There are two ways to increase the revenue for your small business: increase sales or reduce expenses. Increasing sales is always challenging as it needs heaps of marketing budget. This is one reason why most small businesses prefer cutting cost whenever they want to increase revenue quickly. According to McKinsey Quarterly survey, 79% of businesses have cut costs in response to economic crisis. Continue reading 5 Cost Cutting Ideas for Small Businesses
When you think about business process mapping, the general impression is that it’s only applicable to large organisations. On the contrary, small business enterprises can benefit greatly from business process mapping concepts. The trick is to keep it simple and focus on the difficult details later on. This article aims to help you get through the hard part, how to get started. Continue reading Process Mapping Basics for Small Business Enterprises
If you are thinking about starting a home-based business, one career you might want to explore is Medical Billing and Coding. While you will need to study to be certified in this career, the length of an online program is short in duration and codes are standardized so that you can draw clients from literally anywhere in the country. In other words, you are not limited to your own city or state.
In today’s digital age, no industry has been hit quite as hard as the high street retail outlets. With online shopping being all the rage, it’s not difficult to see why more and more people are opting to use the Internet instead of going to their favourite stores. From clothing and accessories to electronic equipment, almost everything can be purchased via the World Wide Web with very little effort. Continue reading High Street Retail Outlets: What Makes a Successful Shop in This Day and Age?
As a business owner or newly established company, it is essential to keep accurate records of your business expenses. Of course, one of the main reasons why you must adhere to this is that law requires it, but there are also others reasons that can help your organization if you keep up-to-date information. For general purposes, record keeping assists in reporting specific information to the government about how you run your business. Areas such as how much profit you make, how many staff you employ and where you operate from are essential elements in reporting your business information. Although it might feel like an endless administrative task, effective record keeping can help your business in a number of ways. Continue reading Reasons Why It Is Important to Keep Accurate Business Records
You’ve no doubt read the post-mortems on many a failed startup. Bootstrapping a company in this economy can be brutal, and staying in business is just as challenging: even startups with billions on hand can fail.
How can you keep from becoming a statistic? Luck and economic circumstances will always play a part in the fortune of any business — but there are steps you can take to make the most of what you have. Continue reading 10 Tips for Bootstrapping Your Business
If you’re attempting to establish a reputation for your business, there are an incredible number of details that you have to pay attention to. Some are more important than others, however. And that’s why you have to make a list of what these particular action items are, and keep them as high priorities throughout your business endeavors. Continue reading Vital Details To Establish Your Retail Business’s Reputation
As an entrepreneur running a startup, making a good impression definitely plays an important role in facilitating the growth of the business. At the heart of this, professionalism forms the core attribute that a business must exhibit. Failure to properly convey this attribute in its service delivery almost certainly ruins its chances of surviving in the brutally competitive business world.
Continue reading Professionalism is a Must: 5 Things Entrepreneurs Must Do to Make a Good Impression
Everyone dreams of being successful and making it in the business world. You may even think that you could make it on the next season of the Apprentice; however, the reality could be slightly (or vastly!) different. Remember, if you want to get ahead in business then you won’t only be able to rely on your acute business acumen and mathematical skills, you will also need sound communications skills, a good ear and the ability to spot new trends before your competitors do. So, you feel like you are stuck in your current position and need a boost to help you get ahead, then these essential hacks will make sure that you can take the next step on your business career ladder.
- Women run only 14% business enterprises in India
- Lack of education and patriarchal issues are challenges
- Women also find it difficult to raise credit for their business
- Collateral-free loans, workshops can make a positive change
It matters not whether you’re managing a startup, a medium-sized business or a business that’s hitting the peaks in your market, there are always measures that can be taken to ensure steady growth is not destabilized in the rough seas of the business world. Many problems are pitfalls that businesses stumble awkwardly over are foreseeable and preventable, but they just require that bit more time and capital to prevent against. In this article, you’ll find some of the most important areas of your business to protect so that they are robust enough to endure when times get tough.
Continue reading How to Protect Your Business and Ensure Growth
While you might like to think that your business partnership will be immune to things that can affect your other personal relationships, many business partners find that regardless of how much they love their business and want to find success, they just can’t keep working with their previous business partner anymore. Continue reading 3 Tips for Dissolving A Business Partnership
Organizing your business well is an integral part of starting a new company. It is necessary to choose the right equipment, technology, and services. In our haste to get started, we may not always pause long enough to think about how we are going to run the business. Continue reading 4 Essential Things Your Small Business Will Need
If you’ve never run a business but you’re determined to get one started so you could be your own boss and make your dreams a reality, you need to be ready to face new challenges. And with those challenges, you may not always know what to do. So, keep reading to learn about a few of the most common mistakes that new business owners make. These are big mistakes that could cost a new business owner a lot of money, so do your best to avoid them. Continue reading The Biggest Mistakes That New Business Owners Make
Whether you are a first-timer or an expert in the business field, you still need a lot of things to keep in mind. If you want to excel in your chosen venture, then you have to do all your best and see to it that you work your way up. There might be full of struggles along the way, but you can make it with faith, patience, focus, and hard work. Continue reading Top 4 Factors to Consider When Putting Up a Business
“Life isn’t about finding yourself. Life is about creating yourself.”
If you are someone who holds similar thoughts and believe in seizing the opportunities that lay ahead of you, The Entrepreneurship Summit 2018 is where you should head to on 27th January 2018. Continue reading For all things entrepreneurial, E-Summit 2018 is the place to be at!
“I don’t have the budget for CRM.”
“CRM – No way, its only for large enterprises.”
“How can I integrate CRM when my small business is just in the development phase?”
Every business enters a significant upwards growth curve at some point and then begins to notice things tapering off. For business owners this is a scary prospect because you never know if the slowing growth will be a sustainable pattern which could eventually lead to a reduction in revenues or if it’s a short-term lack of interest in the product offering.
If you’re like most startup entrepreneurs or small business owners, you started your business on a shoestring budget, and are trying to remain in operation as frugally as possible. You might not draw much of a salary for yourself, but at the same time, you’re too busy to start another full-time job.
Most small businesses start out with working capital that is sourced from personal savings and angel investors, or loans from family or friends. Trade credit is often relied upon to expand the business in its early stages, but this practical for only certain types of retail businesses. Continue reading Working Capital Options for Small Businesses