Mohit Tater's Blog, page 524
January 24, 2020
Important things to consider when Hiring Your Start-up’s First Employee
Typically, the first few people who join your start-up company will end up being partners or something very close to them. It takes a while before you get to the stage where you’re hiring rank and file employees. Of course, in the interim, you might be more likely to hire an independent contractor or freelancer for non-executive labor. One in ten workers in the US is an independent contractor now, according to the US labor department.

Getting ready to add to your staff
As a small business, you can’t afford to make many mistakes at this juncture. Here’s a quick checklist of things to take into consideration:
How much can you spend on compensation, and is it a competitive wage?How do you propose to train them so they enter their productive phase as soon as possible?Do you have measures in place for assessing qualifications, such as running a background check?What perks or packages can you also offer?Are you prepared to take on all the legal obligations of becoming an employer?
Compensation is a tricky number to arrive at. Today’s job market is highly competitive, with unemployment holding at 3.5%. It’s the worker’s call since most qualified candidates have multiple employers to choose from. On top of that, it takes a special person to look at your garage-sized company and decide to hitch their future to your business. You should try to impart your business vision and why you’re destined for success.
The low unemployment factor means that you also have to think beyond a mere paycheck for compensation. For permanent, full-time employment, you’ll have to think about health care, 401K, family leave, and much more. This list offers some ideas to make your company more attractive to job-seekers.
Testing yourself out like a boss
When you start a business, you’re an entrepreneur. When you work with several others together, you’re all partners launching a firm. When you hire your first employee, that is the day that you cross the threshold and become a “boss.” So what kind of boss are you?
Chances are you will want to look to your candidates for potential, and not just their past experience. Perhaps in your interview, you can have them demonstrate their skill and capabilities since you can afford to be a bit less formal. If you work with partners, have everyone on the team take a joint interview with the candidate.
Once you have a candidate picked out, you will have your first experience onboarding a new employee. You will want to at least consult with a legal professional about labor laws in your area, and drawing up an employment contract or other relevant paperwork. Don’t forget taxes, you will need to start tracking those.
As a small company, your best bet is to delegate to your new hire, rather than micromanage. One of the reasons people join start-ups, after all, is because they like being part of a select, forged team where they are entitled to a little empowerment and even a tier of the decision-making process once in a while. They don’t want to be a part of a bigger company where they’re just a name plaque on a cubicle. You can help that spirit along by encouraging your new staff member to take a more executive-like role in the way your company runs.
Growing your company
The first few positions you fill might be general management or experts in your company niche. But after your business stretches out of the “start-up” leagues, you’ll need to fill mundane positions like a marketer, IT technician, or purchaser. By the time you’re down to subcontracting for maintenance and on-site security, congratulate yourself: You are no longer a “small” business!
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January 22, 2020
4 Ways to Reduce Sickness Rates at Work
One of the main challenges human resource managers face is sickness absence. When many employees take sick leave, tasks have to be reassigned, or some projects need to be put on hold. The disruption in operations always has an impact on the productivity and profitability of a company. Therefore, it is in the best interest of an organization to find out the root cause of sickness absenteeism. Studies indicate that most absenteeism is due to minor illnesses like flu, migraines, and stomach upsets. That means if the company focuses on improving occupational health, days lost to sick leave will reduce drastically. Unfortunately, many organizations adopt punitive measures in dealing with absenteeism instead of determining the reason behind the increase in sickness rates. Here are four effective methods of reducing sickness rates at work:

1. Maintain a healthy workplace
As earlier mentioned, many workers take sick days for short-term ailments. Unhygienic work environments can often cause illnesses. Therefore, employers should keep the workplace clean and ensure there is a constant supply of fresh air. Putting air conditioning systems in place can help to keep the air clean as well as at an appropriate temperature. It also helps to deal with unpleasant odors quickly to create a conducive working environment.
Apart from contagious diseases, employees can also suffer from back pains due to poor ergonomic conditions. In order to circumvent this, workplaces should have suitable furniture that provides sufficient backrest and adjustable height. The workspace design should also allow smooth movement to prevent accidents and injuries. A healthy work environment should also reduce stress levels caused by poor lighting and noise disturbance. Therefore, managers should ensure there are various lighting options with adjustable brightness available, while also providing quiet workspaces for employees.
