How to Manage International Expansion

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StrategyDriven Managing Your Business Article | How to Manage International ExpansionOverseas expansion represents a hugely valuable opportunity for any business, regardless of what industry they are in. Managing international expansion is a very exciting job prospect that also comes with a great deal of responsibility. This article has been created to help you understand how you can easily and effectively manage your business’ international expansion.

Create a Clearly Defined Timeline

The first step to successfully managing international expansion is to create a clearly defined timeline. With so much to consider and different factors to think about, a clearly defined timeline is key. You should outline everything that needs to be done and who is responsible for which jobs.

In your international expansion timeline, you should try to add in as many short-term goals as possible. Try to make these goals as clear and quantitively accessible as possible. Doing this will mean that you are able to measure goals as you go, which will allow you to evaluate progress and restructure if necessary.

Use Translation Management Software

Smartling describes how translation management software is key to successful international market expansion. When you are looking to expand to international markets, it is very likely that you are going to be operating in languages and cultures that and are outside of your own. If this is the case, you should be using translation management and localization software to ensure you are able to effectively communicate with your new target audience.

Outline All Rules and Regulations

When you are expanding into new markets you will likely have to consider a number of rules and regulations including, employment laws, taxation and product restrictions. Before you begin any active stage of expanding your business into a new market you need to outline all rules and regulations that might apply. Sorting these considerations out early will help you to ensure that you are not risking the future of your business by not complying with restrictions.

Use Cloud Computing and Communication Software

When you are managing an international expansion it is likely that you will work with a range of different people, possibly in a number of different countries. You should utilize the right software to ensure that the quality of communications is not limited by geographical locations.

You should use cloud computing solutions so that everybody who is working on the project is able to access all the necessary information, no matter where they are. You should also upload all relevant planning information, like your timeline and contact details of everyone involved in the project.

Using communication software can be a vital step for managers looking to maintain a high quality of communication. Communications software as the platform can facilitate a range of different types of communication, from direct message to group video meetings.

Project management software is another useful resource that managers might choose to utilize during your expansion process. Project management software can help you to stay on top and up to date with any progress that is being made in real-time, reducing the chances of unexpected delays.

How To Take Your Business From ‘Small Fry’ To ‘Big Fish’

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Right now your business is small. You love what you’re doing and where you’re going but you’re starting to wonder how you can progress your business success more quickly. Being a small business is great but if you’re someone who aspires to go from ‘small fry’ to ‘big fish’ then you’re probably wondering what it takes to give your business the boost it needs.

Growing and developing a business isn’t always simple or straightforward, as there is a lot to think about, from budgets to planning. You have to think about a wide number of things if you’re serious about expanding your business. It’s stressful growing a business, that’s a given, but if you get your approach right, it’s worth taking the time and putting in the effort.

StrategyDriven Managing Your Business Article | How To Take Your Business From ‘Small Fry’ To ‘Big Fish’

So, what steps should you take to start growing your business? Below is a guide to some of the ins and outs of achieving successful business growth.

Create an action plan

First things first, if you want to give your business a boost and actually see results, you need to create an action plan. Your plan of action should lay out the approach that you are going to take to growing your business.

It’s best to set large targets with a number of small goals leading to each one – this approach makes achieving growth seem more doable. You don’t want to set overly ambitious targets as this can make them seem impossibly difficult to reach. Instead, aim to keep goals achievable – remember, you can always exceed them.

Speak to a consultant

If you feel like you could benefit from some professional advice about any area of your business and how to utilise that to see growth, consider booking an appointment with a specialist consultant. Whether that’s a general business consultant or with a consultant from a more specialised field, such as speaking to a finance consultant.

If you’re struggling with a certain area of your business, such as your brand’s marketing, for instance, then you might want to consider expert marketing consultation. You might find that taking the time to speak with a specialist gives you the insight and knowledge that you need to give your business the boost it requires to meet your goals.

Work smarter, not harder

Be a smart worker, not a harder worker. Yes, growing a business requires a lot of hard work, but that doesn’t mean that you can’t be smart about how you achieve business growth. Don’t be afraid to utilise smart tech as a means to an end for your business. Believe it or not, you can use smart tech to make managing your business processes simpler and easier – you can simplify and automate your entire operation.

