communication process can be improved in the following ways

Firstly, ensuring that the communication which is made is required and is addressed properly so that the person who receives the communication gains from it (Nicholas, 2013)

Secondly, providing complete information is essential as it will serve as a benchmark to evaluate the manner in which different information is passed (Anne & Bochner, 2007). It will also help to understand the important matter which has been spoken and will help to highlight the manner in which changes can make so that proper communication and message is passed

Thirdly, the targeted audience was wrong and it is important to correct the audience (Mehrabian and Susan, 2007). This will help to improve the validity and reliability of the communication and will ensure that the process of communication becomes effective and is directed towards the correct person

Fourthly, the process of communication needs to be improved and changed so that the message is correctly interpreted and passed with the same intention (Imahori & Lanigan, 2012). This will help the listeners to evaluate the message in the correct form and will help to ensure maximum response.

Fifthly, the media which are used needs to be chosen wisely as the usage of a message instead of a phone call for bill paid confirmation would have been more helpful and could have caught the attention of the audience in a better way. This would have multiplied the effectiveness of communication and would have helped to understand the important points and issues.

The process of communication thereby requires working on the smaller and important aspect so that the overall process of communication improves and helps to provide the required dimensions through which effectiveness can be gained in the manner messages are passed.

The paper “Why Did Telefonica Initially Focus on Latin America” is a perfect example of a business assignment. Based on Telefonica’s objectives of rapidly increasing shareholder value, profits and achieving growth, it had to take advantage of location economies. Hence, the company initially focused on Latin America, as it must have perceived FDI to be a means for circumnavigating trade barriers. Indeed, the reasons why Telefonica initially focused on Latin America are perceivable through the lens of the Uppsala Model Theory.

According to the theory, the internalisation of a company across many foreign markets is correlated to psychic distance, where the first entry is to foreign markets that are familiar and closer in regards to the psychic distance of the host country, before making subsequent entries in foreign markets with greater psychic distance. Psychic distance comprises the differences in culture, language and political systems (Falvo & Parshad 2005).

Within the perspective of Uppsala Model Theory, it should be argued that companies tend to gradually increase their activities in international markets through a series of incremental stages, where the succeeding steps are anchored in learning and adapting to foreign markets (Pandian & Sim 2002).

This implies that the firms fast gain experience from the markets, where they have closer cultural ties before expanding to foreign markets. For instance, Telefonica had to first gain experience as a telecoms operator in Latin America, since the region has deep cultural ties with Spain, where it is headquartered.

Strategic competitive advantages

The company’s decision to slowly expand to Europe appeared opportunistic as well as strategic. Europe had initially possessed trade barriers that lowered the chances of successful entries. Essentially, there is a correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers, in terms of competition are bypassed in preference to those that are less competitive (Enu & Attah-Obeng 2010). This argument is based on Dunning’s Eclectic Theory, which hypothesises that a company will always seek to leverage their specific advantages, including marketing, knowledge, skilled personnel, technology and information (Dunning 2001).

In this case, the Latin American markets were growing rapidly. They also experienced an increased high adoption rate and usage of mobile phones and internet connections. Additionally, after the Spanish government privatised Telefonica and deregulated the Spanish telecommunications market, the company’s core objective became increasing shareholder value, profits and achieving growth.

This implies that profit maximisation is a major drive to foreign direct development; through the use of particular advantages the company has (Glesem et al. 1990). It, therefore, had to select a region that would enable it to achieve higher profits. The company selected Latin America over Europe. Latin America had few entry barriers, such as competition and government regulations, while Europe had greater barriers due to more competitors. This implies that imperfect competition within the marketplace is a key incentive for expanding abroad. Besides, European mobile telecommunications operators had agreed they would not invade each other’s markets. However, after the entry of America Movil into Latin America, Telefonica faced a stronger competitor, forcing it to expand to Europe.

Commenting on other student’s post:

Why did Telefonica initially focus on Latin America?  Why was it slower to expand in Europe, even though Spain is a member of the European Union?

While the student hinted at the growth of multinational enterprises, a brief outline detailing why the company expanded and reasons for expansion could have provided a more relevant backdrop. Additionally, the reference to the Socialist Party by Popular Part in the general election of 1996 was irrelevant and out of context. The student’s decision to link the factors for the European Union to the opening of the telecommunications sector was misplaced. Rather, the student should have selected reasons why Telefonica selected to begin operating in Latin America before making headway to Europe. However, reference to high competition in the sector in Europe was justified.

Accordingly, the student should have explored the close cultural ties between Spain and Latin America, as the major drivers that triggered Telefonica to first launch in the region before expanding to Europe. In supporting the argument, a reference to a relevant theory, such as the Uppsala Model Theory could have pointed to the reasons why internationalisation of a company across many foreign markets is correlated to psychic distance (Uhasselt. be 2005). This includes why the initial entry is mostly made in foreign markets that are familiar and closer in regards to the psychic distance of the host country. Afterward, an explanation of what this meant to Telefonica based on the theory could have been appropriate (Gustafsson & Zasada 2011). For instance, the student should have stated that firms get to fast gain experience from the markets where they have closer cultural ties before expanding to foreign markets.

The student should have based his arguments on Dunning’s Eclectic Theory, which proposes that firms tend to use their peculiar advantages such as marketing, knowledge, skilled personnel, technology and information (Rugman 2010). Further, he should have stated that companies view FDI as a means to circumnavigate trade barriers before going forth to describe the correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers in terms of competition are bypassed in preference to those that are less competitive.

While the student was also justified in arguing that the company sought to maximise profitability and to increase shareholder value, no basis was provided to support the argument, based on the case study. At this stage, the student should have suggested a theory to support his argument (Morgan & Katsikeas 1999). Later, the student should have provided examples from the case study to defend the choice of the theory he selected. However, the student provided examples outside the case study, such as “Telefonica has been able to establish footprints in 24 countries and having an average of 120,000 professionals with consolidated revenues of 24,957 million euros in January-June 2014 and more than 315.7 million customers at June 2014”

Additionally, the reasons the student outlined as the likely motivators for Telefonica to launch first in Latin America before making entries in Europe cannot be justified, as they have not been argued appropriately. For instance, in suggesting political developments, taking policy advantage and the fact that the markets shared a common language, the student should have discussed the concept of psychic distance and the related theory, such as the Uppsala Model Theory.

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Table of contents

How to Grow Your Business: 15 Steps We Actually Took Growing to $3.5M/Year

This isn’t a guru guide. And it’s not a listicle of “best practice.” These are the 15 steps we actually took to grow into a multi-million-dollar business, so you can too.

Alex Turnbull

25 Min read · 1951 shares

After seven years, 2,000+ customers, and growing from $0 to $290K+ in monthly revenue, I want to pull back the curtain on exactly what it takes to grow a business. Good, bad, and ugly.

I almost shut the whole thing down.

It was two years ago.

Our business had stagnated . My head of marketing had just left.

I didn’t know if it was worth it anymore.

Those are the dark times. The moments entrepreneurs rarely talk about.

Growing a business isn’t all sunshine and rainbows.

It has tremendous highs. And deep lows.

We’ve tried a lot of growth strategies over the last seven years.

Many of them didn’t work for us.

But a few have been… honestly… really great.

That’s what I want to show you: the field-proven growth strategies we’ve tried, refined, and found to be successful.

What follows is a comprehensive guide to grow your business—broken into three stages and 15 steps.

Launching a small business: A love song to pain, products & people

• Identify pain points… then, a business idea
• Create a minimum viable product
• Write a business plan press release
• Get to you know your potential customers
• Really get to know your new customers

Growing your new business: Cost-effective marketing strategies that work

• Use content marketing to drive organic search
• Own your social media channels but be cautious of ‘paid’
• Build your email list (by any means necessary)
• Hold to your core values and question them
• Shift to a business owner mindset

Scaling to the next level: From startup to successful business

• Invest in people and process to grow your team without you
• Pay attention to bottom-line metrics and cash flow
• Leverage growth strategies, not ‘growth hacks’
• Listen and love your current customers
• Create an (even more) kick ass product experience

Given how many options exist for support software, it’s not surprising that one of the questions I got early on—and still do—was, “Why? Why build Groove?”

The answer was simple: I couldn’t find the right software for my small business. And the disconnect between what I needed and what was available hurt.

At the time, I’d spent three years building Bantam Live. In 2010, that business sold for $15M to Constant Contact. Back then, we primarily used Gmail for support. When we did dip our toes into “help desks,” we ended up slogging our way through complex interfaces and bloated feature sets.

The pain points were personal, and I needed a solution.

In essence, that’s the gravitational center of any new venture—start with the pain.

1. Identify pain points… then, a business idea

Naturally, you’ll need to validate that pain in the wider market. Were other people having the same problems I was having? To answer that question, I interviewed a number of leaders—people I’d connected with and trusted.

In contrast to advice about validating demand or determining the “total addressable market” (TAM), I asked pointed questions about their lives in relation to my own pain.

Beyond truly category-creating products and services—which are far more rare than entrepreneurs like to think—your initial problem won’t be quantifying TAM, but having the courage to enter a competitive space.

I knew demand was out there. Customer service, customer experience, and customer relationship management (CRM) are massive marketers with huge players.

Don’t let the big names deter you. Rather than fear competition, embrace it.

Join the conversations and actively listen with your coworkers, friends, or a random stranger in a cafe. Seek out online communities where people congregate to talk about problems—like Reddit, Twitter, and Quora. Stalk your soon-to-be competitor’s own FAQs, reviews, and especially their online forums.

Search for words or phrases where the intent is to solve a problem:

• “I can’t seem to”
• “Help, I’m struggling to”

Step 1. Find the pain.

You don’t have to have a unique business idea. What you do have to have is a problem to solve. Once you’ve found the former, only then work out how you can do the two things that every business needs to do to succeed: (1) deliver value and (2) profit from it.

2. Create a minimum viable product

Once I had the idea to create Groove, that’s literally all I had. No prototype, no customers and no funding. Zilch!

The first version was outsourced. Working closely with a small four-person development team, we got a teaser site and a beta app completed in about four months.

That was all I needed to validate and test my assumption that there was demand for a simple alternative to Zendesk.

We launched the trial and a week later had over 1,000 private beta signups. This allowed me to:

• Collect feedback
• Test the product
• Learn about our users
• Improve our product

Creating an MVP fills the gap between idea and business. Of course, there were downsides as well, which you can read in the full story of how it all began for Groove. But no downside is worth the cost of waiting.

Step 2: Just make something and make it real.

It doesn’t really matter what approach you take. Starting isn’t the time to be a perfectionist, especially when it’s preventing you from doing the most important thing: pushing go.

3. Write a press release, not a business plan

I write press releases like they’re the new-age business plan.

Even though they’re not intended for public distribution—and rarely see the light of non-Groove day—press releases force you to nail a compelling story in a coherent and simple way.

• Give readers a hook
• Outline the problems
• Describe your solution in as few words as possible
• Identify the goals—particularly the numerical goals and metrics
• Write them in the past tense (as though they’ve already been accomplished)
• And then, make up quotes from customers to put flesh on it.

Do whatever you need to in order to nail the story .

Here’s the first page of the one I wrote way back in 2011…

Step 3: Write your story as a press release.

Prospects care very little about your business. They care about themselves and their problems—we all do. Create a story your customers can buy into by painting a vision of the future.

4. Get to know your potential customers

Nearly every mistake we made can be attributed to not understanding our customers well enough.

For instance, early on, we spent $50K building the wrong site and the wrong product. Another time, we lost $12,000 by discounting and, as a result, reduced the perceived value of our product. More recently, we dramatically increased retention by lowering the price .

Do those last two sound contradictory? They’re not.

Again and again, we screwed up because we didn’t hold fast to what is perhaps the most important principle in business: conversations with customers and prospects are the most valuable assets you have.

How do you get better acquainted? A lot of customer development… with the right tools.

Sure, much can be done “by hand”—one-to-one emails, social media conversation, video conferences, and phone calls. But we also gained extremely valuable insight by using a number of data collection apps:

• KISSmetrics for deep insights into our visitors and customers
• Crazy Egg for helping us understanding where our site was failing
• Qualaroo for breakthrough lessons about why visitors weren’t converting

I talk to many entrepreneurs who think that some of these apps are too expensive. They say things like, “When we get big enough, we’ll pay for it.”

We wouldn’t have gotten big enough without paying for it. These apps have paid for themselves many times over in improving revenue, helping us position our messaging better, and giving us insight into the minds of our customers.

Step 4: Collect firsthand data on your customers.

Research isn’t sexy nor easy. It is, however, the only way to get a deep understanding of your audience and customers that will put you ahead of your competitors.

Still, apps aren’t everything. And neither is one-on-one data collection. The two need to work together…

5. Really get to know your new customers

Customer development is an intensive, ongoing process. We’re learning new things every day, and we don’t set limits on how far to take customer development.

Breaking through comes when you balance tools and data with person-to-person conversations.

For the latter, use a mixture of proactive and reactive methods to better understand how customers interact with your product or service and what they think of it.

(1) Get proactive with email

We send an email to every customer asking them why they signed up. We started this in the early days of Groove and continue to do so today.

This email has single-handedly given us a wealth of insights into the triggers that cause people to sign up for Groove, and we’ve been able to apply those to our marketing with tremendous results.

(2) Stay on top of inbound support requests

There’s a reason that I, as a CEO, spend more than half of my time doing customer support: it’s that valuable.

Getting to see exactly what our customers think and feel—love and hate—about our app is a huge advantage when it comes to what to build, fix, and upgrade next.

All businesses have to do customer service, but we’ve made it a crucial part of our customer development flow.

(3) Mix quantitative with qualitative

We continue to proactively send Net Promoter Score surveys to gauge customer loyalty and, more importantly, collect qualitative feedback from our customers.

To say that we have learned a lot would be an understatement. It gives us an accurate view of exactly what people like—and dislike—about Groove.

We have no plans to stop doing these.

(4) Prioritize one-on-one

With all of the hacks and tools out there, I’ve found that there’s still no substitute for one-on-one conversations with customers.

Round-tables in groups might work for some brands, but we have predominantly focused on speaking to each customer personally. It’s why, during the first few years, I made it a point to talk to every single Groove customer .

Nothing is better than one-on-one conversations for gathering deep insights and raw, unfiltered feedback.

Do yourself a favor and either get on chat, pick up the phone, or sign into Skype.

Step 5: Seriously, spend time with your customers.

Customer conversations are not a one-time task or a project, they’re a way of running a business—one that should never be put on the back-burner.

6. Use content marketing to drive organic search

Content marketing has been the single biggest driver of growth for our company.

Content . This blog. Guest blogging. Our customer service blog . Courses. And more.

Before we started blogging, traffic would come in bursts when we got news coverage or social media buzz. That’s not a sustainable way to grow, and we knew that we needed a better long-term strategy.

Evergreen traffic has helped us go from a $30k per month business at the end of year one to a $100k per month business after year two to a +$500k per month business today that ranks on the front page of Google for many of the topics we write about.

Like any strategy, the results of content marketing depend completely on setting the right goals and executing the right way. If your goal is to have a blog and you execute by writing blog posts, then that’s all you’ve accomplished.

If your goal is to build your business through content, there’s more to consider. Literally anybody can do it as long as you follow two guiding principles.

First, promote the absolute hell out of it. Within a few weeks of launching the blog, we had thousands of subscribers. That wasn’t just because the content resonated with people.

It was because we spent time building relationships with people, doing influencer engagement and promotion. When we hit “publish,” the work is only half done.

Good content is useless to your business without relentless promotion. And if, like many people, you feel “spammy” promoting your content, consider two things.

One, if your content is truly valuable, then you owe it to people to get it in front of as many eyeballs as possible. Two, influencers are influencers because they add value to their audience. If your content adds value to their audience, they’re happy to share it.

Second, optimize the absolute shit out of it. “B” content—mediocre content—is easy and plentiful. That’s why “A” content devours links and social shares. By taking a few extra hours on each post, you can exponentially increase the effect of your content.

Over time, you learn what your audience finds valuable—from topics to format and structure. The key is not to half-ass it. Invest in good, thoughtful content that solves real problems for people.

Step 6: Start blogging, right now.

It’s the single highest-return strategy we’ve implemented for user acquisition. But blogging for blogging’s sake isn’t enough. Find a specific, unique angle to deliver value to your readers, and do it better than anyone else. You’ll be rewarded forever.

Here’s a quick checklist to go from nothing to something to a massively successful blog.

5 steps to make your blog a business growth engine

• Figure out what your audience’s pains are. Send out surveys. Talk to them. Do keyword research .
• Write content that solves those pains by using the PAS structure to outline your posts : problem, agitation, solution.
• Optimize for search engines. Below you’ll see a preview of how we’ve systematized this step (along with the entire creative process).
• But don’t forget about the people. Temper SEO by using compelling images and screenshots, telling stories, citing data, and showcasing real examples.
• Build an audience who wants to hear from you. Get influencers on your side, write guest blog posts , and collect email addresses.

7. Own your social media channels but be cautious of ‘paid’

Our most “active” social media platform is our Twitter account . We use it as a distribution channel to promote our latest blog posts or communicate other company-related news.

But that’s about as far as we go with branded social.

Not because social media isn’t something you should consider, but you should be cautious of how quickly you can burn through your time and cash on these channels. Especially if you go the paid route.

Facebook is dominant in this space due to its targeting capabilities, allowing marketers to define and reach specific audiences that fit their target market. Google Ads rank second on the paid front—or, as it’s more broadly known, SEM (search engine marketing).

Truth be told, neither paid route has worked well for us.

Instead, invest in the organic side of social media. Test ways to encourage organic sharing and share other brand’s related content too.

What has worked for Groove is our personal accounts as an additional channel to express our brand and its story—starting with all the lessons I’ve learned about entrepreneurship:

1/ They tell you not to share stories like this publicly. “It scares customers and hurts team morale.” Or so they say. Well, fuck ‘em. Here goes… In late 2017, I almost walked away from the $500k/mo company I founded. — Alex Turnbull (@alexmturnbull) July 18, 2019

By the way, there’s a whole write-up on our blog about how you can approach content distribution for your business .

Step 7: Get active on social and be real.

Social media works quite well for some industries, but it’s not the only way to sell your product and engage your audience. If you are going to use social media for your business, make sure you have the proper resources to build out an effective strategy to avoid burning through your budgets.

8. Build your email list (by any means necessary)

Before we launched this blog, we had a few hundred email subscribers at most.

It was a ragtag bunch we’d collected through various announcements and press releases; they weren’t exactly the type of readers who would dependably become customers down the line.

And yet, 24 hours after launching our blog, we had more than 1,000 new subscribers sign up. Five weeks later, we hit 5,000 subscribers.

How? In two stages…

At first, through the power of other people’s audiences. Nearly a month before we launched the blog, we began building a list of influencers we wanted to build relationships with.

We looked for people who had the audiences we wanted to reach and who could personally get value out of our content.

Then, we began engaging with them. We left thoughtful, conversation-provoking comments on their blog posts. We shared their content. We did things that would be valuable to them wherever we could. We sent small asks that paid off big:

Notice that we didn’t send them the post; we asked if we could send it to them. This is a technique we learned from Derek Halpern, and immediately set us apart from the hundreds of others shoving content in the influencers’ faces.

We showed them that we respected their time and expertise, and as a result, more than 85% of the people who received that email said yes.

(Even better: when you do send a post to someone you’ve mentioned and linked to, do not ask them to share it . Instead, send them something like, “We included you in a recent post: [link to your post]. If you Ctrl + f for ‘[anchor text],’ that’ll jump you straight to your section. Could you let us know if that’s the right link?”)

As soon as we launched the blog, only then did we ask each influencer—many of whom were now invested in our success, having spent time reading and giving feedback—to share the first post.

This gave us huge exposure to audiences those influencers had spent years creating. In turn, when they shared it, that channeled tens of thousands of unique visitors—and thousands of subscribers.

Then, we got systematic. Today, we use every opportunity available to grow our email list using ConvertKit as our tool of choice. It’s pretty meta, but this post itself is a great examples:

• Static (sticky) email opt-in bar at the top
• Sidebar with a similar, but longer CTA to subscribe
• A 30% scroll-depth modal (pop-up) for the content upgrade
• Multiple in-article images, captions, and links that trigger the same modal

Step 8: Get those emails!

First, leverage the power of other people’s audiences. Second, never miss an opportunity to build your email list. Make it easy to opt-in at every turn.

9. Hold to your core values and question them

Core values aren’t for us, I told myself.

Core values are something that big, slow, old-fashioned companies have. They’re meaningless, churned out by people who get paid to do nothing but churn out things like core values. And they get stuck on a cheesy poster, taped to a wall, looked at once⁠—if at all⁠—and forgotten forever.

Boy, was I wrong.

You can read it for yourself, defining our core values transformed our business… but that didn’t last.

After I publicly declared how game-changing our core values were, we realised that some of them weren’t actually helping us .

So, we hired Elizabeth O’Neill , an experienced business coach, to get things back on track. She challenged us, guided us, and helped us define our new core values. Because of that, we’re a completely different company today.

By having someone help our leadership team question our core values, we were able to make the necessary changes. Customer satisfaction increased, team morale was much higher, and our tech started running smoothly.

Step 9: Define your values. And change from the outside in.

Don’t make the same mistake I did. I waited too long to change our core values when it was very clear they weren’t working. Also, consider hiring a business coach to help you work through them and remain impartial. For us, it was worth every cent.

10. Shift to a business owner mindset

My goal in sharing all of the lessons, stories, and learnings is to get you thinking about your own business goals. Especially how you can accomplish them strategically and systematically.

Having a business owner mindset isn’t inherited, you build it.

As much as I learned in college, I didn’t have a single class that covered marketing automation, hiring, cash flow management, growth hacking, product development, company culture, customer support, or sales.

There are a lot of things that—before starting my last company—I didn’t know how to do. As an entrepreneur, one of the scariest things in the world for me is that uncertainty.

• What am I not doing? Probably a lot.
• What if I’m doing it wrong? I probably am.
• What am I supposed to do in this situation? I have no idea.

There’s no way to make smart decisions with that sort of self-doubt.

Fortunately, it can be overcome. There are so many entrepreneurs who are smarter, more experienced and more successful than I am. Much of their wisdom is available for free on the internet.

So I dove in.

I spent an entire weekend tracking down the richest, most highly-regarded blogs and publications on the web. I listed every single one I could find, and then I devoured every post I could on those sites.

It took me three days to gather enough knowledge to take our business to the next level. For the list of blogs I came up with, check out this spreadsheet .

• Copyblogger taught me how to put together the email autoresponder that now gets delivered to every free trial user. Introducing that sequence boosted conversions by more than 30%.
• Neil Patel (via KISSmetrics ) helped us write headlines that converted 2-4x better than our previous versions.
• And HubSpot convinced me to stop looking at pageviews and start looking at the metrics that actually mattered (more on that below).

This insight is all 100% free, and it has made a huge difference in the success of Groove. I still make it a priority to devote at least an hour each day to keeping up with some of the highest-value blogs on the internet.

Once you’ve done your research, you’ll have more ideas for growth strategies than you’ll know what to do with.

Step 10: Don’t just adopt an owner’s mindset, act on it.

There’s so much free advice out there for startups and small businesses, you’re robbing yourself if you don’t take advantage of it. Too many people look at reading blogs as a way to waste time, rather than the amazing investment in their business that it truly is.

11. Invest in people and process to grow your team without you

“Are we doing everything we can to put together the right mix of talent to take Groove to the next level? How can we hire the right employees as we grow?”

Those are the questions I now ask myself on a daily basis.

Despite my best efforts to find a technical co-founder at the start, I definitely held onto people I shouldn’t have. Without this kind of knowledge, it was very difficult to trust and verify the individuals that were on the team in the early days.

I got burned a few times because of it. This is all changed in 2018 when the company had stagnated and desperately needed a shake-up.

We changed our organizational structure, hired specialists, and welcomed new routines and processes.

Ditch the generalist for a specialist

If you rely on your team to do a role outside of their expertise, you’ll end up with overwhelmed employees delivering average results.

Every day will be a question of who’s done that , who is working on this, and who owns this project?

A startup looking to scale up needs to identify the most critical roles needed to achieve your goals, and make sure a specialist is taking care of it.

Elevate new leadership and bring in new skills

Take the time to check-in with your current employees and ask them where the gaps are. What are they struggling with? What roles do they think would be important for the company?

This is a great opportunity to identify leadership opportunities for existing employees. If you still have a missing skill that’s needed, you will need to hire and bring those skills in.

Embrace the new routines and processes

Hiring specialists will bring expertise, structure, and process to your team.

When you identify and allow these specialists to take the lead on what they’re truly great at, you’ll be able to identify issues or potential problems and workshop a solution a lot faster with their help.

Track, verify… then trust

The primary reason I got burned in the past was that I’d trust first, track and verify second. Acting like “startup” Alex—scrappy, entrepreneurial Alex (as a opposed to business-owner Alex)—worked brilliantly when that’s what we were. At scale, it’s a recipe for disaster.

I will never ever, ever get burned again. And you don’t need to get burned either.

This may sound harsh, but business-owner Alex trusts only after he verifies.

How? By aligning someone’s role and responsibilities with trackable metrics and then ruthlessly verifying the value they’re creating is 100% a direct reflection of those goals.

Step 11: Make it about them , not you.

Your people are the key to your success. As you begin to scale, embrace the fact that you’ll need structure, organization and different types of people on the team—people who are world-class specialists at what they do, not simply generalists who figure things out as they go.

12. Pay attention to bottom-line metrics and cash flow

We nearly hit rock bottom. Yep. There was a dark time in Groove’s history when our startup nearly died . Not once, but twice . Both led to the organizational shake-ups I mentioned before that we desperately needed.

The first time was 2013. This was the weekly email I dreaded that came from our metrics provider.

We knew content marketing would be a long game, but we hoped for at least something to budge. At least a sign that we were on the right track.

But that didn’t happen.

We had spent so much time building the product, trying to get it perfect; feature after feature. Weeks poured into building the most amazing website that was inspired by countless hours of examining the competition.

To scale up, sometimes you have to scale back.

This saved us. Our cash flow should have been a wake up call earlier, but we spun our own spider web and got caught in it at the same time.

Alongside many of the other lessons, the centerpiece in moving past each breaking point was to obsessively track and set aggressive goals for growth. In short, you’ve got to have your basic KPIs mapped out, preferably feeding into a dashboard that you and your team discuss on a quarterly basis.

While I can’t share all the numbers , here’s exactly what we track week in and week out using Supermetrics and hand-entered data:

• Website visitors (total)
• Onboarding flow: sign-up to new free trials
• Trial to paid with a two-week lead time
• MRR (monthly recurring revenue)
• Accounts and total “agents” (Groove users)
• Voluntary church post-60 days

The marketing and content team likewise abides by tightly-monitored KPIs:

Dashboards and reports like these are just the tip of the metrics iceberg. Behind them are tabs and tabs and tabs of data.

However, everything has to roll up into easy-to-read single sources of truth.

Make sure that you’re looking at your qualitative and quantitative data so that you formulate key results that are in line with those goals.

While we do set revenue goals, there’s no “number” that represents a finish line for us. We’re in this to grow Groove into the best customer experience software company on the planet—though not necessarily the biggest.

A short ‘rant’ about cash flow and investors

Cash flow is a funny thing. Tragically, most founders are less worried about sustaining cash flow within a profitable company versus spending money they don’t have in order to grow. When you fall for the latter, that’s where debt and investors can turn ugly.

At Groove, we manage cash flow with a rigid mindset—even at the expense of potentially not growing as fast if that means raising money, taking on risk, and giving up control.

Too many people take the crutch provided by investors, institutions, VCs (venture capital), and angel investors because they don’t want to look at how they can build a profitable business.

To put it bluntly, they end up fucked either from the get go—by taking on too many founders and too many partners—or they put themselves in a corner where they have to grow massively.

Even if it’s a small amount in the beginning and you’re not priced right in terms of the valuation, the result can still be: “Oh shit. We have to be a $200 million company for me to have any upside. Okay, I’ve just got to go out and feed the beast.”

That’s not to say that all funding is bad because it all comes in different phases, but you need to be dead set on where you are and where you want to go.

Step 12: Fuel your scaling efforts by the numbers.

You don’t necessarily have to adopt a rigid mindset when it comes to managing cash flow, but you should have basic KPIs figured out. Discuss them regularly with your team and make sure they continue to align with your overall business goals.

13. Leverage growth strategies, not ‘growth hacks’

Many of our big wins at Groove haven’t been tactical.

• No A/B tests of button colors
• No swapping icons and images
• No playing with email send times

We’ve done those things. And we’ve gotten some results from them. But they’re not the big wins. Maybe one day we’ll be big enough where changing our button color makes a material impact on our bottom line.

Our big wins—the ones that actually push the business forward—have come from (1) finding upsell paths in the sales funnel and (2) building a repeatable and profitable sales process.

Let’s break down how this works when you’re trying to acquire new customers and push them through the funnel.

Top of the funnel: Attracting new users

We began to think about what startups and small businesses would find useful, and we started writing those pieces. One post was accepted as a guest post submission on OnStartups , and another was syndicated by Business Insider . We even studied successful small business-focused blogs and created a 44-point checklist that listed the elements that we thought made those blogs work.

Our early blogging was hardly groundbreaking. But it didn’t need to be. To go from 100 visitors per day to over 1,000 was more than we needed to jumpstart our growth, and that traffic was mostly due to a few pieces of content that our audience was able to learn from:

Of course, our inbound strategy has been (and still is) constantly evolving, and we’re seeing returns now that dwarf what those first few posts brought in (and yes, I’ll be writing about that). But that initial step of starting to blog was the most important one.

The other strategy that helped us move the needle on user acquisition was…

Middle of the funnel: Acquiring new users

One afternoon, frustrated by the lack of progress in our acquisition efforts, I decided to start asking our newest users how they found out about us. I didn’t put together a survey or set up an email blast. I just sent a quick, personal note to the last 20 people who had signed up.

That email turned out to be one of the best marketing decisions I ever made. What I heard back was absolutely enlightening.

