Startup founders are known for their passion for their startup idea, and for their passion to kill every competitor. Thus they often overlook the fact that their biggest growth opportunity may be a win-win collaboration with a serious competitor, known in the business as coopetition.
In 2013, Forbes published an article which revealed that a staggering 20% of Americans work from home. Consequently, if accurate, this means that approximately 30 million of us conduct business from outside the office.
Your business is only as good as the service you provided for your last customer. Inadequate inventory management can lead to delays or damaged products, leaving your customers dissatisfied and your opportunities for new business slim.
A trade secret is information that is valuable and unique to a business, and it is not accessible to people outside of the business. Federal and state law protects trade secrets, but business owners must follow a few rules to legally protect their documents.
One of the benefits that some employers include in their employee packages is assistance with continuing education or tuition reimbursement. While it is not part of most benefits packages, it does get a lot of attention when it is included.
If you are going to be first in a market, plan on a very long time from introduction to acceptance. Triple the time you estimate for the effort, and add four times the cost you estimated for marketing.
How safe is your small business office? When it comes to injuries at work, you might think of construction sites or other more hazardous workplaces, but in fact the Bureau of Labor Statistics estimates that around 76,000 office workers fall victim to disabling injuries each year.
It may not be as sexy, but starting a new business that builds on an existing technology or business model is usually less risky than introducing that ultimate new disruptive technology. There are many levels of innovation that go beyond copying someone else’s idea, but stop short of pushing the bleeding edge.
In order to attract and keep the best talent, small business owners have to offer more than just a good salary. Of all the benefits used to lure and retain quality employees, retirement plans are among the most valuable.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.