Attending business school is a useful path to go down for those who want a change in career but are not sure in what direction. It can help students develop a range of transferable skills used in many different business sectors.
Why go to business school?
There are many reasons why people choose to go to business school. Some feel stuck in their current career, aware that they need a change but are not sure what route to take. Some are concerned that they lack the necessary skills or qualifications for their dream career. And others might want to start their own business, but do not know where to start, or are too nervous to take the risk.
No matter what the reason, business school provides training in a variety of skills and a level of understanding that can help those who wish to seek the start a career or progress to a new one.
Here’s a rundown of the important skills that can be learned at business school.
Impression management
The truism that ‘You only have one chance to make a first impression’ can make people feel nervous, especially when pitching an idea, meeting new contacts, or even closing a deal. Being able to manage the impression that you leave on people is not only a critical skill in business but also an excellent life skill.
An impression has to line up with the intended goal for the engagement, and easy apply to business schools help teach students to manage these impressions, and how to alter them according to their desired outcome. One of the most common types of impression management that businesses undertake is the presentation of merchandise. You need to present the very best version of your product to entice people to buy it. Business schools can help you develop this skill.
Time management
Time management is one of the most crucial skills for business, as it enables much more to be accomplished in a shorter amount of time thereby improving efficiency. Then time can be better spent on new projects and activities that add value.
Business schools advocate an interesting approach to time management. Generally, they do not focus on prioritizing and managing time like most suggestions but instead teach the benefits of multiplying time instead. In this approach, entrepreneurs and business owners create the illusion of multiplying time by doing things today that make tomorrow better. In effect, they are adding in the criteria of significance to the usual ones of urgency and importance. Learning how to do this in business school is paramount to success, and also avoiding burnout.
Communication skills
Communication is vital for day-to-day life, and is much more than just speaking. Communication is about getting an idea, thought or information across in a way that another person understands, which is why it is regarded as such a crucial skill.
It is extremely difficult to teach how to communicate effectively and there are many aspects to think about, such as body language, tone of voice and eye contact, to name a few. Business schools provide plenty of practice, so these skills become second nature.
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Building a business from scratch is a challenging and lengthy process. Many professionals prefer to achieve their entrepreneurial dreams by purchasing an existing business. Perhaps you’ve been considering this venture and are wondering how to take the first steps? To help you get started on your journey, take a look at these five key considerations when buying a business.
1. Determine your needs
Before you start looking for businesses to purchase, it’s important to determine your needs. Your criteria will likely include several different factors:
Size: Are you looking to purchase a small, large, or mid-sized business? Large businesses may appear more attractive (profit wise). Small businesses are usually easier to manage.
Location: Which location are you looking to buy in? Remember that the location will have a direct impact on the company finances.
Industry: Which industry are you looking to purchase in? It’s wise to work with professionals who deal with buying and selling within your chosen industry specifically. For example, BSF specializes in the purchase and sale of funeral home businesses.
2. Prepaid expenses
Usually, prepaid expenses will not be included as part of the purchase price. You’ll need to separately determine what these expenses are. Failing to gain the correct info about prepaid expenses could severely affect your budget. You’ll want your budget to be air-tight from the get-go, so it’s essential to factor in all costs.
3. Assess growth potential
When you are considering buying a business, you will need to assess its potential for growth. You can do this by completing market research and by closely studying the future profit projections. When you’re liasing with the sellers, it’s important to establish the reason for the sale. Determine any problems which you may encounter when attempting to grow this business in the current market.
4. Due diligence
Due diligence is one of the most important aspects of any business sale. The process involves a full investigation of the legal and financial aspects of the company. Typical areas of investigation include real estate, employees, contracts, and finances. You should not enter into a contract until a trained lawyer has completed your due diligence process. The business in question will likely use a data room so that both parties can access the documents that they need. At this stage, you can draft a letter of intent; this letter should state the potential agreement. The letter of intent is not a contract, and the contract should not be signed until the due diligence process is complete.
5. Hire a business broker
Perhaps you’re having trouble finding a business that meets your needs? In this case, it can be useful to use a business broker. A broker will help you to pre-screen businesses, and negotiate deals. You’ll need to exchange plenty of data throughout the process, and it can be useful to have professional support.
Buying a business is a huge decision, and so no aspect of the procedure should be rushed. With the right team of professionals behind you, the decision-making process is far easier.
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Contractor accounts can be just as complicated as any other kind. There will be incoming money as well as outgoings, and there may even be subcontractors to pay. A tax return accountant will be able to organize all of this into a coherent tax return. You will know it is time to complete a return when you receive a form.
What Happens If You Make A Mistake?
