Tuesday, March 28, 2017
As Internet access becomes a more and more indispensible commodity, new ways of doing business have also emerged. As a society, we’ve experienced ecommerce boom and on-the-go shopping with mobile apps. As Internet usage grows, it’s logical to think that the focus of online businesses would be on increasing the volume of transactions proportional to the number of online shoppers. However, the exact opposite seems to be unfolding: innovative businesses are leaning more towards fewer transactions.
It seems counter-intuitive, yet it makes perfect sense. By abandoning the traditional retail model and shifting towards a subscription-based system, companies are reaping benefits that have not existed in the past. Pioneers such as Netflx, the Dollar Shave Club, Salesforce and Menguin have all captured large chunks of their markets en route to exponential valuation.
What is the Subscription Business Model?
The subscription model is hardly a new concept. At its core, the model is about having people commit to pre-buying products which will be released or accessed periodically. It makes sense to the buyer due to the elimination of hassles and the lower cost of subscription compared to the accumulation of single purchases. To the seller, the model works because of the certainty of multiple purchases over a period of time.
Thursday, March 16, 2017
There’s often a great debate on whether or not you need a big office to run a successful business. Many people swear that you need to upgrade to a large office if you want to improve your chances of continued success. They say that big offices provide you with more space, helping you expand your workforce and provide better storage options for you too. Also, they argue that inviting clients to a big office will gain far more respect than inviting them down to a small one.
However, there are many arguments that show you don’t really need a big office to run a successful business. A lot of industry experts say that it depends on the type of business you’re running. In this article I will look at this age-old debate and see whether or not you really do need a big office to run a successful business.
First, let’s look at the argument that you need a big office because it provides you with extra space. In truth, this argument is pretty invalid as there are ways you can operate a large-scale operation from a small office. Below, you will see two ideas that can help you run a big business from a small office:
Possibly the main argument for needing a big office is so you can employ a lot of workers for your company. In theory, the more your business grows and becomes successful, the more employees you’ll need. This is true for a lot of companies that require extra manpower as they increase in size and start making more money. But, it’s not true that you’re dependent on a big office to house all your employees. They can conduct remote work from any other location they wish. You could have all your staff working from their respective homes if you want. Thanks to modern internet technologies, collaboration and remote work are so much easier than they used to be. There’s constant and instant communication between you and any of your remote workers. Plus, some studies show that when your employees work from home, they can be more productive. So, you can have a small office and still hire plenty of employees to handle your growing business.