Category: Financial Literacy and Money

A Guide To Overcoming Business Relocation Concerns

Two key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Relocating a business is a big deal and in some instances a major undertaking. If you’re careful and map out the steps, it can help make the transition more seamless. The following contributed post discusses this and is entitled, A Guide To Overcoming Business Relocation Concerns.

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Pixabay (CC0 Licence)

When a business first moves into new premises, there is an inevitable period of mild chaos during the adjustment phase. It takes a while to ensure everything is up and running as it should be, with plenty of hiccups and discombobulation along the way. By the time you and your staff have settled into the new location, you’ve likely promised one another that you won’t ever undertake a move again – it’s too stressful, too disruptive, too complicated.

However, time passes. Your business continues to flourish; you continue to innovate; your staff continue to work at their very best – and your business grows as a result. Yet even as you embrace this new phase of your business, the memory of how troublesome your last move was remains; and besides, your premises – that once felt so alien and unusual – now feel like home, and there’s no pressing need to move.

Until… there is

As your business continues to grow, there will inevitably be a moment when you cannot avoid acknowledging the reality of the situation: if your business’ growth is to continue – which, of course, you very much want to happen – you’re going to need more space. Perhaps you need to hire more staff, or want to start to use a different type of machinery, or your existing location is proving restrictive – whatever the reason, it’s clear that you need to move on.

Yet the memories linger

For many entrepreneurs, the moment they realize they can forestall the inevitable no longer is unwelcome – especially if they have previously relocated a business, and know first-hand how very stressful and all-consuming the process will be.

There’s no denying the reality that moving can be crucial, but there’s also no denying that it’s entirely natural to feel a creeping sense of trepidation when contemplating moving your business to new premises. In fact, it could be argued that not feeling a sense of alarm is problematic, and could lead to a sense of over-confidence. Acknowledging the simple reality that moving a business is akin to moving house, only roughly one thousand times more complicated, isn’t weakness: it’s necessary.

Overcoming the hesitation

Pixabay (CC0 Licence)

The realization that a business needs to move can often be simply the first in a sequence of events: the realization, the decision to move, the process of looking for new properties, and then the move itself. A simple, linear progression that occurs in a timely manner.

However, it’s entirely natural if you – like many of your fellow business owners – do not see the realization that you need to move as a fait accompli. Instead, you may hesitate, perhaps even wonder if your judgment is sound, and if moving really is necessary.

It’s important to remember two things at this point of the process: first and foremost, no one is starting a clock. If you need to take time to prepare both the business and yourself for a move, then that’s okay; there’s absolutely no rush. However, the second point you need to keep in mind is that there’s a reason you realized your business needed to move; acknowledge this as fact, and then work on coming to terms with the process rather than seeking to convince yourself that relocation is unnecessary.

How long should you give yourself to accept that moving is an inevitability and move on to the next stage? That depends entirely on your situation. If your business is managing just fine as it is, then there’s no immediate need to push yourself into starting to look for new premises. However, if your business is beginning to show signs of struggling under a lack of capacity – perhaps you’re having to miss out on lucrative contracts, or can’t hire the staff you need to meet demand – then the situation is more time pressured. It’s still important to let yourself come to terms with the need to move, but try to avoid letting yourself put the matter on the back burner.

Addressing the practicalities

When you’re ready to begin planning the move, it’s important to first reflect on your previous experience of relocating a business – even before you begin browsing for new premises.

The reason past reflections should come first is simple: prevention. By learning from the mistakes that you may have made during the last move, you can address these and put plans in place to ensure the same issues do not reoccur. Perhaps you previously struggled to get your machinery up and running; this time around, you’ll want to contact rigging contractors to ensure all goes smoothly this time; or maybe you struggled to establish the right layout for your office, a problem that can be overcome by working with office fit-out specialists who can create a custom plan that will suit your business perfectly from day one in your new location. Whatever issues you experienced the last time you moved, understanding these problems and then seeking solutions is the best way to avoid a rerun of past unpleasant events.

Anticipating new issues

It is incredibly important to learn from the mistakes of your last business move, but it’s also essential to ensure you don’t rely too much on the past. You have to think about the new problems you may experience, and especially those that could not have occurred the last time you moved; maybe you’ve introduced a new service since you last moved, are using a new piece of equipment, or simply have far more members of staff.

Given the above, it’s helpful to list the ways your business has changed since its last move, and then brainstorm the problems you may experience as a result of these new developments. By doing so, you create a complete picture; a blend of past and present that can help to prevent problems occurring as you step into your business’ future.

