image of hands dawn about to do teamwork

The 6 Business Endeavors

The 6 Business Endeavors, an in-depth look from an excerpt from "101 Things I Learned in Business School" by Michael W. Preis with Matthew Frederick.

Written By: 

Erick Leon


More Info
Less Info

What Is A Business Endeavor?

Anyone who's ever started a business knows it takes more than a great idea to succeed. The business world is ever-changing and dynamic, making it difficult to know what skills and knowledge you need to be successful. No matter how big or small, every business is built on a foundation of key concepts and practices. To be great, any business must have a clear understanding of its goals and objectives. Without this focus, it is easy to become bogged down in the day-to-day details of running a business and lose sight of the big picture. A business endeavor allows you to step back and regularly assess your progress. It also allows you to identify new entrepreneurial endeavor opportunities, creative endeavors, and challenges and adjust your business strategy and tactics accordingly. In short, a business endeavor provides the framework you need to ensure that your business remains on track and continues growing.

What Are The 6 Business Endeavors?

In their book, "101 Things I Learned in Business School", authors Michael W. Preis with Matthew Frederick shares some of the most important lessons they learned during their career. Among them are The 6 Business Endeavors, a key role every business must master to succeed.

Each requires different skills and knowledge, but all are essential for any business that wants to thrive. By understanding the six key business areas, you can give your company the best chance of success. The following are The 6 Business Endeavors that are essential for any business:

Man on computer doing branding

1. Accounting

Whether you're starting a business or running an existing one, you need to understand the language of business. Many business and entrepreneurial endeavors require some level of growth in terms of accounting knowledge. At its most basic, accounting is the process of recording, classifying, and summarizing financial transactions to provide information that stakeholders can use to make sound decisions.

This information is conveyed in monetary terms and can be used to assess a business's financial stability and health. A solid understanding of accounting can give you a valuable perspective on your business dealings and help you make sound decisions about your business ventures.

Finances going up with marketing

2. Finance

Anyone who's ever gone into business for themselves knows that finance is an essential part of any business and creative endeavor. After all, a business is only as strong as the money behind it. That's why it's important to have a solid understanding of finance when embarking on any business venture.

Knowing how to manage your money and your assets is key to success. From investment strategies to budgeting on valuable technology, there's much to learn about finance. But if you're armed with the right knowledge, you'll be well on your way to financial stability and success.

brand awareness to target market

3. Marketing

No entrepreneurial endeavor can be successful without a solid marketing strategy. Marketing is the process of identifying and responding to customer needs and wants, and it involves everything from branding and promotion to distribution and delivery. A well-executed marketing strategy is essential for any business that wants to succeed.

There are a variety of different marketing channels that businesses can use to reach their target audiences. Traditional channels like television, radio and print media play a key role, but businesses are increasingly turning to digital channels and valuable technology like social media, artificial intelligence, and email marketing. No matter what channels you use, your marketing efforts must be carefully coordinated to be successful in your entrepreneurial endeavor.

Searching for data on brand

4. Production & Operations

Whether producing physical goods or providing services, you need to plan how everything will come together. Production and operations include all the steps necessary to create a product or service, from sourcing materials to manufacturing and packaging.

Production and operations managers have a key role for overseeing this process and ensuring that it runs smoothly. To be successful entrepreneurs, effective production and operations play a key role. Businesses must use resources wisely and strive to establish a creative endeavor for products and services that meet customer needs. When done well, production and operations can be powerful tools for driving growth and profitability.

team brainstorming brand solutions

5. Organizational Behavior

Organizational behavior can be understood as managing your money and monetary assets. This encompasses business and artistic endeavors, where you are in control of how your business is run and how you generate income.

In your personal life, it also includes aspects like saving for retirement, investing in valuable technology or other assets, and budgeting to make sure you are living within your means. Organizational behavior is about ensuring that your money and valuable technology work for you in the most efficient way possible. It is essential for anyone who wants to control their financial future activities.

the economic chart of a brand

6. Economics

Economics studies how people use resources to satisfy their wants and needs. It provides a framework for knowing economic development, entrepreneurial endeavors, and how market forces shape our world.

