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Archive for the ‘What You Need To Know About Small Business’ Category

Top Stress Relief Tips If You Work In The Events Business

In What You Need To Know About Small Business on June 26, 2018 at 8:43 am

If you work in the events planning business, then you will be no stranger to long hours, evening and weekend work and even having less chance to relax and unwind with your nearest and dearest, so it is up to you to ensure that you take steps to slow down and chill out when you need to. If you find it hard to even enjoy a lunch break, then this could be a sign that you need to explore different ways to have some much-needed me time. As much as you love your job, it is crucial that you put your health and well-being first.

Try meditation

If you are considering trying different alternatives to help you to manage your stress levels, and have a quick break from your workload, then meditation could be the ideal solution for you. The beauty of meditation is that you can also explore this technique from your desk. All you need are a few minutes to take a break from your smartphone and emails and focus on your breath and thoughts so that you can slow down and take a break. Meditation is also beneficial for your mental health, and over time you will find it easier to use on a daily basis. If you have been longing to give meditation a shot, then switch off your tech and put on some relaxing music, now you can begin to leave your cares and worries behind and focus on yourself.

Use your team

If you work in the events planning industry, then chances are that you also have a highly skilled and capable team on site and ready to help you plan and prepare any event that needs sorting, no matter the occasion or time frame. So, ensure that you learn how to delegate and begin to work with your colleagues rather than against them. Remember that there is no ‘I’ in team, so try not to be stubborn and do all the work yourself.

Other stress relief techniques

If time is short and you are struggling to cope, then you can explore different stress relief techniques. Try sites such as Unibet where you can enjoy a variety of online games that provide fun and entertainment for hours. You could also try attending a Yoga or Pilates class. Take time to explore which alternatives work best for you.

If you work in the events business, then it can be tricky to take a break from your workload, plus you will often be expected to work at the weekends and long hours during the week also. So, you can try meditation to help you to refocus and manage your hectic thoughts. Consider making better use of your colleagues to support you during projects. Finally, try out alternative ways for you to chill out and relax, remember that no one solution fits everyone so it may take you a little while to find a way to slow down and unwind that suits you best.

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Smart Money Moves For Small Business Owners

In What You Need To Know About Small Business on June 26, 2018 at 8:00 am

As a small business owner, it is essential to keep tabs on the money in your company. If your business is just starting out, it is vitally important to analyze your money management in order to build a sustainable business. Developing smart money habits is paramount for continuing on an upward trend for any business and using some tactics to improve this can incorporate these aspects into your company culture. To help get you started, there are some fundamental ways to make money management a little easier. Check them out to maximize your company’s growth and put you on the right foot for better money habits.

Consider the initial start-up funds

How much money you have to start your business can assist in making things easier or tougher in the short-term. Having enough money to see you through the first few months is difficult, as you are exploring what works for your company and what doesn’t. To boost this start-up money, investing some of it can be a way to create some extra funds to put towards your idea. There are many options and considering investment such as Betterment vs Future Advisor can help to make the most out of your investment opportunity. This option can depend on your initial starting investment so be sure to do some research before committing.

Invest in software to helps you automate business functions

As a small business owner, time is precious, so you don’t want to be caught up in standard processes that take you away from moneymaking projects. Investing in automation software can assist in streamlining processes and making them more efficient during everyday business operations. There are many functions that can automize including marketing and finance. These systems generate everything from emails to clients and invoices with just the click of a button, and after initial set-up, it is easier to maintain for speedy processing that frees you up from general administration.

Create accurate reporting techniques

Reports will be your best friend when it comes to handling your finances, and without the help of a trusty Excel worksheet, you won’t be able to gain insight into your finances. Building reports such as cash flow, income forecasting, and inventory monitoring are vital to ensure you have the money for the needs of the business. It also helps to predict future operations and spot any seasonal fluctuations that may occur.

Hire professionals

Business finances can be complicated, and with the added pressures of tax and legal compliance’s, it can start to become a burden on the small business owner. By hiring a professional, you can gain expert knowledge to help budget and monitor your expenses and income. It doesn’t matter if you are a solo business owner or have a small team, it’s important to know your financial responsibilities as a business owner to ensure everything is compliant and up to date.

The more you know about your business finances, the better, so learning the ropes and making smarter money moves can help boost your business and personal growth.

