When it comes to your business, you push it as hard as possible to do well and make a profit. You’re working early mornings and late nights and the days seem to run into each other without stopping. While this is wonderful, and you can see the dollar signs rolling as the profits come in, the better you are the more in demand you are – and this means more work to keep up with.
Outsourcing pieces of your business to others to lighten the load from you isn’t a bad idea to combat that extra workload. Taking the right approach to outsourcing your marketing team or your invoicing to an accounting service is important. You need to be able to trust the people you’re handing a piece of your business to, and so it’s important that you know the advantages of outsourcing and why you should do it.
Advantages of Outsourcing
Outsourcing is going to help you to combat the growth of your business. You want to be able to manage and control your business growth so that it goes in the way you hope it goes. You want to ensure that the time is right for your outsourcing, and if you know that it’s going to lower your costs and regain your focus properly, you’re going to do very well. On top of this, you could use outsourcing to develop your talent. A knowledgeable workforce is going to boost your bottom line and this will lead to even further growth. Now that you know the advantages of outsourcing with your business, let’s look at a few ways you could do it!
Know what to outsource. Before you do anything, you need to know what you should outsource. Look at your business functions and choose where you are weakest. If your social media marketing could use a boost, you know that choosing the right agency is the way to go. The same can be said for your IT, accounting and even your administrative tasks. You can check with your employees and your profit bottom line to know whether you need to outsource a function in your business.
Time it right. Sometimes, you can jump the gun and outsource too soon. You need to look at your long and short term needs and if you need help in the short term to help the long-term goals of yours, you’re going to do well. Once you have done this, communicate with your employees so that you can time this exactly right.
Cut ties gracefully. If you start outsourcing with an external company, you are more than within your right to cancel any agreements you have with them. No one enjoys firing a company, but you have to find the right provider to work with.
Communicate with your team. If you plan to outsource at all, you should consider talking to your team first. They will be able to tell you what they need and you can then decide whether to go ahead or to go another way. Communication is key and this will help you to get what you need for your business.
https://www.strategydriven.com/wp-content/uploads/women-shaking-hands.jpeg7501125StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2021-01-09 11:00:392021-01-09 18:40:01Want To Outsource? Here’s How You Could Do It!
These days, more businesses across a huge assortment of industries are embracing the process of 3D printing. This is because of the many different advantages that it possesses. With that being said, in this blog post, we are going to explore all of the benefits in further depth to help you get a better understanding.
3D printing is rapid
There is only one place to begin when it comes to the benefits that are associated with 3D printing, and this is the fact that it is rapid. Rapid prototyping provides you with the ability to design, test, and manufactured a customized part in a small amount of time. Plus, if required, you can modify the design without the speed of the manufacturing process being adversely impacted.
Great flexibility
Not only does 3D printing deliver rapid speed, but it is also incredibly flexible as well. You can create virtually anything with a 3D printer. On the flip side, if you were to use a traditional manufacturing process, every new part of every change within a part design would demand a new jig, die, mould, or tool to be manufactured for the creation of the new part.
Sustainability
In addition to the points so far, with 3D printing, you do not need to outsource as many parts for outsourcing. This means that the environmental impact is lower because fewer things are being sent around the world and there is not any requirement for an energy-consuming factory to be maintained.
Reduce risk
By switching to 3D printing, you are also going to be able to lower the risk involved with the manufacturing process as well. This is because product designers are going to be able to verify product prototypes before they begin making significant investments in manufacturing that can be disastrous.
High levels of quality
Aside from the benefits that have been discussed so far, you can also expect high levels of quality when it comes to 3D printing. Poor designs can arise through traditional approaches to manufacturing. However, the way that 3D printing works mean that the assembly is a step-by-step process, which ensures the design is improved and that you benefit from an exceptional level of quality.
You can reduce expenses with 3D printing
In addition to the suggestions that have been discussed so far, 3D printing is also great for those who are looking to lower their costs when it comes to production. 3D printing is deemed one of the most cost-efficient manufacturing options. Injection moulding and CNC machining, which are more traditional approaches, demand a big number of costly machines, and the labour expenses tend to be a lot higher as well. Therefore, you can expect to save a considerable amount of money by making the switch to 3D printing.
So there you have it: an insight into some of the different benefits that are associated with 3D printing. We hope that this has helped you to get a better understanding of why 3D printing is so beneficial and how you can make the most of it in your business.
https://www.strategydriven.com/wp-content/uploads/word-image-52.png6671000StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-12-19 13:00:572020-12-19 13:11:16What Are The Benefits Of 3D Printing?
