Posts

Money Management Tips Every Business Should Consider

/in /by

StrategyDriven Budget Management ArticleRunning a business is something that takes grit and resilience. This is because you’re likely to face many hiccups along the way as well as challenges as most businesses do. However, if you make a conscious effort to ensure you’re continuously learning, taking in new information, and keeping up with industry trends, you should find that your business continues to grow. Of the many key aspects of your business, finances are one of the most important. In light of this, you should continuously look for ways to ensure that your business finances are well managed. On that note, you’re going to find some key money management tips every business should consider below.

Look for Discounts

Bargaining and looking for discounts is something that can be done, even when running a business. For this reason, when looking for ways to manage money and resources in your business, you should consider where you can get reasonable discounts. You could, for instance, speak to your vendors and see if you can get a discount, especially if you’ve been a loyal customer. You can also try checking other areas such as your internet provider, phone bill, and insurance providers as well. The goal should be to save as much as you can as it all adds up at the end of the day.

Keep Track of Expenses

Another way that you can effectively manage money in your business, is to keep track of your expenses. This may seem obvious, but it can become easy to lose track of your expenses and begin spending outside of your budget. Some tips for keeping track of your business expenses include developing a bookkeeping system, setting up a payroll system, and determining your tax obligations. In addition to this, you should also carry out audits on a regular basis and ensure your finance team is effectively carrying out their job. As the saying goes that every penny counts, it’s imperative that you know where your money is going. When tracking expenses, you should also ensure that they are within your overall budget.

Periodically Review Expenditure

After tracking your expenses, the next logical thing to do would be to ensure everything adds up. While doing so, you might notice that there are unnecessary expenses eating out of your budget. You should, therefore, be realistic and see if there happen to be any expenses that can be completely eliminated or reduced. This could mean reducing the amount you spend on buying office snacks or seeing if you can get a cheaper alternative. If you find you’re going through a rough patch, it could also mean reducing the amount you pay yourself some months. To cover unforeseen expenses, you could find a loan with good or bad credit to help you get by that month. The idea should be to get rid of expenses you don’t need so that you free up your money and have more disposable cash to work with.

Save

One of the most important things to do when managing money as a business is save. This is where budgeting comes into play as saving is almost impossible without budgeting. You should begin by looking at your cash flow and determine how much you can actually afford to save. As with any time you’re saving money, you should pay yourself before spending anything. In addition, reducing your expenses as mentioned above means that you have a lot more left over to save and reinvest in other aspects of your business.

Hire a Professional

If you don’t have one already, hiring a CFO or accountant is a good idea if you need help managing your money as a business. They typically have the expertise needed to keep you on track and ensure you meet your financial goals. Seeing as tracking your business expenses can be tedious, they can take on this task and let you know if they identify any areas of concern such as with your cash flow. You could also explore the option of hiring a freelancer or contracting with a local provider instead if you’re trying to cut costs or can’t afford a full-time employee.

Money management tends to have similar fundamentals whether you’re trying to apply it in a business or your personal life. It is, therefore, key that you adopt positive habits when it comes to money and use the many tools and software available to aid the process. Hopefully, after reading the tips above you’ve learned a few more money management tips every business should consider.

What to Look for in a Coworking Space

/in , /by

Coworking spaces are becoming much more popular. There’s at least one coworking office in most large towns and cities, and some companies offer their members the use of their offices all over the world. There are fantastic. They give homeworkers a chance to work in a positive and energetic environment that’s full of creative spark. They are a great way to make connections that could be useful to your business, friends that can help you combat the loneliness of working from home and experts that can help you with areas of your business that you might not be as confident with. Research shows that people generally get more done in a coworking space than they would at home or in an office alone, and many people find that these kinds of shared working environments bring out the best in them, make them happier, more creative and more productive. If you find the right space, it’s certainly worth the membership fee. Here’s a look at what you need to look for when seeking out a coworking space that’s right for you.

StrategyDriven Talent Management Article
 
Access

Think about when you like to work. We don’t all enjoy 9-5 hours, some of us work best early in the morning whereas others like to burn the candle late into the night. Working at home means that you can do this. So, this is an essential consideration of your coworking space. Will you be able to use it when you are at your most productive?