Understanding economic development can help you make better decisions about your business, career, and personal finances. Economics can also help you understand the political and social issues that affect your business. Whether you're running a small business or working for a large corporation, economics is an essential tool for making informed decisions.

101 things I learned in business school cover

About The Book

In "101 Things I Learned in Business School," author Michael W. Preis provides readers with a thorough and well-rounded education in business concepts. He covers topics ranging from financial statements to marketing strategy, giving readers the tools they need to succeed in any business venture. You can buy the book containing the 6 business endeavors and much more using our affiliate link.

Preis's book is essential for anyone interested in pursuing a career in business. In addition, the book includes real-world examples and case studies to illustrate key points and provide assistance to entrepreneurs and businesses. Whether you're just starting out in business or are looking to brush up on your skills, "101 Things I Learned in Business School" is the perfect resource.

Grow Your Business With The 6 Business Endeavors Today

To stay ahead of the competition, businesses must evolve and adapt continuously. When you take your knowledge and skills to the next level, you are better equipped to meet the challenges of a constantly changing marketplace.

This can only be accomplished by constantly learning about industry standards and expanding your understanding of the business world. The 6 Business Endeavors we've outlined in this blog post can help you do just that. Expanding your knowledge and expertise in these areas can set you up for continued success now and in the future.

image of hands dawn about to do teamwork

About the Author

Linkedin Image

More topics about branding

Sign up for a free brand analysis

Let's take 30 minutes to discuss your lead nurturing process, website and any complementary branding assets. At the end of the call you can expect to understand what steps you need to take in order to improve your customer experience.

We will get back to you shortly! Follow our Instagram for even more tips!
Oops! Something went wrong while submitting the form.

DO you really need A branding Agency?

What is the difference between a marketing and branding agency?

A branding agency focuses more on the long term value of a corporation rather than its short term wins.
Branding agencies will:
1. Focus on increasing the value of your customer experience through carefully designed aesthetics, materials, imagery, & messaging.
2. Focus on decreasing churn rate & failed onboarding attempts.
3. Focus on increasing profit margin through higher more affluent customers.
Marketing agencies will:
1. Focus on getting generic fast leads across multiple channels.
2. Focusing more on the quantity of posts and capturing the masses attention.
3. Focus on generating and publishing fast and scheduled posts.

Who needs a branding agency?

A branding agency can be valuable to any individual or organization looking to establish, enhance, or evolve its brand. This can include startups, small businesses, established companies, non-profit organizations, personal brands, and more. If you want to create a strong brand identity, increase brand awareness, and stand out from the competition, Evolv can provide the expertise and resources needed to achieve those goals.

Reasons to hire us as your branding agency.

1. You don't want to worry about micro managing a designer, let alone a design department.
2. You find branding fascinating and want us to teach you and build your skills along the way.
3. You dislike lots of short meetings and prefer longer ones, 2-3 times a month.
4. You like clear cut project rates.
5. You're skeptical about traditional marketing because you've been burned in the past.

How do I get started?

1. Fill out our contact form.
2. Receive an email to schedule a phone call.
3. Discuss your business history, goals, challenges, and vision.
4. Sign contract.
5. First meeting and start of project.

Are we the right agency for your business?

We work with executives, business developers, owners, and start-ups that usually already have a solid business model and now need the tools and assets to expand their market to clients who are willing to pay a premium for a certain standard they've come to love. Our Brand Appreciation Bundle takes 3 months to complete.

How does payment work?

Payments can be broken up in many ways. Here's the most typical we see.
50% Due on project start date.
25% Due at meeting the 75% progress point of the project.
25% Due upon receiving the final delivery.
We accept wire transfer, checks, or Paypal.