Of the 14 users that responded, eight of them replied that they saw an awesome help widget on the website of a company that they loved, and they emailed those companies to find out who was behind their helpdesks.

People were coming to us because they saw our product, and they had to ask our customers who we were.

We were hiding from incredibly high-value prospects in plain sight.

If those eight customers loved what they saw enough to put in the effort and track us down, how many potential users were out there who never bothered to follow up?

As it turned out, a lot. Two days later, we pushed a change to the Groove help widget. We added a small hyperlink that said “Powered By Groove” that directed customers to our site.

The impact was immediate. Within three days, 100 visitors came to our site through the widget, and 19 of them became customers.

Bottom of the funnel: Activating new customers

More than any other challenge, activation was our primary post-launch focus. If you can’t get users actually using your product, then your acquisition efforts are all for nothing.

When it came to overcoming the activation challenge, the first piece of the puzzle was to optimize our onboarding process.

Groove simply had too many features. It was overwhelming for new users.

Because of that, we had a seven-step onboarding flow that took about seven minutes to complete. It asked the user to engage with nearly all of our features, and it turned out to be a huge abandonment point.

A few years ago, only 15% of users who began our onboarding flow would continue all the way through it.

The product issue was hurting us in more places than just activation, and we were forced to strip it down by removing several ancillary features, and putting other features and integrations in an “App Store” that would only be accessed by a user after they were engaged.

We also asked our most engaged customers what their “wow” moment with Groove was. The one when they knew that this was the right tool for them.

The responses we got made it clear that for most users, the “a ha moment” came when they created a mailbox and looked at their new dashboard.

The metrics confirmed it: users who created a mailbox during their first session were nearly six times more likely to return for a second visit. We scaled the flow back and focused it on getting users to complete that single, simple task.

The result? Over 4X the engagement.

That’s a huge boost in activation, and it all came about from looking at usage metrics and talking to our users.

Since we knew that the big challenge was getting users to create a mailbox, we set up the autoresponder for free trial users to focus on that single call to action.

Any user who didn’t create a mailbox during their first session would get an automated email to nudge them back to that simple little task.

We saw within two weeks that users who received the activation emails were 18% more likely to stick around than users that didn’t.

Step 13: Know your funnel (top to bottom and back again).

Make sure you know where your most valuable customers are coming from, and double down on those channels.

Find out where the friction in your onboarding process is—and get rid of it. Know what your product’s activation triggers are and do everything you can to get your users to complete them.

14. Listen to and love your current customers

I’ve said it before, but customer development is an ongoing process for us.

We find every opportunity to connect personally with our customers and encourage them to share their feedback. It helps reduce churn and identify the leaks in your acquisition and retention strategies.

In fact, we made the announcement that we were lowering all of our prices by 30% in 2020. Why? Because we never want price to be the reason that a small business doesn’t choose Groove, or continues to stay with us.

A lower price means we’re going after more scale, but the other part that goes hand in hand with price is value.

No matter what price you put on your product or service, the customer still needs to feel that they are getting value from what they’re paying.

Here’s how we’ve addressed the “value leak” and retained our current customers.

Automated ‘nudges’

The automated activation emails mentioned before didn’t just serve to engage first-time users.

By continuing to send automated “nudges” to existing users after they became active, we introduced new features and functionality in a much more digestible way, which ultimately led users to get far more value out of using Groove.

These engagement emails helped us drop 30-day abandonment by almost 20%. We also had another secret weapon in the battle against abandonment.

Offering free support during their trial

As we started to track everything more closely, we began to notice a trend: the small subset of free trial users who emailed us for support were nine times more likely to become paying customers by the end of their trial than those who never reached out.

It’s a bit counterintuitive (which is why you must test every assumption), but my suspicion is that this is due to those customers simply putting more value on (and getting more value from) Groove from the very beginning.

If they weren’t getting great value from us, they likely wouldn’t bother asking for help when they hit a snag.

So, following the 80/20 rule , we doubled down on free trial support. We made the contact links more prominent and began to send calls to action encouraging users to reach out to us if they needed help. We were able to achieve a 20% lift in the number of users who did actually reach out, and we started focusing on making sure that those users had absolutely “wow” experiences.

Step 14: Love your customers at scale.

Failing to really listen to your customers and show them you care can lead to churn and create leaks in your sales funnel. Future proof your business by finding ways now to help your users get value out of your product.

15. Create an (even more) kick ass experience

Beyond actual product enhancements, we’ve been able to improve the customer experience by making everything around the product better.

• Better email onboarding helps customers get productive faster
• Proactive support makes customers comfortable
• Behaviorally-triggered emails get “at-risk” customers back on track

In addition to pricing changes, we’re also working on more core enhancements, new features, and new products . This includes two of the biggest requests we’ve had from our customers over the last two years.

Number one, building a new live chat feature which will be available on all current Groove plans. Number two, a deeply extended CRM.

All that’s great, but it’s actually not the point.

The point is that product development is second to customer experience: marketing, selling, and solving the problems that got you into business to begin with.

Scaling organizations regularly fall into the trap of adding features for the sake of adding features. This is even more true if you pay too much attention to your competitors.

Product development has to be in the service of better experiences. Even if you’ve reached product-market fit, there will always be more you can do to make customers fall deeper in love with your solutions.

Business growth: The adventure that never ends

By no means have we reached peak growth. We’ve still got miles in front of us.

That’s what makes growth such an adventure.

Flooded with uncertainty? Yes. Professional stress with no barrier to personal hardship? Absolutely. A manic road of highs and lows? Of course.

But, a road worth the journey? Without a doubt.

On that note, let me end with three questions:

• For those of you launching, what’s the driving pain behind your business?
• For those growing, what tactics have helped you move beyond “zero to one”?
• For those scaling, what’s the single-greatest lesson you’ve learned as a leader?

Oh, and if you’ve made it this far without downloading the full guide , here it is one last time. Remember: build that email list 😉…

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Are you a growth leader? The seven beliefs and behaviors that growth leaders share

What makes someone a growth leader? In conversations we’ve had with business leaders, the answer tends to boil down to a variation of “I know it when I see it.” But it turns out that there is a specific set of attributes that growth leaders share.

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After carrying out a survey of 165 C-suite executives and senior vice presidents with growth responsibilities and conducting in-depth interviews with 20 executives, we found that growth leaders 1 For the purposes of our research, we defined growth leaders as executives of companies that achieved a compound annual growth rate more than 4 percent higher than their peers, coupled with higher profit margins. Respondents came from both North America and the European Union, and occasionally there were regional variations in their methodology. have seven specific beliefs and behaviors.

Furthermore, our research shows that executives who adopt more than 70 percent of these mind-sets manage to grow their top line twice as fast as their peers. We’ve boiled down these beliefs and behaviors to seven statements that reflect the convictions of today’s growth leaders.

1. I am all in.

Always put growth first. Growth leaders put growth at the top of every agenda, from board meetings to performance reviews. As the president of a global consumer goods company put it, “Growth is priority number one, two, and three.” This disciplined focus on growth is reflected in a profound belief that “growth is everywhere” and opportunities to outgrow peers can be found in every industry.

That mind-set is supported by our research. From other McKinsey analysis , our findings show that there is a growth-capability gap of 20 to 46 percentage points between top and bottom performers. This indicates that growth is possible in any industry when growth leaders back up their faith with committed action.

Growth leaders also demonstrate this kind of commitment by constantly scouring for funds to invest in growth. They have a clear vision of where every incremental dollar they find should be invested, and they actively manage that allocation by helping those affected (shareholders, owners) understand why.

Keep raising the bar. No matter how ambitious growth targets are, the legacy business will revert to business as usual unless constantly challenged to be more aspirational. Growth leaders do this by setting targets that seem almost impossible to reach, forcing teams to strive for greater impact. The CMO at one tech company told us that the CEO set growth targets at three times the market rate, adding, “We exceeded two-and-a-half times market growth. We were rewarded for pushing hard and not hurt if we failed.”

Growth leaders are 50% more likely to treat growth as the first or second item on the agenda when speaking to the board

Unite the business around growth. Growth leaders make growth the central focus of everyone in the business by creating a common belief and language. For example, they cocreate growth goals and metrics with their leadership teams and then help translate them into metrics for every individual at every level. Establishing this kind of shared and cocreated language binds employees together to think about how they can contribute to top-line growth. One technology-company leader created a single set of growth targets that tied directly to the incentives of 250 managers across the business: “Whether you’re in legal, marketing, sales, or service, you’re bound by the same aspirations.”

2. I am willing to fail.

Make plenty of bets. Growth leaders make more growth bets than their peers. They create a portfolio of initiatives, protecting the necessary resources and funding. In fact, growth leaders in Europe are 70 percent more likely to make multiple growth bets rather than just a couple. By managing a scaled portfolio of growth bets, they improve their probabilities of success while diversifying risk. A former tech-company board member explained, “Winning big has such huge rewards that it’s more important than how often you lose.”

Growth leaders are 70% more likely to make multiple long-term growth bets rather than just a few (in the European Union)

Back the risk takers. Effective leaders have always been good at delegating, but growth leaders go a step further by instilling a culture that empowers people to make decisions. Some 40 percent of growth leaders in North America, for example, are more likely to be comfortable with middle managers and frontline employees making important decisions.

Growth leaders are 70% more likely to protect or set aside money in the budget to fund growth initiatives, teams, and capabilities (in North America)

Growth leaders set clear and ambitious goals (#1) and communicate progress effectively to the business (#6), but then they step out of the way so that people in the business can iterate on solutions to deliver on the growth aspirations. That starts by encouraging risk taking even at the smallest level and celebrating rather than punishing people for trying. As a former CMO of a technology company put it, “If you want people to lead your business into growth, things will go wrong. Having support helps people become risk takers.” EU growth leaders are 40 percent more likely to have explicit incentives to reward risk taking in their teams.

3. I know my customer as a person, not as a data point.

Growth leaders are 70% more likely to build an understanding of customers’ needs through formal and informal methods (ethnography, surveys, in-store visits, etc)

Take the customer’s side. Most business leaders believe they put the customer first. But the truth is that the pressures of leading a large business—shareholder relations, risk management, and so on—mean that the customer too often becomes an afterthought. Growth leaders are resolute, however, in putting the customer at the center of all their decisions. An executive at a global apparel brand admitted, “Whenever I’m in meetings and being presented with options to decide on, my first question is, ‘What’s in it for the customer?’”

Growth leaders are 50% more likely to build an organization that puts the customer first (in North America)

Make it personal. Many of the best companies have strong customer-insights organizations. Customer insights and analytics are crucial to supporting growth. But growth leaders go the extra mile by embracing design thinking and taking the time to build empathy with the customer. As the executive at a manufacturing company, who spent a whole day shadowing one customer, put it: “I followed this customer from 6:30 in the morning until he went home at the end of the day. That gave me so much insight into what he needed, what his fears were, and what we could do as a company.”

4. I favor action over perfection.

Put yourself on the line. Growth decisions can make or break a career. Growth leaders aren’t afraid to take that risk. That can mean trading short-term gains for long-term benefit or making large resource-reallocation decisions. But they understand that that’s what’s needed for growth, and they role-model the behavior they want others to adopt.

When the managing director of a transport company lowered prices to increase its number of passengers by 20 percent in a declining market, this director accepted the need for bold moves: “Growth is worth the risk.” Whenever a new-customer offer was planned, the pricing team would work out how much value was at risk and put it in a document. The director would then sign it, making a public declaration to take on this risk personally.

Act on “good enough” insights. Good data are crucial for good decisions, but growth leaders value speed over perfect insights. They don’t wait for perfect data. Instead, they use the data they have to make a thoughtful decision, pursue it vigorously, and then reevaluate based on results. As one growth leader from a tech company explained, “Always look for opportunities around you, and be willing to jump.”

Growth leaders are 70% more likely to prioritize speed over perfection (in North America)

Face the facts. When the facts are clear that a business or product is underperforming, growth leaders are decisive in killing them off. Continually allocating resources to proven growth options or new initiatives that promise a better return on investment is a crucial leadership discipline, even if it means saying goodbye to beloved brands or products. The leader at one fast-moving consumer-goods (FMCG) company instituted a process that labeled any service or product that wasn’t yielding growth a “zombie.” Leadership sent business units a quarterly hit list that helped the company eliminate 700 zombies within a year.

5. I fight for growth.

Avoid short-termism. Leaders face huge pressures to deliver results in the short term. While growth leaders understand that reality, they don’t sacrifice long-term growth. To help guard against those pressures, they make deliberate resource-allocation decisions that position the business for future growth. As the CMO of a telecom company put it, “I assign 50 percent of resources to the first year, 30 percent to the second year, and 20 percent to year three. That means you don’t keep falling off a cliff at the end of every year, and you build sustainable growth.”

Growth leaders are also vigilant in keeping the organization from clawing back those resources, as so often happens. Among leaders in North America, 70 percent are more likely than their peers to protect or set aside money in the budget to fund growth initiatives, teams, and capabilities.

Break down internal barriers. Growth is a team sport, but functional leaders often jealously guard their turf, which undermines many promising initiatives. Growth leaders actively seek out the conflicts and eliminate them. They break down silos, diffuse turf battles, and provide support for strained resources to clear the path for their teams to deliver.

The leader at a global beverages company, for example, created a central growth office to merge marketing, customer insights, and commercial groups into one unit with a clear mandate—and shared accountability—for growth. This move helped eliminate the functional silos that were impeding progress.

Growth leaders are 60% more likely to have a clear multiyear mandate to pursue growth initiatives, coupled with the autonomy to do so without having to show short-term results

6. I have a growth story I tell all the time.

Infuse the business with purpose. Growth leaders know that purpose is power and that communication is about more than the what of growth; it’s the why. Articulating a purpose that goes beyond brands, categories, and businesses is an effective way that growth leaders rally the whole organization. Growth leaders in the European Union are, for example, 70 percent more likely to ensure that every employee understands the growth strategy and what it means for them. Says the CMO of a major consumer company: “Everybody needs purpose. Employees thrive on it, society expects it, and it delivers growth.”

Growth leaders are 80% more likely to communicate growth successes often (in the European Union)

Communicate, communicate, communicate. While business leaders understand the need to communicate, they tend to underestimate its importance. Not so, growth leaders. They communicate clearly, creatively, and consistently. Growth leaders in the European Union, for example, are 80 percent more likely than their peers to communicate growth successes often.

Growth leaders are 70% more likely to ensure that every employee understands the growth strategy and what it means for them (in the European Union)

They also go beyond the usual channels (progress updates, newsletters, town halls, and the like) and develop a comprehensive communications plan targeting all stakeholders. They often, for example, tell their story to the outside world in order to motivate employees, shape investor perceptions, and convey their aspirations to customers. The managing director of one consumer-facing company told us, “Use the media to communicate wins, results, and innovation. Make it real for all your stakeholders as often as possible.”

7. I give control to others.

Build up people’s growth muscles. Growth leaders invest more time in formal and informal training for growth, covering not just functional and leadership capabilities but also mind-sets. At one global beverages company, training for marketing and sales associates includes elements on exponential thinking (working toward tenfold improvements rather than 10 percent) and using network effects to boost growth (engaging stakeholders and ecosystems to boost a product launch or a marketing campaign).

