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The Basics Of Branding And Marketing For Business

“A well-branded product instills the visions, values, thoughts, and feelings you wish to express to attract the desired customer.”

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Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Potentially the most important component of any business/enterprise is its branding and marketing. What are the basics of these two aspects? The following contributed is entitled, The Basics Of Branding And Marketing For Business.

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Branding and marketing are both instrumental in helping your product or service to be visible to customers either online or in person, a distinguished brand which makes an impact big enough on your customers to trigger their curiosity enough to buy your product and then recommend it to their friends. Discussed below are the basics of branding and marketing and how you can apply this to your own business to effectively sell your products.

Branding

A well-branded product instills the visions, values, thoughts, and feelings you wish to express to attract the desired customer. However, once your brand is launched to the world, it also encapsulates the ideas and interpretations of what new and existing customers think about your business too. The quote below highlights the importance of shared values between the brand and the customer:

“If people believe they share values with a company, they will stay loyal to the brand.”

Howard Schultz, CEO of Starbucks

A well-branded business will help you to stand apart from your competitors, you will become distinguished and recognizable in the market to the people who matter most to your brand.

For instance, when you think of Dolce & Gabbana, this may conjure thoughts of, luxury, exclusivity, whereas when you think about Walmart, you may think family-friendly, affordable and accessible. These thoughts are shaped by the brand and how it presents itself.

The best place to start when thinking about how to piece together your brand is to treat it as though it was a person trying to attract other people. Start by answering questions such as what impression you want to convey? And what’s your reputation? With this, you can begin to create a name, a logo design, a slogan and gradually an identity. According to Steve Forbes Editor in Chief of Forbes Magazine; “Your brand is the single most important investment you can make in your business”

Which is why it’s paramount to invest a lot of your time and creativity not just in the initial creation phase, but also throughout the duration of the brand’s existence to save your business from sinking later on.

Marketing

There are various divisions incorporated in marketing. One of which is the process of distributing your brand to a broader audience to increase popularity, to target intended audiences, and to convey the message set during your branding process. However, the branding process is an integral part of creating your business prior to distributing your marketing collateral. The reason being is because, without the brand, your marketing plan will lack direction. If you need help with marketing, be sure to hire an expert who knows what they’re doing, like Cullen Fischel.

For instance, you may decide your brand of clothing will represent the importance of veganism. This will help you to devise a marketing plan with direction to reach those who are interested in veganism. In turn, you can tailor your marketing strategy on targeting this niche to convey your message across social media sites, to take an active part in either attending or initiating vegan events by supplying merchandise from customlanyardscanada.com, or you might choose to write a blog on your business website related explicitly to veganism to improve your search engine optimization with unique content and improve your business’s chances of being discovered on Google. By presenting a well-crafted brand to a specific niche, you can better own, you can convey a consistent message to customers, which will also support your brand’s professionalism and reputation.

Investing time in branding and marketing your product or service will help you to reach your intended audience with an image that’s relevant and professional in both appearance and ideologies in order to attract and persuade your customers to buy from you now and in the future.

Managing Your Small Business’ IT Effectively

Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship, and Technology. Effectively managing your small business’ Information Technology (IT) operations is a key aspect of its overall health and success. What are some keys to doing this? This contributed post is entitled; Managing Your Small Business’ IT Effectively.

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Nowadays, people will check their smartphone every twelve minutes, and the average person will spend more than one entire day of their whole week online. There are various reasons for this. A lot of checking will be for personal pleasure – people will be checking their social media feeds, looking up information that is useful for them, or reading up on the news. However, an increasing number of people are seeing their time spent on tech devices clock up, as they are needing to engage with them on a professional basis. Seeing as the public are turning to the web more, it’s not all too surprising that businesses are as well! Many companies are creating social media accounts and using the web to carry out correspondence to clients, partners, and customers over email or instant messaging chat. So, you need to keep your IT up and running in order to run your business effectively. Here’s a little more on the subject!

