• About
  • Blog
  • Contact
Thursday, March 30, 2023
No Result
View All Result
The Daily Buzz
  • Home
  • Alternatives
  • World
  • Politics
  • Business
  • Science
  • Tech
    • All
    • Activate
    The 6 Pillars of Project Management
    The 6 Pillars of Project Management
    The Way SQL Could Be Useful for Business Analytics
    The Way SQL Could Be Useful for Business Analytics
    SQL Server Overview: Editions, Versions, Architecture, and Services
    SQL Server Overview: Editions, Versions, Architecture, and Services
    Why AI and Machine Learning Are the Future of Technology
    Why AI and Machine Learning Are the Future of Technology
    The Ultimate Guide to 10G Network Switches: How They Work and What to Look for
    The Ultimate Guide to 10G Network Switches: How They Work and What to Look for
    Fun Ways to Teach Kids Coding
    Fun Ways to Teach Kids Coding

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
    • Activate
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    The 8 Best-underrated Movies on Netflix Right Now
    The 8 Best-underrated Movies on Netflix Right Now
    Market Size of Mobile Games: Gaming Market Trends and Growth Forecast
    Market Size of Mobile Games: Gaming Market Trends and Growth Forecast
    Introduction to Game Server Hosting
    Introduction to Game Server Hosting
    5 Reasons to Shop for Toys Online This Holiday Season
    5 Reasons to Shop for Toys Online This Holiday Season
    The Japanese Tanto: What You Need to Know
    The Japanese Tanto: What You Need to Know
    Can You Crossfade Apple Music?
    Can You Crossfade Apple Music?
    What do rips or rip mean? – Letterkenny fandom
    What do rips or rip mean? – Letterkenny fandom
    What Is Ffxiv Parsing?
    What Is Ffxiv Parsing?
    How Many Satchels for Sheet Metal Door Do I Need?
    How Many Satchels for Sheet Metal Door Do I Need?
  • Lifestyle
    • All
    • Fashion
    • Fitness
    • Food
    • Health
    • Health Care
    • Home
    • Travel
    A Guide to Luxury Linen: What You Should Be Looking For
    A Guide to Luxury Linen: What You Should Be Looking For
    7 Interesting Places to Visit in Bulgaria With a Trip From Sofia
    7 Interesting Places to Visit in Bulgaria With a Trip From Sofia
    Bags for Men: 6 Types and How to Wear Them With Your Outfit
    Bags for Men: 6 Types and How to Wear Them With Your Outfit
    Find Your Inner Peace Through Zlibrary: How Reading Can Help You Manage Stress and Anxiety
    Find Your Inner Peace Through Zlibrary: How Reading Can Help You Manage Stress and Anxiety
    Best Shoes for 2023
    Best Shoes for 2023
    Essentials Hoodie is the Latest Fashion
    Essentials Hoodie is the Latest Fashion
    How Tracksuits Become a Stylish Choice
    How Tracksuits Become a Stylish Choice
    5 Bohemian Beach Wedding Dress Styles for a Summer Wedding
    Understanding Medical Negligence and What to Do if You Suspect It Has Occurred
    5 Bohemian Beach Wedding Dress Styles for a Summer Wedding
    5 Bohemian Beach Wedding Dress Styles for a Summer Wedding
    The Best Promise Rings for Her
    The Best Promise Rings for Her

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Home
  • Alternatives
  • World
  • Politics
  • Business
  • Science
  • Tech
    • All
    • Activate
    The 6 Pillars of Project Management
    The 6 Pillars of Project Management
    The Way SQL Could Be Useful for Business Analytics
    The Way SQL Could Be Useful for Business Analytics
    SQL Server Overview: Editions, Versions, Architecture, and Services
    SQL Server Overview: Editions, Versions, Architecture, and Services
    Why AI and Machine Learning Are the Future of Technology
    Why AI and Machine Learning Are the Future of Technology
    The Ultimate Guide to 10G Network Switches: How They Work and What to Look for
    The Ultimate Guide to 10G Network Switches: How They Work and What to Look for
    Fun Ways to Teach Kids Coding
    Fun Ways to Teach Kids Coding

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
    • Activate
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    The 8 Best-underrated Movies on Netflix Right Now
    The 8 Best-underrated Movies on Netflix Right Now
    Market Size of Mobile Games: Gaming Market Trends and Growth Forecast
    Market Size of Mobile Games: Gaming Market Trends and Growth Forecast
    Introduction to Game Server Hosting
    Introduction to Game Server Hosting
    5 Reasons to Shop for Toys Online This Holiday Season
    5 Reasons to Shop for Toys Online This Holiday Season
    The Japanese Tanto: What You Need to Know
    The Japanese Tanto: What You Need to Know
    Can You Crossfade Apple Music?
    Can You Crossfade Apple Music?
    What do rips or rip mean? – Letterkenny fandom
    What do rips or rip mean? – Letterkenny fandom
    What Is Ffxiv Parsing?
    What Is Ffxiv Parsing?
    How Many Satchels for Sheet Metal Door Do I Need?
    How Many Satchels for Sheet Metal Door Do I Need?
  • Lifestyle
    • All
    • Fashion
    • Fitness
    • Food
    • Health
    • Health Care
    • Home
    • Travel
    A Guide to Luxury Linen: What You Should Be Looking For
    A Guide to Luxury Linen: What You Should Be Looking For
    7 Interesting Places to Visit in Bulgaria With a Trip From Sofia
    7 Interesting Places to Visit in Bulgaria With a Trip From Sofia
    Bags for Men: 6 Types and How to Wear Them With Your Outfit
    Bags for Men: 6 Types and How to Wear Them With Your Outfit
    Find Your Inner Peace Through Zlibrary: How Reading Can Help You Manage Stress and Anxiety
    Find Your Inner Peace Through Zlibrary: How Reading Can Help You Manage Stress and Anxiety
    Best Shoes for 2023
    Best Shoes for 2023
    Essentials Hoodie is the Latest Fashion
    Essentials Hoodie is the Latest Fashion
    How Tracksuits Become a Stylish Choice
    How Tracksuits Become a Stylish Choice
    5 Bohemian Beach Wedding Dress Styles for a Summer Wedding
    Understanding Medical Negligence and What to Do if You Suspect It Has Occurred
    5 Bohemian Beach Wedding Dress Styles for a Summer Wedding
    5 Bohemian Beach Wedding Dress Styles for a Summer Wedding
    The Best Promise Rings for Her
    The Best Promise Rings for Her

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
No Result
View All Result
The Daily Buzz
No Result
View All Result
Home Business

Setting Your Business Up for Long Term Success

by The Daily Buzz Team
in Business
4 min read
Setting Your Business Up for Long Term Success

Did you know that 20% of small businesses in the USA fail within the first year? That 30% fail in the second year? Beyond that 50% fail after five and then finally, 70% of small businesses fail in their 10th year?

These facts aren’t meant to scare you or put you off from starting your own small business. Rather they are meant to highlight to you the seriousness with which you need to approach your small business venture to ensure it has the optimum chance of succeeding.

You might be thinking to yourself now, ‘how do I do that?’ Well, fortunately, we’ve collated some of the best tips to help you organize your business efficiently and set it up for long-term success. If you don’t want your small business to become another statistic, read on…

Contents

  • 1 Digitize
  • 2 Budget Frugally
  • 3 Catastrophize
  • 4 Streamline Processes
  • 5 Training
        • 5.0.0.1 The Daily Buzz Team

Digitize

You may well think that the quill is better than the key but when it comes to business organization that’s the wrong approach. If you want to make sure that your business runs as smoothly as possible ditch the pen and paper and digitize everything.

The time and money you will save in the long run from utilizing digital voucher check tools, cash flow spreadsheets and accounting software are phenomenal. Having everything in a digital format will also allow you to have a clearer and sharper understanding of your business’s financial health.

Another thing about digitizing your business is the convenience of sharing files, creating reports, and sending a fax is faster because digitized files are sent through a convenient online fax service.

Budget Frugally

When a person gets into a new hobby what is the first thing that most people do? They go online and start buying equipment and clothing.

What they should do though is spend half an hour researching their new hobby to find out what equipment and clothing is essential to their new passion.

Then they should spend another half an hour shopping around to get the best possible deal on the essentials. If you take the second approach you will save money and avoid shelling out on things that you don’t need.

You’d be amazed at how many small businesses take the first approach and splash the cash willy-nilly on set-up costs. Don’t fall into that trap, budget frugally and always keep cost-cutting at the forefront of your mind.

Catastrophize

Catastrophizing is one of the cognitive distortions that leads people into the path of stress. Individually this habit should be avoided or negated at all costs, but in terms of your small business, catastrophizing is actually very useful.

Prepare for the worst, hope for the best should be your business mantra. 82% of small businesses fail because of cash flow issues. Guard against this by putting away a nest egg of money to help you through fallow periods, even if it means living frugally for a few months.

Streamline Processes

A recent study found that companies in the USA were losing on average $1,800 per employee each year on unnecessary emails. If you’re Apple or Google this is a drop in the ocean compared to your revenues and profits.

If you’re a small business though that’s a crippling amount of money to be wasting. To reduce your waste, conduct an audit of your businesses’ processes.

Are there areas you could save time on? Are you doing things that are unnecessarily convoluted and expensive? Whatever the area or the issue is, streamline it. Don’t just do this every once in a while, do it regularly for the best outcomes.

Training

There’s no use expecting your staff to know what to do instinctively or criticizing them for not being as good at a task as you.

You have to train them and train them well. Informed, confident staff will keep your business running smoothly even when you’re not that. In the long term, this will prove invaluable.

The Daily Buzz Team

The Daily Buzz combines the pursuit of interesting and intriguing facts with the innate human desire to rank and list things. From stereotypical cat pictures to crazy facts about the universe, every thing is designed to help you kill time in the most efficient manner, all while giving you something to either laugh at or think about!

  • The Daily Buzz Team
    https://the-daily.buzz/author/admin/
    A Guide to Luxury Linen: What You Should Be Looking For
  • The Daily Buzz Team
    https://the-daily.buzz/author/admin/
    Maintaining a Healthy Lifestyle: 10 Tips to Follow
  • The Daily Buzz Team
    https://the-daily.buzz/author/admin/
    The 6 Pillars of Project Management
  • The Daily Buzz Team
    https://the-daily.buzz/author/admin/
    7 Interesting Places to Visit in Bulgaria With a Trip From Sofia

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Like us & Receive Daily Updates

Trending Now

  • A Guide to Luxury Linen: What You Should Be Looking For
  • Maintaining a Healthy Lifestyle: 10 Tips to Follow
  • The 6 Pillars of Project Management
  • 7 Interesting Places to Visit in Bulgaria With a Trip From Sofia
  • The Way SQL Could Be Useful for Business Analytics
  • About
  • Blog
  • Careers
  • Contact
  • Our Team
  • Privacy Policy

© 2020 The-Daily Buzz

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food
  • Our Team
  • Contact
  • About
  • Privacy Policy

© 2020 The-Daily Buzz