Biggest Mistakes Businesses Make When Outsourcing

/in /by

StrategyDriven Managing Your Business Article |Outsourcing Mistakes|Biggest Mistakes Businesses Make When OutsourcingOutsourcing work is one of the biggest factors that makes a business successful. There is a range of tasks that you can outsource, such as administration, accounting, IT, communication, and much more. Outsourcing has become a vital ingredient in the growth of any business because it enables your business to get things done efficiently, take advantage of expert knowledge and expand its capacity, all while cutting down on costs.

Unfortunately, outsourcing has its challenges. If outsourcing is not done correctly, then you may find yourself damaging your business growth, and spending more money.
Here are some of the most common mistakes that businesses make when outsourcing that you should avoid.

Not providing guidance

When you outsource something, while you are paying for their skills and expertise, they are not a part of your business. Many businesses will make the mistake of handing off work with no guidance and expecting a high standard of work that aligns with their business. The problem with this is that everyone works to a different standard, and has different expectations. Therefore, when you outsource work, you should always provide comprehensive instructions and guidelines about the work you want to be completed. You may even work closely with them at first, to ensure they get to know you and your business. While this may take a little investment at the beginning, it will make things much smoother moving forward.

Not doing it soon enough

It is never too early to outsource work. The earlier you outsource work, the quicker your business will grow. Unfortunately, many businesses wait until they are a bigger corporation before outsourcing work, which will take a lot longer to obtain. Many companies tailor their services to support businesses of all sizes, such as small business accounting services that take care of your finances. You do not have to wait until you are bringing in a certain amount of money. In business, you have to invest the money that you have in aspects of your business that will give you a greater return. By outsourcing work early on in your business, you give your business an advantage by accessing expert knowledge, getting things done faster, and freeing up your time to focus on the tasks that matter and will drive business growth. Running a business entails many aspects that require specialist skills, and outsourcing will minimize time, costs, risks and mistakes.

Not measuring the performance

With anything in business, you need to be monitoring your investments closely to ensure they are performing as they should be. Many businesses will outsource work, and push it to one side. However, you should put measurements in place that track the performance, standards and returns. There is an element of trust you must instill when outsourcing work, but you should always verify your investments. Make sure you give it time to work and adjust your outsourcing where needed. Work closely with the company you are outsourcing to, to meet your objectives and ensure your investment is worthwhile.

Outsourcing is one of the best and quickest ways to grow your business, as long as it is done correctly.

How to execute an office relocation project?

/in /by

StrategyDriven Managing Your Business Article | How to execute an office relocation project? | EntrepreneurshipThe office relocation project is one of the major projects undertaken. The process includes a lot of complicated things to complete from moving big bulky furniture items to fragile electronic items and much more. Usually, the job requires a lot of time. If you don’t have any prior experience in moving then hiring the cheap moving companies is the only solution else you will end up either getting an injury or damaging your office belongings. But still, there are a lot of things that you have to do by yourself. If you are confused about completing this relocation then check out these tips to solve your confusion:

Start planning as soon as possible

Winging is not the term when you have decided to relocate your business therefore start the planning right now. You can’t control such a huge project if you don’t plan well ahead of time. Know everything like who will complete the certain tasks, make a to-do list and assign jobs. You should also decide on the flooring layout of your new office so you can get to know what you are taking along with you and what you need to buy from the market. Also, don’t forget to prepare your moving budget.

Keep your employees updated

A business move is not just all about you. It involves your employees too therefore it is important to keep them informed and updated about everything. You should also assign them tasks and should involve them in the relocation process. This will encourage the employees and they will find themselves worthy.

Search for the right moving company

Luckily there are a lot of legitimate moving organizations present out there to help you during the entire relocation process. Of course, in this project, you can’t keep your office shut for a long time as it will affect your business productivity which can lead to a big loss. Only a moving organization help you to focus on your real business and they will take off the entire burden of the process from your shoulders. You just have to ensure that you are dealing with the right organization with which you can get a great moving experience.

Categorize things to speed up the process

If you properly categorize things then this will make the process more efficient. Ask your employees to help you out and assign responsibilities to them according to their departments. This will make things more organized, systematic, and efficient and also you don’t need to supervise the entire process by yourself.

Transfer services

When you leave the job of moving and packing into the hands of your employees and moving professionals, now is time to focus on other important relocation tasks such as transferring the services such as internet service including utilities to your new office and also updating the address in all your documents. You should also inform all the important places about your new address. Update address to everywhere such as visiting cards, websites, email footer, at google My Business page, and in all the directories and where you find this is important to do according to your business type.

Moving IT department

Regardless of the fact whether your office has a small IT department or a large one, moving the department is one of the toughest jobs to do therefore hiring IT professionals to complete the job is great. Ask your moving organization ahead of time whether they complete this challenging and risky part.