Mistakes can easily be made on a self-assessment tax return if you are not used to completing one. Contractor accounts can be made up of many different elements, and it could be that something is missed out. Something that is easy to rectify – and notice – is if the address on your return is wrong. If you have moved, you should let the government know immediately so that they can update their records. If you don’t, you should let them know once you realize there is an error on the form.
Other mistakes may be harder to identify. If you do realize something is wrong, the government need to know straight away. Otherwise, you could be penalized and if the government believe you used the wrong figures on purpose, you can even get a criminal conviction.
Checking and re-checking your tax return before you send it off is essential. Or, if you are worried that you might make a mistake (and it does happen easily), engage an accountant to complete the return for you. Many people leave their tax returns until the last minute because filling it in is a hard task, and a laborious one too. But getting in touch with a contractor accountant will make the work much quicker and easier, and will prevent you from getting a fine or worse. It makes sense to hire an expert to get the job done, leaving you with much less worry. You would hire experts for other aspects of the business, so why not this one? This is especially important if you have gone through a year of change, for example, if you are in the process of acquiring a competitor or you have a second income coming from a different source.
Is It Possible To Avoid Penalties?
If you miss the deadline for sending in your self-assessment tax return, you will generally be fined. However, if you have a ‘reasonable excuse’ for being late, you may be exempt if it was entirely out of your control. Hiring an accountant should mean you never have to have this problem, but if you do your excuse must be made as soon as possible. Examples of reasonable excuses could include documents being lost due to a fire or a flood. Equally, if documents are stolen and you are unable to replace them, this may also count. If you suffered from a life-threatening illness and you had to stay in hospital and where therefore unable to complete your tax return, this will usually also count. So too does the death of a partner just before the filing date (although you may be asked to show that you had started preparations to complete the return before it happened).
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The medical field is one of the most stable industries. With a career in the fast-paced medical field, you can earn a great living and make a difference in the world. There are many jobs to choose from so you can find one that suits your preferences and allows you to turn your dreams into reality. Here are four possible jobs in the medical field.
Nurse
As a nurse, you can choose several different career paths. You can work in a hospital setting as a surgical nurse or a caregiver. Some nurses choose to work in doctors’ offices, either with pediatricians, primary care physicians or specialists. Others opt to find jobs in nursing homes or hospice facilities. You can even pursue a career as a chief nursing officer. One benefit of pursuing a nursing degree is there are different programs available. Depending upon your individual needs, you can choose online or traditional degree options.
Anesthetist
An anesthetist is responsible for sedating patients when they undergo surgery. Although it requires a few years of study to earn this degree, you can make a good living as an anesthetist. You may have to work on a rotating schedule if you choose to work in an emergency surgery position, but if a stable work schedule is important to you, you can elect to work in an outpatient facility. This job comes with a great deal of responsibility as you will have to monitor sedated patients to ensure their vitals remain stable throughout the surgery.
Physician Assistant
If you want to be a doctor but aren’t quite sure about devoting so much time to school, becoming a physician assistant could be the right choice for you. You will have to work under a doctor’s privileges, but you can see patients by yourself and diagnose health problems. You can prescribe treatments as necessary. Since hospitals do not typically hire physician assistants, you can plan on having a stable work schedule in a doctor’s office so you have plenty of time to spend with your family. If you want to focus on a specific area of medicine, you can elect to work with a specialist.
Surgeon
Becoming a surgeon is the most extensive path in the medical field. You must first complete medical school and then complete several years in a surgical residency program in a teaching hospital. During the program, you will have the chance to work with different surgical specialties so you can choose which path you want to pursue. After passing an extensive exam at the end of your residency, you’ll complete a year as a surgical fellow before becoming a full-fledged attending surgeon. Although it requires an extensive amount of schooling, surgeons earn a great living and can often set their own schedules depending upon their specialties.
Because the medical field continues to grow, many people want to pursue careers in the industry. There are numerous job paths you can follow if you don’t want to become a doctor. These four career options are all valid so consider choosing one of them.
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For some employers, outsourcing is a bad word! It’s considered to be something that reduces costs because things are going wrong and savings are a must. The thing is, outsourcing is so much more than that. Outsourcing helps your business to improve productivity and bring better profits to your business over time.
You can pretty much outsource anything in your business, and if it enhanced employee safety, all the better. You can look at https://employeradvantage.com/workplace-safety/ for information about how to keep people as safe as possible. With the right outsourcing help, you can do so much more with your business and take it to the next level. With this in mind, here are four things you can outsource today.
Marketing. It’s a big piece of the business puzzle, and sometimes it requires more than one person or one team in your business to work it. You need experts, and those experts don’t have to be on the payroll. You can hire people in on a project by project basis and have the experts holding your team together to get through it. You may also have a need for more specialised SEO and marketing services, and outsourcing those services is a must.