2. Promote healthier lifestyles among employees
Fitness lowers stress levels and improves productivity. Therefore, promoting a healthy lifestyle among your employees is a guaranteed way to reduce sick days. How do you encourage your staff to stay healthy? You can start by giving free healthy lunches. It is the perfect way to promote healthy eating and improve productivity. Besides, who would say no to free lunch?
You can also encourage exercising by subsidizing gym membership or providing coupons for workouts in the local gym. If you have adequate space and finances, you can invest in an in-house gym facility. Having a gym within the company building encourages exercising and a healthy lifestyle. With time, you will notice a reduction in sickness absenteeism.
3. Encourage a work-life balance
Employees need a balance between professional and personal life. Without the balance, their stress levels will increase, leading to absenteeism. To promote your staff’s wellbeing, you should create flexible working hours with breaks. Make sure employees do not skip lunch to complete tasks or do unnecessary overtime. Therefore, the upper management should lead by example by taking meal breaks and leaving at the right time. Annual leave should also be mandatory since working all year round increases stress and lowers productivity.
A work-life balance can be achieved through flexible working hours. For instance, you should assign tasks according to the employees’ preferred working time. Some people are productive in the morning while others prefer working late into the evening. Those with kids can work from home or go to the office a few hours a week. Boosting flexibility reduces stress levels and illness by providing autonomy in work hours and tasks.
4. Talk with employees who are frequent absentees
If you have staff members who take sick leave frequently, you need to round them up and have a chat. When employees take sick days regularly, it interrupts work routines and reduces productivity. Therefore, you need to discuss their situation and find out the reason behind their absenteeism. Once you have the causes of the absence, you can look for solutions and help them become more productive at work. Employees should be encouraged to consult with a healthcare professional before any illness becomes too serious and requires time off.
When discussing their absenteeism, empathize with them instead of using threatening language. This will encourage them to broach the subject in the future instead of taking a sick day without notice.
Illnesses are unavoidable, but companies can play an active role in reducing absenteeism. Employers should be at the forefront of lowering sickness rates at work by taking care of their employees.
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Get Renewed with the IRS Fresh Start Initiative
For many taxpayers who owe back taxes to the Internal Revenue Service, it is hard to settle tax debt. The added expenses and penalties associated with being unable to pay off a large sum of debt at one time complicate matters and can overwhelm taxpayers. However, the IRS established the Fresh Start Initiative, which is meant to alleviate the stress and weight of tax debt and allow taxpayers to move toward financial stability. Below is some information about the program, including payment methods that taxpayers can use to get rid of their tax debt.
History and Purpose

The IRS established the Fresh Start Initiative in 2011.
Formerly referred to as the Fresh Start Program, the Fresh Start Initiative is
a set of tax code changes that were made to help more people struggling to
repay tax bills. This program is meant to help taxpayers, including small
business owners, who are willing but unable to pay off their tax debt. The goal
is to offer assistance to taxpayers without the threat or added expense of
liens and penalty fees.
Fresh Start Repayment Methods
For most individuals, it is best that they reach out to the IRS directly and avoid contracting third-party firms to protect themselves from fraud and scams. There are three main options available to those seeking assistance in paying off their IRS tax debt. Decide which of the following methods is the most appropriate for you.
Payment Plan: The instalment payment plan is one that is likely to help the majority of taxpayers seeking to resolve their debt. It is in place to reduce the fees and penalties associated with paying late and can even help some on short-term payment plans to avoid fees altogether. Short-term plans are usually less than 120 days (roughly four months) and the terms for these plans and the longer-term plans must be negotiated on an individual basis. You will be asked to fill out Form 433-F and Form 9465 and submit them in accordance with IRS regulations and timelines. Offer in Compromise: An offer in compromise is the option most closely connected to tax forgiveness. However, it is a compromise that the taxpayer and the IRS reach where the taxpayer can settle their debt for less than what they owe. If you would like to make an offer in compromise, you will need to meet certain requirements to qualify for this option. The IRS will consider things such as your expenses, income, ability to pay, and asset equity. Additionally, you will need to fill out Form 656. Currently Non-collectible: This is a temporary form of assistance available to those who can prove a sudden and temporary financial hardship, such as unemployment or underemployment. It is a freeze on your account. This freeze does not erase the amount you owe the IRS but it does stop collection on your debt until you can start making payments.
