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Things to Know Before Starting a Small Business

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StrategyDriven Starting Your Business Article |Starting a Small Business|Things to Know Before Starting a Small BusinessIt’s pretty brave. Gathering your skills and wits to set sail into the unknown world of a new business venture takes real courage, whether folks admit it or not. There’s just so much you have to keep in mind at all times when you’re starting something new.

Everything will be up to you, ultimately, especially during the early stages of the development of your business. Staffing, rosters, marketing, and even finding ways to send a fax online; will all be your responsibility in the final reckoning. That’s the job of being an owner.

Seeing the Bigger Picture

Bigger picture thinking is probably something you do quite well, or you wouldn’t be embarking on this journey to begin with. But, being naturally adept at something doesn’t necessarily make you a master of it without concerted effort.

You’ll have to be able to see exactly how your business will interact within the specific context in which you’re planning to operate. This means developing it from the ground up. You will need to have a very thorough grasp of precisely what it is you’re adding to the market.

Not only will you need to be intimately familiar with the larger perspective, but you’ll also be the one who makes it visible to your team. For this, you’re going to have to be a positive motivator and leader, which is where a lot of entrepreneurs thrive and shine.

The Devil’s in the Details

The flip side of the wider context is those pesky details. Once all the big stuff makes sense, you’re likely to find that it’s all the smaller things that conspire against the entrepreneurial spirit.

Until you’re in a position where you’re able to hire specialists in these nitty-gritty areas, you’re going to have to manage it on your own. Very often, it will seem as if you’re trying to plug a levee that keeps springing new leaks, but there’s no other option.

It’s asking a lot of anybody, but the business world slows down for no one, and the only solution is to have a panoptic view of every single thing that takes place. From the big dream all the way to the littlest feature, all is within your purview.

Know the Law

The last of these three considerations is by no means the least. Having a decent grasp of the laws surrounding your specific business is essential to success, as even businesses with a low legal footprint still have HR regulations and tax laws to navigate.

If your business model involves higher contact with areas of law, such as environmental impact assessments, you will have to become conversant in those areas too. It would be a shame to have created something great, only to run afoul of a legal hurdle somewhere.

Concluding Word

Creating new businesses is what keeps the world ticking along. Every economy on Earth welcomes this pioneering zest, especially because it isn’t easy. You have to be all things to all people, the big idea person and fount of all knowledge rolled into one.

Risk and reward are the binary poles, though, so if you can manage to master the context, the detail, and the legal stuff all at once, you will also be the master of your new life. It’s the start that’s the most difficult of all, however once the ball starts rolling it will gain momentum.

Cutting Expenses: Why Wholesale Solar Panels Are For You

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StrategyDriven Managing Your Business Article |wholesale solar panels|Cutting Expenses: Why Wholesale Solar Panels Are For YouWe all want to save money and if we can help the environment, then even better. Wholesale solar panels are a great way to decrease your overall electrical costs and help reduce your carbon footprint. Power plants use non-renewable energy sources such as coal and natural gas to generate the bulk of electricity.

Solar panels reduce the dependence on these fossil fuels and can decrease your electric bill in the process. Solar energy has come a long way through the decades and is more efficient than ever. This guide explains the benefits of solar panels and solar panel installation.

Wholesale Solar Panels Have Great Efficiency

Solar energy has been around for a long time. The earliest solar panels had little efficiency and weren’t capable of generating enough electricity to power a home. It wasn’t until the 1970’s that research into solar energy took off thanks to a push by the federal government.

As the efficiency improved, businesses used the technology to create electricity, but it was out of reach for residential applications. The last couple decades have seen great strides and the price of solar panels for residences has decreased significantly.

It’s not not only a viable option, but the government offers tax benefits for people who install solar panels.

Decrease Electrical Costs

The upfront of solar panel installation is high, but over time it saves you money. Solar panels, if taken care of, can last decades and provide most of the power for your home. Instead of relying on the power grid, you make your own.

Photons emitted from the sun hit the photovoltaic cells on the panel and create electricity. As long as the sun shines, they generate electricity. We’re surprised you’re not already looking for a “solar company near me.”

If you have a battery connected to the solar panels, then energy is stored and used throughout the day and night. You can have electricity even when the sun isn’t out.

Solar Installation and Care

It’s important to choose the correct solar company to install the panels. If you want to save money, then you need to have maximum output. You need installers that specialize in solar panel installation,

Purchasing wholesale solar panels means you’re cutting out the middleman and getting them at the least expensive rate. You can’t beat that.

Once your panels are installed, they need to be maintained. The installers should tell you what needs to be done and when. If the solar panels get dirty or broken, then their efficiency decreases as does their lifespan.

You can have years of inexpensive electricity by choosing the proper installers with a great reputation and taking care of the panels through the years.

Get Your Solar Panels Today

Wholesale solar panels are a great investment for your home and it helps the environment. You get them at the least expensive price and generate pollution free electricity from your home.

If you want to learn more about solar energy or going green, then please explore our site.

