How Small Changes Can Optimize Your Business Profits

StrategyDriven Managing Your Business Article |Profitability|How Small Changes Can Optimize Your Business ProfitsWhen you run a small business, your focus is primarily on working towards increasing profitability by maximizing sales; finding new customers, running successful marketing campaigns, sourcing better products and so on. With all these strategic goals to focus on, it’s unsurprising that a lot of the smaller influences on your bottom line slip under your radar. However, neglecting smaller matters can make your primary role a great deal more challenging, so it’s worth spending a little time and effort on smoothing out any rough edges in your business.

The saying “don’t sweat the small stuff” has wisdom, because worrying about trivial matters in your life can cause you to forget the bigger picture and make you unnecessarily stressed. However, in business, you should keep an eye on the everyday ins and outs of how your business runs, for there’s very often useful information to find or improvements in processes that save time and money.

Embracing Balance

What you need is a balance; you don’t want to spend a lot of your valuable time carrying out mundane tasks like checking the stocks in the stationery supply cupboard. On the other hand, you could be spending far more than you need to on supplies because one of your staff members is helping themselves. A quick spot check on the stationery supply chain should highlight any discrepancies, saving you unnecessary expenditure, and putting a stop to dishonest practices.

Your Role

Another angle to this scenario is your role as supervisor to your employees. If you have a member of staff who is responsible for all the stationery supplies, you want to be able to trust them to do a good job. On the other hand, however good they are at their job, now and then a review of how they’re carrying out their responsibilities is wise because everyone benefits from a fresh pair of eyes on their work. For example, you might see the potential for cost savings or ways of streamlining the task that hadn’t occurred to your employee.

Equipment & Tools

It’s also sensible to check that every member of staff has all the tools they need to complete their work to the highest possible standards. That could mean replacing standard keyboards with ergonomic versions, updating the office chairs, or providing better break facilities. Small changes like these improve the working environment for everyone, and staff who are happy and well cared for are far more productive.

For employees who don’t work at a desk all the time, there are other considerations to make. For instance, do they have safe and sensible storage solutions for their tools? A scatter of tools on a workbench makes unnecessary clutter, and it’s harder for employees to find what they need, wasting time every day. Using a well-organized storage system protects tools and ensures they’re readily at hand when needed. You could also combine the function of storage with the workbench, saving space and making it easier and quicker for staff members to carry out tasks. Check out this product to see how the concept works in practice.

Regularly Reviewing Processes

As well as staff facilities and activities, reviewing your processes can highlight opportunities to make savings and optimize productivity. How long is it since you compared what you’re spending on essential goods and services with the prices other suppliers are charging? A quick review of your bills and a comparison to what you’d be charged elsewhere can save you hundreds or thousands in costs every year. You don’t need to spend ages seeing the whole process through, simply delegate the nuts and bolts of the task to a responsible member of staff.

On the subject of staff, their performance is influenced by far more than their equipment and facilities. If you’ve been concentrating on strategic matters, you may have fallen into the trap of failing to provide positive reinforcement to your staff. The boss who only notices their employees when they do something wrong is a familiar stereotype, but there are still many of them about. Examine your own behavior to see if you’re communicating well with your staff. Do you always greet them warmly, give them your attention, and ask after them personally? Or has it become your habit to mutter a quick salutation before disappearing into your office?

Pay Attention to Small Gestures

It’s understandable that the big issues in your business take up your attention, but not stopping to converse with the people around you causes resentment and lowers productivity. Small gestures that show you care and appreciate the work they do are highly motivating for staff and can yield results way above the input required. The same is true of relationships with suppliers. A little time spent building relationships can reap rewards when you need stock in a hurry, or you have a problem with a product.

There are probably many other small influences relevant to your business that don’t get your attention, but that could be affecting your profitability. For example, if you have a store with a window, keeping the displays fresh and attractive is essential for drawing in customers. But have you been so absorbed in what should go in the window that you’ve forgotten about tasks such as cleaning the window glass, so it sparkles, or sweeping away any cobwebs?

These little points can make the difference between you attracting customers to come into your store and seeing them wander off to your competitor’s store. There are cycles in all things, so if you’ve got some aspect of your business perfectly sorted today, don’t forget that in six months or a year, that area will need to be reassessed. Everything changes over time, but being aware of how to monitor these changes and keep in sync with them gives you an advantage over your competitors.

It’s vital to spend the bulk of your day engaged with the matters that need your expertise and supervision, but in your efforts to manage the big picture, don’t neglect the smaller elements that play such a fundamental role to your business success.

5 Ways Retailers Can Increase Sales

StrategyDriven Managing Your Business Article |Retail Sales|5 Ways Retailers Can Increase SalesIf your business has experienced a dip in sales, the first thing you must do is research why this might be. Even if it is seasonal, it’s a good idea to get a sense of what can be done to give yourself a boost to make up for the temporary loss. Researching your company’s weak spots is incredibly useful not only for sluggish sales but also to ensure your company’s longevity in the future.

