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Key aspects of business relocation management!!!

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StrategyDriven Managing Your Business Article |Business relocation|Key aspects of business relocation management!!!Moving a business is not a one-day job. It requires a lot of time, planning, and strategy and can only be completed in an organized manner. Hiring movers from Pricing Van Lines is just the best way to handle the relocation process. Charting a successful relocation plan is crucial before the start of the process. One needs to consider all the important aspects of it. if you are looking for the key elements that help you to manage it well then check out this content:

Finances

Relocating a business is not cheap at all. It requires huge money. If you don’t prepare a budget and go for a business relocation plan then the costs will rack up immediately and you might find yourself out of money in no time. So, first of all, you should create a budget and then should be stick with the same. Be sure you don’t just prepare finances for the relocation process but also consider downtime and operating costs at the new place.

Reduced downtime

Higher downtime can impact the productivity of a business at worst. Therefore, creating a timeline is crucial. Create a timeline according to a plan or strategy and then work according to the same. Higher downtime means there is no productivity which will hurt the financial condition of the business. Plan everything to minimize the stoppage of business operations else your business won’t be able to afford the big loss.

Assess all your leasing options

Be sure you are aware of all the commercial lease terms and conditions before signing these. It is recommended you assess all the options and then pick the best one. Most landlords offer good deals for multi-year leases so you should be ready to find a space where you can successfully establish your office for the next few years. This is the time when you should consider things like upsizing or downsizing the space.


Hire a reputable moving company

It is important to hire the best moving organization so that there is low downtime and also you can easily and successfully relocate your equipment and furniture items. Office relocation requires a huge number of items to relocate from tables to chairs, machines to IT equipment, and much more. IT equipment requires special care because of its fragility and no business can afford to lose these. Be sure you took moving quotes from more than two to three companies to reduce the costs and to find out the best organization in your area. Before you hire any organization, you should check out the ratings and reviews on their websites and also at websites such as Yelp, Better Business Bureau, and so on.

Personnel relocation strategies

Employees are the most important asset for any business. They help in smoother operation of any company and all the organizations are required to relocate with them. Employees will be ready to relocate when they get proper compensation and offer for it. Therefore, prepare relocation strategies that assist employees to relocate with ease while considering the needs of not just the employees but also their family members. Also, allow them to have some time to make their home moving easier for them.

Customer base

Customers are most important for any business therefore before relocating, considering how your customers will access you is an important element. These days, companies need to be in access to the customer because there is high competition in the market and customers easily get other options. Remember that in the end, the purpose of any business is to generate more and more profit and this can be done only when you consider your customers as the most important asset.

Stay abreast of changes

Planning for any relocation is very important. It takes enough time. Things will not remain the same and will not work as you have planned therefore being flexible to the changes is very important. You should have a plan B for everything. Be sure you have everything ready for all the uncertainties that the process has.

Wrapping it all up!!!

Managing a company relocation process is not the play of the kids and one should prepare everything in the right manner in advance to tackle the huge and complex process.

How to execute an office relocation project?

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

Start planning as soon as possible

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

Keep your employees updated

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

Search for the right moving company

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

Categorize things to speed up the process

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

Transfer services

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

Moving IT department

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

Important tip: Do relocation during a down period

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

Wrapping it all up!!!

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

Key Costs Of Business Expansion You Need To Be Prepared For

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StrategyDriven Starting Your Business Article |Business Expansion|Key Costs Of Business Expansion You Need To Be Prepared ForExpanding your business is incredibly exciting, but it’s also a huge risk. If you miss the mark and your plans for expansion don’t play out the way that you hoped they would, you could lose the business. Usually, this happens because companies don’t budget for the cost of expanding or they overestimate how much their revenue is going to increase. You can’t take anything for granted and there is always a chance that your revenue will grow much slower than anticipated, which means you need to budget for the cost of expansion and make sure you have enough money to cover it before you get started. If you are expanding your business, these are the big costs that you need to be prepared for.

Increased Staff Costs

If your business is going to grow and expand into new markets, the workload will also increase. Unless you have the right team behind you, you are unlikely to see sustainable growth, which means that you should hire some new people before you do anything else. As you already know, staff costs are one of the biggest business expenses you have to cover, so it’s important that you are able to survive when they increase. Ask yourself how long you can comfortably pay for the salaries of new team members with your current earnings. If it’s not very long, you need to save more money before you start hiring anybody.

Office Relocation Costs

If you take on one or two people, you might be able to fit them in your existing office, if you’re lucky. But if you start hiring a big new team, you’ll need a larger office space, and that gets expensive. Most business owners have considered the increased monthly cost of a bigger office, but they don’t factor in the cost of the move itself. You need to hire removalists to take all of your stuff, you’ll need new furniture to fill the extra space, and then there are added extras like internet and phone installation. Don’t forget that the business will be in shutdown for a few days while you move to the new office, and that costs money in lost revenue.