In conclusion

Pixabay (CC0 Licence)

It’s entirely natural to be nervous about the idea of relocating your business, but the key to overcoming these anxieties is proper planning. By examining your past experiences, and then including considerations related to recent changes, you can create a roadmap that forms the blueprint for a swift, smooth relocation process. From there, you can begin to look for premises, think about notifying the right people and companies, and start working on the practical side of the move itself.

Are You Getting Your Matching Contribution? A Discussion On Saving For Retirement

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“I saw many retirement commercials during my young adult life. They were usually run during sporting events. I wasn’t thinking about my older years at the time, which seemed too far away to imagine.”

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Note. Like my Net Worth piece, the subject matter of this blog post is not new. It has been known for years by those who’ve learned about it in their families, learned about its concepts in business school, or have discovered it on their own. It’s a discussion from my personal perspective which I think is worth visiting. Also, while this is a ‘money’ topic, I’m discussing it from a ‘scholarly’ perspective. I’m not rendering financial advice where I’m telling readers what they should do. In the spirit of the first principle of my blog, Creating Ecosystems of Success, I’m simply introducing a concept and discussing why it’s important for the lay person, so they can make their own life choices.

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A Savings Crisis

At the beginning of this week, a mentor emailed me telling me that April is “Financial Literacy Month”. He asked me if I was writing anything on this subject. I shared with him that I already had something coming out of the pipeline regarding a topic we’d coincidentally discussed at length. He also shared an article with me entitled, There is a savings crisis and many Americans don’t know how to fix it. Here’s how. It serves as the perfect jumping off point for my financial offering for the month of April 2019.

Thinking About Retiring

I saw many retirement commercials during my young adult life. They were usually run during sporting events. I wasn’t thinking about my older years at the time, which seemed too far away to imagine. The commercials I remember the most are those by Dean Witter where, in the black and white film, he states, “We measure success one investor at a time!”

My next thoughts of saving for retirement came courtesy of Robert T. Kiyosaki, author of Rich Dad Poor Dad. I believe it was in his book, Conspiracy of the Rich. In the book he described the “Employee Retirement Income Security Act” (ERISA) enacted by President Richard Nixon. The new law made employees responsible for their own retirement savings, converting most everyone over from ‘Defined Benefit’ (DB) plans (pensions), to ‘Defined Contribution’ (DC) plans. That was during my postdoctoral fellowship and I think I set up a ‘Roth IRA’ at my bank, shortly after reading the book.

Saving in My TSP

It wasn’t until I started working in the federal government that I seriously started thinking about retirement, but it wasn’t due to my own volition. It was due to a friend I was dating at the time. I’ll facetiously say that the relationship didn’t last, but her asking me about whether I started saving in my government “Thrift Savings Plan” (TSP) was a major contribution on her part. She caused me to think about retirement in the relationship context.

I realized that I might be a liability as a partner if I didn’t have my own retirement ‘nest egg’ which in some respects is true. (See my Mother’s Day 2017 blog post to get a feel for the potential dangers of two people settling down when only one has savings and the other one doesn’t.) In terms of relationships, are money and resources everything? No, but they count for a lot and are worth pondering and discussing ahead of time!

Whose Responsibility is Retirement Savings?

At this point I’m going to transition and point out that in the financial world, there are different rules for different people. I first learned this after reading the above-mentioned Robert Kiyosaki’s second book, Cash Flow Quadrant, which discussed the differences between: Employees, Self-Employed Individuals, Business Owners, and finally, Investors. To make a long story short, in addition to having their own unique ‘tax laws’, employees by nature have a ‘working life’, and they must figure out how they’re going to survive once their working life is over. That’s if they’ve thought about it.

Some of my relatives are beneficiaries of the DB plans described above, but they’re “Baby Boomers”. My father is a retired educator who started teaching in the late 1980s. My uncle, a retired firefighter, started his career around that time as well. I could be wrong, but I think that most municipal workers such as the police officers and firefighters receive Defined Benefit pensions. Most teachers now must contribute to a Defined Contribution plan. If I’m wrong, please leave a comment below. What if you’re responsible for your own retirement savings? Read on.

Saving Less Thank Five Percent

“If you’re not saving the maximum amount so that you’re getting the government’s five percent ‘Matching Contribution’, you’re leaving money on the table!” The first person to point this out to me was a counselor at work who was helping me with relationship issues with the above-mentioned lady friend. By the way, this anonymous friend inspired me to write my piece entitled, The difference between being Cheap and Frugal, so she deserves a lot of credit in terms of inspiring some of my content.

