Running a profitable business doesn’t just happen. The most successful companies and organizations have specific steps and procedures in place that increase their probability of success. In this article, we will discuss the importance of understanding and tracking your sales cycle.
It is estimated that 20% of all businesses fail in their first year of operation. By the 5thyear, that number jumps to 50%. There are many factors that go into running a successful business, but one that entrepreneurs must take note of is the importance of proper planning and execution of ideas. In other words, having standard operating procedures is a must. In this article, we will discuss the importance of having a SOP, it’s benefits, and how to create one.
As businesses become more competitive, the need to find ways to stay one step ahead is critical. One way to increase odds of success is by taking advantage of all the resources available to you. Why reinvent the wheel, when someone has already done the hardwork, and used their tools and templates as part of a successful business.
For most entrepreneurs, their main focus is in getting their business, making it profitable and ensuring it runs smoothly. However, having an exit strategy is just as important. The day may come when an entrepreneur wants to retire, change direction have some more free time, or they pass away suddenly. Here are a few of the top reasons to have an exit plan.
Being an entrepreneur and business owner in these trialling times comes with a great degree of uncertainty. This phrase is more important today than ever before. For entrepreneurs, this is key to their success. 2020 has been a year of pain and uncertainty like never seen before. We have written some useful tips to ensuring you remain a strong business leader in times of crisis.
With globalisation and the rise of social media like LinkedIn and Facebook, sales conversations have undergone dramatic changes. Earlier, salespeople talked about their products (or services) and customers listened. Prospective customers were less aware of the options they had, and relied on the salesperson’s knowledge. Read on to find out more...
The employment landscape is dynamic, and there is an increasing demand for qualified workers across different industries to work for short term periods. What you don't know is that it is possible your labour hire provider could be exposing you to fines up to $500,000 by not following some simple rules. Read on to find out more.