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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.

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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.

 

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How to Make the Most of Your Workforce

Posted By Administration, Wednesday, November 6, 2019

Your employees can be your biggest asset or your largest liability. It is proven that happy workers are more productive, but as well as keeping them content in the workplace, you also need to be able to manage what they are doing, create goals for them to achieve, and maintain your workforce with ease. This may all sound very simple, but in reality, there can be challenges that need to be faced to make the most of your workforce so that your business is as profitable as possible.

Keep Them Safe

There are many ways you can help to make sure your employees are glad they work for you, but one very important thing is to ensure your workplace is a safe environment for them to be. All industries and professions have safety and health rules that need to be legally followed. Your staff will be much more relaxed at work if they are not concerned about any dangers and they will be able to concentrate on their work rather than trying to avoid being injured.

Use Human Capital Management (HCM)

You may well be asking what HCM is and how it could help your business. It is software that has automatic features to assist you to manage your human resources. It can be tailored to suit your needs but could include your payroll and employee benefits, staff training, performance, and recruiting among other things. HCM software or human capital management is designed to make the maintenance of your workforce simple for you and your managers, which in turn will help to maximize the effectiveness of all your workers.

Reward Them

It does not have to be anything huge or expensive, but a reward to show that you appreciate what they have achieved will boost morale. It could be something simple such as treating them all to cakes or maybe providing lunch for them all. Your workers like to feel appreciated and a small reward shows that you value them.

Of course, a cash bonus is always welcomed but there are many ways you can reward your employees without handing over extra dollars.

Leave an Open Door

There should always be managers or your door open for employees to approach someone if they have a problem. It could also be that they have spotted an idea that could save you money. Always be prepared to listen to what they have to say and if you cannot deal with the matter immediately, make sure you do not forget. This shows you care about them as people and that they are not just numbers on a payroll. This is a very important part of keeping your workforce happy and productive.

Do Not Alienate Them

Every single job in a business is important, from the cleaners up to the managing director. No one should feel they are above anyone else, as without each worker things could go wrong. You should never make an employee feel they are worthless as you will alienate them, and they will not be a good worker. Show them you are all humans, just with a different job to do, and they will be much happier working in your workplace.

Making the most of your workforce is not always easy, but it is possible, and these few suggestions are meant to help.

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The Best Ways to Improve Your Business’s Online Presence

Posted By Administration, Monday, September 23, 2019

Owning a business can be tough, and if you don’t start off on the right foot, you might find yourself either not making enough profit to keep your business running or being stuck at a stand-still, unable to progress. When you find yourself in either of these situations, they can be difficult to overcome, but there is a very useful tool at your disposal which can greatly benefit your business if you use it correctly, and that’s the internet. Follow these tips to find out how to create a strong online presence and increase your business’s online and overall popularity.

Have a Good Website

When marketing online, the website that you choose will ultimately represent who you are as a business, as it is the first thing that your customers see about you and will form their first impression. Therefore, if your website looks unprofessional, crowded and messy, it will make your customers believe that the services you offer are sub-par. Your website needs to tell potential customers who you are from the second they click on your link. For example, if you own a law firm, your website should read as professional, smart and clean. You don’t need to be amazing with a computer to achieve these results – you can visit justlegalmarketing.com to find the perfect website to represent you as a law firm.

Build Online Relationships

One of the most important aspects to running a successful business is having successful business relationships, and this is equally important online as it is offline. Find a group of businesses or individuals who share the same niche as you, and begin to build relationships with them. This way, you can cross-promote each other, give each other tips on how to improve and be introduced to even more potential business relationships. As well as this, you should join a group of individuals who fit your target audience, so that you can directly see what the demographic is looking for.

Have a Presence on Social Media

In this day and age, social media has a huge say in whether businesses make it or break it.  Many people believe that social media sites are only frequented by a younger audience and, therefore, that their older clientele won’t be affected by the use of social media, but this is very wrong. In fact, 74% of people aged 65 to 69 in the USA are incredibly present both on social media and online in general. Regardless of your target audience, you should have an account for your business on the big three social networking sites, Facebook, Twitter and Instagram, as this gives your customers the ability to share their experiences with your company with their friends and even strangers. With Facebook’s new review system, your customers will effectively do your marketing for you, as a company with multiple 5 star ratings is a company to be trusted.

As most people live their lives online, if your online presence is weak, it stands a good chance that your company will not get the recognition it deserves. Make sure that you improve your business’s online presence by following these simple tips that will ensure that you get a boost in profit and recognition.

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3 Key Tips for Strategic Business Growth

Posted By Administration, Wednesday, September 4, 2019
Updated: Wednesday, October 2, 2019

One of the hardest concepts for many small business owners to internalize is that business growth is a process. It’s not something that happens overnight. Growing a business takes a well thought out strategy and a willingness to make a few mistakes along the way. Even the most successful entrepreneurs admit to stumbling along the way, but realizing that growth was a process, they made a concerted effort to learn from mistakes and mishaps. If you are seeking to grow your business, here are three tips to help you develop a strategic plan for success.

1. Surround Yourself with Talent

If you were to ask any successful businessman or woman what they felt was the biggest contributing factor to their success, you will invariably be told it was a team effort. No one can be expected to know all there is to know within any industry, and so those who reach the pinnacle of success surrounded themselves with the top talent. It could be that they needed someone well-versed in marketing, or it could be they needed someone in prototype and product development. You don’t necessarily need a large team, but the team you create should work as a cohesive whole.

2. Open Yourself to Possibilities

One of the many roadblocks to success is getting stuck in a rut. If progress isn’t being made, perhaps there are alternatives you could explore. Remember, you need capital to invest in a strategic plan for business growth and if the money isn’t coming in, perhaps there are other avenues to explore. For example, consider an online merchant with a storefront. They’ve purchased more storage space than they need and are locked into a plan for a certain length of time. They ‘could’ resell some of that hosting space to share with other companies who find they need to establish a web presence.

Not only will that company make a bit of money to reinvest in their own business, but they will not be wasting space they can’t use. Web hosts like Krystal in the UK offer this kind of hosting plan which has helped many businesses literally pay for the space they are using. If you’ve bought too big a package, why not resell some of it? That’s part of the growth process – learning how to avoid waste and even capitalise on excess!

3. Focus on Customers

So many companies fail to grow because they get so caught up in their own ideas and their own products that they forget the customer in the process. It is imperative to cater to the customer because they are the ones who keep you in business. You might have developed what you think is the best thing since the invention of the wheel, but will you have an audience? The process of business growth takes an in-depth market analysis, so be prepared to listen to what your market is saying.

Your key takeaway in all this is adaptability. Any business seeking to grow must be willing to adapt to the market and their own, limited budget, as was the case with the hosting re-seller above. If you can’t get the financing you need, there are ways you probably hadn’t thought of to raise the money necessary for investing in your growth strategy. With key people at your side and a willingness to adapt as needed, there is no reason why you can’t grow your business successfully over time.

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