Connect with us

abandoned-factory-shuttered-business

There is something inherently sad about a building that used to house a business. It was once where someone channeled their hopes and dreams of business success; now, it is a shuttered husk with little purpose in life.

These businesses might have failed for any number of reasons, no matter what they were. The gas station where the owner didn’t ever quite get the price right; the boarded-up shop that was a little bit too niche for its location. If you look beyond the signs of dereliction, there’s a real chance the business was a good idea – it just didn’t have the right person behind it to make the dream a reality.

If you have been thinking about pursuing a business venture, you could do worse than to begin your pursuit with shuttered businesses. Most already have the infrastructure still in place; the building might need sprucing up, but that’s easily dealt with. For the gas station, a gas station canopy repair can make it look like new; while a shop might need a paint job and then it will be back to a sparkling bastion of retail might. When everything is looking as it should, you will see there’s plenty of life you can breathe back into the business – after all, the foundations are there.

What Are The Benefits?

When you choose to revive a shuttered business, you’re going to be able to take advantage of the existing infrastructure that’s in place. For example, the gas station will already have supply lines and fuel pumps – they might need some tidying up, but they’re functional from the off. A shop will already have an established address and a decent layout for retail; the basics are already in place.

This means that you’re able to hit the ground running. You don’t have to search for land, go through works to get the company functional – the basics are all there, just waiting for you to take the reins.

Who Does This Kind Of Business Plan Work For?

Without a doubt, this kind of plan works well if you are entering into business for the first time. There is so much already there waiting for you, that means you can just focus on dipping your toe into the water for the first time. You don’t have to worry about infrastructure, securing a building or permits – it will already have been done, so it should be far easier for you.

What If It’s Not Your Dream Business?

When a person considers entrepreneurship, they tend to have an idea of what they want to do with their career. So why would someone who always dreamt of running a shop want to try a gas station, or a wannabe farmer see the benefit in running a store?

Sometimes, waiting for the perfect opportunity that absolutely suits your business goals isn’t going to be possible. It’s best to learn the ropes where you see a good opportunity, then you can take things from that point onwards.

Is It For You?

That depends! But if you want to try it, it’s really not a bad place to begin, so why not consider it at the very least?

Use your ← → (arrow) keys to browse

Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.

Continue Reading
Comments

Business

How To Make Business Life So Much More Favourable

Published

on

If you have a business or you’re heavily considering starting a business, then you’ll know all about the perils and the difficulties that will come with it all. While it seems like such a wonderful idea from the outside looking in, it’s actually something that can really take its toll on you if you’re not prepared enough both mentally and physically. 

You’ll always be looking for ways to make business life an awful lot more convenient. The idea in this game is obviously to work hard as you never get anywhere without a serious commitment. You’ll really want to focus on working smart, however. Hard work for no reason is foolish when you have much better ideas and techniques staring you in the face. Business life can be a real hassle if you get things wrong and have to go through laborious days. Here are just a few ways to make your days, weeks, and months a lot more favorable for you: 

Get The Right People Around You  

Who you share your time with in business matters so much. If you have all of the wrong people, then you could be on a downward slant over the next few years. If you have good people with the right attitude and intentions, then you’ll likely become a lot more successful. In terms of using the right people, we’re talking about networking, hiring staff, bringing in specialists, soliciting advice, and so many other areas. Business is an interpersonal game, so make sure the right groups and individuals work with what you’re trying to achieve. 

Embrace Technology A Lot More Than Perhaps You Are Right Now 

If you’re already someone who wants to milk every platform they have, then this idea won’t worry you too much. There are so many pieces of ai powered software around that will help you with what you’re trying to achieve. Analytics, ads, management, and so many other areas can be bolstered with good programs. 

Set Up Genuine Plans With Achievable Goals 

This sort of goes without saying because you’ll likely have plans for the tasks ahead. This is more the idea of creating more structured plans for areas that are perhaps freer and less structured. Setting goals for everything you do can lead you to understand more about what needs to be done. It also gets everyone even more motivated. 

Take Care Of The People Working With You 

In terms of those you’re with, you’re going to need to treat them properly. It’s amazing what can happen if you neglect how they feel and the work they put in. The best leaders will always hone in on each individual and check in with them. 

Outsource Certain Jobs That Are Tedious

Sometimes, there are particular tasks that – although they need to be done – take up lots of unnecessary time and stress. If you are outsourcing admin, for instance, it makes life a lot easier for you as you all can focus on the productive and progressive side. 

