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Business growth is one concept that has proven difficult to describe in a widely accepted term. The reason behind this disagreement could be because the concept of business growth is subjective.
So you just started a new company or you have plans to do so. You have a great product idea, you’ve formulated a marketing strategy that you believe will work and you’ve saved up a chunk of cash, nothing much, but enough to get your startup sailing. There’s only one thing you haven’t figured out yet, who should you bring on board?
Everybody loves to get things done right and doing so at the first attempt brings untold joy. To achieve this kind of result, we typically push ourselves to spend time - too much time - preparing. You must have heard that preparation is important, especially for something like starting a business. This is true. However, it is unhelpful to over prepare.
You would probably be wondering what a scaleup company is, and how it differs from a startup. If you’ve never heard the word before, a scaleup is a stage in which a business gets to when it just grows out of the startup stage. The word is equally used to refer to businesses which are in this particular stage of growth.
Being in business is a true challenge. You have to hold meetings, execute plans, source funds, manage expenditures, respond to customers, incorporate feedback, and do a whole lot more. Performing these activities would seem demanding especially for new entrepreneurs. As a result, many of them lose momentum and end up abandoning ship. The best entrepreneurs beat this unfortunate trend by building business consistency through a number of habits.
What is strategic planning? Strategic planning is a process to establish a vision and common goals for a business. The biggest reason why owners or founders do strategic planning is to get everyone to understand the business plan and act on it.
Starting a new business? If so, we are sure you already know how tightly competitive the market is. No matter how innovative your company is, or how unique its niche is, there is always competition to think of.
Running a Startup might be your dream thing but sadly, dreams don’t always come through and entrepreneurs deal with this the most. Startups exist in phases.
The one thing that distinguishes living things from non-living things is growth. So it is only natural that if your business is alive and thriving, it is expected to grow. Otherwise, that would mean the business is well…..dead in the waters.
There’s a high chance that you’ve gone through a job description or perhaps had a meeting with an employer which or who resounded a need for candidates who work hard.
The difference between the rich and the wealthy is probably that the first has a lot of money whereas the second has assets.
Obtaining the necessary financing to start a business is a challenge for many entrepreneurs. In fact, for many startups, not getting funds for their project represents a sentence to failure.
Do you have a startup with an idea that’s bound to change the playing field? One that is capable of becoming the next Google, Tik Tok, Uber, or Airbnb? That’s great, as long as you can get people to know about it. No matter how great your idea is, there is no point if you can’t get it across to those who need it. That’s why marketing is so important
Funding remains the sole driver of any startup business. It is the oxygen that sustains every business idea and breathes life into it. Every business needs funding to run its activities;
As a founder or entrepreneur who has an idea for a company. It is imperative you get as much knowledge about starting or running a business. This knowledge goes beyond academic qualifications.
Every successful business was once an underdog fighting against giants in the industry. However, they managed to turn the table around to become the giants that other underdogs have to face off against. This isn’t personal, it’s business and in business, there’s a battle line drawn between startups who are the underdogs and established companies.
Bankruptcy, that’s a word every entrepreneur dreads because it often signals the end of a dream. When a business or individual goes bankrupt, it means they are unable to pay off debts and handle other financial obligations, so they file for bankruptcy.
Here’s a curation of some facts about Startups and their Founders that we think you should know about.
Are you a founder looking to start your own business? We know how difficult it can be and the pressure to get the first step right.
Every founder knows that the first few years are the most difficult ones in the life cycle of a startup. This brief period of time that stretches between 1 to 10 years will determine if the business will survive or not.
The word startup is very common in the tech world. However, startups are not exclusively tech companies. They can be found in different sectors including healthcare, Business-to-Business (B2B) software and services, consumer goods and services, financial technology (fintech), and consumer media.