In order to fulfill my mission as an entrepreneurship evangelist it is my duty to teach, motivate and inspire young people in developing countries to become entrepreneurs. In this article I bring you 15 free business intelligence tools for young entrepreneurs in developing countries that I trust you will find as helpful as I did on my entrepreneurial journey. I just wish I had tools like this and a mentor starting out 36 years ago.
1. DISC Profile - Discover What drives You
This one is my favorite tool. I have found it so helpful in discovering my personality traits that I never interview a potential job candidate before having them complete this online and emailing it to me a few days in advance.
If you want to know the real hold-backs to your success, and how to align with your own true personality traits for not only achievement but a life of fulfillment, take this free 15-minute online assessment right now!
This test is for both organizations that want to best integrate high-performance teams, and individuals who want to identify and maximize their personal strengths.
2. Entrepreneurial Potential Self-Assessment
This questionnaire includes 50 statements, and will take about 10 minutes to complete. There are no right or wrong answers. Your honest opinion is what counts.
For each statement, choose the number that best describes your opinion. Use the entire scale as much as possible, as always answering "2" or "3" will not allow you to fully benefit from this tool.
Once you have completed, your answers will be compiled, and you can evaluate your entrepreneurial traits, as concerns motivations, aptitudes and attitudes.
3. Free and Easy Website Assessment Tool
Start improving your website today!
Take the first step towards improving your site’s performance with this free and easy website assessment tool. Get professional feedback on up to 5 pages of your website* and receive a personalized PDF report instantly.
4. Financial Ratio Calculators
Financial ratios are a way to evaluate the performance of your business and identify potential problems. Each ratio informs you about factors such as the earning power, solvency, efficiency and debt load of your business.
Bankers will often make financial ratios a part of your loan agreement. For instance, you may have to keep your equity above a certain percentage of your debt, or your current assets above a certain percentage of your current liabilities. However, don’t wait until you are visiting your banker to evaluate your ratios. Ideally, you should review them monthly to keep on top of changing trends in your company.
5. Business Plan Template
This free business plan template is part of a kit put together to help you define who you are, describe your business, and document how you will be profitable.
Your business plan is not only a necessity when seeking financing for your project, it is a recognized management tool that outlines exactly what your company will do and how it plans to succeed.
6. Startup Cost Calculator
Calculate how much money you need to get your business up and running by totaling your capital costs and initial operating expenses.
7. SWOT Analysis
Make strategic decisions by assessing your business Strengths, Weaknesses, Opportunities and Threats (SWOT) using this template.
8. Sample Media Release
Follow the format and style of this Media Release to generate publicity for your small business. Send your own version to your media contacts.
9. Net Worth Calculator
Calculate your net worth by listing your Liabilities, and Assets in this Net Worth Calculator template.
10. Income Statement
Predict your income, expenses and profit for one fiscal year by completing this projected Income Statement. Include it in your Business Plan.
11. Break-even Analysis
Figure out how much you need to sell to Break Even by simply entering your figures. Two tabs, one for Service Businesses and one for Manufacturing Businesses.
12. Balance Sheet
Calculate your net worth by listing your Liabilities, Assets and Owner’s Equity in this Balance Sheet template.
13. Cash Flow Forcast
Manage your incoming and outgoing cash flow for 12 months with this handy spreadsheet. Add it to your Business Plan.
14. Non Disclosure Agreement
Worried about people stealing your business idea? Customize this Non-Disclosure Agreement (NDA) and ask anyone who reads your completed Business Plan to sign it.
15. Simple Steps for Growing your Business Workbook
Is this you? You want to grow your business, but … You’re constantly “putting out fires,” spending all your time dealing with urgent situations or emergencies in your business. You’re working long hours and getting burned out. You’re missing out on opportunities because you can’t respond to requests in time, can’t pursue leads or don’t have the resources you need to pursue potentially profitable activities.
You’re worried that you’re falling behind the competition. You start every day with the best intentions, but at the end of the day you feel like you haven’t accomplished any bigpicture goals. You’re so busy running your business day-to-day, you don’t have time to grow it. You’re not alone. This is a common situation for every small business owner.
The SCORE Business Needs Assessment helps you ascertain the current state of your business. It also helps you spot areas where you could improve and opportunities for growth.
In the rest of this workbook, we’ll cover the five key components of business growth:
- 1. Managing your time, people and resources
- 2. Marketing your business
- 3. Growing your sales
- 4. Managing your business finances
- 5. Managing operations