You are reading this article because you are probably intrigued about what a dispensary SOP is, or you are trying to find a way to improve your current model. The only thing that matters is that you are taking the necessary initiative to get things done and ensure the future success of your business needs. If you are a beginner who isn’t quite certain about the world of dispensary SOP’s, then it is best to start by establishing its meaning. A dispensary SOP is a shortened name for Dispensary Standard Operating Procedures PDF which is the most significant document that is unique to each business because it sets out specific outlines, procedures, and regulations particularly in the cannabis industry. Even though it can be a complex document to formulate, it is the most effective document that you need to ensure that your business’ resources are managed adequately.
What Is A SOP?
A well-thought-out and professional dispensary SOP will benefit you with acquiring your license but it is the main building block towards your success in dispensary marketing. A strong dispensary marketing strategy will elevate your cannabis business and ensure that it ranks highly because the dispensary SOP provides a step by step manual that guarantees an understanding of the core areas of the business that require standard operating procedures. This is why it is important to establish a dispensary SOP that your employees and management can understand.
What To Cover
When establishing a dispensary SOP for a cannabis business, you ought to have a detailed assessment of how your business will be able to cover these areas.
Security
The potential for theft and other related illegal activities is high when dealing with large amounts of money. The types of security measures need to be considered alongside the state requirements.
Quality Assurance
Your dispensary SOP needs to detail how it will maneuver environmental, sanitation, and inspection factors. Adequate testing has to be conducted by any of the licensed cannabis testing facilities.
Packaging and Labeling
States have different laws regulating how cannabis products should be packaged and labeled, particularly where products could be exposed to the youth. Safeguarding measures are necessary for children.
Inventory Control
This is also known as “track and trace” in some states. Strict inventory management is a necessity to outline the procedures of handling and storage.
Storage
It is generally separated into the storing of records and cannabis products. Licenses and any required documents need to be stored in a secure place that will enable authorities to see them when requested.
Cash Handling
This needs to be addressed to avoid any potential fraud allegations. Strict practices are necessary for a dispensary SOP.
Making Your Business Known
Once you have compiled an efficient dispensary SOP that covers every area of your business including your founding values, vision, and mission the next thing that you need to concern yourself with is to devise a quality and innovative dispensary marketing strategy. The industry is highly competitive and with more countries relaxing their strict laws around the sale and purchase of cannabis it will become more saturated. This is why it is important to come up with a dispensary marketing plan that can adapt to the current digital age. The advertising laws in this industry are still strict and it makes it a challenge to advertise cannabis freely. Moreover, cannabis is still classified as a Class 1 drug, as a result, dispensary marketing is a major challenge. If your adverts are not being removed from advertising channels, they are too costly for most businesses to afford. As a result of these problems, most businesses have opted to use practical and less costly methods to improve their dispensary marketing challenges – direct mail, mass SMS, and email. However, mass SMS seems to be the most effective option of these three methods of advertising.
Word of Advice
If you still feel like you don’t quite understand how dispensary SOP documents work or feel as though you might struggle coming up with a unique dispensary marketing campaign, then you can enlist the services of a company that will assist you to come up with great ideas to improve your business to be world-class standard and compete with industry giants.
https://www.strategydriven.com/wp-content/uploads/pexels-freestocksorg-165228.jpg8531280Nathan Iveshttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngNathan Ives2020-12-14 20:30:372020-12-14 20:48:25How to Grow Your Dispensary Business
International expansion can be a big step for any business, no matter its size. It can bring plenty of benefits to a company – a whole new array of potential customers and the opportunity to operate in a less saturated market. However, it does come with risks – expanding is expensive and you’ll be operating in unfamiliar territory. What can you do to prepare for international expansion?
Market Research
Before you begin to think about expanding overseas, you need to understand the new area, and who you’re selling to. Market research is a vital tool for success. You need to have a firm knowledge of the country’s culture, how your customers think, and if your brand would succeed there. To get a firm understanding of the region you’re aiming to expand in, you need to spend some time there. For example, if you’re hoping to operate in the States, you can stay in a serviced apartment in New York to help guide your research and develop your understanding of the market.
Understand Your Capabilities
You need to assess whether international expansion is the right step for your business at this current time. You need to ensure the company is strong and secure in its current market. Venturing abroad won’t help if the business is already struggling. How are your finances? Review your budget and make sure you can afford to invest in international expansion. Expanding your business should help its success, not further hinder its funds. You also need to assess your company’s infrastructure and whether it would work abroad.
