5 Tips to Successfully Enter New Markets for Business Growth

Global Markets
All businesses are faced with the prospect of finding ways to enter new markets. Having conquered a local market, looking at extending a business’s reach is often the only room for growth. Yet, if a product or solution you provide in your local market is well accepted, there is no guarantee that other markets will warm to it so easily. It pays to research the market you are looking to enter and to be consumer-centric, but what does that really mean? Here are a few ideas to get you going.

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What do You Need to Know before Starting an Engineering Business

Engineering
Engineering is one of the most reliable, thriving industries out there. No matter how the economy is performing, there will always be a demand for good engineers. We will always continue to build higher, explore further, and invent new technologies. Engineers are at the heart of these industries, and there’s a secure, exciting future ahead. However, not all of us fit the mold for working at a traditional engineering firm.

Some engineers also have an entrepreneurial heart. After all, the engineers are the world’s best inventors. So, how does an engineer start building a business? How do they compete with the biggest companies in the industry? In this post, we’ll dig into the specifics of starting an engineering company. Think you’ve got what it takes?

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3 Cardinal Business Investment Rules You Must Not Break

Investment
There are many different aspects to think about when it comes to investing your business profits. Before you jump into investing your hard earned money you should think about risks associated with those investments and ensure you don’t end up losing all the profit, and some. It helps to establish certain rules for yourself that you can follow and ensure you don’t deviate too much from them. These rules can be different for different people depending on their unique situation and risk tolerance. Below we provide some common rules that you can use as a guide to come up with your own.

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Everything You Wanted to Know about Peer to Peer Currency Exchange

http://www.dreamstime.com/-image2509668

http://www.dreamstime.com/-image2509668


For many people currency exchange is like dark matter. They do not understand how it works and some don’t even to know where to go to exchange currency. They simply do not have frequent need for it. Majority of the people end up exchanging their currency at the airport when they land in the foreign country. While this is very convenient they end up paying high commission fee for it. Recently a new trend has emerged that bypasses these middlemen. It is called peer to peer exchange and it is not only convenient, but also saves you significant money in fees. So what is peer to peer currency exchange and how does it work?

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5 Ways to Diversify Your Business for Greater Profit

make your choice

make your choice


In today’s fast-paced business world, diversification is key if you want to remain ahead of the competition and increase your net income. Simply remaining within a single product or service can have a negative impact on the ability for your business to survive. Many large organizations are also seeing this potential threat and merging with other businesses or expanding their own in order to meet the demands of society. So how can you diversify your business without stretching yourself too thin. There are number of avenues to do that. Here are top 5 ways in which you can accomplish diversification:

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Maximize Revenue with Cross Selling and Upselling

cross-selling
It is estimated that it costs 6-7 more to acquire new customer than to keep the existing customer. Yet many small business owners spend much of their time, money and energy in chasing new customers. A better strategy is to make existing customers buy more from you. Think about it. Your current customers already love your products and services. The fact that they are sticking with you means that they are willing to buy more if you can offer it with the right value proposition. This is how Amazon has built a an online empire to sell everything and anything a customer would want. Cross selling and upselling are classic techniques business owners can employ to maximize their revenue from existing customers. Here is an Infographic that shows how you can develop a roadmap to succeed in cross selling and upselling.

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Why Wholesaling is a Popular Retail Model for Business

Retail Store
Now that the world economy is on the mend and we’re finally back to growth levels of 2008, many people are looking to capitalise on the wealth that’s out there in people’s pockets. If your dream is to run your own retail store there’s only one form of retail that you should consider: wholesaling.

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Do You Know Who Your Competitors Are?

Do you know who your competitors are
It’s a very simple question. Let’s say you own and operate a restaurant that serves pizza and pasta at a busy corner of high traffic downtown area. Who do you think you are competing with? Is it another restaurant that also serves Italian food within ½ a mile of your restaurant? How about the McDonald’s across the street? Now, take it one step further. How about the store that sells ready-to-eat meals that people can take home when they don’t have time to cook? A relatively simple sounding question can open up multiple possibilities when you think hard. Taking a simplistic view of the competition can hurt your business in the short-term and put you out of business in the long-term.

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How to Run a Thriving Kiosk Business

How to Run a Thriving Kiosk Business
For aspiring entrepreneurs, the prevalence of large corporations and big-box chains can make starting a business seem like a daunting task. To combat these challenges, many businesspeople are finding great success by starting kiosk businesses instead. With low overhead costs and short-term lease commitments, starting a kiosk business is a great way to jump-start your career. As with all business pursuits, it’s important to know how to run your kiosk business in a way that will make it profitable. With these following five steps, you can create a thriving and profitable kiosk business.

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3 Reasons to Start Your Home Based Travel Agency

3 reasons to start home based travel agency
If you love traveling and have great organisational and personal skills, then working as a travel agent could be the perfect job for you. Even better, some of the most successful travel agents work independently from home. Working from home is a great way to operate in any industry, but the travel agency business is especially adept for people who love to work from the comfort of their own home. In case you need any more persuading, here are the three main reasons why you should start a home based travel agency.

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