Identifying Your Weaknesses As A Business

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StrategyDriven Business Performance Assessment Program (BPAP) Article |Business Weaknesses|Identifying Your Weaknesses As A BusinessSmall businesses do a lot of things better than the competition. As an SME, for example, you’ll have tighter links with the local community, allowing you to strengthen brand loyalty. Also, having a limited budget means that you understand how and where to cut costs to maximize your funds.

On the flip side, you will struggle to perform some tasks to the same standard as everyone else. While there is nothing wrong with having weaknesses, it’s essential to turn them into strengths if you want to stay afloat. After all, your rivals will leave you in their dust if you don’t adapt and thrive.

First, you must figure out what the company’s weaknesses are as it will allow you to focus on the most important ones. Here are four common pitfalls that SMEs suffer regularly. It might come as a surprise how basic the following steps are.

Ask Others

Most posts will start by saying that you need to conduct a SWOT analysis. Working out your strengths, weaknesses, opportunities, and threats is a great place to start, but it doesn’t help you figure out what they are. With that in mind, it’s wise to ask other people for their opinions.

Employees will always be happy to help in this department because they are never satisfied! Bear that in mind when analyzing whether they are weak points or not as they could be little gripes that do not affect the business. Clients and customers are excellent research sources, too. All you need to do is ask them whether you can improve on the customer experience.

You should be open to constructive criticism. Some of the things you’ll hear will be out of the blue, and it’s easy to react poorly. Instead, write it down and move onto the next potential weakness. That way, you can review them in more detail later.

Perform Tests

Thanks to the wonders of modern technology, it’s possible to test various elements of your business to check for weak spots. A performance assessment of your server and internet connection is the best place to begin because the company relies on the Web. Professional network solutions are often necessary as they ensure the business is never offline and website upload speeds are high. Plus, quality services come with an assessment included.

Next, it’s time to test which areas of the site are getting traction from browsers and which ones are lagging behind. A/B testing is a fantastic tool for companies that can narrow the weaknesses down to a handful of features. If you don’t fall into this category, you should opt for multivariate testing instead. MV tests analyze several elements of your site simultaneously, helping you to figure out what is useful.

You should always perform assessments as they encourage growth and improvement.

Keep Tabs On Complaints

The first paragraph said you should ask customers for their opinions. Well, the good news is that you don’t have to – they’ll come to you if they think the standard is low. One in twenty-five shoppers will complain directly to you, whereas an additional 13% will tell up to five people about the experience. Thanks to the internet, you can find these complaints with ease.

Again, it’s about striking the perfect balance. Yes, some people like to complain, and they will do it regardless. However, there could be a couple of nuggets of information that will transform your processes and practices. The trick is to watch out for criticisms that pop-up more than once. If several complaints focus on the same point, the odds are high that they are right.

Responding to complaints and asking for feedback is a smart way to show you care and want to change.

StrategyDriven Business Performance Assessment Program (BPAP) Article |Business Weaknesses|Identifying Your Weaknesses As A BusinessCompare Yourself To The Competition

Comparing yourself to anyone is risky because there could be differing variables. As a result, the conclusions you draw will be flawed. Although that is true, it’s never bad to evaluate your business against the rest of the market. By doing this, you’ll figure out which areas you excel at, and which ones need some work.

A good tip is to keep it general. Check their website and see whether it’s more navigable than yours, or gauge whether they go the extra mile for customers for the sake of their experience. Doing this should provide perspective and encourage you to up your game to compete with your rivals.

Do you understand your business’ weaknesses? Hopefully, this post will help you address the imbalance.

5 Golden Rules for Managing Business Logistics

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StrategyDriven Tactical Execution Article |Managing Business Logistics|5 Golden Rules for Managing Business LogisticsManaging your business gets increasingly more difficult as you scale it, Thankfully, there are plenty of ways to ensure that your company stays organized as long as you adopt some golden rules to help streamline your workflow and logistics processes. So in this post, we’re going to talk about five important things to follow.