There you have it, a simple guide to how you can make achieving business growth simpler, easier and more doable. Take note of the tips and ideas above, utilise them for your business and you should be able to make growing your business into a ‘big fish’ a little easier to achieve.

A Quick Guide To Kanban

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StrategyDriven Managing Your Business Article |Kanban|A Quick Guide To KanbanKanban is a popular workflow management framework, that will allow you to more effectively manage and improve the services that you offer. This method follows four simple principles.

Visualize Workflow

To improve your services with Kanban, you need to start by mapping out your current process. This will show you where you can start to make improvements.

Limit Work In Progress

Kanban aims to move work efficiently, with minimal waste and lag. This means you will have to limit the amount of work to keep things to a manageable level. This helps you to avoid bottlenecks and other delays.

Focus On Flow

Once you have the first two Kanban principles in place in your business, your workflow can flow a lot more freely. This makes everything easier. Once you’ve got the first two ticked off, you can concentrate on anything that interrupts the flow of work, so you can find some more places to improve your processes.

Continuous Improvement

Kanban involves ongoing work and improvement, the project is never truly finished. To get it right, you will need to constantly monitor and analyse your work and processes so you can continue to find ways to improve. Customer demand, resources, and the market are all always changing, so if you’re going to keep up, you need to keep on working on improving.

To learn about Kanban and see how it might be able to work for your business, whether you work in manufacturing, professional services, or just about anything else, check out the infographic below.


Infographic designed by: Kanban Principles

Common Business Laws And How A Business Lawyer Can Help

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StrategyDriven Managing Your Business Article |Business Law|Common Business Laws And How A Business Lawyer Can HelpEvery business needs two professionals right from the very start. One is an accountant, for apparent reasons. And the other one is a business lawyer.

Now, you need an accountant for bookkeeping and filing taxes. But why an attorney?

Simply put, a business attorney handles no single task. Indeed, a business attorney will be responsible for providing advice at every step, from zoning compliance to hiring, recruiting, and even finalizing a deal.

Besides, a business attorney will also represent your business in case of any litigation or lawsuits.

In short, a business attorney is more like an advisor for your business, regardless of its size.

Are you still confused?

Read more about the standard laws that your attorney would help you navigate through.

Intellectual Property

Intellectual properties are exclusive entities that belong to a business or an individual. For instance, a trade name or trademark, a logo, or a patented product design, are all intellectual properties.

For businesses, these properties are crucial to mark their brand identity in the market.

And therefore, it is essential to protect these identities against theft or infringement.

To your surprise, there are numerous disputes about intellectual properties. And most of them involve litigation.

Now, a reasonable attorney would assist you in starting the lawsuit. They would also be helping you gather all the evidence and investigation needed against the party in breach.

In short, they’ll protect your business and brand identity. And would also help recover monetary or other losses.

Breach of Contract

There are usually several types of contracts that your business may be involved in. For example, there could be a vendor agreement or an employment contract, to name the least.

Typically, contracts are signed off to maintain a binding agreement between two parties. And they are crucial for protecting your business in a variety of situations.

To be precise, a contract would also entail specific dos and don’ts for both parties involved in the agreement. And any breach of the contract by any party can easily trigger a dispute.

Besides, several laws govern business contracts. So, having an attorney who understands business law and can help you stay clear of contractual disputes can help your business stay ahead of troubles. And not to mention, they would also help with the litigation process against the party at fault for breaching the contract.

Moreover, the lawyer would also play defence if the other party files a lawsuit for breach of contract.

So, it’s a two-way street, and your business will surely be on the safer side in both cases.

Mediation Outside the Courts

It is noteworthy that not all business or corporate litigations end with a courtroom trial. Instead, to your surprise, most business disputes are usually settled outside the court.

Now, you may think that there are not many legalities involved if the dispute is settled outside the court.

Allow us to correct you here.

Even in out-of-court settlements, the other party can breach the mutual agreement. And it may further escalate the issue into other disputes.

Having an experienced business attorney can prevent further escalation and also help with the mediation process.

Your business attorney would help with the agreement’s drafting and negotiate the compensations to be paid or received.

In short, a business attorney will also help your business stay healthy if any dispute does not reach the courts.

