Category Archives: Business and Management

How to Turn Into A Successful Business Adviser

business adviser discussing to his clientStarting up a small business consulting business firm can be a surreal experience. It’s perfectly fitting for someone who wants to become a distinguished business advisor who shares their insights with others. However, starting up your own firm takes a lot of time and effort. So here are a few ways on how to start your life as a consultant and pave your way to success.

Do things right

You have to take things seriously and keep your mind focused on the tasks at hand. You should also avoid making the impression that you’re only doing it as a part-time job. It’s also best to have your own website and prepare a few business cards on hand as well. Another way of creating a strong impression with your client is by establishing your own social media presence as a consulting firm. Start doing transactions for small-time businesses until you create a steady reputation.

Be passionate about it

One of the key things that can drive anyone to success is the person’s passion. You need to know if you’re really into it and not just a faze. See if you have what it takes to carefully plan your day and practice time management. You also need to know if you’re ready for networking as it can be critical to your success.

Plan ahead for any late payments

For someone who’s just starting out, it’s always best to prepare for everything that may happen in the future. There are times when payments can be delayed. That’s why it’s highly advisable to beef up your savings before you start entering the business scene. It’s also not bad to decline or refuse a job once in a while. If you think your plans will not be met, tell your client earlier and clarify your reasons why. This is one way to show professionalism.

Starting up your own consulting firm can be quite difficult, especially if you’re only starting out. That’s why it’s best to undergo a few lessons from an established business brokerage to help you prepare yourself in becoming a business advisor.

Practical Tips on Pricing Your Managed Services

Competitor analysis conceptYou’ve put a ton of research, thought, and effort into choosing the managed services you offered, and you already know that pricing your services right is immensely critical.

But, if there’s one thing many managed service providers (MSPs) still need to master is pricing their products. While there are plenty of ways to price your managed services, before deciding on a pricing strategy, consider these tips first.

1. Be clever about increasing prices

You don’t necessarily have to stick with just one price forever, because increasing costs, provided that it’s at the right time and for the right reasons, is actually a necessity for MSPs. But refrain from increasing prices due to greed or jealousy.

For example, you don’t need to increase your prices just because you found out through your competitor and price tracking efforts that a competitor increased theirs and are enjoying benefits. If you find that you failed to make your target profit for a certain month, figure out why and go from there.

2. Sell essential bundles and not just single items

Although it’s great that you want your customers to have flexibility over choosing what services they want, this strategy often backfires since many customers don’t really know what services they really and often leave out crucial services.

To counteract this, consider putting together an essentials bundle made up of core software, hardware, and services. You might need to allow for some flexibility, whenever it’s appropriate, but’ you would generally avoid the stress of selling just single items or services.

3. Consider value-based pricing

With value-based pricing, you set prices mainly based on a service’s estimated or perceived value to your customer instead of based on the service’s actual cost.

The beauty of this pricing strategy is that you’re essentially marketing your expertise to your customers, and not the actual cost of the service, so they’ll see more value in your service. Focusing too much on cost would result in difficulty maintaining customers and attracting new ones.

Getting your pricing just right is tricky. However, following the tips above would rid you a ton of unwarranted stress. It is likewise vital to remember that setting proper prices for your managed services does not necessarily mean that you must offer your services on the cheap.

Put simply, if you successfully manage to highlight the value of your offerings, it might cost a bit higher than some of your competitors, and smart customers would know and appreciate this.

Warehouse Storage Aisle

How to Create an Effective Warehouse Design Like a Pro

Warehouse Storage AisleAn intricate balance of equipment, infrastructure, and inventory is needed to make everything in the warehouse work seamlessly and efficiently. That’s why it’s much more practical to set up warehouse pallet racking systems that’ll complement your warehouse design to ensure seamless operations, notes Shelving Shop Group. Here are a few other recommendations that you might want to consider to help you get started.

