Cart   |   Print Page   |   Sign In   |   Join Today!
Articles from our Partners
Blog Home All Blogs
Search all posts for:   

 

Top tags: Startups 

Communication in Business: Why It's Crucial

Posted By Administration, Monday, December 2, 2019

When it comes to good business, communication is a vital factor that can make or break your company depending on how good it is. Whether this communication is between a boss and his employees, between employees in general or between your business and another, it is a crucial factor that must be taken seriously. If you’re unsure as to why there is a huge emphasis on communication in modern businesses, read on to find out the top three reasons why communication is so important.

Keep Organized

When it comes to managing multiple employees and working in a team with your workers and other managers, communication really is the key. Without effective communication, it can be hard for a large business, and even small ones, to know, for example, who is doing what tasks and if the sales targets have been met and if not, why not? Without effective communication, it is very easy for a business to easily crumble due to lack of organization, as essential tasks may not be performed and immediate action that needs taking may be forgotten.

Build Good Relationships

It is extremely difficult, if not impossible, to maintain a good relationship without communication, whether it’s with your employees, other businesses or your customers. As your customers are the reason that your business is still running, it’s vitally important that you keep up communication with them to gain their feedback. If you ignore what your customers are telling you they want or don’t ask them with emails and surveys, you won’t be able to make the product or service that they desire or tweak your existing products to fit their demands, ultimately losing customers who have stayed loyal to you. It is also important that, as a boss, you communicate with your employees and find out if they are happy with your working conditions, after all, happy workers means more productive workers.

Reinforces Equality

Equality is a factor that you must have in the workplace in order to have a fair and well-run business. A great way to ensure that you have this much-needed equality is by ensuring that you have good communication. If you ensure that everyone in your company is given a voice by being able to propose their opinions and ideas to you, you are not denying anyone the right of free speech and enabling everyone to be treated equally through accepting and respecting their opinions. Equality is needed within a workplace to ensure that no employee feels isolated in any way or at any point during their employment in your company, and good communication between the boss and his employees is a fantastic way to make sure that no one feels left behind.

If you feel that, as a boss, communication isn’t your strong point, there are many ways that you can work on this. From making small changes like asking your employees for feedback to taking communication training courses from Corporate Coach Group, there are many ways in which you can improve the levels of communication in your business, and consequently improve the running and achievements of your company.

Is poor communication an issue in your business? Tell us how you resolved it.

This post has not been tagged.

Permalink
 

Scaling Your Business: a Guide

Posted By Administration, Friday, November 22, 2019

Reaching the point in your career where you are ready to start a business is a big one, but even that won’t compare to the moment you realize your business has hit a wall and the only way forward is to expand. Expansion, however, can easily go wrong. You never want to expand without a solid plan in place or before ensuring your business has the tools and systems in place to facilitate it.

Expansion can help your business grow in ways you’ve always dreamed of, but you must follow this guide so that you are ready for it:

 

Evaluate and Plan For Expansion

Scaling a business can feel natural, but no matter how natural the progression is due diligence is a must. You need to know for a fact that your business can handle the increase in sales. This applies regardless of whether you open a store, or just expand your shipping options for online sales. If you are going to grow, you need to know that you are:

  •  Ready for growth
  • Able to increase sales
  • Able to handle the accounting of increased sales
  • Use the new data to your advantage

Doing this will often mean investing in more advanced systems. You need all your systems from your accounting to payroll, to sales, to inventory management and beyond to be able to work together. Automation is going to be your friend, but without the right infrastructure, you won’t be able to benefit from automating tasks and could run the risk of falling behind.

 

Invest in the Necessary Infrastructure

Chances are you won’t be able to invest in the infrastructure until you have the money to do so. In fact, it is expected. Knowing how to get the money is going to help you ensure that you budget correctly for both your digital and physical expansion. We have already discussed how you will need to expand your company’s internal infrastructure to allow for automation; now we will discuss what infrastructure you will need to know what your website and digital presence needs, and what your stores need.

 

Digital Expansion

There are many ways you can expand digitally, from creating a foreign language version of your site to adding a new location page. Consult an SEO specialist to ensure your expansion efforts see results.