Location

The location of your space is one of the most important considerations. Some memberships, like Level Office Coworking Space, allow you to use any of their sites all over the country. You can often even access a coworking space while you are traveling, even if you leave the country. This is fantastic. It means that freelancers are able to work wherever they are and work to pay for their travels as they go.

But, it’s fair to say that the majority of us spend most our time at home. One of the key benefits of working from home is not having the stress or cost of a commute, so you certainly don’t want to add one to your life. If the coworking space that you are looking at is too far away from home, you won’t use it. Look for somewhere that you can get to easily and you are much more likely to spend time there.

Facilities

A vital draw of a coworking space is the community it offers you. An area with excellent facilities often creates a more passionate and engaged community. If there are just a few desks and a printer, people will just work. They won’t chat, they won’t make connections, and they won’t feel creative. Look for somewhere that offers more. Ideally, it should provide things like a coffee machine and a relaxation space which encourage users to connect with each other and relax. Plenty of color on the walls and a chilled out atmosphere is also a must if you want a work area that inspires your creativity.

Amazon Affiliate Marketing Business Review To Help Your Company Thrive

/in /by

Starting a business is not an easy feat. When you’re still new in the business arena, you have to carefully think about what to offer to your customers and promote them in marketing mediums which are convenient for them. This will demand a lot of decision-making and resources from you. You also have to think about what your competitors are doing in order to level out the playing field. You have to constantly look at their strategies, determine which works and doesn’t, and apply it on your own business. If you want your business to thrive, you should also consider using other mediums to help you achieve that goal. There are different tools which can help your business in different ways – and Amazon Local Associates Program is just one.

StrategyDriven Entrepreneurship ArticleAmazon Local Associates Program 101: What Is It?

Amazon can be considered as one of the leaders when it comes to online selling. For years, Amazon has offered different products which can satisfy an individual’s needs and wants. It also has unique services such as Amazon Tickets, Amazon Prime, and Amazon Music Unlimited. Collectively, all of these things became the reason why Amazon has grown throughout the years. And if you’re still a neophyte or would want to improve your business, Amazon’s Local Associate Program might be the solution you need. This is a program which allows business owners to sell Amazon products through their own website. Once the customer clicks the link from the website, the business earns a commission. This means that the more customers using the link, the more income for the business.

Amazon Local Associates Program 101: How Can It Help Businesses Thrive?

Regardless of the type of business you have right now, chances are, there are already competitors who have offered the same set of products and services. Most often than not, your competitors already operated in the industry for years before you even started your business. Diving into business with this status quo will make it hard for you to create a name or brand in the eyes of your potential customers. Good thing, because Amazon Local Associates Program can help you through the following:

1. Your business can earn more: Money is one of the most critical resources in any kind of business. No matter who your target audience is or what kind of products you’re offering, you need money so the business can operate every day. And if you’re starting a business, you might not have the abundance of this resource yet. Amazon Local Associates Program will let you earn more by promoting their products. As an Amazon business, you have to post Amazon’s product on your website or blog and earn 10% of the purchase once a customer buys from you. This might not seem like a lot, but if you put time and effort in promoting products, you’ll surely earn more over time. You can use Entrepreneur Journal Review as your resource to know how you can promote products better online.

2. You’ll engage with customers: When you’ll promote products from Amazon, you have to use the internet in order to drive in customers and profit. After all, everyone is on the internet, right? You can write blogs, improve your website and even take advantage of your social media accounts. This can become an excellent avenue to engage with your customers. You can give your recommendations about a product and earn at the same time. And if customers don’t end up buying from you, their feedback can go a long way for your business to improve. You’ll have an idea on what business’ processes actually work and doesn’t in the eyes of the customers.

StrategyDriven Entrepreneurship Article3. You can offer variety to your customers: No single customer would remain loyal to a business if the latter offers the same set of products every single time – customers need variety, too. And with Amazon’s products on the website, you’ll never have a problem with variety. You can get almost any product that your customers need because of Amazon’s wide selection. You can promote products which are similar to your business niche, making it easy for you to reach your target audience.