Ask for feedback

There’s nothing more irritating than experiencing a dip in sales, particularly if you’re not entirely certain as to why. One of the biggest focuses any business should have is their engagement with their customers. Good customer engagement and service will leave visitors feeling as if they were listened to and valued, rather than completely undervalued. Asking your visitors and customers for feedback might illuminate some problems with your branding or sales technique you didn’t realize you had.

Develop a marketing strategy

At the center of any business’s sales strategy should be their marketing strategy: this will affect how your business is perceived and how far it reaches among online and real-life audiences. While it’s always good to rely on customer engagement and service to ensure good word-of-mouth, marketing ensures that your reputation spreads much further. Using specialized auto sales events can not only help with your campaign but also hold unique events to promote your business, generating sales through networking and direct communication.

Add discounts and freebies

If you have a solid customer base and are either looking to retain their loyalty or bring in a new swathe of visitors, offering unique discounts can help drive this. It’s said that offering complimentary services can help drive sales and attracts brand new clients to your business.

Showcase your benefits

What can people truly gain by using your service instead of anyone else’s? It’s been found that customers are more drawn to specific benefits rather than actual product features. As part of your new marketing strategy, it’s a good idea to focus on this, rather than what each product specifically features. Driving this message across your social media platforms and in person should help promote how you, as a company, can personally benefit visitors.

Tactical pricing

How you price your products should involve a little research. If your business has nearby competitors, you may want to offer a price that is a little more affordable to passing customers. Providing the same service that is much cheaper will encourage people to spend their money with you, rather than a pricier competitor. Similarly, however, if you are undervaluing a product, increasing the cost of it may help to boost your revenue without a solid push on sales.

In order to drive sales, you will first need to put yourself in the shoes of the customer. You’ll want to reassess how your company appeals to the everyday person and what can be improved. At the center of this should be a robust marketing and sales strategy.

How To Run A More Successful Business

StrategyDriven Managing Your Business Article|Running Your Own Business | How To Run A More Successful BusinessIf you’re a business owner, then it’s likely you’re always trying to think of ways for how you can be and do better in your role. The following advice is going to help you focus on the right elements so you can run a more successful business.

It’s going to take hard work and dedication, but with time you’ll start to see the results you desire. Sitting back waiting for change to occur or hoping that your situation improves isn’t a good plan of action. You’ll need to be proactive and ready to tackle the most important initiatives if you want to thrive in the future.

Wake up Early

It’s a wise idea to wake up early and seize the day when you’re in charge of running a business. This way you’re giving yourself more time in your day for personal matters as well as work obligations. For instance, maybe you decide to get up early so you can hit the gym each morning and reduce your stress before entering the office. On the other hand, maybe you find you think best in the early morning hours and want to do some problem solving and complete a few tasks at home before you go to work. If you’re worried about getting enough sleep, then consider going to bed at a decent hour so you can make sure you’re well-rested the following day.

Manage Your Finances Closely

You can also run a more successful business when you’re consistent about keeping detailed financial records. You’ll want to manage your money and assets closely so you have correct data and can use this information to become more profitable. Be glad to know there are tips and tricks you can use that are going to help you succeed in this area. Go online to check it out so you can adjust your processes accordingly and ultimately make more money. You not only want to keep accurate records for yourself and to run your business but also for when tax time comes around and you need to report your finances to others.

Hire Wisely

Your business will be a lot more successful and run smoother when you put in the extra effort to hire wisely. For instance, take time to write out job descriptions, interview candidates and determine who is going to be the best fit for your company culture. With the right people in place, you’ll be able to more quickly achieve your goals and move your business forward in the right direction. If your objective is to be more successful, you want people on your team who are willing to collaborate with others and offer up innovative and creative ideas.

Fix What’s Broken

It’s a wise idea to be honest with yourself about what’s happening at your company and to address problems right away. Fixing what’s broken is a great way to eliminate whatever isn’t working for you currently so you can implement new solutions that will have a positive impact on your business. Designate time to set goals and track your progress so you can better monitor where the gaps exist. The sooner you can pinpoint any mishaps or roadblocks the easier it’s going to be to get yourself on a path that will allow you to outsmart and surpass your competitors. Ask for feedback from coworkers and customers regularly so you can get a good idea of what’s working and where you can be improving.

Take Care of Yourself

You’ll be able to run a more successful business when you commit to taking care of yourself. This includes:

  • Eating right
  • Exercising frequently
  • Getting enough sleep
  • Managing your stress
  • Practicing work-life balance
  • Setting boundaries with others

You’ll find you have a lot more natural energy and are in a better mood when you put your needs and self-care at the top of your to-do list. It’s going to be very difficult to be a good boss and business owner if you’re feeling worn down and exhausted all the time. Commit to being kind to your mind and body, and you’ll find that work won’t feel like such a difficult task each day.

Be More Organized

You’ll be doing yourself a lot of favors if you’re always organized and know what’s going on in your personal life and with your business affairs. Make sure you know where your important files and belongings are located at all times and try to keep a clean and tidy workspace. In addition, you want to have your customer’s information in a secure place and readily available and organized should you need to refer to it. It’s important to be punctual as well and show up to meetings and appointments prepared for the upcoming discussion.

Provide Excellent Customer Service

Your business is going to be a lot more successful when you consistently put your customers first. Commit to providing excellent customer service around the clock, and you’ll notice that you’re able to win over more clients and you have fewer complaints to manage. Be sure to train your employees, so they know how to handle the tough questions and are professional and courteous in every interaction with customers. Put policies and procedures in place that sets expectations for those who choose to do business with you, so there aren’t any gray areas. You’ll never regret putting more time and energy into making sure your clients are satisfied and always taken care of.


Anyone can start a business, but not everyone can run a booming operation. Use these tips to help you advance your company so that you can reach new levels of success. Pay attention to what begins to have the most significant and positive impact on your business once you start making changes at your workplace so you can continue to do more of what’s working well for you. Accept that there will be challenges and setbacks along the way but that if you keep pushing forward and put the right objectives in place, you’ll ultimately achieve success and be unstoppable.

How Can A Business Owner Remain As Informed As Possible?

StrategyDriven Managing Your Business Article | Entrepreneurship | How Can A Business Owner Remain As Informed As Possible?Every business owner needs to remain informed in several fields should they hunt success. This is of course one of the most grounding and obvious principles to be accepted before you begin. But it is also quite essential to consider how, and why being informed matters, and how to ensure that even in the midst of success, you are able to keep your eye on the ball. Markets shift quickly, and customer perception will also. It’s very possible for a firm that broke revenue records last year becomes shunned a few months into the next. It’s incredibly possible for even massive, staple companies such as Apple to read the market and their audience incorrectly, or push the envelope just a little further towards predatory pricing than their customer base might accept.

This means as a small business owner, where each point of revenue is much more significant, you need to understand how to curate your output and try your best to regain your strong footing in the market. Staying informed is the way to get there.

But how does this look in a functional sense? Let us consider:

Remaining Up-To-Date

There are many forces that shape the landscape of a firm over time. Automation, technological shifts, cultural trends, the political sphere, these are but a few categories that can inform or discourage a purchase or subscription from the employees you care about. Remaining up-to-date means more than you might consider. It’s essential to keep up with the news of your industry. Subscribing to journal digests, and collating your own list of RSS news feed inputs can help you keep on top of the big stories as they happen. Following the movers and shakers of your industry on Twitter can also help you see where the next hot-button effort is, and that’s truly important to potentially subvert that and become a trendsetter yourself. Without knowing where everyone else is, it can be hard to define yourself and bring something new to the table.


Every business owner knows that looking at their performance and reflecting on what’s going both right and wrong is essential if they hope to make any progress for the future. This can help you assess if you’re going along the right lines, or if you need a vital shift in your efforts. But if you simply know how to view those metrics and do not wish to streamline them or try to implement those solutions, you’ll be informed without practicality. This is where Softengine comes into play, as a means to help you collate your SAP business offerings, to help automate your essential processes, track them in real time, and to do so within several different departments. The more information you have to play with, the more metrics you can record and the more you can shift their intent, the better your business is at the end of the day.

Listen To The Staff

Your ground-floor staff are often those who interface with customers each day, who experience your policies and decision in real-time. Listen to them. This is essential to ensure that you gain valuable insight you couldn’t anywhere else. Keeping this open-door policy and encouraging those reports can help you tap into information other business owners might not be.

With these tips, you’re certain to remain as informed as possible.

Why Everyone Needs to Know a Banking Expert Witness

StrategyDriven Entrepreneurship Article | Banking Expert | Why Everyone Needs to Know a Banking Expert WitnessThink about some of the most heated arguments of your professional and personal life. Odds are, a good percentage of those disagreements were about money. Money is a driving force in most people’s lives: getting it, keeping it, and spending it. Some people even claim that money is the root of all evil. Unfortunately, many criminal or ethically questionable actions are taken in the name of money every single day, and in today’s increasingly litigious world this often leads to a trip to court.

Financial knowledge in the courtroom is not just for large cases involving corporations or millions of dollars. A simple breakdown in communication or disagreement could lead to a lawsuit at any time, with anyone. The neighborhood kid who mows your law could even take you to court if your actions are interpreted as malicious, such as refusing to pay him for a poor job. While that example is extreme, it does show that litigation is lurking everywhere, and a responsible person should be prepared for the worst. Having a network that includes a banking expert, or knowing of a reputable one, could be important on short notice.

The complexities of banking and finance involve a lot of moving parts as well as regulations and systems that are constantly in flux. Only someone with extensive professional knowledge is qualified to appear before a courtroom as an expert witness. Bolstering your legal team with a banking expert is crucial to help insulate your assets from greedy unwarranted claims and even deserved ones. Minimizing your exposure to losing a lawsuit of any kind involves relationships with more than just an attorney.

Finding an expert witness can be as easy as a Google search. However, checking for a long history of fulfilling this role as well as pertinent professional experience is important. Searching for the best expert can help anyone get closer to legal victory.