I’d told the counselor that she’d called me ‘cheap’ on multiple occasions, a label which hurt me at the time. One of his immediate questions was about whether I was saving into my retirement account to get my government match. When I told him that I was saving less than the five percent, he responded that I wasn’t taking full advantage of what the government was offering me. Also getting the match should’ve been first and foremost in my mind.

Matching Contributions

So, what is a Matching Contribution and why is it important? I’m glad you asked. A Matching Contribution is a dollar amount that your employer matches in relation to what you’re saving in your retirement account. For the federal government, it’s five percent, and it differs from employer to employer. Some don’t match at all. The point is that if you’re not contributing anything, you’re not going to get anything, or maybe the bare minimum. If your employer matches what you’re put in, you’re effectively getting free money.

Your employer match makes it easier to get to the holy annual retirement threshold of 15% and beyond. If you’re consistently saving five percent, and your employer is matching that with their five percent, you’re already at ten percent for the year. At that point you must come up with another five percent or more to get to 15%. If you don’t know where you’ll get that extra five percent, look at your personal budget. I wrote a piece on that recently.

If your employer doesn’t match your contribution, should you still save for your retirement? Absolutely. First, if you’re going to work until your 60 years old or more, you do want something for yourself, or else you’ll have to keep working, or someone will have to take care of you.

Other Benefits

Second, from experience, your retirement savings contributes to your ‘Net Worth’ and this translates into other areas such as qualifying for mortgages. Most lenders want to see that you can save money and something they consider qualifying you for a mortgage is your Net Worth – the difference between your assets and liabilities. I wrote a piece on that as well.

When refinancing my mortgage two years ago, I realized that that my lender actually had a form entitled, ‘Net Worth’. Calculating it quarterly was routine for me by then. I’d already built up an ‘Emergency Fund’ and I’d started methodically saving into my retirement account, so I knew I was in good shape. This was in stark contrast to when I barely qualified for my first mortgage due to being too ‘overleveraged’ (carrying too much debt) ten years earlier. See my post on Dave Ramsey’s ‘Debt Snowball’, to see how I dug out of my own debt-hole.

Other Keys to Retiring

Speaking of debt, as an employee living off one paycheck, budgeting, controlling costs, and minimizing debt are all keys to being able to build a retirement nest egg. You want to be able to create enough ‘Cash Flow’ so that you don’t miss the amount going into your retirement account every pay period. Furthermore, you don’t want to be in position to have to raid or borrow against your retirement savings should an emergency arise – both of which could hurt you.

Speaking of Dave Ramsey’s group, a good book to read is Retire Inspired by Chris Hogan. It gives a nice discussion about what retirement is and why it’s important, which brings me to my closing point. If we all know we’re going to age, why doesn’t everyone save for their retirement? I think the answer is a lack of awareness and a lack of understanding of why it’s important.

Where Do You Learn?

“You should’ve learned about this when you were 18 years old!” My mentor scowled at me after we finished talking about my retirement savings and why I hadn’t maximized it a couple of years ago. It stung for a moment, but I laughed about it inside afterwards. It would’ve been nice to have been educated on the subject 20 years earlier, but honestly those in my ecosystem back in Buffalo just weren’t talking about investments or retirement savings.

One could argue that the change from DB-pension plans and DC plans needs to be better explained in the school system so that all kids get exposure to these concepts early. I do agree with that, but the reality is that if these things aren’t discussed in your family circle, you must figure them out on your own somehow.

I don’t want to make this racial, but over the years I’ve heard stories of Jewish families regularly and openly talking about money and investments at family gatherings. It’s not race-specific as my mentor’s family which is black, regularly engages in these types of discussions. What does your family talk about at gatherings?

Financial Vocabulary Words

The financial world has a language all its own. When you’re entering your first job fresh out of school, being told to start your retirement benefits and then hearing all the esoteric terms can literally sound like ‘gibberish’. It can be daunting like talking to your surgeon or your auto mechanic. Unless you understand why it’s important to start saving for your later years, you’ll likely neglect it and use your precious resources on other things, but hopefully not for too long, as it’s difficult to catch up beyond a certain age.