Hear what your managers and contractors have to say

Although it can be tempting to start planning for a warehouse racking design immediately, it’s much better if you talk to both your managers and contractors first. These people may have been working in the warehouse for years. So they’ll have an idea on how to operate the facility better and can even suggest a few concepts regarding the layout.

Know the storage requirements

You need to understand the storage requirements for the facility. You may want to consider the products that you’re producing and the right amount of storage that it needs. Keep in mind that racking should be based on the products’ required storage.

Use every available storage space

As soon as you’ve determined the right storage requirements for your warehouse operation, you may now start designing the layout. Ensure to utilise all the available storage space in the warehouse and use it to your advantage. You should also consider the possibility of expansion on your design so you won’t have any problems with it in the future.

Creating an effective layout is an ideal way to increase the warehouse’s productivity. Always consider everyone’s suggestions, especially those who have been working in the facility for years so you can get a better understanding of how everything works. You may also want to ask some help from experts to get more feedback on what design to choose.

4 Office Space Improvements to Enhance Employee Productivity

Office spaceHaving open spaces seems to be the trend in the recent years. A lot of offices, most especially startups, have adopted this movement in the hopes that it cultivates a more collaborative environment.

However, according to a study conducted by Exeter University, as cited by Inc.com contributing editor Geoffrey James, this design, in fact, reduces productivity.

How do you, then, improve your workplace to enhance the efficiency of your workforce?

1. Improve your employees’ office workstations

Instead of forcing people with different personalities to lump together in a single office workstation with their laptops, provide them better work desks. If you want to ditch the partitions, do so, but give them more individual spaces. Most people tend to work better if they have enough privacy to be creative.

2. Create more communal spaces

While sharing desk spaces would be too much for some employees, creating other communal areas where they can just take a breather or have a more creative brainstorming session is a great idea.

For instance, aside from your boardroom-type meeting rooms, you utilise corners and set-up smaller shared spaces where your employees can just have a coffee break or have one-on-one meetings.

3. Upgrade the lighting

Lighting in workplaces has a vital role in the productivity of your employees. As much as possible, have more windows, so there is much more natural light coming in. This would increase their energy and mood. Also, your lighting should not be too bright or too dim as either could strain their eyes.

4. Keep it clean and sanitised

Your office space must be regularly cleaned and maintained. Repairs, such as a faulty air-conditioning unit, must be done as soon as possible. You also do not want your employees to suffer from dusty carpets and furniture, so make sure you have disinfectant systems in place.

All these can impact your employees’ health greatly.

It is no secret that the look, atmosphere, and cleanliness of your workplace affect your employees’ work performance. It is unfair to expect maximum efficiency if they are exposed to unfavourable circumstances in your office space.

Guidelines on Creating a Healthy Workplace

a healthy work spaceA healthy work environment helps boost productivity and ensures the well-being of your workers. Here’s a guide on how you can go about creating one.

Maintain a clean and comfortable workplace.

Keeping the office sparkling clean can have a tremendous effect on your employees’ health and morale. You can hire commercial cleaners in Moncton for this purpose. Also, if work entails your employees to sit in front of a computer for long hours, you need to ensure you have an ergonomic office to prevent musculoskeletal injuries. Back pain is one of the common causes of absences in an office.

Comply with legislated workplace standard.

Occupational health and safety regulations are in place to protect employees from any health risk and injury in a workplace. Be sure to comply with those. You can also be proactive in requesting for workshops that you and your employees can attend so that you are well versed with the current health and safety practices in an office.

Maintain a positive culture.

Each organization has a unique culture, and it’s usually the leaders who set this in a work environment. Make sure that you have fair and clear policies in place. Also, you can expect different personalities in an office setting, so it’s important that those in leadership roles have what it takes to engage people from different backgrounds and with varying personalities. Empathy works. When people know that they’re cared for, they’ll usually reciprocate by doing their job well.

Encourage a healthy lifestyle.

Office work can cause your workers to be very sedentary, so it might help to schedule team-building activities to encourage your staff to be more active. You can also offer incentives to encourage them to maintain a healthy lifestyle. Providing free membership to the gym or healthy meals can do the trick.

