Three Ways Property Owners Entice and Retain First-Rate Tenants

StrategyDriven Managing Your Business Article | Three Ways Property Owners Entice and Retain First-Rate TenantsHave you ever rented to a tenant who refuses to pay rent on time, adhere to rental agreements, or get along with other property residents? If so, then you understand the value of a high-quality resident.  Whether you are trying to attract a reliable, considerate tenant with a stable income or are simply trying to keep one, these three techniques will increase your chances of finding a first-rate, long-term tenant.

1. Implement an Effective Tenant Selection Process

Quality residents are easier to find if you have a detailed screening procedure. Do not allow your need for a renter to prevent you from checking an applicant’s income, references, criminal history, previous eviction history and credit rating. Having the potential applicant provide references from previous landlords and employers will give you another opportunity to identify any red flags before generating a lease agreement.

2. Keep Your Property Well Maintained

Regular cleaning, painting, and appliance replacement will make your property look like a nice place to live. Property investment gurus like Paul Daneshrad understand that you must treat your properties as assets. Therefore, a landlord must keep their rental property impeccably maintained if they wish to entice good tenants to stay. Renters who make regular payments enable you to make repairs, comply with building code requirements, pay utilities and taxes, and supply other services to residents. You do not want to tick them off a tenant by not promptly responding when they inform you that something is broken. Keeping up with maintenance schedules and maintaining your property will reduce the likelihood of things breaking.

3. Use Effective Communication Strategies

Approachable, frequent, and clear landlord-tenant communication will help you build positive relationships. It is especially considerate for you to show flexibility in how you communicate with tenants, as some people prefer emails, texts or phone calls. Make yourself available in person and through all three of these communication modes. High-quality residents will want to stay long-term if you are easy to reach in the event of an emergency. Providing your tenant with a 24/7 contact goes a long way to building a trusting, professional relationship that will last.

Reliable and responsible tenants are hard to find, and not keeping them long-term can make your property management experience difficult. If you are choosy in your selection process, impeccably maintain your property, and practice frequent and clear communication, you are more likely to attract a trustworthy resident.

How to Improve Internet Speed in Your Office

StrategyDriven Managing Your Business Article |Internet Speed|How to improve internet speed in your officeOf the recent technological advancement we’ve adapted to, fiber optic broadband and Wi-Fi remain universally beneficial and high in demand. Internet connectivity can become slow and unreliable, causing delays in meeting deadlines and business loss. If you have been a victim of slow internet speeds that have caused massive losses from lost time and missed opportunities, consider improving your Wi-Fi speeds and trying these procedures.

Set up additional Wi-Fi

As business partners, potential customers, and random visitors visit your office for meetings and presentations; they will expect to access your internet. Activities that include document retrieval from emails, zoom meetings with virtual employees, or response to emails require reliable internet connectivity for your business operations to run smoothly.

Since issuing company network passwords to strangers may cause a security breach, consider obtaining a visitor’s Wi-Fi connectivity instead. Keeping your company network private will save you the pain of enduring ransomware attacks on your system that can cost you a lot of money to resolve.

Additionally, with a visitor’s Wi-Fi in place, you can always control the number of bandwidth visitors consume while in your office. Ensuring visitors don’t disrupt formal business operations by streaming videos that take long to download.

Secure your signal

Suppose your Wi-Fi connectivity is open and free for everyone to access. In that case, you are not only overloading your bandwidth but exposing your company to cyber-security threats that may lead to ransomware attacks.

Secure your network by setting a complex password and not easy to guess. If you have a set password that has been in use for a long time, consider changing it from time to time. Complex passwords may be cumbersome to type in your devices, but the momentary inconvenience is worth it to preserve your data and keep it secure.

As long as your old passwords remain intact, former employees, business partners, or random visitors can have access unless you secure it afresh. Though it may appear harmless, it is better to avoid any unforeseen risks.

Delete applications that slow-down bandwidth

Since your bandwidth is mainly limited, overloading it will cause slow internet speeds and an overall productivity reduction. To mitigate this, restrict applications that consume large amounts of bandwidth and delete others immediately after using them. Dissuade employees from streaming HD videos at work and regulate the internet for personal use to prevent slow speeds.

It would be prudent for you to know how much bandwidth your office requires to pick a plan that aligns with the workload. Furthermore, consider accounting for future business growth when selecting your bandwidth to cater for expansion and growth requirements.

Position your router correctly

Most entrepreneurs place their router on shelves where they are out of sight, stashed together with big office files and other office merchandise, to ensure the office appears tidy. Doing so blocks the router from receiving signals, but nearby technology can also cause interference.

Unfortunately, this is a big mistake and the worst place to position your router—experiment by looking for a strategic position with the most transparent signal and accessible to more employees.

Try placing the router close to where internet connectivity is required the most, such as near boardrooms. You can also try positioning it closer to the top to access better coverage. While many find it convenient to place it on the low surface, it may obstruct office furniture or people present in the room. Positioning it on high surfaces ensures less interference is very beneficial for signal access.