Why is it hard to catch up? This brings us to the “Law of Compounding Interest” of which time is a major component. I wrote a piece on that as well which I’m sure you’d enjoy, but the quick version is that the earlier you start your retirement savings, the more time they have to grow and multiply. Furthermore, depending on the nature of your plan, you could be missing out on significant annual tax savings which add up over the years.

The last important piece is figuring out what your retirement savings should be ‘allocated’ in. This is a completely different but related subject. The point is though, that you must have something to allocate first and foremost.

Other Recommended Readings

Thank you for taking the time to read this post. If you enjoyed it, you might also enjoy:

• A look at the Law of Compounding Interest and why you should care
• Your Net Worth, your Gross Salary, and what they mean
• The power in budgeting your money
• I still don’t have a car in 2018: A story about playing financial chess
• We should’ve bought Facebook and Bitcoin stock: An investing story
• My personal experience with Dave Ramsey’s Debt Snowball revisited

The Big Words LLC Newsletter

For the next phase of my writing journey, I’m starting a monthly newsletter for my writing and video content creation company, the Big Words LLC. In it, I plan to share inspirational words, pieces from this blog and my first blog, and select videos from my four YouTube channels. Finally, I will share updates for my book project The Engineers: A Western New York Basketball Story. Your personal information and privacy will be protected. Click this link and register using the sign-up button at the bottom of the announcement. If there is some issue signing up using the link provided, you can also email me at bwllcnl@gmail.com . Best Regards.

Office Technology that Will Improve Your Staff Productivity

Three of the key focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. A key to running any business/organization today is having the proper technology in place. Doing so will have improve your staffs productivity and your overall efficiency. The following contributed post discusses this and is entitled, Office Technology that Will Improve Your Staff Productivity.

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If you would like to stay competitive in your marketplace without having to invest a lot of money in new processes and procedures, you can rely on technology to help you improve the productivity of your staff while making their life in the office easier. Companies are looking for new ways of providing more value to their customers at a lower cost, and some smaller IT improvements can do just that. Find out more below.

Image via Flickr

Customer Chat

It is important that you answer customers’ queries as soon as possible. Today’s consumers’ attention span is much shorter than the previous generation’s and they are looking for immediate answers. You can find a system that will gather all the feedback and pop up on one of your employees’ computers, so they don’t have to stay logged into various systems and get distracted just to provide excellent customer service.

Shared Calendar

Image via PxHere

If collaboration is something that is necessary in your business, you will need to allow your staff to work on projects together and collaborate. You can create a virtual workplace where they can share and update projects. While a Google Suite system might do the job in the beginning, you might want to talk to an expert at inc-systems.com/services/managed-it-services/ to find out whether or not your business could benefit from a custom calendar and a CMS system.

Cloud Computing

It is crucial that you encourage the use of cloud computing. You will not only be able to automatically back up your files and take notes, share insights, update your team on the go, but also share information with your customers faster. You will have to install advanced security, though, so you can prevent the accidental disclosure of sensitive information.

Social Media Tools for Scheduling

If you are involved in digital marketing, you might have a member of staff updating your social media accounts and posts regularly. If they have other jobs as well, they will find managing everything very challenging. Instead of giving them half an hour a day, every day, you can allocate a few hours every month when they can schedule the jobs ahead. You can use an advanced scheduling and posting service and a social media calendar to make the most out of your reach and engagement.

Digital Learning Platform and Knowledge Base

It is also important that you empower your staff and help them become more efficient. This is why improving your office technology is necessary. If you have a knowledge base available for staff, they will find the answers without having to speak to a manager, and deal with customer queries faster and more professionally. You might also deliver your regular training or updates using your internal systems accessible any time, so they can complete the tasks when they are not compromising customer service or their own productivity.

Upgrading your office IT system can help you manage the different tasks in your company and improve your staff productivity at the same time.

Online Improvements For Hotels

Three of the key focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. The internet has changed the game in terms business and commerce. The Hospitality Industry is no different, and hotels that aren’t properly marketing online stand to lose business. The following contributed post is entitled, Online Improvements For Hotels.

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The Internet is a very useful tool for businesses to communicate with their target market. Almost everyone has access to the Internet these days, and people use it to compare prices and make travel arrangements. Hotels can get a lot of business from their website. However, if your business isn’t employing the correct hotel web marketing techniques, then few visitors will end up converting into customers.

https://pixaby.com/illustrations/internet-marketing-1802610/

There is a lot of competition in the hotel industry, so it’s important to do everything you can to attract the right customers. The best hotel website design won’t only attract lots of people to your site, but it will also encourage them to spend longer on there, and potentially make a booking. If someone finds your website online and it’s of poor quality or looks amateurish, then they will often click off and visit somewhere else. If your website takes too long to load, isn’t organized correctly or is difficult to navigate, then people will look elsewhere, as no one wants this sort of hassle. After all, the Internet is all about convenience.