Delivering Goods
When it comes to shipping packages you need to understand a variety of global regulations. These can differ from country to country, so you need to ensure your packages are labelled properly depending on when they’re being shipped. Plus, take into account shipping times as well. You want to ensure effective delivery service and customer satisfaction in whichever country you’re operating in. Research courier systems and see which ones could benefit your business the most.
Right Team
Take due diligence with selecting your team members. Whether you’re intending on opening an office abroad or hiring remote workers – spend plenty of time considering who is right for the role. Hiring within the international market comes with pros and cons. You have got access to people who know the culture but potentially lack experience and vice-versa. There is a solution to this. Research countries that have a lot of professionals within your line of work, then you can hire new staff with ease. Your team will have a drastic impact on future success so don’t rush your decisions.
International expansion offers incredible opportunities for a growing business, but it is not a decision that should be taken lightly. Do everything you can to ensure your company is prepared. Have you had any experience with international expansion in the past?
https://www.strategydriven.com/wp-content/uploads/pexels-pixabay-269633.jpg8471280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-12-11 11:00:062020-12-11 21:45:32How to Prepare Your Business for International Expansion
As we draw closer to the festive season, business owners need to be wary of the holiday rush. Just because the world has been in lockdown for so long, doesn’t mean that you can take your foot off the gas. All market indicators are showing that we will, in fact, see the same old surge around the festive season, despite most customers not shopping in-person. Online shopping dictates everything, and for the most part, has done so for the better part of a decade. But, with this comes new and old challenges, as every business needs to be sharp and ready in inventory management, sales, marketing, customer service, and invoices. This is how you can keep your business up and running, without backlogs and hiccups during the holiday rush.
Conduct a health risk assessment
In a risk assessment, you’re not just calculating the health and safety risks, but also the threats to your business. Customers and staff are equally as important, don’t forget this! As the number of cases rises in the Coronavirus, the threat of spreading occurring in your business rises too. This is why whether you’re still working in the office or working from home, you should take the same precautions or have precautions in place. Here’s what you need to do safety-wise.
Determine whether any activities you have to do, could promote transmission? Do you work in the office alongside employees? How can everyone avoid getting the virus? Wear masks, have hand sanitizer bottles on the desks, and keep airflow strong in the office.
Your workers in warehouses and or production plants need to take similar precautions. They should also be wearing protective gloves if they can, and making sure that they are aware of tight spaces, gathering and a lack of airflow.
Determine how likely you can control a spread if it occurs. Do you have a track and trace system you can use? Can you give employees sick pay, to keep them at home? Can you ask them to work from home if they do strike positive for the virus?
Analyze the competition
Alongside your own desires as a business, you need to study and know your competition. For example, you should be keeping tabs on your rivals, seeing what kind of marketing ploys they have, what kind of sales, discounts and deals they are offering, as well as what kind of products they are going to be selling alongside yours. In the latter, you need to know the pricing, quality and branding efficacy, etc.
Some rivals will be pitching to your consumer base, comparing your prices and your products to their own, openly in ads. You must be wary of this. Many retail companies will literally show a product you sell and compare the price of the same or similar product they sell, in an ad. How do you fight back against this? You must be ready for your rivals to do this beforehand!
Increase your storage capacity
The only thing worse than being caught out by a rival, is catching yourself out. This occurs during the festive season more than any other time of year. Small businesses don’t plan ahead concerning their capacity for inventory management. What if you need to have a large storage capacity because sales are much higher than anticipated? You can carry on the Christmas rush over to New Year’s and beyond if you are wise.
That’s why you should consider building one of these custom industrial sheds. These metal structures can withstand any weather, they provide ample room for lots of stock storage, as well as being very easy and quick to erect. Such an industrial shed can be the perfect way to expand your business and reach. If you have export needs as well as domestic sales, but you need more storage space, this is the kind of affordable option entrepreneurs and small business owners should try.
Segment your base
Every single company in the world has a consumer base. These are people that love your brand, they keep coming back, they buy products you make and they will hold your brand in very high regard among your competitors. But you must know who they are, what kinds of individual groups there are and how to market to them.
Your base will have the following types of groups.
Veterans. These are consumers who have been with you for years and always check to see if you sell something they want, every other week or month.
Loyal consumers. These are people who will put you in their top 5 companies to buy from when they are looking for products in the categories you sell.
The new and enthused. The types of customers that have just found out about and are wondering what on earth took them so long. They will be excited to see what you have to offer as opposed to the companies they have always bought from.
Get ready for rules changes
We live in a Covid-19 world now, and the government can change the rules at any moment. Rather than wait for this to happen, you should have plans in place that give you leeway no matter what kind of changes occur.
This again, requires a risk assessment, because you need to know what your options are. Evaluate the following.
