Why SMEs Need to Perform Competitive Analysis

Provide a definition of what competitive analysis is, its purpose and describe its benefits. From here, explain what business owners should look for and how they might go about competitive analysis or what should be included. Talk about when or how often someone might want to do a competitive analysis.

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A Guide to GST for Freelancers

Freelancers may think that their business is too small to warrant assessing GST, but in fact, these professionals may have to pay this tax. Write this post toward Indian freelancers who live and work in India, and create a guide to all the information they need to know about this tax. Some sections you may want to include are how not paying GST can affect your clients, GST rates for services that freelancers may offer or products they may sell, how to register, etc.

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Where to Find New Customers and How To Attract Them to Your Business

The article should offer some tips on where to find customers within the target market, on and offline, and how to attract them once the business identifies where to find them. Keep in mind that this article needs local resources since what attracts customers in other countries will vary.Read more


Essential Management Skills for Small Business Owners

List some skills small business owners need to cultivate to become great managers. Make sure the list covers a broad range of management know-how, including people management, financial management, customer relations, critical thinking and strategic planning. Be sure to also touch on organizational skills, leadership skills and the willingness to delegate. Suggest that business owners work hard to hone skills in each of these areas to help their business thrive. Point out that Quickbooks offers easy-to-use accounting tools to help make financial management tasks easier. Make sure the content is relatable for Indian business owners.Read more


5 Ways to Motivate Your Team Without Financial Incentives

giving your employees autonomy. When you allow your staff some freedom, it lets them that you trust them, and they're more likely to take initiative and come up with innovative solutions.

Create a Sense of Purpose

No one feels motivated every second of the day — after all, it's normal to be bored by certain tasks. That's where a sense of purpose can help. When your employees feel connected to the company's overall mission, it's easier to power through the occasional rough spot.

First, however, you need to link your staff to your customers. One option is to show employees how their work affects people for the better. If you sell educational games, for example, you could visit a classroom to see your products in action. You could also create a personal connection by inviting more workers into client meetings.

When you go the extra mile to motivate employees, it does more than increase productivity. Over time, your efforts can build a happier team and a great corporate culture that attracts the industry's best talent.

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4 Predictors of Small Business Success

successful entrepreneurs recognize the need to adapt and evolve over time.

1. An Effective Leader

Every ship needs a captain. A solid management team is essential to the long-term growth of any business. A good leader sets goals and consistently follows through with them. They work alongside their team, coaching and mentoring employees to help them improve, and that continued upward momentum naturally helps the company to become increasingly successful over time. An ideal leader is respected and trusted by their staff and gives that same respect and trust in return. Company growth requires collaboration and a sense of unity, and effective management is the key to achieving that. A good leader also knows how to create a positive company culture that keeps employees sticking around long-term.

2. Excellent Listening Skills

Awareness is vital to the success of any entrepreneur or business owner. If you want your company to be successful, it's important that you pay attention to the latest trends, as well as what your customers are saying. When you follow the latest trends in your field, you can evolve with them, keeping your company relevant and in tune with your audience. When you listen to what your customers are saying, you can make changes to keep them happy. For example, say a customer left a negative review because an item took too long to ship. You could use that feedback to seek out faster shipping options.

3. A Solid Reputation

Becoming a truly reputable brand takes time, but there are steps you can take now to put your company on the right track. Consistently going above and beyond for your customers is the best way to preserve your reputation. Now, sometimes that can affect your bottom line. For example, if a customer says an item never arrived, but your tracking information says it did, you may want to simply refund the order to preserve your company's good name. If your business takes care of its customers and consistently provides a quality product or service, your reputation is going to flourish. Being active on social media and putting out consistent, high-quality content is another great way to enhance your reputation.

4. Attentive Accounting

Clear, concise bookkeeping is a must. As your company grows, you need to have an established system in place that keeps your figures clearly organized and accessible. After all, your numbers help you to make important business decisions, and you never know when you may need to reference past data. Excellent accounting is necessary all year round — not just when it's time to file tax paperwork. QuickBooks Online makes bookkeeping easy and intuitive, and it even includes automation features so you can log and track sales, expenses, and other important financial information in real-time.

Whether you're launching a start-up or trying to grow your small business, you should always be striving to learn from other companies, as well as the entrepreneurs who start them. Success takes on many forms, but you should start to notice similarities among thriving businesses and successful business owners. Embrace those traits and nourish them, and you should start to see results manifesting over time.

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