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Understanding the Role of Technology in Growing Your Business

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StrategyDriven Managing Your Business Article |Growing Your Business|Understanding the Role of Technology in Growing Your BusinessThe world of business is becoming ever more competitive, resulting in business owners scrambling to find ways in which to stand out, streamline operations, and hold onto the best talent. The secret to ticking all of these boxes and optimizing the potential for business growth lies in investing in the right technology. Read on for the details.

Finances

Financial management is arguably the most vital operational aspect of any establishment. Without ensuring that you are making a solid profit and that your staff members are paid on time, the business, as you know it, will quickly cease to exist. So, what type of technology is necessary to ensure that financial administration is properly taken care of from month to month?

The bare minimum is a high-quality accounting and payroll system. Software designers create these systems to fully automate various aspects of financial management, such as paying your employees and putting together reports.

Marketing

A great marketing strategy plays a key role in setting a business up for success. It generates brand awareness, consumer loyalty, and, of course, assists in maximizing conversions to boost that all-important bottom line. The right marketing technology can help a business to reach its full potential. Good examples of marketing software and technology include:

  • Analytics
  • Conversion optimization tools
  • Email marketing software
  • Remarketing software
  • SEO tools

Marketing automation solutions

Considering how diverse the marketing technology offering has become in recent times, it pays to consult with an IT and technology consultant company for advice, like oramca.com, to figure out which solutions are right for your enterprise.

Customer service

Marketing campaigns and customer service work hand in hand when it comes to nurturing the growth of any business. Ultimately, it does not matter how mind-blowing your marketing campaigns are, if your approach to customer service is lacking, your company reputation and turnover will suffer as a result. If your customer service is world-class, but your marketing efforts are falling short, you won’t have any customers to assist or impress in the first place!

From a technology perspective, you cannot go wrong with a CRM (Customer Relationship Management) solution. Most good quality CRM systems allow for effortless lead and contact management, tracking of consumer interactions, quotes management, and email integration.

Human Resources

Your employees are your most valuable resource, hence the reason why it makes the world of difference when you put in extra effort into the hiring process and into keeping your existing staff happy. The best HR technology solutions boast features like employee information management, hiring and recruitment automation, benefits management, time and attendance management, professional development, and more.

Inventory management

It can become challenging to effectively monitor your available stock as your business grows, and product demand gradually increases. Doing so manually can lead to costly errors and disappointed customers. Luckily, inventory management software promises incredible features and benefits that are sure to solve these problems instantly. The great news is that there are different types of customizable software available for enterprises of all types and sizes.

If consistent business growth is the goal, advanced technology is the answer. Do not delay in finding the right solutions for your establishment!

5 Viable Options for Financing Your Small Business

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StrategyDriven Managing Your Finances Article |Financing Your Small Business|5 Viable Options for Financing Your Small BusinessFinancing a small business isn’t always easy, but there are plenty of solutions available, no matter how bad your credit rating is. Before you start looking for finance, however, make sure you have a strong business plan. Lenders will want to see evidence that your busines is viable, even if you don’t need a lot of cash to get the ball rolling. In addition, be prepared to put up some collateral, either your personal assets or shares in the business. Often, loans come with strings attached, not just interest!

In this article, we will look at the best solutions on the table.

Credit Card

When you don’t need a huge amount of capital, easily accessible funding options like credit cards are a useful tool. The great thing about credit cards is that they are flexible, so if you only need a short-term cash injection to buy supplies, a credit card may work for you.

It’s even possible to enjoy a 0% loan if you look around for a good deal. Plenty of credit card companies have 0% introductory offers for new customers but bear in mind your personal credit rating will dictate which offers are available to you.

Bank Loan

Approaching your bank manager for a business loan is another option, but this one takes longer to sort out. Banks don’t typically throw money at customers these days; they were too badly burned in the financial crash of 2009. You’ll have to provide a solid business plan, as well as detailed cash projections outlining how you plan on repaying the money. If everything looks good on paper, you should have no problem qualifying for a business loan.

