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Virtuzone Business Intelligence

Category: Business Ideas

Leadership style

Successful businesses require strong leadership, but the leadership skills that provide the spark for a small business to take off are not the same as the skills required to keep a large corporation powering forward.
As businesses grow, their leaders must adapt and learn. So if you’re a small business leader with ambitions to scale, what are the leadership skills that you’re going to need and how can you acquire them?

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Brand awareness

Entrepreneurs often dream of the sort of supercharged brand awareness that eclipses the competitors and becomes so ubiquitous that it enters everyday language. Local companies here in the UAE that have gone from nothing to household names have done so by identifying their ideal customer, offering them sustained engagement and value without appearing to sell, and then harnessing that loyalty by exceeding customers’ expectations. Here we look at three key principles which are not only cost-effective but crucial to the sort of engagement every entrepreneur should be chasing.

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World Environment Day

“I’d love to save the planet but the health of my business comes first.” If that is your response to the proposition of taking sustainability seriously, you’re not alone. However, lowering your company’s carbon footprint, reducing waste and encouraging sustainable good practice among your workforce and suppliers can reap significant economic benefits. Here, we look at how.

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Business Plan

A business plan helps you decide if your entrepreneurial idea has potential, helps you improve your business concept and is normally essential for accessing funding. And if you’re planning to start up a new business in Dubai or the UAE, having a business plan is more than just a ‘nice-to-have’. In certain scenarios, having a business plan is a requirement, without which you won’t be able to start your company at all. Here we look at how to write the perfect business plan for your UAE startup

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Key to success

To ignore or not to ignore competitors. If that’s the question, what is the answer? In this article we look at both sides of the argument and understand where the entrepreneur should stand on what is both an important but often divisive issue. Is there a middle path through all this, and if so what does it look like in practical terms?

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Business success

It’s become a catch-all phrase for almost any business innovation that shakes up and challenges the dominance of incumbents in a given market: disruptive innovation. But what if your business idea is not so revolutionary? What if it’s just a service or product that fills a gap in the market? Can it succeed without setting out to be disruptive? And what can you learn from those disruptive success stories that could be of benefit to your own business?

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Copycat approach

Whether you’re an aspiring entrepreneur or an executive of an established business, at some point you may have thought of how to ‘uberfy’ your business or ‘Netflix’ your profits. But the graveyard of copycat business ideas is full – remember Zune? Or Amazon Fire Phone? Or even Google+? As an entrepreneur, jumping into a new market or expanding in a highly competitive existing one is not easy. So, let’s look at some high-profile companies and their copycat products that failed miserably – and what you can learn from them for your businesses.

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Work anywhere culture

With three-quarters of UAE employees reporting that a remote and flexible work schedule increases their productivity, entrepreneurs and business owners are increasingly looking at the potential gains of adopting a remote ‘work anywhere’ culture. And it’s a worldwide trend. The Work Foundation predicts that by 2020, mobile working by individuals and organisations will reach an adoption level of 70%. But is this just a case of employees taking advantage of mobile technology to make their working life more comfortable, or are there measurable benefits in remote working for employers and clients?

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Business activities

In the early stages of a new venture it’s not unusual for entrepreneurs to multi-task: they can be CEO, CFO, HR manager, IT trouble-shooter, receptionist and bookkeeper all in a day’s work. But in doing so they can waste a huge amount of time on mundane tasks, time which could be better spent on business development, company strategy and attracting new talent. Although resources for direct hires can be tight in the early stages, a whole host of mundane tasks can be affordably outsourced with infinitely better results, allowing leaders to focus their time and energy on the profitable and productive business of building a new enterprise. Here we look at just five functions you can outsource to make you more efficient, and to create a stronger impression of presence, credibility and legitimacy.

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What’s eating away at SME profit margins?

If you’re running a small or medium-sized company and seeing your profit margins eroded all round, you’re not alone. Dubai is often seen as a hotbed for SMEs in our region – even globally – yet comparing it with other centres yields a surprising result. Productivity in Dubai’s SME sector is actually lower than other trading and service-oriented economies, including Singapore and South Korea. The UAE Banking Federation reported last year that an initiative to support struggling SMEs had resulted in the restructuring of AED 7bn of debts held by 1,700 companies. In this article we examine four areas that are contributing to the SME situation in our region, and consider some solutions to help entrepreneurs develop better innovative reflexes, drive change and generate healthier profits.

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