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30 Ways to Diversify Your Income (Multiple Parallel Revenue Streams)
When it comes to finances, increasing profitability broadly falls into one of two categories: Traditionally, 9-to-5 employees rely on a single source of income limited to their payroll. If your monthly or annual income is fixed, the best you can do is optimize your expenditure and improve your living standard (bonus points for managing a…
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An In-Depth Breakdown of the Software Outsourcing Industry
If you have just stumbled upon this post organically, I’ve been running a 50+ agency for the past decade, currently consult 40+ businesses leveraging outsourcing, and offload multiple areas of work through outsourcing. As the question of outsourcing development services comes up fairly often, this guide answers the most common concerns or misconceptions business owners…
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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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11 Business Strategies for Freelance Writers and Content Firms to Land Clients
A report from Inc.com states that around $3.1 billion is being spent by blue chip businesses for remedial writing training, $2.9 billion of which is spent on current employees and not new hires. This indicates that quality writing and impeccable written content production remains to be highly in demand these days. By recognizing the importance…
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8 Crucial Business Skills to Weather the Recession Storm
The current decade has been turbulent at best, challenging business paradigms, industrial practices, and biological presumptions across the planet. It begs the question: What is the successful route to developing resilient business skills for the years to come? From a global pandemic ranking near the Spanish Flu of 1918-1920 to worldwide lockdowns suffocating the travel…
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How Mission and Vision Statements Work
When starting a business or setting a new direction for an existing one, two guiding stars often lead the way: mission and vision statements. The mission statement is like the company’s backbone, outlining its core purpose and the reason it exists. It answers the straightforward question: Why are we here? On the other hand, the…
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The Power of Networking Done Right
The reason I find networking critically important is simple. Referrals make the best business contacts. Freelancers get a lot of business through word-of-mouth. Internships are often contingent on a common point of contact. Hiring for a senior management position is almost completely dependent on networking. Moreover: Also, you’d be surprised how open, responsive, and helpful…
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The 4 P’s of Employee Relations and Conflict Management in the Workplace
Workplace conflict costs $359 billion in paid hours or 385 million working days annually. This is according to the “Workplace Conflict and How Business Can Harness it to Thrive” report. There were news articles about Apple employees having concerns about the ‘rigid’ rules in hybrid working, while Google’s people were frustrated about the ‘two tiers’ remote…