Effective hotel marketing will give your hotel the right image. All hotels, even small bed and breakfasts need to have a professional website that shows off their brand well. When it comes to getting people to visit your site, there are a few different options. Since most people will find websites using a search engine, hotels will benefit from using SEO strategies. SEO or Search Engine Optimization is the process of making your site more attractive to search engines. When done properly your site will appear higher up in the results listings and stand a greater chance of getting clicked on. The best hotel website will also load quickly, contain lots of useful information and be very easy to navigate.

Is Your Hotel Suffering From A Lack Of Repeat Business?
Repeat business is imperative in the hotel sector, and while you may deliver a fantastic stay to your guests, this doesn’t mean they are automatically going to book again. Therefore, if you are suffering from a lack of repeat business, read on for some advice on hotel marketing online that can help to rectify this problem.

The first thing you need to do is get to the bottom of why customers are only booking one stay at your hotel and then not returning. Nine times out of ten this is because you are failing to follow up on their experience to build a loyal connection with your customers. You need to build an authentic relationship if you are to generate the loyalty that encourages customers to come back to your hotel again and again.

This is where hotel Internet marketing comes in. There are three keys aspects of hotel marketing that can help to ensure you benefit from repeat business – social media marketing, your online booking system, and email marketing. How easy is to for customers to book again? What appointment booking software do you use? Do you provide discounts for loyal customers online? Is their information remembered?

Email marketing is imperative for keeping your customers up to date with your hotel and everything that is going on. One of the best ways to increase your chances of repeat business is to offer voucher codes and special offers via email to your customers.

Aside from this, social media provides the perfect platform for customer engagement, as it allows your customers to get as close to your brand as possible. You need to post regularly on your social media accounts, and you need to ensure you are communicating with your customers, rather than merely posting a string of in-your-face advertising messages.

How Business Intelligence Can Help You Improve Your Digital Marketing

Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. Marketing is arguably the lifeblood of any business operation which itself is a potential cost. Today it’s important to understand how best use the digital marketing tools available. The following contributed post is thus entitled, How Business Intelligence Can Help You Improve Your Digital Marketing.

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If you are running a business online, you might want to reduce your admin costs as much as possible and start making informed decisions based on intelligence gathered using advanced tools. There are plenty of ways you can improve your marketing campaign and optimize your results, but using intelligent data is the most cost-effective and simplest method. It will give you an edge over the competition and help you understand where you need to make improvements.

Market Research

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You can gather market intelligence to make your marketing decisions better and based on data. From understanding the main players and the customer preferences to predicted growth and a SWOT analysis, there are plenty of things you will need to create a plan that will help you improve your strategy and talk directly to your target market. If you don’t know your audience, you will not be able to stay competitive and stand out with your offers. You need to conduct market research before launching a marketing campaign to stop shooting in the dark and start focusing on the results.

Customer Behavior

It is crucial that you understand the buyers’ preferences and their journey. No matter if you are entering a new market or are trying to keep an eye on the changes, you will need to get to know your ideal client. Find the market segment that is the most likely to buy from you and engage with your brand. You don’t want to waste your marketing budget on people who are not really interested; stop focusing on the tire kickers and find the prospects who already see the value in what you have to offer.

Market Trends

If you want to win the game of digital marketing, you will need to make sure that you keep an eye on market trends, There are plenty of free reports you can get your hands on, or choose to conduct your own research online for free. You need to gather information and analyze it using a Smart Room tailored to your industry and your company’s needs. If you are not able to get a snapshot of the market trends, you might make the wrong market penetration decisions.

Conversion Tracking

Image via Pixabay

Some people say that digital marketing is data driven today, and argue that we are losing our soft skills due to technology. However, the two aspects of research and strategy can work hand in hand. You can gather data and create messages that resonate with your audience and create an emotional connection between them and your brand. After all, knowing your facts is crucial, but engaging with your target market will improve your conversions.

Competitor Analysis

Knowing your competition can give you an advantage of creating a strategy that will build on your strengths and eliminate your weaknesses. You will have to map your market position and strategy, find out your exact share in the niche, and find the right strategy to stand out. If you know what your competitors’ main marketing messages are, you will be able to create your own unique brand identity that will impress the right type of potential clients.

