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Sunday, February 5, 2017

Is Your Business Ready For The "Blue Chip Company" Tag?


Many entrepreneur will say Yes, that their business is more than fit to continue to bear the tag "Startup" rather that the business should now be tag a "Blue Chip Company." But is your business really out of the Startup stage or is tagging it as a Blue Chimp Company too early? This is a question that after you will be able to answer only after your business can tick good to the factors below.




Remember, just because your business have been running for years does not mean it is no longer a startup business.

So here are the factors that will help you to decide if really your business is ready for the Blue Chip Company tag.

Factor 1: Payment of Utility Bills.
Do you have to borrow before you can pay your business utilities bills, including its taxes? If you do not have to borrow, does struggle to pay it seeing that after it has been paid, there will be very little profit left? If yes, then know that you are still running a Startup business.
So tagging it as a Blue Chip Company is a sure way to risk the risk of the business crashing because many banks or financial institute will not be willing to give loan to a business with the Blue Chip Company tag that have problem paying their own utility bills.


Factor 2: Your Employees Count.
It is true that you might be running a business that does not need very plenty employees, but their is virtually not business with the Blue Chip Company tag without them having at least 30 employees. Why? Because Employees are the heartbeats of a business.
Also you should know that it is only a startup business that do not believe or does not see the importance of the principle of Division of Labor.
So if your business has not fully embrace the principle of Division of Labor, then know that your business is not ready for the Blue Chip Company tag.

Factor 3: Employees Payment
If your business have embrace the principle of Division of Labor but yet lack adequate finance to pay employees and even yourself, then know that the Startup tag is the appropriate one for your business and not the Blue Chip Company tag.

Factor 4: Survival
It is true that if you need more sales you need to advertise. But advertisement should not be the main source of driving sales for your business, because for your business to be given the Blue Chip Company tag, it needs to be able to drive reasonable sales even without advertisement.
Thus if your business is not self attractive of potential customers, then it is still a Startup business.


So the question comes again, 'is your business ready for the Blue Chip Company tag?' If it default in any of the factor I have outline above, then your business is not yet ready.
Also remember that ust because your business have been running for years does not mean it is no longer a startup business.


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