Tunnel sales. If your country goes into lockdown, can you still make export sales? Can you still make sales to other business clients?
Plan your most drastic sales and discount offers. If worst comes to worst and the market begins to freeze up again, consider what kind of sales you can offer to break even at the least and make a little profit at the most.
Work with governments. Engage with the representatives and respond to calls and emails. Accept invitations for consultancies and express your concerns to the elected officials.
The festive season is always a rush and hectic time for consumers as well as businesses. While you still have time, make as many positive changes as you can. With these measures, you should be able to proudly call your business Christmas-proof.
https://www.strategydriven.com/wp-content/uploads/word-image-50.png640960StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-11-27 20:00:342020-11-27 19:56:45How Your Business Can Become Christmas-Proof
If you feel as though your business is stagnating, then you will know how frustrating this can be. You may be able to fix the issue though, if you are able to pinpoint the cause properly....
Running a home business is challenging enough as it is, but when you have to ship physical products around the world from your own home, it can further complicate things and create a surprising number of problems....
While there are several appealing benefits of upgrading your business's office space, you may be dreading the high costs of renovating and investing in new office equipment....
Pitching to banks and investors to get funding for a new business is always daunting, but it’s particularly scary if you’ve already had a failed business and declared bankruptcy in the past....
Franchise accounting is similar to accounting for any other type of business, although there are a few extra steps. Let’s take a look at exactly what a franchise is and how they are run and managed....
While some small businesses might be staunch about avoiding the digital realm, to the point of being labeled a Luddite, there is a lot to be gained by entering digital spaces....
StrategyDriven Expert of the Week
Dave Esler, co-author of The Pursuit of Something Better, is a Principal at Esler Kruger Associates, a consulting firm that for more than 20 years has helped organizations and their leaders become more effective. Dave has a corporate background in communications and human resources from Metropolitan Life and Nortel Networks and several years of consulting experience. He is the author of many articles on a variety of business topics.
Greer Trucking was started in 1960 by Jerry Greer, an Army veteran and long-time trucking industry mainstay. After working multiple roles across several trucking firms, Jerry took the entrepreneurial leap of faith and ventured out on his own to start his namesake company; and has never looked back.
Over the years, Jerry grew the organization from a sole proprietorship with one truck to a well-respected and reliable national industry service provider with multiple partners and employees.
Today Greer Trucking continues to serve our clients with the same determined spirit Jerry possessed when he started the firm. After over 50 years in business our mission remains unchanged. Our customers, many who have been with us for several decades, are the lifeblood of Greer Trucking and we will always strive to provide them the best air freight and logistics services in the industry.
If you are in the process of expanding your logistics or air freight operations or looking for a firm to service your needs, we would love the opportunity to earn your business. As we like to say to our customers- current and future, when you’re considering a company for your trucking and logistics needs, Go with Greer!
Well-run internal processes enable business leaders to focus on culture and employees, market changes and innovations, as well as envisioning the company’s future…
While often appearing mundane and bothersome, internal or back-office processes keep a company moving. Their health and efficiency is as important to the enterprise as acquiring new customers and fending off marketplace competitors. Indeed, these very processes may be the key to achieving success in both of these areas… they were for Walmart, Dell, Southwest Airlines and many others.
Businesses grind to a halt without sound operational practices. Effective and efficient core business functions including strategic and tactical planning, innovation, operations/production, procurement and partnerships, customer service, and information technology contribute significantly to overall success. (So do finance, human resources, and marketing and sales as covered in other StrategyDriven forums.)
Each core business function is itself a complex topic, commonly served by whole divisions or departments within large companies. For the entrepreneur and small/mid-sized enterprise, these functions require no less attention but are typically not surrounded by the weighty policies and programs necessitated by massive scale.
StrategyDriven and members of our Service Providers Network stand ready to support entrepreneurs whatever their circumstances and to the degree they desire. From online advice to direct consultation and the provision of services, we are an entrepreneur’s most trusted partner.
Focus of the Managing Your Business Forum
The StrategyDriven Managing Your Business Forum presents the sound operational practices managing core business functions such as strategic and tactical planning, innovation, operations/production, procurement and partnerships, customer service, and information technology. Note that insights associated with financial functions can be found in the Managing Your Finances Forum, those associated with the human resources function within the Managing Your People Forum, and those associated with the marketing and sales function within the Online Marketing and Website Development Forum.
Articles
Total Access StrategyDriven Insights Library Subscribers can access all of the articles listed below. Sample Library Subscribers can access those articles annotated as [SL]
Not yet a StrategyDriven Insights Library Subscriber?Click here to learn more.