AB Testing

It is important that you track the results of your digital marketing, so you can make improvements and get a better result. No matter if you are setting up your first landing page or lead capture post, or are engaged in email marketing, you will need to use AB testing to find out which messages your potential clients are responding to. You can set up variants or headlines, call-to-action, or even images and pick the winner to improve your marketing.

Marketing Cost Analysis and ROI

When you first invest in digital marketing, you will not know whether or not you will see results and if your campaigns will be worth the investment. There are plenty of ways you can measure the conversion rates and the cost per acquisition in your marketing. If you are getting an order worth a hundred dollars and your ads only cost you 25, it is something that you should carry on doing. That is why measuring the return on investment in your marketing using business intelligence can help you improve your profitability.

If you want to make the most out of your digital marketing, don’t forget to turn to advanced business intelligence tools to help you make better decisions. Improve your digital marketing and make the most out of your data analysis skills to see better results and conversions.

Reducing Accidents in Your Workplace

Two of of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Depending upon the type of company you’re running, you want to think about employee safety and minimize accidents. Accidents can not only disrupt productivity, but they can also increase the likelihood of lawsuits. The following contributed post is entitled, Reducing Accidents in Your Workplace.

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Workplace accidents can be costly in many different ways. As an employer, you could find yourself facing legal action if a member of your team, a customer or a visitor is injured in your workplace. You could lose money as productivity drops during any confusion or repairs. You could find yourself working without a valuable member of your team, and you could find that your reputation suffers, that you are no longer able to keep or attract the best staff and that your customers start to ask questions about what goes on in your company. Especially if the accidents begin to add up.

Of course, accidents happen. We all have the occasional trip, or we make a mistake during a loss of concentration. Machinery and equipment fail us, human error can never entirely be eradicated, and unfortunately, things don’t always go quite to plan. There will still be accidents in the workplace, just as there are on roads and in homes. But, as an employer, finding ways to reduce accidents in your workplace can increase profits, lower staff turnover, improve your reputation and the consistency of the service and products that you offer and give staff morale a big boost. It’s undoubtedly worth committing some time to look at ways to reduce the accidents in your workplace, even if there aren’t that many in the first place.

Assess Your Workplace and Staff

Some accidents can be avoided just by taking the time to look at what is going on. You should complete regular risk assessments, to help you to spot any potential risks and find ways to reduce them.

It’s also worth assessing your staff. You might want to consider drug testing services, as a sober team is always going to be less accident-prone and less of a risk to others. But, even without measures like this, it’s good to have regular staff appraisals, where you speak with your team one on one. Use this time not just to assess their performance, but also to ask them if there is anything that they need extra help with, or if there is anything that you could be doing to make their job easier and safer. As the boss sat up in the office, it’s not always easy to know what’s needed.

Does your staff also work in other locations? When you are considering how to reduce workplace accidents, it’s also smart to think about any other working environments. Perhaps you have field staff who are working on-location or are out on the road for long hours. They might be out of sight, but you can’t forget about the possibility of a fatal truck accident or a safety incident during the delivery of goods. It’s essential to consider how to keep them safe even if you don’t have eyes on them at all times. This might include things such as tracking drivers, ensuring they are well-trained, and maintaining vehicles.

Keep Maintenance up to Date

Most businesses use some kind of equipment. It might be heavy machinery, it might be vehicles, or it might just be fridges to store stock. Whatever you use, when it goes wrong or isn’t able to work at its best, it becomes more likely to cause an accident. Keep maintenance up to date, schedule yearly services, and act at the first sign of trouble.

Keep the Workspace Clean

Whether you work in an office, a shop or a factory, a dirty and messy workspace can cause trips, slips, banged heads, falls and many other accidents. Make sure all staff and customer areas are kept clean, and that your employees follow a clean as you go policy. Give them the tools that they need, such as cleaning supplies and wet floor signs, to do this efficiently.

Buy Or Lease A Car: What’s Best?

A key focus of my blog is Financial Literacy/Money. A major financial decision most of us will have to be make is whether to buy or lease a car. There are caveats and nuances to both. The following contributed post is entitled, Buy Or Lease A Car: What’s Best?

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Image Credit

When it comes to getting a new car, you have a few options available, these include buying a new car and leasing one, but you may be wondering which option is best for you, and whilst both definitely have their upsides and downsides, it’s really up to you to decide which option works best for you, so in this post we’re sharing with you a few different points for both buying and leasing so that you can decide which the best option is for you.

