Strategy

No matter what you sell, you have a supply chain. Perhaps you are the manufacturer and must get goods to your customers. You might run the transportation company that gets products from one location to the next. Perhaps you are the retailer and rely on a supply chain to keep things moving smoothly. 

No matter where you are in the supply chain, you can take some steps to protect your business even during difficult times. The business Invesp reports 79% of companies with well-managed supply chains see greater than average revenue growth. Taking the time to tweak your supply chain is smart. 

The September 11th attacks. The Great Recession. The COVID-19 pandemic.

All three of these seismic and tragic events have resulted in heartbreak to humanity, including loss of life and our emotional well-being—both individually and collectively. Of course, accompanying these global crises were monetary meltdowns reminiscent of the Great Depression that commenced in 1929 and lingered until the late 1930s.

Building a tech business from the ground up is a tremendous effort that can take some serious cash. Often, however, tech companies staffed with talented devs and businesspeople fall into a few of the same pitfalls — even if they have enough money to succeed. They may fail to invest in essentials or allow certain expenses to overtake what really matters.

These are a few of the right and wrong investments for any tech business, and how you can prioritize your spending for success.

The Right Investments

If you want to increase your cash flow, consider some of these worthwhile investments.

While some contest, or outright refute, whether or not former British Prime Minister Winston Churchill famously said “success is not final, failure is not fatal: It is the courage to continue that counts,” the power of that statement looms large irrespective of origin. Amid the wildly unforeseen fallout from the COVID-19 pandemic, this quote is rather prophetic. It speaks to prosperity not being taken for granted and the notion that failure in and of itself isn’t a death knell and.

Let me tell you, in plain and simple words – app development seems easy only in the labs. It is when you step into the game yourself that you realize that it was nothing but a smokescreen. You have to work hard and ensure that users enjoy a seamless experience. It doesn’t matter if you are a pro or a newbie. You can come across troubles that you never knew existed.

A report published by Fortune shows that 75 percent of app downloads open an app once and never come back. 

And that’s not it.

​​​​New data released today found that 94 percent of IT decision makers face barriers to cloud success, with a majority citing a shortage of talent as a top challenge. The survey report from Wakefield Research and Logicworks, a leading cloud migration and managed services provider, highlights why cloud projects tend to slow down, and confirms that non-technical challenges are the most significant roadblock in cloud transformation efforts.

Recycling isn't only for huge corporations or community organizations. Even the smallest of tech startups can benefit from adopting a green philosophy. You'll save money and do something good for the environment in the process. 

According to the U.S. Environmental Protection Agency, the country generates about 267.8 million tons of solid waste annually, or around 4.51 pounds per person each day. Only 94 million tons of that get recycled or composted. With only a 35% recycling rate, there is a lot of room for improvement, especially in the business sector.