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How to Gain Control of Your Business

Posted By Administration, Thursday, October 18, 2018

No-one ever said running a business was easy. It takes a considerable amount of blood, sweat and tears to increase your annual revenue, grow productivity, boost employee satisfaction, and hold on to your customers.

There will also be times when you will miss targets, disappoint customers, or make mistakes that can affect your company’s success. Rather than giving into stress and worry, you simply need to focus on turning your company around. To do so, learn how to gain control of your business.

Learn More About Your Industry Rivals

If you want to enjoy a better position in a marketplace, you can take control of your success by learning as much as possible about your competitors. Identify their strengths and struggles, so you will can spot gaps in their services, so you can steal their customers and become an industry leader. Also, never jump to conclusions and only tweak your business based on facts alone.

Get Involved in the HR Process

It is essential for a business owner to take an active role in the hiring, managing and retainment of employees. Not only must you hire the right candidate for the company culture, but you must ensure your staff receive the right training, rewards and feedback, which can improve employee engagement. To do so, invest in a single-solution HR and payroll software from peoplexcd.com.

Understand Your Finances

Never leave your company finances in an accountant’s seemingly capable hands. As a business owner, you have a responsibility to your company and team to know exactly what is happening with your finances.

This means regularly reviewing your expenditure, revenue and profit margin, and finding ways to lower your overheads. It might even be helpful to consolidate business loans to reduce your monthly outgoings. Doing so will help you create a more secure and stable business.

Take Care of Yourself Every Day

Sleep deprivation, a poor diet, and overworking yourself can all lead to a low mood, irritability, and a lack of passion for a business and industry. It is crucial to take care of yourself, so you can take better care and control of a business.

So, try to eat a nutritious diet, enjoy daily exercise and experience at least seven hours of sleep every night. You also should regularly step away from your workload to enjoy some quality time alone or with your loved ones. As a result, you can lift your mood, improve your concentration and develop a thriving business.

Master the Art of Delegation

If your to-do list is quickly building up, it might be time to start delegating the tasks to other members of staff, so it can take some of the pressure off your shoulders each day. Freeing up your schedule could also present you with more time to focus on other aspects of the business. Plus, providing your management or employees with increased responsibility could boost employee morale, so it could help you to retain your talented team members.

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4 Factors To Running Your Legal Business Smoothly

Posted By Administration, Wednesday, October 17, 2018

Sometimes, even if the same drive and values bond you, your legal business team will need additional support to run smoothly. There are many ways to increase and organize team effectiveness; some which require a financial investment, and some which need nothing but a little extra effort from everyone involved.

Even if you consider your legal business to be running smoothly right now, it’s possible there are ways you could be saving time, increasing employee satisfaction (after all, happy teams are 20% more productive than unhappy ones) and producing higher quality work for your clients.

Here are just four ways to run your legal business more smoothly:

1.    Hire or train an employee for a Human Resources role

A strong, well-functioning business relies upon its staff. Team dynamics and individual differences are very powerful, and an organizational structure which is unique to its employees can make all the difference.

As such, you should ensure you have a Human Resources (HR) representative within your team. If you’re a small legal firm, you may not need an entire HR department; most professionals agree that one HR role per 100 employees will suffice. You also needn’t hire someone new into the business to perform this role. HR managers usually have strong people skills, good tact, show no discrimination and are good at managing conflict; indeed, many shared characteristics with good lawyers! Is there anyone within your firm who may be interested in shifting their focus towards HR?

2.    Invest in case management software

As a legal business leader, you’ll have many projects and workflows to manage; likely all at different stages of completion, requiring in-depth knowledge and understanding and background detail.

For a one-stop-shop solution to streamlining your case management, you should look for software to improve your current legal case management system. Hosting everything in the legal process (from online quoting tools to invoicing) in one centralized location is a far more innovative and future-facing way of handling your business. Could your antiquated approach to legal case management be slowing you down? Why wait to increase your efficacy, improve your compliance and make running your legal firm a more smooth process?

3.    Encourage the sharing of goals

As a business, it’s important all employees are attuned to the Key Performance Indicators and corporate targets. It can also be truly motivating to have an understanding of your colleagues’ individual goals within their careers.

A great manager will not only be aware of their employees’ ambitions but will support them in making these goals a reality. Do they wish to focus on a certain aspect of the law? Or have ambitions to be involved in a particular case? Be a good listener and communicator; research suggests that transparency is beneficial for the whole corporate team.

4.    Use collective project planning tools

Project planning tools can be invaluable in the sharing of and working towards achieving common goals.

There’s no shortage of software options, free and paid, online, such as Trello, Asana, Wrike and Basecamp, each with their own way of allowing you to plan workflow; assigning roles and tasks, setting deadlines, allowing project-specific communication between team players.

Giving each employee responsibility for a role will increase confidence, efficacy and strengthen team dynamics.

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Tips For Better Workflow At Your Business

Posted By Administration, Wednesday, October 17, 2018

Workflow is extremely important if you want your business to run seamlessly and get more done. Having processes in place is critical for tasks not only being completed on time, but done the right way the first time around.

Review the following tips to help you achieve better workflow at your business so you can waste less time and accomplish more in the office. Get everyone onboard and trained in these particular areas, so there’s no confusion about what individuals are supposed to be doing. You’ll enjoy how much more productive everyone is and the fact that you’re able to more quickly meet your objectives.

Use Collaboration Tools

Create better workflow at your business by using technology and collaboration tools to complete your tasks.

Benefits of collaborative tools:

-         It creates greater flexibility

-         It allows for integration of the latest tech for your business

-         It can engage employees who work remotely

For example, CircuitStudio powered by Altium is the perfect solution for engineers who need to streamline workflow and want an easy-to-use interface. There are also many different project management tools out there you can use to keep your team on track. The key is to bring what you’re doing online so you can work more efficiently and always pick up where you left off.