4. You’re assisted by Amazon: Once your business starts operating, there are many things on your plate. You have to think about the packaging and delivery of the products, customer service and returns. If your business receives a lot of order in a day, the workload can be overwhelming which can result to compromised service. When you sign up for the Amazon Local Associates Program, you’ll be assisted by Amazon. This means that they will be working on your business’ behalf behind the scenes. They will take care of the delivery, customer service, and returns, among others. All you have to do is haul in customers for sales.

5. You can gradually create a brand: Your brand is what makes you stand out from the competition. If you have one, it’ll be easy for customers to distinguish your business from others. Creating a brand might be a tedious process, but it can be done using Amazon Local Associates Program. Since you can select which products to promote, you can pick one which is based on your expertise. You can easily write content or review the product since it’s something that’s up your alley. This can gradually increase the value of your brand because customers will trust the products you’ve recommended. It won’t be long before customers will associate you as a trustworthy business and choose you from the competition.

6. You can learn a lot: The maxim that states “experience is the best teacher” is true when it comes to businesses. Whatever you experience – whether good or bad – can become your learning curve for improvement. If you’re still in the first months of your business operations, Amazon Local Associates Program can help you gain experience which you can use in your business. You can learn how to entice customers, properly communicate with them and determine what they really want from a business. Sure, you might learn these from books or other businessmen, but nothing still compares to first-hand experiences.

7. You can keep your customers even when you’re not carrying a product: Customers are the bread and butter of every business. Without them, your business will be non-existent. However, if your business is service-based, not producing your own product can become the reason for them to turn away. For example, if your business is focused on teaching children, not producing books might influence your customers to choose your competitors over you. Of course, customers would always want convenience and complete offerings. If your business doesn’t have any products, you can use those which are from Amazon’s catalogue. This is one benefit you can give from Amazon’s Local Associate Program which can help you keep customers.

Beginnings Are Tough

The beginnings are always the hardest part of the process. This is where you’ll have to figure out how to do things the right way. And when it comes to businesses, beginnings are usually very risky. If you use approaches or strategies which doesn’t guarantee positive results, you’ll end up wasting time, money and resources – things which are crucial in every business. If you want to jumpstart your business or you want it to thrive long-term, make use of Amazon Local Associates Program. It’ll require work from you, but since you’re doing almost everything with Amazon, things can become easier. Amazon can surely help your business thrive and succeed.

About the Author

StrategyDriven Contributor, Kristen PearsonKristen Pearson is a journalist and business owner who enjoys writing on the side. She’s written for website such as Journal Review and enjoys getting into detail about different aspects of business. In her spare time, she enjoys jogging.

Essential Ingredients Every Business Needs

/in /by

StrategyDriven Entrepreneurship Article
 
Unfortunately, you can’t simply launch a company and expect business to be booming overnight. There’s a framework you need to put in place, and essential ingredients you’ll want to include that will help you succeed and get through the rough times.

It’s not a wise idea to move forward blindly without specifics in place from how you’re going to get from one point to the next. Always be forward-thinking and coming up with ideas for how you can be improving as you go. Include the following key requirements you need to experience long-term stability, and you’ll be quickly heading down the right path.

A Solid Business Model & Objectives

If you want to make money with your venture, then you’re going to need to have a sound business model in place with a list of critical objectives you’re going to tackle. Pay attention to what sources of revenue you have available to you and if you feel you’re competitively priced or not as you work on your roadmap. Set goals for what you’re going to work toward in the coming years and include specifics for how you’ll achieve each one. This is an instance where you do want to obsess over the details and make sure you’re putting yourselves on a solid course to victory for the long-term.

Policies, Processes & Procedures

Every business needs to have policies, processes, and procedures in place to function optimally. It’s not a wise idea to launch your company and simply hope for the best without documenting and communicating out your rules and expectations. You’ll need this type of structure in place as you begin to hire on more staff and expand your offerings. Efficiency and speed will become even more important as you grow and the only way to do this is by coming up with a framework of best practices. There will be less confusion on a daily basis and more communication occurring between departments and individuals when everyone’s on the same page.

