Running one business can be hard enough. That said, could you ever see yourself overseeing two or three businesses at the same time? I have a few entrepreneur friends to run multiple businesses. Recently, I got a new type of business and was wondering how I’d find the time, energy, and structure to work on […]
A financially secure small business. Does it sound like an oxymoron? It doesn’t have to be if you set yourself up right and if you practice good financial business habits. There is a wealth of knowledge on the internet from entrepreneurs at all levels, and there are more tools than ever before to help new […]
How did you develop your current business model? Have you ever thought about changing it? This is a question more and more entrepreneurs should be asking themselves. Entrepreneurship is a journey and it’s constantly changing as you evolve and shift your focus. That said, the business model you started with may not be the best […]
It’s sort of an inevitability- when you run your own business, you’ll hit a business slump at some point. Whether it’s getting dropped by clients, dealing with burnout, or having business systems fail you, something will happen that causes a downward spiral. It happens to all of us, so luckily there’s plenty of information out […]
Do you need to bring some attention to your business? Getting media mentions is a way to build brand awareness. Pitching and landing media mentions can feel like a daunting, intimidating and expensive task. But it can be done even if you don’t have the budget to hire a publicist. Here are a few steps […]
Take a look 2019’s most anticipated American IPOs, and you’ll notice something: They’re almost all cloud-based software companies. IPO-worthy companies like Uber, Airbnb, Lyft, Pinterest, Slack, Robinhood, and more are planning to go public before year’s end. With the exception of jeans maker, Levi Strauss, the list of upcoming IPO’s is a who’s who of top […]
Diversifying your income streams is one of the main keys to succeeding in online business. When money is coming from multiple sources, you can rest easy knowing you’ll have money to pay the bills when one income stream dries up. Affiliate marketing is sharing third-party services or products with your following and making a commission […]
Side hustling is a great way to make extra money. The more successful your side hustle is, the more motivated you are to continue, right? Not exactly. There are many other factors that contribute to the longevity of your side hustle. Here’s how you can tell how long you should side hustle for. Set a […]
In early December, an article went viral that said that the key to success is for people to wake up at 4am. The article stated that waking up so early meant there were fewer distractions at 4am, plus Tim Cook and Michelle Obama do it. If Obama does it, so should you! Only, what time someone […]
Business owners deal with the constant pressure of always being ‘on’ and actively doing work to improve the company’s standing. If you run a seasonal business, this is not always the case. The other day, my husband was chatting with our neighbor who is a landscaper. Winters are often brutal in our area so we […]
Starting your own business has never been easier given the availability of investors and the interest of so many in the startup space to help create the next "big thing" or to be behind a disruptive product or service that really shakes up the marketplace. However, when it comes to the actual work involved in tackling all aspects of a business, including its functions like sales and marketing, accounting and finance, human resources, information technology and more, it becomes considerably more challenging for a small business owner or founder.
With statistics that show up to 90% of new businesses failing soon after launch, it's critical to know how each of the functions pertaining to running a business, can work the most efficiently, including how to budget appropriately to sustain your business through all types of economic cycles. However, so many business owners admit that they do not have much knowledge and very little experience about most aspects of running a business and they tend to "wing it" and figure it out as they go. The problem is that this approach to running a business is the very reason why so many fail.
A better strategy is to invest time, energy and effort in a continual learning process that helps build knowledge and skills across all aspects of your business. Even if you do not handle all these functions yourself but have team members or outsourced talent for some of the more technical roles, it is still good to familiarize yourself with the issues. Knowing and understanding trends, technology and opportunities that impact all functions of your business will help you to better shape your business decisions. Additionally, this strategy of ongoing learning can help you identify those areas in your business that could benefit from additional technology or tools that add efficiency and help you maximize the time spent on many non-revenue tasks.
We have dedicated a category of our Due.com blog posts to providing business tips to help you enhance your working knowledge and skills across all aspects of your business and help you make more informed decisions that will speed growth, revenues, brand reputation and profitability. These business tips include such topics as:
- Marketing strategies, including social media platforms, creativity and messaging, content marketing strategies, branding and how to promote your company online.
- Financial planning, such as emergency funds, retirement accounts, budgets, invoicing, how to handle clients that haven't paid, why you should accept credit cards and how to finance business expansion.
- HR issues like whether to hire employees or freelancers, training, motivation to retain talent, how to find a business partner, where to find outsource talent and tax issues related to employees and freelancers.
- Productivity tips like how to manage your time, tools that maximize what you can get done, and how to effectively manage a project.
- Mindset strategies, including whether you are a freelancer or an entrepreneur, how quickly to expand your business, and how to build a business around your lifestyle.
These are just some of the dozens of articles now available in this subject category that are designed to help you get the most out of your business for the investment of time and money that you have put into it. Not only will you learn more about how an efficient, successful business works, but you will also be able to create a more effective strategy to ensure your business doesn't become just another unwanted statistic. We want to help you succeed.