I often relate this process to riding a roller coaster for the first time. You are waiting in line, anxious, nervous and curious all at the same time. It is finally your turn, and you hop in the seat, buckle up and at this point you are fully committed. You have no option but to go for it.
There is that moment when you are still climbing of both trust and release. At the top of the hill, there is a 2 second pause of complete silence where you almost lose your breath completely. At this point, you must trust you will be brought back home safely. You scream and laugh through the rest of the ride and the coaster starts to slow down and eventually stop. You unbuckle yourself, and walk off the ride with a sense of satisfaction and exhilaration.
That wasn’t as scary as you thought it would be.
Reaching a turning point in your business is a process. It is never just one thing, but a series of cyclical events when you realize everything shifts and changes. I discovered the following 5 steps
What do you need to do first when you open your business? Typical responses include open a business bank account, create a website, get business cards, design a logo and start networking.
Yup, you need to put all those pieces in place and none of it will make a difference if you don’t answer the following three questions first.
1. What do you sell? This includes how it’s priced and packaged.
What I see happening again and again is a new entrepreneur gets up the nerve to start networking and talking to people. The conversation goes great. The problem is that they have nothing to offer beyond the conversation. You must have a clear understanding of what product you sell, how someone can pay you for it, and how much it costs in order for the conversation to be productive, and for the person you are speaking with to either get the help they need or help you make connections.
2. Who do you want to work with and, this is super important, who don’t you want to work with?
Some of the largest corporations in the world were once housed in small garage apartments. Things change and as companies earn more revenue, invest in new equipment and other assets, they also have to radically alter their plans. If you have a small start-up that has recently seen unprecedented growth, it is important to step back from your operations for a little reflection and some much-needed maintenance.
As earnings increase, you may be tempted to invest in a ton of new tools and resources for enhancing the capabilities and overall efficiency of your company. While there are definite benefits in better-equipping yourself, you have to prepare for the possibilities that your new-found increase in profits may not be as long-running as you’d hoped. This makes it important for newly successful companies to have aggressive savings plans in place that effectively protect them against the unexpected.
Aligning yourself with a reputable, commercial financial planner is a great way to determine which investments are guaranteed to provide the best returns. This professional can make sure that you are on par with your tax payments as well and that
How do you know your business is failing? Here are some tips to guide you:
No new customers
As the CEO, you should constantly be talking to potential and new customers. If this has not happened, it either means that your company is not competitive enough in the market or your employees (including you, the boss) are not pulling their weight. Either way this is a huge problem and it could mean that your company could fail unless you can find customers in order to continue to generate revenue.
No public exposure
If your community doesn’t know you exist, if you are not listed as a resource in companies in your industry, if your friends and family are not promoting your business to create awareness to draw customers, then your business will be invisible, and it is a sign that something is seriously wrong. In other words, your business should have some exposure, no matter how little to attract your target market.
CEOs and entrepreneurs do not do this on purpose, but if you keep making the same mistakes without realising it, then your company
Summary: How to make your staff look better in their office workwear by upgrading your corporate uniforms.
We all know that people are not one size fits all, and that’s why many office uniforms can look daggy. When companies don’t take into account that all employees are shaped differently, and choose just one look for men and one look for women, it can make the clothes look bad, and the employees look even worse!
The trick to having an office uniform that doesn’t look daggy is to choose multiple different styles and cuts that flatter different sizes and shapes on people. A specialty corporate uniforms store is the key to finding the range that you need at the prices you’re wanting to pay. They offer an extended range so you’ll have all the options you need to create the perfect individualised uniform for each staff member.
So what can a specialty corporate clothing store offer your business?
Stylish business shirts
Multiple designs, colours and cuts of business shirts can ensure that your team is well dressed while at the same time actually looking good too. Contrasting business shirts are
Financing is critical not just for startups, but even for an existing business that has needs to maybe expand the business. Luckily, there are so many financing packages that touch on the different business areas and the needs you have for your business can help you make the right consumer financing decision. Different financial institutions and lenders have varying terms of service when you seek a loan and so you should have this in mind too when seeking financing.
How is your credit history?
The credit score can determine the amount that you can be loaned and the interest percentages. This however varies from one lender to another and you should therefore start by evaluating your credit history and the impact that is going to have on your financing. Fortunately, you can find no credit check financing arrangement which means that you can still get the financing that you need regardless of how your credit history looks like. You can get financing even with bad credit, but this depends on the institution you choose to use when getting the financing.
As of 2015, annual revenues obtained from the food truck industry were over $1 billion. According to experts, the industry is on a 9.3% growth rate; therefore, if you have always wanted to venture into it, there has never been a better time than this to take the plunge. For you to start a successful food truck business you need to put a number of factors into consideration. These factors include:
This is basically a guide that will help you start off successfully. For you to come up with a concept you need to undertake plenty of research. You should research on the fast moving food in your area. You should also research on the equipment that you need for the work. If you found that coffee is fast moving in your area, one of the important equipment you need to have is storage space for water to brew coffee. Before you finalize on your concept, undertake a taste test and see how people respond to it.
