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Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Europe, an international franchise of Entrepreneur Media. Earlier this summer when the cost-of-living crisis and rising energy bills were causing justified panic, the UK government launched an initiative that caused some raising of eyebrows. The campaign called on businesses to divert marketing spending into instead cutting prices for consumers. The carrot? Those that do so will be able to show off the campaign name and related badge on their websites… and marketing collateral. For some of the largest firms, this messaging may have carried some clout. Could McDonald's survive a few months without TV advertising to help ensure that staff wages can be increased, or the rising prices of meat and other products aren't passed on to customers? More than likely, yes. But the same advice adopted by a smaller, growing firm could have disastrous consequences. Lead funnels need top...

If you're an aspiring entrepreneur entering the competitive business world, it's likely you'll be faced with challenges and setbacks. Balancing your determination with a strong mindset is essential to achieving your entrepreneurial vision. Here, award-winning business coach Melitta Campbell offers BusinessBecause her advice on how entrepreneurs can develop a success mindset:  Entrepreneurs often spend a lot of time getting their business up and running, but miss the most important element: themselves.  It can be easy to forget the importance of working on yourself, yet this is what helps business leaders stand out, maintain the courage to speak out and be visible in the competitive business landscape.  In business, your mindset is everything. Look at any successful entrepreneur and they usually all have a positive, open, and creative mindset. So, if you want to move towards future success, here are seven ways to develop a strong mindset.  1. Learn from ...

Globally, social commerce is expected to grow three times as fast as traditional commerce to $1.2 trillion by 2025, up from $492 billion currently. Roughly 62% of this growth will be driven by millennials (33%) and Gen-Z (29%), with Gen-X (28%) and baby boomers (10%) trailing closely behind. In all, social commerce is poised to take a large chunk of the e-commerce market as consumers gravitate to doing their shopping on social apps. As someone with several years in the influencer marketing world, I’ve closely watched trends related to e-commerce and social commerce as platforms and the consumers using them have evolved to embrace new technologies and features. Social commerce offers something radically different than traditional e-commerce by carefully blending buying and selling with a sense of urgency across communities. Further, it’s altering who holds power within the global economy. Smaller creators, influencers and sellers are increasingly finding new avenues to attract...

Some people say you need to spend money to make money, and while spending money on big marketing campaigns can certainly help businesses, it isn't the only way. There are plenty of alternative ways to grow your business without breaking the bank. With some smart planning and creative strategizing, you can increase your sales and grow your customer base without spending much—if anything—at all. Below, 12 members of Forbes Business Council share some of the best free and low-budget strategies they know to increase business cash flow. Members of Forbes Business Council share strategies for increasing business cash flow. 1. Automate Payment Collections Automating your payment collections. If you typically use an invoicing system to bill clients and have to wait for payment, you may consider setting up automatic payments, such as recurring ACH or credit card transfers. Additionally, if you typically bill in arrears after work has been performed, changing to requiring either ...

Small business owners calculating their monthly cashflow. In a meeting last week, a successful serial entrepreneur, who wants to shift to becoming a full-time investor, remarked that they were going back to school to get an MBA at the age of 45. I asked, why? The answer was surprising to me. Even though this entrepreneur had built several companies (north of $50 million in annual revenue) they felt inadequate as a potential investor. Specifically, they cited an inability to read company financial statements, including a balance sheet, etc. in order to determine a company’s health and value. This made me stop and think. How many other entrepreneurs or small business owners really understand how to read and utilize financial statements or even critical finance metrics in order to determine a company’s health and financial worth? In my career of building a $1 billion company and managing four company turnarounds, I found the following financial metrics below to be invaluab...

Published: Tues., March 23, 2021 If someone were to ask you to describe an entrepreneur, you’d probably think of someone in a suit making high-stakes deals, or a tech guru in Silicon Valley developing the latest app and getting it out on the street. Or maybe you stayed closer to home and thought of the University of Nebraska–Lincoln students who founded the wildly successful sports start-up, Hudl. You probably didn’t think of a scientist in a lab coat, someone writing a grant proposal, or a teacher working with undergraduates. That’s because we tend to think of academics as solitary thinkers who are tucked away at the bench or in the library, working long hours on a small part of a problem. This imaginary academic discovers information that other people apply to solving real-world problems. You may think that you have to choose to be one or the other, when you can take some of the positive characteristics of the entrepreneur and apply them to being a graduate student. Successf...

What did entrepreneurs do about an outbreak?   For almost 3 months citizens have been subject to movement control orders. During that period only the authorized sector could operate. Then another industry gradually allowed. For businesses that have been affected for almost 3 months, it is unlikely that business will resume due to the outbreak. There are a number of factors including the development of advanced technologies that allow entrepreneurs to find new ways to adapt to their business. They changed in the latest ways.  Advertising and Promotion Businesses will also lose customers as a result of the outbreak. But that's not the reason for the decline in sales. Factors such as advertising, promotion and delivery services also play an important role. It is undeniable that some business people are having a hard time continuing their operations  New Procedures New procedures for doing business in offices, restaurants and malls can be described today. Temperature t...

Interpretation of study results When you have a product or service then it becomes your episodes as an entrepreneur whether small or large business. Let's say that your business wants to make a profit of 5% -10%. What is the selling price to be determined? What is the cost of variable and fixed costs to use? Therefore, financial management needs to be carefully supervised. Record sales and purchase transactions and keep them perfectly so as not to affect the presentation. E-commerce businesses have no manufacturing costs such as raw materials and semi-finished products. However, overhead costs such as electricity, telephones, water, internet, insurance, office rentals and direct employee wages will be assessed. The method to analyze in business deals this time is to use mathematical application. The use of this mathematical formula is very popular. Known as a linear function and has been widely used by industries such as agriculture, manufacturing and transport. Examples are...

Each entrepreneurs aims to achieve target every year. Not everyone can sell good products or services to the right people at the right time. They do not do well because of internal and external factors. There are several reasons why internet businesses can not make a profit. Among the reasons are as follows: - Having lack of of confidence Due to lack of enthusiasm to promote, it's all gone. Among the reason are not confident to see customers, time constraint , lack of human resources, traffic jam, cost of journey or may be some don't have sufficient skill to start promoting new products. Finding creative solution sometime becomes a burden to some people but for real entrepreneurs that is the real challenge where they have to present their ideas and products. In the era of digital world now days you can use step - by - step new applications that support your business from marketing to sales in order to help you perform more efficiently. Promote your new products by mini...

Reading which is a beneficial hobby and adding knowledge as well as acquiring new ideas. Choosing the appropriate titles like economics and marketing, business, computer, self confidence books, novels and magazines are on the market. Besides reading, training can also improve knowledge and skills. By selecting the program, four main modules and aided by +2000 professional teachers. Elected among the world's best 20 in conducting training to more than 500,000 professionals in almost 150 countries. To learn more, please subscribe

Are your company short on supply expertise's in cyber security, cloud computing, project management or are your staff in need of more professional skills and knowledge in technologies.  If you are, you should read this to begin. Technologies are changing rapidly nowadays. From the biggest companies to small businesses which ventures into digital space. Consider hiring an intelligent and professional like you which specializes in your field of expertise. Understand what is the training principle Attract new talents for your companies Upgrade your skills and social stability Deal with problems when they arrive Training can help you perform well, be knowledgeable, competitive, strengthen your trading skills and make young people beneficial and also companies with a certificate in technologies like cyber security, cloud computing, project management and data science Qualified candidates should catch up to this opportunity. Make your dream and vision comes true. Get i...