People are your best asset. If you can provide a healthy environment for them to work in, it will help mitigate work-related stress and help your staff perform well at their job.

Tips to Get Your Book More Sales

Writer at workEvery writer’s dream is to get their work published. Once they see their book displayed in a bookstore, it is hard to not smile in glee. However, books are not always easy to sell. Many authors worry about how much income their book would make since most people lean towards buying books that are already famous. There is no need to worry, as there are ways that can boost up your book’s sales. Here are a few tips that will help you get your book noticed.

AI

Technology has come a long way and has been a great helping hand. There are lots of different marketing solutions available for you to choose from. One of the most efficient forms for you as a writer would be artificial intelligence for publishing. Artificial intelligence solutions predict market performance and give analytics and insights. This allows you to have the upper hand and be able to generate more sales by using it.

Book Description

Unlike movies and TV shows, books do not have visual trailers. However, they have descriptions on the back of the book. This will allow a potential reader to get a sneak peak of the book, just like a trailer. Be sure to make a very persuasive book description. If a person stumbles upon your book, reads the description, and likes how you described your book, there would be a high chance of them purchasing it.

The Design

is a known fact that book buyers shop with their eyes. Having an attractive book cover will make your book look more alluring to the buyer. It will also represent what personality your book is. Make sure it has been professionally designed. Your readers will appreciate the design of your book and see how much you cared about it.

If you want to your book to get more attention, it can easily be attained. By doing a few things such as using advanced marketing techniques, having a well-written summary, and have a great front cover for your book, you will notice your book’s sales go up in no time.

A business transaction

Selling Your Business: When is the Right Time?

A business transaction“There’s a time for everything,” as the common saying goes. While this is true at some point, the big questions are how and when you’ll know if it’s indeed the right time to do something. This can be applied to different aspects of your life, even your business and professional career.

As a businessman, you might have come to a point where you considered selling your business for a variety of reasons. Ubcutah.com says that this is normal, and there’s no right or wrong time to sell your business. All you need to do is know the signs when you need to do so:

1. You lost your passion

You started your business because you have a passion for it and have established your own goals. As time passes, however, these goals will soon be achieved and your passion will slowly fade. This is a sad reality that many businessmen face and is one of the leading reasons they sell their business. You simply face it and learn to go on with your life.

2. The business no longer needs you

As the owner, you have surely put an effort and time to make your business where it is now. As the business grows, however, they would need your skills and presence as the owner. After reaching your peak, it could decline slowly. As unfortunate as it might seem, this is a reality you have to learn to accept. Once you feel like your business no longer needs you, don’t be afraid to move on.

3. The market is against you

Advancements in technology, as well as changes in taste and perception of people, make some businesses boom and others fall down. If you belong to the latter, then it’s high time to sell your business before incurring even more losses.

Again, there’s no right or wrong time to sell your business. It all boils down to your personal preference and decision on whether you’re ready to part with something you’ve worked hard to achieve or not.

Secrets of Success: How Staffing Firms Help You Find Talents

Male applicant and recruiter in job interviewThe success of a company depends on working on its core business in the best way it can. It also helps to have high-quality employees and talents. When trying to fill a new or vacant post, companies use recruitment firms to find top talents.

Recruitment agencies such as Bradley Scott Resources can address a broad range of staffing needs, from executive posts to front desk customer-facing functions, IT, and administrative support jobs.

Choosing Candidates

One key difference between hiring via a recruitment agency and direct hiring is the quality of the applicants. Recruiters already have a pool of talents to choose from. These include passive and selective candidates.

Strictly speaking, they are not applicants because they already have jobs and are not actively seeking other employment. Having these in the candidate pool increases the chances of hiring someone who can be productive from the first day.

In addition, these candidates have already been pre-screened and sorted before there was a need for a new employee. This shortens the time needed to find and evaluate a potential hire.

