Our Strategy section contains material on best practices, performance management and will help you to set a direction for your company.
  • What are the objectives of business intelligence


    It is known as business intelligence or business intelligence, the set of techniques, strategies, and technology that through the measurement and subsequent analysis of data, seeks to improve the task of those responsible for a store and help them achieve their business objectives. The main objectives of business intelligence are: 1. Collect all possible data about the clientele Among these data are: The number of people entering the store at different times of the day. This is done through an advanced person counter. Tour they make inside the premises. Websites that visit from their mobile phones through the free Wi-fi provided by the store. 2. Analyze the data collected A set ...
  • Omni-channel retail 5 benefits of implementing it


    The benefits of implementing omnichannel retail, which many believe will be the next great trade revolution, make this a strategy that must be taken into account by all retailers. What is the omnichannel retail? It is the sales strategy that integrates all existing channels in the market (physical stores, online stores, applications for mobile devices, contact center and those that will arise in the future). The client that initiates communication through an interaction channel can continue it and end it with another one. It is an ideal strategy for these times when the barriers between physical and digital commerce are tending to disappear. It is not uncommon for new stores and platfor...
  • Manual tracking of the prices of the competition vs. automatic solutions


    Having a price tracking of the competition is essential. New technologies give us ways to do this in a quick and simple way. All retailers should keep track of the prices of their main competitors, to stay in the same range and even try to offer advantages (lower prices) to their customers, as much as possible. This has always been the case, and it is a usual practice for owners or store managers. But new technologies now allow other ways to perform this task automatically and, therefore, in a much simpler and faster way. Manual tracking of the prices of the competition To follow up, a group of people must go through the stores and check the prices of different items one by one, and the...
  • Why Business Fail Even Though Business School Offers Good Strategy


    Why do small businesses fail even after even though you attended business schools that offer the best strategies? Business failure is the least of things want to encounter when you start a business. Therefore, if you want your business to succeed, you need to know and avoid, these eight (8) common errors that could bring about failure despite having the right strategies. Starting for the Wrong Reason According to researchers, more businesses are established every month, and numerous are created for the wrong reason. Whenever you create a business for the wrong reason, you are bound to fail. When dealing with the right reasons to start a business, It should include the following: You ...
  • What are the benefits of business intelligence?


    Business Intelligence is a tool that is here to stay and transform the world of commerce. Here are some of the benefits of applying it in a physical store. 1. It allows knowing patterns of customer behavior Business intelligence offers the possibility of knowing various aspects of customers and potential customers. For example: What are the hours that most visit the store? What is the route they do inside the premises? What sites in the store go unnoticed before your eyes. Even what they search on the Internet with the local Wi-fi. 2. Increase sales This is the ultimate purpose for which the business works: to earn more money. Through business intelligence, this goal can be ac...
  • How the internet of things is changing the way you sell in a store


    Do not stay out of technology. We show you everything the Internet of Things can do for you inside the store. Currently, the Internet is present in all aspects of daily life. Why not, then, introduce it in the store to obtain information and work more efficiently? There are several ways to allow the advantages of the Internet to be incorporated into the store and help to gather better information about consumer behavior. IoT inside the store The Internet of Things or (IoT) is a concept that tries to represent that everyday things are connected to each other and the Internet and can provide data in real time. Where can IoT be found inside the store? Thermometers Tags RFID (radio fre...
  • How to perform benchmarking for retail?


    When you want to be the best it is worth analyzing the competition, not to copy it but to perfect, for this there is benchmarking for retail . Keep reading, and you will learn! The success of sales is largely dependent on the quality of the services provided, the customer experience can be positive, negative or even generate “indifference,” but the idea is to make every physical or virtual contact with the store enriching and able to create loyalty ties. Achieving a relationship of loyalty with the customer goes beyond the commercial, we can say that it is necessary to establish a friendship with it and work permanently to cultivate and strengthen it, which leads to the need to review u...
  • Business intelligence and big data how do they apply to the retail sector?


    The information has become the greatest asset of the retail sector, so it is essential to understand how business intelligence and big data work. Learn here to get the most out of it. Every movement made by a customer in the store generates data, which helps to understand their preferences better and understand their behavior, hence the need to keep a strong record and more importantly to be able to analyze this data. Understanding the value of the use of data in retail, it is not surprising that nowadays data analytics is being applied at each stage of the retail process, allowing us to know in advance what the demand for products will be, Which clients will be interested in buying the...
  • Why should I invest in Business Intelligence for a store?


