Category Archives: Business Strategy

Business Strategy, FAQ, Finance, Industrial

Renting vs Buying Equipment

January 4, 2013 myorbitx

There are always going to be times when, no matter how carefully an excavation company plans out a project, there simply isn’t enough equipment on hand to handle the requirements of the project without running out of time. The choices at this point are clear – rent the machines you need or buy them. It is however, not easy to make these types of decisions, thanks to several factors that you will need to consider, and uncertainty about the business conditions you will face in the future.

Equipment Rental Pricing: Its no secret that rental companies make a killing with the equipment they rent out. Most companies will rent on a daily or weekly basis, which is good for them but can be bad for you. Depending on what area you work in, the price can be very high or just right. Continue reading →

5 Questions, Business Strategy, IT Services, MyOrbit Blogs

Managing IT Projects Offshore

December 30, 2012 myorbitx

Many organisations have moved their Information Technology (IT)/software development offshore to reduce costs and increase competitiveness because of more working hours due to time zone differences. Work is sent to places such as India, China and Russia. The cost savings from doing IT projects in these countries is considerable but the monetary saving is only a small part of the equation. Running projects offshore is very different to running them at home turf. Having seen many projects over the past few years, it has become clear that similar problems/issues are arising time and time again. Understanding these before you start any kind of offshoring project will help you get better results from your plan. These are six of the key areas to consider and where most of the issues lie when offshore outsourcing. Continue reading →

5 Questions, Business Development, Business Strategy, Contracts & Legal, FAQ, Jobs & Careers, MyOrbit Blogs, Sales & Marketing, Start-ups

Should You Start Your Own Business?

September 25, 2012 MyOrbit-Team

One of the most commonly spoken/unspoken questions from people is (what if) I start my own business? Starting and running a business is tough and will need a lot of time and energy. So the answer is never the same for two people. It depends on what your goals are. Are you unsatisfied with your current job? Or do you feel there is a lot more you can do if you could decide the direction of your efforts? While it is more than possible for you to find, apply for, and be awarded a new job, did you know that is not your only option? Have you ever thought about starting your own business? If this is a thought that has yet to cross your mind, you may want give starting your own business some serious consideration.

If you are serious about starting your own business or at least learning if running your own business is something that you are capable of doing, please continue reading. A few important points to be considered by those who are interested in leaving the traditional workplace to start a business are as follows: Continue reading →

Business Strategy, Start-ups, Venture Capital

Angel Investors to the Rescue

August 20, 2012 Priya Rajpoot

In the US alone, the average internal rate of return on investment funding from angel funding is 29%, assuming diversification and time frames of five to seven years.

Continue reading →

Business Development, Business Strategy, FAQ, Sales & Marketing, Start-ups

5 Keys to a Successful Business

June 1, 2012 Andileep Kowsar

Business owners are some of the most optimistic, and often the craziest people in the world. No-one starts a business believing that it will fail. We are all absolutely convinced that our idea is a great one, that we will be successful (where others have failed) and that this business will change our lives for the better. If we did not feel that way, we would never take the risk to invest our own money, or borrow from others to start our business. The reality is however, that, according to the SBA, most businesses eventually fail and more that 50% do not survive beyond the first 3 years. Even if you manage to get that far, things can still go horribly wrong, as many seasoned business owners found out during the recession which hit us during 2009 to 2012.

So, does this mean that you should not start a business at all? Absolutely not. I believe that your business can be an outstanding success, if you approach it in the right way, avoid repeating previous mistakes and impose discipline on yourself as the owner. Here are some of my suggestions on how you can make sure that your business succeeds: