Top tips for reducing waste in the office

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StrategyDriven Managing Your Business Article |Reducing waste in the office|Top tips for reducing waste in the officeReducing waste in the office is one challenge that companies are trying to tackle every day. After all, reducing waste helps businesses operate more effectively and improves efficiency. This, in turn, helps companies grow. This article outlines some top tips for reducing waste in the office.

Do an energy audit

This is one of the best ways for companies to reduce waste in the office. An energy audit enables companies to identify where they are wasting energy and how they can use green technology to save money. For example, an energy audit may reveal that a company is using too much paper and ink. This information can then be used to determine if a company needs to invest in a paperless printer.

Recycle effectively

Recycling should be a staple part of everyone’s life. This is also true for businesses. Companies need to ensure that they are recycling as much as possible, though this does require some investment. However, it will help companies save money in the long term and protect the environment even more so. For example, most businesses now recycle paper, which helps them save money on buying more paper.

There’s no doubt that recycling in your office will save you both time and money later down the line. Some of the most common items that companies recycle include cardboard, paper, and plastics.

Invest in green tech

Using technology effectively can help businesses both reduce waste and save money. For example, many companies use online tools to draft contracts. This means they don’t have stacks of paper lying around their office. Green tech is constantly growing, so it’s worth looking around for the latest apps or software that can help you reduce waste in the office.

Go paperless

As well as using technology to draft contracts, companies can also use it to replace paper. For instance, many businesses now send emails instead of letters because email is faster and more convenient. Replacing paper with technology means that your company will reduce waste and save money on expensive printing costs. It also reduces waste because it cuts down on paper usage.

Reuse supplies

Many companies now try to save as much money as possible by reusing supplies. For example, most companies will order the same supplies every month, so they don’t have to spend time researching them. This means that you can reuse paper cups, shopping bags, pens, and other items without reducing efficiency. It also helps you reduce waste because it encourages employees to pick up fewer new supplies when they are in meetings or out of the office.

Ink is another good example. Rather than buying a new printer cartridge every time it runs out, companies can refill their cartridges with ink. This significantly reduces waste and saves money.

Renegotiate your utilities

Renegotiating your utilities is another way that companies can reduce waste in the office. For example, some businesses now renegotiate their contracts with their energy suppliers to get a better rate and save money on bills. Businesses should consider renegotiating with all of their utility providers as this will help them cut costs and reduce waste.

Why Your Business Needs to Conduct Research

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When you are trying to run a successful business, you need to think about all avenues of the company. And this means you have to consider the key techniques that will help you when it comes to success as a company. There are a lot of ideas that play a role in helping you to improve your company, and this is something that you need to focus on.

There are a lot of things every new business needs to succeed, and there are a lot of ideas and elements that you have to think about when it helps you achieve this. You need to try to think about some of the best ways of helping your business conduct the right research to help it grow, and these are some of the reasons why that matters so much.

You Need a Grasp of Data

Data is one of the key aspects of running a modern company, and this is something you should be looking to make the best of. There is so much data and information that modern businesses are needing to deal with these days, and you need to come up with some of the key ideas that will help you improve upon this. You have to make sure you understand the data your company is dealing with, as this can have a huge impact on the way your company can be more successful.

It’s Important to Know Your Market

Knowing your market is one of the best ways of being able to take things that further and be successful as a company. You have to conduct market research in order to get a better idea of your audience and the people you should be trying to focus on. Now, there are a lot of factors that play a role in helping you to know your market and understand your business more effectively. And research is one of the most pertinent ways of being able to achieve this moving forward.

Have a Plan for the Future

You need your company to have a plan for the future, and carrying out statistical analysis of data, as well as things like meta-analysis can help you when it comes to improving the business and making plans for the future. You need to know about the best ways of being able to achieve success and have a plan for the future, which is something that research and analysis can help with, as it gives you the information and data you need to plan for the future.

