Streamline Your Business Technology In 4 Easy Steps

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Investing in the right technology is essential for any business, but it only benefits your company if you do it correctly. Overcomplicating their IT systems is one of the more common mistakes that businesses make and it leads to a lot of wasted money and confusing processes which harm productivity. But if you can streamline your business technology, you’ll find that it works far more effectively and you’ll save some money at the same time. Here’s how you can streamline your business technology in 4 easy steps.

StrategyDriven | Managing Your Business | Streamline Your Business Technology In 4 Easy Steps

Understand Your Current System

Before you can start making any changes, you need to understand your current system. You might be thinking that you already understand all of the technology that your business uses, but chances are, you don’t. You need to speak with your employees and understand how they are using technology day to day, and how it improves their ability to work productively. You also need to look through a breakdown of everything that you’re paying for and ask yourself what benefit each piece of software or hardware brings to the business. If you can’t work out how something benefits the business, why are you spending money on it? Once you have a good idea of where you stand, you can start finding ways to streamline things.

Identify Your Needs

Often, businesses overcomplicate their technology because they do not consider their needs when purchasing software. Instead, they are drawn in by marketing and they buy things on the promise that it will improve their business, even if they don’t really need it. It’s important that you use a needs based approach and think about the problems in your business that need to be solved, then invest in software to meet those needs. If you do it that way, you will be able to make technology investments that improve your business and stop wasting money on things that you don’t need.

Invest In Cloud Solutions

Keeping all of your systems updated is important, but when you overcomplicate things, it can be difficult to stay on top of it all. But if you invest in the right cloud computing services, you can have them manage all of your systems and keep them updated, rather than handling it in-house. That makes things a lot simpler for you, but you still get the benefit of using the latest technology.

Integrate Software

The best way to simplify your business technology is to integrate your software. When you are buying new software, you should always look for applications that work seamlessly with the software that you already have in place. Trying to use multiple programs that don’t work well together will really slow things down for your employees. But if you can integrate everything properly, it will all work perfectly and you should see an increase in productivity. Trying to manage integration can be tough, especially if you don’t really know what you’re doing, so it is best to call in an IT consulting company to implement everything for you.

Follow these steps and you can successfully streamline your business technology and save yourself a lot of time and money.

A Guide: How to Stop Wasting Money in Business

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StrategyDriven Managing Your Business Article | A Guide: How to Stop Wasting Money in BusinessTurning over a profit isn’t the only important task that you face as a business owner. You also need to consolidate this money that you make, which is why you need to avoiding wasting it at all costs.

It’s going to mean making use of all resources afforded to you, it’s going to mean making smarter investment choices, and it’s going to mean honing in on your mistakes — it’ll all be worth it in the end, though, when you’ve got a heap of cash to invest into the growth of your business.

To unearth all the things you can do to stop wasting so much money in business, be sure to read on.

Minimize your tax bill

Nobody likes the tax man, but unfortunately, he’s never going to go away. There are, however, ways to minimize the bill slapped on your desk every year.

To minimize your tax bill, you should:

  • Keep a track of your business expenses (receipts, invoices, vehicle mileage, etc.) and then seek to claim for them
  • Tap into the Annual Investment Allowance (AIA)
  • Research and make use of tax reliefs (such as the creative industry relief)
  • Pay your tax bill as early as you can

Invest in good website design

Marketing, especially digital marketing, is essential in the world of business. By not running advertising campaigns, quite simply, you won’t spread your company’s message or attract new customers.

As important as marketing campaigns are, however, they need not cost you an awful lot. More to the point, they need not cost you as much as you are no doubt currently shelling out on them. When you choose to invest your money on good website design instead of advertising, you’ll be sure to find yourself saving thousands in the long run. This is because you’ll have a platform that can act as a constant source of important information; your website can spread your message at all times, meaning you won’t have to constantly spend your money on spreading it yourself.