The Importance of Keeping IT Running

You don’t really realise how central IT is to your business’ functioning until it happens to go down. Without functioning IT, many of your staff will be unable to do their jobs and you will find yourself paying out days worth of wages to individuals who aren’t actually doing anything for your company’s progression. IT flaws can also breach security, which could pose major problems down the line. Dealing with IT effectively will ensure that all of your systems remain problem free.

Outsourcing

Perhaps the easiest and most convenient way to take care of Technology Support for business is to outsource the work to a reliable company. This means that you don’t have to take on the responsibility of becoming a full time employer of an IT specialist, but you do gain the same benefits in the long run. You will always have someone or a team overseeing your company’s IT needs, preventing problems that may arise, and tackling problems that do manage to arise quickly and effectively.

Building an In-House Team

Your alternative is to build an in-house team of IT specialists. Generally speaking, this is something to consider when your business begins to expand and you have the time to draw up contracts and fit an in-house IT team into your commercial property. One of the benefits on having an in-house team, should you need one, is that everyone working for you will eventually become extremely familiar with your unique system, being able to detect and resolve problems a little more quickly than people who may not have encountered your system before.

As you can see, maintaining fully functioning IT is absolutely essential for any small business owner who wants to keep their company up and running. Hopefully, the above advice will help you to achieve this!

Business Information: Backup Data Solutions

Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. In today’s digital and information-based world a critical component of any organization is a data backup strategy, and there are tremendous potential dangers from not having one. The following contributed post is thus entitled; Business Information: Backup Data Solutions.

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Picture by Christina Morillo

Data backup in America appears to be rare in the US, as according to Nationwide Insurance 68% of small to medium businesses don’t have a disaster recovery plan in place, even though Small Business Trends highlights that 140,000 hard drives fail each week. This is a surprising fact to behold, in a world where information is power, a business without its customer credentials, tax and account details, sales and so forth, is a business that would cease to exist should it’s data become eradicated or lost in a disaster.

For businesses that rarely survive the mess caused by losing data, by the time they’ve clawed back any customers and credibility they once had, they have most likely lost unnecessary time and money in the process. This post identifies the importance of backing up your data to prevent issues within your organization. Because whether you’re a startup business, medium business or large company, data matters to you and your company for continued growth.

Potential Disasters
Business information could fall victim to a number of threats such as:

Fire or flood
Thiefs
Lost Files
IT Breakdown
Hackers

In response to the above scenarios what do you have in place currently to protect your data from a devastating fire, a hard drive failing or hackers accessing your online resources? Beyond protecting your information, by use of burglar alarms for thieves, fireproof cabinets for paper documents, and cybersecurity software, if these plans failed to keep your data intact, how would you regain vital information?

What Should You Back Up?
If you’re unsure about what information you should be attempting to back-up, it should include everything that is vital to the business’s survival. Such as customer details, business accounts and taxes, sales information and any data stored on behalf of customers. For example, for a law firm, this would include client case files, both ongoing and archived files. Archived files must be retained on behalf of the customer in case the information needs to be reviewed in the future.

If keeping a copy of physical files appears impossible to store due to a lack of space. an alternative option to this would be to transfer your paper files to digital form.

Backup Location
There are two routes to consider utilizing for backing up your files. Business owners should aim to keep a local on-site backup, easily accessible day today and an off-site backup, in the event the business premises is invaded by a disaster rendering all information useless. The backup source you use depends on the type and size of your business.

For instance, a freelance website designer could keep an external hard drive in the office with a backup of all of their tax files, website projects, and customer details, while also maintaining an external hard drive replica at home or even a disc.

In contrast, a private hospital would have a more significant amount of data, which is exceptionally confidential requiring sturdier backup than an external hard drive. In this scenario, a manager may instruct for all paper files to be copied and scanned, and transferred to companies offsite data server.

Large data servers can store masses of data which is housed explicitly in a secure environment to keep data safe. Preview info about iConnect Montana for a comprehensive, detailed explanation on what offsite data servers inhabit to help gain knowledge on how to best backup your business information.

Easy Ways To Save Money To Start Your Own Business

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. One of the challenges to starting a new business is raising the money. There are several ways to approach this problem. What are some simple ways? The following contributed post is entitled, Easy Ways To Save Money To Start Your Own Business.

