There’s a mixed debate on whether startups should be concerned about profitability in their early stages of growth. While most sober entrepreneurs would get behind the debate in support of profitability for startups, the question on resource allocation remains a challenging one.
The matter of fact is, where you allocate your resources as an early-stage start-up will determine how fast you reach profitability – if you get on course to profitability in the first place.
Even though the road to profitability will often differ depending on the form of business you are creating, there are considerations that remain essential across the board.
- Is your business customer-funded?
Your industry or type of business notwithstanding, you’ll be better off with a business model that encourages your customers to pay you money upfront. Such a business allows you to finance the development of your product from the revenue so collected.
A matchmaker business for instance is a good example here. The business is funded by customers and the site owner pays the sellers from the revenue collected from the buyers. Notice that matchmaking business model brings together buyers and sellers to the site. You get paid by buyers before you pay the seller, and as such you tend
The fast changing economic scenario entails companies to keep track of their value for having a better hold on the market. The highly competitive market environment is making the assessment of enterprises fluctuate drastically. Also, you will find many companies that have disappeared from the list few months down the line. Hence, it is crucial to get a certified business appraisal. It will not only serve as a benchmark, but also help businesses in many other ways.
Here are the top reasons why you should get certified business appraisal:
Reporting – You have the responsibility to report the assessment of the company to investors on a quarterly or annual basis. It provides financial health of the enterprise and increases investor confidence.
Fundraising – If you want to raise funds for your business, you would need the appraisal report. It is necessary for both conventional fundraising from banks or for current options which include crowd funding.
Merger or Acquisition – You need a detailed appraisal report of the entire business to enter into any merger, or you decide to sell your business. It is the first step in the
I have worked for many years all over the world. Ten of those years, I spent in Japan. Work there was always different somehow. It seemed more exciting and fun. I had wondered why. I also saw that the Japanese had a work ethic second to none. After my time was up there, I left, having never really understood why they worked so hard and so well.
After a decade, I returned. This thing called work still plagued me. Was it because of their Buddhist and Shinto cultures? I wondered. It had something to do with their culture and beliefs. But I could not put my finger on exactly what it was.
Then one day I was receiving my change from a convenience store attendant. The attendant was bowing and somehow I could tell she wished me well. It was not a job thing. It was not something she was doing for her. She was doing it for me.
I thanked the attendant and looked at her.
I turned to my wife, who was Japanese. “Can I ask you what your definition of work is?” She laughed, as
Production companies working with film and photography have seen the industry change over the course of the 20th century. Once relegated to the mega-studios or individual advertising companies, now it is common to find a production that is small enough in size to serve the individual needs of each of its customers, but able to do so on a global scale. With modern technological advances and partnerships with the right niche contractors around the world, these companies handle every digital branding need for businesses large and small.
Global Impact, Local Service
As industries grow, it’s been common for businesses to evolve into massive corporate entities, with huge staff and presences around the world. While this made it effective for these companies to handle a volume of work, each individual client that they served often lost out on that personal touch that is so necessary to effectively building and maintaining a brand presence. For example, a company looking to target customers overseas may find that working with a large company means they never know who they will be talking with at any given time, while instead, finding
As a Business Coach I have created and reviewed hundreds of annual business plans. I find many companies do a poor job of creating their plans, which seriously diminishes their growth in revenue and profits. On the surface, these plans look like they have the right ingredients for success. However, a closer look shows that the leaders inadvertently led themselves astray. They then lose valuable time and energy, creating a profit leak.
As a certified Gazelles coach, I help clients implement the concepts found in Scaling Up by Verne Harnish. The “One-Page Strategic Plan” is a key tool that everyone looks forward to using in our annual planning process. Whether your company uses this business planning tool or something else, the issues you must consider are the same. Only the presentation of the business plan is different.
