October 21, 2018
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The following content was submitted on behalf of Valpak.
A crucial step that all business owners and entrepreneurs need to take, at some point, as they grow is a business price increase. As your service or product improves, so does its value. It’s helpful to perform research into your competitors and industry before you make a jump. Is the increase justifiable? More often than not, a price increase will spark some conversation and uproar among your users or customers.
While you can’t control how your customers react, you can take the necessary steps to avoid push back. Be honest and transparent. Communicate the change with your customer’s needs in mind by clarifying the added value or benefits for them. You may be surprised with how consumers will be willing to pay a little bit more for a much better result or added value. For more specifics, Valpak breaks down twelve actionable steps to raise your prices and how to handle an upset customer as a result in their infographic below. Read more of this post
September 2, 2018
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Written by Todd Baker
Edited by Lynn Patra
This article was originally published on UpCounsel.
What Is Intellectual Property?
Intellectual property (IP) is a general term for the rights recognized by Nigerian law for creations of the mind, including:
- Patents – rights granted to inventors for novel and useful inventions.
- Trademarks – rights granted to businesses relating to the branding of their goods and services (company, product and service names).
- Copyrights – rights granted to authors for tangible expressions of ideas (art, literature, music, software code, architectural plans).
- Trade secrets – rights granted to businesses relating to their unique and valuable intangible assets (business processes, client and customer lists, procedures, practices, formulae, research notes, market data).
Types of Patents
There are three types of patents that every startup should be aware of: Read more of this post
July 16, 2018
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The following infographic, submitted by Circa Interactive, summarizes elements of effective business management models. In terms of change management, for instance, check out what this infographic says about growth and change, the role of company culture, and barriers to change. This is followed by an informative overview of change management programs.
To run successful businesses, entrepreneurs must adopt new management strategies that promote staff retention, revenue generation, and workplace culture. This is in addition to exhorting rank-and-file staff to support change programs. Failing to do so can be costly for a business.
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