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When you’re starting a business, the first thing you need is a great idea that has the potential to sell. The next thing you need is money. You can come up with all of the great ideas that you like but you’re never going to get anywhere without startup capital. At some point, you’ll need to go to investors to get some cash to build the business. But people aren’t going to put their money behind a business that hasn’t proved itself yet. You need to get things going and start building a bit of a customer base before you can realistically approach investors. If you’re lucky, you might have that kind of money sitting in your savings account but most people don’t. If you’re serious about starting this business, you’ll need to take some drastic steps to get the cash together. These are some of the best ways to save up money to start your own business.

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Slash Your Budget

You’re never going to get to where you want to be without making some sacrifices. If you’re going to put together that kind of money, you need to be brutal with your budget. All of those luxuries that you normally enjoy are just eating into the cash that you could be saving for your new business. Write a new budget that covers all of your essentials and get rid of any extra luxuries. That doesn’t mean you can never enjoy yourself again but every time you think about spending money on something frivolous, look to the future and consider your business.

Earn Some Side Income

Your job might not be earning you enough to save for your business. If that’s the case, you need to find some ways to earn more money. Looking for a better paid job is one option but if that doesn’t work out, there are plenty of other ways to make money. If you know how to make a lot of money fast through side hustles, it’s a lot easier to save up the startup capital you need. You could do anything from becoming an Uber driver to trading cryptocurrencies. Whatever it is, just find as many ways as possible to bring in extra cash on the side.

Cut Your Startup Costs

You should have a goal amount in mind when you’re saving. Look at what the rough startup costs of your business will be and that will give you something to aim for. Things will be a lot easier for you if that bar is a lot lower, that’s why you should think about cutting startup costs for your new business before you even start it. Running it from home is one of the best ways to do that because you cut a lot of overheads like office space and lots of employees. If you plan a way of running your business on a barebones budget to start with, saving up the cash you need will be a lot easier.

Saving up for your own business is hard, but if you’re dedicated enough, it’s absolutely possible.

How Can You Better Protect Your Business?

Two of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. With most business enterprises today being digital and utilizing some form of technology, new security needs have been created. The following contributed post is thus entitled; How Can You Better Protect Your Business?

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You’d like to think that if you would just work hard and get a stroke of luck, that your business would thrive. Alas, that’s not really the case. It’s a complicated world out there, and any number of things can go wrong! As such, it’s imperative that you’re treating your security just as seriously as anything else connected to your business. But since you’re an entrepreneur and not a security expert, it’s unlikely that you’ll know where to begin. We take a look at a few helpful pieces of advice below.

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Set the Procedures

Taking a proactive stance is much better than a reactive stance, when it comes to your security (and, now we think about it, most things to do with your business). So take a look at your business, and identify its vulnerable spots. There might be weaknesses that you’ve never even thought of before which are leaving you open to attack; this is common with things like data security, which is a big concern at the moment. If you don’t know what you’re looking for, then you can work with a security expert. You can’t know how to keep your business safe unless you know where the danger is.

Hire the Right Staff

Your staff is the backbone of your organization. Alas, they may also prove to be a threat to your business, if you’re not hiring correctly. The vast, vast amount of crime that is committed against a business happens internally; that is, the staff are taking advantage of their knowledge and ripping them off. While there’s no way to completely limit the threat, it’ll be severely reduced if you’re checking that your staff are as trustworthy as they say they are before you hire them. Always follow up with the references they give you, and perform additional security checks too.

Systems in Place

There are plenty of modern systems that can incorporate into your business that’ll help to keep it safe, in a number of ways. For example, if you have CCTV cameras positioned around the edge of your business, then there’ll be a visual warning for would-be thieves to stay away (and, of course, they’ll also come in handy should anything be taken). An advanced protection system, like the one offered at www.apsmontana.com, will also provide added peace of mind that all of your alarm systems are in full working order. It’s all about putting all the protective pieces in place so that everything can run smoothly.

Get Covered

But what if something does go wrong? Try as you might, you can’t stay safe all the time. Accidents and other issues do happen! When they do, it’s important that the impact they have are kept to a minimum. You can do this by getting full coverage insurance. It’s not the most glamorous thing to buy, but you’ll be glad you did if something goes wrong – it might just be what keeps your business afloat. Don’t let one accident undo all of your good work!

