Tag: business tips

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10 Practical Risk Management Techniques

Successful business founders, executives, and managers employ different approaches when it comes to risk management. 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 agree that having such information is highly critical to the success of their venture. On Shark Tank’s season 7, Robert Herjavec said that “Great entrepreneurs live in paranoia”. While I do agree with the sentiment, the risk management course I took back in the day was… Continue Reading
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Brand Building vs Silent Building: Choosing the Right Strategy for Your Business

In the dynamic landscape of e-commerce, the debate between brand building and silent building has ignited discussions across various platforms. As I engaged in conversations on four different podcasts this week, one central question emerged: why are many dropshippers hesitant to embrace brand building and showcase their stores? The apprehension often stems from a fear of imitation and resistance at scale. However, let's delve into the essence of both strategies to better understand their implications. The Power of Brand Building Brand Building is an artful process that involves crafting a distinct identity for your business through deliberate actions and targeted… Continue Reading
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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 and executives face. Why Does Outsourcing Exist? Outsourcing exists because it offers businesses a way to get tasks done more efficiently and often at a lower cost. If you own a business, you know that doing everything yourself is impossible. You have to focus on… Continue Reading
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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 of this type of content, more and more businesses seek the services of a good freelance writer. However, in spite of the demand, the great number of freelance writers and firms offering content services on the internet seemed to find it hard to land clients.… Continue Reading
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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 and hospitality industries, through an overnight transition to remote work, a massive bump of cryptocurrencies, a housing market growing like crazy from Hong Kong to San Francisco to a global crash in 2022, businesses definitely had to endure a lot. Back to The Global Recession… Continue Reading
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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 vision statement is the big dream, the picture of what success looks like in the future. It's the company's north star, giving everyone a clear direction and something to strive for. Have you developed a mission statement for your company? What about a vision statement?… Continue Reading
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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: Plenty of brilliant minds are introverts. You don't always get to meet them at events. Social media and blogs, as well as smaller meetups or alumni gatherings, could be instrumental in meeting the right peers. Nowadays, jobs often deal with sensitive data. Trust is a major factor. Keeping the intellectual property in place isn't… Continue Reading
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6 Ways to Hire and Manage Remote Workers for Business Advantage

The shift towards remote work has gained momentum, particularly after the COVID-19 outbreak. A FlexJobs survey reveals that 65% of participants prefer to work remotely full-time after the pandemic, while 31% are inclined towards a blend of office and remote working. While remote work presents certain challenges in business operation, many have thrived with its incorporation. Look at the case of Cisco. Back in 2009, Cisco released their telecommuting study results declaring $277M in annual savings for the company. Here are some key metrics outlined in their press release: The average Cisco employee now telecommutes 2.0 days per week. 60… Continue Reading
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How to Start an LLC in the U.S. – Complete Guide for Non-residents

Starting a business in the United States is like setting sail on a thrilling voyage, where the horizon is adorned with possibilities of growth and triumph. But if you're a non-U.S. citizen, you might find yourself pondering whether the rewards of starting a Limited Liability Company (LLC) are within your reach. The reassuring news is that the doors to LLC ownership have been widely opened to non-U.S. citizens of the country thanks to innovative businesses like doola! Picture yourself standing at the crossroads, with New York's vibrant markets beckoning on one side and Silicon Valley's innovation hubs on the other.… Continue Reading
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Why Do Digital Marketers Screw Up When Working In B2B?

Why do traditional marketers screw up in a B2B setting? After conducting 20 interviews with B2C marketers running eCommerce or other low-cost products, I decided to prepare a quick outline of B2B marketing and what makes it different. As a HubSpot agency partner and a programmatic advertising partner scaling enormous publishers, we know how different the entire strategy is, especially as we are selling $50K - $300K solutions all the time. Most digital marketers that I know of focus on the B2C audience because that is, in a way, how marketing started in the first place. You want to attract… Continue Reading