Here’s the math: for every $1 value of an item lost in your warehouse due to breakage or inadequate inventory, you need to generate $4 of additional sales to cover that loss. That’s a pretty steep price to pay, and your business might go under sooner if you’re not vigilant in managing risks. One way
Becoming a reseller is much more achievable with today’s resources, and it’s a booming business mode as the resale industry has been estimated to have around $17.5 billion in annual revenues. Before jumping into the game, though, there are some important factors you should mull over. Manage your prices Although you will factor in profit
Have you ever just wanted to take up classes for your own learning pleasure, or because you want to have an advantage at work? With online courses now available, you can now start learning anywhere at your pace. If traditional school was a daunting place for you to learn in, there are now many online
Have you recently launched a product or service that isn’t getting a warm response? Have you tried all the strategies you know to try but still come up short of the reaction you desire? You know your product and service inside and out. You know its capabilities and how it can solve problems. But how
These days, almost every single business has its own website. While this is an amazing advantage for all entrepreneurs, it can also be a dangerous disadvantage, especially if you are not careful when it comes to hackers and network security. It is fairly easy to hack websites that do not have the right advanced network
As your business grows, you will face problems and opportunities that demand different solutions and approaches. Addressing them as they come is not the best approach; you should establish consistent measures to make the most out of each situation, and here is how to do it. Continuous market research You did some market research before
Small businesses will have to rely on third-party IT service providers for their cyber security requirements, primarily due to a lack of skilled and qualified talents, according to non-profit group Australian Cyber Security Growth Network (AustCyber). A 2018 report showed that Australia likely has lost more than $400 million in lost revenue because of the
To say that entrepreneurship is a challenging task is definitely an understatement. The path toward becoming a successful entrepreneur with a stable and prosperous business is littered with challenges. To overcome these hurdles, you would need to invest plenty of resources, time, effort, and skills. Creativity is one of the most important things that you
An effective online marketing campaign consists of many small parts working together. Each one has a role that contributes to the overall success of your business. The headline and description are two aspects of your search engine optimization strategy that may attract, hook, and convert potential visitors that read them. It takes some creativity and
Almost half of small businesses in the United States had at least one cybersecurity attack in 2017, according to the latest “Small Business Cyber Risk Report” by business insurance provider Hiscox. The firm added that 66% of owners and high-level executives find cyber attacks as one of the top concerns in their business, next to