Market Research Costs

If you are expanding into a new market, researching it is absolutely vital. You won’t be able to create effective marketing campaigns unless you have an in-depth understanding of the market, especially when expanding internationally because different cultures will respond to your marketing efforts in a different way. You can’t afford to cut any corners here, so make sure that you have the money to conduct in-depth research before doing anything else.

Inventory Costs

Hopefully, your expansion will be a success and you will be selling more products, which means more revenue. But don’t forget that there are costs associated with that too because you will need to buy more inventory and pay for storage. Improving your inventory management systems will help you manage these costs, but there will always be an unavoidable increase that you need to be prepared for.

If your business expansion is going to be a success, you need to be prepared for these key costs.

4 Strategies to Scale Your Business

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StrategyDriven Managing Your Business Article |Scale your Business| 4 Strategies to Scale Your BusinessEvery business owner should look for opportunities to scale their company and increase profits. Fortunately, there are various ways to streamline business operations, boost productivity in the workplace, and increase sales and revenues. To help you achieve sustainable business growth, here are four strategies to scale your business:

1. Register with global selling platforms

One of the most effective ways to increase profits is by searching for new sales opportunities overseas. Expanding your business globally will allow you to access a far more diverse market and significantly increase your earning potential. This makes global expansion an extremely appealing business venture for many company owners. Despite this, you should be aware that businesses often face additional barriers when expanding overseas. This may include issues such as cultural differences and foreign regulations. Fortunately, these challenges can be overcome with market research and careful planning. Experts at businesstown.com provide the following advice for companies planning on expanding their business internationally – “learn the local language, research international business principles, and attend domestic trade shows to network and build connections.”

2. Relocate to a new office location

Relocating to a new office location can help you scale your business in several ways. Firstly, a more prestigious location may boost your credibility and help you secure new business. A new office premises may also offer additional space and facilities that will enable you to expand your services and grow your company. If you are planning on relocate your business, then be sure to do your research and choose a commercial property that will meet your business needs. Discuss your moving plans with your employees and maintain communication to avoid unnecessary periods of downtime. You should also consider hiring professional office movers to make your relocation as stress-free as possible and minimize any disruption to your business.

3. Automate business operations

Automating business operations and processes is another simple way to increase productivity and revenue within your company. Many different business tasks can now be automated using technology. This includes employee payroll, marketing campaigns, social media posts, and customer service support. Automating these tasks will provide you with valuable time to focus on developing vital areas of your company. All business owners should take advantage of automation software that can be implemented to streamline company operations and support business growth.

4. Hire sales experts

You must focus on increasing sales if you want to successfully scale your business and boost revenue. If you don’t have the funding to hire a team of salespeople, then you should consider hiring commission-based sales reps to help you expand your business and achieve your sales targets. The main benefit of hiring commission-based salespeople is that they have an incentive to work productively and maximize sales. Make sure you take the time to provide your sales team with quality training and support them until they get accustomed to your business and systems. Keep in mind that investing in your sales team will help you achieve far better results in the long run.

Use the above strategies to help you scale your business and increase profits today!

Relocating Your Business Internationally: A Guide

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StrategyDriven Managing Your Business Article | Relocating Your Business Internationally: A GuideDeciding to relocate your business can come down to a number of factors. Perhaps your service or goods would find more success in a different country. Maybe you’re ready for a new challenge, or a family reason has prompted the move. No matter why you want to move to a new location, there are several considerations you need to keep in mind to ensure it runs smoothly.

The Location

If you’re moving due to a family reason, you will no doubt already have a location in mind. Perhaps your partner or spouse would like to return to their home country. However, if you are relocating to find a new challenge, determining the best place can be tricky. Would your products work better in a hotter climate? Or are they ideal for a country which experiences harsh winters?

Once you’ve chosen the location, you should begin to look for the best place not only for your business to be located but for you and your family also. It’s a challenge to view new homes online, so if you can, try to plan a visit where you can visit a number of properties before choosing one. If you have decided to move to Egypt, for example, Capital Egypt specializes in real estate Egypt and will help you find the ideal property.

Create a New Business Plan

When you began your business, you will have created a business plan. This critical plan will have detailed your idea, the funding you required, the profit you expected to hit in the first year and beyond, and more. However, it’s likely that in a new country, this business plan will not be applicable. That’s because the market will be different, you’ll face different challenges, and you may even require extra funding to get the business off the ground quickly. For that reason alone, it’s time to create a new plan, one which takes into account the new market.

Research the Market Thoroughly

Following on from the above point, when you are relocating your business to a new country, it’s crucial you research the market you’ll be entering. Who will your target audience be? It may be very different from your current audience, depending on the see economic climate, lifestyles, and more. Your market will also be able to show you if you require further funding once you arrive in the new location, or whether you will be getting more bang for your buck once you move.

The Legalities

The legal structure which you used in your home country may be completely different from your new location. In the UK, should you employ workers, you will need to adhere to the Health and Safety at Work Act 1974 and the Equal Pay Act 1970, to name a few. In contrast, to carry out any business in Egypt, a foreign investor must either establish an Egyptian subsidiary or a brand, which will typically be a joint stock company or a limited liability company. Ensure you are aware of your legal status before making the move.