The most successful business owners are always thinking ahead. If you are a new business owner, strategizing about mission statements, corporate culture and business plans are things you would be smart to address early on. More seasoned business owners can benefit from articles on everything from setting client expectations to creating a niche for your small business
Research shows that even a small rise of just 5% in customer retention can result in profitability increases anywhere from 25% to 95%. The same study revealed that the acquisition of new customers is between five and twenty-five times more costly in terms of ROI than the cost of investment when it comes to retaining a consumer. Repeat buyers are more likely to spend more on … [Read more...]
Despite increasing technological advances, human capital remains one of the most important assets of any workplace. Profitability and productivity are, in large part, dependent on employees who are engaged, motivated to work, and happy in their careers. In workplaces where the environment is one of tension and stress, the cost to the company is staggering. In the United … [Read more...]
Business isn’t what it used to be. With so many ways to connect with consumers worldwide and an entirely new market of competition, the necessity to stay ahead of the pack and find innovative ways to succeed is more imperative than ever before. Many old school businesses, especially those established in the decades prior to the big internet boom, were founded on models that … [Read more...]
Disputes are a part of life, which means that they are a part of business. Simple mathematics can easily prove that the more people are involved with a business, the more likelihood there is that there will be a dispute between two or more of them. In an ideal world, these disputes would be solved by what could be termed informal means, such as a chat over coffee, and in the … [Read more...]
If you’re thinking about starting a business or a blog, you might want to consider purchasing an established website that already has a great design and following. If you make a careful purchasing decision, it can be a great investment. However, it’s important to make smart decision as you browse for the right website. For instance, if you want to purchase a site that will do … [Read more...]
Choosing whether or not to expand your small business is always a big decision. It can be risky, but if the risk pays off, it can mean higher revenues and more profit for your small business. For one small replacement window company, BM Windows in San Diego, expanding their business looked a little different than they had originally anticipated. For many years, BM Windows … [Read more...]
Paperwork (or these days its digital counterpart), is the bane of every small business owner, yet it is a requirement in order to stay on the right side of the law. The good news is that although laws can and do change, those changes tend to be in the nature of incremental developments which revolve around one or two common themes. In the case of health and safety in the … [Read more...]
When it comes to starting up a business you really need to think hard about your branding and your domain name. This is what will tell your customers who you are and what you are about. You need it to be smart, to the point and most of all, to portray you as a professional entity. When choosing your name, you need to be careful of other businesses, you don't want a trademark … [Read more...]
The average workplace is much more than a place to earn money. Workplaces are also social centers for employees to interact with one another as well as customers. Sadly, most workers spend a considerable amount of time socializing, surfing the web, and using their smartphone while on the clock. Some employees lack engagement with their work. Others struggle to be productive in … [Read more...]
Any good businessperson, in any future venture, tries to learn from their past mistakes. This is especially true if your online business has either struggled or simply could not get off the ground. Even when business owners have the strongest business plans and the best intentions, e-commerce sites can still fail. Here are some common reasons why e-commerce businesses do not … [Read more...]
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