Technology has changed the way commerce is carried out. Nowadays, the majority of major businesses conduct many of their transactions online. E-commerce has made it easier to access global markets and secure sales with the click of a button. With that being said,...
Business Consulting & Advice
The pros and cons of sharing equity with a key employee
While business owners play a pivotal role, they generally understand the importance of employees too. There are several ways that employees can be rewarded. For example, they may receive a salary increase or bonus. They may be sent on a family vacation. Sometimes,...
Can my business restrict employees’ social media activities?
Social media plays a pivotal role in modern life, and the chances are that all of your employees have at least one account. Generally, what employees post on their personal pages in their own time is of little concern to the company they work for. Nonetheless, there...
How can I best protect my business from creditors?
Running your own business can be rewarding both personally and financially. That said, it does not come without challenges. There may come a point when your business is exposed to creditors. What steps can you take to protect your company from claims? Structuring your...
Establishing a successful collections strategy for your business
Ideally, your business will carry out its services and be paid the agreed amount on time. Usually, this is precisely what happens with the majority of your clients. Unfortunately, it doesn’t always work out this way. Delayed or missed payments happen for numerous...
What’s the difference between mergers and acquisitions?
Two strategies that business owners can employ for growth are mergers and acquisitions. Often, these terms are used interchangeably, but they are actually very different in meaning. Taking either route is a significant decision for any business owner, so it’s...
What is due diligence?
Forming a new business is a significant decision that requires careful thought. The right company with an appealing product or service can quickly take off. At the same time, a business that runs the risk of being dominated by competitors could fail. This is why it’s...
How do I create an exit strategy from my business?
Running a business can be complex and it requires looking to the future. Many business owners get caught up in the moment and don’t even think about an exit strategy. Nonetheless, an exit strategy from your business is important, as it offers stability for key...
Business best practices for contracting with vendors
Running a business involves forming corporate relationships with numerous different entities. Many companies rely on vendors, who can supply the required components to ensure customer transactions run smoothly. Working with an external party involves a level of trust...
Avoiding the pitfalls of contract-to-hire situations in your business
As a business owner, you play an important role in the success of your company. However, you don’t act alone. The team around you contributes, and you’re always looking to get the best available talent. The roles in your organization vary. You have senior and...