When your business is in its early days, it’s natural to be thinking about what you need to do to gain investment and profit as soon as possible. But you’ve got to be careful about taking shortcuts, or about relying too much on emulating other successfully funded businesses in order to get ahead. While it’s smart to study up on how your competitors have achieved success, you’ll never get your own business right through a copy-paste approach.
As we head into 2022, when we’re likely going to see further impacts of the Great Resignation, it’s more important than ever that HR leaders and hiring managers get comfortable with these kinds of conversations. According to our Employee Movement and Retention Report, 55% of UK workers will consider seeking a new job in 2022. That’s a lot of job interviews, and a lot of salary chat!
As Amazon’s CTO since 2005, Werner Vogels has observed macro trends around the technology industry, giving him a unique perspective to distinguish substantive progress from mere fads. He recently published his views on what he sees in store in 2022 for cloud technology and the technology world in general.
For any business, you need market research or analysis to compete better. Market research simply gathers information from people to know the feasibility of a new product or service. With reliable market research, one can make viable decisions and take the right steps towards achieving their business goals.
At the start of the month, HMRC revealed that around half of the 12.2 million UK taxpayers who need to submit a tax return by the 31st January have yet to do so. With the deadline looming, over five million business owners are wondering how to make the process of filing their tax return as easy and efficient as possible. But, with recent research showing that one in ten entrepreneurs stores their essential financial documents in a drawer or shoebox, chances are the process of filling out your tax return is causing some stress.
Until a few years ago, it was quite common for us to treat ourselves to brand-new equipment and tick it off our wish list without thinking twice. However, times have changed, and we’ve all had to deal with some hardships along the way. Whether it is job instability or other personal difficulties, we’ve truly started to keep an eye on how purchases affect our finances.
The influencer entrepreneur culture is all around us, and it’s exhausting. It expects us to build our businesses and leave a running commentary as we go, creating on-brand content to match each stage in our ‘glamourous’ entrepreneurial journeys. Once we start, it is easy to get into a cycle of chasing likes and prioritising our feed before our wellbeing, and even our businesses.
I have been founding businesses for over 35 years and over that time I have managed to make almost all the mistakes possible when launching a startup. In the last 10 years I’ve also been involved in mentoring startups in various universities, business schools and incubators. It is clear that founders are still making many obvious mistakes: they continue to do the things they enjoy about a starting a business, rather than the things they need to do to make it successful.
With so much change in the workplace over the last couple of years, many employees may have found themselves falling into negative working patterns. These toxic traits - such as working too many hours or skipping a lunch break - could have a huge impact on wellbeing, job satisfaction and productivity.
Co-working spaces are an integral part of the startup ecosystem – they offer entrepreneurs equipped and comfortable workspace, in addition to being an affordable solution as compared to traditional offices. Many also choose co-working spaces because of their flexibility and opportunities to network.
It’s been a tricky year for business management. From pandemic fatigue to workplace burnout, startups of various sizes are faced with a similar challenge – to rethink and reignite employee engagement. Some might approach this as a one-off event – like a holiday bonus. But leaders in their fields know that it demands a long-term approach. It’s an opportunity to start listening to the needs of your team members and committing to ongoing adjustments.
If you’re serious about tackling B2B customer churn, there are several things you can do. One key strategy is to focus on building more revenue with your existing customer base. Before we go into that, it’s important to note that a state of zero churn is nearly impossible to achieve. It's going to happen at some point.
In this great universe, everything lasts for a certain period. It is especially true for the technology world as change happens there fast. The latest terminology metaverse, a new level technology, is the addition in that list that would connect our real life with the virtual world. Though metaverse doesn't exist yet, it will be a changed reality soon.
With the rise in popularity of cryptocurrency, many people are becoming more and more interested in this brand new form of investing and money-making. Since 2009, when bitcoin was first released to the public, cryptocurrencies have completely shaken up the world of finance, and have now become a mainstream form of investment. What once was a part of underground internet culture, has in recent years become something that the people we meet in everyday life discuss and are interested in. But, just what is cryptocurrency?
Automotive technology at CES has grown so much over the years that for 2022, the show devoted the entirety of its new Las Vegas Convention Centre West Hall to what is now widely recognised – if it were a stand-alone event – as one of the largest auto shows in the world. At the recently concluded celebration of technological innovation, show attendees witnessed the launch – or the visionary introductions – of such features as the color-changing BMW iX Flow, Cadillac’s InnerSpace automotive theatre (for when self-driving cars become a reality), LG’s Omnipod 'office in a car' and more.