    When asked why you should invest in Business Intelligence for a store, the answer will be measured in higher sales. Next, we explain how. Under the concept of “data-driven stores” Business Intelligence is born, given the need to take advantage of the infinite amount of data generated within the commercial activity and that can be very useful in the retail area. Ignorance of the possibilities offered by the analysis of data becomes a disadvantage for modern retail companies since the vast volumes of quantitative data collected daily will allow better management and control of consumer preferences. But before delving into the mystery of why should I invest in Business Intelligence for a ...
  • 5 business intelligence trends for 2019


    The hard work that is done inside the store is not enough to be the best, that’s why new Business Intelligence Trends have emerged for this 2019, designed to help you succeed Discover what they are! First of all, we must make clear the meaning of the term Business Intelligence (BI), which offers the possibility of observing in detail the past of the company through analysis and reports, this occurs from the historical information of the business. The vertiginous changes that business presents go hand in hand with technology, which is why it is necessary to constantly review business intelligence trends, because what used to work, today may not be so useful. Below we detail the top 5 bu...
  • SWOT Analysis How to Use Before You Do Your Strategic Planning


    SWOT analysis is one of the main tools in support of Strategic Planning. With that in mind, we decided to talk more about how to use SWOT Analysis to start doing your Strategic Planning. What is SWOT Analysis? SWOT analysis is a management tool created decades ago and used until today for you to analyze the external and internal environments that your company finds. With it you raise the Forces and Weaknesses (internal environment) and the Opportunities and Threats (external environment) that affect your business. How to do a SWOT Analysis? To get started you need to list all the strengths and weaknesses of the company. You can brainstorm with your team to list all of these options. One...
  • Single-tasking and the Myth of Multitasking Productivity


    If your work routine involves endless to-do lists, if during your day you jump from branch to branch trying to do a little of each thing to meet all your demands, if you have the feeling that everything important was to yesterday, then maybe it’s time to stop to gauge how you’re working. The attempt to do several things at the same time (“multitasking” in the English term, which does not have a version like this in Portuguese) is very seductive. The notion that we will be able to do more during the day is extremely seductive, and we will do anything to make us believe we will gain a little bit more from this scarce commodity. However, today it is known that the idea that you can do sever...
  • Tips to Improve Your Time Management as Entrepreneur


    When we are trying to be more productive and improve our time management, we tend to try to classify, filter, sort, label, and ultimately organize everything we have to do. While this is all really important - so important that there are techniques like GTD, Pomodoro Technique, and others to help us - we forget to treat the things we should avoid … Procrastination Procrastination, according to Wikipedia, is “deferral or postponement of action.” It is to do afterward what can, and possibly must be done now. We are all guilty, to a greater or lesser degree - throw the first stone who never left what he was doing for five minutes to see that nice video that the colleague sent, or to read th...
  • Time Management and the Pomodoro Technique


    Time is one of the most used words in project management, especially in expressions where lack of it makes it impossible to perform new tasks, for example: “I can not, I’m out of time.” But often this lack of time is due to lack of organization, so it is necessary to allocate it correctly to optimize its use. One of the techniques to optimize it is the Pomodoro Technique, invented and baptized by the Italian Francisco Cirillo. The technical rules are as follows: Choose the tasks to be performed. Mark 25 minutes for each task, time that will be called Pomodoro. If a task takes more than 25 minutes to complete, divide it into several Pomodoros. Create a control sheet listing all P...
  • SMART Goals - How to Set Smart Goals


    How many times have you set goals after doing your planning but have not been reached? For you not to play your waste planning you need to build your goals smart. For this, you can use the SMART goal building method. What are SMART Goals? SMART targets Targets are constructed to consider attributes 5: S (Specific), M (Measurable) A (Attainable), R (Relevant) and T (Timely). Let’s explain each of these attributes below: S (Specific) The first element to building a good goal is to consider it to be specific. Escape from wrong interpretations, both on your part and the part of your team and specify as much as possible your goal. Let’s look at the following example: Wrong Goal: Sell More...
  • 7 Tips to learn to negotiate


    Learning to negotiate is the key to success as an entrepreneur. The Center for Economics and Business Research revealed that companies could increase their annual profits by 7% if they only improved their negotiating strategies. The main problem is that many entrepreneurs negotiate by letting their instinct drives themselves and end up making mistakes that result in less advantageous agreements. The good news is that negotiating is an art that is learned. What do you need to know to learn to negotiate successfully? 1. Do your homework Information is power. Sitting at a negotiation table without having investigated the company with which you negotiate implies leaving at a disadvantage. T...
  • What’s the best strategy for business decision making?