Boost your signal

Alleviate signal barriers by investing in a signal booster that weakens router signals by strategically positioning them. Proper placement of the booster will ensure the signal is transmitted and received to the entire office where the router is unable to reach.

Change the channel

When multiple routers have access to a single channel, it may cause overcrowding leading to internet interruption. Channels that have no congestion work better and therefore strive to examine and utilize them for better output and productivity.

Upgrade your router technology

If, after trying simple tricks like repositioning your router, boosting your signal, and changing the channel don’t seem to work, it may be time for a new and faster router to improve performance. Many new devices support multiple inputs and outputs and have additional capabilities to enhance productivity.

If you invest in a new router, make sure to invest in a better and faster computer to complement each other, save you time, and help meet set targets. Financial constraints shouldn’t be a deterrent in upgrading. A new router is beneficial to handle current technology as you prepare to upgrade the rest of your office.

Prioritize regular updates of both hardware and software, which will eventually reflect higher profits and a satisfactory customer experience.

Frequently inspect your devices for viruses.

A virus invasion can cause havoc on your computer sweeping away essential documents and bringing office operations to a screeching halt. Viruses such as spyware can operate in the background consuming large portions of your internet connectivity, significantly slowing down speed and efficiency.

Plug computers directly into the modem

For your Wi-Fi to maintain high speeds, consider plugging devices directly into the internet. For instance, using an Ethernet connection is more beneficial than a wired connection. To get maximum benefits and maintain faster speeds, consider upgrading your Ethernet cable as well.

Additionally, transferring files between computers with Ethernet connectivity is faster and better than using a Wi-Fi connection.

Distance from access points

If your location is very far from the router or access point is an apparent cause of slow internet speed. To solve this, move closer to the router, and if the router is located in a separate room, try working from that room and see if it fixes your challenge. Additionally, try moving the router to a different position that is higher where network obstruction is minimal or a central location where everyone will be able to access the internet without issues.

How contractors could be vital for your business in 2021

StrategyDriven Managing Your Business Development Article |Contractors|How contractors could be vital for your business in 2021The Covid-19 pandemic has forced businesses to change much about the way that they operate. Certainly, a company must be willing to adapt and change with the times in order to ride out the crisis. And in this regard, it is unsurprising that independent contractors have become in-demand through the pandemic.

Contractors offer a range of benefits to your business that are especially relevant in 2021: here are some of the ways that contractors could be vital to your company.

A more flexible workforce

Perhaps the most crucial quality that contractors can bring to a business is flexibility. The situation regarding Covid-19 changes so often that it is necessary for businesses to be able to be agile, and open to changing up their ways of working.
If you are used to working entirely with a salaried base of in-house staff who come to work 9 to 5 – this may no longer be ideal for the duration of the pandemic. It can be necessary to work differently, and contractors offer you a way to do this.

Keeping salaried costs down

In 2021 it is more important than ever that businesses look for ways to minimise their outgoings. It is the case for the majority of companies that salaries actually make up a huge amount of the overall costs to the company. It is also a fact that bringing in salaried staff is expensive, especially over time. Depending on the sector, businesses can use up to 80% of their gross revenue on salaries.

Using contractors is actually a really useful way to lower your salary costs. Yes, typically contractors will demand a comparatively higher hourly or daily rate than staff – but as they are used infrequently and only on specific tasks, this can make them effectively far more cost-effective.

The exact expertise you need

“Contractors are typically brought in because they are able to offer specific expertise that a business only requires for a single project or for a short time,” says Giles Knights, General Manager at ClearHub, a specialist contractor recruitment agency “this could include everything from DevOps specialists to digital transformation consultants”.

One of the major benefits of working with contractors is that you are getting their very specific specialism for the duration of a short period or over the course of a project. Rather than hiring a member of staff with more general skills or paying for a specific expert full-time to carry out tasks outside their field, this allows you to get the exact person you need for the job.

It also means that when the next project comes along and you need a different form of expertise, you can get it easily.

Suited to a remote working environment

Contractors are perfectly suited to the environment of remote work that has been necessitated by the Covid-19 pandemic. Many contractors actually prefer the flexibility and ease of working from home and might be very used to it.

Unlike hiring members of staff who might prefer an office environment, or simply don’t have a great deal of experience outside of it – contractors are regularly asked to work remotely.

Additionally, being able to recruit remotely means that you have access to a much broader range of talent. Now that you are more likely to have the kind of systems in place to allow for simple remote working, it is easier than ever to hire contractors who are based a long distance from you. This can make the task of finding the right person not as arduous as it may have been previously.

More talent available

There is another fact about contractors and the workforce generally that Covid-19 is having an effect on. Functionally, as there are fewer opportunities, there is a greater workforce available. This means that it is both easier and more cost-effective to get the contractor that you need for the job.