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How To Make Your Small Business Look Big

In What You Need To Know About Small Business on June 22, 2018 at 1:11 pm

Running a successful small business is more difficult in some ways than it was in the past. Thanks to the Internet, you are competing, not only with other local businesses but also with virtually every other company in the world that offers the same product or service that you offer. Potential customers tend to trust well established, successful businesses. If your business phone is your cell phone and your business office is your basement or living room, how do you convey the professionalism needed to compete?

Virtual Offices

If your business occasionally requires you to meet with clients, your home is not the right setting, nor is the local Starbucks. In most areas, you can rent a virtual office in an office building at a very reasonable monthly rate. Arrangements vary with your needs. You may rent a private office with a shared receptionist if you need a professional office setting on a regular business. You may also rent a virtual office, which will give you a mailing address, receptionist services and the use of a conference room for meetings. Clients walking into the office space will not know that your main office is in your home or on your laptop. Get more information here, or in any publication showing local real estate listings.

Answering Services And Mail Drops

If you don’t need a physical location to meet clients, an answering service will make your customers believe they are calling your office and talking to your full-time receptionist. Virtual mailboxes allow you to have a business address anywhere in the country. For a monthly fee, your mail will be forwarded to your home address, and your customers will see any address you choose. Musicians and actors often use New York City addresses, for example.

Websites

No matter what type of product or service you offer, a professional appearing website may be your most important asset. Many free or low-cost website builders are available and can deliver personalized, professional looking websites that will suit many small businesses. Professional web designers can be expensive but may be worth the money in some circumstances. If you do a lot of online sales or need multiple pages with different types of media content, you may find do-it-yourself web design software too limiting. Choose where you want to spend your money, and invest in your website if that is the primary means of communicating with your clients.

Online Presence

Yellow and White pages are pretty much a thing of the past. No matter what you sell, your potential clients will turn to Google if they are looking for it. Even the smallest businesses can show up on the first page of a Google search with the right online marketing. Understanding the basics of search engine optimization (SEO), or hiring someone who does, can increase traffic on your website, bring in targeted customers, and keep your current customers coming back.

You can increase your online presence by starting your own blog, and by posting on other blogs that relate to your business. If you are using a blog for your business, keep the content business related. Your personal observations, rants, cute cat photos and travelogues should be saved for your personal blog.

Take Advantage Of Online And Local Resources

Help for small business owners is out there – take advantage of it! From the government’s Small Business Administration to sites like the one you are on right now, plenty of resources exist to help you in every aspect of your business. Use the experiences of other entrepreneurs to teach you what to do and what not to do, to present yourself and your small business in the best possible way. Free and paid business training reviews are available at your fingertips.

If you take some time, and maybe spend a little money, you can make your small business look like a big competitor, whether your target market is local, national or global.

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Pros And Cons Of The Gig Economy

In What You Need To Know About Small Business on June 22, 2018 at 1:08 pm

 

Gen Xers and Millennials are changing the way America works. Once, the typical American worker worked at one or two jobs throughout his entire working life, retiring after twenty-five, thirty, or more years of service with a gold watch and a pension. The Bureau of Labor Statistics reports that Millennials, by contrast, may hold 12-15 jobs in their lifetimes. Many are giving up the idea of working a steady job altogether, opting instead for the freedom of freelancing. The traditional job isn’t about to disappear any time soon, though. In 2017, 10 percent of American workers made their livings in non-traditional ways, such as driving for Uber, delivering for Amazon.com, and working with temporary employment agencies, a slight increase over the last ten years. Many others have started their own businesses – a graduate with a degree in marketing, for example, may decide to start his own online marketing agency instead of working full time for someone else.  Even lawyers and other professionals are working as freelancers.

What are the benefits and drawbacks of the gig economy? For employers, hiring independent contractors saves money on worker’s compensation insurance, payroll taxes, and benefits. Opening projects for bidding by multiple contractors can result in savings also. The downside? An independent contractor can quit any time if a better gig presents itself, leaving you scrambling for someone to cover. Of course, a contractor who fails to complete his projects will eventually get a reputation for being unreliable, and may end up out of business. Employers also have less supervisory control over independent contractors, and need to do their homework before hiring someone for an important project, only to discover later that the contractor’s work is not up to par.