Spend Less Time Doing The Business Tasks You Hate

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. When starting any business enterprise, it’s important to be able to effectively manage your time so you can focus on the tasks that need your attention the most and not spend time tasks that don’t need it. The following contributed post is thus entitled; Spend Less Time Doing The Business Tasks You Hate.

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Whilst there are certain to be tasks within your job that you enjoy doing, there are also likely to be tasks that you dread – this could be anything from accounting to making phone calls. Fortunately, there could be ways to make these tasks easier and less daunting. Here are just a few ways to spend less time doing the tasks you hate.

Delegate them

If you have employees, one way to deal with these tasks could be to simply delegate them. Obviously, you want to ensure that your employees are capable of doing these tasks – if they’re not trained in this area or if they’re just as busy as you, delegating this task could be unfair and could result in it being done badly. There’s an art to delegating and the best employers know how to get the right balance. You should treat employees by giving them tasks they want to do from time to time. At the same time, you should also take on some of those difficult jobs to inspire your employees to do the same – if you’re not prepared to get your hands dirty, your employees may start to wonder why they should be expected to do so.

Outsource them

Another way to free up these tasks could be to outsource them to a professional that isn’t an employee. This could mean parting with a little extra cash, however by hiring a professional, you’re certain to get the job done competently. You can outsource practically anything nowadays. A few common tasks include office cleaning, marketing, accounting, IT support and legal support, however you can also outsource other tasks such as planning business trips, making phone calls and even answering emails. Always read testimonials and reviews before choosing a company to work with so that you get the quality service.

Automate them

Some tasks may be able to be performed by software. For example, it’s possible to build rotas and monitor work progress using software. It’s also possible to use software to automate invoices and bills – if you click here you’ll find one such programme. Such software may require paying a subscription fee, but this could be worth the added efficiency. You should always do your research before choosing software – this could include reading reviews online, attending software demos or downloading free trials.

Consolidate them

There could be tasks that can be streamlined to make them easier. This could include storing all your information in one place such as choosing one insurer with an all-in-one business package or going paperless so that all your files are digitally stored in one location. Whilst having lots of different options may save you money, it can sometimes make life confusing and could be making various admin tasks more gruelling.

How Technology Is Freeing Up Entrepreneurs’ Cognitive Resources

Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship, and Technology. Like every other facet of life, technology has changed the entire landscape of business. Many of our new technological innovations have freed up the minds of entrepreneurs from the simpler tasks and are now allowing them to focus on the more critical aspects of their enterprises. The following contributed post is thus entitled; How Technology Is Freeing Up Entrepreneurs’ Cognitive Resources.

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Entrepreneurs have to think about a lot of things on any given day. Some of those things are profound and uniquely human, but a big chunk of it is formulaic and not particularly exciting. What’s interesting, however, is that technology is increasingly taking over much of the grunt work, freeing up entrepreneur’s cognitive resources.

Over the last couple of decades, technology – especially digital technology – has improved enormously. But not, with the advent of artificial intelligence, we see the emergence of machines which can perform cognitive tasks. For a while, smart software has been able to do things like reading handwriting – helpful for keeping a record of expenses – but today’s AI is moving far beyond that to do more sophisticated things, giving business leaders more time to focus on the things that matter.

Distributed Computing

Take the cloud, for instance. Managed IT services mean that businesses no longer have to worry about providing their own IT solutions. All that’s required for most companies today is an internet connection and a few notebooks connected to the network. In many cases, it’s no more sophisticated than a setup you might find at home. All the servers, admin, security and updates get done automatically, off-site by professionals who have a deep understanding of what they’re doing.

The role of the cloud shouldn’t be underestimated. It means that entrepreneurs don’t have to wrestle with IT issues in the same way as they did before. There’s no need to troubleshoot networking problems or do anything of these non-business critical activities. Founders are free to pursue the ideas which matter most to their business – they can deal more directly with their customer’s needs.

