These are interesting economic times, with a variety of challenges facing small and medium-sized businesses. There are, however, also opportunities for entrepreneurs best suited to pivot and take advantage of complex and adverse circumstances.
Adding a business partner to your company structure is a pivotal, strategic decision that can have positive or negative consequences. Determining whether this is the time to form a partnership depends on several factors, including your areas of expertise, specific goals, and who you’re considering bringing in. Knowing the pros and cons is the key to making the right decision for you and your small business.
What may have started as a one-person operation has now grown into a small business that requires additional labor. The options are to hire employees or outsource the work to an agency or independent contractor. Here is some perspective that can help you decide which might be the best fit for your company.
There are few things more terrifying for small business owners than to have their internal computer systems hacked and their sensitive data held hostage. Most often, the ‘bad guys’ are looking to get paid to return what they’ve stolen, whether that’s information and/or complete control of your computer systems. What’s your next move?
While you no doubt know your business inside and out, the most successful executives are ones that can effectively share their vision, strategies, needs, and expectations with a wide variety of audiences. Whether internal or external, current and potential stakeholders require clear, concise, and nuanced communications from your company’s senior leadership.
One of the most important decisions executives must make relates to the company’s information technology function and who is responsible for maintaining internal systems. Whether outsourced, in-house, or a combination of both, the key is to get the service you need when you need it.