At the bottom of each of the “priorities” columns of the “One-Page Plan” is the “Critical Number” section. I have found that selecting the “Critical Number” may be the single most important decision in the planning process. The “Critical Number” is a key performance indicator that you have identified
The most successful companies in all industries are applying strict logistics management principles in every compartment of their operations. Nothing is left to change or left out of scrutiny when it comes to evaluating how the transportation and logistics costs impact the company’s budget and how much waste the company generates through its manufacturing and distribution activities.
If your company is trying to reduce logistics cost, but it has not yet reached the desired level of supply chain optimization, here are the top five reasons why you should consider hiring a professional logistics management company:
1. Reduce Logistic Cost by 50%
Given the previous experience of professional logistics companies in dealing with clients, they estimate that implementing lean manufacturing, sustainable packaging and logistics principles helps them reduce their overall costs with logistics by half. The implementation of logistics management procedures involves everything from rethinking the way products are handled, packaged and stored to the implementation of automated manufacturing systems.
2. Reduce The Quantity of Waste
Companies generate a lot of waste – some of which they are not aware of, because it is their end client’s job to recycle
1. Not Having A Daily Productivity Goal
Every morning ask yourself what you are going to do today that will drive your business forward.
As an entrepreneur, it is up to you to take action and move forward. If you have never been an entrepreneur before, this is something that may brand new to you. You are now the creator that has to make things happen. This can be a big stumbling block for people in the beginning.
At the end of the day, be really honest with yourself, and ask what you did today that actually moved your business forward. If you focus on this every single day, you will start to see the compounding results of your efforts.
The #1 focus of every entrepreneur should be to make money. Unless you make money, your will not stay in business! You must know the driving force that will continue to make money for your business.
2. Trying To Do Too Many Things At The Same Time
You cannot possibly focus on everything, but you can get good at one thing. If you jump from one thing to
It’s not easy to manage heavy traffic. Any event or road that attracts huge traffic can be tough to organize without proper control mechanisms. If the event is not properly planned, it could lead to a lot of confusion and chaos.
Organizers have to plan the location, travel routes, entry, and exit for free traffic movement to the site and amenities which doesn’t allow the crowd to get out of hand. An angry crowd can become tough to handle and sometimes they could turn violent leading to a lot of damage to property and people. To regulate and limit the movement of traffic peacefully you need to have a proper plan and more importantly crowd security control measures must be in place.
Crowd Control Barriers
One of the best ways to control traffic is to use crowd control barriers. They help direct the crowd and avoid any traffic congestion. These barriers can be designed in a flexible manner to prevent any harm to the people. They come in handy to regulate traffic, lead them in a particular direction, control heavy traffic to stay within limits, barricade a
Recently, I’ve had a run-in with a vendor providing a service to my company. I contracted with this business almost a year ago for a service she’s going to provide in the upcoming weeks. She emailed me a couple of weeks ago to tell me that she has to cancel our arrangement due to some work she has to have done in her business. Note that we’re talking about scheduling something 7-8 weeks before our contracted date.
Valuing connection and communication, I called her to talk this through. I called every day for three days in a row and left messages. She did not call me back. Because we have a contract, I got in touch with my lawyers to see what we needed to do, and we’re looking at our legal options.
She has finally gotten in touch with me, but the situation is still unresolved. Based on this situation, and my 14+ years in business, it’s pretty easy for me to spot the flaws in her business.
Here are the problems I see:
1. Not communicating properly or in a timely manner or at all. The
We all know that mental stimulation is good for our brains and, more generally, for our wellbeing. But what about when we complain about being ‘too busy’? Are we moaning about something that is actually good for us?
Or does the stress that can come from being too busy outweigh any of the mental benefits we receive from it?
A recent neuroscience study may take us one step closer to answering this question.
Scientists from the University of Dallas and the University of Alabama recently studied 330 healthy men and women ages 50 to 89 years old. They first asked them questions, including:
- How often do you have too many things to do each day to actually get them all done?
