You have an amazing software idea and you're ready to make some money with it. Have you figured out your product's niche market? Have a business plan already? Are you already getting feedback from customers? These are just a few questions to consider as you take your product to market and start enjoying that recurring revenue.
From HR Tech to other models, businesses are expanding their capabilities by offering their services as a subscription. For the same reason that your customer would hire an employee or purchase a product to take on the responsibility of a certain task, as-a-service models allow them to pay a recurring fee for the same product or service instead. Have you thought about how to capitalize on the subscription model for your business?
Here's why businesses are offering as-a-service subscription models.
In every business, employees are the most powerful and often, most expensive, resources. Human resources managers are tasked with hiring the best people in the most efficient manner, onboarding them quickly and supporting the overall employment experience within the company. It's quite the challenge to manage all of the paperwork, changing job specifics and the actual human resources. Thankfully, there are a number of software-as-a-service companies getting into the mix.
Here's how HR Tech SaaS companies are transforming the HR industry.
Defining 'startup' isn't as simple as it would seem. To some, your business is no longer a startup when you begin turning a profit. To others, 'startup' is a state of mind, like always chasing or hustling to push out new ideas. If your company has been calling itself a 'startup', what have you determined pushes you past that startup idea?
When is a startup considered a real business?
As we've said before, time is money. With that in mind, the last thing you or your sales reps want to do is spend time with a client who:
- Doesn't match your version of the ideal client
- Doesn't have a need for what you're offering
- Doesn't have the money to pay you
Timing is also everything. Your salespeople need to be able to identify if the client meets all of your qualifiers and is ready to buy.
Here are 8 open-ended sales questions to qualify if a client is worth your time.
Small businesses and startups must think on their feet, and that includes getting their accounts receivables paid quickly. Business relationships are an integral part of the success and growth of these companies. Protecting these relationships should be a part of the collections process as well.
When time is money, here are quick debt collection tips for small businesses and startup companies.
When you're trying to learn more about your business finances, a cash flow statement is a must. This financial statement paints a clear picture of how your business is managing its cash to pay debts and fund operations. The cash flow statement can help determine the success of your business and be an important indicator of potential to an investor.
What is a cash flow statement and why is it important?
A recent report by Freelancer.com revealed that freelance jobs increased over 25% in the 2nd quarter of 2020. With the continuation of uncertainty in the pandemic, employers are looking for a more flexible and remote workforce, even replacing some full-time positions with independent workers. Striking out on your own can be daunting but it can be done, and quite successfully.
For this post, we turned to the freelancers on Twitter to learn some hard-earned advice.
Here are 7 tweets on how be a freelance success.
Whether you're working for an company or on your own, the thought of saying 'no' to a client can be panic-inducing. It can be especially stressful if you're starting your own business or trying to grow your new business. The good news is that there are particular situations that actually call for a resounding negative response. When you say "no," you can feel like you're doing what's right for you and your business.
Is the customer always right? Here's when and how to say 'no' to a client.
If you're starting a new business or have grown a business from the start, you will have some idea of what it takes to "wear many hats" or be as resourceful as possible. During that startup phase, you're analyzing, measuring, listening and on high alert to what is making your clients happy. According to best-selling author and researcher, Scott Sonenshein, this resourcefulness reveals a "stretching" mindset and is one of the reasons you're succeeding.
If you're struggling, it may be due to a "chasing" mindset.