 

Physical Expansion

Acquiring a new store means you need to research where your demographic lives and what retail opportunities exist.

 

Acquire the Loan

Small Business Association loans are notoriously difficult to achieve. Having a solid and well-researched plan can help, of course, but regardless of how good your idea is you will need to be prepared to wait months, even a year, for your application to go through.

If there is an opportunity that you need to take advantage of right now, and you haven’t been approved for a loan through the SBA, then there are loan options for businesses on Biz2credit.com.

Banks in this matter won’t likely be a big help to you unless this is the second business you are opening after successfully selling on your previous company for a huge lump sum. That is because they will not provide a loan without a good business credit history or collateral.

 

Regroup and Solidify

Once you have the plans and the loans, it is time to put your plan into motion. Don’t try to expand too quickly, however, and remember to regroup and solidify your new business. You need to ensure everything runs smoothly before expanding again, no matter how successful that initial expansion was. 

This post has not been tagged.

Permalink
 

5 Tips for Overseeing Periods of Growth

Posted By Administration, Thursday, November 21, 2019

There comes a point in every business when it is time to grow. Growth is critical for driving future success, for staying ahead of the competition and for keeping things fresh within the company. Things can become stagnant when nothing changes, even if you are performing well, which is why it is important for business owners to recognize these periods so that they can find ways to take the company forward. There are many different growth strategies — and it can depend on your particular business — but it is important to understand that this can be a challenging time for all. Here are a few tips for managing periods of growth.

 

1. Make Communication a Priority

When changes are made to the business, it can be a confusing and challenging period for everyone involved. This is why you need to make communication a priority during periods of change so that everyone is on the same page. You should also notify your team about any major changes and help them feel valued and part of the process.

 

2. Expect Teething Problems

More often than not, growing a business will result in some teething problems, especially if you have been working in one particular way for a long time. Anticipate what problems you may encounter along the way and think about how you can manage these issues. Additionally, give your team time to adjust and get used to any changes.

 

3. Get Financial Support

Growth usually requires some form of spending so you may need to get financial support. This may involve taking steps to improve your credit rating so that you can get approved for loans. Credit repair software from specialists like DisputeBee are helpful as they can remove any negative credit items and simplify the overall process.

 

4. Take Calculated Risks

There will always be some risk attached to growing your business and making changes; however, this should always be a calculated risk that has been carefully researched and planned. Calculated risks are important for growth and development and even the world’s best entrepreneurs will have made the occasional mistake. These kinds of risks should pay off and help the growth strategy of the business to be a success. If it doesn’t, then perhaps you need to use this as a learning experience and move on.

 

5. Stay Focused on Principles & Strengths

One of the biggest mistakes you can make when changing the business is to move away from what brought you success in the first place. You should stay focused on your key business principles and strengths so that you can build on these and retain your existing customer base.

 

If you keep these tips in mind when undergoing business growth, then it should help keep the company running smoothly and allow you to benefit from positive changes. All businesses need to take calculated risks and grow from time to time to continue competing and keep things fresh, but this can be a challenging and daunting process which is why you need to be careful and strategic.

This post has not been tagged.

Permalink
 

Sound Business Management in the Digital Age: A Guide

Posted By Administration, Thursday, November 14, 2019

There is often no end to the din of noise shouted across the swathes of the internet, demanding that you know your business’ place within an increasingly complex business world. With global market forces now dominating smaller, local businesses, and the likes of social media, online retailing and other digital technology changing the nature and essence of business, it can feel incredibly difficult to keep up with the state of play. Well, in an effort to engender some calm in this chaos, this article maps out some of the key areas in which you can manage your business through the changes brought about by digital technology.

Review Software Packages

As a business manager, you might only be aware of the software that your company uses on a name-only basis. That’s because instead of interacting daily with this software, you’ll be managing the individuals that do.

Nonetheless, it’s now your responsibility to conduct a thorough review of your company’s use of software – in order to spot inefficiencies and hear from your staff what they might be struggling with. Meanwhile, keep an eye out for software upgrades and competitor packages, like improving inventory management with smart software that helps you keep abreast of all your stock on a centralized platform.

