Have a business to sell or looking for a new opportunity to invest in? Look no further, as Tobuz is now your No.1 trusted choice to buy or sell businesses. A secure and 100% confidential online portal, Tobuz makes business trade processes to be easier than ever.
Owning a successful business model brings up a thought for expanding, but how do you grow your business without spending millions? Franchising is a growth opportunity for business-owners which allows entrepreneurs to sell the rights of their establishment to another person to open another unit of the same business. In a franchise agreement, the buyer pays the business owner a percentage of the sales by operating the replica of the brand which follows the same business structure as the parent company. Both the franchisee and the franchisor benefit by this expansion as the brand builds a name for itself in another location and the sales depend on the reputation.
When it comes to appreciating employees, the sky is the limit- they are never going to feel over-appreciated. It is not necessary to show your appreciation by offering bonuses or monetary incentives, gratitude is far greater than that. No doubt that money can be a huge motivation, but you need other ways to engage with them rather than paying them off which will result in more loyal and hard-working employees. There are many ways to show your employees that you actually care about them and appreciate all their hard-work without breaking your budget and to ensure constant productivity. It’s all part of motivation and retention, of course. Employees who are appreciated on a regular basis tend to be happier as they feel valued and it then reflects in their work too. Start small with these easy ways to demonstrate your appreciation towards your employees and watch the wonders it can do:
“Leaders are meant to be tough to fight, tender enough to overlook, human enough to make mistakes, but most importantly, humble enough to admit them and brave enough to fix them!”
Mistakes are learning opportunities for individuals, however it is much better to avoid them in the first place. Being a leader is definitely not easy, there will be numerous decisions that you will be expected to make, some may be favorable for you and some might go wrong too. Although some mistakes are inevitable, there are a lot of blunders which can be avoided for you to be a better leader. When you are running a business, and managing a number of employees, there are always lessons that need to be learnt and improvements that can be made. To be a wise leader, you need to analyze yourself and recognize your weak points to start correcting yourself for your personal development. Here are seven common mistakes that leaders at all levels struggle with, and how you can make an effort to fix them:
OK, you have just bought your dream business, now what? Whats the next step after you are a proud business-owner of an already established firm? How do you go about in managing a running business? Here are the first important steps to take after buying a business:
When the going gets tough, the tough get going, but how do you get going when you face a rough time during your business journey. Success definitely lies after a bunch of hurdles and all you need is patience, persistence and determination to get across where the grass is green and the sky is blue. What determines success? How do you define being successful in your business? Business is a never-ending journey and there are no destinations but success is not measured by the distance you have covered or how far have you reached, it is rather measured by your achievements along the way, the letdowns you have faced and how it molded you to be a problem-solver.
What could possibly be adverse being in charge of your financial future? Being your own boss – how can it not be in your favor? The idea sounds perfect to almost everyone- own business, own routine, own workplace, own setup and own decisions. Where could things go wrong? How could anything be wrong in here? Well, the bad news is that entrepreneurship is a bitter-sweet fruit based on the chances and risks you take and it really can make you or break you. Many of the aspiring business-owners are not aware of the statistics associated with entrepreneurial success or failure. It may come as a surprise to you but most startups fail within the first year of their launch due to a number of reasons- the main reason being the failure of the business-owner to keep up with the business. There are many things that first-time entrepreneurs wish they knew before taking the plunge so that they would take well-informed decision. While the allure is pretty strong, there are some harsh realities that you should realize before jumping in. So, what are the top things that break the fantasy of the perfect entrepreneurial life? Why is entrepreneurship not everyone’s cup of tea? Here are a few reasons which might make you think twice about your decision to quit that job and take the blindfolded leap:
It’s not an easy task.
Ever thought why the CEO of a small business is working more than they should? Staying up late in the office, rarely going home other than the weekends, having their heads stuffed in management, marketing, development and practically every aspect of the business, these are some of the few telltale signs of a true entrepreneur.