8 Key Components of a Successful Business

March 19, 2020


When it comes to starting a new business there are some startling facts out there. Fortune Magazine claims that 9 out of 10 startups ultimately fail and the US Census Board reports that despite more than 400,000 new businesses being founded each year, 470,000 actually die. With figures like that, you’d be forgiven for believing that getting into business is a near-impossible task, but sometimes the figures can be misleading.

In the above two examples, it is unclear as to what defines the ‘failure’ or ‘death’ of a business and both statistics also neglect to give a time frame. A better statistic to work from would be this, from the Small Business Administration that claims that 50% of businesses fail within their first year of business and of those that remain 66% of them will survive their first two years in business. Suddenly the facts seem more in the entrepreneur’s favor, but what are the key components of starting a successful business? How can you ensure that you end up a part of the favorable 66%? In this article, we’ll take a closer look at 8 of the key components of a successful business.

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Avoid These Common Mistakes When You Have Just Become a New Boss

March 12, 2020


Picture the scene. You’ve taken over an underperforming team and you can quickly see that processes are running completely out of control. Unfortunately, in a bid to bring your team up to speed, this can be a hugely challenging time. It’s never going to result in you becoming Mr. or Mrs. Popular and if you’re not careful, your team may even get worse.

Put simply, managing a new team is difficult. People don’t like change and this is something that you have to take into account.

Bearing this in mind, this article will take a look at some of the most common mistakes that managers of new teams make – and show what you can do to avoid said traps.

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How Can SMB Owners Deal With CCPA?

February 27, 2020


Governments across the world are increasingly finding the need to protect consumer data from misuse by businesses. Have you heard about the California Consumer Privacy Act (CCPA) of 2018?

CCPA is similar to the famous European Union’s GDPR, but there are variations in the definitions and the underlying rules. Let’s get familiar with the CCPA requirements and what it means for your small business.

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3 Good Reasons to Outsource in Your Small Business

February 26, 2020


There is a growing trend in businesses to outsource some functions. There are many reasons outsourcing is an excellent option for many companies, and the advances in technology make it a viable solution.

Many employers originally looked at outsourcing with suspicion. If owners didn’t have control over the individual team members by having them in their office, then how could the quality of work be monitored? There are also occasional reports in the media of companies outsourcing to get very cheap labor, which is unpopular with many customers.

If a company outsources correctly, however, it may not only be cost-effective, but produce better results than having a team of expensive employees on-site.

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4 Ways to Make Your Business More Efficient

February 26, 2020


Large or small, online or on the high street: making the most of your business potential is essential for you to succeed. You’ll always be searching for how you can make improvements to your venture, so you can achieve your goals – or even exceed your expectations.

However, are you as efficient as you could be? You might think what you do is the best way to achieve your ambitions, but it could be that there are processes that could be improved and save time. Here are some of the hints and tips that may help you to have a more efficient business.

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7 Ways to Encourage Overworked Employees to Take Breaks

February 25, 2020


Contrary to what you might assume, productivity isn’t a byproduct of just consistent hard work. It is the culmination of hard work, taking time off, exercising, resting and eating well. If any of those things are omitted from the equation, it would adversely impact employee productivity.

An overworked employee is more likely to make mistakes and develop high levels of stress. Moreover, overworking results in resentment towards coworkers and employers, low morale and dip in productivity.

As an employer, it’s your responsibility to encourage employees to take time off, reset and resume work with a fresh mind. In this post, we’re sharing the best ways to urge employees to take breaks.

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How to Improve Your Employee Team’s Dynamic

February 25, 2020


As a manager it is your job to ensure that everyone in your team is working well and achieving their potential. This means you have to work to improve their teamwork, your style of leadership, and project management. Without a robust strategy in place, disagreements can lead to arguments, rather than smart resolution. Work can stall, become frustrated, and generally hurt your business if it is not improved.

You need to know how to improve your team’s dynamic, which is why you should look into adopting these following strategies ASAP:

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6 Solid Tips to Grow Repeat Customer Base

February 25, 2020


Many businesses make the mistake of focusing on attracting new customers while all but ignoring the people who have already shown their interest by making a purchase. This is a huge mistake because, on average, it costs five times as much to attract a new customer than it does to retain an existing one. That means it makes sense to really focus on growing your base of repeat customers. How do you do that? Here are a few ideas.

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5 Steps to Running an eBook Business on Your Own

February 24, 2020


Do you have a passion for both writing and business? Do you want to transform that passion into a career? If so, it is simple to start an eBook business. You can do it without any startup costs. Write a book, create a cover, and upload it to Amazon’s Kindle Direct Publishing platform.

Yet while it is simple to start, it is the opposite when it comes to turning the business into a profitable one. The market is incredibly competitive, with Amazon hosting more than six million eBooks alone.

The difficulty to succeed is high. However, it is far from impossible – especially when armed with this quick guide. Below are five steps to running an eBook business all on your own:

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3 Important Considerations for Success for Business Owners

February 22, 2020


As the CEO of your own business, you are not only responsible for your dealings with clients, but also for the operations and practices of the people who work for you. While your bottom line and the ability to turn a profit are most important to your business, you also have to think about day-to-day operations, procedures, human resources, marketing and other aspects for short-term and long-term success.  Here are some important considerations.

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