1. Proper planning is mandatory for an efficient logistics system

Before you make any sweeping changes to your business, it’s vital that you plan out all of your actions to ensure that you’re not missing anything and that you’ve included everything that is a part of your logistics chain. Planning is important because it allows you to get a better overall view of your business’s current logistics system, giving you a better look at the areas that need to be optimized and where you can maximize your profits.

However, what’s arguably more important than proper planning is the ability to prepare for any potential situations where your plans don’t work. Unforeseen circumstances aren’t uncommon regardless of the type of business you operate. Whether it’s a problem with your products, adverse weather conditions, transportation issues or even internal organization problems, you need to have contingency plans in place for when things go badly.

2. Focus on building solid relationships with third-party services

While you might manage most of your general logistics chain, there’s undoubtedly going to be areas that you need to rely on other companies–at least for now. Everything from outsourced drivers to a pallet delivery company can be considered an essential service for smoothing out the bumps in your logistics chain. In some cases, you might even need to rely on a warehousing service to help you store excess goods as you grow your company’s storage space.

However, if you find that you’re constantly forced to use external employees to help, you might find it more convenient to hire new staff instead as long as the cost of recruitment and training can offset the current cost of hiring temporary workers. Eventually, you’ll want to manage virtually every aspect of your logistics chain so that you have more control over it, but until then, it’s perfectly fine to rely on outside services.

3. Efficient warehouse management is the key to a well-oiled logistics system

Proper warehouse management, such as indexing of items, can help a considerable amount when it comes to optimizing your logistics system. This is especially important for companies that typically deal with items that are perishable, such as food items that need to be refrigerated. The capacity of your warehouse should also accommodate your needs. This can be difficult to measure unless you’re actively monitoring every aspect of your logistics chain, hence why analytics and accurate reports can be important.

Warehouse management also means having enough workers and equipment to store and retrieve orders as needed. This includes having staff that are knowledgeable of all the safety considerations of working in a warehouse, and also having access to forklifts and similar pieces of equipment to make their life easier.

4. Use automated processes to become more efficient

Whether it’s organizing goods or printing labels, automation can make your logistics chain a lot simpler to manage. With the right type of software and engineers to monitor and tweak it, automated processes could play a major role in the way you operate your logistics.

Automated tools are usually always a big help, but it’s worth remembering that they can be difficult to set up and are usually prone to problems. Make sure you do your research and trial any piece of automation technology you use before putting it into service.

5. Analytics will help you get an objective look at your logistics chain

We mentioned this briefly already, but having analytical tools to track different metrics is critical to the operation of your business. Warehouses benefit greatly from using analytics because it allows you to make informed decisions backed by real statistics and facts that you personally generate. It allows for smarter inventory management, it helps you expand when needed and it also works well with complex supplier networks.

In addition, analytics can also help you react to certain situations. For instance, if there’s a supply chain issue like a truck getting stuck in transit, then you’ll immediately notice there’s an issue. Using your analytical tools, you can make decisions on how to proceed. This can be done by examining current stock, how much the truck is carrying and also how long your current stock will last. You can even track financial objectives to see if you’re meeting your targets.

3 Law Firm Marketing Strategies to Implement in Your Firm

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StrategyDriven Marketing and Sales Article |law firm marketing strategies |3 Law Firm Marketing Strategies to Implement in Your FirmThere are over 442,000 law firms in the United States.

In a country of over 330 million people, you’d quickly assume law firms don’t have any problem finding new clients. You’d be wrong.

The legal industry is a competitive space, with big law firms dominating the market. The small firms, which are the majority, have to work hard to attract clients and generate the revenue they need to keep the lights on.

If you own a small firm, it’s time to stop working hard and start working smart. A savvy lawyer invests in effective law firm marketing strategies.

In this guide, we’re sharing a couple of ways you can market your firm and create a steady stream of clients.

1. Word of Mouth Is King

At a time when almost everyone is looking for businesses online, you’d be forgiven for shifting your entire focus to digital marketing. Don’t make this mistake, though. The business world is unforgiving.

Ensure word of mouth marketing is your #1 strategy.

You see, as consumers, we trust what our closest friends tell us. If your pal says product A is the real deal, you’re going to try it out without thinking twice. If another pal says law firm B offers the best legal services, why would you waste your time looking for another firm?

