9 Steps to Leading People Successfully through Major Organizational Change

Change in business is almost always a good thing, but often poor management means that the workforce becomes disengaged and the change process painful. In the worst cases, this results in irreparable damage being done. It doesn’t need to be this way. Follow these nine steps and empower yourself to successfully lead your people through major organizational change. Understand the change Make sure you understand exactly what is changing and how…  Read more

Seven Tips for Managing Managers

Managing people is one thing, but anyone with experience of managing managers will know that’s a completely different ball game. A management team that works in complete harmony is a rare and beautiful thing, but it never comes easy. In fact, it’s paradoxical to think it should ever be that a group of people with strong leadership and management skills will operate without conflict for any length of time. The…  Read more

7 Practical Tips to Trim Your Overhead Expenses

Every small business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. Regardless of the nature of your business, the first step to reducing your overhead costs is to take the time to go through every single expense you have. Next, assess which ones are necessary for your business to operate smoothly, what can be trimmed down, and what can be eliminated…  Read more

Tax Season Tips for Small Business Owners

Preparing for tax season is really a year-round endeavor. Tip number one for SMB owners is to update financials on a monthly basis, using a streamlined software or cloud-based system. This way, come tax time, everything you need is all in one place. And well organized SMBs are better positioned to minimize their tax bill while avoiding penalties associated with missing or inaccurate information. Here are four more ways to…  Read more

4 Ideas to Manage Customer Wait Times Without Hiring More People

Balancing customer experience against your budget is a difficult task. You need the right amount of staff working to keep customers happy, but not so many people that workers are standing around looking for things to do. If your customers have long wait times, that’s good news for you initially—it means your business is popular. The bad news is customers won’t wait around forever for you to fix your time…  Read more

Succession Planning: A Will for Your Small Business

The unfortunate reality is most business owners don’t take proper vacations. Usually this is because their business relies on them and they don’t have the support to keep the business running without them. As a business owner, have you ever considered what would happen to the business if you had to take a six months break because of a serious illness or injury? Would the business survive? How would the…  Read more

Want to Get Paid Faster? Update Your Invoice Template

8 things your invoice needs in order to get paid faster So you’ve set up your business and sold some products and services. Now, you have to send an invoice to collect your payment. But what should you include on your invoices in order to get paid faster? Even if you’ve been running your business for a while, you might be missing other information that you should include. So here…  Read more

How to Make Work-from-home Work for Your Team

Now more than ever, more companies are exploring their options when it comes to employees working remotely. There are numerous reasons for doing so: Increased worker morale More flexibility in work schedules Enhanced cost savings by not paying for office space. With all the benefits, it makes sense that employers are considering whether or not working from home can work for their team. Here are 3 steps you can take…  Read more

How Much Cash Does My Business Need?

Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. There is no single factor that determines how much cash every business needs to have on hand. Somewhere between 3-6 months of operating expenses is…  Read more

Planning the Year Ahead

The turn of the year usually prompts most people to think about some business planning for the year ahead. Here are some tips to make the planning more productive. Get your team involved Business planning works best when it’s a team effort. Involve your key staff and your advisors, such as your accountant, your mentor (if you have one), and others who can contribute meaningfully to the planning, such as…  Read more

4 Things to Consider Before Expanding Your Service Offerings

If you’re looking to grow your business, you might consider expanding your service offerings. Adding additional services is a good way to increase your profitability, diversify your income and expand your market. But there are important things to consider before adding to your income streams. Here are 4 important things to keep in mind when you consider adding to your services. 1. Does the expansion compliment your business? The best…  Read more

Managing Field Workers in Your Construction Business

It’s one thing to manage workers when they’re all in the same place at the same time. However, when you run a construction business with field workers, things can get a lot more challenging. Not only are you typically not on the same job site as them, you might also have workers scattered over a variety of sites and projects. Managing them doesn’t just mean scheduling them and making sure…  Read more

6 Vital Money Management Tips for First-Time Entrepreneurs

Financial management is a vital part of running a successful business, but often entrepreneurs start their business with little understanding of how to make solid financial decisions. Managing your finances is about more than bookkeeping and paying taxes—although those are also important to a sustainable business. It’s about managing cash flow, preparing for income fluctuations, and having the resources to take advantage of opportunities. Here are 6 money management tips…  Read more

Signs You’re Undercharging for Your Work

When it comes to the overall success of your business, one of the most important decisions you’ll face is how to price for the work you do. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Figuring out how much to charge is stressful, but it’s worth it. If your business doesn’t bring in enough money to pay…  Read more

Essential Tips to Grow Your Family Business

Most family business owners have a similar goal in mind – to grow the business and pass it on to the next generation of their family. While keeping the business in the family and getting to work with your parents, siblings, or children who share common goals can be a fun and rewarding experience, running and growing a family-owned business isn’t without its challenges. Conflicting views on business and family…  Read more

Ways to Benchmark your Business

For many business owners, determining the success of a business comes down to how much profit the company makes. Of course, finances are an important measure of a company’s overall success. If you don’t bring in more than you spend you won’t be in business for long. Profit, however, isn’t the only important benchmark by which to measure your business. There are other important factors business owners can and should…  Read more

7 Common Employee Onboarding Mistakes

While most small businesses spend a great deal of time and effort in finding the right employees, they often fail to capitalize on their newly hired talent by ceding the onboarding process to HR or neglecting their responsibility entirely. From long waits for workspace, equipment, or training to an overly negative recitation of ‘don’t do these things or you will be fired,’ employers consistently miss the opportunity to inspire new…  Read more

Managing a Cash Flow Crisis

Dealing with a sudden cash flow crisis, even if you’re working hard to avoid shortfalls, is hugely distracting. A formerly reliable customer might take much longer to pay than anticipated or a large consignment might fail to show up, leaving you out of pocket. If you’re starting a business, it could simply be taking longer than expected to turn a profit. Red light warnings Develop red light systems to warn…  Read more

4 Tips for Getting Your Business Through Tough Times

If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. It’s highly likely that the Coronavirus and it’s resulting impacts, could put some significant pressure on your…  Read more

What to do When Your Supply Chain Faces Disruption

If your company relies on suppliers in various geographic locations, it’s likely that at some point your business will face a supply chain disruption. Whether that disturbance is caused by a virus, regulatory lockdown, international tensions, changes in local laws or a natural disaster, there will probably be scenarios in which your suppliers or transporters face obstacles that affect your company. Here are some steps you can take to respond…  Read more

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