Virtuzone Business Intelligence

Category: Startups

food trucks dubai

Are food trucks Dubai’s next big startup business opportunity?

Time for a lunch break? Or maybe it’s not even about lunch, but an entrepreneurial opportunity in the making. Because you may have noticed a change in Dubai recently: An abundance of food trucks. It’s a trend spreading throughout the UAE and the world – according to the Food and Agriculture Organisation of the United Nations, an estimated 2.5 billion people worldwide eat ‘street food’ on a daily basis.

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Listening ability

Why business advice that ‘feels right’ could damage your startup

Every year, millions of new businesses are launched around the world. And with this tidal wave of entrepreneurship comes an even bigger tsunami of advice from books, magazines, consultants, self-styled business gurus and university professors. And while a lot of the info sounds spot on, some of the most commonly repeated advice may in fact be the most misleading. Let’s take a look at some “words of wisdom” that may in fact slow you down.

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Five signs you are heading for startup failure

Anyone who is planning to start their own business will probably be acutely aware of the sobering figures on new businesses: According to the US Bureau of Labor Statistics, the percentage of companies that survive for five years hovers around the 50% mark. If we look at ten years then it’s around 30%. It’s vital to keep an eye out for some of those early warning signs that your company may be headed for the history books.

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Boss call

The six worst sales excuses you’ll ever hear

Sure, there will always be an element of natural charm and even luck when it comes to sales, but those who succeed above and beyond everyone else are always found to be putting in the hours to overcome stumbling blocks – rather than offering an excuse at every turn. It may be anecdotal, but the oft-quoted line ‘80% of sales are achieved by just 8% of the salesforce’ has more than a little truth to it. Let’s look at six of the top excuses those who don’t fall into the “8% category” often come up with.

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The first four things to do after incorporating your Dubai business

Your Dubai business is off the ground. So what next? As a city that never stops growing and is comprised of a diverse, largely expat society, this is a place companies, investors and customers thrive and intertwine in a unique business ecosystem. To be part of this will be a true adventure and there is every opportunity to succeed – you just need to get organised. With that in mind, let’s look at four areas that should be top of mind as you open the shutters on your new Dubai venture.

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Four money mistakes that will sink your startup

You have the best business idea in the world. But without the funds to prove its worth and get your organisation off the ground, it counts for very little. And of course, finding the money to get things moving is only the start – you then need to bring in enough cash to stay afloat. Researching over 300 startup business post-mortem essays, VC firm CB Insights discovered that a lack of capital was acknowledged by 26% of them as causing the demise of their businesses. When it’s put like that, it sounds so obvious – you run out of money, your business goes down. But it is of course more complex. So with that in mind, let’s look at four key mistakes new businesses often make.

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Startup life: Six rules for surviving the first two years

For a startup, it can sometimes feel like a struggle to survive. One-third of new businesses don’t make it past the two-year mark according to a study by the Small Business Administration in the US. And while that first year may be full of the excitement of setting the foundations and getting off the mark, it’s the second year when you need to see traction and growth – it’s this period that exposes businesses that are not working. So it’s about solid foundations: Your infrastructure, offering, and most of all your customers – all in place by your second year in business. With that in mind, here are six rules for surviving those crucial first two years of your entrepreneurial endeavour.

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How to become a motivational leader

It’s one thing to be motivated. It’s another to be motivational. Over the years, the vast majority of investigations into what motivates employees have come to similar conclusions: It is not always the more obvious incentives such as money, rather it is the actions of other people, often those in senior positions. Inspiration, praise and acknowledgement from leaders ranked higher as effective motivators than financial incentives such as pay raises and bonuses. If employee motivation is so important, and the source of that motivation more often than not comes from leadership, the next question is: What are you doing to ensure you are a motivational leader?

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Five signs you’re ready to start your own business

If the desire is there, my advice is to go for it. The world is full of ‘wantrepreneurs’ who always had the urge to start a business but just never felt ready due a combination of fear and self-doubt. Don’t let that hold you back. Of course, a little qualifying never hurt anyone, and if you can get some cues in advance that will hint at whether or not you have what it takes to be a successful business owner, that extra confidence can be worth its weight in gold. With that in mind, let’s look at five signs that you are sure-fire entrepreneur material.

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A look at three very cool UAE home grown companies

We talk a lot about the sheer number of businesses setting up in Dubai, but what’s equally impressive is the incredible diversity of industries in which they are working. The Brookings Global Metro Monitor ranks metropolitan economies around the world and puts Dubai in an incredible fifth place in terms of “overall performance”, while the Global Innovation Index (GII) study found the UAE to be the most innovative country in the Middle East. This is all about Dubai pushing forward in technological development and encouraging public/private sector collaboration. The end result: An amazing playing field for businesses. Let’s take a look at three which have taken full advantage of the infrastructure to rise to new heights.

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