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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 14, 2023In:

There are so many economic situations that might exist or around business. From inflation to recession there are so numerous, however establishing a business in an economy facing recession can be daunting and hard and requires an individual to carry ...Read more

There are so many economic situations that might exist or around business. From inflation to recession there are so numerous, however establishing a business in an economy facing recession can be daunting and hard and requires an individual to carry out careful research and considerations. How would you guys answer this question?

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business establishmentsbusiness in recession
  1. aboy01
    aboy01 Trusted Adviser Digital Entrepreneur | Knowledge Sharer | Smart Income Mentor

    When times get tough financially, some businesses keep going strong because folks rely on what they offer. Think groceries, medical care, or fixing things around the house - stuff people can’t just skip. Even when money is tight, lights stay on, prescriptions get filled, cars keep running. Places seRead more

    When times get tough financially, some businesses keep going strong because folks rely on what they offer. Think groceries, medical care, or fixing things around the house – stuff people can’t just skip. Even when money is tight, lights stay on, prescriptions get filled, cars keep running. Places selling cheaper alternatives often see steady traffic too. Streaming a movie at home? More common than a night out. Learning new skills online also becomes more appealing without high costs. Help managing debts grows in importance as budgets shrink. Needs shape choices, not wants. Stability hides where life keeps moving forward

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 14, 2023In:

If I were to establish a business, the business would literally by a drop-shipping business. The reason why I love drophipping business is that it is highly lucrative and very much profitable in this area of the world I am ...Read more

If I were to establish a business, the business would literally by a drop-shipping business. The reason why I love drophipping business is that it is highly lucrative and very much profitable in this area of the world I am leaving. What kind of business will you have to establish?

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businessbusiness management
  1. @ALA
    @ALA Knowledge Seeker I'm A Student, But Future BILLIONAIRE!

    If I were to establish and run a business, I’d choose a freelance content creation agency specializing in blog posts, social media content, and video scripts. It aligns with my strengths in communication and creativity. By requiring minimal start up a laptop and internet.  leverage platforms like UpRead more

    If I were to establish and run a business, I’d choose a freelance content creation agency specializing in blog posts, social media content, and video scripts. It aligns with my strengths in communication and creativity.

    By requiring minimal start up a laptop and internet.  leverage platforms like Upwork to find clients, offering tailored content for small businesses or influencers, The flexibility suits my schedule, and I could scale by hiring other freelancers.

    Also market through LinkedIn and Instagram, building a portfolio with free tools!

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 14, 2023In:

Everyone keeps establishing businesses here and there, some people even think that online business is better than offline business. Please which of these two categories of business would you suggest I establish?

Everyone keeps establishing businesses here and there, some people even think that online business is better than offline business. Please which of these two categories of business would you suggest I establish?

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offline businessonline business
  1. spencer
    spencer Enlightened Mentor

    Go start an offline business that brings in money everyday, if you can get this done, then in couple of months, you would've saved enough capital to venture into online business, offline business is easier to establish and you can expand quiet quick depending on what you offer. Online Businesses areRead more

    Go start an offline business that brings in money everyday, if you can get this done, then in couple of months, you would’ve saved enough capital to venture into online business, offline business is easier to establish and you can expand quiet quick depending on what you offer.

    Online Businesses are mostly out of your control and there isn’t much you can do to influence them, most times you just have to wait it out.

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 13, 2023In:

The process of engaging in business it’s not always smooth and free, there are definitely some Rocky areas to business practices which absolutely need smoothing if the individual and business business is a qualified and intellectual individuals. The intellectuality of ...Read more

The process of engaging in business it’s not always smooth and free, there are definitely some Rocky areas to business practices which absolutely need smoothing if the individual and business business is a qualified and intellectual individuals. The intellectuality of business owners and business managers have been not been appreciative  these days. How would you guys answer this question?

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business managementbusiness satisfaction
  1. Jewel
    Jewel Knowledge Seeker Jewel

    When talking about business management this often comes with various challenges, and these challenges can vary depending on the industry, size of the business, and other factors. Things like balancing budgets, managing cash flow, securing funding, and making financial decisions can be complex and chRead more

    When talking about business management this often comes with various challenges, and these challenges can vary depending on the industry, size of the business, and other factors. Things like balancing budgets, managing cash flow, securing funding, and making financial decisions can be complex and challenging. Also staying competitive in a rapidly changing market with evolving customer preferences and emerging competitors is a constant challenge. Recruiting, retaining, and developing a skilled workforce can be a significant challenge, particularly in industries with skill shortages.

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 13, 2023In:

Every business whether established in large-scale and small-scale most definitely have a goal or objective in which it wants to accomplish someday. Business goals and objectives could be in long-term and short-term base on the capital and Risk management and ...Read more

Every business whether established in large-scale and small-scale most definitely have a goal or objective in which it wants to accomplish someday. Business goals and objectives could be in long-term and short-term base on the capital and Risk management and tolerance ability of such business organisation. How would you guys answer this question?

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business goals settinggoals achievement
  1. Inem
    Inem Knowledge Seeker

    When people want to set business goals, they should endeavour to set goals that are easy enough for them to achieve in three months. And after they have aced that one, they move higher to the next business goal. It doesn't make any sense to set business goals that are too bogus and can't be achievedRead more

    When people want to set business goals, they should endeavour to set goals that are easy enough for them to achieve in three months. And after they have aced that one, they move higher to the next business goal. It doesn’t make any sense to set business goals that are too bogus and can’t be achieved even in six months. At a point, one would get tired of such business goals and give up on them.

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 13, 2023In:

It is absolutely vital and important for customers and clients to have their loyalty and interest in a particular business, and not only will they be able to get their needs and once satisfied but also the business in particular ...Read more

It is absolutely vital and important for customers and clients to have their loyalty and interest in a particular business, and not only will they be able to get their needs and once satisfied but also the business in particular will be able to generate profit as expected and as planned. Customers relationship can be maintained in so many ways but one of the common ways is to be able to sell and to keep on selling goods and services that customers and clients are always ready to purchase. This can be done effectively by knowing the taste and preference of various individuals living in the area where your business is located. Anyways what do you guys have to add?

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business customers and clientsbusiness management
  1. Jewel
    Jewel Knowledge Seeker Jewel

    Normally customer relationships is essential for business success. And there are some steps you need to accomplish that like; (1)Active Listening: Listen carefully to your customers' needs, concerns, and feedback. Show empathy and understanding when they communicate with you. (2)Personalization: TaiRead more

    Normally customer relationships is essential for business success. And there are some steps you need to accomplish that like;
    (1)Active Listening: Listen carefully to your customers’ needs, concerns, and feedback. Show empathy and understanding when they communicate with you.
    (2)Personalization: Tailor your interactions and offerings to meet individual customer preferences. Use data and customer profiles to provide personalized experiences.
    (3)Consistent Communication: Maintain open and consistent communication channels with your customers. Keep them informed about your products, services, and any relevant updates.

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 13, 2023In:

The productivity aspect of the business organisation can be achieved basically in So many ways. How about the above question is very much important to ask because majority of businesses today are suffering as a result of decreased productivity, possibly ...Read more

The productivity aspect of the business organisation can be achieved basically in So many ways. How about the above question is very much important to ask because majority of businesses today are suffering as a result of decreased productivity, possibly because they are factors not properly implemented in the business organisation and environment. And also the business managers to this poor productive businesses are unable to spot out these factors unimplemented.

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business growtbusiness productivity
  1. Augusta
    Augusta Enlightened Mentor

    To improve productivity in business is to Spend hours on your most important things ass a business owner. Complete shorter tasks you've been avoiding. Work on maintenance activities to keep life in order. To boost business production is very important you need to Automate routine tasks Remove low-vaRead more

    To improve productivity in business is to Spend hours on your most important things ass a business owner. Complete shorter tasks you’ve been avoiding. Work on maintenance activities to keep life in order.