That’s organic word of mouth marketing at it’s best.

And the best thing about WOM is you don’t have to directly invest any money in it. Just offer top-notch legal services to every client you get and rest assured they’ll tell their friends about it.

2. Work on Your Law Firm Website

Even though word of mouth is a vital first step, digital marketing is still valuable.

Today, many people looking for legal services begin their search online. Even after a friend has given you a recommendation, you’re going to look up the firm online, as opposed to physically visiting their offices.

What impression are people getting when they visit your law firm website for the first time?

If the site is taking longer than 3 seconds to load, you’re losing a good chunk of potential clients. If it doesn’t load properly on mobile devices, you’re leaving money on the table. If the navigation isn’t intuitive, you’re losing customers.

Giving your website a refresh and optimizing it for user experience can increase the number of leads your firm gets and converts.

3. Invest in a Legal Lead Service

As a lawyer, there’s only so much you can achieve when you’re implementing marketing on your own. You probably don’t have proper marketing skills.

Outsourcing your marketing to a digital marketing agency is one way to solve this problem. Another way is to work with a legal lead service, such as this exclusive attorney service.

Unlike a digital marketing agency, a legal lead service focuses on lead generation. They have a pipeline of clients who’re ready to hire a lawyer. As such, when you buy leads from such a service, you’re assured of getting paying clients.

Implement These Law Firm Marketing Strategies

A law firm, just like any other business, needs customers or clients to stay afloat. And to get clients, you need to invest in marketing. With these law firm marketing strategies, you can now position your firm for success.
Keep reading our blog for high impact small business advice.

Property Investment 101: What Is a Real Estate Broker?

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Property Investment 101 What Is a Real Estate BrokerMany millionaires say one of the best ways to get rich is to invest in property.

That sounds like a solid plan and easy enough to pull off. But the actual process of buying a new property can be very technical and difficult to work through. Which is exactly why you may need a real estate broker.

Let’s take a deeper dive into what is a real estate broker and how they can help you.

What Is a Real Estate Broker?

There is some confusion among people new to the real estate industry regarding the titles “real estate agent” and “real estate broker”. They are, in fact, two different jobs.

A real estate agent is the bridge between the prospective property and the potential buyer. Agents often handle a lot of the research part of buying by matching listings to their client’s needs.

They work with the agents from the other side of the sale to find a deal that works for everyone. They then help their client through the closing process.

A real estate broker, on the other hand, takes their responsibilities one step further than an agent.

These individuals have completed more educational training than agents. In order to be given this title, they must pass another exam and be certified. This extra training includes deeper knowledge of real estate law and complicated transactions.

Real estate agents must work under a real estate broker. This is done to ensure that quality service is being given and standards are upheld.

A broker can work for themselves, work under another broker, or start their own brokerage. So they have a few more options than an agent or realtor.

What Does a Real Estate Broker Do?

The extra training that a real estate broker receives allows them to handle more during a property sale transaction.

A real estate broker can represent either side of a transaction (selling or buying) and each role comes with a few different responsibilities. Let’s take a deeper look into exactly what do real estate brokers do.

Seller Transactions

When a real estate broker is helping a client sell a property their main goal is to ensure that the desired price is obtained.

One of the first ways they do this is by helping their client get the property ready to sell. They won’t be doing the handy work, but instead, advise on things that could make the property more appealing.

Before someone can become a real estate broker they must be a real estate agent for at least three years. That time gives them a lot of experience in understanding what will help a sale and what won’t.

After the property is ready, they then list it on the MLS and other real estate sites. The broker will handle the advertising efforts needed.

When an offer is made on the property, the broker will handle the delivery. They will then advise on how to proceed (either countering the offer, accepting, or declining). Once an agreement has been made, the broker will help their client through the whole closing process.

A broker is especially helpful in the sale of a complicated property. They will know the best course of action to receive the best outcome.

Buyer Transactions

The responsibilities of a real estate broker who is working for the buyer-side of a transaction are fairly similar.
Instead of helping to list the property, they will use a list of client needs to search available listings and find one that fits. The broker will help facilitate any walk-throughs and viewings of the property.