Productivity Shortcuts For Stressed Human Resources Professionals

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StrategyDriven Practices for Professionals Article |Productivity Shortcuts|Productivity Shortcuts For Stressed Human Resources ProfessionalsGetting on top of all your HR obligations is a massive challenge. There’s just so much work that needs to be done on a typical day that it can make your head spin. That’s why, in this post, we take a look at some productivity shortcuts that you can use to get more done in less time. Check them out below.

Set Priorities

One of the reasons that you feel rushed off your feet all the time is that you’re not setting priorities. Some jobs are more important than others. So when you leave them to the last minute, it makes you feel like you’re racing against the clock.

Setting priorities allows you to get all the most critical work done first. In the morning, spend 10 minutes putting all the tasks for the day into various “bins” representing your priority list. Start arranging them into perhaps five categories and then work your way through each of them. If high priority tasks arrive during the day, return to category 1 and start working your way through them again. This way, you can use your time more effectively.

Choose The Most Challenging Tasks First

People tend to be at their most productive in the mornings. That’s why it’s a good idea to do your most challenging tasks first. Don’t leave them until later. Get them out of the way and then save all the easy stuff until the afternoon when you’re feeling more tired and sleepy.

Avoid Multitasking At All Costs

Ignore the propaganda about some people being good at multitasking: it’s mostly untrue. You’ll get more done if you block time for specific activities. Focus on one thing at a time and you’ll get more done throughout the course of the day.

Use Productivity Tools

Not sure how to sign a PDF electronically? It’s actually way easier than you think. Mostly, you just need the right tool.

Want to organize your colleagues’ time more efficiently? There’s a tool for that too.

In fact, you can find productivity apps for practically any rote task that you find yourself doing daily. Make sure that you use them.

Meditate

This might sound a little strange, but it’s a good idea to meditate daily. Being an HR professional is a tough gig. There are so many pressures on your time that you can sometimes feel rushed off your feet. Avoid this through daily meditation and focus. Remind yourself that your work isn’t your life. It’s just something you do to make your leisure more enjoyable.

Set Work Sprints

Work sprints are a relatively new concept, but they tend to work exceptionally well. Instead of slogging through every day like one long marathon, take shorter sprints followed by breaks. Many people in the HR profession, for instance, like to work-sprint for 45 minutes and then take a break for 15 minutes at the end of it to recharge. Then they do it all over again. Research shows that breaking up the day like this can actually increase productivity.

6 Steps to Scale Your Small Business

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StrategyDriven Managing Your Business Article |Scale your business|6 Steps to Scale Your Small BusinessScaling should be a primary objective for all business owners. Scaling up your business will improve efficiency, boost productivity, and increase your bottom line. Scaling your business might seem like a difficult or impossible task, especially in today’s economy. However, you can achieve sustainable growth with careful business planning and determination.

Here are some steps you should follow to scale your business and increase profits:

Step 1: Evaluate your business

You need to evaluate your business and check that you are ready to grow. Scaling a business requires investment and you must make sure that it’s the right step for your company. Take a good look at your business and identify what you need to do to increase sales and profits.

Planning is a crucial part of scaling a business and you should take the time to write a detailed expansion plan. Consider your growth objectives and what action you will need to take to achieve each goal. For instance, you may need to hire more skilled staff to handle larger order volumes and increase sales revenue. According to business.com, your growth plan should include information on business expansion opportunities, financial goals, and a growth marketing strategy. You can download a template online to help you write a detailed business growth plan.

Step 2: Calculate the cost

Scaling a business usually costs money. You may need to hire new staff, purchase technology and equipment for your business, or invest in your marketing campaigns to achieve growth. You should calculate how much money you will need to scale your business and decide where you are going to find the funds.

If you have profits built up, then you could use this capital to invest in your growth strategy. You could also take out a business loan or look for investment to boost your business. Take a look at this article by Fundbox for 10 different business financing options. Weigh up your funding options carefully and choose the best option for your business needs.

Step 3: Start outsourcing

Outsourcing is one of the most effective ways to scale up a business. When you outsource, you will have more time and resources to invest in growing the core areas of your business. You can outsource various business activities including recruitment, marketing, customer support, and human resources. Experts at HR Dept explain how they help Matlock businesses by handling their HR needs so the businesses can focus on the most important aspects of their business.

Think carefully about what business activities you could outsource and form partnerships with skilled professionals and companies. Outsourcing will help you grow your business and it is also cheaper than hiring more permanent staff.

Step 4: Invest in technology

Modern technology will make it easier to scale your business and increase profits while conserving valuable resources. There is a wide variety of technology that can streamline your business operations and boost efficiency. For instance, automation technology can improve productivity, reduce labor costs, and lower operational expenses.

Evaluate your existing systems and consider what technology could improve your business. You could install chatbots to enhance the customer experience or invest in communication software to improve collaboration between your team members. Make sure that you invest in technology that will give the best returns.

Step 5: Expand your team

If you are planning on scaling up your business, then it is likely that you will need to hire new staff to accommodate growth in your company. Invest in your recruitment strategy and take the time to attract and hire skilled employees who will support your expansion plans. According to uschamber.com, you can hire quickly by leveraging recruitment software and automating interview scheduling.

