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Simply put, your business portfolio is the collection of products or services provided by your business.
In my experience, the biggest problem facing most small businesses is understanding which products or services generate the most cash.
Big businesses have the same problem too, but they have a variety of tools they use to understand their business portfolio.
Many of these tools can be used or adapted for use by small business owners to increase sales, reduce costs and make more money – but only if they knew about them!
One such tool is the Growth Share Matrix (also known as the Product Portfolio Matrix, Boston Box, Portfolio diagram and the BCG Matrix) . This matrix was developed by the Boston Consulting Group back in 1970.
So it’s been around a while and stood the test of time.
This tool is often used by big businesses to analyse the performance of their business portfolio. Read More