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Whether it is a big company or a small firm, employee motivation is crucial for their continued success. Employee motivation is the most significant necessity to encourage an employee to work efficiently in this demanding economic scenario. Employees need to be continuously motivated to meet expectations, requests, and business goals. The benefits of motivating your employees are numerous, so if the management avoids taking care of its employees, it puts the business in a precarious position. Below we are mentioning some of the perks of motivating your employees at the workplace: Increases Work Efficiency Motivation is the best tool to…

If you were to name one thing that every business has in common, it would definitely be their passion for expansion. From a small shop to a large multiplex, everybody wants to expand their territories. Why do we want to do so? The simple reason is to drive more revenue. However, what if we told you that revenue increment does not begin externally but internally. To maximize your profits, you must start from the very grass-root level and supplement your product in a way that every customer wants it. However, for every customer to want something, they must also know…

If you own a startup and are at the point where you want to sell, this does not have to be the most difficult thing you ever do. So, what steps will you need to take to sell your startup and likely avoid problems along the way? Do Your Homework Ahead of Time In selling your startup, here are a few keys you want to think about: 1. Being prepared – It makes sense that being prepared to sell is going to help you better achieve what you want. In knowing how best to sell your startup, you can lessen…

When the coronavirus forced the world to shut down in March for safety reasons, nobody could have predicted its impact on the world economy. With thousands of small businesses already lost, it is estimated that millions more will not survive or recover from the impact of the pandemic. According to a report by McKinsey, up to 30 million SMEs are at risk in the United States. Across the pond in the UK, in a survey conducted by the Office for National Statistics, 63% of businesses that responded to the survey reported having lower than normal turnover with 40% planning on…

You started your own business to add value to other people’s lives and make money in the process. However, how much are you going to pay yourself?  This is where most businesses owners find it difficult to decide. If you pay yourself too little, you may not be able to meet your personal needs. And if you pay yourself too much, you risk the survival of your business.  So, how do you find the right balance? Choose a Number You want to give yourself a salary that is equivalent to your responsibilities and set up your company for long-term prosperity…