    To boost business production is very important you need to Automate routine tasks Remove low-value tasks with AI and Use shared channels for cross-team collaboration.Minimizing or eliminating unnecessary meetings,

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 13, 2023In:

Employees are basically the resource centre of a particular business organisation and to be more clarify their are the human resource centre in which a business organisation can get to achieve its goals an organisation through appropriate work and hard-working ...Read more

Employees are basically the resource centre of a particular business organisation and to be more clarify their are the human resource centre in which a business organisation can get to achieve its goals an organisation through appropriate work and hard-working attitude of these individuals who are the employees to the business. Employees are individuals who have feelings and have other financial responsibilities, however managing employees requires a whole lot of work on the part of the business manager. How would you guys answer this question please?

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business employeesbusiness environment
  1. Redditcat1
    Redditcat1 Active Contributor Digital marketer

    Managing employee in business start with you it's depends on how you want your business to be operating.Now add some money to patronize them this is one sure way to make your employees more happy and ready to complete your business task more comfortable.You can give them shift of work time to make tRead more

    Managing employee in business start with you it’s depends on how you want your business to be operating.

    Now add some money to patronize them this is one sure way to make your employees more happy and ready to complete your business task more comfortable.

    You can give them shift of work time to make things easier and reduce work load on them

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 13, 2023In:

It is undoubtedly true that the main aim of establishing business is to make profit and whether a business exist in large-scale or small scale, the business management sole aim and objective is to make profit and boost its recognition ...Read more

It is undoubtedly true that the main aim of establishing business is to make profit and whether a business exist in large-scale or small scale, the business management sole aim and objective is to make profit and boost its recognition criteria is among the area in which the business is being situated. Making revenue in business requires management and this is absolutely a broad topic on its own known as “business financial Management”. A lot of people believe that this is the hardest skill a business manager can acquire. What do you guys think?

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business financial managementbusiness financial skills
  1. aboy01
    aboy01 Trusted Adviser Digital Entrepreneur | Knowledge Sharer | Smart Income Mentor

    Financial management is one of the toughest business skills because it affects every part of a company. A manager must understand budgeting, cash flow, investment, risk, pricing, and profit planning while making smart decisions under pressure. Poor financial decisions can easily collapse a business.Read more

    Financial management is one of the toughest business skills because it affects every part of a company. A manager must understand budgeting, cash flow, investment, risk, pricing, and profit planning while making smart decisions under pressure. Poor financial decisions can easily collapse a business. However, I would not call it the hardest of all skills because leadership, marketing, and people management are also challenging. The best business managers combine financial knowledge with communication, planning, and problem-solving skills.

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 13, 2023In:

Just as leadership helps to organise a society more acceptably, also in business appropriate leadership in a business organisation can make things to stay organised and very much professional. However a business manager is the one to exercise leadership in ...Read more

Just as leadership helps to organise a society more acceptably, also in business appropriate leadership in a business organisation can make things to stay organised and very much professional. However a business manager is the one to exercise leadership in a business organisation. I believe that this are done through the application of various principles, however do any of you guys have idea of these principles please share?

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business leadershipbusiness management
  1. Inem
    Inem Knowledge Seeker

    As a business owner, the principle that I use in leading my business is leading by example. I am always a perfect model of whatever change that I want to see in my business team. Another principle that I use to lead and get the best out of my team is building strong bonds between me and the staff teRead more

    As a business owner, the principle that I use in leading my business is leading by example. I am always a perfect model of whatever change that I want to see in my business team. Another principle that I use to lead and get the best out of my team is building strong bonds between me and the staff team. That helps them to trust me and are ready to push through so we work together to achieve organizational goals.

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