Running a Business

Why Every Small Business in India Needs Insurance

According to the former Chief Justice of India, Deepak Mishra, more than 3.3 crore legal cases are pending in India in 2018. If you are a business owner who doesn’t want to join this ever-expanding list, you should consider getting insurance for your business. It will ensure that you (the business owner) and the entity you have formed stays away from court cases and resolves disputes in a comparatively easy manner. In case you are sure that your business in India needs insurance, you should find out which insurance do you need most. Though there are numerous types of insurance you can opt for, the most highly recommended ones are mentioned right here. 1.  General Liability Insurance This business insurance ensures that you, your products or services or your employees get protection if some...

The Importance of Marketing Your Beauty Spa Business in India

Every spa owner hopes of ensuring that more and more customers walk in the door and leave it after being thoroughly pampered. Some spa owners face problems in ensuring that the customers walk through the doors because they don’t pay enough attention to marketing. If you are one of them, then you need to know the importance of marketing your beauty spa business in India lies in helping you to get more customers and be a brand. In case you don’t know where to start your marketing efforts, read the following steps in this article that I have applied to my business and you’ll do fine! 1. Make Customers Members The first thing you can do after you realize the importance of marketing your beauty spa business in India is to focus on current customers. You need to start a membership program and al...

Is a Coworking Space Right for You?

If you’ve been looking for an office for your startup, you’ve undoubtedly been shocked by rental prices, overwhelmed by the idea of furnishing the place, and have likely considered just working out of your house or a coffeeshop until the business makes some money. With co-working spaces – fully equipped, beautifully designed, furnished offices that are devoted to providing desk space and flexible leases for startups and SMEs – gaining popularity, there’s now a less traditional, very appealing office option that many company founders are looking into. But are co-working spaces really a good deal? And would one be a good fit for your team? We’ve listed a few things you should keep in mind when considering a co-working space and whether or not it’s a smart real estate option for your venture....

Report: Why 30% of F&B Businesses in Singapore Fail Every Year

1 in 4 F&B businesses in Singapore churn out of business every year. Many close within the first year of operations. This is the case across segments, from hawkers, to cafes and even high-end fine dining restaurants. Reputable Michelin stars restaurants too, have been leaving the scene. Why is it that even F&B operators with S$150-550m in revenue only have 5-7% margins. How do they then also command a respectable 25%+ return on capital? In June this year, we conducted close to a thousand surveys with F&B business owners across Asia. Many shared common challenges – people, off-peak demand, competition. (Read Full Article Here) Despite the many tech and software start-ups helping to create change in the F&B space, it is a highly challenging business to be in. This (somewhat l...

Why Your Beauty Store Location Matters in India

Opening a beauty store in a country like India where almost everyone wants quality at the best prices is not a decision to be made lightly. Many Indian business owners have the perception that they should be saving on rent unfortunately this leads to businesses often choose the wrong location. You should not make that mistake, especially if you have a beauty business. If you are wondering why your beauty store location matters in India, you need to read on. Here we’ll help you know about different factors you need to know before opening the first beauty store at a suitable location. Costs Matter The first thing you need to remember is that the cost of setting up a beauty store will vary a lot on the basis of location. For instance, if you rent space in the Patel Nagar area of Delhi, the co...

[Part 3] What To Do When Your Restaurant Business Runs out of Cash

As small business owners it's important to monitor the cash flow of your restaurant business. We've got you covered with these 4 tips that are sure to help you monitor your businesses cash flow so that you'll always have reserves!

How To Retain Your Lead Hairstylist

Are you a hairdressing business owner concerned about managing and retaining your hairstylists? Many salon owners often seem to struggle the most with employee management. Did you know that the lead hairstylist of your salon is among the most valuable assets of your business? In fact, they can help take care of employee management for you! Here is how to retain your lead hairstylist in just 6 simple steps: 1. Keep Your Hairstylist Happy and Motivated Almost every loss of an employee equates to a loss in clientele. Behind high turnover rates often lie unhappy employees. Identify the needs of your hairstylists and know what motivates them to work. Then, develop a personalised goal plan for your hairstylist. Tailor rewards, incentives, and your broader vision accordingly with the goal plan. F...

Why E-commerce is Way More Competitive than Offline Retail

With rapid digitalisation paving the way for e-commerce, the idea of dumping brick-and-mortar retail for online retail sounds all the more convincing. Retail no longer requires opening a storefront! Before you heave a sigh of relief, note that this newfound convenience comes with a price. And that means more competition! Here are four solid reasons why e-commerce is way more competitive than offline retail: 1. Lack Of Natural Traffic Brick-and-mortar stores have always reaped the benefit of having natural traffic. However, for online stores, driving in traffic will require more effort. Lacking in physical visibility, online stores will need to allocate a sizeable amount of marketing budget on digital marketing and advertising. Some of the strategies that will need to be utilised by online ...

 4 Steps to Save Your Dying Business in Malaysia

The implementation of GST in 2015 resulted in both the good and bad. While some businesses welcomed the move, there were also many businesses that were badly affected. In tandem with the rising costs of expenses, frugality became a focal point of Malaysian locals. As such, business owners felt wary of their stability, particularly due to a lowering of consumer purchasing power. Many felt as if closing was the most viable option. While signs of better times are on the horizon, the opportunity costs for businesses that are or have been suffering seems risky. If you are a small business owner who is thinking of shutting down, here  are some tips you can take to save your dying business! 1. Assess Your Situation Truthfully

3 Insights To Engaging Baby Boomers in E-commerce

baby boomers It seems that the world of e-commerce has been tailor-made for millennial’s. On a canvas of flashy retail and over-hyped bargains, there is an obvious deficit in the way baby boomers are approached.  In a study between smartphone use and age-groups, older folks of 51 years and above were accounted for at the lowest percentile.   While most see baby boomers as an unworthy segment, there are some businesses that see them as a niche target. As the smartphone becomes more of a necessity than a privilege, we are compelled to bring you some methods of approaching this growing segment of consumers.   1. Pose Benefits

4 Things Indian Startups Should Focus On Developing

अपने फेसबुक या लिंक्डइन अकाउंट के साथ लॉगिन करें 4 पहलुओं को जानने के लिए भारतीय व्यवसायों को विकास पर ध्यान देना चाहिए!  

10 Ways To Make Your Store Millennial Friendly

Millennials run the world. Thinking you can ignore this demographic is definitely a mistake. According to Huffington Post, Asian millennials are the new big spenders in the global consumer market. In Asia, they make up a sheer 410 million of the total population and they are equipped with high purchasing power. Want to find out how your store can latch onto this demographic? Below are 10 tips I have learnt over the years as a store owner myself. 1. Consider Seamless Payments

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