One of the most important goals of a business owner is to keep the business profitable and successful, but giving back to the community is what makes it more meaningful. A business with a sense of social responsibility makes a business owner feel more satisfied in giving back and it’s also more attractive to its
Everyone needs to work hard to make a living, whether by rendering their services to a company or establishing a business of their own. However, besides earning an income, there are other factors that you should consider, especially if your goal is to become an owner. Yes, having a unique idea for a product or
By giving your service to others, you help them, you help yourself, and in terms of a cumulative effect, you help society. From the economic perspective, the concept of service is slightly different, but the results are much the same. In economic terms, service is defined as “an economic activity (e.g., labor) offered as a
Many businesses strive to promote customer loyalty through retention for a lot of good reasons. First, they are likely to spend more. One statistic suggests that increasing customer retention by only 5 percent can increase sales by around 125 percent. In another report, loyal customers may spend 10 times more than new ones. Upselling to
These days, more companies and organizations are becoming aware of the importance of sustainability practices. By incorporating green methods and habits in the workplaces, businesses can reap significant financial benefits and appeal to more modern consumers. But depending on the business context, sustainability has different meanings. In terms of business and employment practices, sustainability can
These days, entrepreneurs are not simply in it for the money. More and more people are investing in different business ventures with two main goals. One is to gain enough revenue to grow a successful brand. The other is to fulfill a corporate social responsibility. But why be a social entrepreneur when one can simply
Starting a business in the rental property industry is always a smart move because there is no shortage of people looking for potential homes. This makes becoming a landlord with your own property a wise career choice and long-term investment because you can be your own boss while getting passive income. But the upfront costs
Digital transformation is your key to success in a competitive market. Think about it. With the pandemic changing the way we internet, not having an online presence can be fatal. It’s no accident online orders are up while America is placed under a slew of restrictions and virus quarantine orders. At this point in time,
Running a business is already difficult enough. Add to the mix the long list of laws and regulations you have to comply with, and your job just became more challenging. Regulatory compliance is the bane of many entrepreneurs, but you can turn a source of inconvenience into an opportunity if you play your cards right.
The ongoing COVID-19 doesn’t show any sign yet of ending, even as several big-name pharmaceutical companies have developed vaccines and are now taking orders from governments across the world. The industry is among the many industries that have stepped up and went to great lengths to help the concerted efforts to fight the ill effects