Disputes with Employees

As a business owner, you may use different contracts or establish a code of conduct for your employees. For example, you may oblige your employees to maintain an NDA to protect the company’s crucial data and information.

Likewise, you may also use a minimum work term contract with your employee.

And as such, there may arise situations when the contract may need to be terminated early. For instance, if an employee needs to quit the job for any valid reason.

In such situations, it would be beneficial for your business to establish a rule book—the dos and don’ts of terminating contracts before the term ends.

And that’s precisely what your business attorney would help you with.

Wait, did we mention NDAs? Any breach of an NDA would also implicate legal action against the employee. And you may very well need to file a litigation procedure against the employee.

Disputes with employees may arise because of other reasons too. For example, workplace discrimination, harassment, and wrongful termination are also common reasons for disputes with employees.

Disputes between Partners

If you own a business in partnership with someone, then skipping on a business lawyer is not an option.

Consider this; partnership firms usually operate on shared ideas and profits for both partners. Likewise, both partners also share the workload and responsibilities.

And to your notice, all these shared profits and roles are documented.

Partners can quickly end up in disputes concerning any change in operations or standard procedures. It may even be because of differences in perception.

But, there’s one thing for sure: the business would bear the loss amidst all the internal disputes.

And you wouldn’t want that.

So, involving a business lawyer who can intervene and settle disputes can be an easy way out. And perhaps, it would also protect your business from potential losses.

Consumer Disputes

Another possible legal trouble for your business could be product liability lawsuits.

Suppose a customer or a consumer is injured while using your products. In that case, your business is at risk of losing its reputation. And not to forget the monetary expenses paid in compensation to the injured.

Nonetheless, consumer disputes are pretty standard, especially when you are a manufacturer or deal in products and not services.

A business lawyer would investigate and establish your defence’s facts to protect against both- monetary losses and reputation damage.

Or, the least they can do is cut the compensations that your business would need to pay if found guilty.

The Takeaway

A business lawyer may need to work on more than one aspect of your business. Depending upon the situation and the case at hand, they may also need to perform several tasks.

However, in all their goodness, they will only be assisting and protecting your business to clear through the legal troubles and disputes.

Is Your Store Looking a Little Run-Down? Here Are Some Great Ways To Make It Look New Again

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StrategyDriven Managing Your Business Article |make your store look brand-new again|Is Your Store Looking a Little Run-Down? Here Are Some Great Ways To Make It Look New AgainDepending on how long you’ve had your store open and whoever previously occupied the space, your store could end up looking a little run-down at times. There are a number of reasons for this. For instance, it could be because of general wear and tear, or it could be because your customers aren’t treating your premises with the most respect. Depending on the type of demographic you attract and the type of business you run, your store could go from looking brand-new to run-down in just a few weeks.

So what are some of the best ways to make your store look brand-new again? Here are a couple of great suggestions to get you started.

Revise the floor plan of your store

If you want to make your store look completely new then it’s worth taking a look at the floor plan. You could rearrange a lot of the display furniture to create an entirely different design. You could even throw out old displays and try out some new shelves to make things look a bit different. Your store might even benefit from a more open floor plan where you give your customers more space to browse instead of cramming all of your products into a small space. This can make your customers feel a lot more comfortable in your store and it can be a nice change of pace from what your store currently looks like. This can also make your store much easier to clean and maintain in the future.

Clean up the floors of your store

One of the most common areas of your store that might make it look run-down is the floor. You, your staff, and your customers walk all over the floor every single day, so it makes sense that it’s one area of your store that suffers the most general wear and tear. This is why it helps to invest in floor burnishers and cleaning services to make the floors shine and look brand-new again. You don’t need to do this very often, but it can make a huge difference in the overall appearance of your store. Alternatively, you might find it easier to hire a cleaning service every month.

Change the decor and try some new designs

It’s a great idea to change the decor and utilize a few new designs whenever you can. It doesn’t take a lot of money to change things like the colour of your walls or the paintings that you’re displaying. It’s a great investment to shift around furniture as well as long as it doesn’t reduce seating capacity in your store or restaurant. Try some new things and you’ll be surprised at just how different your store can look.

The idea of preparing your store for a renovation might sound really expensive, but it’s an absolute must if you want to make your store look brand-new again. Even if you have to invest a bit of time and money into it, it’s well worth it for the results.