4 Ways to Ensure Your Business Doesn’t Stagnate

A business needs to find ways to diversify their brand, introduce new products and grow their audience. If they fail to do one of these things, they risk becoming stagnant and falling behind the competition. This is never a good position to be in as it can seriously hinder your growth potential.

So what should be done about it?

1. Get on social media

One of the best ways to stay relevant and keep up with trends is to get yourself on social media. Social media will help you keep track of what’s going on in the industry, but also gives you a way to keep in touch with your audience. It’s fantastic for networking as well and you’ll definitely want to focus on creating a presence on multiple social media platforms if possible. The use of social media as a marketing tool is incredibly powerful, but you need to use it in the correct way or else it could have a negative effect on your business.

2. Think outside the box for revenue opportunities

Growing your revenue requires that you think outside of the box now and then. This will ensure that you’re diversifying your sources of income and gaining extra capital to assist in your business’s growth. There are many ways to diversify, such as renting out your employees on a contract basis or even renting out your private land and property to other companies. Companies like Vertical Consultants specialize in the renting of your private land to attract telecom companies who are looking to raise cellphone towers in your local area. The goal is to use your resources in an efficient and effective way in order to create more income streams.

3. Don’t do everything yourself

Make sure you don’t try to do everything yourself in your business. This is a common problem that a lot of entrepreneurs face because they’re worried about the costs of hiring an employee. They might also be fixated on quality control, unable to trust others when it comes to communicating with clients or creating products to sell. This is a bad habit to get into and it’s vital that you open up a bit and consider hiring employees. To start, you could also look into freelancers that help you remote with things such as website and logo design.

4. Use modern technologies when possible

The use of computers is essential to be competitive today, but it’s not the only form of technology that you should be looking into. There are plenty of hardware and software solutions that can help you speed up your tasks so that you’re more productive. Even something like accounting can be simplified with the help of cloud accounting software. However, this can quickly become an expensive money sink and it’s essential that you consider how much money you’re spending and how much return you’re getting on your investment. Saving a couple of hours each month could be worth your money as long as the time you save helps you grow your business and generate more revenue.

5 Strange Things About Denmark

1. Spicy Traditions
Let’s start with some rather odd Danish traditions surrounding milestone birthdays. If you turn 25 and are still unmarried (which is increasingly common in this country where marriage is seen as optional), the tradition is to throw fistfuls of cinnamon all over the person. We’re not talking a little sprinkle of sugar and spice. Some people are caked in it. And if you’re not wed by 30, they douse them with pepper!

2. What’s In a Name
Sorry Gwyneth and Kim, but in Denmark you wouldn’t be free to name your kid Apple or North. Baby naming is regulated by several government Ministries here, to ensure that you don’t saddle your offspring with a whimsical, frivolous or silly moniker. The culture respects sameness more than standing out, so names are pretty standard. Parents can choose from about 7000 pre-approved names for boys and girls. If you try to register an odd spelling of a familiar name, chances are it will be rejected.

3. Helmets Optional
Bicycles are the preferred method of transportation for Danes, and there are wide bike lanes along the roads everywhere you look. In fact, there are more than twice the number of bicycles than cars in the country and over 50 per cent of Copenhageners of all ages regularly get around on two wheels – and love to ring their little bells while doing it! However, it’s interesting to note that while it’s one of the most cycle-friendly nations on Earth, they also have one of the lowest levels of helmet use.

4. Rule Breakers…Nope
Danes are sticklers for rules and this can come as a shock for visitors. For example, even when no cars or bicycles are in the street, it’s a ghost town, and proverbial tumbleweed rolls past, Danes will wait patiently on the sidewalk until the flashing LED man tells them to cross rather than jaywalk. It’s shocking to see it live and easy to tell foreigners from locals when a lone Dane is left standing all alone on a recently vacated sidewalk.

5. The Legality Of Pusher Street
Amsterdam may have its Red Light District, but Copenhagen has their Green Light District. Freetown, on the island of Christiania in Copenhagen, is a self-proclaimed autonomous neighborhood established by hippies in 1971. It began as a social experiment in alternative lifestyles and has been known for its rather liberal attitude towards drugs. The main drag is known as Pusher Street, where weed and hash were openly tolerated up until 2004. It’s now technically illegal, but the business still thrives – you just have to be a little more subtle about it. It’s a fun area to explore, but don’t don’t even think about documenting your time in this “green” bazaar however, as “No Photography” signs are everywhere, along with runners and bodyguards who ensure this remains the case.