Call Answering Services. How many calls does your business get in a week? Sometimes, the volume of calls that you get can disrupt your business massively, and you need to do something about that. Contacting a call answering service will make a huge difference to the way that you run your business as you will have the time to do it all! With someone else answering the calls, you won’t be bogged down with busywork. Handing important calls is a must, but you can hire someone to do it for you and be more productive in other areas of your business.
Finance & Payroll. You may choose to hire an expert to pay your employees or manage your invoices, and it would be a smart choice for your business. You need to keep up with the changing and complex tax laws, and you can only do that if you have an expert in finance working with you. When you outsource your finances, you are trusting someone who knows what they are doing to look after your business properly. You will be impressed by how much an expert can save your business when your finances are managed properly.
IT. The tech world is changing constantly, and you need someone who is keeping up with these changes to work with you. They can ensure that you have the right software, and that your software is updated as often as it needs to be. You can invest in Cloud IT services, too, and that will go a long way toward better workplace safety and security. Your IT strategy won’t always be the same, and so having the right individual there to help will be the best option for your business to be a success.
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Business Programs
Important Skills That Can Be Learned at Business School
/in Professional Development/by StrategyDrivenWhy go to business school?
There are many reasons why people choose to go to business school. Some feel stuck in their current career, aware that they need a change but are not sure what route to take. Some are concerned that they lack the necessary skills or qualifications for their dream career. And others might want to start their own business, but do not know where to start, or are too nervous to take the risk.
No matter what the reason, business school provides training in a variety of skills and a level of understanding that can help those who wish to seek the start a career or progress to a new one.
Here’s a rundown of the important skills that can be learned at business school.
Impression management
The truism that ‘You only have one chance to make a first impression’ can make people feel nervous, especially when pitching an idea, meeting new contacts, or even closing a deal. Being able to manage the impression that you leave on people is not only a critical skill in business but also an excellent life skill.
An impression has to line up with the intended goal for the engagement, and easy apply to business schools help teach students to manage these impressions, and how to alter them according to their desired outcome. One of the most common types of impression management that businesses undertake is the presentation of merchandise. You need to present the very best version of your product to entice people to buy it. Business schools can help you develop this skill.
Time management
Time management is one of the most crucial skills for business, as it enables much more to be accomplished in a shorter amount of time thereby improving efficiency. Then time can be better spent on new projects and activities that add value.
Business schools advocate an interesting approach to time management. Generally, they do not focus on prioritizing and managing time like most suggestions but instead teach the benefits of multiplying time instead. In this approach, entrepreneurs and business owners create the illusion of multiplying time by doing things today that make tomorrow better. In effect, they are adding in the criteria of significance to the usual ones of urgency and importance. Learning how to do this in business school is paramount to success, and also avoiding burnout.
Communication skills
Communication is vital for day-to-day life, and is much more than just speaking. Communication is about getting an idea, thought or information across in a way that another person understands, which is why it is regarded as such a crucial skill.
It is extremely difficult to teach how to communicate effectively and there are many aspects to think about, such as body language, tone of voice and eye contact, to name a few. Business schools provide plenty of practice, so these skills become second nature.
5 Key Considerations When Buying A Business
/in Starting Your Business/by StrategyDrivenBuilding a business from scratch is a challenging and lengthy process. Many professionals prefer to achieve their entrepreneurial dreams by purchasing an existing business. Perhaps you’ve been considering this venture and are wondering how to take the first steps? To help you get started on your journey, take a look at these five key considerations when buying a business.
1. Determine your needs
Before you start looking for businesses to purchase, it’s important to determine your needs. Your criteria will likely include several different factors:
2. Prepaid expenses
Usually, prepaid expenses will not be included as part of the purchase price. You’ll need to separately determine what these expenses are. Failing to gain the correct info about prepaid expenses could severely affect your budget. You’ll want your budget to be air-tight from the get-go, so it’s essential to factor in all costs.
3. Assess growth potential
When you are considering buying a business, you will need to assess its potential for growth. You can do this by completing market research and by closely studying the future profit projections. When you’re liasing with the sellers, it’s important to establish the reason for the sale. Determine any problems which you may encounter when attempting to grow this business in the current market.
4. Due diligence
Due diligence is one of the most important aspects of any business sale. The process involves a full investigation of the legal and financial aspects of the company. Typical areas of investigation include real estate, employees, contracts, and finances. You should not enter into a contract until a trained lawyer has completed your due diligence process. The business in question will likely use a data room so that both parties can access the documents that they need. At this stage, you can draft a letter of intent; this letter should state the potential agreement. The letter of intent is not a contract, and the contract should not be signed until the due diligence process is complete.
5. Hire a business broker
Perhaps you’re having trouble finding a business that meets your needs? In this case, it can be useful to use a business broker. A broker will help you to pre-screen businesses, and negotiate deals. You’ll need to exchange plenty of data throughout the process, and it can be useful to have professional support.