Important tip: Do relocation during a down period

Not all the time is the same for all businesses, yes there is a peak time for every company and embarking on the relocation process at such times is a foolish decision you can ever make. Though there is no right or wrong time to do it but considering the business off, consider undertaking the process during the down period of your specific business type.

Wrapping it all up!!!

It has been said that moving house is one of the most stressful jobs to do but moving offices is more complex and stressful than this. Business owners find themselves scrambling, confused, and stressed during such times. Only the organization and the right planning can save you. Take every step carefully and make the relocation decision only when it is really required.

4 Effective Ways To Make Your Office More Eco-Friendly

/in /by

StrategyDriven Managing Your Business Article |Eco-friendly office|4 Effective Ways To Make Your Office More Eco-FriendlyIn 2022, there is frankly no way you can feasibly run a successful business, regardless of the industry in which your company works in, without paying due attention to the carbon footprint and the environmentally friendly nature of your core business processes.

Not only do you have a moral obligation to do all you can to reduce the amount of product waste and energy your office space uses, but also more and more customers and other businesses are choosing to only work with and alongside companies who are shown to be eco-friendly.

With this in mind, continue reading to learn of 4 effective ways to make your office considerably more environmentally friendly.

1. Recycle

One of the simplest yet most effective ways to become an eco-friendlier workplace is to remove every single individual garbage bin in the office and instead create a central station with recycling-specific trash cans which separate different types of waste products.

This way, you can easily arrange for your recycling to be collected quickly and efficiently, as it is all in one place and already organized ahead of arriving at your local recycling center.

2. Use Sustainable Materials

When your office is being redesigned, or a new structure is being created within the space, it is incredibly important to ensure that only sustainable materials and metals are used.

An eco-friendly Aluminum Composite Panel, for example, has a myriad of different uses and can be custom-made to your exact specifications, such as from Multipanel UK. Aluminum is often referred to as ‘the green metal’, as the material can be recycled again and again without compromising the quality and strength of the product.
Additionally, aluminum is entirely fire-resistant yet is effective in acting as a thermal conductor, making it the perfect metal for use in a variety of different office settings.

3. Go Entirely Paperless

Just as at home, when you receive a seemingly endless volume of advertisements, leaflets and takeaway menus printed on high-quality paper, there is also an excess of paper usage in an office environment, and in both locations, most paper ultimately ends up in the trash.

Instead, make a business decision to move forward with an entirely paperless system, even if this means having your in-house, or else outsourced, IT specialist to design extra information spaces and functions on your office intranet.

4. Switch To Renewable Energy Sources

Not only would the switch to entirely renewable energy sources make a huge difference to your company’s overall carbon footprint, but it will also make for a much more sustainable and environmentally-friendly workplace.

Additionally, it is highly likely that at the moment, devices, electronics, white goods, computers and other technologies are being left on overnight in the office, even if this is absolutely not your intention. The best way to counteract this moving forward is to designate one or two ‘green champion’ employees whose role it is to ensure that everything is turned off at the mains, or at the very least, in standby mode.

How To Maintain Business Relevance In A Changing Market

/in /by

StrategyDriven Managing Your Business Article |Business Relevance|How To Maintain Business Relevance In A Changing MarketBeing a business owner has its perks. For starters, you get to help your clients with innovative solutions while building wealth. Moreover, you have the freedom to determine how you work and what strategies will best suit your business. Despite these perks, you can quickly be left behind if your business isn’t relevant in a rapidly changing market. Statistics reveal that 42% of businesses fail because their products and services aren’t needed on the market. How can you thrive and stay ahead of your competition? Here are some smart strategies to help you out.

1. Practice regular communication with your customers

Your customers are instrumental to your business success, and communicating with them can ensure your business relevance. Irrespective of how innovative you imagine your products or services, your business would die out if your customers aren’t keen on them. According to the Harvard Business Review, businesses can’t keep their products on the market due to various reasons. While some products don’t have a market, others need customer education but fail to do so. Moreover, an Idea For Leaders survey revealed that customers would reject a product to stay in control. That said, it makes sense to involve them in your processes to ensure their loyalty.

The key is to think with them to create innovations for their current problems. Therefore, you’ll find it helpful to organize meetings with your clients to determine what products and services they need. Likewise, leverage the public forums on your social media platforms to ask questions. Emails and texts are also effective, but ensure that you send personalized messages to increase engagement. You can also utilize electronic surveys for the best results.

2. Improve your products and services

Competition is an integral part of entrepreneurship, and improving your products and services will ensure that your business stays ahead. Moreover, you can easily meet your consumers’ changing needs to avoid losing your customers’ patronage. A product and service improvement operation is in order if you experience low product demands and sales, increased production costs, and changes in regulations and laws. A 280 group survey indicates that 21% of products don’t meet customers’ needs. A Neilsen research also revealed that 63% of clients appreciated that manufacturers introduced innovative products.