Buy:

You can sell it when you want:

If you buy your car then you obviously own it outright and can do what you like with it, which means you can sell it anytime you want or need to unlike with a car you’re leasing, so this is definitely a point to consider when thinking about whether or not you want the option to have more control over your car and sell it at a later date.

You can customize it as you like:

One of the best things about having your own car is that you can customize it with anything you like. This means you can paint it, add new wheels, and even find the best dash cam, sat-nav or TV’s to add to it – if that’s your thing. When you lease a car, you’re obviously not able to do this, but if you own it, you can do as you wish, so there’s no limit on what you’re able to do, and especially if you’re planning to sell your car, then giving it a bit of a make-over can really help you add some value to it and make the sales process a good bit easier.

It can be cheaper over time:

Although buying a car certainly isn’t always cheap, you won’t have the extra monthly payments to pay that you’d have on a lease car, and although you’ll have other associated costs such as insurance and repairs, these are going to be without an additional payment that you’d have on a lease.

Lease:

You can drive the latest model:

If you’re not able to afford a new car and also don’t want to buy something second hand, then a great alternative is to lease a car since this ensures that you’ll be driving one of the latest – if not the latest model without having to pay a fortune for it, and then once your lease is up you can trade the car for the next latest model, so it’s a great way to always have the latest car without the expense of one.

Less stressful:

Leasing a car is a bit like leasing an apartment, although it’s your responsibility to not damage it, you’re not going to be hit with things like crazy repairs bills if anything needs fixed, and you also don’t need to worry about how you’re going to sell it since that can be quite a stressful process in and of itself, so leasing a car can definitely be a good bit less stressful than owning one.

Getting Your Reputation Right

The first principle of my blog is Creating Ecosystems of Success, and two of its key focuses are Financial Literacy/Money and Business/Entrepreneurship. When start a business of any kind, it’s critical to keep your reputation intact as word of mouth travels. Furthermore once your reputation is taken a hit and customers are lost, it may be difficult to get them back. The following contributed post is thus entitled, Getting Your Reputation Right.

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When it comes to your reputation what you say, and what you do matters. It might not be something that you think about when you’re just starting out. But when people discuss you online what do you want them to say?

You probably have seen many a company have to put fires out when it comes to marketing gone wrong, inability to fill orders, or just generally being seen to rip people off.

Want next level law firm PR results? Or perhaps you are running a beauty company and want to make a big splash. Whatever it is you’ve gotta be prepared to put the leg work in yourself as well as working with a good company.

Photo by Raphael Lovaski on Unsplash

Clean House

The chances are, like most people, you’ve made a few mistakes in the past with your personal life and personal social media. Go back as far as you can and just remove anything that no longer fits with your ethos and might be seen to compromise your possible future.

Across The Board

Ensure that all of your platforms are cohesive. You’re looking to have the same tones and graphics across everything that you use to communicate.

How you deal with compliments and complaints should be the same. If you have one or two staff, then write policies and procedures. So that you won’t have one employee handing out discounts while the other is deleting lousy feedback.

Your website comprises of copywriting, images, design and coding. All of those things need to be sleek and smooth. Think of your website as a business card. You have a few seconds when people land on your site to impress them, and the navigation has to be quick and easy.

Your copy should be professional and honest. Don’t make over-inflated claims, don’t pack your website full of jargon – make it accessible and enjoyable.

Celebrate

There are probably a few awards that your products, company, and people could apply for. People are quicker to spend money and trust a company that either has nominations or awards. So keep an eye out for things that are regional, and national that you fit the bill for. It might mean you need to work on a case study or two, but they are worth it long term.

Share positive reviews and projects that have gone well too. Show people that you are doing well.

Follow Through

This one isn’t just about clients and customers. This is about living your everyday life. Doing what you say you’re going to do is just the right things to do. If you tell your suppliers you will have something to them by 4pm Tuesday, then do it. Likewise with manufacturers or even your bank manager. Being dependable and reliable is always a good quality to have.

Be Real

Although you should be having a certain professionalism, as a smaller business, you should feel easy to talk to and almost as if your customers know you. That trust and familiarity is what will build long term relationships and will keep your good reputation strong.

Building Your Business Premises On The Cheap

Two of the key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. One of the keys to running a business is cutting and limiting costs. Likewise, when it comes to your business space, it’s important to understand how to do it economically as possible. The following contributed post is therefore entitled, Building Your Business Premises On The Cheap.