Founded in 2017, by 2021 Primephonic boasted over three and a half million tracks, and was considered the world’s largest specialist library of classical music. It had become so successful that when Apple was looking to extend its music offering into classical music the obvious solution was to acquire Primephonic.
With more customers shopping online than ever before, retailers are being forced to either debut online or significantly increase their online presence. There are obvious and significant costs involved in moving online for retailers of all sizes. The opportunity to make up for lost sales by expanding or launching online has been a lifeline during COVID, but have retailers done enough to identify and tackle the hidden costs of eCommerce?
For the past eighteen months, economic uncertainty has frozen a vast proportion of the world’s workforce to the spot. It didn’t matter whether employees were content with their jobs at the onset of the crisis: the prospect of losing rights to redundancy pay, falling foul of the ‘last in, first out’ method, or joining a new company that could have a less certain outlook was enough to delay any major career decisions.
Having a strong relationship with the media can help your brand to increase its reach without spending millions in advertising. By making connections with the right journalists and organisations, fast-moving companies can get themselves noticed, building awareness that can help them reach their goals in a number of different ways.
When investors make the decision to give funding to a startup they are effectively saying ‘I believe that the vision of this business will manifest itself in tangible value in the future.’ Data sometimes back up this belief, but often it isn’t. This means that an investor's decision to invest in a startup is more emotional than rational in the early stages. For this reason, investors must believe in the value that the startups create not just for themselves as ROI, but for everyone that is and will be using the product.
When starting a new business, the hopes, dreams, and aspirations of budding entrepreneurs are underpinned by the desire to secure a bright and prosperous future. Positivity, adrenalin and energy combine to drive them forwards. Hurdles are overcome, goals are pursued, and time flies by in a whirlwind of activity and excitement – at least, that’s the plan.
Suffice it to say, 2021 was a challenging year for UK businesses. Brexit and COVID-19 have continued to dominate the news agenda throughout the previous twelve months, presenting challenges for organisations of all sizes. That said, new challenges began to emerge throughout the year; supply chain problems, for example, caused major disruption and product shortages for businesses and customers alike.
What is the entrepreneur mindset, and how do we develop it? These are questions that often go amiss during conversations about successful business leaders. Much is focused on reputation, a penchant for spotting talent, and of course, the all-important sales figures. While important markers, these fail to address what truly sets apart those destined to be entrepreneurs from the rest.
You’ve set your business up, you’re doing something really quite different and exciting, and the website looks great. What’s more, you’ve even acquired some customers quite early on thanks to your solid network. But, in an attempt to reach wider audiences, you attempted a PR push and it got you… nothing. Zilch. No coverage whatsoever. (Unless of course you were willing to pay £250 for a publication to print it but then who wants to do that?!)
You want your startup business to be an instant success. But challenges can crop up quickly and hamper your startup long into the future. However, if you understand these challenges, you can keep an eye out for them. From here, you can address these issues before they cause long-lasting damage. You may even identify opportunities to prevent such problems from damaging your business in the first place.
As the world of fashion is growing at a rapid rate, but so is the footprint the industry is leaving on the planet, we spoke to Stefan Hauswiesner, CEO and co-founder of Reactive Reality, the augmented reality leader enhancing e-commerce for retailers, who explained more about the vital role that AR will play in reducing the carbon footprint of the fashion industry and some of the key consumer fashion trends of that we will see in 2022.
It is true that many people do not like change and shy away from it. But it is equally true that periods of change bring much more opportunity for innovation and for businesses to adapt and pivot and supply products and services to fulfil needs that have opened up or changed in some way. In times of rapid change as we have seen over the last few years then the opportunities are both bigger and more abundant.
As any startup founder knows, there’s an ongoing battle that you wage with yourself to do with staffing. More specifically, whether and when to staff up – or to keep trying to spin all the plates yourself. When you’ve grown a business from the ground up, it’s hard to pass responsibility to other people. In fact, I’d liken it to a kind of bittersweet grief; I’m happy things are going so well but it is hard to take a step back and hand the reins over to someone else.
Starting a business is not always easy. But scaling a business, any business, often brings many more challenges than actually starting one. A typical small business is quite simple, bat as that business grows it becomes more complex and has more moving parts which become ever more complicated to coordinate.