A Business Continuity Plan (BCP) is usually very helpful for any business. This is mainly because every business faces emergencies or disasters that can hinder its continuation. If your business does not have a continuity plan you might be forced to close down in case of emergencies or disasters. This makes it paramount to know exactly why having a business continuity plan is crucial for your business.
Big Data, in simple terms, is the practice of analysing extremely large sets of information in order to glean valuable insights into any number of vital business practices; from customer service to logistics and everything in-between. It’s proved to be an invaluable source of information for the world’s largest businesses and now influences key stakeholders decisions on a daily basis.
Due to the complexity of the algorithms organisations need to create in order to determine trends and gain intuition, Big Data is often seen as the exclusive preserve of Blue Chips and multi-nationals. This is, considering the amount of time and money that companies need to invest in order to create said algorithms, an understandable position. That said, there are large organisations whose business models are reliant on allowing businesses of all shapes and sizes the opportunity to use their algorithms in order to achieve their goals.
Who wants to wait days, or even weeks, for their online order to arrive? Or worse, who wants their order to arrive in poor condition? Certainly not your customers. Your business’ shipping strategy is crucial for both you and your customer, and working to improve it even more so. No matter how great their buying experience may have been, inadequate shipping resources creates an overall poor experience for your customer.
In this post, we’re detailing some of the best ways you can work towards streamlining your shipping strategy, all to ensure that your customers receive the very best experience when interacting with your business.
Your business is growing, and this is a wonderful thing. Yet as this occurs, a question keeps creeping up in the back of your mind: Where did all my time go?
This is a common trend among the more hands-on entrepreneurs, and while an active approach is something to be applauded, the need to delegate tasks, even important tasks, becomes more present.
If this is not something you naturally do, don’t worry. Delegation is a skill that you can learn just like any other, and we encourage you to seek out those resources for the benefit of your business. Yet first, here are a few more reasons why we stress the importance of delegation:
However you feel about online reviews, they’re an unavoidable part of running a business today. Over 90% of online shoppers check reviews before purchasing, which means it’s vital to provide prospective customers with this opportunity to check your reputation.
What do music, word processors, and taxis all have in common? They are all moving toward business models based on access, rather than ownership—the fundamental principle behind the sharing economy. Rather than having a small group of people owning taxis and driving people around, apps like Uber and Grab enable everyone driving a car to pick up a passenger during their normal commutes. But this idea won’t work in every field, everywhere; certain foundations need to be in place first.
Running a business is an exercise in collaboration.
You have sales and marketing teams to push products and services out of the door. The IT guys ensure the business has the tech infrastructure to support what it does. The HR department manages and takes care of employees. And then we have the finance department to make sure every dollar is well-spent.
Different departments and responsibilities. But everyone works towards the same goal of providing value and generating profit - at least that’s how it should be.
Increased collaboration is an essential ingredient in a high-performing and productive workforce. If your office needs a little boost in collaborative spirit, the following best practices will help you get started.
If you’re in the stages of starting a new business and looking into funding, you’ve probably come across the term ‘crowdfunding’. Crowdfunding is one of the fastest growing methods of funding new businesses and products, allowing you to pitch your idea/product and receive the validation and financial backing you need to get started.
However, be warned that crowdfunding isn’t an easy alternative to traditional funding, it takes a lot of time, effort and planning; three things necessary to launching a successful business.
If you’re ready to seriously consider crowdfunding for your start-up, I’ve put together some tips to help you get started:
When you run your own business, you’ll find that your mind is often focused on your business – how to grow it, how to run it better, how to improve sales etc. Having your business constantly on your mind isn’t actually a good thing and can often lead to stress, burnout and lower productivity levels.
How do we combat this? By practising mindfulness.
The dictionary defines mindfulness as "a mental state achieved by focusing one's awareness on the present moment, while calmly acknowledging and accepting one's feelings, thoughts, and bodily sensations, used as a therapeutic technique."
But what does this actually mean? And more importantly how can you use mindfulness to boost your productivity? Keep reading to find out.
I know what you’re thinking, “Not another New Year resolutions post!” You’re right, they’re everywhere at the moment. We’re three weeks into 2018 and we’re being hit left, right and centre with New Year resolution suggestions for our personal life, work life, family life etc. It’s a little overwhelming.
The thing is - these articles all have a point. The New Year is the perfect time to reassess your business goals and strategies, to reflect on what you learned over the previous year and to implement new ideas that can take your business forward.