- How often do you have so many things to do that you go to bed later than your regular bedtime?
The researchers then awarded each a “busyness score,” based on their answers and then participants were tested to measure their cognitive abilities. This included their brain’s processing speed, working memory, episodic long-term memory, reasoning, and crystallized knowledge.
Tests included viewing two strings of numbers and determining whether they were
When you’re faced with having to hire a company for the first time, knowing the things to look for in good companies can mean the difference between hiring someone for now and finding an ally you can call upon for years to come. From hiring pest control to finding a fantastic caterer for your son’s wedding, ask these 5 questions to ensure you are working with a good company:
1. Do you have references?
Ask for references, and contact them, before you do anything else. A credible company will happily provide references to show that they want to do business with you. A company having references will tell you a few things: this company values the opinions of their customers; this company is concerned with more than their bottom line; this company relishes the opportunity to wow intelligent consumers who choose to do their hiring homework. If a company doesn’t have references at the ready, or worse, scoffs at the idea of providing references, consider it a red flag and move on.
2. How would you contribute?
After you’ve contacted a company and spoken to their references, explain
Crowd control and highway control barriers come in various materials and sizes. They have to be selected according to the purpose. They are widely used for different reasons from construction, highway to law enforcement. It is important to pick the right barrier for safety and security of the people and property.
Criteria to Choose Quality Barriers
Your choice should be economical and efficient while providing protection against unexpected traffic. It is important to source the barriers from reputed companies since quality is crucial for achieving the purpose of a barrier.
The barriers have to be portable for events and other purposes. In this case, water-filled barriers can be purchased. You should choose the supplier based on his record in the industry and reviews. The supplier should satisfy your budget and individual requirements. Water-filled barriers are portable and serve the purpose of regulating crowd efficiently.
Value Added Benefits
You should also make sure that barriers have interlocking hooks that can bend and are properly welded to the frame to avoid any separation. Choose a concrete barrier which has a good gauge for durability and strength to withstand the heavy traffic.
If you own a cloth, embroidery or any other business that requires you to use sewing threads you need to use the highest quality of threads for you to get ideal results. There are many types of threads in the market that you can go for. The most common being:
It’s probably the most common unit used in sewing delicate fabrics. It’s also heavily used in lingerie sewing companies. These threads come in different categories including: all purpose, cotton, perle, stranded, tatting, flower, quilting, and coton a broder. The different categories are ideal for different types of fabrics. To avoid damaging the fabric, always use the right thread for the right fabric.
It’s said to be a true all-purpose thread and a great choice for both machine and hand-sewn projects. Its main feature is the wax or silicone finish that allows it to easily slip through the fabric that you are sewing. There are two main categories of these threads: all-purpose and invisible. You use the all purpose in sewing almost all types of fabrics. While you can use it in almost all of your
Masterbatch is liquid of solid additive for plastic that is used for coloring or imparting different properties to plastic. It is a concentrated mixture of additives and pigments that are encapsulated in the heat process to carrier resin that is then cooled and then cut into granular shapes. Processors use masterbatch to economically color raw polymer in the plastic manufacturing process.
Masterbatch is preferred by many because it is less expensive compared to buying a material that is fully compounded. Such a material is not only expensive, but can also be less open to product color variability. The concentrates are also preferred over compounding raw materials on site because they do not have dispersion issues of additives and colorants as it is the case with the compounding process. They might require longer lead times and more storage space, but masterbatches are still advantageous in more ways than one. They offer excellent coverage power and dispersion so they are able to meet requirements for various end user applications and resins. Below are some of the benefits black masterbatch offers to final products.
· Excellent mechanical properties offering
Most sales reps hate getting objections. When they get them, their hands start to sweat, their heart takes the elevator down into the pit of the stomachs, and they start wishing they had gotten that graduate degree and avoided sales altogether.
