Every merchant knows that in the business world, there are good days and slow days. Customer preferences can change in the blink of an eye, and the market landscape shifts just as quickly. That’s why relying on more than one revenue stream isn’t just a smart strategy—it can save your business. During slow months, changes…
There are various metrics used to measure a company’s financial health and performance, and one of the most important ones is revenue. Surprisingly, this metric is often confused with other financial terms, and not many business owners know how it’s calculated. Simply put, revenue is the money brought by a company from selling goods or…
No matter whether you’re the business owner of an existing company or are planning to launch your first business, there’s one thing that you won’t be able to succeed without – a business model. In short, a business model represents a framework outlining how a company creates, delivers, and captures value. However, there’s much more to it. Having…
Running a business means managing a constant stream of expenses and obligations, from paying suppliers and employees to covering rent, utilities and taxes. But what happens when bills are due and your money is tied up in products you haven’t sold yet or invoices that haven’t been paid? That’s where current assets come in. So,…
Assets are the most important resources a business owns, but not all of them are created equal. Understanding the difference between long-term and short-term investments is key to managing your finances effectively. While current assets are the resources your company owns and plans to convert into cash within a year, non-current assets are the backbone of your…
As a business owner, you’re juggling a lot—finding new leads, keeping existing customers happy, and making sure every pound you spend is worth it. But here’s a question: are you focusing your sales and marketing efforts on your most valuable customers—those who will bring the highest revenue to your business? That’s where understanding customer lifetime value (CLV) can make all…
Running a hospitality business has never been easy, and in today’s fast-changing world, the challenges are more complex than ever. With people growing more and more environmentally conscious, sustainability and eco-friendly experiences are brought towards the forefront. Having to adapt to evolving guest expectations while maintaining their identity, businesses in the sector face a constant…
In modern times, we often hear the term sustainability. It is used in a wide variety of topics – from people’s everyday sustainable life to business and corporate sustainability. Ecological limits are a hard topic to talk about head-on. But it is becoming more and more apparent that without everyone’s help in reducing negative environmental practices,…
Small towns have a unique charm and friendly vibes. The pace of life is slower and the stress of the big cities doesn’t follow suit. If you’re an individual who is independent and doesn’t want to work a nine-to-five job but you like the appeal of small towns, then considering opening your own business is…
Suppose you’re passionate about retail and are considering a new business venture. In that case, chances are you’ll find yourself at a familiar crossroads – brick and mortar vs eCommerce. Although online and offline retail are part of the retail landscape, they are unique and characterised by specific features. Understanding how online and physical stores…
Starting your own business is an exciting and tempting opportunity that can help you achieve financial freedom and forget about your nine-to-five routine. However, the most common barrier to getting started is the initial investment required to launch a business. In the following sections, we offer a list of 18 low-cost business ideas with high…
Banks and financial institutions have their own language and terminology for communicating certain actions and transactions related to your bank account. One of these terms that is frequently misunderstood is a pending transaction. If you diligently check your mobile banking app or online banking to get an up to date picture of your account balance,…
Do you feel it’s time for your business to move to the next level and explore the opportunities hidden in foreign countries? Tapping into a new market can be extremely exciting and rewarding. However, it also comes with challenges and factors to consider closely. The following sections introduce 21 must-have elements of a smart market…
Setting up your own business and becoming an entrepreneur is an exciting opportunity that can turn into a vastly rewarding journey. However, regardless of your age, gender, sexual orientation, socioeconomic status, or even the type of company you want to start, specific entrepreneurial skills can help you take your company to the next level and…
If you’re a business owner, making a distinction between customers and consumers is a must. These two groups of individuals relate and engage with your business in completely different ways. Acknowledging these differences and having a better understanding about what each group represents can help you craft better marketing messages, improve your sales, and overall…