Give power to the front line. Encouraging people to make decisions and take risks without providing them with a structure for doing so is only half the battle. Growth leaders are explicit in giving people decision rights. The owner of a European digital company ensures that key decisions are made not by senior management but by the business-unit leaders who know the customers and products best. But those leaders have to work together across functions. As the chief growth officer of a leading consumer-packaged-goods company put it: “Product, engineering, and sales take decisions jointly, so you don’t have fingers pointing at each other.”

Go outside to get what’s needed. Growth leaders aren’t afraid to close gaps in their own business models or capabilities through partnerships or joint ventures with other businesses. A travel company wanted to expand its low-cost bus business but realized it was too small to compete at scale with larger companies. To acquire sufficient scale at speed, it partnered with a ride-sharing platform to offer a door-to-door long-distance service that combined rail, bus, and car transport in one convenient package.

Growth leaders are 40% more likely to have explicit incentives to reward risk taking in their teams (in the European Union)

Growth is a journey that requires the entire business to constantly adjust, optimize, and execute, but it starts at the top. Only when the CEO, C-suite, and business-unit leaders have the right mind-set can leaders hope to drive growth across the business.

Biljana Cvetanovski is an associate partner in McKinsey’s London office; Eric Hazan is a senior partner in the Paris office; Jesko Perrey is a senior partner in the Düsseldorf office; and Dennis Spillecke is a senior partner in the Cologne office.

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Essay About Business: Top 5 Examples and 7 Prompts

We see business in action in every aspect of our life. So if you need to write an essay about business, look into this article to find examples and prompts to help you get going.

The word “business” encompasses a broad range of activities and branches. However, in its most straightforward meaning, business refers to an institution or a group that works together and engages with others to achieve a goal that will benefit them. 

To give you an idea of how prevalent business is, think of all the times you buy from a store. Any time you get something from an enterprise, big or small, you’re already in business with them. However, businesses such as charities, churches, and volunteer services organizations also envelop transactions not for profit.

To aid you in writing an excellent essay about business, here are examples you should read, followed by prompts to give you ideas on what to write about.

1. Don’t Sell Yourself Short by Manya Whitaker

2. my personal experience in business by shannon murphy, 3. business ethics and work ethic essay by writer annie, 4. the importance of business study by shyam soni, 5. essay on environment, sustainability and business by  aastha singhal, 1. my business aspirations, 2. businesses i want to support, 3. business in the future, 4. business and ethics, 5. what makes a business more appealing, 6. how businesses affect my community, 7. my bad experience with a business.

“Like a good researcher, I did some investigation into what it meant to run a small business… While the initial work seemed intense, the service itself was no more work than I’d been doing for free. And as my father always says ‘don’t sell yourself short’…so I decided not to.”

Whitaker recounts her life experiences and how she came to think of starting an educational consulting business. Next, she goes through the hoops of when to best start her business, what fees are acceptable, and how to let people know her business exists. She then shares her many tips with professors who want to start their businesses and ends her essay by encouraging them to utilize their talents. 

“Businesses today require not just setting a plan but also about the investment and proper management of people, assets, live time opportunity, and risk to make the business expand and develop. I see myself contributing to the development of good business practices in years to come where I will be leading a great business organization effectively.”

Murphy discusses why she wanted to study business enterprise, saying that “business makes life interesting and worth living.” She also talks about her encounter with a businessman and how he motivated her through his stories. Finally, Murphy shows her determination to go through with her career plans in the business industry through her essay.

“Work ethics comprise more than the desire of the job or career but also how one claims his/her path of achievement… I believe work ethics demonstrate many aspects of a person and how a person is within. So, I ask a question to myself today, what are my work ethics and what do I define them?”

In this short essay, the author decides on what work ethic means to her. She includes traits that make her believe it’s a virtue and even offers an example. She also believes that work ethic is intrinsic and ends her essay by sharing the two fundamental traits of her work ethic: humility and treatment.

“Business has become indispensable in our lives. Nearly everything an individual does is directly or indirectly related to business.”

In his essay, Soni expounds on how business affects every aspect of our lives. For example, businesses encourage people to give their best to the world, benefitting everyone. He also lists some of these benefits, such as business helping in choosing a career, understanding business strategies, and recognizing our contribution to a nation’s success.

“Admittedly, the process of changing corporate mindsets and culture to embrace sustainability can be a challenge for some enterprises… maintaining an environment that enables continued prosperity is imperative for any organization’s survival and growth.”

In her essay, Singhal distinctly shows the connection between our surroundings and survival with businesses. She presents how businesses should lead the demand for environmental sustainability because they can make a relevant change. However, at the same time, businesses can also damage the environment and be detrimental to sustainability. 

She further explains what businesses today are doing to answer their green consumer’s call, such as green regulations and more efficient usage of resources. Finally, she ends her essay with a quote identifying the challenge of the twenty-first century: for people to have a decent standard of living while preserving other aspects of life.

Do you want to upgrade your essay paper? Then, check out this list of the best essay writing apps to help refine your work.

7 Prompts on Essay About Business

After learning more about the subject, write your essay with these easy but enjoyable prompts:

In this essay, you can explain why you want to have a business, including your inspirations and motivations. For example, maybe your family already has a business, and you want to continue it. Or perhaps you want to create a business that will help others. Include personal anecdotes and descriptive paragraphs to convey your thoughts and feelings.

This essay prompt lets you list the businesses you want to get more exposure to. Aside from identifying which business you want to see grow, present why you want them to have more recognition in the first place. 

You can write about a small local bakery from which you always get your bread and share the owner’s story. Or you can shift the attention to a charitable organization that needs more donations to continue its mission. Share why this specific organization is dear to you. You’ll not only end up with a great essay but also help these businesses.

This prompt is perfect for you if you want to talk about curiosity-inducing business-related ideas. You can present propositions on how businesses will be conducted years from now. Do you imagine advanced and intelligent AIs capable of holding a conversation to sell a product successfully? What about flying cars? Don’t be shy, and include all of your concepts. 

There has always been a gray area between business and ethics. As a party to this affair, you can share how important ethics is to the business and its clients. You can talk from the client’s point of view – do you still buy a product of a business with questionable ethics? Or do you only support businesses that hold their ethics in high regard? Then, explain why.

There are many marketing tactics businesses use to attract customers. But what if those do you think are most effective? You can write your essay and include the advertisement types that work for you and why. 

You don’t need to go far to find something to write about with this prompt. Identify the things that businesses in your area directly affect, positive or negative. For instance, having businesses in your community makes accessing comedies easier. On the other hand, having many businesses could make a living in your area more expensive.

To make your essay more compelling, you can recount a bad experience with an establishment. Then, narrate it like a story to engross your readers by describing how management handled things and what you felt during that time. Did it discourage you from going back to that business?

You can also add how you think the people in charge should have acted by suggesting a specific course of action. Again, this will give potential business owners a glimpse of how they can run their businesses better.

Note: Improving your paper’s readability score is also a key criterion when editing for grammar.

Maria Caballero is a freelance writer who has been writing since high school. She believes that to be a writer doesn't only refer to excellent syntax and semantics but also knowing how to weave words together to communicate to any reader effectively.

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The challenges of growing a business - and how to meet them

Growing businesses face a range of challenges. As a business grows, different problems and opportunities demand different solutions - what worked a year ago might now be not the best approach. All too often, avoidable mistakes turn what could have been a great business into an also-ran.

Recognising and overcoming the common pitfalls associated with growth is essential if your business is to continue to grow and thrive. Crucially, you need to ensure that the steps you take today don't themselves create additional problems for the future. Effective leadership will help you make the most of the opportunities, creating sustainable growth for the future.

This guide highlights the particular risks and mistakes that most commonly affect growing businesses and outlines what you can do about them.

Keeping up with the market

Planning ahead, cash flow and financial management, problem solving, the right systems, skills and attitudes, welcoming change.

Market research isn't something you do as a one-off when you launch your business. Business conditions change continually, so your market research should be continuous as well. Otherwise you run the risk of making business decisions based on out-of-date information, which can lead to business failure.

The more you succeed, the more competitors notice - and react to - what you are doing. A market-leading offer one day may be no better than average a few months later.

Apparently loyal customers can be quick to find alternative suppliers who provide a better deal.

As products (and services) age, sales growth and profit margins get squeezed. Understanding where your products are in their lifecycles can help you work out how to maximise overall profitability. At the same time, you need to invest in innovation to build a stream of new, profitable products to market.

Information sources

Published information can provide useful insights into market conditions and trends. As a growing business, your own experience can be even more valuable.

You should be able to build up an in-depth picture of what customers want, how they behave and which of your marketing approaches work best.

Taking the time to talk to key customers pays off. Your suppliers and other business partners can be important sources of market information. You should encourage your employees to share what they know about customers and the market. Effective IT systems can also make it easier to share and analyse key information such as customers' purchasing behaviour and preferences.

You may want to carry out extra research as well - for example, to test customer reaction to a new product. You might do this yourself, or use a freelance researcher or market research agency.

The plan that made sense for you a year ago isn't necessarily right for you now. Market conditions continually change, so you need to revisit and update your business plan regularly. See the page in this guide on keeping up with the market.

As your business grows, your strategy needs to evolve to suit your changed circumstances. For example, your focus is likely to change from winning new customers to building profitable relationships and maximising growth with existing customers. Existing business relationships often have greater potential for profit and can also provide reliable cash flow. Newer relationships may increase turnover, but the profit margins may be lower, which may not be sustainable. See the page in this guide on cash flow and financial management.

At the same time, every business needs to be alert to new opportunities. There are obvious risks to relying solely on existing customers. Diversifying your customer base spreads those risks.

Following the same business model, but bigger, is not the only route to growth. There are other strategic options such as outsourcing or franchising that might provide better growth opportunities.

It's important not to assume that your current success means that you will automatically be able to take advantage of these opportunities. Every major move needs planning in the same way as a new business launch.

Watch out for being too opportunistic - ask yourself whether new ideas suit your strengths and your overall vision of where the business is going. Bear in mind that every new development brings with it changing risks. It's worth regularly reviewing the risks you face and developing contingency plans.

Good cash flow control is important for any business. For a growing business, it's crucial - cash constraints can be the biggest factor limiting growth and overtrading can be fatal

.Making the best use of your finances should be a key element in business planning and assessing new opportunities. With limited resources, you may need to pass up promising opportunities if pursuing them would mean starving your core business of essential funding.

Every element of working capital should be carefully controlled to maximise your free cash flow. Effective credit management and tight control of overdue debts are essential. You may also want to consider raising financing against trade debts.

Good stock control and effective supplier management tend to become increasingly important as businesses grow. Holdings of obsolete stock may become a problem that needs periodic clearing up. You may want to work with suppliers to reduce delivery cycles, or switch to suppliers and systems that can handle just-in-time delivery.

Planning ahead helps you anticipate your financing needs and arrange suitable funding. For many growing businesses, a key decision is whether to bring in outside investors to provide the equity needed to underpin further expansion.

New businesses often run in perpetual crisis mode. Every day brings new challenges that urgently need resolving and management spends most of their time troubleshooting.

As your business grows, this approach simply doesn't work. While a short-term crisis is always urgent, it may not matter nearly as much as other things you could be doing. Spending your time soothing an irritated customer might help protect that one relationship - but focusing instead on recruiting the right salesperson could lay the foundations of substantial new sales for years to come

.As your business grows, you also need to be alert to new problems and priorities.

For example, your business might be increasingly at risk unless you take steps to ensure your intellectual property is properly protected.

If you are focusing on individual marketing campaigns, you might need to devote more resources to developing your brand.

Identifying the key drivers of growth is a good way of understanding what to prioritise.

A disciplined approach to management focuses on leading employees, developing your management team and building your business strategy. Instead of treating each problem as a one-off, you develop systems and structures that make it easier to handle in the future.

All businesses produce and rely on large volumes of information - financial records, interactions with customers and other business contacts, employee details, regulatory requirements and so on. It's too much to keep track of - let alone use effectively - without the right systems.

Responsibilities and tasks can be delegated as your business grows, but without solid management information systems you cannot manage effectively. The larger your business grows, the harder it is to ensure that information is shared and different functions work together effectively. Putting the right infrastructure in place is an essential part of helping your business to grow.

Documentation, policies and procedures also become increasingly important. The informality that might work with one or two employees and a handful of customers simply isn't practical in a growing business. You need proper contracts, clear terms and conditions, effective employment procedures and so on.

Many growing businesses find using established management standards one of the most effective ways of introducing best practice. Quality control systems can be an important part of driving improvements and convincing larger customers that you can be relied on.

Investing in the right systems is an investment that will pay off both short and long term. You benefit every day from more effective operations. If you ever decide to sell the business, demonstrating that you have well-run, efficient systems will be an important part of proving its value.

Entrepreneurs are the driving force behind creating and growing new businesses. All too often, they are also the people holding them back.

The abilities that can help you launch a business are not the same as those you need to help it grow. It's vital not to fool yourself into valuing your own abilities too highly. The chances are that you'll need training to learn the skills and attitudes required by someone who is leading growth.

To grow your business, you need to learn to delegate properly, trusting your management team and giving up day-to-day control of every detail. It's all too easy to stifle creativity and motivation with excessive interference. As the business becomes more complex, you also need to develop your time management skills and learn to focus on what's really important.

As your business grows, you may need to bring in outsiders to help. You'll want to delegate responsibility for particular areas to different specialists, or appoint a non-executive director or two to strengthen your board. As you start tackling a new opportunity, someone who has experience of that activity can be vital.

For many successful entrepreneurs, learning to listen to - and take - advice is one of the hardest challenges they face. But it may also be essential if you are going to make the most of your opportunities. Some entrepreneurs, recognising their own limitations, even appoint someone else to act as managing director or chairman.

Complacency can be a major threat to a growing business. Assuming that you will continue to be successful simply because you have been in the past is very unwise.

Regularly revisiting and updating your business plan can help remind you of the changing market conditions and the need to respond to them. See the page in this guide on planning ahead.

An up-to-date plan helps you identify what action you need to take to change your business and the way it operates, for example:

• Changing to suppliers who can grow with you and meet your new priorities. As your business grows, consistent quality and reliability may be more important than simply getting the cheapest offer.
• Renegotiating contracts to take account of increased volume.
• Training and developing employees. Your own role will also evolve as the business grows. See the page in this guide on skills and attitudes.
• Making sure that you keep up to date with new technologies.

You need to be fully committed to your strategy, even if it takes you out of your comfort zone. This may involve hard decisions - for example making employees redundant or switching business away from suppliers you have become friends with. But unless you're prepared to do this, you risk putting your business at a dangerous competitive disadvantage.

Original document, The challenges of growing a business - and how to meet them , © Crown copyright 2009 Source: Business Link UK (now GOV.UK/Business ) Adapted for Québec by Info entrepreneurs

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Sample Business School Essays

Studying business is a great way to gain valuable working experience across many industries. As such, many students decide to further their education with a degree in business. To help set your business school application apart from the others, having a stellar application essay can help tremendously. Before writing your own essay make sure you explore our sample essays to gather a few ideas and thoughts on how you can make your essay unique and engaging.