Then they will help their client submit an offer, work through the negotiations, and eventually through closing on the property.

Other Roles

One of the main roles of a real estate broker is to help others perform their duties in the real estate industry.
A principal real estate broker is in charge of all of the real estate agents in their office. As we mentioned earlier, a real estate agent must work under a licensed broker in order to comply with the law.

This broker will oversee transactions and step in whenever they become complicated or difficult.

Principal brokers are often involved in real estate broker sponsorship as well. Any new real estate professional has to work with an approved, qualified person to activate their new license. This type of mentorship sets them up for success.

When to Hire a Real Estate Broker?

Most often during the sale or purchase of a property, the client won’t work directly with a real estate broker. They are more commonly involved with the big picture and overseeing all the agents in the firm.

It’s really beneficial to hire a real estate broker when you are working with a more complicated scenario, though. This might include a foreclosure, a short sale, or a multi-part property.

These sales have different requirements under the law and a real estate broker will have the training to understand these requirements.

Though not necessary, working with a real estate broker can bring greater peace of mind through your transaction. Their extended knowledge will give confidence that the transaction will be handled properly.

Find a Real Estate Broker

Real estate investment is often a very smart financial decision. This type of ownership can have real, lasting positive effects on your financial health.

But this type of investment is also intimidating, and sometimes, complicated. When these transactions are more than you can do on your own, hiring one of the more than 465,000 real estate professionals can make a big difference.

Now that we’ve answered, “what is a real estate broker” you can find the right one to work with. And they can find you the right property to invest in!

If you are interested in learning more about how to achieve maximum success in business, check out our other articles!

3 Ways to Improve Your Medical Office Management and Workflow

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StrategyDriven Managing Your Business Article |medical office management |3 Ways to Improve Your Medical Office Management and WorkflowThe sounds of phones ringing and multiple lights blinking to alert the front desk staff of calls on hold. Stacks of paper, and sticky notes littering desks, visible to patients. A stressed-out staff isn’t delivering the best service that they can. They can be overwhelmed with putting out fires constantly.

Would you come back to a medical office like that?

Earning a patient’s trust for medical care starts with the first experience with you. If a patient knows they have access to a medical care provider that values them, they are more likely to return.

A proper workflow and clear medical office management strategy can improve everyone’s experience.

Integrate Answering Services

One of the first things that medical office management can do is help with the incoming calls. Patients are still trained to call the office. They schedule appointments, inquire about prescriptions, and ask follow up questions to nurses and doctors.

If they can’t get through to speak with someone, patients can’t experience what you have to offer. Integrating a third-party app or website to help assist with calls during busy hours of the day can leave a burden on the staff.
When reception gets overwhelmed with incoming calls, an integrated answering service can help. Finding medical answering services that work for you can manage the influx of calls during busy hours.

An answering service lets patients know that their call is valuable. Medical office management will be able to communicate with patients better. Making sure that every call is answered, and messages relayed, helps everyone.

Scheduling Option Availability

Give patients a 24-hour, 7-day a week option. Allowing patients to schedule, cancel, and move their appointments is a way to ease the onslaught of calls to a front desk.

A scheduling app or website empowers patients. It gives them the peace of mind to have some control over their appointments.

A scheduling program can also record patient behavior and show a pattern behavior. Chronic canceling, last-minute reschedules that result in gaps–are missed opportunities to create income. Knowing which appointments to watch can help to get last-minute gaps filled faster.

Track And Observe Behavior, Hold Meetings

Create accountability in the staff’s practices and behaviors. This will help to streamline the processes of the office. Finding hiccups in the process, or where things start to back up, can help open ways to better work through an issue.

Holding both individual and staff meetings can address widespread and personal practices. This will help everyone assess what is working and what is creating more stress.

Get input from staff to find out what can be tweaked to get patient and staff concerns ironed out. This can help the medical office management address issues head-on.

Regular meetings can help get everyone on the same page, quickly.

Ready To Improve Your Medical Office Management?

Improving medical office management helps improve patients’ experiences in your office as well.
Have you implemented an answering service? What has worked for you in your office?