If cash flow is low and you’re struggling to make ends meet, you’ve probably considered bankruptcy. Although the notion of bankruptcy sounds scary and like it might spell the end for your small business, that’s not always the case. Understanding the fundamentals of bankruptcy and knowing how and when to file for your small business can help you through a difficult time. As a matter of fact, it can get you back on the road to success.
One of the things you hear all the time is that this is a “gig economy.” What this means is that there are many people who freelance, refusing to limit their skills to one employer, instead hiring themselves out on a per-job basis. This means that business owners often need to hire these freelancers to do some work for them, outsourcing work that can’t be performed in house. Yet there are disadvantages in relying on freelancers to perform tasks that might be ably handled by actual employees of the business. This is especially true if you fail to hire the in-house manpower and provide resources to tackle some of these tasks.
You rarely find something of great quality that’s also cheap. The same principle applies to hiring a workforce. While hiring trained professionals might a little too pricey for you, a good alternative would be hiring people and training them yourself. There are more ways to train personnel, however, than just sending them off to school. Online training is becoming a very popular solution, thanks to the advantages it offers.
In this post, we will be looking at some of the best ways to build an effective mattress-selling website. The last few years have witnessed a major change in shopping trends. That is, many people these days prefer to purchase most, if not all, of what they want and need online, and that includes mattresses. Therefore, taking your mattress-selling business online is in the best interests of both your customers and your business. Read here to find out ways to make your mattress-selling website better.
Benchmarking is no savior, but it can enable businesses to have keen insight that enables them to better prepare for their futures. It’s one piece of a larger strategy to keep organizations competitive and ahead of the game.
Many companies run their fleets manually without the help of fleet management software. If this is your company, then it’s time to think again about how you are managing your fleet vehicles. High quality fleet management software will provide your company with a much more efficient way of doing things. It will reduce your risks and increase returns as well. Keep reading to learn more about the top ways that fleet management software can help your company and increase your profitability.
Passive income is everyone’s ultimate dream, right? Having passive income is like having an income conveyor belt that allows you to make money for your business while you do absolutely nothing. However, achieving the reality is far from easy. Being able to rely on a passive income requires hard work upfront. There is no magic switch you can install on your business’s website. You’ll have to be willing to do the work in the beginning and keep things running with routine maintenance after that. That’s because if there’s a chink in the chain, that chain isn’t moving at optimum speed. And speed is essential to keep your business’s passive income running along. Here are a few methods to help you get started.
Accidents are among the worst things that can happen at your workplace. Things can be even worse if you are running a workplace that is especially dangerous. For example, if the work space you are running is in a warehouse, the likelihood of a workplace injury is higher than if you were running an office. That’s why it’s important to follow some business safety tips. Whenever there’s an accident in the workplace, there are indirect and direct costs to your business. Keep reading to educate yourself about these costs.
One of the ways that many small businesses can be flexible when it comes to spending is by relying on freelancers for some tasks. In this article, we discuss some of the pros and cons of using freelancers.
Many people who are starting up their own business know about the tax breaks they can take advantage of once the business is up and running. But it’s possible that these same entrepreneurs aren’t aware that there are tax deductions that are specific to the startup phases of a business. Tax laws are sympathetic to beginning businesses. That’s because they see certain expenditures during this time as investments for the future.
Today’s business owners face challenges in promoting their companies that are very different from the ones their parents and great-grandparents faced. Gone are the days of a few local competitors, to say nothing of the days of one general store in each town. What’s more, modern businesses’ many challenges almost all have something in common: the root of them is the increased amount of information available to the customer.
In 2015, Starbucks suffered a loss of more than $4 million because of a simple glitch that prevented sales during the course of a few hours on a busy day. The malfunction affected them internationally (between Canada and the USA), which multiplied their monetary loss. This loss was triggered by a simple and easily avoidable malfunction. That is, despite being such a large corporation, it is clear that they did not prioritize their point of sale (POS) system. Luckily, business owners have ways to grapple with and even anticipate such a glitch.
If you’re currently in the process of moving from a full-time job into becoming a freelancer, you’re probably experiencing changes in every aspect of your life. The way you file taxes is also changing. Instead of having taxes deducted from your income, you now must navigate paying taxes as a business owner. Most people have the same questions about getting started on paying freelancer taxes. Here are some of the most common ones.
Midwinter is the season for fun activities, so plan some enjoyable entertainments for your office staff during the holidays. While you might not have the budget for some of the activity ideas on this list, that’s okay. Get creative with the budget you do have, because it won’t be any fun if you have to be miserly about it.
When you think about your company, there is one big thing that’s probably at the front of your mind at all times—the safety of your employees. This is especially true if you work in a dangerous industry. We offer here some solid ways you can promote a culture of safety and wellness throughout your company.
Neglecting our health on the road to success is like throwing money down the drain and expecting to get rich. It just isn’t going to happen. Forgoing proper diet and sleep in the name of grinding out one more hour is a recipe for disaster, often because doing so makes you crash into a wall a lot sooner. However, there is one way to make sure we’re performing at our prime optimum levels, though, and that is through exercising. Here are 7 ways everyone (especially entrepreneurs) will benefit from regular exercise.
If you find yourself in a financial crisis, you might be feeling a bit panicked. You might not know how you’re going to get of this mess and find your way back to financial freedom. However, you should know that there are plenty of ways for you to deal with a financial crisis and get you and your business back up and running again. This doesn’t have to be the absolute end of your life or your business, if you take the proper steps to deal with the crisis. Keep reading to learn more about how to deal with a financial crisis and not let it overwhelm you.
Remote workers are quickly becoming a staple of modern companies. However, a distributed workforce raises concerns for firms that are dipping their toe in for the first time. How do you manage a team of individuals who are working in different parts of the world? This is a big change for companies that are used to supervising people who are working in the same room. Thankfully, modern technology is geared towards a modern workforce, and this includes distributed workers. Here’s a list of tools that makes managing a distant workforce relatively easier.
If your business has survived the startup phase and you have managed to create some form of stability for your administration, finances, and operations, then it’s time to focus on the future and start planning your expansion. Growth relies on designing an effective growth strategy that is ambitious yet reasonable. Different business models have different opportunities to grow. Selecting the right strategy for your organization requires the same amount of research and dedication to execution that you used in the startup phase.
Your Customer Relationship Management (CRM) system is one of the most vital components of your organization’s operations. For one thing, it provides valuable insights into a business’s departmental interactions. Additionally, it tracks customer information and provides reports on historical performances. This information allows you to strategically position your business for the future. Here is a list of some of the areas where you can optimize the capabilities and features of your CRM system to boost overall productivity.