Prev postNext post
Use your ← → (arrow) keys to browse

Continue Reading

Business

Current Trends in Business That Every Entrepreneur Should Work Towards Achieving

Published

on

buy-a-business

The world of business is changing and with it the trends that entrepreneurs should be working towards. Entrepreneurship has become a lifestyle as opposed to just a paycheck. With an entrepreneurial mindset, you can do anything. Check out these current trends in business that every entrepreneur should work on achieving:

E-Commerce

E-commerce has been a significant trend for the past few years, and you can expect it to continue being so. E-commerce has multiple benefits, including increased revenue, high availability of products, and a more significant customer base.

E-commerce allows businesses to be present on all digital platforms, which helps them reach out to more customers quickly. In addition, it makes it easier for companies to reduce overhead expenses as there are no physical stores that have rent costs associated with them or inventory levels that need maintenance constantly. Statistically, e-commerce has grown rapidly in the past few years from 25% – 30% year on year.

Financial Apps and Software

The software aspect comes into play when considering how businesses manage their finances moving forward. Companies must adapt to technology. Otherwise, they will find themselves left behind by competitors who embrace emerging technologies such as cloud computing and mobile apps. It is also easier to make purchases using these apps and communicate with the sellers. Incorporating such software with equipment and partnerships with a payment processing company will diversify the business activities and set you up for expansion.

These apps allow them to move away from traditional forms of financial management such as spreadsheets and accounting software to financial management apps such as Xero. With these new apps comes the ability to monitor business finances from anywhere, which can help businesses grow faster than what they would ordinarily be able to manage with slower conventional processes.

Blockchain Tech

Blockchain tech is the current trend in business that every entrepreneur should work towards achieving. You can apply this technology to many different industries, and entrepreneurs need to find their niche within this growing market. It’s also critically important not to overlook blockchain tech when deciding which cryptocurrency or token you want your company associated with.

Both positive and negative factors are involved in choosing one solution over another, but it all comes down to finding what works best for each situation. For example, today’s most valuable aspect of blockchain tech is its promotion of secure transactions between parties while eliminating third-party transaction fees (or at least significantly reducing them).

It means that businesses operating on a global scale could potentially enjoy significant savings in maintaining financial records. Transparency is also an important selling point for blockchain tech. The decentralized nature of its design makes all transactions public and easily accessible by anyone who has access.

Fraud and Cyber Crime

Another current trend that every entrepreneur should work towards achieving is fraud and cybercrime. In today’s modern world, the internet has brought the business community closer together as it allows you to reach a global market from almost anywhere with an Internet connection. Unfortunately, this means those who want to take advantage of this have access to millions of more potential customers, making it easier for fraudsters to steal money from unsuspecting victims.

Businesses that are not careful can fall victim to several types of cybercrime, including phishing, spoofing, pharming, and identity theft. These crimes are increasing at an alarming rate as more people use the internet for business purposes which means scammers often target them.

Conclusion

Today, business is becoming increasingly challenging. The traditional ways of doing things don’t work anymore, and it’s time for entrepreneurs to adapt to stay relevant within the industry. However, the industry itself is evolving rapidly, and it’s challenging to keep up with the changes that are happening every day. Fortunately for you, this post is here to help you understand the current trends that every entrepreneur should work towards achieving.

Use your ← → (arrow) keys to browse

Continue Reading

Business

Employee Training and Development Becomes One of the Most Disruptive Megatrends That Is Shaping the Future of Work

Published

on

Employee training

There is no question about the effectiveness of employee training and development. It’s incredibly important to help your staff advance their skills and knowledge to help grow a business, but the impact of employee learning has often been understated and even neglected. However, companies are now suggesting that employee training and development is one of the biggest megatrends that have completely transformed the future of work. It has overhauled how businesses should be developing and engaging with employees, and it’s leading to an incredibly diverse and talented workforce that is capable of wonderful new things.

Part of the problem of employee training and development is that it’s difficult to measure its impact on the workplace. Employee performance often isn’t a quantitative measurement that is easy to read and link to their output. This is one of the reasons why the effectiveness of employee training and development has been questioned by management experts.

Thankfully, new strategies have been developed to help measure workplace learning and its impact on companies. Below, we’ve included a helpful infographic that covers some of the most important measurements, such as return on investment and how it is calculated in the context of employee learning and development. It should put the effectiveness of employee training into perspective and will help you better understand when training is needed and how development actually improves your business and its productivity.


Infographic by: Ezra Coaching
Use your ← → (arrow) keys to browse

Continue Reading

Trending