Assign Job Responsibilities & Teams

You’ll be able to implement better workflow at your company by proactively assigning and communicating job responsibilities to individuals and forming teams. This way, each person will have a set of duties they’re in charge of attending to, and there won’t be overlap in what employees are working on. Split into teams and divide up the work, so all that needs to get done is being properly addressed and taken care of, without having too many people addressing the same assignment.

Use A Shared Calendar

Shared calendars are helpful because you can see what each person is up to and when they’re out of the office or busy. Use the calendar as a way for each person to take note of who is assigned to what tasks and when individuals have completed their assignments. You’ll also all be able to have a heads up about when someone is behind on a job responsibility or when they’ll be away from the office for a period of time.

Allow Time to Discuss Progress

Short update meetings here and there may not be enough to get the job done right. What you may want to do is allow for time where you and your team members can work, brainstorm and address any questions without disruptions. You can all get on the same page about your progress so far and work on any tasks that are holding up the project. The workflow will improve when you address any kinks and then can return to your individual assignments.

Conclusion

You can easily run a smoother business and experience fewer complications when you have a better workflow. These ideas will help you make sure you reach this goal and are that you achieve more each day. Track your progress so you can see for yourself the positive impact these changes have on your business. 

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Four Tools to Help Your Business Excel

Posted By Administration, Thursday, October 4, 2018

Every business owner is keen for their company accounts to surpass previous levels of success, and there is nothing more exciting than witnessing your personal business flourish financially. But, of course, there is a complex formula to business success, and it is something that is unique to every individual business. Happily, there are some simple organization strategies and practical solutions you can put in place to help your business excel. Read through some of our tips below to see where you can help your business hit new strengths.

1. Keep on Top of Digital Marketing Trends

Over the past few years, digital marketing has changed dramatically and there are many new marketing techniques that are imperative to a successful business in the current technological climate. Investing in rich multimedia content - such as video - is now an important marketing technique for any business. If your business exists principally online and there is nothing else to film but the inside of your office, then it may be worth investing in a short animation. Artificial Intelligence is one of the biggest trends for marketing in 2018 and, therefore, it should be considered when trying to boost your businesss profits.

2. Streamlining your Services

By synthesizing multiple elements of your business to one service provider, your business will be more organized. There are services such as SellerCloud which can support your business by synchronizing accounts, streamlining your companys catalog and simplifying your inventory. Dependent on size and structure, it may be worth investing in professionals by outsourcing some of the labor, admin and operational elements of your business to help it grow. When you are the CEO of any business, it is useful to calculate how much your time is worth in order to evaluate whether you will actually be saving money and therefore improving your business- by employing others.

3. Interact with your Customers

In the current business climate, if you neglect the opportunity to converse with the people who buy your products - or your potential clients your customer service will be considered shockingly poor. Regularly updating your companys site will be beneficial for its SEO (Search Engine Optimization) and utilizing social media platforms is virtually costless; there is no reason not to use it. However, it is extremely important to be aware of current social media trends, for example, Instagram has become a more valuable channel than Facebook. When using social media, it is essential that you research how your customers use it and which information they perceive to be relevant.

4. Optimize your Inventory Management

By managing your inventory efficiently, your funds will be spent efficiently and giving you the opportunity to improve your ROI (Return on Investment) immediately. There are many ways to improve how you manage your companys inventory, one method which is beneficial for any size of company is to clearly establish your consistent incoming and outgoing payments and to recognize trends to avoid not having enough money to pay for necessary services whilst also utilizing all the funds possible to improve your business.

By utilizing all of these tools, your business will increase its efficiency, marketing strategies and organization which will help your business to excel and increase profit. 

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Changing Paths

Posted By Administration, Friday, September 28, 2018

How Education Can Help You Embark on a Business Career in Later Life

As life goes on, many people will begin to get tired of their jobs and dream about finding something new and exciting. Often, these feeling are dismissed as simply being a mid-life crisis but, truth be told, there is no such thing. If you want to change careers, you will be hard pushed to find a better industry to enter than business. Going into business is the perfect opportunity to combine practical skills and knowledge alongside your favorite hobbies and interests. All you need to know is how to start. The best way to get a leg up in changing your career path is to retrain and get a well-respected business qualification that will help you get your foot in the door as well as equip you with all the skills you will need to be successful.

Training in the industry

Going into business will require you to retrain, and the best way to do this is to get a degree from a reputable business school, such as the one at Touro University Online. Doing a degree online is a relatively new concept but one that is being chosen by more and more people who want to be able to study without having to uproot to a new place or quit their current job. A degree is a comprehensive qualification that will allow you to specialize your studies in a way that employers will look upon favorably. Your degree will also provide you with all the foundational skills you need to impress employers and understand the industry well enough to start your own business one day if that is what you choose to do.

Get the best results

Undertaking a degree is one thing but making sure that you are seizing this opportunity and getting the most out of it possible is what will truly impress employers in the future. Your course will comprise of exams, coursework, and maybe even practical assignments or placements in a company, but no matter what your latest task, you need to be able to do well in it. It is, therefore, worth looking up and following tips for effective studying so that you can find a method that works for you. The key thing to remember above all else is that re-reading your textbooks over and over is never the best way to revise, so get creative!

A winning reading-list

Taking on a degree means you are committing yourself to a lot of reading, but if you want success, you need to read influential books about business that aren’t on your course. Not only will doing this help improve your overall grade, but it will also make you a better business person and prove to future employers that you are a self-motivated individual.

Changing your career path to enter the business world doesn’t need to be scary once you know how to get started. Find a degree course that you can fit around your current life and seize the opportunity to change your life for the better. 

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