This is how most sales reps react when they get objections, but not the top producers. Top producers view and react to objections very differently. To start with, because top producers thoroughly qualify their prospects up front they generally uncover and deal with many objections during the qualifying stage. Objections like, “I’ll have to show this to my partner,” and others are already known and dealt with.
In addition, top producers have taken the time, long in advance, of scripting out two or three different rebuttals to the objections they get, so when they do get them, they know exactly what to say to overcome them. In other words, they are rarely caught off guard, because they know what to say to deal with them.
Third, because top producers know what the objections or stalls are likely to be in advance, and since they are prepared
Two ways to build your business faster
Hi guys, how do you feel about your business today? That is a question you should ask regularly, because if you are not in love with your business how can you possibly interest others.
We all have off days, but they should be the exception rather than the rule, so to cheer you up here are two corking ideas to revitalise your business.
GO PROSPECTING WITH OLD CUSTOMERS
It never ceases to amaze me that so many people spend fortunes on trying to get new customers and never bother to keep in touch with previous happy clients.
Get your old receipt book out and just check how many potential customers that know you, are lurking there.
Dependent on what business you are in, create something that you can offer to these old clients that not only gives them some value but also says HELLO I would love to do business with you again.
You will be surprised at how many will react to your reaching out to them and once they respond, you will have opened a conversation that could well end in more
Clinical research now takes place in every continent around the globe, offering the trialling of treatments for a huge range of diseases and conditions. These trials are a significant part of advancing medicine in countries all around the world, offering new hope and solutions for illnesses that claim thousands of lives each year.
There are several important elements to successful clinical research trials, and one of these is hiring a reliable and efficient Site Management Organisation (SMO). These organisations are often hired by sponsors or Clinical Research Organisations (CRO) in order to run clinical trial sites. The reason for this is that they offer several major benefits to research as a whole.
The importance of a quality SMO for clinical research starts with the increased level of efficiency that can be brought to proceedings, with the SMO providing management and support to the trained staff of the CRO. The staff at the SMO can be tasked with numerous roles, each helping experienced and trained investigators to focus on essential work.
There are many different aspects necessary for the successful carrying out of clinical trials, including data management,
It is very important to have quality standards and rigorous safety in the aerospace industry. Aerospace manufacturers should always be up to date with the quality standards for supplying parts to the aerospace industry.
In order to get listed with major certifying bodies, you need to fulfil all the specific requirements that are required. Nowadays, it is mandatory to get aerospace manufacturing certification, in order to get permission for supplying products. They should also be aware of any revision related to certifications that they hold. Former aerospace pundits, with extensive experience in the industry, are often known to advice manufacturers through the entire process of certification.
Why is aerospace manufacturing certification important?
Aerospace certification is the only way to get permission to supply or manufacture aerospace products. Certification is developed by many bodies to provide aerospace manufacturing standards internationally applicable to everyone. An extra amount of stress is laid on product traceability and regulatory compliance by configuration management and subcontractors.
Aerospace manufacturers should give emphasis on improving the system of quality management between their audits. For companies that supply raw materials for aerospace industry, even they should produce
Epimedium, also known as horny goat weed is a herb that has been used for centuries in china and other parts of the world. The active ingredient in the herb is icariin that works by relaxing the smooth muscle tissue. The weed has many applications including:
Due to the active ingredient that relaxes the smooth muscle tissue, the herb encourages blood flow which is a key component to sexual desire. According to professionals, the herb also contains a few alkaloids and plant sterols that have the same roles as testosterone. You should note that the herb boosts libido in both men and women.
Bone loss prevention
According to a bone and mineral research study, people that received the herb in the form of a pill showed increased bone loss prevention. This is proof enough that the herb plays a vital role in promoting bone health. This aids in preventing bone diseases such as osteoarthritis and many others.
Scientific studies have shown that epimedium brings about a balance in estrogen and estradiol levels in women. The balance comes in handy in women that have great hormonal fluctuations