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Startups Must Embrace “Coopetition” for Rapid Growth
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.
5 Ways to Keep Your Business Trade Secrets from the Competition
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.
5 Signs You Need to Revamp Your Inventory Management
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.
Help Your Employees Further Their Education
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.
Do You Really Want to be the First to Market?
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.
Is Your Office an Injury Waiting to Happen?
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.
Smart Entrepreneurs Don’t Need Disruptive Technology
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.
Preventing Fraud and Embezzlement
In the past year there have been numerous reports of fraud and embezzlement, mostly involving small businesses. These can be prevented by a few low cost controls.
Are Your Employees Keyed in on Retirement?
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.
Top 10 Benefits of Providing Exceptional Nonprofit Customer Service
Nonprofit customer service. What’s that? Well, the same as it is in the business world, except that most nonprofit “customers” represent stakeholders like donors, volunteers, members, and clients.
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