Artificial Intelligence

Artificial intelligence helps too. Although powerful applications of the technology are still relatively new, they’re helping those at the top of business automate much more of the dull, day-to-day stuff that needs to get done to run a business. Accounting apps, for instance, have made it so that small businesses no longer need to spend hours filing away receipts or calculating VAT. Instead, it’s all done automatically by the app with minimal user input using AI technologies. AI is also helping businesses with their customer service, with things like chatbots on their websites. Chatbots can provide customers with timely information on a range of issues without ever having to use the resources of real people in the business. These automated, website-based programmes can answer most questions.

Other technologies, like RSS feeds, are also reducing the difficulty of doing research. Articles posted straight to one’s feed reduces search time and conveniently provides updates.

The Long-Term Trends

This trend of freeing up entrepreneurial time for the most creative and high-value-added activities is set to continue. Economists at the University of Oxford suggest that the majority of formulaic work – stuff that can be broken down into a series of tasks – will be automated by smart software over the next twenty years. Thus, technology, in their opinion, will reduce the value of doing rote work and increase the earning potential of entrepreneurs with creative flair.

Making The Most Out Of Your Entrepreneur Skills

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Being an entrepreneur requires a different set of skills than being an employee. Before becoming an entrepreneur it’s helpful to know what those skills are, and even are starting your business activities, it’s important pay attention to those skills and intentionally grow them. The following contributed post is thus entitled; Making The Most Out Of Your Entrepreneur Skills.

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Life as an entrepreneur is never going to be dull, wouldn’t you agree? Your mind is constantly buzzing with fresh ideas, new approaches to things or even the next step on your business journey. However, there are always you can improve things so that you are living your best entrepreneur life. You may be wondering how you go about doing that? After all, the main impression of any entrepreneur is you either have the gift, or your don’t. However, there are ways you can improve your life as an entrepreneur, making things easier on yourself and even advancing your business in some way.

Many people choose the life of an entrepreneur. They enjoy the thrill they get from creating something out of nothing. They are money magnets, always wheeling and dealing and able to turn their hand at anything. Some people envy them. However, one thing that people don’t think is that the life of an entrepreneur is hard. These things come easily don’t they? But that is where they are wrong. It takes work, dedication, and a lot of hours slugging away to make things a success. The thing that does come easy is the passion. But if you are hoping to make things a little easier on yourself as an entrepreneur then read on to find out more. I have shared with you what I think could help you make more of the entrepreneur skills that you have.

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Improve your general business knowledge and skills

Perhaps you feel that you may have more that you can learn regarding business practices. It might mean that you choose to do things a little different, perhaps having a different approach or process to implement into your own business empire. You could take on a business management course, or even be very specific such as focusing on areas like marketing. Courses such as that can really enhance your skills and make you more confident in new trends and different ways of doing things. Other ways you can improve your knowledge is through networking. Heading to seminars and being around people in a similar industry or share similar interests can really help your business and you.

Be open minded to where technology can help you out

There is so much great technology out there these days, that you definitely need to be open minded to know exactly when and where it can help you out. Let’s start with the basics and the advancement of smartphones and tablets. Now as an entrepreneur you can be on the move and still working wherever you are. You might also want to think about the smoothness of transactions between technology and your servers and this is when server movers could be beneficial to your business. Other advancements in technology has to be in terms of how quick and easy you can reach people nowadays. Thanks to the digital platforms of a website and social media, you can be up and in business i a matter of hours. Having the right strategies in place to ensure that your business is seen, from a decent social media marketing plan to ensuring the content you use is optimised for search engines, can both be extremely beneficial to help you build a successful business life.

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Change your attitude towards business

Your attitude could be your biggest hindrance. It can be your biggest asset or your worst flaw. A bad attitude is never received well. People don’t respond to negativity, and they certainly don’t respond to frustration and disrespectful attitudes. However, an attitude can be your biggest saviour in business, especially if you are prepared to put in the hard work and graft that is required of you. Sometimes you need to be able to ensure that you as a person come off in the best possible light. No matter what you do, first impressions still count for a lot. It is just these days you are able to make a first impression without needing to be face to face with someone. Think about what you say, how you act, and how you portray yourself online to ensure that you do all that you can to have the right attitude.