    We make decisions all the time. As a small business owner we have to make decisions on all the daily operation problems. You also need to be to make decisions today that will affect your long term strategy. Let’s take a moment and break apart the decision making process. How does it happen? First, we realize that we have a problem that requires us to make a decision. If it is a situation we have encountered before then we can draw on our own experiences to act. If we don’t know then we gather information. We can ask others, read this blog, etc. Once we have some information we can start to brainstorm some potential solutions. When brainstorming we let the ideas flow. Next we can analyze...
  • What is benchmarking?


    It is difficult to understand how well you are performing unless you measure. Benchmarking allows you to determine how well you are performing by comparing your numbers to an average of others. It is used often in sales and operations. Benchmarking forces management to look beyond its own company and see what others are doing. Benchmarking is a proactive discovery method. You can compare your business externally with industry data or internally by comparing different teams, locations and departments. For industry data, it is best to compare against companies of the same type within the same industry. What may look good in one industry may be horrible in another. You look for what ...
  • What is the balanced scorecard?


    Balanced scorecard is a strategic management tool modeled after successful organizations. It was found that successful businesses have clear vision and do not only rely on the financial performance to determine their success. The balanced scorecard brings a balance between financial and non-financial measures. It is made up of four perspectives, financial, customers, internal processes and knowledge and growth. These four perspectives act as four legs to a table, all must be working together or the company will lose balance. Balanced scorecard allows management to make better business decisions. It makes it easier for the business to find areas it needs to make improvements. It giv...
  • How to Write SMART Business Goals


    All companies no matter the industry or size must create business goals to keep improving. Goals helps steer your business in the right direction. The best goals are SMART. They help you to achieve business success and identify what’s most important. SMART goals is an effective method used by successful business owners to consistently reach their business goals. Allows you to go from general ideas to creating an action plan to achieve real results. SMART Goals are Specific (clear, distinct, unambiguous) Measurable (quantitative, significant) Achievable (attainable, feasible) Relevant (important, related) Time bound (time sensitive, ending) Smart business owners know the ...
  • How to relocate your business


    Are you thinking about moving your business to a new location? There is a lot of preparing to do. To make the move to a new city or country you should start by doing a lot of research to learn as much about the location and its people as you can. Even cities less than 100 kilometers away can have different attitudes. There are many reasons to move a business. Expand into new markets, increase quality of life, access to more labor, decrease costs and increase revenues. Some locations are difficult to find skilled workers. Perhaps you need new facilities. Moving to larger cities gives access to transportation hubs, rail, international airports and ports. Research Do research on the...
  • How future trends of retail impacts the small retailer


    Retailing is an old business model that goes back a few thousand years. Only in the last hundred years has there been some drastic changes. Customers today have more choice than ever before. They can buy from small to giant retailers. They can buy local or buy from the other side of the planet via ecommerce. The growth of giant retailers, shopping malls and technological advances have put a lot of pressure on the small retailer. Giant retailers make it hard for small retailer to compete. Giant retailers have become so powerful that most of consumer spending is done in a handful of large companies. These giant retailers have strong purchasing power to buy their inventory for less than the...
  • Companies need to monitor their online presence


    For the last few years, online shopping has taken off but with smart devices, local presence has become important. Google search ranks results of local higher and it is based on the location of the user. In fact, many websites and applications are asking the user to reveal their location to give a better experience. Business must be aware of their online presence. How their website appears and functions on a user’s device. Mobile technology is thriving. In developing markets, the use of mobile technology is far easier since there is no setup of the entire infrastructure. It is likely in these markets that online browsing and shopping will be done on a mobile device. Social Media s...