Many had hoped that the pandemic would be over before the leaves hit the ground this year. Unfortunately, COVID-19 as well as its economic impacts are still here. It has been a tough time for everyone, not least of all entrepreneurs. Many businesses have been struggling to keep their revenue up for months now and […]
For businesses in the financial services industry, cybersecurity has never been more important. While cloud computing is technically more secure than traditional on-premises solutions, it still has its own set of challenges. That’s why cloud security is so critical. A Quick Cloud Primer While you might have a vague idea of what it is, many […]
The world is changing rapidly today: 2020 has made us sit up, and the approach to career-building is not what we used to have. While artificial intelligence changes recruiting strategies and helps employers hire top talents, some candidates still consider a job search for a technical process. They believe it’s enough to write a resume, […]
Most of us tend to get into a generous mood around the holidays. Something about the season makes us think about others a bit more and want to make their lives a little better. But how do you choose legit charities (and avoid scams) this holiday season? Today we’re going to teach you some of […]
Investing usually involves leveraging historical data. You check prior reports, evaluate spreadsheets, and come to a satisfactory conclusion. Piece of cake. But, what happens when you’re trying to figure out where to put your money during COVID-19? Pandemics happen infrequently, which is a good thing. However, it also means you have little information to gauge […]
Cutting costs, pivoting hard, and staying optimistic have become the guiding mantras for COVID-hit businesses around the nation. According to Wells Fargo Small Business Index’s third quarter results, around a third of owners think they’ll need at least a year to financially recover. Here are five aspects of business to re-evaluate to save money. The […]
Earning and enhancing profits is the principal aim of every business organization. In fact, having the ability to earn and enhance your profits is the prime reason for every business organization’s establishment. As an organizational leader, your brain is often engrossed in thinking about ways to enhance your company’s profits. Here is how to accomplish a […]
As the leaders of their companies’ finance-related teams, chief financial officers (CFOs) were among the first to notice and face the effects of the COVID-19 pandemic. These professionals are certainly not the only people involved with helping organizations bounce back. However, CFO’s play vital roles in decision-making and plan implementation for financial. Here are five […]
Passive income gets a lot of attention these days, and it exists as a dream for many—both as a way to increase your total revenue and build wealth faster and as a way to fund your retirement. The idea behind it is simple. Create income sources that don’t require much (if any) ongoing upkeep and […]
If you’re like most people, you’re probably looking for ways to generate additional streams of income. No matter how good the economy is doing, everyone could always use more cash. Although it’s not for everyone, becoming a certified public accountant (CPA) is a reliable way to generate income. CPAs provide a variety of valuable financial […]
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.