You have so many ideas that you can use when it comes to improving your business and planning for the future. There are a lot of ideas that you can use to help you when it comes to making the most of this, and there are a lot of elements that play a role in this. Trying to focus on conducting research and understanding data is really important when it comes to taking things to the next level.

6 Ways to Save on Maintenance Costs for Your Business

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StrategyDriven Managing Your Business Article |Maintenance Costs|6 Ways to Save on Maintenance Costs for Your BusinessThough you may feel like you have no extra room in your budget, there are almost always ways to save business costs without cutting corners and compromising on quality or safety. One of the often overlooked areas is maintenance. Here are six tips for saving on maintenance costs for your business.

Buy wholesale maintenance products

Certain maintenance products are non-negotiable. Though they may not seem like a huge expense, if you’re buying them in small quantities as you need them, you’re almost certainly spending more than you need to.

Look for cleaning equipment suppliers that offer wholesale cleaning products. While it may seem like you’re buying more than you need, many cleaning products don’t expire, or if they do, have extremely long expiry dates.

Act preventatively rather than responsively

While it may be tempting to avoid making repairs on things before they’re needed, giving your facilities and technology attention only when a problem arises significantly increases the costs. By developing a solid understanding of your maintenance needs, and knowing when you should be conducting servicing, you’ll be able to save extensively on materials, supplies, and labor.

Conduct assessment on the current schedule

To accurately determine the areas you may be able to make changes in, you need to develop a thorough understanding of your current maintenance schedule and procedures. If you don’t currently have the right reporting in place to obtain this information, arrange a meeting with the relevant stakeholders and put this infrastructure into place.

Proper reporting produces the right data, and data are essential for determining where you’re wasting resources, as well as the areas that require more attention.

Invest in the proper equipment and technology

If your equipment and technology are outdated, chances are you’re not running as efficiently as you could be. You’re also likely to be spending more on maintenance than you would be with newer technology. Replacing your old infrastructure might seem like a hefty upfront cost, but by calculating the costs of maintenance over time, you may find that replacement is the more affordable route in the long run.

Improve efficiency through training

While having efficient technology is important, it’s only part of the equation. To save on maintenance, you need highly trained staff that know exactly what they’re doing, and how to get the job done efficiently. If you haven’t already, make sure you set up regular training sessions for staff. In addition to formal training, ensuring communication is effective is also important.

Improve written communication through email and memos between maintenance staff and managers, and hold regular meetings to discuss areas that need improvement to create actionable strategies to meet those goals.

Make warranty claims

Most equipment comes with a warranty option for a small additional fee, or at no additional cost. However, consumers and corporations rarely take the steps to make a warranty claim when something goes wrong.

While the amount recuperated by a warranty claim may seem insignificant, multiple warranty claims over time add up to a substantial sum. When purchasing a new product or equipment, make sure you inquire about warranty terms and keep this information on file so that it is readily accessible in the case you need to use it.

4 Steps to Build a Strong Board of Directors

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StrategyDriven Managing Your Business Article |Board of Directors|4 Steps to Build a Strong Board of DirectorsBuilding a board of directors can be difficult, but getting it right is essential. A well-run board of directors will help you achieve your strategic goals and ensure the long-term success of your business, whereas a disorganized and inefficient board will stunt business growth and harm profits and revenue.

Here are four steps you should take to build a strong board of directors:

Step 1: Choose board members wisely

You need to elect board members who have skills and expertise that align with your strategic business goals. Ideally, board members should have leadership and management experience in a field that is related to your business. They should also show a commitment to your organization and have the time and energy to fulfill their board responsibilities.

Step 2: Elect an experienced chairman

The chairman will preside over board meetings and facilitate good board governance and leadership. They will take on a senior and crucial role in your board of directors, and you must choose the right person for the job.