Have a more positive outlook on life

Positivity breeds positivity and having this sort of outlook on life can really help you as an entrepreneur. Naturally, you should be a fairly positive person anyway, many entrepreneurs are, but it can dwindle from time to time if things aren’t going your way. Many famous entrepreneurs believe in the power of positivity and things like the law of attraction so it might be worth acquainting yourself with some positive affirmations. Ding this daily and having the right affirmations and outlook on life can actually make you a much more productive person in other aspects of your life. It is about being proactive and having the tenacity to go out and get the things that you want out of life.

Look at the nitty-gritty of your business model

Finally, look at the nitty-gritty of your business model and see if there are any improvements to make. Things like a change in social media strategy, a different marketing campaign to sink your teeth into, or even something like a change within ranks in your business model such as offering other team members different roles, so you get a fresh set of eyes on different departments. You may also want to think about the benefits of outsourcing. It can be so tempting to want to do everything yourself, but this can often mean that you don’t complete tasks, or perform them with mediocrity. There is always something you can do, and your business is always there to be improved. Which helps you to grow and succeed in other ways. Doing this regularly can often ensure that you don’t miss out on potential opportunities.

I hope that this helps you to make then most of your entrepreneur skills and to make the most out of what you have available to you for yourself and for your business.

Business Finances: Simplified

Two of the key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Keys to successfully running any business or enterprise is: sound money management, control of cashflow and control of expenses. The following contributed post is thus entitled; Business Finances: Simplified.

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As a business owner, you will likely find there are countless demands on your time. However, there is one demand that is undeniably the most important of all: sound financial management.

The financial state of a business is, after all, the dividing line between business success and failure. While it is undeniably important to think about the future, plan for growth, assess your competitors, keep your staff happy and so on and so forth, without good finances underpinning your company, all of these tasks are rendered irrelevant. Finances are everything… but they are also incredibly complex.

This is far from an ideal solution: the finances relating to your business are important, but they are also confusing, detailed, and in need of constant nurturing. It could be argued that dedicating all your time to good financial management would mean you had relatively little time to do anything else – so how can you cope with the demands of the rest of your business, and managing the finances of that business?

There is, thankfully, an answer to this question: you simplify your business’ financial management; and below, we’ve put together a few ideas that can help you achieve this goal.

#1 – Reduce the number of companies you make payments to

A standard business could find themselves making payments to individual providers for the following products:

● Gas
● Electricity
● Your business cellphone
● Internet service
● Business insurance
● Liability insurance

This means that – at a minimum – you may find yourself juggling six different providers just to establish the basics of your business. That’s six different companies you have to research prior to purchasing, six different account numbers, six different provider terms and conditions, six different customer service phone numbers to remember in case things go wrong, six different monthly direct debits – and that’s just the bare minimum.

Such a scenario is all too common, and it is the enemy of simplified finances. Instead, look for providers that offer a range of services; you could buy your cell phone plan and landline from the same company, click here to find out more about companies that can provide more than one type of business insurance, and group together your utility needs under a multi-fuel account. These measures would halve the number of companies you have to research and deal with, greatly simplifying the management of your outgoing costs as a result.

#2 – Note every single purchase you make

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Imagine a scenario where you use your business credit card to make a stationery purchase. You’re busy, so you make the payment, tuck the receipt in your wallet – or archive the receipt email, if shopping online – and move on with your day, assuming you’ll record the transaction in greater depth at a later date.

There is, of course, a chance you’ll do just that – but running a business is demanding, and there’s an equal chance you’ll forget to do so. This means you’re effectively storing up a problem; a moment when you’ll study a bill, or go through your tax-deductible expenses, and be completely unable to recall the transaction. In the best case scenario, you’ll be able to find the receipt and track back, but even then, you’ve still spent more time than necessary on a small task.

Instead, record the following details about every purchase you make for your business:

● The amount of the payment
● The payment method you used; i.e. debit card, credit card, or cash
● The purpose for the payment
● The payment recipient
● The date of the transaction

You can then set a reminder on your phone to input the transaction into the relevant records and file the receipt for safekeeping as soon as is convenient.

