Group buying or collective buying is fast gaining popularity among business owners. The idea originally hailed from China where it is known as Tuangou. Online group buying was first introduced through an e-commerce start-up, Mercata, ten years ago and they had dubbed this business plan as “We Commerce”. For those business owners who are still trying to grasp the concept of this phenomenon, let me break it down for you.
Let’s say you are a subscriber to a discount website or a daily deals site as it is more popularly known nowadays. You would see various offers on product discounts on the site and if you are interested, you would just need to enter your payment details and wait until the minimum number of people is reached.…
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Your website is the front door to your business. It’s imperative potential clients and customers know where to find you, and once there, have a clear idea what your company does and how it can benefit them.
Credit cards can be a wonderful business tool. They allow you the flexibility of easily using credit to make purchases under the promise that you will pay back the money that you borrowed on credit. Credit cards are a great tool for consumers and for regular small businesses. They give you easy access to credit and allow you to focus on what is most important for you in your business and in your personal life.
So corporate life isn’t cutting it and you decide to become an entrepreneur. You translate your idea into a business plan, raise a little capital and start executing your plan. You quickly learn that growth takes longer than anticipated and costs are more than budgeted. So to keep your net profits as high as possible, you take on more and more responsibility for the day-to-day execution of the plan.