Adjusting to Consumers

A host of statistics and data insights have proven that consumers are shifting their spending habits online – for ease, convenience, and choice. This means that your business is no longer just competing in terms of its physical store or service provision office – it’s also required to conquer the virtual realm.

The upshot of this is that your business needs to find strategies to make the most of the online world. This includes channeling business onto your sales pages and smart online advertising to help you establish a foothold in e-commerce or digital service provision.

Digital Marketing

Your business needs to attract new customers in order to grow, and the best way to do that is to embark on a digital marketing campaign. Marketing in the digital age comes with its complications and difficulties, but in general, your hiring of expert personnel will help you make the most of social media, programmatic targeted adverts, and other methods by which you can increase your exposure.

The flip-side of this and something to reconsider in the digital age is your brand and company design ethos. You may wish to revamp this in order to make your graphics and marketing material more apt for the online space – with the help of graphic designers and brand overseers.

Networking and Conferences

As a manager, it’d be unfair to expect you to balance your time overseeing your staff while gaining intimate knowledge of the digital world and its products. But you’ll be able to take a short-cut to enhanced knowledge and digital application simple by networking and attending tech conferences.

Make time in your schedule for conference attendance in order to mix with other business elites who’ll be able to share with you the digital insights you need to implement into your business in order to maintain your edge in the digital age.

As a manager, it’s your responsibility to prepare your business for the digital age – and these four tips help you do just that.

This post has not been tagged.

Permalink
 

A Quick Look at the Leading Challenges in Business Project Management

Posted By Administration, Wednesday, November 13, 2019

Managing a business in today’s corporate environment can be an overwhelming prospect because everything seems to be moving at the speed of light. Not only do project managers need to contend with internal issues but external factors can have an impact as well. With so much going on around you it can present major challenges you must meet head-on and overcome. Here is a quick overview of the leading challenges today’s business project managers face.

Poorly Defined Goals

Often the most challenging obstacle to overcome begins within the organization of a company. Upper levels of management fail to clearly define goals in terms of timeframe and budget and this puts projects at risk from the very beginning. It’s almost always impossible for project managers to meet or exceed goals if those goals haven’t been outlined from the very beginning. The first challenge today’s businesses must meet is getting projects off to a good start by clearly defining goals both in short and long-term increments.

Inadequate Line of Communications

In the corporate world, an open channel of communication is vital to the success, not only of projects but the company itself. From the very beginning, it is imperative to establish how your company will communicate internally and externally as well. This is where project management software can be a real boon. With the right platform, it is possible to keep everyone on the same page at all times. Project managers can set access levels within the organization and can even give clients access to your workflow as it progresses. Perhaps Cloud-based project management software, Software as a Service (SaaS) would best meet this need. Each team member and client can see, in real-time, where a project stands. Questions and concerns can be addressed immediately. This, in effect, keeps work flowing smoothly without going back to correct issues left unnoticed.

Risk Assessment and Management

Another key area that often suffers is risk assessment. An effective project manager goes into a job knowing there will be risks involved but without clearly defining them from the onset, a project can suffer serious losses. Can you define specific risks within a current project you are working on? Perhaps that risk would be meeting goals timely due to notoriously slow materials suppliers. Risks can come in any form, internally or externally, and so it is imperative to define and outline those risks so that you are better prepared to handle them should they arise.

It is possible, and probable, that you are working on a number of projects simultaneously and why it is so important to understand the leading challenges to effective business project management. Once you understand these key challenges, it is possible not only to overcome them but to avoid issues altogether. Why not let technology come to the rescue? Project management software can help you meet these challenges head-on so that they never pose a problem to any project you are tasked with bringing to completion. Now, that’s a project manager’s dream come true.

 

This post has not been tagged.

Permalink
 
Page 1 of 22
1  |  2  |  3  |  4  |  5  |  6  >   >>   >| 
Community Search
Sign In


Calendar

11/4/2019 » 12/30/2019
ABPMP Committee Submissions

1/21/2020 » 1/24/2020
OPEX Week: Business Transformation World Summit 2020

3/23/2020 » 3/26/2020
24th Annual Shared Services & Outsourcing Week

careersrenew
joinwebsite how to
sponsorship