Streetsmart insurance Blog
No matter what the nature of your business is, whether your platform is digital or online, you must know the importance of insuring your business. Even if you don’t sell products in a physical store, you still need to have business insurance. Things can get riskier on the internet because of the advent of technology.
If you are a starting digital entrepreneur and you have no background about business insurances, don’t worry because we got the best solution for you. Below is a list of things that you should look for in business insurance.
In 1909, Harry Gordon Selfridge, the man who founded Selfridges Department Store in London, coined the phrase “The customer is always right.” Perhaps, it was true in London during those times when bad customer service was often an issue. However, this may not necessarily apply to contemporary times especially if you know that your employees are doing their best in your business.
Here are the top five explanations why business owners should abandon this business philosophy:
Are you planning to facilitate shopping from many different sources? Today, consumers and businesses have both moved their interactions online. You can establish an online e-commerce site where multiple third-party companies will provide products and services. Finding the right platform or setting up one seems to be challenging. An excellent online marketplace can sell everything to everybody.
Although online shopping is becoming more and more popular and the new big thing when it comes to buying goods, physical stores are still more important.
A survey conducted by ICSC points out that physical stores play an important role in the success of retailers. As a matter of fact, 96% of online buyers still visit the retailer’s physical store, according to the research titled The Importance of Physical Stores: Halo Effect. In addition to that, more than 50% of online shoppers say that it is still important for online retailers to have a physical store that is near the shoppers’ home or workplace.
Purchasing a franchise can be a practical alternative to start your own business. Buying an already popular and established franchise business may seem like an ideal business option – instant brand recognition, nationwide ad campaigns, and being long proven to be a trusted brand or service. Business success is sometimes subjective; buying franchise does not always guarantee a lower rate of business failure.
Here are some advantages and disadvantages in buying a franchise.
If you are qualified to start a pharmacy business, it is better to build your own than buying an existing one. Having said, you need a lot of work to make your pharmacy popular and profitable.
Having experience also gives you an edge when it comes to operating your independent pharmacy. You will have the advantage if you have worked as a pharmacist before compared to someone who just graduated.
Provided below are more tips to become successful in your pharmacy venture:
One of the foundations of a successful business is having the best employees. Adding workers might not be easy at first but will benefit more the company later on.
Running a business is a very challenging task. As time pass by, a company faces inevitable must-have changes. Through the years, technological upgrades have been proven to boost the productivity of several businesses.
Car rental businesses is probably one of the most dynamic industries out there. Now that it is getting more demanding, competition is high. If you are planning to venture into the automotive world, it needs thorough research and feasibility studies to minimize the risk. Additionally, it is a crucial business as you both deal with products and services. The cars serve as your product that needs maintenance, and your rental service.
Competitions may or may not be healthy for a business. This case will depend on how the company positions itself in the market. It is okay whether they choose to stay far from the competitors or pool with them in the same area. Businesses should not forget that the consumers are where the competitors are. It is essential to include these 4Ps of marketing for a more effective strategic planning.