This section contains five business essay samples:

Business School Essay Sample One

Business school essay sample two, business school essay sample three, business school essay sample four.

• Business School Essay Sample Five

Watching my brother transform from a man who had lost his ability to walk to a man who can play basketball with my father kindled my fascination of the physical therapy world. The Bureau of Labor Statistics anticipates the field of physical therapy to grow faster than average in the upcoming years. I hope to join this field during an exciting time of growth, furthering the rehabilitation of those who have been injured.

Following graduation from ABC Business School, I intend to serve a marketing team in a local physical therapy company, such as Ridgeview Physical Therapy. My short-term goal is to lead a team, furthering success in the Ridgeview area. Due to the popular physical therapy company thirty miles from Ridgeview, much of the local population is unaware of the quality services Ridgeview Physical Therapy has to offer. I hope to increase visits by 40 percent in the first 5 years of my employment. My long-term goal includes extending the company’s reach into surrounding cities, and eventually beyond national barriers, becoming a global marketing manager.

I expect to gain skills and experiences from ABC Business School that will propel my short and long-term goals. I hope to develop an experiential and diverse learning experience and have the opportunity to interact with different groups of people to learn from their business insights and endeavours. From ABC Business School, I seek the tools and resources needed to further engage in my marketing knowledge, perform professional strategic analyses, and re-evaluate my past work experiences. I look forward to taking courses from Professor Jim. W. Reid, who has published the research of the success of Matthews and Marketing in his book, “Matthews Commerce,” which has helped me continue my career this far. I also look forward to taking the unique classes taught by Professor Rachel E. Davis, introducing me to the physical therapy world and enriching my business skills in that area.

When my brother’s car accident in 2011 caused immobility in his left leg, he never thought he would be able to play his favorite sport again. David Andrews, a 1994 graduate from ABC Business School, ensured that that would not come to pass. I spoke with Andrews about his journey, and he told me that it was through the opportunities and education he received from the professors and students at ABC Business School that helped him open his own practice. I hope to follow in Andrews’s footsteps. With the passion I have for the success of Ridgeview Physical Therapy, and the determination I learned from watching my brother, all I need to complete my goals is the knowledge available to me through an MBA at ABC Business School. I look forward to completing my career aspirations using the tools received from ABC Business School to contribute to my professional career.

The world of physical therapy is growing, and with my skills in marketing, I hope to grow the local Ridgeview services across the globe.

In this essay, the applicant is assigned to answer the prompt in approximately 500 words. The admissions officer expects a clear and concise essay that does not veer off the question and exemplifies quality writing, grammar, and punctuation. In questions similar to these, the admissions officers are looking for: Student’s understanding and knowledge in answering questions: The writer explains his short and long-term career goals, referencing the future of the career (Bureau of Labor Statistics) and quantifying his goals (Increase by 40 percent within the first 5 years). A deeper look into who the applicant is: Writer shares personal information that also relates to answering the question (brother in physical therapy). Make sure that any personal information you share does not veer off of the question that needs to be answered. Proper research on the school to adequately answer the second question: Student mentions names of professors who have demonstrated help in the past (professor’s business research book) giving credibility to the student that he believes they will be able to help him in the future. Avoid flattery and only speak of the school in a way that shows proper research and answers the question presented.

Nancy, the CEO of Jasmine Publishing House, bought me a coffee and told me I should invest in warm gloves as we sat down at a corner diner for what would be a game-changing business meeting. As the leading publishing house in Europe, Nancy informed me that JPH was interested in closing a multi-million dollar deal with our fashion magazine, Zoelle, provided we changed the magazine's appearance to attract a broader European audience.

As production manager, my job was to lead and supervise a staff of 30 to match Nancy's vision, working closely with the design team, photographers, production staff and marketing team. After three weeks of heavy brainstorming, we developed a fresh appearance for the magazine.

I invited Nancy to a meeting with me and three of our executive producers. I shared with her the strategy we had created in order to solve our appearance problem, as well as estimated costs and complications. Nancy agreed that the direction our magazine was going fit well with her vision and audience, and that JPH would be happy to work with us within the next week.

Although the team was excited to accept the offer, I was concerned that we were not prepared to complete the project so quickly. Though the executive producers did not understand, as our production team was to begin work on the next issue the following day, I explained that there may include deep financial consequences if we rush into the process. I wanted to ensure that JPH received a consistent layout from Zoelle magazine. Nancy agreed to wait until the upcoming issue was complete before beginning work on the new look.

We began work the following Tuesday, after the latest issue was produced. I collaborated with an eight member marketing team to develop new branding for our magazine and mediated this branding with the design team, ensuring that it was able to blend well with their ideas and insights based on the first meeting with Nancy. I led the operation of the first issue to be published via JPH, supervising 30 employees.

After the issue was published, our sales increased by 42 percent in the first week. After leading the Zoelle team to a business deal close and a fresh start, I learned that with the proper leadership, a staff of varied talents, insights and opinions can work closely together to produce a magazine that continues to increase its sells each issue. My initiative helped provide Zoelle with its largest new contract that year, a $2 million deal. Customers from Europe and the United States commented with positive remarks on the new look, showing interest in the replacement of the former look, which had been being published for seven years.

After this leadership experience, I was able to see my potential as a leader. I can communicate effectively with all members of a group and help connect them with one another to make a larger picture. I protect my business discernment even against an upset crowd, and am able to properly persuade others to understand other perspectives. Through learning more about leadership every day with my work in Zoelle, I hope to continue to strengthen these abilities and witness the success they can bring to media production.

In this essay, the applicant was asked to detail her leadership abilities through the application of a relevant example. She was asked to do this in approximately 550 words, using concise language and proper grammar and punctuation. In questions similar to these, the admissions officers are looking for: Applicant's ability to share leadership qualities with a relevant example: This writer shared leadership qualities of communication (brainstorming with different staffs and helping them connect their ideas together), listening (brainstorming and understanding staff concerns), delegating (ensuring each team did what was supposed to be done), and managing (managed and supervised a staff of 30) through the use of an example from her work with Zoelle Magazine. Proof of a potential growth in these leadership skills: The writer hopes to “continue to strengthen” her leadership skills. She provides examples of how she learned from previous leadership roles. How these skills will help further your career: The writer used an example from her current career and concluded her essay with a look into the potential of leadership in her field.

I looked across my celebratory cheesecake and beamed up at my new coworkers. I couldn't believe I had finally landed my dream job. All of the senior editors were having lunch in the cafe across the street from the bakery where the finance team and marketing team shared dessert. I had been hired as a budget analyst at my favorite magazine. My job was to work alongside the business manager to help create a more healthy marriage between the finance and marketing departments, thus improving our sales and workplace environment. On my way home, I reflected on my relief in finally having an exciting and secure career.

Just three months later, we met at the same bakery where I had celebrated my new job. Every department from our small, close-knit staff was present. As the publication manager began to tell us the news, I remember how our faces fell. Our publication company was going out of business, and every publication was to be shut down. She explained that they had tried to find another publishing company without success.

Not only did I feel as though I failed the company, I also knew that I, as well as the other 17 employees, was out of a job. We went back to our offices and packed up our things. Writers and designers were frantically calling around, asking for open positions. An employee from the finance department began tweaking his resume, and the marketing department apologized to the publication manager and editor-in-chief, who responded graciously.

I had to leave my apartment not long after losing my job. I stayed with a friend on the north side of town as I tried to find a job in a shrinking economic suburb. It took six months to find a position, and though I had to move and leave behind my dream, I found a new way to work toward my new dream.

From this experience, I learned the importance of adaptability. Only through my ability to embrace the change happening around me was I able to find a new job and start a new life with new visions and goals. Applying for my MBA would have sounded bizarre to the disheartened, homeless idealist who lost her dream. But now, after finding in me the strength to persevere, I am able to take what I learned from my previous job and pair it with what I learn from the university. This knowledge will help me ensure that the future companies I work with will not have to endure a similar fallout.

However, if there comes a time when I am again involved in a lost company, I know how to repair. I know how to restore.

In this essay, the applicant was asked to recall a challenging situation to which the writer overcame the boundaries. The writer was asked to do this in approximately 450 words, using concise language and proper grammar and punctuation. In questions similar to these, the admissions officers are looking for: Applicant's ability to identify a challenging moment in her life: This writer uses a relevant example of a challenging situation, describing the challenge of losing a job, losing housing, and having to move to a different city. Examples of how the applicant overcame these challenges: The writer cites her “adaptability” as the reason why she was able to overcome this challenge. Instead of giving up, the applicant tells of applying for other jobs, even ones that were out of her comfort zone and in another city. Brief insights to what the applicant learned from the challenge: This writer learned how to maintain strength, perseverance and adaptability in challenging situations. The applicant tells of continuing the learning process in her MBA program and allowing it to help future companies.

“Gallery Furniture saves you money today!” As a child, these words rang out to me, sandwiched in between the episodes of Pokemon and Yu-Gi-Oh that I gleefully watched every Saturday morning. During commercial breaks, an older gentleman known as Mattress Mack would dominate all 24 inches of my cartoon box with his signature hundred-mile-per-hour pitch, reserved for sputtering off the praises of American-made furniture sold at affordable prices. Mattress Mack reigned as a household favorite in the Greater Houston area; in fact, my cousin and I made games out of memorizing his lines and spitting them out as fast as we could whenever his ads came on TV.

Mack’s distinctive elevator-pitch talking style stemmed from the financial difficulties he faced at the start of his career. At that time, Mack invested his entire life savings in a single ad that aired on two stations. While watching the ad himself, he grew unhappy with the producers’ work and ad-libbed a rapid pitch which would be later recognized as one of his greatest sparks of unconventional genius. Mack's unique re-branding has taught me to recognize the value of bootstrapping and developing creative solutions to solve problems.

Beyond his unorthodox sales strategies, Mack also had a heart that was truly the size of Texas. In August of 2017, Hurricane Harvey made landfall and caused $125 billion in damages, and several people that I personally know lost everything. While most of us worried solely about our own survival, Mack opened his two biggest showrooms and provided food to those who needed it most. His heroic actions eventually earned him his own day, August 26th, appropriately named Mattress Mack Day. He has inspired Houstonians just like me to pursue entrepreneurship opportunities that put social focus on the forefront.

As Harvey pummelled through the Gulf Coast, I noted the amount of devastation the hurricane has caused for our local automotive industry. This sparked an idea. As a passionate watchmaker and a car enthusiast, I partnered with my co-founder to create one-of-a-kind wristwatches from wrecked supercars with stories to match. A portion of each sale would then be donated to Habitat for Humanity to rebuild communities affected by natural disasters. My dream came to fruition, and over the last two years, the work I did has gained the attention of Mayor Turner, Capital One Bank, and various other notable individuals and organizations across Texas, Florida, Switzerland, and the UK. Born from a company bootstrapped with a $10,000 award from Capital One Bank, we are now projected to take in a revenue of $500k in the coming year.

Mattress Mack’s unconventional business approaches have taught me that tackling problems with limited capital yields the most innovative solutions and that the numbers, albeit essential, are not the end-all-be-all of a company. His ability to see equal importance in their lesser-noticed counterparts -the people his business serves and the community he resides in- are what sets him apart from traditional bosses as a truly effective leader. His actions have taught me that marrying unconventional problem-solving skills to a strong moral code is the key to greater personal success.

Business Sample Essay Five

Fuqua was the first business school I visited at the beginning of my application journey. No one in my family has ever attended college, let alone business school, so my visit opened a new world of opportunity for me. I sat in the auditorium with 300 other Management Leadership for Tomorrow (MLT) fellows soaking up facts about Fuqua’s collaborative culture, global perspective, and distinguished faculty. My most vivid memory of the experience was at the end of the first day when the Black and Latino MBA Organization (BLMBAO) came on stage and helped me understand what it truly means to be on “Team Fuqua.” Dancing, cheering, and wearing their Blue Devil gear, the students made it easy to see a cohesive community for students of color – one that I have not felt so palpably at any other business school since. As I sat in that auditorium, I began to imagine myself as a part of “Team Fuqua,” and after the visit I became more confident that there was a place for me at Duke. For these reasons, I am seeking a spot in the entering class of 2022.

Post MBA, I plan to work as a Product Manager in an innovative digital healthcare company focused on using technology to transform patient care. Specifically, I would like to work in wireless tech and data analytics focused on chronic disease management similar to Twine Health, a platform integrated into patients' Fitbits to monitor diabetes-related vitals. In preparation for a career in healthcare, I plan on being a part of Fuqua’s Health Care Club (HCC). I look forward to contributing to this community through my perspective in healthcare consulting as well as my experience in the health insurance marketplace. By participating in the HCC, I will leverage the insight from 2nd year students as I navigate the healthcare recruiting process during HCC life line sessions. In time, I hope to return the favor by helping new students navigate recruitment, coursework, and life in Durham. Particularly, I am excited to gain valuable insight into the healthcare industry through programming coordinated by HCC such as the Duke MBA Health Care Conference and panel discussions throughout the year. HCC will not only provide me the knowledge and professional aptitude for a meaningful career in the healthcare sector, but will also grant me a life-long network of Fuqua healthcare leaders. To further promote health, I want to take part in the Fuqua Running & Triathlon Club. As a cross country athlete in high school and college, I look forward to exploring the Raleigh-Durham area and sharing my love of running.

Beyond my involvement in the Fuqua healthcare community, I also plan to join BLMBAO. It is very important for me to be part of a collective of leaders of color that empower each other to reach their full potential in business. For this reason, I am interested in joining the leadership cabinet of BLMBAO and shaping events such as the MBA Minority Business Conference. I want to continue BLMBAO’s work of increasing the visibility of underrepresented minorities, engaging Fuqua on issues of race and inequality, and being an advocate for women of color in business. For example, as a Fellow and alumna of MLT, I will commit myself to building a pipeline for Latina prospective Fuqua MBA students. This will include holding workshops that focus on the application process and challenges specific to Latinas in management.

In the end, Duke is the ideal place for me to become the business leader I know I can be. The opportunities in healthcare at Fuqua with HCC in conjunction with the school’s close proximity to the research triangle are second to none. A Fuqua MBA will give me the opportunity to learn, grow, and lead among lifelong friends. As a part of the incoming class, I will continue to learn more about Fuqua and expect that the “Team Fuqua” spirit will stand out in all of my interactions within the larger community. Just as BLMBAO students inspired me on my first day at Fuqua, I hope to one day inspire a young Latina professional setting her sights on business school.

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Concept of an Entrepreneur in Business Essay

Introduction, reference list.

This essay talks about an entrepreneur. It seeks to define who an entrepreneur is, how one becomes an entrepreneur; whether he is born an entrepreneur already or whether he acquires the skills of entrepreneurship in life. It will therefore, examine various aspects that are likely to influence one into entrepreneurship.

It will analyze character traits inherent in an entrepreneur. These include an individual’s level of innovation and creativity, his ability to recognize and take up opportunities and the amount of risk one is willing to get into when starting a business.

