Regardless of what you believe about the coronavirus pandemic, the volatility of today’s economy should put you in a panic mode. We are not prepared for a pandemic. No country in the world was prepared for the pandemic. There has never been anything as catastrophic to the economy as the pandemic. Everything stopped. Everything you
To many aspiring entrepreneurs, a food business is the most exciting venture. Consumers are easily drawn to it, always curious about the new restaurant in town. If you’re clever and lucky, your place may become the central hangout spot of teens on school holidays. There’s something about food, especially from fast-food chains or restaurants, that
Managing a business is not all about attracting the right clients or amassing profit. There are things a perceptive entrepreneur can do to make their business successful. One of them is to take care of the people who keep their business running. Who are these people? These are the employees. A wise entrepreneur knows that
Opening a startup is never easy. As an entrepreneur hungry for knowledge, you know that there is a learning curve when you gear up your small business for success. Of course, one of the risks that come with opening a business is that mistakes will always be made. While it might sound so easy on
The recent happenings in our world have challenged how our activities affect nature, so we must be warier of our actions from doing further harm. It is not always enough to incorporate environmentally friendly ways into our homes. We must uphold them in our business endeavors, too. Taking a turn for your business and making
Diversifying your business’s income stream to make more money in your business no matter the scale is a piece of old advice. However, in today’s dwindling economy, it’s advice that’s worth taking. One of the most efficient and least risky ways any business owners can increase their income and profit is by making better use
One of the best ways to meet people in your industry is through socializing events. Attending such events will provide you with an opportunity to mingle with seasoned business owners and learn about how they adapt to the demands of your market. But unfortunately, events like these aren’t held too often because there might be
The effects of COVID-19 continue to impact businesses worldwide, and with no end to this health crisis in sight, businesses are left searching for different ways to stay afloat. An economic report done by Yelp shows that by September of last year, more than 97,966 businesses had gone from a temporary shutdown to a permanent one. If
The global economy isn’t looking too positive, and a global pandemic that threatens the lives of everyone still rages on. Many companies have fallen during this year-long stretch of social distancing and quarantining. Simply put, the economy isn’t in good shape, and everyone fears that this may be the case for the next few years.
Business owners are one of the most affected by the pandemic. And although it’s been difficult to survive during these times, there are many lessons for business owners. 1. Have an emergency fund prepared There’s a famous line people say all the time: “Plan for the unexpected.” But as the pandemic has proven, it isn’t