Specialist Lender

While high street lenders have their place in the finance sector, they don’t tend to work for people with bad credit or niche requirements. For example, if you have CCJs in your credit report or you want to start an online business selling CBD products, mainstream lenders won’t touch you. You’ll need a specialist instead.

Luckily, specialist business models and bad credit doesn’t have to hold your business back. There are lenders who will consider most applications, no matter how off-the-wall, so don’t assume your business idea is doomed if you have a few late payments on your report.

Crowdfunding

Crowdfunding has allowed all manner of businesses to achieve their potential. Thanks to sites like Kickstarter and Indiegogo, startups like Pebble and Oculus have achieved phenomenal success. As long as you have a great pitch and people can see the potential in your business plan, the money will flow your way. In fact, crowdfunding has been so successful in recent years that many small startups have bypassed traditional funding sources altogether.

Make sure you understand the different types of crowdfunding before you create a pitch. They include:

  • Donation-based crowdfunding – ask for money with nothing given in return
  • Reward-based crowdfunding – ask for donations in return for a reward
  • Peer-to-peer crowdfunding – cut out the middleman and borrow money directly from investors
  • Securities-based crowdfunding – investors are given a share in the business in return for cash

Angel Investors

Angel investors are people with a lot of experience and significant capital to spare. They look for embryonic businesses that show a lot of promise. In return for capital, the investor is given a share of the business or the promise of a decent return on their investment.
One advantage of securing funding from an Angel Investor is that you can tap into their experience in the early days of running your business. After all, they have a vested interest in ensuring your venture is a success!

Lastly, don’t dismiss the notion of asking friends and families to contribute to capital if they can afford it. If they say no, consider whether your business idea is worth pursuing.

9 Uses of Dams in Civil Construction

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StrategyDriven Tactical Execution Article|Dams in Civil Construction|9 Uses of Dams in Civil ConstructionCivil engineers design dams and the final product is amazing. Dams are majestic but they also serve many purposes. Here’s a look at what dams are and the structures’ many uses.

What Is A Dam?

Dams are barriers built across a river or stream. Engineers design dams so water pools behind the barrier. Water is collected on the upstream side of the dam and the water is called a reservoir. The other side of the barrier is called downstream. Municipalities who plan to build dams need civil engineering services.

There are many types of dams including embankment dams. These are artificial dams made with a semi-plastic structure and a mix of sand, soil, clay, and rock. Gravity dams are huge and are made of stone and concrete masonry. Earthen dams are made of soil while timber dams are made with wood.

#1 Irrigation

Results of a recent study show half of the world’s large dams were built for irrigation. Moreover, over a billion people around the globe depend on reservoir-generated irrigation. Egypt sits in the middle of the desert and crops have been depleted by droughts. The Aswan High Dam was built to protect farmers by controlling water flowing in the Nile River. An agreement between Egypt and Sudan allows Sudanese farmers to use some of the water.

#2 & #3 Water Supply

Some water from reservoirs is used to supply fresh water for commercial and residential use. Further, dams are often used to control water flow in rivers. Warragamba is an Australian dam used to supply water to millions of people.

#4 Hydropower

Hydropower is popular because it’s environmentally friendly. The U.S. is one of the largest producers of hydropower, followed by Canada. Dams produce up to 12 percent of the U.S. power supply. Brazil’s Itaipu Dam is the world’s largest hydropower dam.

#5 Flood Control

Flood control dams hold floodwater and prevent it from getting to residential areas. They’re usually built in areas where flooding happens regularly. For example, The Tennessee Valley Dams, help to control flood on the lower Mississippi, lower Ohio, and Tennessee Rivers. Floodwaters are either released downstream or stored for future use.

#6 Navigation

Navigation dams are used to allow ships to travel in certain rivers. The dam is designed so the river maintains a depth deep enough for ships to pass. Bonneville Dam, located in Washington State, is a river navigational dam.

