More and more people are going into business for themselves, and this means the market is getting increasingly competitive across a multitude of industries. With the internet at play, customers have more choices, but so do small businesses. Technology and being aware of the latest solutions is what helps us drive up productivity and maintain that competitive edge. Here are five important things your small business can’t contend without.
Funding is not everything and massive amounts thrown at a sinking ship won’t make a difference. Just ask the guys at Yik Yak, an anonymous chat service once valued at $400 million. On the other side of the spectrum is a very successful business that required no corporate funding for its operations, Lootcrate. It managed to raise a substantial amount within the business parameters itself, which saves it the drama of reporting figures to outside shareholders. Entrepreneurs, in Macedonia, and around the world, who would rather do things the bootstrap way should take a look at the following to get started.
If you’re going to make it in the startup world, you have to take every measure possible to survive. This may mean making the most of potential financing opportunities, bringing the right people on board to achieve success and many other possible pitfalls when you launch your startup that could hinder your progress.
No one ever said surviving and thriving in the startup world was going to be a walk in the park. On the contrary, new businesses face adversity every step of the way. Only strong and prepared companies end up becoming huge successes in their industry.
The implementation of the card surcharge ban earlier in January has angered many business owners. Retailers can no longer pass the cost of processing consumer credit and debit card transactions onto their customers, and are trying to absorb this extra cost. Mark Latham, director at Handepay, gives his insight on how UK businesses have been affected.
The card surcharge ban has divided the opinions of British retailers. Some think that the ban is damaging the profits of businesses, while those who didn’t add surcharges in the first place believe that it is part and parcel of running a company. From what I’ve seen, businesses are tackling the ban in a few different ways.
Collectively, businesses spend trillions of dollars each year on acquiring and upgrading their technology infrastructure. Enterprises rightfully see investing in technology as pivotal in realizing their goals.
Yet, technology is not a magic wand that companies can simply wave and all their operational challenges disappear. Every day, numerous businesses make catastrophic mistakes when buying new systems. Such costly errors can be avoided by paying attention to the following common pitfalls when it comes to technology acquisition.
All businesses are motivated by growth and financial success, but the way to these goals is rarely easy. There are plenty of variables to consider, hurdles to overcome, and requirements to meet before an organization can achieve its goals. In the current workplace, employee engagement plays a key role in creating the ideal conditions to accomplish them.
Employee engagement is not one item on a checklist. It’s a condition that every organization must strive to develop and maintain consistent efforts, but organizations are motivated by many factors to invest in this endeavor.
Read through the article to learn what these motivating factors are.