Networks and People Who Want to Work for Them

Another secret to the success of recruitment firms is that they have the contact details of the top people in the industry. These talents do not go out searching for companies to work for. Instead, they leave the search to the recruitment firms. They want to work with agencies because they trust the recruiters’ ability to find companies that would make the best use of their abilities and challenge them.

If the recruitment firm does not have the contact details of top talents in their field, at the very least, they know where to find them. Using their network of contacts, they can find passive candidates who fit the job description.

Finding the right people is not an easy task, but successful recruitment and staffing firms are able to do their job in providing the best people for the job because they have the contacts. A company that is trying to find qualified personnel should consider hiring through established and reputable staffing companies.

PRI vs SIP Trunking: Which is the Best Option for Your Business?

Happy businessman talking on phoneCommunications technology has been heavily reliant on the Public Switched Telephone Network (PSTN), even when the earliest iterations used analog lines. The digitization of telephony then paved the way for Primary Rate Interface (PRI) lines. These allowed businesses to field and receive up to 23 calls at the same time and on the same line. As things progressed with Internet connectivity, the SIP trunking-supported VoIP system started gaining prominence.

So, PRI vs. SIP, which is the best for you? This guide takes a look at both to help you decide.

Primary Rate Interface (PRI)

PRI has the advantage of over four decades of infrastructure and standardization to ensure that things flow smoothly. It can also be easily backed up by a second PRI for redundancy and security in case of an emergency. Additionally, it doesn’t need to rely on data bandwidth to support the voice calls it’s called upon to handle.

On the downside, PRI systems are costly to implement and upgrade. It also requires long-term telecom contracts that are still stymied by a 23-line limit. Lastly, upgrades or modifications could take weeks to implement. The system remains viable for businesses without sufficient bandwidth allocation to sustain modern IP phones as well as those with working structures in place, however.

Session Initiation Protocol (SIP)

SIP services are the marketing term used when implementing VoIP calls, a communication system that offers several benefits to businesses. It supports the transmission of all-important voice calls as data and multimedia. While still maintained by a vendor, the system doesn’t need much in the way of a physical infrastructure. Moreover, it is cheaper than traditional PRI systems and can integrate mobile phone calls in an emergency. Best of all, it’s thoroughly modern, offering remote connectivity and support.

The system, however, requires a strong Internet connectivity package that might be beyond smaller businesses. It is also more vulnerable to cyber crimes and attacks than its PRI counterpart. Finally, the variation of quality of services offered by VoIP vendors can be vast and unreliable if not carefully researched. Carefully implemented, however, this fits most businesses today.

When choosing which technology to leverage, take a look at your company’s needs. Decide which pros fit you best, and which cons are most manageable.

Accounting sheet with pencil and calculator

For Businesses: 3 Reasons to Do Automated Bookkeeping

Accounting sheet with pencil and calculatorIt can surely be hard to manage a business in today’s digital age. With the advancement of technology, almost everything is done online, and it could be stressful if you do it all by yourself. 

This is why it is a great idea to get bookkeeping services to record all financial transactions of your business – this means supplies you bought, items you sold, and receipts. Here are three ways automated bookkeeping makes the process easy for business owners:

Faster processing

Gone are the days when bookkeeping would mean having to record financial transactions on paper. Technology has allowed computers to do the bulk of the work, and this means faster processing. 

With automated bookkeeping, payments are automatically deducted from credit card or bank accounts. Expenses are also categorized right away so you would know what it was for, when it was done, and who processed the payment.

Smart solutions

Basically, this process means that whenever your business handles bills, you are now able to upload them so you can manage them on your own computer system. With the help of a computer, you can also set “smart conditions,” which means telling your computer to process a transaction automatically. 

When your monthly business bills arrive, for instance, your computer can treat this as a signal to pay the bills online so you will not have to.

Forecasting 

Doing bookkeeping also allows you to use your computerized services to plan what business moves to do next. You can brainstorm with your colleagues to envision business scenarios you may encounter in the future. 

This ensures less risky moves for your business because you would have an idea of the outcomes of each move you might do. All of these benefits are reasons you need to up your business game with bookkeeping services.