Self-Analysis

Your Own Business Self-Analysis

Check out the video I made on the topic below:

In this article, I will try to answer the questions “Why is business analysis so important?”, “Which analysis should we use?” and “How do we analyze?”.

It doesn’t matter whether you’re still looking for your line of work or if you are adept in a business area, there are a few things you should do periodically to “get on track”. I am referring to Self-Analysis and planning.

The Self-Analysis process includes reviewing and analysis of your own interests, needs, and aims, skills, and qualities, values, your failures and successes so far, attitude models, etc. The process includes “piecing together” and analyzing the result.

Defining your own positive and negative features is particularly difficult. I will attach a SWOT (strengths, weaknesses, opportunities, and threats)  Analysis blank in this article, and that way each and every one of you can self-analyze. I advise you to do it here and now and try again in a week. You will be surprised how after one week the result will be completely different. You will find a lot more weaknesses in your self than you will today since during that week your consciousness will single out every single thing that happens to you based on the SWOT Analysis’ questions.

This analysis is pretty easy and quite useful for everyone.

I, personally, found strong sides of my character from it, which I never suspected. For example, I never realized, that working on three monitors at the same time is an advantage. But you can get a lot more work done.

I strongly advise you to do the Self-Analysis. Finding out your strong suits as well as the qualities or flaws you possess is a lot more important than finding out what your competitor’s strategy is.

You can find the SWOT Analysis blank here:  https://docs.google.com/document/d/1hTmu8u10gjpWY8Ke-FkRnN22TVgr0YqthCgrbGPW-ps/edit

 

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My first failure in the software business

My First Failure With The Software Business

Check out the video I made on the topic below:

 I received a lot of criticism for what I said personally from friends and acquaintances. The criticism was followed by advises to hire a PR agency so I don’t say things that would ruin my reputation. I am only going to say it once: Vitan Radushev does not need an agency to tell him what is right or wrong. If I feel that something can be done better – I speak up. I do so based on the experience I have with software development. I can see how my new and old products sell. smpro.net earns $23.25 with the scrappers average while listerhero.com – $19.99. The plugin has not broken down in months and the repricer is tough to deal with, especially when the client base grows.

 

In this article, I want to tell you about my first failure in the software business.

Years ago, when I was creating the platform smpro.net, which was made for Dropshippers in eBay, I didn’t have a clear idea how to write software and how to grow a business. I didn’t know what rules to follow and how to build it adequately.

That is why I decided to create a platform that will satisfy the needs of all users.

That is how me and my colleagues started working on it. We wrote a platform like repricer and started integrating trackings, accounting modules, and many other things.

The platform itself became huge! It took us many years. In the end, it turned out that the users had gotten used to a specific price for a specific service. That way, offering them a few other services it made sense for the price to go up. With the price being raised, a lot of users felt it was expensive. The users are used to pay separately for the same services of different companies but that way the feel like they are paying less. Because of that, the clients on the platform were becoming fewer and fewer and the software could not prove that it was the best on the market.

The truth is for you to have a successful business you need to have a pre-made plan of the model you are going to follow; what kind of service are you going to offer clients. You need to have an idea of where the market is going.

The conclusion is that if me and my team made a few minor tools which were less complicated than that big platform that we created, we were going to earn a lot more money. The tools themselves were going to need smaller maintenance resource and that would have made our business much more successful.

I can tell you from my experience that before you “make it big” you need to “make it small”!

 

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