Strategy

Terminating a business can be a difficult decision, especially if it is a long-standing part of your life. However, maintaining an inactive one can cause financial hardship or legal risk over time. Regardless of the reason behind your decision, closing an inactive company can be a necessary step for moving forward with your life.

Should You Close Your Inactive Business?

Shutting a firm down is never an easy choice, but there are valid reasons some owners decide it is the best path forward.

Small-business owners and freelancers are often one-person operations or have limited staff. They may rely on a single big client for most of their revenue. Unfortunately, even long-term relationships can change on a dime, and you might lose your biggest customer.

In forums across the internet, entrepreneurs lament a sudden loss of their income. Their longtime client hires a new manager and they cut ties, someone goes out of business, a customer dies or they outsource to another country or even move operations in-house. 

Things may seem bleak, but there are ways to recover and thrive after losing your biggest customer.

It only takes one significant change to derail an entire department, throwing communication into chaos and causing unplanned downtime. How can business professionals make their teams resilient to change? While no one-size-fits-all solution exists, there are several proven strategies they may find helpful. 

Websites, social media and other digital channels have become the primary means of discovery and engagement. Since traditional branding has shifted to digital applications, maintaining a strong presence online is essential for building trust and credibility. 

Yet, if this presence requires you to rebrand, a strategy will need more planning than you might think. That is why there are several considerations to keep in mind when planning your digital-first rebranding strategy.

Innovation is a tricky subject for tech companies. On one hand, they can surge ahead of the competition by making technological breakthroughs. On the other, it can be difficult to justify the costs of research and development when less disruptive products can still sustain a business. Tax incentives seek to make things easier.

The government offers several promising tax cuts and similar programs that can spur innovation. Here’s a closer look at how.

The line between blue-collar and white-collar roles has always been well-recognized. However, as leaders seek clever ways to address the white-collar talent shortage, overlooked blue-collar professionals may help fill the gap. 

Recruiting former blue-collar talent could be a game-changer for businesses, especially since these individuals often deliver a wealth of knowledge, unique skill sets and an incredible work ethic. Here's why leaders should embrace blue-collar hiring, plus several ways to overcome the challenges of a dynamic workforce.

In the much-anticipated new book, "Dare to Relate: Leading with a Fierce Heart," trailblazing former federal agency CEO, TEDx speaker and renowned relational leadership expert Cheryl L. Mason, J.D.

Today’s digital landscape poses significant cybersecurity threats to small- and medium-sized businesses (SMBs). In the past, the castle-and-moat network security model — a protected perimeter to safeguard a company’s information and assets from cybercriminals — was sufficient. However, the rise of remote work and cloud-based applications calls for a zero-trust approach.

Zero trust is typical among larger enterprises and government bodies. Although SMBs can implement it, doing so may seem daunting. The following is an overview of the zero-trust security model, its importance and the steps brands must take to strengthen their online defenses.

Taking your business public is a significant milestone that can open new opportunities for growth and expansion. Going public can provide access to substantial capital, increase your company’s visibility and enhance its credibility. However, the transition of an initial public offering (IPO) also brings new challenges.

To achieve success, careful preparation and thoughtful planning are essential. There are numerous considerations to have in mind, and knowing each of them will be critical to ensuring public ownership is a good decision.

Mergers and acquisitions (M&As) can be a beneficial but challenging undertaking in any industry. Even after months of careful planning, businesses must monitor their M&A’s success to determine any necessary strategy changes in the future. That’s not always as easy as it seems, especially in the digital content industry.