Research the characteristics of a strong chairman and elect someone who has several years of experience in a similar role. You need someone that can advise you on the best board governance practices, after all. Remember that the chairman you elect will have a significant impact on the overall effectiveness of your board of directors, so don’t make the decision lightly.

Step 3: Select the right number of directors

You must consider how many board members you will need for your company. According to advice on thebalancesmb.com, “five to seven members is plenty for small organizations. Larger, more complex organizations might want to select between 9 and 11 members at the minimum.” Various studies have found that organizations with a smaller board size tend to perform better than those with an excessively large board of directors.

Keep in mind that not every organization has a board of directors, and you might not need a formal board. An advisory board may be a more suitable option, especially if your company is small or a start-up. You can then transition to a formal board of directors when your company grows and becomes more complex.

Step 4: Offer effective board orientation

When a new member joins your board of directors, you must provide them with an effective orientation to prepare them for the role. Make sure this covers the roles and responsibilities of board members, your company background, and your strategic objectives.

An effective orientation process will make new board members feel welcomed and keep them engaged in their work. It will also provide them will the tools and knowledge that they can hit the ground running and add value to your organization.

Summary

Assembling a board of directors that will add value to your business can be a difficult and daunting task. However, you must get it right, as your board will play a vital role in business growth and development.

Follow these steps to create and maintain a strong board of directors that will drive profits and help you achieve your long-term objectives.

5 Things You Need to Know Before Signing a Commercial Real Estate Lease

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StrategyDriven Managing Your Business Article |Commercial Real Estate Lease|5 Things You Need to Know Before Signing a Commercial Real Estate LeaseA commercial real estate lease involves an agreement that enables businesses to rent commercial property from a landlord. Commercial leases can be full-term, net, and modified gross leases. Its identification, negotiation, and signing process is long, which is why you should know the steps involved so you can make informed decisions.

A commercial real estate lease is legally binding. This is why you should understand the lease contract as it defines your rights and responsibilities and those of the landlord. Below are things you need to know before signing a commercial real estate lease.

1. Research the area

When looking for a commercial property, researching the area will help you understand the prospective clientele. This is because location is everything for a business to thrive. Bearing in mind that once you sign the lease it becomes legally binding, and it may take at least two or more years before the lease term ends, ensure that the potential location is ideal for your business.

Consider seeking professional help for the ideal business location from industry experts like Jeff Tabor Group. They can also advise you on the benefits, differences, and value of different buildings within your preferred location, helping you make an informed decision.

2. Know the zoning laws

Zoning laws direct the development of real estate and may affect the operation of a business. Depending on your kind of business, research the municipality laws to ensure that you can run within that locality without facing any legal problems. Ensuring that your lease agreement aligns with standard zoning laws of the area will allow your business to operate without interference from local authorities.

3. What do you know about the landlord and the building owner?

At times, the landlord may not be the building owner. Before signing the lease agreement, ensure that you know who the landlord and the building owner are, their financial capacity and if they make good on their payments. This will help you protect your business should anything go wrong. For example, if a landlord doesn’t make payments to the building owner’s account, you may end up being evicted even if you made your payments on time. Conduct thorough research to ascertain that you’re signing the right deal for your business.

4. Find out about the nuisance laws

Once your business opens its doors, you want it to run without limitations. Before signing a lease, familiarize yourself with nuisance laws and check any smell, noise, and equipment clauses and negotiate where necessary. Look out for any environmental regulations governing the building you intend to lease to ensure they aren’t against your business.

5. Don’t forget the lease statutes

When reviewing your lease document, pay attention to the rent structure to determine your monthly payments, by what your rent will increase and after how long, so you can look at your budget and decide whether you’ll stay. Don’t forget about the lease term. Consider how a short- or long-term lease will affect your business. Find out about expenses like property taxes, insurance, maintenance, utilities, repairs, modifications, security, and more.

Endnote

Commercial real estate leasing can be tricky, especially when you lack the proper knowledge. Consider the above tips and advice from industry experts before signing a lease agreement.