Therefore, you want to consider this option if you haven’t already. Although product improvement may seem daunting, you can achieve it with the right steps. You can begin by identifying and fixing your pain points. Fortunately, you can retrieve the necessary information by creating client surveys and listening to your sales team. You can also source inspiration from your competitors, so keep this in mind.

3. Engage your employees

Your employees represent your brand, and their performance can keep your business thriving or destroy it. Therefore, it becomes imperative to prioritize and engage them in your business processes. Employee engagement comes with many benefits for your business. A Gallup survey revealed that businesses with highly engaged employees recorded 41% lower absenteeism cases. Likewise, engaged employees are likelier to offer better customer services, increasing customer loyalty, and sales. Moreover, high employee turnover rates can hurt your business’s credibility, and engaging your staff will keep them interested in working with you.

To get started, ensure that they are acquainted with your company’s values. Also, getting to know them better is a great way to build a good relationship with them, so keep this in mind. As a tip, ask them about their families and other important details to make them feel valued. It’s also important to create an enabling work environment and provide the right work tools to boost productivity. For instance, you’ll find it essential to get tools from quality brands like The Trimmer Store if you are in the cannabis industry. Likewise, appreciate their hard work and create career growth and development opportunities.

4. Invest in the right technology

While technology is an integral part of daily life, it’s become more important for maintaining business relevance. Leveraging tech in various business tasks ensures accuracy, so keep this in mind. For instance, using automated tools to conduct business research will help you access the needed information to promote business growth. Moreover, you can utilize AI to improve customer service, predict business trends and promote collaboration among teams. As many workers embrace remote working, technology makes it easier for them to communicate with other workers and enhance their efficiency. That said, you want to invest in technology if you haven’t already.

Using the wrong tech tools can be more harmful than beneficial despite their benefits. Therefore, ensure that your chosen tech options suit your business’s needs and improve your existing business processes. Also, invest in easy-to-use options to avoid time waste and complications. Tech tools used by other industry players are good options to consider, so keep this in mind.

5 Simple Ways You Can Improve Your Operational Efficiency Right Now

/in /by

StrategyDriven Managing Your Business Article |Operational Efficiency|5 Simple Ways You Can Improve Your Operational Efficiency Right NowYou’ve heard this popular phrase more times than you can count: time is money. Of course, time isn’t literally money – but it’s pretty close.

Many managers throw money into marketing when trying to increase profits. While marketing is undoubtedly an essential part of a successful business, if you’re overlooking operational efficiency, you’re going to miss out on a portion of the returns that come from a great marketing campaign.

To improve your operational efficiency, consider these five simple tips that you can implement today.

Improve and increase your analytics tracking

First thing’s first: if you don’t know where your operational efficiency is lacking, you can’t fix it. To improve efficiency, you’ll first need to make sure you’re able to see your data and analytics in real-time.

This means that if you’re still using Excel spreadsheets to track data, it’s time to make an upgrade. There are many different types of analytics software on the market today, including SAS Business Analytics (SAS BA) and Tableau Big Data Analytics.

Take some time to research your options, and invest in a software program that fits your company’s needs and goals.

Increase automation

If your IT and administrative staff are filling their time with tasks that could easily be automated, you’re wasting both their potential and your company’s operational efficiency potential.

Any task that has a repetitive nature can easily be automated. Using your data analytics, pinpoint tasks that are taking up a lot of your employees’ time and automate these. Automation will allow your staff to spend more time on the non-repetitive tasks, which is where they really shine.

Emphasize training

Poorly managed companies don’t just hurt their employees; they hurt themselves too. If you’re not putting your employees first, your business will never flourish as much as it could.

One important way to put your employees first is to make sure they receive substantial training. Don’t just do the bare minimum; make sure they don’t just know how to complete their job duties, but they have the tools they need to excel at them.

Proper training also prevents workplace injuries, thereby keeping your employees at work.

Use load boards

If your business regularly ships supplies or products, you may be able to increase operational efficiency by using a load board. Load boards are similar to a job board in that they are a resource for both shippers looking for carriers, as well as carriers looking for loads.

Load boards are mutually beneficial, as they help shippers quickly find a carrier without spending time calling and emailing. Additionally, carriers benefit by maximizing their earnings by filling their trucks to the maximum load.

Improve cross-department communication

Though your department may be communicating effectively top-down and vice versa, if there are communication issues between departments, your operational efficiency is being sacrificed.

Improving your communication software doesn’t have to be costly; it just has to work for your company’s unique needs. Set up a meeting with departmental heads and come up with a strategy to improve communication between yourselves.

This will save all departments substantial time, which at the end of the day is what operational efficiency is all about.