It will focus on the effect of family and upbringing upon one in becoming an entrepreneur, the effect of culture and various policies by different governments and their impact upon an individual. At the end of the discussion, it will be established that an entrepreneur is both born and nurtured. One’s environment plays a critical role in shaping one’s ideas and character into becoming an entrepreneur.

An Entrepreneur

This is a person who ventures into a business despite the risks inherent. He plans, starts, and runs the business growing it to maturity. Unlike a business man who runs a business and becomes part of a larger business community, an entrepreneur takes the risk to star up a new venture, which he expands and grows to a full business empire which he is master.

What Makes an Entrepreneur

Two propositions have been put forward to explain an entrepreneur. One is that he is born and not made and the other is that he is nurtured and not born. Those who argue than an entrepreneur is born posit that some people are born with certain innate characteristics necessary for entrepreneurship.

These individuals are more likely to take risks, identify and take up business opportunities and are more welcoming and ready to explore new experiences that seem promising to their businesses.

Some, like Shane (2010), argue that entrepreneurs are made. They further state that anyone has the capability of making an entrepreneur. All one needs is a passion, determination and good mentorship to become a good entrepreneur. The difference is that these people need to work harder than those born with characteristics of entrepreneurship.

To some extent, learning and adapting these skills by nurture is of benefits as an individual learns them from professionals who will guide him on how much of the skills are beneficial, and to what extent do the skills become harmful. This is unlike one who is born with the skills and does not know how to regulate them to attain balance between enough and too much.

For instance, an individual born with the traits of risk taking might overindulge to take risks even when failure is inevitable. One who learns the art of risk taking will be cautioned that some risks are not worth taking. It has been established that many entrepreneurs fail to succeed because they are too confident and reliant on their innate skills than those that they learn (Mount, 2009).

A survey from a business training program at the University of Southern California found out that people who got such skills through formal training and coaching were more likely to succeed than those who did not get such training at all.

Students learnt to sell items they were not even familiar with or which their cultures and religion prohibited them from associating with. Another study in Peru of women banking entrepreneurs showed that women who attended business training lessons increased their sales by 16% than those who did not.

Entrepreneurship requires persistence, optimism and hope that things will be well, coupled with hard work to attain one’s goals. These traits can be learnt and acquired by anyone who wishes to acquire them.

Scientific Proof

Scientific studies have been done on this topic to determine whether entrepreneurs are born or made. Scott Shane, a professor of entrepreneurial studies at Case Western Reserve University, co-directed a study that observed entrepreneurial activities of identical twins who share 100% of their genes.

The study concluded that 40% of entrepreneurial skills were inherited, while the other 60% was acquired through interaction with the environment.

Exposure to an entrepreneurship environment has tremendous effects on influencing persons, who would otherwise not venture into entrepreneurship. This is according to a study at Munich’s Ludwig Maximilians University which found out that such exposure had influence on 18% of students who had never dreamt of becoming entrepreneurs (Klein, 2010).

The two aspects of nature and nurture exist in interplay at making entrepreneurs. In spite of the lessons and exposure, one has to have the right attitude and confidence needed by an entrepreneur to make one.

On the other hand, one might possess the right attitude and traits necessary for entrepreneurship, but not have the right knowledge on how to handle contemporary challenges in the business world. The skills might end up being wasted.

Traits of an Entrepreneur

As an entrepreneur, one must be able to think of ways, and in some cases alternative ways, to get things done. One needs creativity and an innovative mind that thinks fast how possible to carry out plan or achieve some goal.

• Opportunity Recognition

An entrepreneur must able to recognize opportunities and take advantage of them to improve his business. A number of entrepreneurs have confessed to having strong intuition. They are able to predict trends and ‘feel’ that some venture is worthy or risky taking. They should be keen in analyzing market trends and whenever they spot an opportunity, they should take it up immediately.

• Risk Taking

An entrepreneur is a risk taker from the onset of his start-up of a business. He goes out to venture into the unknown with possibility of success or failure.

Even when a business suffers setbacks, as it sometimes will, an entrepreneur should push on, and not pack up and leave. He is required to take up opportunities whenever he spots them. This is a risk as he is not certain whether they will pay of well, but he takes them up any way (Deakins & Freel, 2006).

An entrepreneur should be ready to live without a paycheck. This means that the venture has some ambiguities about the amount he will be taking home. It can be none or a lot. This is a risk he must embrace and be ready to work through. It is for this reason that many people prefer to take up jobs instead of entrepreneurship to guarantee their pay on a regular basis.

The Effect of Family, Upbringing and Environment on an Entrepreneur

Many entrepreneurs are made as a result of encouragement from their parents and family members. Up to 70% of them went through some ‘event’ during their childhood that shaped their desire to become entrepreneurs. This event could be bereavement of a significant family member that exposed the child to some sort of financial struggle (Gubrium & Holstein, 1993).

While the above case is true to a number of entrepreneurs, some do not have to go through any hardships. These are born into families where significant members of the family are entrepreneurs and influence them into the area.

They could start running established family businesses and then later develop entrepreneurship ideas that will expand the business or venture on their own. In such cases, these persons receive full support of the family by encouragement and financial support to attend college and receive necessary sills.

In some cases, the family may be passive to entrepreneurship activities but the individual has passion for certain business ideas. He may not receive support from his family, but the family may not also oppose his ideas. In such a case, the individual has to go out on his own to a large extent to start up the business.

Sometimes family may inhibit one from becoming an entrepreneur if they have witnessed bad experiences from such a venture. A real entrepreneur understands that entrepreneurship is about risks and will not back down from pursuing his ambition.

According to Aldrich (2003), the way one is also brought up can influence his desire to become an entrepreneur. If skills such as saving, budgeting, and raising money earning money are imparted on him from a tender age rather than being given freely, one can grow up knowing that they have to earn money and that every case is an opportunity to earn.

The opposite is also true. For a child who is not encouraged to earn money through various ways, but relies on parents and guardians for support, they may not know the importance of earning their own money. The child will grow up relying on others and is likely to seek employment more than start up a business.

Lastly, the environment is critical in shaping one’s entrepreneurial skills and ambition. If one grows up in a family or community with a substantial number of entrepreneurs, he interacts with them more than with other people. These interactions are likely to shape his desire of becoming one too.

Poverty is another environmental aspect that can turn one into an entrepreneur despite his real ambition. The child, due to lack of financial ability to see him through to college, may be forced to start up small business to meet his needs.

It is evident that many people in the rural areas become entrepreneurs than those in urban areas. It is not that they are born entrepreneurs than those in the urban areas; it is because they lack sufficient means to seek higher education and get jobs.

The Effect of Government Policies

Many entrepreneurs own small businesses. Therefore, they suffer the greatest impact of governmental policies than large firms.

For instance, small businesses have been found to pay more for health policy for their workers than large businesses do. Such costs become overwhelming to an entrepreneur who, at the start up of a business, struggles to balance between branding the business and building a strong customer base.

Governments enact and control policies that touch on entrepreneurship in a great deal and if these policies are not well regulated, they adversely affect small businesses.

Inflation, for instance, is determined by interest rates set by the Federal Reserve, policies on cost of labor are controlled and regulated by the federal sector, business regulations and procedures such as licensing, certification, and permits are done by governments. These have not been favorable to entrepreneurs as they are designed in ways that benefit large businesses through economies of scale.

Governments have, however, be credited for trying to protect entrepreneurs from unfair competition from large businesses. One such policy used to protect the business is rewarding them a set percentage of government contracts.

Starting and Growing a Business

Starting up a business is a detailed task that requires an entrepreneur to lay down a concrete plan that will see him through the business. The entrepreneur then takes baby steps to grow the business to maturity. Such a process needs persistent and focus because of the many hurdles likely to be incurred.

The process of growing a business requires much similar tactics as those of starting up a business. The entrepreneur will still have to take steps at a time, although this time they may not be baby steps as he has some experiences and will have conquered the initial hurdles.

He is more familiar with the tactics involved and more confident of his actions and the direction of the business. However, he still needs to be persistent and hardworking (Kellermanns & Eddleston, 2006).

It is normal that when starting up a business, an entrepreneur will employ someone or a few people to assist him. As the business grows, it is necessary that he quits being the manager and employ a management team that will be responsible for managing the business fully.

This is recommendable for a business to avoid the owner’s subjectivity while handling issues. This should not lead to a conflict of interest between the entrepreneur and the management team as the team is directly under the entrepreneur even if they control the day to day running of the business.

An entrepreneur is a risk taker, who goes out of his way to put some business idea into practice. Anyone can become an entrepreneur with the right training. With sheer determination, he can become a successful entrepreneur.

One needs to be innovative and have a creative mind that seeks ways of solving issues, be able to recognize and embrace opportunities is they present themselves, and be willing to take risk as long as it is reasonable promising.

Aldrich, H., 2003. The Pervasive Effects of Family on Entrepreneurship: Toward a Family Embeddedness Perspective. Journal of Business Venturing , Vol. 18 (5): 573-596.

Deakins, D., & Freel, M., 2006. Entrepreneurship and Small Firms . McGraw-Hill Education: Berkshire.

Gubrium, J., & Holstein, J., 1993. Family Discourse, Organizational Embeddedness, and Local Enactment. Journal of Family Issues , Vol. 6(3): 321-345.

Kellermanns, F., & Eddleston, K., 2006. Entrepreneurship: Theory and Practice. Journal of business venturing , Vol. 7(4): 23-26.

Klein, K., 2010. Are Entrepreneurs Born or Made? Small Business , Vol.3 (1):23-26.

Mount, I., 2009. Scientists and Academics Battle out the Nature Vs Nurture Debate. Small Business , Vol. 5(2):18-34.

Shane, S., 2010. Born Entrepreneurs, Born Leaders: How Your Genes Affect Your Work Life. Oxford: Oxford University Press.

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IvyPanda. (2023, December 24). Concept of an Entrepreneur in Business. https://ivypanda.com/essays/an-entrepreneur/

"Concept of an Entrepreneur in Business." IvyPanda , 24 Dec. 2023, ivypanda.com/essays/an-entrepreneur/.

IvyPanda . (2023) 'Concept of an Entrepreneur in Business'. 24 December.

IvyPanda . 2023. "Concept of an Entrepreneur in Business." December 24, 2023. https://ivypanda.com/essays/an-entrepreneur/.

1. IvyPanda . "Concept of an Entrepreneur in Business." December 24, 2023. https://ivypanda.com/essays/an-entrepreneur/.

Bibliography

IvyPanda . "Concept of an Entrepreneur in Business." December 24, 2023. https://ivypanda.com/essays/an-entrepreneur/.

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Business Insights

Strategies for success: 8 tips to craft a winning business essay, april 20, 2023.

In this article, we will explore eight key tips that will guide you toward success in creating a winning business essay . From understanding the nuances of the subject matter to presenting your ideas with clarity and conviction, these tips will empower you to craft a remarkable piece of written work. 

8 great tricks for writing a winning business essay

When it comes to writing a winning business essay, using effective strategies can make all the difference. By implementing the following eight tips, you can enhance your essay’s quality and increase the chances your business writing has a maximum impact on your target group of people.

Choose a topic

The first step in writing a great college assignment is choosing the right topic. Often students are given topics to work with, simplifying things as they only need to ensure that their content aligns with the subject and the project’s scope. When handed the freedom to choose, however, you have to make sure that your business topic is relevant, interesting, and narrow enough to be covered in the length indicated. For the best topic, review available evidence through preliminary research, ensuring that there are enough sources to support your writing. 

Brainstorm and outline

Once you have understood what is expected, brainstorm ideas and create an outline. Outlining saves you time and ensures you stick to the topic. It includes your main points and allows you to gather evidence and examples for your essay. Write down what you can think of relating to the topic for a good outline.

You can develop these ideas further in readiness for the writing process through research. Sure, you will need to create a thesis statement to guide you with the outline. A thesis is a statement or two at the end of your opening paragraph, presenting your primary argument and telling readers what to expect from the writing. 

Follow the right format

Use the conventional format to create your essay, opening with a good introduction before going into the body paragraphs. Only have one idea in each paragraph, explaining it in detail using evidence before moving to the next idea. Use transition phrases and sentences to tie your writing together. 

Stick to the right note

Your tone of voice, when you write a business document, matters as it helps you establish and balance your brand. Experts indicate that business writing demands consistency across all written communications. It means creating a unique voice to maintain in all your documents, allowing audiences to identify with your material.

When prospects and potential clients view the material, they should instantly associate it with your product. It is ok if you need to learn how to create an outstanding paper; you can always hire a reliable service like EssayUSA to work on your task. 

Get to the point quickly

There is no place for small talk in business writing. Readers will have limited time to consume your content; you cannot spend it going through unnecessary information. So, to create exceptional writing for business. Ensure that you get to the point as soon as possible. You don’t want to distract your readers before they get to listen to your main message.

Your safest bet is ensuring your content is scannable, allowing readers to find the most crucial information in your essay easily. If possible, include headings and subheadings in your writing, making sure the structure of your document is easily accessible to your readers. 

Be clear and concise

One of the vital things you can do when writing a business document is to ensure clarity and conciseness. Experts recommend using plain language to write business papers. There is no need for lengthy and distracting paragraphs. You need to keep your writing short and clear, articulating your points in as few words as possible.

Expert writers also use specifics to highlight their points, avoiding being vague in their business writing. Always keep the goal of your writing in mind throughout the process.

Avoid clichés and jargon

Read and understand the instructions.

When writing a business essay for an academic project, there will be a set of instructions you are expected to follow. These indicate what the student will achieve within the project’s scope and outline elements like formatting, citations, length, and the number of sources. Before writing your assignment, ensure these guidelines are clear by reading them multiple times. Ask your professor to clarify elements that seem vague or complicated. 

Crafting a winning business essay requires a combination of skill, knowledge, and creativity. By implementing the eight tips discussed in this article, you can create an impactful essay that will impress your professors, colleagues, or clients.

With practice, persistence, and dedication, you can achieve success in the world of business essay writing. So, start writing, and let your words inspire and captivate your readers.

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Business Essay Examples

13 Business Essay Examples for Students

14 min read

Published on: May 1, 2023

Last updated on: Jan 30, 2024

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Are you struggling to figure out the structure, research, or data required to make your essay stand out? Or frustrated by the lack of inspiration and ideas for your essay?

But don't give up yet! We have a powerful solution that will make your essay writing a breeze. Our list of business essay examples is here to help! 

We have compiled expertly written business essay examples that will illustrate how to write a striking business essay.

With our examples, you'll be able to see how to structure your essay and generate creative ideas for your topic. And our tips will help you make the most of these examples.

So, let's dive in and get ready to learn!

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What is a Business Essay?

A business essay is a type of academic writing that focuses on business-related topics and issues. These essays can cover a wide range of topics such as marketing, finance, management, entrepreneurship, and more.

The importance of business essay lies in presenting a well-researched and informed analysis. To do this effectively, writers need to conduct extensive research and analysis on the topic at hand.

Referring to examples of business essays can help you gain insight into the structure, tone, and content of a well-written essay.

Business Essay Examples For Students

Here is a list of business writing examples

Business Essay Examples Pdf

Business Essay Example Grade 10

Business Essay Example Grade 11

A Level Business Essay Examples

University Business Essay Examples

International Business Essay Examples

Short Essay About Business

College Essay About Starting A Business

Types of Business Essay with Examples

When it comes to business essay writing, there are several different types that you might encounter. 