#7 Debris Dam

A debris dam is used to store debris from river water. River water may contain sand, rocks, and wood. The water on the dam’s downstream side is clear.

#8 Recreational Purposes

Most dams serve more than one purpose. Indeed, the building of some dams created booming recreational areas. These areas would not exist if the dam hadn’t created the reservoir of water. Some communities built beaches adjacent to the reservoir along with boat landings. The Russell Dam was built on the border of South Carolina and Georgia in the 1970s and 1980s. The dam created Russell Lake which is the center of recreational activity. The dam’s original purpose was flood control and hydropower.

#9 Mine Tailing

Mine tailings are by-products of certain mine operations. Mine tailings disposal is a major environmental concern. The tailings have to be stored permanently and dams are the perfect repository. Previously, mine tailings were dumped in rivers and contaminated the area.
Civil engineers design many types of dams. Most dams serve many purposes including flood control, irrigation, and a source of hydropower. It’s easy to see why some dams are major tourist attractions.

5 Common Finance Mistakes to Avoid for Small Businesses

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StrategyDriven Managing Your Finances Article |finance mistakes|5 Common Finance Mistakes to Avoid for Small BusinessesDid you know 82% of businesses fail due to cash flow and cash management problems?

This can be due to a lack of planning or trying to DIY your finances and making business finance mistakes you cannot overcome. While this is a staggering statistic that may leave you feeling overwhelmed, you can use it to make better financial choices and give your business a fighting chance at success.

If you are a small business owner who wants your business to succeed, here are several financial mistakes you should avoid making.

1. Not Having a Financial Plan

When starting a business, one of the most important things you can do is create a financial plan. This is the part of your business plan details the financial side of your business. Creating a financial plan will help you know if your business idea is viable or not so starting with this plan is essential.

2. Not Following a Budget

If you don’t have a budget or are not following a budget, you can spend more than your business brings in and experience cash flow problems.

Because there are many common business expenses, creating a business budget is as simple as detailing your income sources and determining your fixed, variable, and one-time expenses. Following a budget is the easiest way to take control of your business finances.

3. Getting Into Business Debt With No Repayment Plan

For many small businesses, having debt is necessary to start and run your business. The problem comes when you have several forms of debt with no viable way to repay it. Never take on more debt than is necessary and always have a reasonable, short-term repayment plan.
If you are overwhelmed with debt, search “how does debt relief work” to learn about debt consolidation.

4. Ignoring Your Business Credit Score

Like your personal credit score, your business credit score is an instant indicator to lenders and investors of how well you manage your business finances. Having a good business credit score can be the difference between receiving funding to grow your business and being denied.

It’s important to maintain a great business credit score so you can have another option for funding your business.

5. Combining Your Personal and Business Finances

A common mistake many small business owners make is combining their business and personal accounts. This is dangerous because a misstep with your personal finances can negatively affect your business reputation and vice versa. It can also make your business and personal taxes difficult to figure out.

Separate your business and personal finances from the start to avoid the headaches that are sure to come if you don’t.

Avoid These Finance Mistakes to Have Business Success

These are the common business finance mistakes that result in failure.

Start with a plan and a budget to manage your business finances. Avoid unnecessary debt as this will put your small business in danger of failing.

Don’t ignore your tax planning, keep your personal and business finances separate, and make sure to maintain a good business credit score. Create an emergency saving account so you can stay afloat during difficult times.

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Achieving Balance: How Hormone Health Improves Personal Performance 

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StrategyDriven Practices for Professionals Article |Hormone Health|Achieving Balance: How Hormone Health Improves Personal PerformanceThe human body is made up of numerous hormones that all have essential functions for the body’s overall well-being. It all stems from one straightforward concept. The hormones of the body have quite an element of control in how the human body functions through the control that it has. These hormones act as messengers so that your performance daily is as it should be.

It’s precisely for this reason that today, various health remedies are in place to help address the need for better hormone health. As one strives to keep their entire body in check, their hormone health should also be cared for.