If you have an urgent need for skilled employees while you are scaling your business, then you should consider hiring freelancers or outsourcing to specialists. This approach is often more cost-effective, especially if you’re unsure whether you will require permanent staff long-term.

Step 6: Increase sales

Increasing sales is essential and you must create a strong sales strategy that will help you boost revenue and profits. There are dozens of ways to increase sales e.g. by offering loyalty programs to improve customer retention rates or selling your products to international customers. Think about which sales tactics will be most effective in your business.

Summary

Scaling up a business can be a challenge, but it might be easier than you think. Above, are six essential steps that you should take to scale your business and increase revenue. These powerful growth strategies will help you scale your company and meet your strategic goals.

Engagement: 5 Pragmatic Solutions to Apply Today

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StrategyDriven Practices for Professionals Article |Employee Engagement|Engagement: 5 Pragmatic Solutions to Apply TodayIt’s not perks and policies that move the dial on employee engagement. It’s the boss’s behavior. If you’re a boss, here are five tools to up your game.

Just about everyone in the U.S. has a cell phone. No news there, right? According to the Pew Research Center, in 2018, 99% of 18- to 49-year-olds, 97% of college graduates, and 98% of people with household incomes of $75K+ owned a cell phone. And nearly just as many people had access to the internet. The upside of these stats is positive, and the pandemic proved it. During long periods of isolation, we had technology to stay connected when we couldn’t physically keep in touch with one another.

But even pre-pandemic, a downside to this connectedness was observed in workplaces across the globe. With more technology—and, as a result, more data—came less face time. Managers and supervisors became glued to their reports, their screens, and their devices. Since technology became our third arm, we’ve gone heads-down and are less physically connected at work. Our leaders at every level have become less visible and their presence less felt.

At least, that’s what our observations from some 30,000 assessments have revealed. The more advanced the company’s technology, the less prone leadership is to be out on the floor, walking and talking with their teams. Even casual connections have become less purposeful. While the boss may still be in the game, using data to report what’s going on, he or she may not be perceived to be so by employees.

It’s time to show you’re in the game

Before the pandemic, engagement scores were terrifyingly low. If you sat in a meeting of 10 people, potentially eight of them were not fully present. Some of them could even have already mentally quit but stayed on. They weren’t engaged in your business, or worse, they may have disengaged and been actively working against you.

Take some consolation in the fact that you aren’t alone. These stats are global and ubiquitous the world over. But clearly, this knowledge isn’t helpful if you’re struggling to make your numbers, trying to achieve that next level of performance, or looking to transform your business. You need to aim for a 10 out of 10 engagement score. You need everyone to be all in.

So, how do you move the dial?

Tip 1: Get in the game. Lift your nose out of your devices, go heads up, and get in the game. Look, listen, and learn about what’s going on around you and how your team is feeling and performing. Prioritize people connections over internet connections. Whether you get out on the floor or attend more team meetings, get visible.

Tip 2: Practice HeadsUp leadership. When you routinely raise your head from your device and connect with people, you start to practice HeadsUp leadership, one of the simplest ways to immediately create better relationships with your teams. Doing so also results in safer, more productive, and engaging workplaces. Why? Because you see and hear things you can’t when you retreat to your reporting and devices.

Tip 3: Build a rhythm into your day. To help your team perform, use what we call “1.5.30.” Every day (1), check in for a quick catch-up. Every week (5), check in for 30 minutes to talk about overall performance progress. Once a month (30) check in for 60 minutes for a deep dive into how the job is going.

When you move this routine into a rhythm, you earn the right to provide performance feedback and to coach and guide people. But you also learn what you need to do to help people be successful by finding out what’s holding them back and developing your own action plans to improve the ecosystem in which people work.

Tip 4: Finetune your management behaviors. Do your own behaviors engage your people and kick-start continuous improvement? Are there clear objectives to your conversations? Do you and your teams plan assignments and agree on how often you’ll review progress?

Executed well, these behaviors enable your team to self-manage the variances out of their day—the difference between what was planned and what was actually achieved—and decide when they need your help.

Tip 5: Adopt the right tools. Do your management tools help you not only report results but also systematically plan and manage them? Are you using your forecasts, plans, schedules, reports, and action-planning tools to know which resources you need to do what, where, when, and how? When you have the right tools, you know exactly where you are and where you need to be. Which enables you to do what’s most important: engage with your teams to close any gaps.

What should be clear from these tips is how closely related engagement is to performance and operational results. Engagement gives you a multiplier. When you manage to engage, you address the healthy side of business (what we call humanize) and the fit side of business (what we call the optimize). Bring the two together, and you balance people, productivity, and profitability. While it’s great to add perks and policies for better engagement, what really moves the dial is when you manage to engage.

About the Author

StrategyDriven Expert Contributor | Pamela HackettPamela Hackett is the Global CEO of the international consultancy Proudfoot. Throughout her 35 years in management consulting, she has advised, led, and guided some of the world’s most prominent companies and brands through major change. Her new book, Manage to Engage: How Great Managers Create Remarkable Results, is a compendium of ideas and resources that will help any business focus on what matters—their people—to be more productive and profitable. Learn more at pamelahackett.com.