While the omicron variant surge is subsiding, researchers are keeping a close eye on a subvariant known as BA.2. This variant is more transmissible, but its rapid spread overseas also coincides with a drop in protection measures in Europe and low rates of effective immunization in Hong Kong. However, in the US, this variant may not result in a new surge because vaccines and boosters plus antibodies from previous infections… Read more
Good news for small business owners: according to the US Small Business Administration, nearly 80% of small businesses survive their first year. However, that number begins to drop as time rolls on. Only half of small businesses pass the five year mark, and a mere third celebrate their tenth anniversary. Taking steps to create a good foundation in the early days of your business is essential for a sustainable and… Read more
Advertising is an essential component of success for any business. Proper advertising ensures more sales, but if you choose the wrong options, it can be a very expensive proposition. Let’s look at five ways you can reduce your business’s advertising expenditure without affecting your results. Referrals A referral program encourages your current customers to send their friends to your site, and to earn rewards for their efforts. It’s a great… Read more
Small businesses can grow in boom times as well as periods of difficulty by working smarter and taking advantage of opportunities. Put these following effective tips into practise to help grow your business. 1. Utilise new technology Modern technology can save you time, improve productivity and reduce your operational costs. Make use of Facebook, Twitter, Google+ and other social media tools to market your business. Dropbox is a cloud-based service… Read more
Everyone would like to become a better investor. People get into a twist trying this method and that only to abandon them for the next new thing. There’s an easier way, and it involves following a few simple suggestions. Stop watching the market and start your watching stocks Just because the market is frothy doesn’t mean your stock’s price is. Just because the market is sinking doesn’t mean your stock… Read more
Debt can be a crippling problem for small businesses wanting to grow or just break-even during difficult times. By reducing debt you’ll improve the value of your business, its financial situation, and its ability to continue operating into the future. Assess your debt situation Take a detailed look at all of your debts – both current and long term. Evaluate which ones are more urgent and which can be parked… Read more
The success of any business, large or small, depends largely on nurturing an efficient, productive workplace. While improving employee productivity should be always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done. Below are some of the most effective methods of managing a productive, happy workplace while increasing output. Establish Accountability Productivity depends on every employee understanding that the… Read more
Every businessperson knows that not all customers are created equal. Some customers are loyal, while others will stray if they’re offered a slightly lower price elsewhere. Some clients are demanding, while others only call when they wish to place an order. Every business must deal with a variety of customers. But there are certain types of customers who do more harm than good to your business – they drain your… Read more
Online marketing tools make it inexpensive and easy to promote your events online. If you want to expand your business and offer webinars or offline events, these eight tools will create online buzz about your event to a worldwide audience. When interacting with people on the Internet, remember to always act in a polite and courteous manner. Don’t spam invitations or promotions about your event 24, 7. Use common sense… Read more
When it comes to managing your finances, there are two professions that can help you understand your numbers, and ensure you have a plan to get to where you want to be. Accountants and financial planners can both play an important role in your financial success, but there are some important differences between the two. For any successful business, it’s advisable to have both an accountant and a financial planner… Read more
New Year resolutions – we’ve all made them, and broken them − often before the end of January. There’s something about New Year celebrations that makes us yearn for a fresh start, but is there a way to make that desire for change more permanent? Here’s a twist that can make your resolutions more durable, more beneficial and less prone to that embarrassing quick fade. Align goals to your business… Read more
The beginning of a new year is the perfect time to reflect on what’s working in your business, and to set some goals for the year ahead. As you kick back over the holidays, set aside some time to think about your recent achievements, and any current challenges. Think about your work style, too. If you’re like many small business owners, you may be guilty of bad habits that can… Read more
With the holiday season nearly upon us, it’s wise to set aside some time to tie up loose ends so you can start the new year fresh, organized, and ready to roll. As you prioritize “must-do’s” before taking some well-earned time off, consider adding these end-of-year business activities to your list. Connect with your clientsThe holidays are a time of shared goodwill—a natural time to reach out to your customers… Read more
As a business owner it’s important to take time away from work. But worrying about whether staff are meeting deadlines and suppliers are happy translates to more stress and less time enjoying your holiday. With a little staff communication and planning beforehand, you needn’t worry that your business won’t be able to cope in your absence. If you really can’t switch off from work mode or something urgent pops up,… Read more
These days, businesses have plenty of options when it comes to choosing software. There are hundreds of developers creating and perfecting new products designed to help you more effectively and efficiently run your business. With so many options available, it’s important to focus so you know where to start looking and how to make the best decision. Here are some factors to keep in mind when you choose software for… Read more
These days, businesses have plenty of options when it comes to choosing software. There are hundreds of developers creating and perfecting new products designed to help you more effectively and efficiently run your business. With so many options available, it’s important to focus so you know where to start looking and how to make the best decision. Here are some factors to keep in mind when you choose software for… Read more
Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many business owners are aware that financial planning is important, it is often overlooked. Without a… Read more
You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they must keep working harder—taking on more responsibilities and working longer hours—to be successful. It makes sense, because you’re responsible for your business, but that route leads to work overload and… Read more
If you’re looking for people to invest in your business, be prepared to answer some important questions. Investors look for smart investment opportunities—that means they want to find out as much as they can about you and your business before they make a decision about whether or not to invest with you. It’s vital to have well thought-out answers to investors’ questions. Give them evidence you’ve thoroughly examined your business… Read more
There’s a lot of data supporting the idea that it’s less costly, easier and more efficient to encourage repeat customers than bring in new ones. Among the stats Hubspot lists are that a 5% increase in customer retention is responsible for more than 25% increase in profit; repeat customers are 9 times more likely to convert than first-time visitors; and a 2% increase in customer retention has a similar impact… Read more