Here's a brief overview of each type, including their characteristics and an example of each.

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Case Studies

A case study is an in-depth analysis of a specific business situation or problem. It involves extensive research and data analysis to provide recommendations.

Case studies often showcase the application of theory to real-world business scenarios.

Research Papers

Research papers involve a more academic approach to business writing. They typically require an extensive literature review, data analysis, and original research. 

Business research papers aim to contribute new knowledge to the field of business. These often involve a hypothesis or research question.

Argumentative Essays

Argumentative business essays aim to persuade the reader to adopt a particular point of view or take a specific action. They present an argument and use evidence and logic to support their claims. 

Argumentative essays can address various business topics such as management practices, ethical issues, or market trends.

White Papers

A white paper is a document that provides a detailed explanation of a particular issue or problem, often with recommendations or solutions. 

White papers are typically used to educate stakeholders about a specific topic. These are often used in the business-to-business (B2B) context.

Comparative Essays 

Comparative business essays compare and contrast two or more topics or ideas. They typically analyze the similarities and differences between the topics to evaluate their pros and cons. 

Comparative essays can focus on various aspects such as products, companies, markets, or strategies.

How to Structure Your Business Essays

As you begin writing your business essay, it's important to structure it in a clear and organized way. 

Here's a step-by-step guide with business essay samples to help you do just that:

Executive Summary

The executive summary is a brief overview of your entire essay. It should summarize your main points and highlight your recommendations. 

This section should be written after completing the essay, as it gives a clear picture of what the essay covers. 

Here is how you start a business essay sample:

Introduction

The introduction sets the stage for the rest of the essay. It should introduce the topic, provide background information, and explain the purpose of the essay. 

Here is a business essay introduction example:

Industry Analysis

In this section, you'll conduct a thorough analysis of the industry in which the business operates. You should examine factors such as competition, market trends, and customer behavior. 

Here is a sample industry analysis

Key Issues or Problems

This section should identify the main issues or problems faced by the business. You should provide evidence to support your claims and analyze the impact of these issues. 

Here is an example paragraph:

Solutions or Recommendation

Here, you'll provide solutions or recommendations to address the issues identified in the previous section. Your solutions should be well-supported and feasible. 

For instance:

Implementation Plan

For this part, you'll outline a plan for implementing the solutions or recommendations you've proposed. This is sort of a description of the business model you suggest. 

This section should be detailed and include specific action steps. 

For example:

Finally, you'll wrap up your essay by summarizing your main points and reiterating your recommendations. 

This section should be clear, concise, and impactful. 

By following this structure, your business essay will be well-organized, coherent, and easy to follow for your readers.

Tips for Using Business Essay Examples Effectively

Now that you have quite a few business essay examples at hand, you should know how to use them effectively:

• Use them as a guide, not a template : While it's great to learn from examples, you should never copy them outright. Instead, use them as a starting point for your own research and writing.
• Analyze the strengths and weaknesses of the essay : Take note of what works well in the example essay, as well as any areas that could be improved. This will help you understand how to make your own essay even better.
• Use them to inform your own research and writing : Pay attention to the research methods, sources, and evidence used in the example essay. This can give you ideas for your own research and help you strengthen your arguments.
• Avoid plagiarism and ensure proper citation: Whenever you use ideas or information from an example, make sure to cite your sources. This will help you avoid plagiarism and maintain academic integrity.

You now have a plenty of business essay examples on different topics to help you get started!

By following our tips and studying the sample essays, you can confidently write your own essays that are clear, concise, and impactful. 

However, if you still find yourself struggling with your business essays, just reach out to our professional business essay writing service . 

We have the best online essay writing service and are ready to provide you a high-quality business. Our writing service has subject specialist writers who can tackle any business essay topic.  

So why wait? Contact us today and let our AI essay writer take your business essays to the next level!

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Growing the Good in Business

A business that is increasing in one or more ways might be said to be growing. No single overarching signal may be used for development (Eriksson, 2022). Instead, the emphasis may be placed on the many different signs of growth. The expansion of an organization is critical to ensuring its continuing success (Eriksson, 2022). It helps purchase assets, finance new projects, and recruit new employees. Additionally, it plays a significant role in the prosperity and expansion of enterprises. The Notre Dame Business Education Center is a facility that provides a substantial quantity of support that is of critical importance to the whole human species as a whole. The fact that students at Notre Dame Business Education Center are dedicated to advancing the public good via business is a significant motivating element in their choice to join the university. In addition, most students can go beyond shareholder value and profits when making decisions and instead base their choices on ideals and the greater good. This essay is a discussion of what good business means to me.

For me, running a successful business means striking a balance between my enthusiasm for providing excellent customer service and the need to keep my company solvent and expand. Problems will arise due to the asymmetry if either side of the equation is allowed to grow out of balance. In addition, running a successful company requires never coercing customers into buying things you know they do not want or desire. When you deliberate on growing your business, you must be prepared to face the challenges that naturally accompany that growth. You may reduce the uncertainty associated with running a business by devoting part of your time to planning out your company’s future course of action and strategy.

You will not only cultivate a dedicated following but also bring in new clients via word-of-mouth marketing if you provide excellent service to both your clients and your employees and make it clear how much you value them. When businesses positively impact the lives of their employees and customers, they are more likely to succeed. You will have to make several decisions and engage in strategic gambling to construct your company successfully. In the process of formulating growth plans, defining a strategic strategy is one of the most critical phases that must be taken. You will be able to take your firm to new heights if you invest the time and effort required to develop a comprehensive and practical strategy. A company’s strategic plan focuses on medium- to long-term goals and the underlying system for successfully achieving those goals. If you undertake long-term planning for your business, you can figure out what it is you want to get out of it in the long run, and then you can work out how to get there. It requires taking a break from the organization’s day-to-day operations to consider the broader picture and determine what should be emphasized.

Additionally, many business owners in small business centers do not have a comprehensive strategy for their company or organization. This is typically the case for two reasons: either they believe that strategic planning only applies to larger companies, or they have not prioritized it in light of more pressing day-to-day concerns. From my observations, many people who start their businesses do so with the notion that the concept alone would be sufficient to ensure their financial success. When there is a misunderstanding, decisions about new products, new personnel, new locations for sales teams, and new pieces of equipment are all negatively impacted. Some business owners could rationalize their inability to create long-term strategies by claiming that the global environment is too unpredictable. However, businesses that make plans for the aspects of their operations they can control are better equipped to deal with the elements of their operations that they cannot control.

Eriksson, T. (2022). Growing through Giving: The Role of Paying it Forward in Business-to-Business Marketing.  Journal of Business-to-Business Marketing , 1-22. https://doi/full/10.1080/1051712X.2022.2058543

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My Entrepreneurial Journey

I never planned on becoming an entrepreneur but now, i can't imagine doing anything else. this is my story....

Published on  November 6, 2018

Filed under  entrepreneurship.

How did I get to where I am now – an entrepreneur who has run my own business for the past 7 years? Good question. I’ve tried to distill the major elements of my life into the story you’ll find on this page. I hope you’ll enjoy it and be inspired to uncover the important moments in your own entrepreneurial journey.

Ever since I was little, I have been creating businesses or thinking up ideas for ones. And I don’t mean the standard summer lemonade stand, because a) I don’t like lemonade and b) you don’t go outside for prolonged periods of time during an Arizona summer unless you want to willfully die by melting.

The businesses I started as a youngin were very creative and very air-conditioned.

It started with small enterprises. Like the time I sold a handmade 5-foot beaded lizard to a neighborhood boy for a whopping $20. I expanded my line to include other little beady animals and negotiated sidewalk deals for $2 here and $5 there. Talk about living a #girlbosslife… I thought I had made it big time with that moolah in my (cough cough) fanny pack.

I also experienced early business failures. Like the time I created an at-home library in front of our unused and perplexing fireplace (see: note about death by melting in Arizona).  My business model was to fine my family members when they didn’t turn in their borrowed books on time. After 20+ years, I’m still waiting for those fees. Serves me right for lending out books that weren’t mine!

Once the internet came along, my business horizons opened up. Near the end of high school, I got hardcore into sewing – if that’s even something you can get ‘hardcore’ into – and built a website to sell my garments. I would stay up until 2am every night deconstructing clothing (or sheets… yes, sheets) that I found for $1 at Goodwill, only to humpty-dumpty them back together again as a cute shrug, skirt, or top. I named my little business Quinntessential Clothing. Note the double “n” in the name. My 17-year-old self would want to make sure you noticed that.

Ultimately, my childhood foray into business planted the seeds for becoming an entrepreneur years later. Like all good things in life, that seed started with a feeling .

A feeling of excitement and empowerment when people actually wanted what I had created with my own two hands. Better yet, they WANTED to pay me! Whether it was $20 or $200, every cent that I earned was because of my creativity, my ability to turn nothing into something, my skills at communicating value to others (e.g. clothing made from sheets ), and my focus on building something that was meaningful to me.

That feeling would be my motivation when I was older and decided to try my hand at being my own boss, but we have to take a few detours before we get there…

To Be or Not to Be (An Actress?)

Growing up, I always had a clear sense of purpose for who I wanted to be: a successful actress. I just knew that I was going to walk red carpets and make people cry because of my powerful performances. Yes – you read that right: wearing fancy gowns and making people cry were my life goals. #priorities

In all seriousness though, acting just made sense for me: I loved stories, I loved characters, and most of all, I loved attention. Shine that spotlight on me, puh-leaze!

Bolstered by the belief that acting was my true north, I did what any sane, naive, idealistic young girl would do: I packed my bags and hightailed it straight to Los Angeles. The City of Angels. The City of Stars. The City of I’d-prefer-death-by-melting-in-the-Arizona-heat-than-sit-in-any-more-traffic.

I majored in Theatre Arts at Loyola Marymount University, a lovely liberal arts college situated on a bluff in West L.A., offering a glimpse of the ocean on one side and the Hollywood sign on the other – or at least it did when the pollution cleared. I found my tribe in the colorful, flamboyant, and kooky Theatre Majors and immersed myself in the art of The The-ay-ter (say it like that and you sound smart) .

Acting and theatre became my life – I thought about it, read about it, saw it, performed it, and loved every second of it. I even traveled across the pond to foggy ol’ London town to study at an acting conservatory there, seeing 2-3 plays a week and coming to realize that my real place in the world of acting was on stage, not the screen.

Now, if you were worried about me giving up my red carpet dreams, don’t be, being on the stage still gave me the I-make-people-cry thing, so I was doing okay. What I discovered that was much more fulfilling in theatre vs. film was that it was about total transformation – using the voice, breath, and physicality. It required full embodiment of a character, not just an eyebrow raise or a carefully placed tear in a film close-up.

When It All Falls Down

Let’s jump forward 5 years, when I took my very last bow as an actress. I had just given the best performance of my life but I was done. I had come to realize that I had no desire to do that for a living, nor live the life of an aspiring actress in L.A..

If I was sitting with you in a dark lounge with a bottle (or two) of wine, I’d be happy to tell you the full story of how I came to this realization, but I’ll spare you the details and let you fill in the gaps as you may.

All you really need to know is that it involved an ornery British director, a play that probed the mysteries of existence, a grueling rehearsal period, too many Camel Crush cigarettes, and a fiery demon character that I played named Lilith. Look her up , she’s a hoot.

Now you’re probably wondering – “Really, one bad experience that led to your best performance and you just gave up that easily?! You had great things ahead of you!”

Well, first – thank you for your concern.

  And second, let me explain…

My director had a knack for going after me during rehearsal. He would constantly stop me mid-line, tell me I was doing it wrong, and make me repeat it until I got it “right.”

I would have never said it back then, but I was grateful for him at the same time that I hated him with a passion. He forced me to get out of my head and learn what real acting was. One night I remember in particular, when he got so fed up with me that he stopped and pointedly asked:

“Quinn, what do you think acting is?”

My all-girls-Catholic-high-school education meant that I presented a perfectly polite answer, something along the lines of acting as “embodiment,” with “storytelling” and “emotion” thrown in for extra credit.

  “Showing the truth about humanity,” I threw out there with increasing politeness which grew parallel with my anxiety.

After a good 10 minutes of back and forth, he finally yelled at me and said “It’s so simple and you’re missing it. Acting is being real. And you aren’t being real up there. You’re not reacting in the moment, you’re reacting in your head and performing that reaction. You’re just full of bullshit.”

But, he was right. He saw deep into my core and expose an element of who I was that felt like a fraud, a fake, a performer. I didn’t know how to be real or raw, in fact, that scared me more than anything else – on stage and off. Although I was able to tap into real moments on stage, this experience went way beyond acting for me.

It drew me deeper into myself, asking big questions about who I was, what I truly wanted to do, and how I wanted to live in the world.

Living the Sweet Life

For the next 2 years, I utterly failed at answering those questions in the slightest. My identity had been so tied up in acting and theatre, and I suddenly was thrust into the real world without that anchor and without much forethought of what else I could or wanted to do with my life.

So naturally, I got a job doing the next best thing to acting: marketing.

I figured it was pretty similar to theatre. After all, they both ask the same question: How do you tell a story authentically in order to move people? In theatre, you move them to tears or laughter, in marketing – you move them to take action.

I took an intern position with an all-female promotional staffing agency called Sweet Deal. It had initially started as a female casino dealing company (hence the name) and had expanded into staffing for events and experiential marketing programs for consumer products.

I did a little bit of everything. Graphic design, cold calling, managing events, admin work, and even dealing craps, poker, and blackjack. I had a lot of fun with it at first. We got to interview and ‘cast’ spokesmodels for different brands, attend crazy parties around Hollywood (yes, I’ve been to the Playboy Mansion…thrice) , and try all kinds of cool products.

I can honestly say that I learned all the fundamentals (and more) about marketing and sales in this job and I’m forever grateful because I wouldn’t have been able to start my own business without the experience.

When Sweet Goes Sour

I quickly became an integral part of the company. The problem was that I was always “on call.” The more my role grew, the more I was managing and the more moving parts there were.

I remember clients calling me at 1am, screaming at me that their spokesmodels were late and other things like “where is the vodka!?”

I remember setting up business meetings with prospective clients, only to find out they were sleazy men who just wanted to grab a drink with a young girl and try to lure her to his private SuperBowl suite across the country that weekend (all while his female assistant watched).

I remember not knowing how to have boundaries between my work life and my personal life. In fact, any semblance of a personal life disappeared as I poured myself into my role.  

My relationships suffered, my health suffered, my mind suffered, and ultimately, I landed in the hospital with a severe case of mono.

Now, if you jumped to conclusions that I must have been kissing a lot of boys to get mono that bad, then – my dear reader – you would be spot on.

But moreso than that – I was extremely stressed, constantly on edge, barely sleeping, and not taking care of myself in the least. So it wasn’t a surprise when the doctors told me only 3% of adults get mono as severe as I did, and that what I needed was REST.

Two Roads Diverged

REST?! Not me! I don’t need it! Instead, how about I take a full-time employee position at my company less than a month after getting out of the hospital? That sounds perfect!

