The most common types of business risks and how to face them

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When we ask business owners what risks they faced at the beginning of their business, they will tell you different things. What do you think, why companies don’t grow? As an example, the owner no longer wants to grow or is hampered by competition, a bad political situation, lack of employees or they do not have enough capitals.

True. But with a probability, the biggest business risk is operational blindness and the effort to solve unsolvable problems.

The most common types of business risks

Bad strategy with the wrong people

A lot of success stories start with an idea. The idea itself does not pose any risk, and there is a general belief that having a great idea is the most valuable thing in business. Without a quality person, the idea has no value. What is worth is a REALIZED idea. The right people in a team determine the … Read more

What are the most common business tools that you should use for your modern business?

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Business tools are technological inventions and innovations that a business owner can use to save time and money as well as automate tasks among others. To use most technological tools, you will require a computer and smartphone, which themselves are major tools that you need for your business. Some of the business tools that you should use for your modern business are discussed subsequently.

A website

One of the common business tools you will need to modernize your business is a website. Every company is not only expected to have a website today but they are also expected to make the website responsive with eCommerce features. This is expected to make it easy for customers to patronize you directly from your website, irrespective of their location. This is especially when you deliver your products and services to all or most countries. During checkout, customers will be expected to enter … Read more

Learn Business Before Doing Business

5 Lessons You Won't Learn in Business School About Running a Small ...

Becoming an entrepreneur is not an easy task

You have to wear lots of hats, especially when your business has just started and you are solely taking care of every aspect involved in managing your business.

Think for a moment and make sure you are ready for the job of being an Entrepreneur

This will involve many long days and nights. You will sleep late and wake up early with a full plate in front of you along with managing your business. This is really a full time job especially if you work alone without anyone else to delegate certain responsibilities that will shorten your daily list.

Being an entrepreneur certainly requires patience

There will be highs and lows on your journey to reach the place you want in your business. There will also be some mistakes made along the way but it will teach you what you don’t … Read more