The failure rate for small businesses is incredibly high. Many small businesses rely on "good products," "good ideas" or "good services," rather than on proper preparation, business structure, funding and marketing strategy. While having a sound product and/or service is also a must, a business ... Views: 1092
Now that you've decided what type of business you would like to go in, it's time to make it official. All businesses need at least one local, state or federal license to legally operate in the United States, so the next step is to obtain a business license for the state in which you would like ... Views: 980
Servant leadership is having the desire to not only lead, but to do so in an ethical manner. I am aware that this could mean a variety of things for many people, but to me, it means making decisions that will benefit those within the organization as well as the organization as a whole, and ... Views: 3142
In today’s society, diversity in the workplace is a fact of life. The probability of organization members coming from diverse cultural backgrounds, as well as customers and clients coming from diverse cultural backgrounds is very high. That said, the way in which organizations communicate, both ... Views: 10832
As people, our culture greatly impacts who we are and how we communicate, even on the job. Culture encompasses nationality and ethnicity, and can also be influenced by one's occupation, sexual orientation and religion. That said, people take their culture with them wherever they go, including ... Views: 3135
In order for consultants to be the most effective, a strong relationship must be formed between the consultant and the client. However, throughout the consultation process, political and ethical issues arise that can either hinder or help the relationship, and therefore, hinder or help the ... Views: 5168
Whether you have been in business for ten years or ten days, approaching potential investors is all about selling yourself. You may have the best product on the market, or a revolutionary service or idea, but if you do not effectively explain what investors really want to know, your chances of ... Views: 1046
Frameworks are used to understand organizations, and to find the best way to operate the organization, its structure, and resolve various issues that arise. The five organizational frames are the rational frame, the human frame, the systems frame, the political frame, and the cultural frame. It ... Views: 4544
In the day-to-day operations of a business, all leaders are faced with ethical issues. Ethical issues range from determining which employees deserve promotions to more complex issues, such as serving a client with a potentially unethical request. Regardless of their complexity, all ethical ... Views: 1460
Productivity levels are a common topic of discuss for business of all types and sizes, because productivity impacts a plethora of other aspects of business, including the bottom line—profitability. Increasing personal productivity levels can help secure your job position, get you promoted to the ... Views: 1255
There are two great assistance programs available to small business owners through the U.S. Small Business Administration (SBA) that could help give your business the boost it needs during tough economic times. The assistance programs, the small disadvantaged business (SDB) certification program ... Views: 1781
The end of the fiscal year is a primary time for organizational evaluation. Whether you have a start-up operation and have been in business less than a year, or are a veteran; annual evaluations are not only beneficial to all organizations, they are a necessity.
During an annual evaluation, ... Views: 1262
Composing an effective funding request is a critical aspect of the process of obtaining funding for your business. Regardless of the level of perceived success you have of your business, top-level clients you have or wish to cater to, or how many innovative products or services your business ... Views: 1247
Monitoring the strategies and tactics utilized by your competitors is necessary in the process of developing your company’s unique strategy. Evaluation of competitors can help your company stay abreast of various industry trends, which can help you meet your customers at the point of need. ... Views: 1364
At the end of the day, people are going to do business with people who they feel like they know and trust. While the aforementioned statement may initially seem like a no-brainer, transparency in business is one of the key determining factors for the longevity of a business—yet many still ... Views: 1282
Venture capital, a type of equity funding, is essentially an investment that combines a life insurance policy and mutual fund shares. With this option, the investor is shielded by the protection of the insurance policy (collateral), and also has the added bonus of growth potential of the mutual ... Views: 1278
Venture capital is a type of equity funding, meaning that an investment is made in a company for the purpose of receiving shares in said company, along with other collateral (usually an insurance policy). Selling shares of one's company also means sharing ownership and ultimate control over the ... Views: 1154
Obtaining business funding has become increasingly difficult throughout the years. As the economic climate worsens across the U.S., and on a global scale, lenders are less likely to freely distribute funding, and investors are not as willing to take a chance on seemingly risky business ventures. ... Views: 1186
Social networks have become increasingly popular in the past few years. From car collectors to book lovers, there seems to be a network out there for everyone. That said, social networks present a prime opportunity for businesses of all sizes to reach targeted audiences, while saving money and ... Views: 1201
The common thread between all successful businesses is availability of adequate funding. Regardless of how innovative a product or service is, without the necessary funding, your dreams of business ownership will never come to fruition. The tricky part can be finding the funding you need to ... Views: 1194
Selecting the appropriate structure for your business is one of the most important decisions that you will make, and will have long-term future implications for your company. When considering which structure is right for your particular business, you must not only consider your current business ... Views: 1173