To ensure that your website does everything a marketing campaign can do and more, you have to align yourself with a web design company like Plego Technologies. They will make sure that your website works well in both a practical and aesthetic sense.

Turn off and unplug your devices

Even when they’re not being used, if they’re still plugged in and turned on, the various devices that you use in your office could be costing you an arm and a leg. They will be using up what is known as ‘vampire energy,’ which means they will be draining your electricity bill for no reason whatsoever.

Before you leave your office of an evening, you and your employees have to go around and make sure everything is turned off and unplugged. Other important forms of action you should be taking in this instance include:

  • Tweaking your power settings so as to ensure your devices shut themselves down or go into hibernation mode whenever they’re not being used
  • Resolving to never leave your desktop computers and laptops on their screen savers — believe it or not, doing this is worse than leaving your monitors and screens to go black
  • Never forgetting the peripherals (your printer and speakers, for instance), as they can suck up a lot of ‘vampire energy’ too

Take the above advice, stop wasting so much money, and put the cash you save to good use!

Improving Your Business With Technology

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StrategyDriven Managing Your Business Article |Technology |Improving Your Business With TechnologyTech has a significant impact on everything we do. From how we wake up in the morning – via that digital alarm clock or your mobile phone. Smart homes where we can turn lights on, set our thermostat, and even make coffee. So it makes sense that technology is going to be good for business. There are more applications for it.

Let’s take a look at a few ways that you can improve your business with technology.

Flexibility

Where once upon a time you’d need to be in the office for each meeting, and communications was a long and arduous process now Slack is commonplace. Big corporations have their in-house versions of instant messaging software too. So you can work from anywhere, anytime and still have access to the people that you need. This gives your team and your the flexibility that wasn’t possible 10 or so years ago.

Hiring

With so many people using the internet to find new jobs and create networks, of course, it makes sense that tech is improving how we now build teams and talent pools. In fact, you can now implement AI in HR and have the process even more streamlined than ever before.

It also means that you can also build a global freelance team. Using various sources, casting a wider net you have access to talent that you haven’t really had until recent years.

Marketing

Marketing is now fast, and anyone can do it. Yes, not everyone can do it well, but there are so many only resources now that it can be easy for almost everyone. Technology has given us tools that can do everything from automating months of content to collating precisely the information we need to take actionable steps.

Email marketing has taken center stage and means you can reach out to your customers in a way that wasn’t possible before. You can utilize all of the social media platforms and reach millions of people, which is substantially more than more traditional marketing in a magazine or a newspaper.

Tools like Buffer, Sprout, MissingLettr and Planoly give us a lot of freedom.

Productivity

You can do everything better and faster. Which is excellent news, because the less time you have to spend on busywork, the more time you have to spend on growing your business, building your network and putting all of that analytics and numbers to work. Tracking your time, creating Pomodoro focus times, Trello boards with a list of tasks you need to do – and share with your team. Task management software gives us so much extra time.

Of course, as with everything, you have to find what works for you personally and for your business too. Not every piece of tech will make sense for you and your company. So when you are trialing new technology take your time and see what is a match. Improving your business with technology is essential if you intend to grow and move with the times.

Relocating Your Business Internationally: A Guide

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StrategyDriven Managing Your Business Article | Relocating Your Business Internationally: A GuideDeciding to relocate your business can come down to a number of factors. Perhaps your service or goods would find more success in a different country. Maybe you’re ready for a new challenge, or a family reason has prompted the move. No matter why you want to move to a new location, there are several considerations you need to keep in mind to ensure it runs smoothly.

The Location

If you’re moving due to a family reason, you will no doubt already have a location in mind. Perhaps your partner or spouse would like to return to their home country. However, if you are relocating to find a new challenge, determining the best place can be tricky. Would your products work better in a hotter climate? Or are they ideal for a country which experiences harsh winters?