If you are willing but unable to pay off your tax debt, the
IRS is willing to help you. Understanding the process and options available
under the Fresh Start Initiative Program is the first step to taking control of
any outstanding IRS tax debt and becoming debt-free.
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Reasons Why the Electricity Bill is higher during the Winter
Have you ever wondered why you pay more for your electricity bill during the winter? This tendency has been observable for many years. While in summer, your bill is quite tolerable, in winter the price of your electricity may make your head spin. It’s enough to take a look at texas electricity ratings to notice the difference in prices in different seasons. To save your energy, and in turn money, you should be aware of the reasons lying behind this phenomenon. Only then will you be able to fix it and shrink your electricity expenses.
People use more energy in winter
The first major reason why your electricity bill is much higher is the fact that you use more energy in winter. It’s the season when people usually sit at home in the evenings, watching TV, working on laptops, or browsing the web. Moreover, when it’s cold outside, they want to feel warm. It leads to higher usage of heaters, electric blankets and hot water. On a freezing day, you probably dream about nothing else than a hot shower or bath. These are the principal causes of your costs.
There are hidden costs
Paying for the bill, you should also be aware of the fact that the price doesn’t include only the cost of generating electricity, but much more. It covers the transmission of electricity to your home. And now imagine, in winter everyone uses their heaters more often, which stimulates higher costs of transmission that must be paid by lines companies. That’s why they usually pass these expenses onto retailers, who in turn decide how to burden consumers with costs.
Once you understand the reasons why you pay more for electricity in the winter season, you can take some steps to limit your energy usage. For more information on this topic, review the following infographic:

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Does your Website need PCI Compliance, and who is Liable for it?
Similar to HIPAA for the healthcare industry, PCI compliance is a hot topic for the online retail and business industry. You’re likely aware of what PCI compliance is all about, but let’s go through a quick refresher.
PCI (payment card industry) compliance refers to technical and operational protocol standards for businesses (that accept credit card payments) to follow. These are basically security procedures a business must follow, to reduce the risk of data theft (cardholder information) in the event of a data breach.
For the average merchant website (and even large corporations), being PCI compliant may seem like a burden, with a lot of rules to follow, and fees to pay. The fees for small merchants aren’t actually that much – a small business would typically pay around $300 per year to ensure PCI compliance in a self-audit, and an acquiring bank may pay for the fees as part of a PCI compliance program. A larger corporate enterprise, however, could pay upwards of $70,000+.
Who needs to be PCI compliant?
If you own a business that takes customer’s credit cards, no matter how small, even if you process only one credit card transactions per year, your business must meet PCI compliant standards. The penalties for not being PCI compliant range from being held liable for card replacements, bank fines or loss of business relationships with banks, law suits, and even state and federal government fines.
So clearly, the cost of being PCI compliant is a small pittance compared to how quickly you can go out of business for PCI compliance violations.
What happens during a PCI compliance audit?
The actual audit process will vary depending on your merchant level (amount of card transactions your business processes annually). There are four levels of PCI compliance:
Level 1: Over 6 million transactions annuallyLevel 2: Between 1-6 million transactions annually.Level 3: Between 20,000 – 1 million transactions annually.Level 4: Less than 20,000 transactions annually.
If you process less than 6 million transactions annually, you may be able to Self-Assessment Questionnaire (SAQ), instead of a formal PCI compliance audit. The SAQ can be filled out and handed over to your CFO for filing.
There are 12 main requirements of being PCI compliant, for all business sizes, so your main objective is to figure out which merchant level you are, and follow the correct procedures for either performing the SAQ, or going through an official audit with a Qualified Security Assessor (QSA). The above linked blog offers a ton of useful information on the best practices for becoming PCI compliant with as little hassle as possible.
Who is liable for PCI compliance?
In a nutshell, you are. The company is responsible for their own PCI compliance. There are two exceptions.
If you hire a third-party web developer and specifically state in a contract that the website must be designed for PCI compliance standards.