#3 – Schedule account debits for the same time every month

If recurring outgoing payments debit from your account throughout the month, life can get confusing very quickly. You may find that you have to run the numbers and check you have the funds you need to cover future payments every time you wish to make a non-recurring payment or debit, which is far from ideal.

To avoid this, set up all of your recurring payments for a single day every month – ideally the first, as this remains the same date every month. You may find that you need to pay more for the first month on a new payment plan to change the dates, but this is well worth doing in order to achieve a more streamlined approach in future.

#4 – Use a “traffic light” system for financial tasks

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When managing your business finances, it can often feel like you have a plethora of tasks demanding your time – you have to make payments to suppliers, manage your receipts, balance the books, issue customer refunds, and many more besides. If you’re feeling overwhelmed, implement a “traffic light” system.

To do this, start by making a list of all the financial tasks that are demanding your attention.

● Red: tasks that must be completed as soon as possible, with potentially severe ramifications – such as fines or fees – if they are late.
● Amber: tasks that must be completed as soon as possible, but that will not result in financial ramifications if they are not completed immediately.
● Green: tasks that are important, but that are without a pressing deadline or a set point at which they have to be completed.
● Any task that does not fit into one of these three categories should be set aside to be perused at a later date or potentially discarded entirely.

When every task is assigned a color, you can then begin to work through them in order of priority: red, then amber, then green, accomplishing as many as possible in the time you have available.

In conclusion

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For your business to succeed, your financial management has to be excellent – but without consuming your entire schedule. If you give the tips above a try, you should find that you’re able to streamline your finances and exert positive control, while still managing to leave plenty of time for other business-related tasks. Good luck!

Looking To Grow? You Have To Let Go? How You Can Work With A Remote Team Effectively

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. With today’s technology, many workers are working remotely. There are certain keys to working with remote teams. The following contributed post is thus entitled; Looking To Grow? You Have To Let Go? How You Can Work With A Remote Team Effectively.

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Growing a business these days means having to find ways to cut financial corners. If you’re someone that’s on the road constantly, remote work is an essential cornerstone of a developing company. Many businesses use remote workers now, but for all of the pros and cons associated with remote working, if this is essential right now, how can you work with a remote pool of workers effectively?

Don’t Confuse Brevity With Clarity
When we looking to maximize our effectiveness and we need to communicate with remote teams via email, we can feel that the fewest number of words possible is the only course of action. But, we can confuse brevity with clarity. You have to think about getting your point across, not just so your workers know what to do, but so you can avoid any bounce back. A lack of clarity will result in more confuse responses which will triple your workload and reduce your productivity for that day, meaning you will have to work hard to catch up later in the week. Regardless of your type of work, whether you’re growing a digital agency, a pool of bloggers, or an e-commerce business, if you have remote workers that have to be firing on all cylinders, you have to ensure that you are able to distill exactly what you mean into a message so that it leaves no stone unturned. This is a fine art.

Breathing Space
The anxieties that creep in when we’re running a remote team is that we, very simply, have no idea how our employees are working. There are ways for us to ensure they are on the right track, regular meetings, either in person or via video call work perfectly fine, but part of the draw of remote working, especially when you are starting up a business, is that the employees have some sense of freedom. They are working from home, so they are able to do things, within reason, their own way. The temptation can be for us to breathe down their necks a lot more and metaphorically look over their shoulder. But you have to think about the overarching productivity. If you are constantly pinging messages to an employee to check on their work, you’ll have to think that this will invariably slow them down. This is why it’s better for you to instigate communications first thing in the morning or the end of the working day. It all depends on the feedback you have to give, but working at home comes with its own unique set of challenges, and we have to think about this, because if we are sending numerous little emails, messages, and we are one step away from picking up the phone and speaking to them, the number of little tasks that they have to do throughout the day that purely involves messaging you back could slow them right down and impact you at the end of the week.

To work with a remote team, it requires the ability to say what you mean, but let them work in their own way. In many ways, you are relinquishing a lot of control, but if you are looking to grow, then you have to let go.