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Over the last few years, there has been somewhat of a resurgence of small business owners setting up shop around the world. With the economy unstable, it makes sense for people to look for ways to control their own destiny, even if this means having to work hard for it. Starting out in any industry is a challenge, though. When it comes to things like setting up a place to work, a lot of people find themselves struggling to afford the options they have before them. To make this easier for you, this post will be exploring a few different types of workspace, along with the tools which can be used to get you up and running.

Offices

Offices are becoming just about the most common type of workspace in the world, and more and more businesses are relying on them to get their jobs done. Thankfully, while being the most popular, this is also one of the cheaper places to start your work, as long as you’re close enough to a co-working space. Providing freelance workers and small businesses with a place to work without having to rent their own office, companies like this are great for those looking to save money. Not only do they give you access to a place to work, but they also enable you to network with other professionals.

Stores

Along with offices, retail stores are also very popular at the moment, and this is another great place to start your business. You can’t often save money on the building itself, unless you go for a mobile option, like a van or a bike. But, you can easily save loads on the way that the store is decorated and finished. Industrial styles are very popular at the moment, making options like used Madix shelving look good in even the most fashionable fields. Being creative is a great way to make your budget go further, though this is something which a lot of people neglect, spending huge amounts of their business in the process.

Warehouses

Finally, as the last option on this list, it’s time to think about raw storage space. When your company is mostly based online, you won’t need to have a fancy place filled with computers or employees to help your customers out. Instead, you only need somewhere for your products to stay while you wait for them to be sold. There are loads of dropshipping companies out there which can make this cheaper for you. Some will provide the products for you, while others will expect you to handle that side of the job.

With all of this in mind, you should be feeling ready to take on the challenge of building your business premises for as little as possible. A lot of companies struggle with this, especially when they are just starting out. You don’t need a huge investment to make this work, though, instead using creativity and ingenuity to solve the problems you face, even if you find it hard along the way.

Veritably Vegan: Three Industries Which Could Thrive From A Walk On The Green Side

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. There’s a growing number of people participating in the Vegan lifestyle. As such it’s important for all industries and sectors to pay attention to this customer base. The following contributed post is therefore entitled, Veritably Vegan: Three Industries Which Could Thrive From A Walk On The Green Side.

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It’s no secret that currently lifestyle trends have a significant impact on business. Our reliance on technology is the most pressing example of this. Any companies worth their salt now has a sizeable online presence. With more of us browsing on our phones, many companies even have mobile responsive website designs. And, the trends don’t end there. Our current love for all things eco-friendly has also led managers to paperless working and renewable energy.

If you want to stay ahead, it’s also worth noting that the current trend in veganism has impacted certain areas of the working world. This new way of eating rose 600% between 2014-2017, and those numbers keep on soaring. While this won’t affect someone in, say, an office, it is a crucial consideration for specific industries. If you work in any of the following, then, you would be very silly not to factor for veganism indeed.

Farming

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We know what you’re thinking; farming and veganism couldn’t be further away from each other. And, in some ways, you’re right. But, that doesn’t have to be the case. Consider that even meat eaters are turning to local and organic suppliers as consciousness rises. That means many farmers are finding themselves in hot water at the moment. If you’re one of them, then, taking a lesson out of those vegan books could be the solution you need. By getting rid of animals on your farm and focusing on growing crops and veg instead, you could stay on top. Even better, you’ll walk right into a niche which raises you even higher. You could see success while the farms around you start to struggle. Turning to fast growing equipment like the products at Agron could even see you growing more than enough produce to meet these rising demands. In no time, you could become the leading fresh produce provider in your area, and a farm even vegans can get behind.

Supermarkets

While doing away with meat altogether wouldn’t serve your supermarket, you should consider your vegan audience. If you find your food store is losing custom to the local health shop at the moment, it’s past time you got around to this. Lucky for you, this should be an easy enough niche to appeal to. There are plenty of suppliers who now stock vegan food items across the country. All you need to do is test out a few brands until you have an entire vegan range you can be proud of.

Restaurants

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If you work in the restaurant industry, you definitely need to pay attention to veganism. Nowadays, offering macaroni cheese as an alternative option isn’t good enough. Any restaurant wanting to do well should provide at least two or three vegan options nowadays. If you really want to succeed, it’s worth considering an entire vegan menu. Note, too, that it’s also worth providing vegan alternatives to items already on your menu. Only then can you keep diners coming, and ensure your restaurant stays on top at all times.