If you incur penalties for PCI compliance violations, you can sue the third-party web developer. In the event that you discover the website is not PCI compliant before any violations are incurred, you can use the contract to have the developer re-design the website, obtain a refund, or hire a new developer.
The other exception is if your hosting company offers payment processing tools for your website, and promises that the tools are PCI compliant. The hosting company may be liable if the tools were not actually compliant.
If the hosting company’s TOS or description of the financial tools promise PCI compliance, and your site is found to be non-compliant after using the hosting company’s tools, you may have grounds to sue them. Your users could also sue the web hosting company if their financial data was compromised.
At the end of the day though, it is ultimately your responsibility to make sure that your website is PCI compliant. Even if it is the fault of a third-party developer or your hosting company, you’ll need to take them to court to make them liable for the financial penalties imposed on your business.
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Startup Essentials: How to Make Your Business Thrive in 2020
If you’re starting a new business, it can be a little overwhelming knowing how to prioritize your to-do list. After all, you have to hire employees, create a marketing strategy, and prepare for the actual launch of your company—among many other tasks. Startups are notorious for their instability – so how do you make it past those first few years and focus on growing into a successful company? Well, we’ve got a guide for you below to help you through those initial stages.
Create a business plan
A business plan isn’t just important, it’s tied to the success of your company. A business plan provides you with the answers to the “why” and “how” of your business strategy. It also forces you to think about your business in a strategic way that will give you the clarity of purpose you need to be successful.
Start marketing
If you’re a local service business, it’s critical to call in the big guns: hire a local SEO company to help you improve your Google rankings. Not sure how SEO works? Let’s dive into a real-world example. Pretend you’re a Pittsburgh plumbing company. When a customer in Pittsburgh searches for “plumbing company”, Google will show a list of relevant, local results. If your website is search-engine optimized, you have a much better chance of a customer seeing your company.
Besides SEO, it’s also important to set up a social media presence. You might even want to consider social media ad campaigns to target your ideal customer demographic, it’s a great way to build hype and brand awareness.
Connect and network
It’s not what you know, it’s who you know that’s important when it comes to running your business. It’s a good idea to network with other startup professionals who’ve already been down the path you’re briskly walking down. Other professionals can give you advice or even connect you with potential future clients. Consider using meetup.com or looking up local marketing and networking events in your area to get started.

Hire the right people
The hiring process is tiring for everyone. But that doesn’t mean you can just ignore it. Without employees, your company can’t function. So, make sure you spend time vetting potential candidates and consider using a professional recruiter to filter out bad matches. At the very least, you should leverage the convenience of automated applicant tracking software (ATS) to keep applicants on file and organized.
Consider your office space
The modern workspace is undergoing rapid changes. Thanks to the internet, it’s easier than ever to assemble a remote workforce or simply use coworking space like WeWork as a short term office space. Whatever the case may be, you can save a ton of money by avoiding leasing a traditional office. Unless the structure or needs of your business require the use of an office, it’s wise to consider the alternatives if you want to see a major impact on your bottom line.
Cash is king
Building your business empire isn’t going to be cheap. And the worst part? It’s likely going to be several months until you see revenue. If you’re worried about money before launching your business, make sure you get that ironed out. Ideally, you’ll have savings to carry you through the first few months in addition to investor capital. At the very least, make sure you have cash resources to fall back on if things are a little rocky at first.
Stay positive
It’s incredibly easy to get discouraged in the business world. Maybe a top expert in the industry gave your service or product a poor review, maybe your top employee quit, or perhaps it was just a slow quarter. Whatever the reason, the result is the same: sadness, helplessness, and feelings of inadequacy. Although failures are to be expected, you’re going to need to figure out ways to ride out those periods of darkness. Whether that means going to therapy, leaning on your support system, or practicing a healthy work-life balance – it’s important to find ways to reach a positive mental space.
Takeaways
Running a new business is very hard. But with careful planning and positivity, your startup can go from struggling to successful.
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January 21, 2020
How to Spot the Right Leader for the Job
Executive recruiting isn’t like your typical recruiting efforts. You’re on the hunt for leaders that can fill top-level roles that are responsible for shaping the company and leading it forward. That’s why when it comes to recruiting your next Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operations Officer (COO), Chief Technical Officer (CTO), etc., you need to make sure that you are hiring the right person.
