Tag Archive | Technology

5 Ways To Boost Your Small Business

Running a small business is no mean feat, and what many entrepreneurs find out when they start up their empire is that there are a lot of things they wish they’d have been told about. Even though your business might begin from a simple little desk in your spare room, the reality of running a corporate empire is one which hits many so hard that they fail within the first year.company-finances

Luckily, today we are going to take a look a few ways you can boost your business’s profitability and make it a much more successful one for you and your employees.

 

Keep Up To Date With Trends

Whatever industry you operate in, you’ll need to stay in the loop and learn to read the signs of change within the business world. This can apply to new technology releases or even social trends.

As social media is such a widely used platform, being able to monitor trends using Google Trends can give you a sense of things which are popular and what you should market to your audience.

Hire More Staff

Eventually, the volume of demand you receive will outweigh the work you are able to complete. This is the time you should think about hiring some extra help. Make sure that before you decide to take on a new employee, that you have a specific role in mind and the budget in your finances to pay for their equipment and wages.

You may need to take out a small loan with a company such as this: https://smallbusinessloans.co/working-capital-loans-small-business/ to pay for a new desk setup and workstation for your new team member. But you’ll be able to pay that back easily once you start producing a higher volume of product or serving more clients.

Rent A Larger Space

If you don’t work from home and have opted for renting an office, a great way to help you become more productive is to hire a larger space. A clear space offers a clear mind and will also allow you to hire more people and add new equipment which is essential for your work.

Learn Some Marketing Basics

Marketing is a subject which is fast becoming the most important in the business industry. Social media is more critical for the running of a successful business than many other forms of marketing these days.

And utilizing these platforms is a skill which requires a lot of learning. Consider taking a course in social media to learn the ins and outs of each platform, and you will be able to tailor your promotions and social posts to specific audiences. There are many courses you can take online such as here: https://www.e-careers.com/landing/dmi_digitalcourses/

Record Your Expenses

To be able to grow as a business, you need to be clever with the handling of your crucial documents and finances. Make sure to record every piece of incoming cash flow and every expense each month, as this will allow you to set goals for the following month and hopefully make a larger net profit as the months go on.

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3 Things You Should Improve On To Run A Good Business

Even if you’ve mastered something, you can always do with improving! That goes for business and all the aspects involved with running a business as well!

 

There are a lot of aspects to running a business and all of them could do with improving, even if you think you’re at the top of your game in business. From treating people with respect to making sure you’re keeping up to date with software, if you improve your business skills in various areas, you’re sure to succeed!

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Technology:

If you aren’t going to get to grips with the ever advancing world of tech, make sure you hire someone who will. Otherwise, you’ll be left behind.

Technology can do some much for our businesses that it can be a serious waste of time, effort, resources and money to avoid it. Some software applications can seriously simplify tasks right down to a point where you’d be insane to miss out on it!

Technology is always advancing and if you don’t get a hold of it or work to understand its various applications in the workplace, you’ll be missing out. This is especially true if you’re a budding entrepreneur where your time, is money.

Even if you do understand technology, we can always improve our working knowledge of it to find new ways to make the everyday a bit more extraordinary.

Discipline:

Discipline in the workplace doesn’t revolve around punishments and the like for your staff. Discipline comes down to focus and that goes for you more than anybody else in the office.

A business that is run by a focused mind is going to succeed more than a business ran by someone who keeps procrastinating. Keep your eye on the prize at all time.

Of course, it does also mean keeping your staff in line, but don’t go overboard. Fun should still be allowed in the workplace, it just shouldn’t come at the expense of productivity.

Reward your staff when they do well, but offer them a helping hand when they are down. If someone is upset, roaring at them isn’t going to transform them into a beacon of productivity for your team. This also goes for yourself, if you’re self-employed. Be forgiving and reward yourself.

Communication:

A lot of business is done through talking, so make sure you always know what to say. This also means treating your clients and employees with respect as well as keeping an open and honest workplace where everyone knows their duties and responsibilities.

The efficiency and productivity of your workplace stems from, how well of a communicator you are, how efficient you are with words, and how good you are at advice and explaining issues.

There are plenty of tools on offer to ensure you’re doing a good job of communicating in the workplace. Applications like Skype can help you keep in touch with your employees wherever you are and a remote mailing address can ensure that you can pick up and forward your mail no matter where you are based.

 

 

Digital Transformation – The Critical Ingredient For Business Success

Digital transformation.jpegThe term digital transformation has been bandied about a lot in business circles for some time. Many companies think that it means using social media or software to organise a business. But the truth is that it involves a lot more than just that. Real digital transformation in your business includes culture too.

You have to be able to coordinate management and employees and change how your social structure thinks. Digital technology makes many working practices utterly obsolete. It also makes many positions obsolete. And for these reasons, you’re likely to face a good degree of resistance to implementing any changes you feel are necessary.

As we approach the end of this decade, it’s becoming more and more obvious that digital tech can’t be siloed. It’s spreading out into all aspects of business and transforming all lines of work. It’s key that you get your people on board, no matter whether you’re using apparel software for your clothing shop, or CRM for a bank.

Get Your Board On Board

The first step in making a digital transformation of your business is to get your board to sign up to the idea. But this can be difficult. Recently the AA, a car breakdown service, took its business digital.

One of the biggest obstacles the reformers faced come from the board itself. Many board members had been around for a long time. Few of them understood the magnitude of the changes in the digital economy. Some were operating on business models that were hopelessly out of date.

Reformers got board members to change their mind through their vision of what AA services could be like in the future. But it was tough. Engaging people on the board is difficult and explains why so many businesses have fallen behind in recent years.

The fact that board members don’t want to change is backed up by a report by research agency Organic. The agency found that 62 percent of employees feel that the biggest barrier to going digital is the company leadership itself.

The advice from movers and shakers in the AA is to break the problem down into chunks board members understand. Don’t try to sell sweeping changes all in one go. Instead, suggest changing smaller pieces of the business, one by one. Then try to build these changes into a transformative end product.

Culture Change

Technology and customer behaviour go hand in hand. When one changes, so does the other. It’s important, therefore, that customer’s needs are met during the transition. Just a few years ago, 72 percent of big clothing brand sales came from catalogues. Now, however, 63 percent come from mobile devices. Gareth Jones is the deputy CEO of Shop Direct. He says that apparel software has helped his company provide a better online experience for his customers. There’s more data and personalisation than was possible using paper.

His business knows that it is on to a good thing and it’s investing a lot of its money in new partnerships. There’s still a lot of work to be done, he says. But going digital has been critical for the shop’s success.