Once you’ve chosen the location, you should begin to look for the best place not only for your business to be located but for you and your family also. It’s a challenge to view new homes online, so if you can, try to plan a visit where you can visit a number of properties before choosing one. If you have decided to move to Egypt, for example, Capital Egypt specializes in real estate Egypt and will help you find the ideal property.

Create a New Business Plan

When you began your business, you will have created a business plan. This critical plan will have detailed your idea, the funding you required, the profit you expected to hit in the first year and beyond, and more. However, it’s likely that in a new country, this business plan will not be applicable. That’s because the market will be different, you’ll face different challenges, and you may even require extra funding to get the business off the ground quickly. For that reason alone, it’s time to create a new plan, one which takes into account the new market.

Research the Market Thoroughly

Following on from the above point, when you are relocating your business to a new country, it’s crucial you research the market you’ll be entering. Who will your target audience be? It may be very different from your current audience, depending on the see economic climate, lifestyles, and more. Your market will also be able to show you if you require further funding once you arrive in the new location, or whether you will be getting more bang for your buck once you move.

The Legalities

The legal structure which you used in your home country may be completely different from your new location. In the UK, should you employ workers, you will need to adhere to the Health and Safety at Work Act 1974 and the Equal Pay Act 1970, to name a few. In contrast, to carry out any business in Egypt, a foreign investor must either establish an Egyptian subsidiary or a brand, which will typically be a joint stock company or a limited liability company. Ensure you are aware of your legal status before making the move.

 

How To Overcome These 3 Common Business Obstacles

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StrategyDriven Managing Your Business Article |Business Obstacles|How To Overcome These 3 Common Business ObstaclesNew businesses face several challenges, from financial difficulties to issues affecting brand reputation. As a business owner, it is vital that you have procedures in place to help you overcome these obstacles, to ensure that your business continues to grow and be a success. With this in mind, here are three common business obstacles and how you can overcome them.

1. Brand reputation

Brand reputation plays a vital role in the growth and success of any business. In this digital age, customer feedback travels fast, and many people rely heavily on the reviews of other consumers when making purchasing decisions. Often, new businesses lack the experience of more established companies, and this can lead to issues such as slow order fulfillment or delays in response times. If you find that your business has received some negative feedback or reviews, then it’s crucial that you take action straight away to resolve any issues. Here are some top tips to help you restore your brand reputation:

  • Respond to any written complaints on your social media sites straight away and publically. Doing so will allow potential customers to see that you are dealing with any customer issues quickly and providing a good level of service.
  • Focus on providing the best customer experience possible. Be honest with your customers and never promise more than you can deliver.
  • Consider installing customer support technology like life chat software. It can be used to provide your customers with instant 24/7 support with any queries.
  • Offer customer loyalty schemes to demonstrate that you value their business. This should also encourage valuable repeat business and referrals.

2. Debt

Most businesses require some form of funding in order to get up and running. Unfortunately, some businesses find themselves in debt and unable to make repayments. This can be due to a number of issues, such as unexpected financial emergencies or poor cash flow management. Try to avoid this by only ever borrowing as much money as you can afford to pay back and having a clear plan in place to make the repayments. If you find yourself having issues with debt collectors, then make sure that you seek legal advice to help you fight lawsuits over debt. It is important that you understand what options you have available to you in this situation and take the best course of action to help protect your business in the long-run.

3. Cash flow

The Telegraph mentions the importance of cash flow, with a large percentage of small businesses failing because of cash flow issues. It is vital that you manage your cash flow effectively and monitor your finances regularly, to ensure that you are sticking to your cash flow budget. Always keep in mind that if your business expenses are more than your income, then you have a cash flow problem. You, therefore, need to manage your spending carefully and look for ways to cut expenses to give your cash flow budget more flexibility. Make sure that you take advantage of accounting and management software that can help you manage your cash flow and finances more efficiently. Finally, you should always store important documents like cash flow spreadsheets in the cloud, so that you can access them remotely from anywhere.