Featured StrategyDriven Expert Contributor Articles
Headquartered in Acworth, Georgia, StrategyDriven provides affordable business consultations in Atlanta, the Southeast, throughout the United States, and around the World. Our world class advisors are recognized leaders in their chosen fields.
To learn more about StrategyDriven’s team of seasoned business executive contributors, click here.
Kim Ades
Kim Ades is President of Frame of Mind Coaching and one of North America’s foremost experts on performance through thought management.
Christopher Conner
Christopher Conner, President ofFranchise Marketing Systems has been in the franchise industry since 2002 working with several hundred different franchise systems in management, franchise sales and franchise development work.
Jeffrey Gitomer
Jeffrey Gitomer is the New York Times bestselling author of Little Red Book of Selling, the best-selling sales book of all time.
Nathan Ives
Nathan Ives is a renown Fortune 500 business advisor and author of Discovering Business Gold, used to identify over $200 million in operational cost savings.
Hank Moore
Hank Moore is a renown business advisor, speaker, and author of The Business Tree, revealing his trademarked approach to growing, strengthening, and evolving business.
https://www.strategydriven.com/wp-content/uploads/tyler-franta-iusJ25iYu1c-unsplash-scaled.jpg17102560StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-03-22 15:21:312020-03-22 17:17:45StrategyDriven Managing Your Business Forum
The StrategyDriven Entrepreneur is a uniquely talented individual, motivated to move beyond the confines of corporate America to make an indelible impact on the world around them. These entrepreneurs accept the risks and challenges involved with building an enterprise; believing in themselves, their team, and their ideas.
Starting and running an entrepreneurial enterprise presents a unique set of uncertainties and challenges. As no one person can know all there is to know about your products and/or services; the marketplace; marketing, sales, and delivery of your product and/or services; your business operations, finances, and talent acquisition and management; and the regulatory environment; as well as your resource limitations and other constraints, you need direct sources of actionable insight to assist you in following the road to success and avoiding the paths of failure.
StrategyDriven recognized the need to provide actionable information tailored to small and mid-sized business entrepreneurs to help them successfully navigate the challenges of such enterprises. Within the several Entrepreneurship forums (described to the right), we’ve amassed the proven, real-world tested, actionable insights needed to support your ongoing success from business startup to exit.
In addition to our vast online library, the StrategyDriven Entrepreneurial Insights newsletter delivers new thought leadership to you every week via email – available at your desk or while on the go – supporting you wherever and whenever you need. Subscribing to the StrategyDriven Entrepreneurial Insights is FREE… so why not do it now and gain access to the actionable information needed to take your business to the next level?
StrategyDriven Entrepreneurial Insights Sign-up
Entrepreneurship Forums
Materials in the Entrepreneurship forums provide insights and practical actions small and mid-sized business ventures and their leaders can take to expand sales, heighten productivity, and accelerate growth within the following topical areas:
Entrepreneurship: Personal qualities, characteristics, considerations, and actions embodied by the successful entrepreneur
Starting Your Business: Considerations, planning, and actions needed to minimize startup risk and accelerate the new business launch
Managing Your Business: Programmatic enhancements to optimize business operations post startup; ensuring long-term success
Managing Your People: Programs and practices enhancing overall workforce productivity, creativity, and engagement as well as how to acquire and retain top talent
Managing Your Finances: Practices to ensure near and long-term financial stability, capital optimization, and overall company financial viability
Online Marketing and Website Development: Methods to brand, market, and sell products and services leveraging the power of the internet via social media, search engines, and the company’s website
Headquartered in Acworth, Georgia, StrategyDriven provides affordable business consultations in Atlanta, the Southeast, throughout the United States, and around the World. Our world class advisors are recognized leaders in their chosen fields.
To learn more about StrategyDriven’s team of seasoned business executive contributors, click here.
Kim Ades
Kim Ades is President of Frame of Mind Coaching and one of North America’s foremost experts on performance through thought management.
Christopher Conner
Christopher Conner, President ofFranchise Marketing Systems has been in the franchise industry since 2002 working with several hundred different franchise systems in management, franchise sales and franchise development work.
Jeffrey Gitomer
Jeffrey Gitomer is the New York Times bestselling author of Little Red Book of Selling, the best-selling sales book of all time.
Nathan Ives
Nathan Ives is a renown Fortune 500 business advisor and author of Discovering Business Gold, used to identify over $200 million in operational cost savings.
Hank Moore
Hank Moore is a renown business advisor, speaker, and author of The Business Tree, revealing his trademarked approach to growing, strengthening, and evolving business.