What to look for When you Invest in a Business

What Is Business Development and What Skills Are Needed?In order to protect a business’ trade secrets, business models, and other sensitive information, a business attorney may advise a client to incorporate non which three factors transformed industry during the gilded age? -compete and non-disclosure agreements in a manner that makes sense for the particular needs of the business. Non-compete agreements and non-disclosure agreements (NDAs) can often create a more secure and trusted partnership between business professionals and their employees or business partners. This is especially important when trying to determine if a particular business relationship or employment relationship is in both parties’ best interests.

From the business owner’s perspective, the non-compete is the company’s way of saying, “I really want to hire you, and I believe that we will have a great future together. When i hire you I will be revealing valuable information about our products, services, clients, trade secrets, proprietary and/or confidential information, business model and more. This information is something that our company has worked hard, and invested significant resources, to develop. So in exchange for your employment with my company, I am going to ask that for a certain period of time, that you not use the information you obtain while working with our company to go start your own business or work for another business that is in direct competition with us. ”

To further ensure the security of a business, a business that wishes to protect sensitive information should strongly consider implementing a non-disclosure agreement (NDA). A non-disclosure agreement is a contract between two or more parties in which certain parties are going to be provided with specific information or knowledge (often proprietary or confidential information, trade secrets, business strategies and more) that the revealing party does not want to be shared with third parties.

Non-disclosure agreements are often entered into by separate businesses, or by partners of the same business. A non-disclosure agreement, may be crucial to secure the trust in a new relationship between businesses. Often, one business is considering partnering with another business, but in order to vet the potential relationship, one business must reveal valuable information about its plans, business strategy, product, service or otherwise. A non-disclosure agreement can secure the confidence and trust between the parties and allow them to discuss the full details of the potential relationshipMembership of our free Online business Coaching Club provides access to more than 5 years of business improvement ideas, business coaching modules, videos and workshops. Our coaching program is delivered online and designed to give you time to properly learn, plan and implement the business improvement strategies which will allow you to build a High performance Business that delivers increasing profits, consistent growth and a better personal lifestyleConsider this: a survey conducted by WebVisible & Nielsen showed that 3 out of 4 people use the major search engines to find local businesses. This means that if someone is looking for a local restaurant, a shoe repair shop, a specialty bookshop or any local service, 75% of the time they will use a search engine such as Google to find this business. As such if you are not online, it means that up to 75 percent of your potential customers are not finding you. However, what if they could find you and see the range of products and services you are offering? This can go a long way in boosting your customer base and your business profits too.

Unlike the brick-and-mortar shops that have to close at some point in the day, the internet opens 24/7. By having an online presence, your business will go on regardless of the time of day. Customers will still be able to look around your online shop and your product offering and make purchases. This essentially maximizes the business hours so that you are operating a 24-hour business without the need to be physically present. By being open for longer you will be surprised at just how much you will be able to improve on the sales numbers and overall business revenues.

Over 2 billion people have access to the internet today. This global audience presents a lucrative opportunity as prospective customers. If you have the capacity or the long-term plans, you can sell your goods and services to people in other countries. Instead of setting up a brick-and-mortar shop in every country or geographical location that you want to reach, you simply need to set up a virtual shop that anyone can access.

Gaining an online presence for your local business is made easier by free online tools and mobile & web applications that your customers can use to find out what you are offering. Because people are looking online first before they can make purchasing decisions, it means that those local businesses that have an online presence are attracting more customer inquiries. Any business knows that inquiries, even though they do not lead to an immediate sale, are not necessarily a bad thing. It is through answers to inquiries that you are able to pitch to your local customers. But without an online presence you just might not have as many prospects to pitch to as you would like.

Both online and offline businesses rely on ‘word of mouth’ as one of the most significant channels of their marketing. But as an offline business, ‘word of mouth’ reviews by customers can only reach so many people, usually a customer’s close friends and family. Yet an online presence allows customers to post reviews about your business and thousands of potential customers will access the reviews and your product offering. Of course, reviews can make or break your business; you need to offer the best services and customer support for your business to receive great reviews. Having an online presence offers your customers a viable platform to undertake ‘word of mouth’ marketing on your behalf. Many studies have shown that potential clients often look through reviews before they can purchase a product or service offering from you.

Brand visibility means making your brand known to potential customers. As a brick-and-mortar business, you might be surprised to find out that just a few people know about your business brand. But by bringing your business online you become more visible to the people that matter the most: potential customers and the media. The media, whether social or mainstream can play an important role in promoting and marketing your business, but you have to let them know that your business exists in the first place.

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