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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5 Simple Techniques to Keep Your Employees Stress Free

5 simple techniques to keep your employees stress free
According to NHS, an estimated 10 million days are lost each year as a result of work related stress, depression and anxiety. This is despite businesses spending enormous amount of money on employee health care. Many small business owners feel like there is no end in sight to this vicious cycle of rising healthcare cost for their businesses, increasing stress for their employees and reducing productivity and profit resulting from both.

While the situation may appear dire at times, there are some simple and effective ways by which businesses can help their employees reduce daily stress, and in turn reduce their health care cost and improve business productivity. The key is to take these steps before the situation warrants immediate attention and make them part of your and employees’ daily routine. Below we provide some tips to do just that.

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5 Questions You Must Answer before Selling Overseas

5 questions you must answer before selling overseas
Globalization has made the world smaller than ever. Even small businesses are looking into exports and international trade to increase their customer base and sales. Technological advances have made it easier to find and serve global customers even for small business owners. This traditionally used to be the purview of large, multinational companies.

While it is easy to set up online shop, deliver orders via UPS and collect money via Paypal there are more nuances to exporting and selling to international customers. You need to answer number of questions before you can embark on that journey. Will your product be subject to special regulation? How will you handle warranty and product returns? Who will collect and pay taxes to foreign countries? Failing to answer these and many other questions can put you in the hot water and impact your business.

Here are 5 questions you can begin with to understand export and international trade:

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Will your Startup Succeed? Find out with the Investor Test

Will your startup succeed
Every new business owner launches his company with the hopes of making it into next  But how many can tell whether it will even be a fraction of that successful. Knowing ahead of time whether your company will be a grand success or a big bust can save business owner lot of anxious moments in life.

While there is no crystal ball that can provide foolproof prediction concerning your company’s fate, there exists a fairly reliable predictor. It is called the Investor Test, and when properly applied, it can provide an excellent gauge that tells you whether your business model will ultimately succeed. The Investor Test can also provide valuable insight into how to address potential problems or challenges that are likely to arise in the course of launching and establishing your new business.

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Launch Your Own Janitorial Supply Business with These Tips

Launch your own janitorial supplies business
If you are looking for a good business idea that you could set up with reasonably little time and effort, a janitorial supply business could be a great option. Janitorial supplies will always be in demand, no matter what happens to the economy. People will need to clean their homes and offices whether they like it or not.

So how could you go about setting up your own janitorial supply business? Here are a few things to consider.

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How to Revitalise Your Salon Business for Next-to-Nothing

How to revitalize your salon business
Get your salon equipment right, and the rest will follow. Of course, all stylists are looking to strike a balance between low cost salon equipment and high end products, but there doesn’t necessarily need to be a trade-off between the two.
You can save money and retain your favourite supplies – it’s possible! But it’s also possible to get creative with your boutique’s budget. Read on for more information on how to revitalise your salon for next-to-nothing.
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How to Reduce Real Estate Cost with Virtual Office

If the economic downturn of the last few years has taught anything to business owners it is to stay flexible and nimble. This applies to large corporations, but it has been even more critical for small business owners. After all, small businesses are working on a shoestring budget and do not have much room for error. I discussed the actions small business owners can take to become flexible in earlier post. I also showed a framework that can help you reduce costs in a systematic fashion. It involves looking at various costs and eliminate, rent, share and optimize them in that order.
For small business owners one of the biggest costs and impediments to being flexible is the real estate expense – either owned or leased. Lately, some entrepreneurs have come up with novel approach to help you reduce this cost, while still letting you keep the appearance of having full service office. Let’s look at how it works and what you can gain from it.
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Grow your Business by Treating Customers as Human Beings

What small business owners in his right mind would not treat his customers well if that leads to business growth. Yet there is no shortage of companies, large and small, that fail to take care of this basic fact resulting in disastrous results. Try calling customer center of your telephone company and see how long you have to wait before being able to talk to someone. Or go to a mall and study look at the expressions of customer service reps when talking to customers. How come very few of them bother to smile?
So, why is it important to treat customers properly?
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Use Scarcity Tactics to Increase Sales

What is the best way to get rid of products that are not selling well? You can reduce the price to generate more demand. But there is a way better way to manage it. It is known as scarcity principle and it works by making customers believe that the item will not be available if they wait longer. The technique works because of human psychology that makes people want something more when they are told they cannot have it. Fear of losing out on something can be a powerful motivator.
You don’t have to use this principle to sell only slow moving items. You can incorporate it in the normal marketing practice to increase the sales of regular products. If you look around you will notice that many businesses are already using this principle in various forms. QVC always shows how many items are left when promoting their products on television. The last few items are always sold very quickly. When a sales person tells us that the item is out of stock, but he can probably find it at another store your reaction will always be to order it so as not to miss out from that store too.
There are several approaches you can take to implement this scarcity principle in practice as shown below:
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How does Apple do it? Case Study on Premium Pricing

In the previous post we discussed how you can charge premium price without losing sales and still have customers love your products. No one does this as well as Apple, the most valuable company in the world by market value. Apple never competes on equal playing field with their competitors. They write their own rules and come up with innovative products that no one has dreamed off year after year. Their slogan explains how they have been able do this – Think Different! As a result Apple has been able to charge premium price for all its products and enjoy remarkable sales growth and margin for a long time.
What is their secret sauce? In this post we attempt to decipher their strategy by understanding how they apply the rules of premium pricing we described in the earlier post.
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