When doing research on the food concept, also research on the best vehicle to go for. There are
When working in the big MNCs or Fortune 500 firms, there are number of files that start to hoard in the file room. In such cases, it is best to have a storage option where you can keep your documents. Since everything has gone “digital” these days, cloud storage has become very popular with people. But, there are also practical uses for physical document storage too.
Physical Copies = Lesser Corruption
Files, media stored on digital devices are always prone to being hacked and altered. If you pick up the morning paper, you will find at least two articles that talk about how tech companies are spending millions of rupees in protection their data online. Hacking has become a global threat to large MNCs where whereby huge security measures are being levied. There is nothing that will make it 100% proof.
Physical documents in turn tend to be difficult to corrupt. The main reason being, you actually need to be there in the flesh for your devious plan to work. Evidence will always show in some form or the other; not that it is difficult to track
How is that possible? Did that baffle you? Probably, this is the reason why you stopped by to enquire. All of us lead a life which is akin to an oxymoron. We like ‘free gifts,’ but gifts are always free; how can ‘original copies’ be original? Similarly, how can you be lazy and yet grow your business?
In a recent survey by the World Bank group, the ease of doing business in India has improved by four ranks. Both Delhi and Mumbai have enforced new reforms for a start-up so as to make it a relaxed affair. They have eliminated the need to obtain a certificate to start business operations. Going another step forward, they have also eliminated the need for minimum capital requirement. Delhi has also made securing electricity connections faster and simpler.
Through this, it is believed that the level of start-up planners would now grow and India shall automatically reap its benefits. All things acceptable. But, just let us ponder for a moment, even if a prisoner is offered to live in a highly hygienic environment, offered lavish food to eat, is given
When it is time to sell your business often the only way to make the sale happen is to carry back a financial note. To give you an idea let’s say you sold your business for $200,000. The buyer puts down $40,000 upfront. They are not able to find financing for the remaining one hundred and sixty thousand dollars. They try to qualify for bank financing or some other financing. Usually they are rejected. The only option to make the sale is for you to carry back a note for the remainder. So from our example you will be carrying back a note remaining $160,000. Carrying back a business note is often the difference between a sale and having to keep the business. Below we will discuss three things that you should keep in mind when writing up a business note to carry for the sale of the business.
1) Ask your lawyer and your accountant to review the financial note and be sure that you are covered legally and professional. Look upon the note as a large amount of cash that you are loaning
CEOs have a lot to worry about, but what are their greatest concerns? What keeps them awake at night? Their concerns fell into three broad categories: talent, operating in a global marketplace, and regulation and legislation according to The Harvard Business Review.
As a CEO you will always running short of time which keeps your attention away from the key data/KPIs which need to be looked to run your business hassle free. The Key Performance Indicators should form the base of your business which helps in taking proactive and faster decision.
KPIs set is different for each Industry segment depending on the requirement of the business, it should depict overall performance of the company at a glance to CEO. Earlier decisions were made on the guts basis by CEO but with the evolution of BI, more informed decisions are taken with the availability of real- time data analysis. CEO Dashboard should give CCTV coverage of company’s health indicating various leakage happening.
The 5 mandatory KPIs in CEO Dashboard
Progress towards Target
When you set monthly, quarterly, annual and long-term targets for your company and individual resources, a check is always needed on your goals. So you
Being a building contractor comes along with several responsibilities where you have been assigned to construct buildings by your client. It involves arranging for labourers, purchasing raw material, estimating the time frame for the completion and finally clearing out the construction area from all the unwanted commodities strewn around. The waste often include waste extracted from building material, soil, broken glass, concrete blocks, broken bricks, stone chips, etc. Quite often, contractors make use of the labourers to help in clearance of the construction waste but those results in improper waste disposal.
Construction waste is often hazardous and when not disposed well, it is known to cause severe damage to the environment. There are designated professionals in most cities that specialise in construction waste disposal and perform the tasks with expertise. They are equipped with necessary equipment and machinery to ensure that the construction waste is taken care of and disposed in the most effective way. Here are a few benefits of hiring them which would make you understand the difference between their service and of those provided by the labourers.
Small and growing businesses are often tasked with the challenge of making do with inconsistent profits. While their overhead costs remain fairly static, they may not have enough regular money coming into pay their bills on time. With the right strategies, however, these entities can bolster and build their bank accounts for greater financial health overall. Following are several tips that owners of small-sized companies can put to use right now.
Stop paying your bills long before they are due. Although you might feel hard pressed to resolve these debts, keeping your money in your own bank account until bills are actually due is a much better way to manage your funds. This way, your cash can continue earning interest and actively working for you for as long as possible.
Make sure that your investments in new equipment and other resources are actually adding value to your business. New investment decisions should be entirely data driven in order to ensure wholly positive outcomes. When they are, all new tools will increase your productivity and overall capabilities so that you are primed and ready for expansion. Buying
All companies should make a diligent effort to properly care for the resources that they’ve invested in. The more tools that a business has, the more capable it will be of meeting the needs of its customers. In fact, the first step in planning a successful expansion effort is simply acquiring the necessary equipment for meeting greater demands. For these and other reasons, you should be doing all you possible can to get optimal value from these investments.
