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13 Ways to Earn Significant Money on Facebook

You use Facebook to connect with old friends and family members. It’s a place to showcase your life; to share statuses, pictures, and events. You can even kill time and play games there, cementing bonds with your other buddies. On the business side of things, Facebook can actually be a valuable money-making tool. If you use this social media platform …

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Five Forces—Threats

What threats does your business face? Where do those threats come from? We’ve talked about three other forces that can have a huge impact on the success of our business.  Each of these forces is based on the current business environment.  But the last two forces are based on the threat of future competitors.  More specifically new entrants and new …

Five Forces—Intensity of Rivalry

How strong is your business compared to your competition? Or take it even one step back and tell me, who is your competition?  In any business situation, it’s important to understand who your competition is. Let me give you three main types of competitors to help you identify who your competitors really are. Rivals—Are there other businesses that does exactly what you …

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Five Forces—Bargaining Power

How much power do you have in negotiating with your suppliers and customers? The first and fifth of the Five Forces described by Michael Porter are Buyer Bargaining Power and Supplier Bargaining Power.  If this is the first time you’ve heard about Porter’s Five Forces, check out my previous article here. So bargaining power… What is it? Bargaining power is …

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Where Does Your Business Fit In?

Think about your business.  Where does it fit into its space? How does your business operate relative to your competitors, suppliers, customers, etc.  Who are your competitors?  Do you even have suppliers?  Well, of course you do, but have you thought about it?  Who holds the power? There’s a simple framework that I want to introduce to you today.  It was …