Here’s why:

1. It Controls Overall Organ Functions

By the nature of what hormones are, it has the task of controlling the overall organ functions. Hormones travel all over the body. When they reach and bind to receptors, they lock together. When this process is completed, the hormones transmit the specific messages that they’re responsible for. Henceforth its ability to control the various functions of organs.

This is important so that every day, the human being can perform even the basic tasks that you’re supposed to achieve. With this, healthy hormones can accomplish the following:

  • The growth and development of the body
  • The reproductive processes of the human body
  • The various sexual characteristics that distinguish male from female
  • The ability of the body to store and process energy

Note that while hormones are widespread in the body, these don’t affect the human body in entirety. Every type of hormone has its respective function, depending on which organ or tissue it’s meant to send a message to. Because hormones perform this very important function for the human body, all the more that the clamor for balanced hormones now exists.

This is precisely the reason why it’s very important for individuals to check from time to time, their hormone levels, to ensure that all is well with them. Thankfully, products like HealthConfirm’s Hormone Vitality Complete have made it possible now to have hormone level measurements done at home, through their kits. This advantage gives you no reason not to be this prudent also about regularly checking your hormone levels.

2. It Helps Control How You Feel

Personal performance also includes one’s ability to process emotions or your ability to feel. If hormone health is poor, this also means that the level of hormones is disrupted. When this happens, you’ll also begin to notice changes in your mood. Imbalanced hormones lead to more severe mood swings. This can hinder even your behavior and your overall outlook for the day.

For example, even after a good night’s sleep, you notice that you’re still feeling weak and moody as you wake up. This may not be a problem of lack of rest anymore. It could also be a deeper problem, such as poor hormone health. With a better balance of your hormones, you end up happier.

StrategyDriven Practices for Professionals Article |Hormone Health|Achieving Balance: How Hormone Health Improves Personal Performance3. It Controls The Metabolism Of Your Body

No matter how much you exercise or control your diet, if your metabolism is poor, this could also affect your ability to maintain a healthy weight. One of the functions of healthy hormones is its ability to control your metabolism.

This function stems from the hormones of the thyroid, which were built precisely for that purpose. Along with metabolism, other functions of healthy thyroid hormones include:

  • Regulating weight
  • Managing hair growth
  • Determining energy levels
  • Controlling the inner temperature of the body

4. It Boosts Brain Function

Good hormonal health is also necessary for the brain to function adequately. Remember that the brain doesn’t merely work on its own. It’s reliant on its connections and relationships with the other organs of the body. One of these are the hormones, or the critical messengers so that the brain can process various information, depending on the specific performance that it’s meant to do.

For instance, if your hormone health is poor, specific cognitive issues can arise. When this happens, your overall personal performance is also affected. You may not be able to do the tasks you were accustomed to, not just in your job, but even in other aspects of your life.

Examples of these adverse effects of how poor hormone health affects your brain would include:

  • Having only a short attention span
  • Quickly losing one train of thought
  • Experiencing frequent short and long-term memory gaps
  • Changes in creative coordination ability

You need to think of your brain as an operating system of a computer. To fuel its functions, excellent hormone health is necessary. The healthier your hormones are, the better your overall performance is.

5. It Keeps Your Body Healthy

When your body isn’t healthy, then it’s expected that you wouldn’t be able to function to your full potential. If you notice that you’re also getting sick more frequently, this could mean that your hormones may also be of poor health.

A proper balance of your hormones is needed to keep the immune system healthy. That way, you can better function and perform, as your body’s innate ability to ward off bacteria and viruses is stronger.

Takeaway

It’s normal for the human body to experience instances when certain hormones are depleted or that their overall function is affected. While the effects may sometimes be minor, this isn’t to be taken lightly. After all, good hormone health is needed for the body’s performance to be excellent. The more that you’re able to understand about hormone health after reading through this, the more that you can step forward with ensuring that your body’s overall hormone health is excellent.