Make sure that you are investing in products that you actually need for your operations. While certain additions may come in handy from time to time, it could be more cost-effective to rent these if you don’t require them for consistent use. This is especially true if you happen to have a fairly limited budget for new resources and a wealth of equipment needs.
Take a complete inventory of these assets in order to identify areas of redundancy and determine which products your business is in greatest need of. You may discover that you have purchased multiple unit of the same tool even though each new addition does
And you thought all those certified companies were mad to hang their certificates right on their reception desks?
If the certification isn’t so important, why do you think all those companies keep improving themselves over and over again? There are uncountable companies in this world; each of them is managed by someone or the other, who tries his best to make it better after every passing day. There are a lot of reasons why companies get certified.
But why does a firm need to be certified? How does your company improve its image if it is certified? You wonder. Read below to know how certification helps a company:
• It acts as an important tool to get more clients for your business: The good thing about having a certified company is that it acts as a tool to attract more clients for your business. Your clients know that the quality of your company and products is good enough to be hired.
• You compete fairly with all of your competitors: When you have a certified business, you compete in a much better way with all your competitors.
Having a copy of vital files is always a good option. In big MNCs, there are lots of documents, records of every individual and so on. Therefore it is imperative to store documents. But there comes a point in time where the papers eat up on your floor and storage space. At such times, a file storage system comes in handy.
Storing your documents at a secured location is helpful for your own business premises, and in addition to this, you get more space in your office/work place. So let’s us get you started as to why having a file storage system is vital asset for your organisation. It reduces risk, makes finding information less time-consuming, and also saves money.
The file storage system not only keeps your office space to an optimum but ensures your staff will work at their maximum. Get done with the headache of constant file retrieval from stacked boxes. Now files won’t get lost or misplaced and won’t deteriorate through handling. Storing your files someplace else, keeps them in a pristine condition. It really is the smart way to go.
As neuroscience increasingly finds its way into the workplace, and we learn more about human behaviour, what real difference can it make for employees?
At board level, the value of understanding more about decision-making and human behaviour is easy to see: when you are trying to shape organizational culture, introduce change initiatives, and encourage strong leadership, the workings of the brain provide valuable insight.
But how does this filter down to ground level? What can neuroscience teach the ‘average’ employee?
The boss-employee relationship
One important area that it can shed light on is the relationship with one’s boss; many of us could do with a little assistance in that area.
After all, it is often this key relationship that dictates performance, duration of employment in an organisation, and career progression.
Mistakes are often made from both sides – partly because a culture of management rather than leadership has dominated in many organisations for some time now. The focus has been more on managing performance than leading people.
Neuroscience is helping to change this focus, as leadership considers the needs of people in shaping their behaviour, and thus their performance. When this
The fast changing economic scenario entails companies to keep track of their value for having a better hold on the market. The highly competitive market environment is making the assessment of enterprises fluctuate drastically. Also, you will find many companies that have disappeared from the list few months down the line. Hence, it is crucial to get a certified business appraisal. It will not only serve as a benchmark, but also help businesses in many other ways.
Here are the top reasons why you should get certified business appraisal:
Reporting – You have the responsibility to report the assessment of the company to investors on a quarterly or annual basis. It provides financial health of the enterprise and increases investor confidence.
Fundraising – If you want to raise funds for your business, you would need the appraisal report. It is necessary for both conventional fundraising from banks or for current options which include crowd funding.
Merger or Acquisition – You need a detailed appraisal report of the entire business to enter into any merger, or you decide to sell your business. It is the first step in the
1. Not Having A Daily Productivity Goal
Every morning ask yourself what you are going to do today that will drive your business forward.
As an entrepreneur, it is up to you to take action and move forward. If you have never been an entrepreneur before, this is something that may brand new to you. You are now the creator that has to make things happen. This can be a big stumbling block for people in the beginning.
At the end of the day, be really honest with yourself, and ask what you did today that actually moved your business forward. If you focus on this every single day, you will start to see the compounding results of your efforts.
The #1 focus of every entrepreneur should be to make money. Unless you make money, your will not stay in business! You must know the driving force that will continue to make money for your business.
2. Trying To Do Too Many Things At The Same Time
You cannot possibly focus on everything, but you can get good at one thing. If you jump from one thing to
The most successful companies in all industries are applying strict logistics management principles in every compartment of their operations. Nothing is left to change or left out of scrutiny when it comes to evaluating how the transportation and logistics costs impact the company’s budget and how much waste the company generates through its manufacturing and distribution activities.
If your company is trying to reduce logistics cost, but it has not yet reached the desired level of supply chain optimization, here are the top five reasons why you should consider hiring a professional logistics management company:
1. Reduce Logistic Cost by 50%
Given the previous experience of professional logistics companies in dealing with clients, they estimate that implementing lean manufacturing, sustainable packaging and logistics principles helps them reduce their overall costs with logistics by half. The implementation of logistics management procedures involves everything from rethinking the way products are handled, packaged and stored to the implementation of automated manufacturing systems.