POST CATEGORY : Management

Why Not Every Small Business Deserves to Succeed

The entrepreneurial world often romanticizes small businesses, portraying them as the underdogs of capitalism, engines of innovation, and pillars of the economy. While these narratives are inspiring, they often obscure a harsh reality: not every small business is destined—or even deserves—to succeed.

Small business success

Why does this happen? Is it simply a matter of bad luck, market forces, or something more intrinsic? This article dives into the often-overlooked reasons some small businesses fail, arguing that failure isn’t always a tragedy; sometimes, it’s a necessity for the larger ecosystem.

The Harsh Realities of Entrepreneurship

Poor Business Fundamentals

Many small businesses are launched with enthusiasm but lack the foundation necessary for long-term survival.…

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Improving Corporate Governance: 6 Guidelines for SMB Leaders

No business is too small to bother with proper corporate governance. Likewise, it’s never too early for growth-minded startups to think about the obligations they’ll need to meet as they scale.

Corporate governance

Fortunately, examples of sound corporate governance abound in every sector, industry and specialty. While every business should be free to set its own rules and meet its unique compliance obligations as it sees fit, leaders can and should learn from peers who’ve put in the work and committed to “get it right.”

With that in mind, let’s review six basic corporate governance guidelines — or “to do’s,” if you prefer — for businesses to focus on as they grow.…

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The Side Hustle Dilemma: Is It Ruining Small Businesses?

Over the past decade, side hustles have become a dominant force in the economy. From freelance gigs to e-commerce shops run during off-hours, the side hustle culture has inspired millions to explore entrepreneurial ventures. Promoted as a way to achieve financial freedom and independence, side hustles are often seen as empowering tools for the modern worker.

Managing small business growth

However, as the gig economy grows, a troubling question arises: are side hustles undermining small businesses? While the movement to hustle has its merits, its unintended consequences on traditional small businesses and the economy at large deserve scrutiny. In this article, we’ll examine the side hustle phenomenon, its impact on small businesses, and what can be done to create a balanced entrepreneurial ecosystem.…

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Consider These Improvement Projects to Take Your Business to the Next Level

Your business’s physical location is critical to its overall success. Regular maintenance and upgrades can ensure the space remains both functional and safe. Investing in your property’s structural integrity is an excellent way to increase its value over time.

Business premise improvement

One essential maintenance task is roof inspection, which should be conducted at least every 12 months, according to Allstate. Routine inspections help identify potential problems before they become costly repairs, thus protecting your investment. According to This Old House, in 2023, there are over 253,000 roofing contractors in the US, and finding reliable help for roof inspections is more accessible than ever.…

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How New Entrepreneurs Can Use Connections to Build an Early Client Base

In the early days of entrepreneurship, every client gained is a step toward momentum. For new entrepreneurs, established connections offer a unique advantage that’s often overlooked.

New entrepreneur

photo credit: Freepik

Friends, former colleagues, and acquaintances aren’t just passive contacts; they can be a springboard for building trust, credibility, and a foundation of loyal clients. By strategically tapping into these relationships, you can gain your first ten clients more easily than you’d expect, setting the stage for sustainable growth and an expanding network.

Partner with a Local Business

Collaborating with a nearby business can significantly increase your local visibility, as it allows you to tap into an established audience that’s already engaged in the area.…

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How to Turn Your One-Person Business into a Corporation: A Mini Guide

In the journey of entrepreneurship, many individuals start as solo business owners, managing every aspect of their company from product development to customer service. However, as the business grows, the challenges multiply, often making it difficult to manage everything alone. At some point, transforming a one-person business into a corporation becomes a logical step for expanding operations, improving credibility, and accessing new opportunities.

Small business owners discussing incorporation

This ultra-long-form article will walk you through the key steps of converting your small business into a corporation. We’ll explore the benefits of this transformation, potential challenges, and expert strategies for success. Whether you’re in the early stages of planning or already feeling the strain of growth, this guide will provide the insights you need to make a smooth transition.…

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How to Navigate Tech Startup Challenges while Scaling up: Insights and Solutions

Tech startups are exciting, fast-paced, and often unpredictable ventures. While these companies start with great ideas, they face many challenges as they grow and scale. From acquiring customers to maintaining talent, the road is often rocky. Founders of these startups must address these challenges head-on, and in many cases, the stakes are high.

Tech startup meeting

This blog explores some of the most common hurdles tech startups face and provides strategies to overcome them.

1. Customer Acquisition and Retention

Building a user base quickly and cost-effectively is crucial yet incredibly difficult for startups. At the same time, maintaining high customer satisfaction becomes more challenging as the user base grows.…

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Why a Robust Risk Management Approach Protects Your Business From the Start

When you’re launching a small business, every decision carries weight. From securing funding to hiring employees, the risks are endless. That’s why having a solid risk management plan from the beginning is critical to long-term success. But what exactly makes risk management so essential for a new business?

Risk management

Here, we break down six key reasons why a robust risk management approach is crucial for protecting your business from day one.

It Helps You Identify Potential Risks Early On

One of the most valuable aspects of risk management is its ability to identify potential issues before they become serious problems. As you start your business, you need to consider everything from financial risks and regulatory compliance to cybersecurity threats.…

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13 Ways to Become a World Champion of Time Management

In a world that thrives on speed and efficiency, time management is no longer just a useful skill—it’s a superpower. It’s what separates the constantly overwhelmed from those who navigate their busy lives with ease. Whether you’re running a business, balancing a hectic personal life, or simply trying to stay on top of a mountain of tasks, mastering time management can transform your productivity and your overall quality of life.

Time management

So how do you go beyond being just “good” at managing time and become a world champion? Here’s your playbook of 13 actionable strategies to supercharge your time management skills.

1.

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How to Work with Gen Z without The Headaches

Let’s face it: working with Generation Z can feel like stepping into uncharted territory. If you’re a business owner or manager, you may have already encountered some of the quirks and challenges that come with having Gen Z in your workforce. On the flip side, if you’re part of Gen Z, you probably know how frustrating it can be when your older colleagues just don’t “get” you. But here’s the thing—working with Gen Z doesn’t have to be a headache. In fact, it can be exciting and rewarding if everyone’s on the same page.

Working with Gen Z

Born roughly between 1995 and 2010, Gen Z brings a unique mix of tech-savviness, independence, and a strong sense of purpose to the workplace.…

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