• Home
  • About
  • Contact

The Phat Startup

The Ultimate Lifestyle Blog for Entrepreneurs

  • Blog
  • Blogger Lifestyle
  • Money & Finance
  • Motivation
  • Personal Growth

Blog

3 Aspects Of Your Business You Should Constantly Be Reassessing

To have a successful business, you have to think of it as a living entity. While some things can remain the same over time, if you want your business to rise above your competitors and prove to be more and more successful as time goes by, there are certain areas of your business that you need to always be improving upon and encouraging to progress until it’s the best it can possibly be for the time being.

To help you with this, here are three aspects of your business you should constantly be reassessing.

Your Product Or Service

While you likely started off with a very specific product or service when starting your business, it’s only natural that this should change and progress as your business grows and finds its place in your market.

Because of this, Nash Riggins, a contributor to Small Business Trends, recommends that you constantly look at and analyze what you’re offering to your customers. In some instances, the changes you make will only be minor. But if you or your customers come to realize that you could significantly improve upon your product or service, you better be willing and able to make these changes for the sake of your profitability.

Your Supply Chain

When businesses are young, their supply chain frequently isn’t as streamlined as it could or even should be. But as your company grows and ages, your supply chain should be something that you try to constantly be improving upon.

For many businesses, one way to improve your supply chain could be to use third-party suppliers. But as long as you’re looking at all aspects of your supply chain, from production, distribution, sales and more, Adam Hayes, a contributor to Investopedia.com, shares that you should be able to find ways that you can get things shipped faster to your consumers.

Your Unique Value Proposition

One of the biggest things that your business should be focusing on is what your business can do to stand out from everyone else in your industry. For most businesses, this is known as their unique value proposition.

According to Ken Favaro, a contributor to the Harvard Business Review, finding a balance between being consistent with the strategy of your business as well as being reinventive is the best way to find the current and future strengths of your business. The better you’re able to stay close to what your values are while simultaneously stretching yourself and finding where you need to be in relation to everyone else, the better situated your business will be.

To help your business grow and develop as much as possible over the years, consider using the tips mentioned above to help you constantly reassess certain aspects of your organization.

 


« How Weight Loss can Contribute to Your Confidence and Personal Growth
5 Simple Ways to Turn Your Hobby Into a Money-Making Business »

About The Phat Startup

The Phat Startup was created by Mike McOwen to create a space where entrepreneur lifestyle could be focused on. We tend to live a different lifestyle than most. Entrepreneurs tend to be interested in maximizing their life, not only their profit.

Connect With Me

  • Email
  • RSS
  • Twitter
  • YouTube

Twitter Feed

Mike McOwenFollow

Mike McOwen
PhatStartupsMike McOwen@PhatStartups·
29 Dec 2017

Why is content marketing so important? Find out here: http://thephatstartup.com/money-finance/why-your-business-needs-a-content-marketing-strategy-in-2018/

Reply on Twitter 946751505146707968Retweet on Twitter 946751505146707968Like on Twitter 9467515051467079681Twitter 946751505146707968
PhatStartupsMike McOwen@PhatStartups·
9 Oct 2017

http://yescincinnati.com/

Reply on Twitter 917521630162759681Retweet on Twitter 917521630162759681Like on Twitter 9175216301627596811Twitter 917521630162759681
PhatStartupsMike McOwen@PhatStartups·
25 Sep 2017

Wow, interesting

Forbes@Forbes

Millennial men are more likely than women to default on student debt http://on.forbes.com/60148NudC

Reply on Twitter 912458136849698816Retweet on Twitter 912458136849698816Like on Twitter 9124581368496988162Twitter 912458136849698816
PhatStartupsMike McOwen@PhatStartups·
25 Sep 2017

I LOVE Toronto! Miss that place

GO Transit@GOtransit

Explore Toronto’s art scene with GO! Enjoy special late night service during Nuit Blanche on Sept 30. https://cards.twitter.com/cards/v2l8b/4ttwx

Reply on Twitter 912458028355670017Retweet on Twitter 912458028355670017Like on Twitter 912458028355670017Twitter 912458028355670017
Retweet on TwitterMike McOwen Retweeted
BuffaloSabresBuffalo Sabres@BuffaloSabres·
25 Sep 2017

Batter's up! ⚾️ Spending quality time with our friends at @MiracleLeagueWN.

4
Reply on Twitter 912457252057034754Retweet on Twitter 91245725205703475454Like on Twitter 912457252057034754319Twitter 912457252057034754
Load More...

Blog Ideas That Make Money

Reduce the risk of car accidents and stay away from critical injuries

The Pros and Cons of Buying Bitcoins with Cash

Top 5 Celebrity Endorsements That Actually Worked

Search

Copyright © 2023 · The Phat Startup

Copyright © 2023 · Divine Theme on Genesis Framework · WordPress · Log in