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Successful Businesses Use This Tool to Predict the Future and Get Ahead of Their Competitors

Successful Businesses Use This Tool to Predict the Future and Get Ahead of Their Competitors

There are many factors that can affect the success of your business and determine which direction you will have to take next. According to research conducted by the Small Business Administration (SBA), one of the reasons 22% of start-ups fail within the first five years of launching is due to poor management.[1]

While there are many management skills for us to acquire, the ability to foresee the future is unquestionably the number one ability everyone longs to possess. Fortunately, it’s not some inherent talent only available to an elite few. With the right tools and resources, you too can make accurate business projections.

What Is PEST Analysis and How It Can Help You Predict the Future

One of the best tools to use is the PEST analysis. A PEST analysis is centered around the political, economic, social and technological factors of a business. These are part of the macro environment. The macro environment is about external influences and factors that can heavily influence a business whether they choose it or not. We will break down the PEST analysis into 4 major factors so you have a better understanding before applying it to your business:

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Political Factor

What it means: This is about regulations and laws that are put in place in your place of residence/ town/ country that have a significant on your business. The issues around politics are, tax, political stability, trade regulations, affirmative actions and so forth.

Why it is important: This is important when planning your finances, hiring policies and training of staff. Some companies have quotas around hiring minorities and previously disadvantaged groups. Some industries require you to train staff on first aid and healthy safety.

How to use it: When you are planning the overall growth it’s important to keep in mind what these requirements are when you reach a certain turnover or head count of staff. This puts you ahead of the curve and you have no surprises when you do reach a certain threshold as implementation and planning can be very costly.

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Economic Factor

What it means: This include factors such as inflation, currency strength, interest rates, trading power and foreign investments to name a few.

Why it is important: This helps if you want to get funding for your business, financing, loans from the banks. The economic environment also gives you insight regarding un-employment rates, pay rates and other financial aspect re your business.

How to use it: This is great for when you’re making financial projections. For example, if you have a long term loan out against your company, factoring in interest rates of the bank ensures that you do not come short on your budgeting. If you wish to hire someone with certain experience and expertise, knowing what the market rate is for such professional can help you in terms of your hiring plan and how to factor in that salary when you’re budgeting

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Social Factor

What it means: The social environment deals with demographics, location, culture, lifestyle and the likes. Having a know how about your environment is paramount to how you establish your business. For example, there is not use going to sell feminine products in an industrial area dominated by men. Or selling fur coats in a place where animal rights are of high importance to the culture. Different cultures like different things so you need to know how to accommodate them.

Why it is important: When the community feel that the business caters to their needs and understands them, you gain more loyal customers and that gives you competitive advantage.

How to use it: It is also very important for organizations to be involved in Corporate Social Responsibility (CSR) – most people think CSR is expensive and is only applicable to big corporations but it’s a social responsibility every company has. You can choose to devote your time to helping repair roofs in a school. You can get employees involved in helping at charities or you can give contribution to a cause. It doesn’t have to be millions but the little can go a long way.

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Technological Factor

What it means: The technological aspect of the PEST is something that is new to this analysis. But in today’s world, it is almost detrimental to your business to ignore technology.

Why it is important: How does technology affect the business you do? The world of retail was transformed significantly when e-commerce was introduced. If your organization deals with everyday mundane and monotonous tasks, how does technology affect your growth. There are some systems that are automated to help eradicate the human error. There are computers that can do a job that easily required 4 people.

How to use it: Knowing what kind of technology is out there and how it either threatens/assists your business, will help you derive a better vision and makes your more flexible and you won’t be so susceptible to change.

The PEST analysis can also be extended to a PESTEL Analysis, which deals with the environment issues like animal rights, carbon footprints, pollution and the likes as well as legal matters such as discriminations laws, harassment, minimum wages and other compliance issues.

If you have the desire to grow and expand your business to be sustainable, the PEST analysis is a tool that can best give you a guideline to take the necessary steps.