Technology Solutions

Doing your work manually isn’t a good solution for the future because it slows you down and provides more opportunity for errors to occur. You can read more about what your options are for how technology can improve your business such as tracking time and individual projects. This way you’ll know exactly who’s in the office when you’ll save yourself money and can quickly take note of who’s working on what projects. Adopting more technology solutions will allow your employees to be more productive and you’ll be happier because you’ll be achieving your goals at a quicker rate. Bring more of what you’re doing online, and you’ll likely notice that your business runs a lot more seamlessly and there are fewer complications.

Talented Employees

Every successful business needs to have skilled and talented employees who are ready to work hard each day. Hire wisely by taking the time to come up with specific job descriptions, read through resumes and participate in the interviewing process. Be very careful and mindful of who you hire and bring onboard because it will cost you even more money to keep replacing people. Your company will progress nicely when you can depend on the staff who you’ve hired to complete their tasks correctly the first time around and not have to constantly be babysitting and correcting mistakes. Hold regular company-wide meetings and assign your employees individual coaches to ensure everyone feels valued and connected.

Strong Leadership

No business ever made it too far without having a strong team of leaders and management in place to guide employees and execute on the company’s objectives. Surround yourself with good people who have experience working in high-level positions and understand and can help you achieve your vision. Your company needs direction and people who are committed to building a bright future filled with a lot of positive outcomes. This will be especially important in difficult times or when your staff isn’t feeling very motivated. Your business will require strong leaders who will step up in the face of adversity and never give up or quit.

Paying Customers

Your business won’t survive too long without a long list of loyal and paying customers who you can depend on in good times and in bad. It’s essential you pay attention to your clients and offer them consistent and outstanding customer service. Reach out and seek feedback and listen to their viewpoints so you can make any necessary changes going forward. Focus on delivering quality products or services that are innovative and meet the needs of your customers. Engage with them on social media and be available to answer their questions or talk through any concerns. What will help you out the most is continuously testing out new products or services with small groups of people before you go to market with them, so you can guarantee they’re a hit.

A Plan for Problems

You should never expect all to go smoothly and as planned when you’re running a business. There will always be roadblocks, obstacles and unexpected happenings that you’ll need to deal with and manage. Think ahead by planning for problems and determining what it is that could possibly go wrong, so you’re prepared for these hiccups when they do occur. Always spend within your means and have resources available to you should anything get steered in another direction, and you need to act fast. Focus on problem-solving your way out of sticky situations instead of flying off the handle or giving in to these inevitable issues.

Conclusion

These are just a few of the essential ingredients every business needs to truly thrive in a competitive and cutthroat landscape. Work on achieving success in these areas, and you’ll be a lot better off as you continue to develop your company. What will help you to accomplish this goal is if you make a list and then prioritize what you believe is most important that you get done first and continue to work your way through the remaining items.

Becoming a Notary Public

/in /by

StrategyDriven Entrepreneurship ArticleWhile the specific laws vary from state to state, there are a few basic steps you can expect to encounter on your journey to becoming a Notary Public. Whether you are required to obtain your Notary certification as part of your job or you are interested in starting your own Notary signing business, a Notary certification gives you the authority to sign mortgage documents, marriage certificates, trust documents and perform many other civil duties. If you have ever wondered how to become a notary, here is an outline of important steps.

In order to become a Notary, you should be at least 18 years of age with no criminal background. Some states require background checks, and most states charge a set fee on top of exam costs, application fees, supply costs and background screening charges in order to become a Notary. Most states require that people holding the Notary Public title always have certificates, stamping seals and a detailed journal on hand for documenting jobs for your protection.

Your state’s secretary office will often have all of the information pertinent to courses, specialized training and exam information on becoming a Notary. Most standard notary courses only take about three to six hours to complete, and exams are often scheduled immediately following the completion of the course; not all states administer exams.

Most states also require that you obtain a Notary bond. Surety bond amounts vary, but this type of insurance protects both you and the consumers if you should happen to make a mistake that damages someone. It takes about seven to nine weeks to become a Notary, depending on your state’s laws. Certification and exam requirements also vary from state to state.

A standard notary term is four years, but many states have five or ten-year terms. Once you are deemed a Notary Public, you can generally notarize most documents that come across your desk. Some legal documents may be restricted, but most legal requests for notarization that are accompanied by acceptable forms of identification may be notarized by you once you are certified. You provide an essential civil service as a Notary Public.