Of course it can be difficult enough to find the right candidates for a standard position, let alone for an executive one. That’s why a number of companies rely on the expertise of professional executive recruiting firms to get the job done. You can see the difference a capable executive recruiter gets from their recruiting efforts vs. the standard stuff you might be doing now.

Passive Recruiting
It’s never been harder than ever to find top talent, and most of them are already nicely settled into their own positions. But does that mean that you shouldn’t try recruiting them? Not at all. Passive candidates can be a great way to find the top talent that you’re looking for.
A passive candidate is someone who isn’t actively looking for a new job. You might initially be wondering why you would try to recruit them, then, but there are definitely advantages. First of all, you won’t likely be competing with any other company to hire them, and secondly, people are more open to opportunity than you may realize.
When approaching passive candidates, do so on social media sites like LinkedIn or contact them via their private email address. It would be even better if you could get in touch with them via a mutual acquaintance. Discretion is important for most candidates, especially when you are making the first move.
You also don’t want to come on too strong. Focus on building a relationship with the candidate first and take a highly personalized approach. Take the time to discover what their motivations are and get them talking about their role and their accomplishments. You’ll find that with this tactic you’ll discover what it takes to get them interested in what you have to offer.
Take Your Time
When executive recruiting you might be tempted to hire the first good candidate that you see, but it’s important to slow the process down. You want to get the best person for the job, and they aren’t going to come around right off the bat.
In fact, expect it to take months to find the right candidate that you’re looking for. It’s all about networking, building relationships, and coming up with the perfect offer that they won’t be able to resist. Be willing to go the extra mile by listening carefully to their wants and needs and trying to accommodate them.
Remember, hiring a new executive is one of the most important things you’ll do, and you want to get it right the first time around. Not feeling patient? Then look at hiring an executive headhunter to get the job done for you. With their extensive network and knowledge, they’ll be able to find you the perfect candidate before you know it.
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The Hallmarks of a Top-Notch Professional Shredder
It’s always been important for businesses to keep sensitive information private, especially out of the hands of rivals. Corporate espionage has a long history, as obtaining trade secrets has been used to undermine competitors or even for blackmail.
With the news blaring headlines about the latest cyber security breach, the need for businesses to stay guarded has only been made more apparent. It’s important to understand what separates the best pro shredders from the rest, because when keeping your private documents safe you don’t want to cut any corners.

Here are the signs that the pro shredder you’re dealing with is an industry leader.
NAID-Certified
The National Association for Information Destruction (NAID) is the industry’s only watchdog that assures compliance with industry standards and best practices with both scheduled and unannounced random audits. Thousands of government and private sector contracts require that a company fulfill the standards of the NAID-AAA Certified program.
There are only about 1,000 service providers which have the AAA designation. If you’re a company looking to fulfill your regulatory due diligence obligations, you can do no better than finding a professional shredder that has been AAA NAID certified.
Mobile Paper and Electronic Shredding
Companies may have boatloads of paper to shred, and transporting such heavy and sensitive documents could pose challenging logistical problems, in addition to just being a pain in the neck. Today’s top shredders will come right to you.
For small volumes of paper shredding, they can destroy the papers right in front of your premises in their mobile shredding truck. For larger volumes, the shredding company will still come right to your office, but they’ll bring the paper to their facility for secure destruction. Either way, you never have to worry about how to carry so much heavy, sensitive material, or even lift a finger.
Beyond paper, businesses store lots of information on electronic devices. If these devices are no longer in use, all they’re doing is posing a potential liability — have them shredded. Common devices for destruction include old computers, laptops, hard drives, flash drives and USBs, but also photocopier memory cards. Any electronic storing information can’t just be thrown into the garbage — they need to have their microchips destroyed so the data on them cannot possibly be retrieved.
Speciality Destruction
Some industries have their own unique vulnerabilities. Dentists can suffer a data breach if dental records or X-rays get into the wrong hands. Pharmaceutical packaging poses problems for health industry workers, and things like ID or security passes need to be safely eliminated.
The best companies have a program in place to destroy any sensitive information, no matter what form it takes. Finally, they should be sure to reuse as much recyclable material as possible and strive to help companies improve their carbon footprint.