Reference

[1] Office of Advocacy: Frequently Asked Questions

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Kayiba Mpoyi

Writer by birth

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Last Updated on August 16, 2019

10 Best Calendar Apps to Stay on Track in 2019

10 Best Calendar Apps to Stay on Track in 2019

The success of our day is largely dependent on the quality of our planning. Not to miss out anything in their to-dos, some people prefer to make a list of upcoming tasks in a notebook, while others have long started using digital technology solutions.

Calendar applications are some of the main tools that are worth using to organize our life and plan your time carefully.

Many people have switched to specific tools; however, there are still some who do not use calendars on a daily basis. They may find some applications uncomfortable to use, non-functional, or expensive.

In this article, we are going to check out the best calendars apps to help you stay organized.

1. Cal Calendar

    Cal Calendar has recently appeared on the market of mobile applications (Android, iOS). It is the brainchild of the development team of Any.do that features impressive functionality and well-thought-out design.

    The application comes with many great features, including support for Exchange and Google Calendar, widgets, voice recording, and many more.

    Cal Calendar has direct integration with Any.Do To-Do List, which gives you a unique tandem of two applications.

    Apart from its extended functionality, Cal Calendar is easy to use. The creation of events is very simple and fast.

    What is more, depending on the name of the event, the application automatically adds contacts and geolocation data to the entry description. You can even import your lists and entries from Any.do.

    Cal Calendar is a great option for any type of user. It is very convenient and doesn’t overcomplicate the mode of display.

    Another good thing is that this tool is available for free, so you can use it without spending a dime for the software.

    Available for iOS and Android

    2. Google Calendar

      Google Calendar is the official calendar for Android devices that has been tested out by many users around the globe. If you are right now trying to get away from it, consider changing your mind.

      Since this application is installed on most Android devices by default, many users think that there is nothing special in this program. They are wrong.

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      Google has been updating its calendar for quite a few years, and now it comes in Material Design with advanced event features, direct integration into other Google services (for example, supports reminders and Google Now), and comes with Exchange support.

      The program is super easy and will not cost a dime for you. It is a good thing, right?

      Available for iOS and Android

      3. Jorte Calendar

        Jorte Calendar is one of the most popular calendar applications in the Google Play store.

        The program features a wide range of configuration options, with many design alternatives. You can adjust display mode to your needs and view calendar entries sorted by month, week, or day (by hours). It is convenient for quickly picking the desired date, using task bars, and setting reminders.

        Apart from its ordinary information storing function, this application can be a special cloud service, Jorte Cloud, allowing you to synchronize calendars, schedules, and task lists on multiple devices. The application also supports data importing from Google Calendar.

        For those paying attention to the program design, there is also Jorte Store, where you can buy styles and icons to personalize the calendar. This feature makes Jorte is one of the brightest calendar applications.

        A basic version of the app is free of charge, so if you do not want to spend money on a calendar application, it is a good option.

        Available for iOS and Android

        4. Business Calendar

          Business Calendar is geared towards people who use their calendar for work purposes and business task planning. It offers different modes with wide configuration capabilities.

          The application gives a default view mode by months, and events can be marked in different colors. Display modes/ sorting can be adjusted to your needs (by month, day, year, or events).

          You can also set a multi-day viewing mode to see how things look for the next few days. Scrolling up and down moves you by month, and if you check a few days, they will be shown in a more detailed form.

          The day display mode offers hourly scheduling, and the schedule mode provides a detailed schedule for a single event.

          Business Calendar is a great tool for planning/ scheduling cases, tasks, and events. There is a support for recurring events, which can be set up in just a few clicks.

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          Having purchased software, you can use it to import and export other calendars, delete, copy, or move several events at the same time.

          Android Business Calendar application may seem somewhat chaotic, but it works fine and is easy to work with if you play with it for a while.

          A full version of the application is available for $4.99, but you can also find a free version for the app test drive.

          Available for Android

          5. aCalendar

            aCalendar opens our collection of top 10 calendar applications available on the market today. With its appealing design, easy navigation, and great functionality, it is one of the most popular calendar apps in our list.

            Some of extra functions include color schemes for each case type (48 colors to choose from), different types of demonstrations, different widgets, moon phases, and much more.

            Taking into account it functionality, aCalendar is a reliable calendar application that has an easy-to-navigate interface with three display options. Scrolling from side to side allows you to switch between the display modes of the month, week and day.

