The Importance of Innovation at Every Business Level

Innovation is extremely important for the long-term success of any business, no matter what the industry. Any new company needs to introduce something fresh to the market to fill a gap and provide an exciting alternative to what’s already out there, to draw customers into their product or service. However, as RSM points out, innovation is also important for large, established companies. The paradox here is that if a business is growing and successful, does it need to innovate or will that risk having a negative effect?…

Growth Hacking 101: Explode Your Business with These 5 Ways to Reach More Customers

A customer base is the lifeblood of any business. Nowadays, due to the increasing demands for brands, attracting new customer has become an uphill task. In fact, research has shown that it is more expensive to acquire new customers than to keep the existing ones. However, a stream of new customers enables the business to increase profits and expand. Below are ways to help you improve your customer base. Know Your Audience The target audience is the group of potential customers you intend to reach.…

The Season to be Merry for Small Businesses: Strategies for the Holidays

The Christmas season is finally here and consumer behavior is now adhering to the holiday spirit. Is your small business ready to attract more holiday shoppers and tackle this not-to-be-missed, lucrative period? Make sure you’ve got to all the things in the list and get ready to get the sales rolling in. Read on and see if you’ve got everything to help your small business along in all the hustle and bustle of the holidays. 1. Develop a contemplative strategy for the holidays Planning your seasonal strategy should start early on, so chances are you’ve got this checked already.…

Crucial Contingency Plans You Need for Your Business

One of the biggest keys to success in business is successful and careful planning. Ultimately the market, the industry and your organisation are going to change countless times over your organisation’s lifespan and if you don’t have plans in place to help you cope with those changes then your business won’t last. In many ways the winners in business will often be dictated simply by who is the most prepared. The trick then is to ensure that you aren’t waiting for bad things to happen before you come up with your plans.…

5 Reasons Why Doing What Others Do Turns You Into a Small Business Zombie

I’m sure you have heard this advice: Follow the best practices. I’m not a believer in that advice. For me, do things others don’t; if you can’t, just copy the best practices and be sure to make them your own. Why am I such a rebel? The answer to that question is simple: Doing what others do kills your creativity. And if your creativity dies you are becoming a zombie of the business world: Wandering around places, clueless. You are becoming resistant to changes and you won’t notice the wind of change that will help you navigate your small business ship.…

My Growing Startup: Should I Monetize it or Keep it Free? (Infographic Inside)

It seems like a no-brainer for the rest of us, but some business owners – especially those establishing venture capital (VC)-backed tech startups – have strong preference toward growing user base by keeping their services free of charge. So, which strategy to adopt? Should I monetize my products/services or keep them free as long as I can? While growth and innovation are typically what VCs are looking for, my profit-oriented mind is always telling me that a business is a good business if it makes money.…