After all, I had gotten so good at playing a part again. The play was my life and I was the leading lady. Except this time, I had no idea what my lines were. I sashayed my way through a fake performance, never knowing the deep scars I was cutting.

It’s weird how the most mundane of moments get seared into your brain forever. I will always remember the feeling of the bristly carpet under my bare feet, me sitting on the edge of my four-poster bed in the middle of my teal-painted bedroom. I was talking to my mom about my decision to become an employee, and although I don’t remember what words were said, I do vividly remember how I felt.

A visceral, physical feeling of NO, as if I had done an intense upper-body workout the day before and someone was pulling back on those sore, tired arms while I struggled to pull myself forward and away from the grasp.

I didn’t know at the time that my body could say no without me thinking it.

I didn’t know that this visceral wrestling match should have been a warning sign from the start. I didn’t know what I didn’t know I should know.

I just kept pushing without realizing how far gone I really was.

Looking back, I clearly see how a different path could have formed in that moment of dread. How I could have started painting the dots that would have connected me to where I am now just a little bit sooner, starting right there with that carpet kissing my soles.

But, just as we can’t connect the dots of our lives looking forward, I couldn’t see clearly where my path would go, so I soldiered on. After all, I hadn’t hit rock bottom yet. Maybe I was curious what I would find there.

Why is there a Rock at the Bottom?

Nearly a year later, I was in a car with my parents and a trunk full of my possessions, heading back to my hometown of Phoenix.

If rock bottom is supposed to be a good, long cry on the bathroom floor, praying for a voice from the heavens to tell you what to do – well, that ain’t my rock bottom.

My rock bottom was taking a hard fall off my bike and feeling no pain, no adrenaline rush, nothing except the warm drip of blood down my leg.

My rock bottom was the stress you might get when stumbling upon a wild lion with its teeth bared – except the lion was the buzz of my phone and my body was conditioned to fear it.

My rock bottom was watching the barren landscape between L.A. and Phoenix fly by as I left the life I knew for the life I wasn’t sure I wanted to arrive at.

My rock bottom was a minefield of black holes and implosions.

There’s a Light

If I were to throw a theme party for what happened next in my life, I would make everyone dress in white and pretend to be onions. And because that’s NOT a real-world party people would actually attend (or would they?) and a weird analogy to begin with, let me clarify: the theme of the next stage of my live was peeling away the layers of trauma, of numbness, of lethargy, of illness and of ambivalence.

I had no idea what I wanted to do with my life. I had left behind the career I thought I’d always have, I failed at the career I tried to have, and I was left with a shell of my former energetic, creative self.

I had been exposed to deeper questions about life and meaning through my last real acting role, but I had pushed away searching for the answers away for years.

The bad thing was: I was starting from scratch.

The good thing was: I was starting from scratch.

In my attempt to start over, I did two things that made all the difference.

First, I started a blog called Urban Soul Retrieval, designing it from scratch and teaching myself web design in the process. I wrote about my experience in depth, connected with like-minded strangers on the web, and made sense of the decisions that led me to despair. My blog showed me that I could shape my story and reclaim it as my own instead of letting it write me.

The second thing I did was lots and lots of YOGA.

I had practiced yoga and off for a few years in L.A., as one does when you live in L.A..

It was the one thing in my life that made me feel really good . After a nice long stretch, I could suddenly feel a lightness that I hadn’t been able to access in so long. With a glimmer of hope coming back into my life, I followed my curiosity and enrolled in a year-long yoga teacher training.

It became the most transformative experience of my life.

At Yoga Pura (it translates to yoga “home”), everything was an experiment. It was about posing a question – who am I? – and using our minds and bodies to find clarity. My buttons were pushed, my body was stretched, and my mind was completely transformed.

It wasn’t the slightest bit fluffy or woo-woo either, in case you were wondering.

I’ve experienced the gamut of yoga studios across the country – from New Age to hardcore physical to cultish – and this one was unique. The studio owner and my main teacher was an army veteran, goatee-wearing, motorcycle-riding, chihuahua-owning man. He was blunt, extremely logical and smart, sometimes harsh, and totally empowering.

He led us to explore big things – existence itself – and small things – how to align your foot in Warrior II (and why that might help you with the big things). Through the physical practice, I built back the strength I had lost from my illness and neglect. Through the mental practice, I started to feel less like I was outside of myself.

And through it all, I was forced to face my truth for maybe the first time ever. I became intimately familiar with the swirling madness of my mind – and learned to identify thoughts and beliefs that had shaped who I had become, both the good and the bad.  

We don’t often get the chance to sit and face our humanity head-on. To look at the dots that brought us to this moment we are in right now, and to draw the dots that lead us into the future we envision.

But, I’m forever grateful that I did face it – however gut-wrenching and hard it was – because what it led to was more than I could have asked for.

The Pen that Began it All

If you’ve made it this far, dear reader, you may be wondering where the entrepreneur part comes in? This is my entrepreneurial journey story after all! So, here we are at the very beginning…

During my year in yoga teacher training, I am at a coffee shop in North Phoenix and a man sitting at a nearby table is on the phone. He stands up looking for a pen to jot something down that the person on the other end is saying, so I gladly offer him mine. His call ends and he thanks me, returning my pen. We get to talking and he points at my computer and asks, “What are you working on today?” And I tell him “Just working on a graphic design for my blog.” He says “Oh, well perfect – I’m looking for a graphic designer! What’s your hourly rate?”

I threw out a number that I heard from someone once, and right there and then, he became my first client for a business I didn’t even have, but I sure as hell was going to figure out! The conversation was all-in-all maybe 5 minutes long, but it is the foundation of the business I have ran for 7 years now.

I didn’t have a plan to become an entrepreneur, but now that I am one, I know that it’s what I was always meant to be.

Fun fact: I met my husband a few years later the same way. This time, I was the one that needed a pen and he was the one to lend it to me. We’ve been together ever since, but that’s a story for another time…

We’re Back in Business

I continued to build a nice little roster of clients that kept me busy while finishing up my yoga program. I had always been a self-taught designer, so I continued to refine my skills and enrolled in a few online courses to learn the basics of two new design programs. By the time I graduated, I had enough work to go full-time with my business.

I moved into my own little studio apartment in Central Phoenix and felt a whole new me emerging – a creative, empowered freelancer who could pay my own bills through a business I had built! I felt the same rush when I signed a new client that I did when I sold my $20 beaded snake to the neighborhood boy or a handmade clothing piece from my high school website.

I started integrating my marketing experience into my design services, and soon after signed on a big retainer client. I became their Marketing Manager, leading their digital marketing program – creating content, managing social media, and developing strategies for big corporate clients. The CEO (and one of my favorite people) thought I would be a good speaker with my theatre background (and natural flair for the dramatic), so I began teaching content marketing workshops around the country.

I also continued to work with small business owners and entrepreneurs on their creative projects. From yoga teachers to artists, adventure coaches to creative, I took their ideas and brought them to life.

I observed what made entrepreneurs tick, what drove them to start their business, who they wanted to serve, and what impact they wanted to make in the world. And then I got to take all of that goodness from inside their heads and use my skillset to transform it into a platform – a brand, a website, a digital strategy – that would help them realize the deeper vision they held for themselves.

I noticed that the entrepreneurs who found the most success were the ones that were laser-focused on that deeper vision – on their purpose. They were more empowered, more assured of the value of their work, and more able to make an impact to those they wanted to serve.

I got a tingly magical feeling whenever I worked with entrepreneurs who were purpose-driven, because it was that much easier and fulfilling for me to help them bring their ideas to life. I knew I had latched onto something good…

The Big Leap

After 5 years with my biggest client, I made a big decision to move on.

I had become their Director of Marketing, was traveling to speak regularly and had built up a reputation as a content marketing expert. I had always been able to do everything as a contractor, so I could continue my creative work with entrepreneurs that I was so passionate about. But the amount of mental and physical energy it took had finally brought me place where I had a choice: go full-time and commit myself more fully or move on.

I chose to move on. I will forever be grateful for the experience because of the expertise I built in digital marketing and for the fact that I learned what it meant to bring ideas to life at a huge scale.

But, I had an itch to build something of my own, and for the first time, I had the confidence and know-how to create it for myself.

I wanted to write in my own voice about things I felt were important in today’s world.

To speak to women and work with entrepreneurs who want to build a business and a life they have always envisioned but for whatever reason have been held back.

I wanted to inspire people to uncover their purpose and bring it to life through their business.

To heal the parts of themselves they have ignored for so long.

To be aware of the traps that hide along their journey and know how to NOT fall into them  

To integrate their life and business and become fully embodied and EMPOWERED  

To create a platform for like-minded people across the world to share, connect, and learn from each other what it means to live and breathe their purpose daily.

What’s Next?

That brings me to this paragraph in this very first blog post on my new website. This site is the manifestation of a lifelong journey. It feels like an accomplishment in itself, yet I know that it’s also only the beginning of my journey, and hopefully yours alongside me.

If I’ve come to learn anything through writing and reclaiming my own narrative, it’s that living life with purpose is the key to empowerment. Our purpose is shaped by our experiences. It’s chiseled by pain. Informed by joy. And brought to life through intention.

Our business can be the channel to bring our purpose to life and make an impact on the world in a way it needs it most and the way we uniquely can.

So thank you for being here and reading my story. Together, let’s create a life of meaning and significance. On purpose.

Explore more blog posts

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10 Ways to Write Good Instagram Captions (with Examples + Tips!)

Planning for a Purposeful 2023 (+ My 3 Rituals!)

My 2023 Word of the Year

Is Instagram Worth it Anymore?

I’m an oldie……………….and reading your story has empowered me to think, feel, and explore. I’m touched. I love you.

Cool story. Thanks for sharing. It’s always cool to read how people find their purpose and not be afraid to push themselves to work hard for what they love.

Thanks for reading! It was a winding path for sure, but I wouldn’t trade it 🙂

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Trump’s Newest Venture? A $60 Bible.

His Bible sales pitch comes as he appears to be confronting a significant financial squeeze, with his legal fees growing while he fights a number of criminal cases and lawsuits.

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By Michael Gold and Maggie Haberman

• March 26, 2024

Before he turned to politics, former President Donald J. Trump lent his star power and celebrity endorsement to a slew of consumer products — steaks, vodka and even for-profit education, to name just a few.

On Tuesday, Mr. Trump, the presumptive Republican presidential nominee, added a new item to the list: a $60 Bible.

Days before Easter, Mr. Trump posted a video on his social media platform in which he encouraged his supporters to buy the “God Bless the USA Bible,” named after the ballad by the country singer Lee Greenwood, which Mr. Trump plays as he takes the stage at his rallies.

“All Americans need a Bible in their home, and I have many. It’s my favorite book,” said Mr. Trump, who before entering politics was not overtly religious and who notably stumbled while referencing a book of the Bible during his 2016 campaign. “It’s a lot of people’s favorite book.”

Though Mr. Trump is not selling the Bible, he is getting royalties from purchases, according to a person familiar with the details of the business arrangement.

Priced at $59.99, plus shipping and tax, the “God Bless the USA Bible” includes a King James Bible and a handwritten version of the chorus of Mr. Greenwood’s song, and copies of the Constitution, the Bill of Rights, the Declaration of Independence and the Pledge of Allegiance.

In his video, Mr. Trump expressed his approval of the book’s blend of theology with foundational American political documents, framing that mix as central to the political call that has been his longtime campaign slogan, Make America Great Again.

“Religion and Christianity are the biggest things missing from this country,” Mr. Trump said. Later, he added, “We must make America pray again.”

As he runs for president this year, Mr. Trump has framed his campaign as a crusade to defend Christian values from the left. He often makes false or misleading claims that Democrats are persecuting Christians. Last month, he told a religious media convention that Democrats wanted to “tear down crosses.”

His Bible sales pitch comes as he appears to be confronting a significant financial squeeze. With his legal fees growing while he fights four criminal cases and a number of civil lawsuits, Mr. Trump is also being required to post a $175 million bond while he appeals his New York civil fraud case — a hefty amount, though one that is significantly smaller than the $454 million penalty imposed in the case.

According to the Bible’s website, Mr. Trump’s “name, likeness and image” are being used “under paid license from CIC Ventures LLC.”

The Trump campaign did not immediately respond to questions about the business arrangement. But CIC Ventures is also connected to another product Mr. Trump has hawked while campaigning: $399 “Never Surrender” sneakers that he announced at a sneaker convention in Philadelphia last month.

Michael Gold is a political correspondent for The Times covering the campaigns of Donald J. Trump and other candidates in the 2024 presidential elections. More about Michael Gold

Maggie Haberman is a senior political correspondent reporting on the 2024 presidential campaign, down ballot races across the country and the investigations into former President Donald J. Trump. More about Maggie Haberman

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The sister of the young Michigan woman whose killing has become the latest flashpoint for Republicans on illegal immigration is pushing back on Trump , criticizing him for using her sister’s death  to score political points and contradicting his claims that he contacted the family.

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5 major challenges that have China headed for a '100-year storm,' according to billionaire investor Ray Dalio

• The billionaire investor Ray Dalio says five major trends have China headed for a "100-year storm."
• They include a debt problem, an internal wealth gap, and increasingly fraught relations with the US.
• "The circumstances and the mood in China have indisputably changed to become more threatening," he said.

There are major economic and geopolitical challenges brewing a "100-year storm" in China, says the billionaire investor Ray Dalio.

In a LinkedIn post on Wednesday, Dalio listed five major forces casting a shadow on Beijing, detailing headwinds he says have been building up over the past four decades.

"When there is a lot of debt and big wealth gaps at the same time as there are great domestic and international power conflicts and/or great disruptive changes in nature (like droughts, floods, and pandemics, which China is especially prone to) and great changes in technology, there is an increased likelihood of a '100-year big storm,'" Dalio wrote. "That is the current environment in China."

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First, the debt problem . China has for the past few years been mired in a property crisis that has hamstrung its economy by sending real-estate prices, asset prices, and employment in a downward spiral. On top of that, the country has an aging population, which is weighing on the financial system, especially under the legacy of the one-child policy. Dalio said those trends were depressing economic activity, prices, and psychology.

Then there's a growing internal wealth gap that has spurred the government to push for more "common prosperity," Dalio said. He added that the shifting policy focus had been "fear-inducing," which has additionally soured the mood in China.

Next, there's the increasingly fraught relations with the US . The power conflict between the two countries has bled into investor sentiment, steering money away from China. Businesses have been caught in the crossfire too, trying to appease the US.

"In trade and capital flows, a cat-and-mouse game has developed that has led companies and people to move to neutral countries and to try to appear to be non-Chinese or not Chinese sympathizers, so much so that the Chinese are having problems getting other countries and companies to accept them being there and/or investing in them," Dalio wrote.

China is also dealing with a technological war with the US, Dalio wrote. Both countries are pouring money into technologies including AI and quantum computing, each trying to get the lead over the other, he said.

Finally, there are the risks of the climate crisis , including floods, droughts, and pandemics, all of which are likely to cost a lot, he said.

"The circumstances and the mood in China have indisputably changed to become more threatening," Dalio said.

Watch: Protesters in China are trying to break out of quarantine

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