When expanding on your business idea, the most important thing you need to consider is how to satisfy the needs of your potential customers. To satisfy customer needs, you must provide value to them. Of course, you will have a tough time providing value to your customers without a proper business model.
A good business model should address the following questions:
➢ What value am I providing?
➢ How will I generate revenue by providing it?
➢ How will I deliver it to my customers?
➢ How will I make a profit from my services?
A couple of these questions…
As cities open up and workers return to their offices, prepping for life post-pandemic, it is necessary as an entrepreneur to create a fresh, workable strategy to help drive your business.
However, it is one thing to create a strategy at this time, and it is quite another to understand how to make it work for you.
E-commerce is a thriving business in the business world. Online store sales are expected to increase steadily this decade. There are lots of opportunities for business owners in the e-commerce industry to succeed.
As an e-commerce business owner, it is ideal for you to know the opportunities available for you and your business, but it is equally vital that you know and understand the business models that work in e-commerce.
There is plenty to be excited about when looking at the latest e-commerce trends. At the same time, unless you know and understand the fundamentals, you risk hitting a profitability…
Regardless of what your opinion of COVID-19 or the evolving and everchanging science around its health risks, its effects on the economy and business have been unmistakable. While some of these changes are likely temporary, many are going to be with us either permanently or for the long-term. COVID has been like rocket fuel for some existing trends, and at the same time, has forced entirely new trends unique to it, which are unlikely to be reversed or even slowed. In just a few short months, COVID has exacted years of change to consumers, businesses, and our daily lives.
Keeping Your Team Motivated, Engaged, and Connected in the Remote Office
The COVID-19 pandemic has had dramatic impact on work, particularly in the way that it has moved the workforce out of the physical office and forced companies to create virtual work environments or otherwise accommodate employees working by remote. While at first blush that may appear to be simple enough, it is quite challenging not only logistically, but also in terms of maintaining productivity and morale.
Working from home comes with many benefits, but also brings with it physical isolation — from your coworkers, from your bosses, from your…
Once there is a concept in place, entrepreneurs and development teams must properly define and develop an actual product. That is not always an easy task. In fact, defining exactly the first iteration of a product can be quite challenging and require a number of steps.
Specifically, the business has to move from concept to a minimum viable product or MVP. “A minimum viable product (MVP) is a version of a product with just enough features to satisfy early customers and provide feedback for future product development.” This is the most pared down version of the product which is still…
Every day, entrepreneurs across the globe are busy trying to develop, build, and ultimately, market and sell new products and services that they believe consumers and businesses need and want. One of the premier challenges, and one which does not receive nearly enough attention by many entrepreneurs, is what exactly is the product: What exactly does it do? What exact features does it have? What is that minimum product that is going to be marketable? In short, what is the minimum viable product?
The Minimum Viable Product
The capital structure of a company is potentially one of the most important choices a founders, owners and managers make regarding a business. At the same time, it is one of the subjects which founders and owners least understand. While capital structures can result in complicated scenarios, it is important for all businesses to have at least a basic understanding of what they are, how they work, and why they are so important. They can have profound effects to a business’s ability to obtain capital, grow, and potentially to survive.
What is a Capital Structure?
An organization is only as good as the quality of its leadership. Unfortunately, quality leadership at the top does not always translate into great leaders within middle management. Making things even more difficult are the ways that poor managers hide behind their work teams or what appear to be extenuating circumstances.
But effectively identifying and removing problematic management often starts with looking at two kinds of poor leaders: the disengaged and the reactive. It is important to be able to identify these types of managers quickly and to have a plan for what to do when you find them.
The Chief Financial Officer, or CFO, has a multitude of responsibilities within an organization, with nearly all of them being related to significant financial decisions. The combination of these detail-oriented tasks as well as administrative duties means that the CFO plays a vital role in ensuring that the company is running optimally as well as setting a positive example for others through leadership. In recent years, the role of the CFO has seen some significant changes, making an effective CFO even more vital to a business, and placing an even bigger responsibility on the part of the business to bring…