            When scrolling down and up, you are moving through the calendar at intervals in accordance with the selected display mode.

            Apart from its time planning feature, aCalendar synchronizes photos from contact lists or social networks to remind you about birthdays, anniversaries, or any other special dates.

            The program also supports data transfer through NFC and full-screen widgets, which eases your work with any data.

            The program is available for free, but you can also get even more features if you buy the extended version of software for $4.99.

            Available for Android

            6. DigiCal Calendar

              DigiCal Calendar is very similar to Cal Calendar in the fact that the application focuses on design more than on its functionality. However, this doesn’t mean that the application doesn’t serve the purpose.

              With this calendar application, you can synchronize all your calendars and view them in different ways.

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              Along with the basic functions, this program comes with support for Google Calendar, Outlook, and includes some unique and interesting features. You can match keywords to the image or set up a dark theme.

              The app can even show you the weather forecast for three days. There are many other features that deserve the attention of people who really like to use calendar applications.

              Available for Android

              7. SolCalendar

                SolCalendar can be called a universal application. It claims to be an all-in-one digital solution having a basic calendar functionality combined with some other advanced features, such as weather forecast for a specific day.

                The application supports Google Calendar, as well as tasks, widgets, lunar calendar and even Foursquare.

                Those searching for a calendar application to cover just everything in its functionality, SolCalendar is a program to consider. There are a lot of interesting things in this application; the program does an excellent job working in “all-in-one” mode.

                Test SolCalendar – the application is available for free. You can test it out without purchasing the service.

                Available for Android

                8. Calendar

                  Calendar is a relatively new app. It works as a web app and for both iOS and Android devices. It is an intelligent app that learns your contacts, schedule and tasks. It also helps you schedule and arrange meetings according to your available time slots.

                  A good thing about Calendar is that it allows you to sync up with other calendars you use such as Apple Calendar and Google Calendar. And so you can manage all the calendars you have in one place.

                  Calendar also gives you analytics of your meetings, giving you a clear picture on how you can improve your time management.

                  Available for Desktop, iOS and Android

                  9. Today Calendar

                    Today Calendar is one of the most hip and edgy calendars in our list. The solution was one of the first ones that really embraced Material Design and remains one of the few that adhere to the neat style.

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                    The calendar application offers bold colors, simple controls, and great functionality. This is not as heavy an application as many others; it will not eat all the memory of your device.

                    If you are not searching for something complicated and over-functional, Today Calendar is what you need. You can always test the application before paying for it – the program is available for free.

                    Available for Android

                    10. Calendar Widget: Month

                      Sometimes people do not need a heap of calendar applications. They would prefer to have one efficient calendar widget.

                      Calendar Widget: Month perfectly fills this niche and meets all the needs of a modern user. It has some features of an ordinary calendar, but the real great thing about this software is that it has 80 or more themes in its library.

                      The design of the application is great; the themes are perfectly tuned. There are options for almost any theme of your smartphone. The only drawback is the fact that the widget memory is not too large, and you should be ready for it.

                      This simple calendar widget was created in the image and semblance of widgets from Yahoo. The widget window displays one calendar month with the ability to go to the previous and move to the next one.

                      If you need a simple and affordable calendar to plan your tasks and affairs for one month, this widget is ideal for you. Calendar Widget: Month is so simple that it does not even have Google Calendar support.

                      At the moment, it does not have the function of connecting any third-party calendars and services. Developers allow the possibility of introducing support for Google service as an addition to the widget, if users request to have this opportunity.

                      Available for Android

                      Our Verdict

                      Searching for the right application to manage your various calendars and plan your busy day can sometimes turn into a streak of obstacles.

                      Most of us need flexible applications that can be easily used to manage our tough schedule. The application should have all necessary time planning functions and be intuitive.

                      Stylish design and limitless compatibility also matter. It is not always easy to find such a program.

                      The above digital calendar solutions fall under the category “worth” of being used. They are modern, multifunctional, easy, and easy. Pick the one you like!

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                      Featured photo credit: Unsplash via unsplash.com

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