For a worker, the primary benefit of the gig economy is freedom. If you don’t want to work today, you don’t have to. If you want to work for a few months, save up some money, and travel for a while, you have that option. There are some drawbacks – as an independent contractor, you are on your own if you are injured in a car accident on the way to pick up your Uber passenger. If you get carpal tunnel syndrome from spending too much time typing, or experience any other job-related injury, there is no worker’s compensation insurance to pay you while you are out of work, unless you purchase your own policy.  You do not have an employer to withhold taxes from your weekly paycheck, but you are still responsible for paying into the Social Security system in the form of self-employment tax.

Other long-term consequences of the gig economy have yet to play out. Fewer traditional workers mean less money going into Social Security. Independent contractor income is often underreported. Many Millennials have little faith in Social Security anyway, and express concern about the system’s solvency when they reach retirement age. When you are self employed, though, it takes a lot of willpower to set aside money for taxes and retirement. Things may look bleak at age 65 if you do not plan ahead.

Looking to jump into gig-based work? Do some research. Acquaint yourself with the tax laws that might affect you, look into retirement plan options, consult an attorney. You may find that traditional employment is a better fit for you after all. If not, welcome to the gig economy, and good luck!

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How To Improve The Efficiency And Productivity Of Your Team

In What You Need To Know About Small Business on June 22, 2018 at 1:03 pm

When you’re running a small business, you have to juggle a lot of responsibilities, and with so many different jobs on your plate, it’s easy to let one or two things slide. These things, however, should not include managing your employees. As an entrepreneur, you should understand that time is money, which is why it’s so important that your team is using theirs as efficiently as they possibly can. Instead of increasing your employees’ hours and costing yourself even more cash, here are seven ways you can boost the efficiency and productivity of your team.

Avoid Unnecessary Work

Delegating work to your employees is part of being the boss, but that doesn’t mean that they need to handle every small, unnecessary task there is, especially when they’ve got more important work to be getting on with. Because of this, you should take a look at the list of things your team need to get done each day and see if there’s anything you can scrap or outsource to another company. This will free up some time, which will massively reduce your team’s stress.

Hire Skilled Staff

When it comes to hiring new staff, it’s crucial that you employ the best people for the job. There’s no point in employing someone who is under-qualified, as this means you’ll have to waste time and money training them up. To get the best staff possible, some companies even hire from abroad and help these people get their h1b visa. Sometimes you have to spend some time and money to save some time and money, but it’s all worth it to have an efficient team.

Set Attainable Goals

Many business owners make the mistake of setting goals their team has no way of attaining. They hope that by doing this, it’ll spur their employees on to work even harder, but, more often than not, all it does is cause unnecessary stress. The work you set shouldn’t necessarily be easy, but it must be possible. Stressing your staff out and making them work non-stop won’t improve their efficiency; All it will do is exhaust them to a point where they can’t work anymore.

Provide Proper Tools

When you set your employees a task, it’s vital that they have all the tools they need to get the job done. In some cases, this is as simple as providing a pen and paper, but in others, they’ll need a range of different skills and equipment to complete their work. If they don’t have what they need, then it’s going to take much longer to get things done, if they can get them done at all. Start your employees off on the right foot, and they’ll be a lot more productive and efficient.

Offer Great Incentives

Happy employees make efficient employees, so it’s important that you show that you care about your team and offer them incentives and rewards for hard work. These rewards don’t have to be expensive, but they should be well thought out. Once you’ve decided to reward a specific employee, it’s important that you take their preferences and needs into account. After all, there’s no point in giving someone a thank you bar of chocolate if they’re lactose intolerant.

Give Constructive Feedback

If you want your employees to improve their efficiency, then you actually need to let them know that something is wrong. Of course, you shouldn’t just confront them and tell them off, but you can offer constructive feedback in a performance meeting. You can also ask them why they’re not working as efficiently as they could, and see if there is anything that you can do to help them out. After all, they’re your employees, so it’s your responsibility too.

Let Them Telecommute

For most people, letting their employees work from home seems like a bad idea. After all, when you’re not there to keep an eye on them, there’s no reason for them to get any work done. However, telecommuting has been shown to improve efficiency and productivity dramatically. Your employees can save time and money that would have otherwise been wasted on commuting and don’t have to take a day off when they’re sick or have a problem at home.

Improving the productivity and efficiency of your team is going to take some time and work. There will be lots of little problems you haven’t even thought of, and you’re going to have to deal with each of them one at a time. It probably won’t be easy, but it will be worth it, and you can follow the tips above for some help.

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