The Analyst understands how businesses are structured and how they operate. He or she is able to clearly analyze and generate new ideas and approaches. Before implementing any new proposals or solutions, the Analyst thoroughly considers all of their facets. They are accurate and meticulous in their business endeavours.
Running a business in a fast-paced environment is not the Analyst’s strong suit. They are not inclined to hire or manage employees.
The largest comfortable business magnitude for the Analyst type: Small
Necessary Steps for Success in Your Business
You easily analyze a given situation. You know that before beginning to work towards your goal, it should be precisely defined. You should define and assess the various pathways of accomplishing it. Then, you should choose the most appropriate method to pursue. It is a good idea to weigh the positive and negative consequences of achieving your goal before you take action. If, as a result, you decide that the goal is worth pursuing, then implement your plan decisively. You should do this quickly - if you procrastinate, various circumstances can slow down or stop your goal-completion efforts.
Your advertisements should be properly targeted. If your business is local, you need to broadcast your ads locally. On the other hand, if your business is aimed at a wider range of customers, you should broadcast your ads nationally or internationally. In both cases, you should place your ads in professional and classified directories. Because your clientele usually consists of specialized professionals, it is likely that potential future customers will be looking through these directories. It is also beneficial to contact potential customers through mail, telephone, or other means of communication.
It is important to carefully analyze customer needs so that you can design your ads to target them. Referrals and recommendations from professionals are essential for your business’ success, so make sure to include them in your advertisements. They may significantly impact a customer's decision to buy your product; in many cases, they have no other way of judging its quality.
Give free lectures and presentations if this is an accepted practice in your field. These will attract interested customers, will strengthen your reputation, and may also increase your sales. Such presentations will make your business known to a larger audience and will build customer trust in your company. Another benefit is that they will give you a basis for raising the price of your services. When you speak to your customers, show real interest in them and demonstrate your readiness to help them.
You are basing your business on your own professional knowledge and skills. Therefore, productivity of your business highly depends on the effort you put into it. You should assess whether or not you have the ability to attain your required level of income. Of course, profitability depends on the price of its service or goods, but you can only raise your prices once there is high demand or you have established a reputation.
It makes sense to periodically invest in new, up-to-date equipment - this can help you increase productivity or improve the quality of your service or goods. In some cases, new machinery makes your work easier or creates new opportunities for your business.
Businesses Favorable for the Analyst
The Analyst should preferably act as a Freelancer when he or she runs a business on their own. Analysts that successfully run their businesses can be found in the following professions:
- Tax specialists
- IT consultants
- Software developers
- Budget analysts
- Quality analysts
- Technical advisors
Complete the Entrepreneur Quiz and get the premium version of the results including:
- Your “exact” (=most likely) entrepreneur type.
- Examples of franchises favourable from your entrepreneur type standpoint.
- If applicable, what kind of business partner, in terms of his or her entrepreneur type, you can benefit from partnering with, and examples of occupations for such partnership.