Buying a business is a huge decision, and so no aspect of the procedure should be rushed. With the right team of professionals behind you, the decision-making process is far easier.
What Happens If You Make A Mistake On Your Tax Return?
/in Managing Your Finances/by StrategyDrivenContractor accounts can be just as complicated as any other kind. There will be incoming money as well as outgoings, and there may even be subcontractors to pay. A tax return accountant will be able to organize all of this into a coherent tax return. You will know it is time to complete a return when you receive a form.
What Happens If You Make A Mistake?
Mistakes can easily be made on a self-assessment tax return if you are not used to completing one. Contractor accounts can be made up of many different elements, and it could be that something is missed out. Something that is easy to rectify – and notice – is if the address on your return is wrong. If you have moved, you should let the government know immediately so that they can update their records. If you don’t, you should let them know once you realize there is an error on the form.
Other mistakes may be harder to identify. If you do realize something is wrong, the government need to know straight away. Otherwise, you could be penalized and if the government believe you used the wrong figures on purpose, you can even get a criminal conviction.
Checking and re-checking your tax return before you send it off is essential. Or, if you are worried that you might make a mistake (and it does happen easily), engage an accountant to complete the return for you. Many people leave their tax returns until the last minute because filling it in is a hard task, and a laborious one too. But getting in touch with a contractor accountant will make the work much quicker and easier, and will prevent you from getting a fine or worse. It makes sense to hire an expert to get the job done, leaving you with much less worry. You would hire experts for other aspects of the business, so why not this one? This is especially important if you have gone through a year of change, for example, if you are in the process of acquiring a competitor or you have a second income coming from a different source.
Is It Possible To Avoid Penalties?
If you miss the deadline for sending in your self-assessment tax return, you will generally be fined. However, if you have a ‘reasonable excuse’ for being late, you may be exempt if it was entirely out of your control. Hiring an accountant should mean you never have to have this problem, but if you do your excuse must be made as soon as possible. Examples of reasonable excuses could include documents being lost due to a fire or a flood. Equally, if documents are stolen and you are unable to replace them, this may also count. If you suffered from a life-threatening illness and you had to stay in hospital and where therefore unable to complete your tax return, this will usually also count. So too does the death of a partner just before the filing date (although you may be asked to show that you had started preparations to complete the return before it happened).
4 Career Options in the Medical Field
/in Professional Development/by StrategyDrivenNurse
As a nurse, you can choose several different career paths. You can work in a hospital setting as a surgical nurse or a caregiver. Some nurses choose to work in doctors’ offices, either with pediatricians, primary care physicians or specialists. Others opt to find jobs in nursing homes or hospice facilities. You can even pursue a career as a chief nursing officer. One benefit of pursuing a nursing degree is there are different programs available. Depending upon your individual needs, you can choose online or traditional degree options.
Anesthetist
An anesthetist is responsible for sedating patients when they undergo surgery. Although it requires a few years of study to earn this degree, you can make a good living as an anesthetist. You may have to work on a rotating schedule if you choose to work in an emergency surgery position, but if a stable work schedule is important to you, you can elect to work in an outpatient facility. This job comes with a great deal of responsibility as you will have to monitor sedated patients to ensure their vitals remain stable throughout the surgery.
Physician Assistant
If you want to be a doctor but aren’t quite sure about devoting so much time to school, becoming a physician assistant could be the right choice for you. You will have to work under a doctor’s privileges, but you can see patients by yourself and diagnose health problems. You can prescribe treatments as necessary. Since hospitals do not typically hire physician assistants, you can plan on having a stable work schedule in a doctor’s office so you have plenty of time to spend with your family. If you want to focus on a specific area of medicine, you can elect to work with a specialist.
Surgeon
Becoming a surgeon is the most extensive path in the medical field. You must first complete medical school and then complete several years in a surgical residency program in a teaching hospital. During the program, you will have the chance to work with different surgical specialties so you can choose which path you want to pursue. After passing an extensive exam at the end of your residency, you’ll complete a year as a surgical fellow before becoming a full-fledged attending surgeon. Although it requires an extensive amount of schooling, surgeons earn a great living and can often set their own schedules depending upon their specialties.
Because the medical field continues to grow, many people want to pursue careers in the industry. There are numerous job paths you can follow if you don’t want to become a doctor. These four career options are all valid so consider choosing one of them.
Four Things Your Business Should Outsource Now
/in Managing Your Business/by StrategyDrivenYou can pretty much outsource anything in your business, and if it enhanced employee safety, all the better. You can look at https://employeradvantage.com/workplace-safety/ for information about how to keep people as safe as possible. With the right outsourcing help, you can do so much more with your business and take it to the next level. With this in mind, here are four things you can outsource today.