Clearly, it is important for businesses to be able to bring in the staff that they need if they are going to have a successful 2021. The fact that there are more contractors looking for work gives organisations the opportunity to carefully select not only for the right skills but also the people who come in at the right time.

Final thoughts

Contractors can be hugely beneficial to businesses of all sizes through 2021. They not only provide specialist skills in a cost-effective way, but also they are perfectly suited to the ever-changing working environment of the Covid-19 pandemic.

3 Common Problems Businesses Face (And How To Deal With Them)

StrategyDriven Managing Your Business Article |Problems Business Face|3 Common Problems Businesses Face (And How To Deal With Them)When you run your own company, you may encounter problems from time to time. While it would be great to avoid these stumbling blocks entirely, this is simply not possible. Instead, you should focus on developing a proactive approach to problem-solving. For example, each time an issue arises, you should take the time to figure out the following:

  • The immediate cause(s) of the problem.
  • The far-reaching effects of the problem.
  • How you can avoid this problem in the future.
  • What you can learn from your mistakes.

Although each business is different, many companies will deal with the same issues from time to time. This gives you an opportunity to learn from the mistakes of others and put certain steps in place that stop you from tripping into the same pitfalls.

With that in mind, here are some of the most common problems businesses are facing today and how you can deal with them should they arise.

Problem: Little or no public interest.
Resolution: If you want to succeed in business, you need to find a way to generate hype around your company, brand, or products. Essentially, you have to find a variety of ways to garner public interest, as this is how you will generate income and grow your business. However, when you are first getting started, it can be hard to make waves, especially if you are joining a market that is already overcrowded. However, there are various different ways that you can increase public interest. For example:

  • Hosting competitions or giveaways
  • Developing a social media presence
  • Promoting your services in print/online
  • Connecting with your customers and building a relationship with them
  • Collaborating with other businesses
  • Attending local/industry-specific events
  • Using a variety of different marketing techniques

Problem: Poor efficiency.
Solution: Inefficient practices are a drain on your time, money, and resources. For example, a lack of efficiency means that tasks that should take around twenty minutes to complete could take you several hours. While this may not seem like a huge issue, think about how much more work you could do in this time. One way in which you can boost the efficiency of your business is by using appropriate software. For example, if you work within the construction and engineering industry, you can use the software provided by RIB CCS. Their estimating, project control, and management software can improve your efficiency, control, compliance, and profits.

Problem: Quick Employee turnover.
Solution: While it is important to bring new employees into your company when you are looking for fresh ideas, you should also ensure you do what it takes to keep employees on board. Fast turnover rates could indicate that your staff are uninspired or that you aren’t providing them with a reason to stay. You can combat this issue by providing your employees with the resources they need to remain in their position – whether this is access to training or health benefits. Show them you appreciate them, and they will reward you with loyalty that allows you to thrive.

How to Make Your Retail Store a Success

StrategyDriven Managing Your Business Article |Retail store|How to Make Your Retail Store a SuccessLaunching and creating a store that sells clothes and other accessories is fantastic. It provides you with the chance to help customers find clothing that makes them feel happy and good about themselves, and it helps you earn a living too.

Whether you sell clothes that others have designed, or you make and sell your own clothing lines, setting up a store is one of the best ways to market what you have got to offer.

However, with so much competition out there, it can be difficult to stand out from the crowd. Taking time to create a store that is appealing and attractive to customers will ensure you get a decent footfall to your store (if you have a physical location). The same applies if you have an online presence either through your own website or selling platform. It has to be attractive and enticing, or people will not want to visit your store if it is not appealing to them.

Pay attention to the small details

In a physical store, this can be anything from the signage you use to the fixtures and fittings that you will use, including Retail & Display Mannequins that show your products off. Don’t underestimate how products can affect the design of your shop, and don’t underestimate how much lighting and color schemes can affect your customers. It can influence how long people browse for and, most importantly, whether they purchase or not.

Focus on your customers

Customers can make or break a store, so ensure your customers are at the heart of your business. Ensure that every customer has a good experience. Consistency and quality are very important in customer care and satisfaction. Unhappy customers can lose you business very quickly, so keep your customers happy. Monitor your customer care and service, and always ask existing customers for feedback. Any feedback you get will help you see where you are doing well and also where they may be any underlying problems or issues.

Stay competitive

You have a good product, so you will always get customers, right? Well, no, having a good product is one thing, but staying ahead of the competition is another. Very soon, there will be others emerging in your market, so you need to stay ahead of the game. You need to be introducing new stock that keeps your store fresh, and you need to be doing at least one product launch a year. A good product launch will keep your customers happy and keep them coming back for more time and time again.

Don’t be greedy

Making money is of course, nice, but people should always come over and before profit. It is much better to build a store that you will get repeat custom from overtime, than to be greedy and build a store that is here one minute and gone the next, or one that sells products at highly inflated prices. Opening a store is a marathon, not a sprint, so work hard to build relationships over time to help you make a living.