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How to Create a Business Plan (for Startups)
Young entrepreneurs often forget an important step before launching a startup: creating their business plan. Implementing a website itself is trivial—everyone can spin off a Wix or Weebly website in a matter of minutes and publish it live, even with a rough business plan drafted quickly upfront. While a website might be easy to set…
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5 Key Components to Tick Off Your Checklist When Starting A Business
Starting a business is no uncharted territory – almost every inch of it has already been conquered. But not everyone was able to write a successful conquest; most of those who tried failed. For there is a universal truth behind the stories of those who were fortunate: success doesn’t come easy. There are a ton…
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7 Phases of Running A Freelance Business
Freelancing is a decent alternative if you’re a self-driven person who is a fast learner. Some people are well-organized, can use Google (or Stack Overflow, or other resources) quickly, read fast, and are not afraid of experimenting. With the right attitude through freelancing, you may improve your technical and business skills that you will need…
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10 Practical Risk Management Techniques
Successful business founders, executives, and managers employ different approaches when it comes to risk management techniques. Whether dealing with financial volatility, market competition, or internal organizational challenges, managing risk effectively is crucial for long-term success. Only 23% of CEOs believe they have comprehensive information about the risks in their business even if 92% of them…
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Is Your Business Safe? (15 Operational Questions)
The last recession has put almost all businesses to the test. Some were hit really hard especially the hospitality and travel industries, along with brick and mortars. A few made some decent profit like pharmacy and home delivery services. But everyone else was partially hit or still struggles to make a living in these uncertain…
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Retaining Clients vs. Chasing Leads – Mistakes And Solutions
Are you spending too long chasing NEW clients instead of RETAINING your existing ones? A Harvard Business Review report claims that acquiring a new customer is 5 to 25 times more expensive than retaining an existing one. I get extremely annoyed when my telecom or cable provider offers a better deal to new clients than…
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20 Traits of Failing Entrepreneurs You Should Avoid
Working regularly from coffee shops or partner community spaces has given me an opportunity to meet solopreneurs and beginner entrepreneurs who dream of making it big. I have also met hundreds of all kinds of entrepreneurs as well as worked with and trained many of them. Noticeably, there is a growing appreciation for entrepreneurship. According…