Knowing you need to hire professional shredders to destroy sensitive material is half the battle; recognizing the hallmarks of a true industry leader in information destruction is the other. Hire the real shredding experts today, and your company can get valuable peace of mind.
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Can A.I. Learn the Language faster than a Kid?
Even a few years ago, it seemed impossible for the A.I. to achieve tasks that require a fair bit of creativity. Writers and painters don’t create things that mimic reality; they create something new. Surely a machine wouldn’t be able to do that? Wrong. A.I. is already capable of creating paintings that are indistinguishable from the ones created by humans. It doesn’t just replicate the world it knows about; the paintings are far from showing scenes that you could find anywhere.
Okay, but could an A.I. learn the language faster than a child? The short answer is: not yet. To properly understand the meaning behind concepts, humans learn by observing others. Without the context, it would be impossible for us to understand the language with precision. The language that we use in our homes isn’t similar to the formal written language. When we are talking with our friends, we often use partial sentences, jargon, or sarcasm. The real challenge is to teach robots how to learn from this fairly unstructured construct.
Sure, there are robots in automated chats that seem human-like, but could a robot use this mess-of-a-language that we use and pass for a human? So far, the answer is no, but the field of natural language processing became extremely popular in recent years. It is impossible to tell whether in the upcoming years we’ll witness a major breakthrough, though it doesn’t seem unlikely. When it comes to A.I., most of our predictions were wrong, and the technology is advancing much faster than we’ve anticipated. Perhaps we will encounter robots that could learn faster than children soon.

If you want to learn more about the recent developments of A.I., check out this infographic, provided by Inside Tech.
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January 20, 2020
5 Reasons to assure why Coworking Zones are a Good Investment Option
Coworking is now entrenched in today’s work culture and its influences can be felt in every arena. It has been configuring the way people work. Nowadays a steep rise has been witnessed in the number of entrepreneurs, freelancers, and start-ups. In the early stages of a business, managing finances is one of the key requirements of any organization thus investing in having a traditional workspace for the employees is not a wise decision. Moreover, the work environment of a traditional workplace becomes stagnant at one point hence it becomes a task to sustain the enthusiasm to grow.

It’s no big secret now that coworking zones have had their positive impact among organizations and people have actually shown their interest in having an office space in a shared workstation rather than in traditional ones. Such workspaces have a number of benefits as they are designed keeping in mind the thought process of the employees while working. Coworking zones are specialized at ensuring productivity. It can be said for sure that the demand for such workstations is going to grow over the years.
This area has managed to catch eyeballs of many investors as well. When analyzed the stats of the past one year or so a degradation in the valuation of the real estate was been witnessed with a high percentile. Today co-working zones have emerged as a great investment option even better than gold and real estate, which keeps the cash coming in. Seeing the current situation of the market it is clear that it is only the coworking zone that can help investors realize the ROI goals of their properties.
A few things that should be taken into account before investing in coworking zones:-
Flexibility: The best thing about shared workstations is that such places come in all shapes and sizes which allows an organization to have a unique office space that reflects their beliefs and perspectives. Coworking spaces also allow your brand name to gain recognition among your peers that also yields trust among clients as well. Apart from all that you should also do research before opting for such office space like the costing, training, the amount of funding that it demands and finally whether it aligns with the ideals of your business or not.Finances: Once you have made the decision of what kind of office space you think would be fit for your employees, the next step is yet another critical one. You need to decide the budget of finances that you can invest in having an office space. When you go through the financial model of your coworking space don’t forget to have a clear vision of your business model as it involves the kind of organization that you will be targetting or the kind of facilities that you will be providing them. Space: It is yet another key parameter on which organizations put great emphasis. Some of the key properties of a coworking space include community, collaborations, openness, and accessibility. One of the major aspects behind the success of such shared workspaces is their mission to revolutionize the work experience of industries and that majorly depends on the kind of space that is provided to them as environment plays a massive role in initiating productivity. Partnership: being on good terms with the owner of the coworking space is essential as such partnerships demand a great amount of expectation, understanding, responsibility and challenging complications but it is among the major requirements to have a healthy dynamic with the management team as it helps you in having an overall success.
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