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Is It Time to Upgrade Your Office Setup?

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StrategyDriven Managing Your Business Article | Is It Time to Upgrade Your Office Setup?

Whether it’s a home office or the top floor of the tallest building downtown, upgrading your office space can transform your business’ productivity more than you might expect. While you might have a sleek and stylish office already, it can always be better. Upgrading your office could spark increased creativity, satisfaction, and a feeling that you and your employees can get this done, whatever this might be.

But where do you fall behind when trying to upgrade your office? There are so many things to consider, from the equipment you use to your surroundings. Here are some tips on what to consider upgrading your office setup and reaping the benefits.

The Equipment

Whether it’s your computer, office chair, desk, printer, or even desk toys, upgrading the equipment in your office can make everything run smoothly. If you’re looking for increased comfort, investing in better ergonomic chairs for you and your employees will prevent the back stains and complaints. Likewise, company-provided laptops will make it easier for everyone to complete work from home.

When upgrading your office chairs, you have many options available. For instance, many modern office chairs are popular because they have ergonomic, aesthetic designs. They’re usually made of metal and leather for durability and longevity. For instance, Steelcase office chairs and other ergonomic chairs have either aluminum or platinum base with steel adjustable armrests, leather backing, and seating. They deliver full support for different body sizes and shapes, providing a perfect fit.

As mentioned, you may also want to upgrade your office desks. Office desks come in different designs. You might want to install standing desks, like adjustable height desks, to promote your employees’ comfort. This type of desk is adjustable to prevent unhealthy, prolonged sitting. Furthermore, you can install corner desks to use office space efficiently.

In addition, a vital factor to consider when upgrading your office desk is the surface material. Whether you prefer one with some storage drawers below or a desk to securely hold your desktop computer, the material reflects how the desk feels and looks in the office.

There are too many businesses that rely on old equipment because they don’t feel it’s worth upgrading it. But outdated equipment can ruin productivity and lead to nothing but frustration for your staff. If you’re looking for a happy office with top morale, the best place to start by investing in shiny new toys for them to play with.

The Systems

Network systems are something you must keep up to date, as this ensures that you can keep your data and information safe from hackers and similar security threats. Investing in robust Network Cabling Services will make this a reality and also mean that you have a system you can rely on.

It might also be worth thinking about upgrading the operating systems that your company uses. While most people will use Windows 10 or macOS 10.15, company computers seem, curiously, stuck in the past, with some machines still running Vista. While this could be considered more secure than others, it also cannot handle the programs that could be beneficial for your business, so even jumping up to the next generation would make a huge difference.

The Energy

Being energy efficient is a significant thing in the modern business world, and it doesn’t matter if you work from home or run a large office, you want to do everything you can to save money on your energy bills.

Upgrading from your existing, migraine-inducing fluorescent lights for something more comfortable on the eyes is the first step. Still, you can also consider looking for a way to bring more natural light into the office. It is, however, unlikely that you’ll be able to replace windows outright. Even so, you can think about rearranging the office layout to make the most of the light and space available.

The Surroundings

No one wants to sit in a dull and study office, but while you don’t want to fill it with too many distractions, such as a ping pong table or something similar, it doesn’t mean you can’t still have fun with the overall design of the office.

Everything from employee artwork to house plants dotted around will create an atmosphere that you and your employees will be glad to work in. It will provide a sense of personality to the office’s overall style and design, and make it a place where you and your staff will feel comfortable, relaxed, and ready to get on with the day.

The Policies

If you’ve not already noticed, the professional world is changing. Companies are embracing the opportunities of working remotely, allowing flexible hours, as well as outsourcing tasks that will help others free up their time so they can perform better.

It could be that it’s time for your office to update its policies and see the benefits that doing so can bring. Studies show that flexible working can increase employee productivity, despite some believing the contrary. This will only prove beneficial to your business and the morale of everyone in the office.

Space to Breathe

Not every office needs to be a painfully minimalist adventure in subtlety. You can use it to reflect your company and your employees. The days of the stuffy office are long, long gone, now it’s all about personality and oomph to motivate and drive employees, even if the only employee is yourself. Whether you are upgrading your office systems or its surroundings, there is always something that you can explore to boost your satisfaction, security, and quality of service.

Here’s How Your Business Can Benefit From A Business Grad

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StrategyDriven Managing Your People Article | Here's How Your Business Can Benefit From A Business Grad

Have you ever heard the phrase ‘’be your own boss’’? Yes, I think everyone does. Do you take risks? If you don’t take risks, you will always work for someone who does and will be fulfilling their dreams instead of your own. You are never too young to start an empire and never too old to start a new dream. If you are thinking to pursue your passion as a career you will do anything you can to grow your business, but sometimes you wonder, are you taking your business in the right direction? Is your approach correct? Are you making effective strategies because you want to gain that competitive edge against your competitors?

You want to be a strong entrepreneur; firstly, you need to understand the market. The foremost step in building a business is to bring your attention to the customer. Another major step is the need to identify your competitors. In any business, you will have to face three kinds of competitors. The one is direct (same product), the other is indirect (same product and services with different end goals) and the third one is the replacement (substitute product). Every business needs an organizational structure along with the passion and the skills that are needed to grow upon a business. An important factor while dealing with the business market is the efficiency of human resources. