Very often, small and medium businesses need financing. Ether it is the replenishment of working capital when there are cash flow gaps - you have not received payment for bills issued to consumers, but you need to pay your bills. Or you decided, for example, to buy new equipment to take your business to a new level. In other words, you need to find investment for development.Â
For years banks took the role of providing loans for businesses, but nowadays, many other online platforms can offe
Let us start with a short history of the influencer concept. Even though the word influencer was officially introduced in the English dictionary just last year in May 2019, the concept can be traced back to a much earlier time. One of the first records about a business collaboration with an influencer is back to 1760, when a potter, by the name of Wedgwood, made a tea set for the Queen of England. Since the monarchy were the influencers of their time, Wedgwood's decision to market his brand as g
Entrepreneurs and business owners need to improve their skills and knowledge to succeed—one of the ways of strengthening offered by online educational resources.Â
During the last decade, a MOOC becomes a popular way of learning. A massive open online course (MOOC) is an online course aimed at unlimited participation and free access via the web. Educational websites offer online courses with video lectures as well as quizzes to check the learning process. Many courses have additional interactiv
Running a small business is not an easy task. Every day small and medium business owners face many challenges, and they need to make decisions that influence their development. We collect some information resources that may help merchants to make their decisions more efficiently.
Small Business Trends
Small Business Trends review tech products, cover small business news and interview movers and shakers. The site contains over 20,000 pages focused on tips, trends, and answers for
Retail means selling goods or services directly to consumers or end-users. Modern retailers make various strategic level decisions, including the type of store, the market to be served, the optimal product assortment, customer service, supporting services, and the store's overall market positioning. A successful retailer is one that continually improves his/her knowledge and ability to do business. We collect some blog resources for retailers; they will be useful for food and cloth businesses.Â
To run a successful business, you have to be professional; you need to examine other similar businesses' experience, get to know the viewpoints of experts, and know global trends of your industry. One of the ways to improve your understanding is to read the blogs dedicated to your business. We have collected useful blogs about food serving businesses, such as restaurants, cafes, and bars. This list may be helpful for owners and managers, Loyverse POS users who have similar companies.Â
Reddi
ERP - Enterprise Resource Planning, software that allows small businesses to replace the various information systems, programs, and databases used in the enterprise and start using a single database in an ERP system. ERP software enables the use of essential business functions, such as order processing, production control, and financing. By using one technology platform and enterprise-wide database, businesses can integrate operations and achieve a range of economic, operational, and production
CRM - these three letters contain useful power that can help you develop your business. Customers are the most significant component of running any type of business. That`s why it's essential to pay attention to customer relationship management.
Nowadays, there is a lot of CRM software ready to help you optimize marketing, increase sales and improve customer service. Therefore, it's a solution to a data organization problem.
Which CRM software should I choose?
It's difficult to fi
Whether your product is content in a blog or an item in a store, in the end, you want as many people to get to know your product and buy it. It is at this point when marketing begins to play a significant role.
How, then, can your product reach your target audience? Some of you may think that social media websites- such as Facebook or Instagram- are great tools to advertise your product and reach many people. Although this may work for some time, you do not have much control over the proces
Successful small and medium businesses usually have several sales channels. If you want to have a stable business model, consider improving the variety of your sales channels. There are three main types of channels: offline store or business (brick and mortar), e-commerce, and online marketplaces.Â
There are different types of data that retailers need to synchronize between selling tools of different channels: orders, reports, inventory, and customer information. Orders - you have to recei
Choosing a platform for e-commerce is an important decision for your business's further development and profitability. Depending on your business's specifics, you will need a platform with a specific set of functions.
Consider the main ones:
Catalog of goods. E-commerce platforms should provide a convenient way of adding your products and descriptions to them. The content management system should also offer the possibility of uploading items in bulks if the amount of items is hundreds
Cloud-based online accounting services work in any modern browser. Compared with local services, when all operations take place on your computer, cloud solutions store, and process data on a server on the Internet, they also often called cloud-based services.
Online accounting services are widely used by private entrepreneurs, small and medium-sized businesses, as they save time and money because now you do not need to hire an accountant and pay him a salary.
We prepare an overview of
Aggressive expansion of large retail chains leaves less and less market space for individual food stores. But they have undeniable competitive advantages. How to use them?
In many cities all over the world, chain supermarkets grow rapidly, and they gradually lure customers from small stores. Their "baits" are low prices, a rich assortment of goods, and more comfortable shopping conditions.
Of course, not everyone can resist the unequal struggle with the monsters of the market. Neverthe
No one knows how long the economic crisis will last and how deep it will be. The marginality of stores is falling because people buy only the necessities, the level of service of suppliers is falling, non-food retail sales are falling, and some stores are closing due to quarantine. Grocery stores, on the contrary, experience a more significant influx of buyers.
What to do in this situation? Just waiting out bad times will not work. Experts recommend retail to go online through exposing thei
Have you opened up a grocery store, but ended up not making enough profit to cover for rent and staff costs? If the problem is relevant to you, it's time to start promoting. Let's see how you can attract customers to the grocery store. Small grocery stores are finding it harder to survive among giant rivals, such as supermarket chains. But it is possible to compete with them with simple solutions.
How to solve the most crucial mistakes in running a grocery store
Let's start with mistak
It is the time for the shop owners, when it is necessary to breakthrough by focusing both on customers (shoppers) who are existing customers, and on a new customers as well. It is a good to experiment with a combinations - creating a hybrid of different formats: like combining a coffee shop, with delivery options and offering there as well necessary products for the nearby living people.Â
For the small outlets it is the time, of the unifying hybrid formats of shops-cafes. Combining offline
Many people do their jobs from a cafe. Cafe as a working place is popular among freelancers as well as for office workers.Â
Freelancers often find it difficult to work at home and lose concentration
Working at home, we often get distracted and lose motivation. Often we associate home as a place to relax. If you have to do your tasks at home, such as reading articles and researching materials for future work, we need to spend much more time than the job itself requires. Sometimes we can
One of my friends started a coffee shop as an individual business three years ago. Despite all his efforts, now this cafe is closed because it was cash negative and drove him a minus.
Recently, I read about Romanian guys, who started their coffee shop business three years ago as well, with 10K euros and 12 sq.meters, and now they have over 150 coffee shops, have sold 35% of their company to venture investor, and have opened their franchise.Â
Quite impressive growth over the same three
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A restaurant owner has two choices in the management of the restaurant.Â
1) Manage by him/herself. When the founder of the restaurant starts the business from scratch and takes full responsibility for the running of the business. This is the case often seen in small businesses.Â
2) The owner may hire a manager. Someone who takes the role of managing the restaurant on behalf of the owner.
Either way, for a successful operation of the restaurant it is important for the managers to know wh
Modern POS systems have a lot of functionality for different ones. However, there are several essential features that you need to use in a retail business.
Ability to sale different product
The POS system should allow selling your types of products. For example, if you sell cloth, you should be able to process the same item with different sizes. The POS should give you the ability of sale through scanning barcodes, to make the process of selling quick and straightforward. For grocery stor
Growing up in England with South African connections, my first taste buds became distinctly acquainted with first roibos and then black tea. It was only as a late teenager that I decided I could overcome the bitter taste I had taught myself meticulously to avoid and finally learn to appreciate what has become the 2nd most traded commodity in the world- only bested by crude oil. It’s also only beaten by water as a popular beverage! Only water…
Coffee is an undeniable phenomenon from the bottom
Do you want to develop faster and better than your competitors?
Regardless of which niche you are building your business, there are chips that work or do not work for everyone.
And today I want to share with you the best business lessons that guarantee you a 100% chance of success in whatever you are doing.
Ready to learn them and be always ahead? Then we will not waste time
Lesson 1: Your employees are not your children or your personal assistants
You do not have to run at their
When it comes to choosing a good Point of Sale (POS) system, it can be great stress because it’s a one-time thing. You want to make sure you choose the right one since a good POS system is an essential tool for business owners to increase sales, manage inventory, and build a customer base. Not only are there many brands to choose from, but you must first decide between a traditional and cloud-based POS system. Not sure what the difference is and which is better? Let us help you!
A traditiona
