The test of a healthy business is that it can run in its owner’s absence. Can you pack a bag and jet off to Costa Rica, right now, for a month? And will your business survive, let alone thrive?
Most entrepreneurs have a clear vision. Their problem is that they don't communicate it well. And while that may go unnoticed in good times, it leaves employees feeling uncertain, and leaders feeling frustrated when the going gets tough.
According to author Alex Soojung-Kim Pang, four hours' focus is the maximum most humans, can manage. Indeed, in his book: Rest, why you get more done when you work less, he suggests the average office worker can achieve as much work in four focused hours a day as in eight.
It used to be a challenge to find information on your competition, but that’s all changed thanks to the internet. Nowadays, you hardly need to leave your desk, unless of course you're into some serious industrial espionage. Assuming that’s not the case, your biggest challenge is going to be dealing with an information overload.
Last week I was in Berlin to attend this year's EU-Startups Conference. The Conference is an event for aspiring entrepreneurs aiming to build global companies from within Europe. An occasion for founders, startup enthusiasts, corporates and investors to come together, network and discover opportunity.
Most European startups will need to expand beyond their borders to break even and become profitable, these are things to consider when growing beyond the EU
Once you've found traction in your home market, it's logical to set your sights on expanding beyond your borders. Most European startups know that their primary market is only their first market, and identifying new markets is crucial to breaking even and beginning to make a profit. But breaking into new markets can put significant strain on a well-established business, let alone a startup.
As a business owner, it's exciting to see your business expand into new countries. On the flip side, international expansion can bring an array of new challenges.Often small businesses wander into global growth by accident. The result of an opportunistic deal in another country. The deal went smoothly, the sales process was similar, and now the sales team is excited by the prospect of expanding into a new market.
I was going through my usual morning ritual; preparing my first cup of coffee (in Italy), checking in with the talented Paula and Simi (based in Romania), preparing for a call with the Indoo.rs team in Vienna, and flipping through the queries on HARO – yes, I can multitask.
Are you considering growing your business and expanding into new markets? Have you thought about the effect growth may have on your business? That growth doesn’t necessarily translate into more profit.