2 minutes Read We have reached the last leg of our journey with business models. So far we have seen ten types of business models. We still have five to go.  11. Low-touch Example: IKEA Companies that use a low-touch business style charge less for the services they do offer. Budget airlines and retailers of furniture like IKEA are two of the best examples of this type of business model. The low-touch business model dictates that in each of these scenarios, clients must either pay for additional services or perform some tasks on their own to keep costs low. 12. Marketplace Example: Airbnb […]

2 minutes Read This is the second chapter in the series on understanding the various business models. In the first article, we saw the following business models:  Advertising Affiliate Brokerage customization Now, let us look at some more!  5. Crowdsourcing Example: Kickstarter You are crowdsourcing if you are able to assemble a sizable group of people to provide material for your website. Although there are many other variations of the model, crowdsourcing business models are most typically used in conjunction with advertising methods to create revenue.  For instance, Threadless allows designers to submit t-shirt designs and pays them a share of sales. The […]

2 minutes Read The biggest hurdle you’ll have when beginning a business is unquestionably understanding the problem you are solving for your clients. Customers must desire the thing you are selling, and it must also address an actual issue. But developing a successful business requires more than just making sure your product meets consumer demand. Finding a way to make money is the other essential component. Your business model is now relevant in this situation. What is a business model?  The strategy your company uses to generate revenue is called a business model. It explains how you provide value to your customers at […]

2 minutes Read In the first part, we checked out 6 critical reasons why we need a business plan. Let’s pick up right where we left off and review the remaining reasons.  7. Identify critical cash flow problems quickly Understanding and keeping an eye on your company’s cash flow is the flip side of those important expenditure decisions. One of the three important financial statements you’ll compile for your business plan is your cash flow statement. (Your income statement and balance sheet are the other two) (P&L). Regularly reviewing your cash flow statement as part of your routine assessment of your company plan […]

2 minutes Read There is no doubt that starting and maintaining a business requires a lot of labor. But it also offers a lot of rewards. And having a business plan is one of the most crucial things you can do to improve your chances of success. Regardless of the size or age of the organization, a business plan is a fundamental document that must be included. A business plan assists you in reaching significant milestones and expanding in the proper directions, from luring possible investors to maintaining your company’s orientation. That being said many entrepreneurs find the task daunting and wonder whether […]

2 minutes Read SaaS (Software as a Service) has grown to be a very popular approach for the creation of new software products over the past ten years. Product development expenses make up the bulk of a SaaS company’s startup expenditures. This covers the creation, creation, release, and improvement of the SaaS application. Luckily, there are some steps business owners can take to optimize their development costs. Let’s find out what they are! Optimizing SaaS Development Costs Your expenditures can be better handled if you have a thorough understanding of the SaaS product development process. We’ll talk about several key techniques for streamlining […]

2 minutes Read When it comes to valuing company interests in the community, the rule of thumb has a long history in the business sector. Shareholders estimate the approximate values of their interests using industry standards and general guidelines in order to save on the costs associated with formal valuation reports. This method operates in accordance with various situations where the rule of thumb may be more or less useful. Today, we will cover what exactly it means and where to use it.  What are the rules of thumb and business valuation?  A company’s interest may be materially undervalued or overvalued using valuation […]

2 minutes Read It could be difficult for your startup or small business to compete with big firms for top talent. To attract elite personnel, you’ll need more than charm, network, and business savvy—you’ll also need a budget that matches.  If you’re not sure if you can afford it, research the many sorts of funding that can be available to you in order to assist you to build the finest team for your company without going over budget. Here are some considerations to make as you develop your startup recruitment strategy. A competitive package Although having a passion for a startup team is […]

2 minutes Read Your ability to put together the greatest talent possible will hugely affect the future of your business. According to a recent CB Insights report, 14% of businesses fail because the wrong people are on the team. Your business has a rare chance because of the enormous number of unemployed job seekers currently on the market and the numerous others looking for new career opportunities elsewhere. Here’s how to build your startup’s dream team when you’re ready. Qualities to look for in an employee Be sure to keep the following qualities in mind as you begin your search for the ideal […]

2 minutes Read No matter how big or small your company is, maintaining solid accounting practices should always be a top responsibility. It is obvious that knowing your company’s financial situation will enable you to differentiate between working capital and cash flow while making judgments. Cash flow does have a tendency to be impacted by working capital, therefore the interaction between the two can occasionally be unclear. While they might appear to have some overlap, both of them are crucial to the operation of a firm and they focus on two different criteria. They are all rather simple to use if you understand […]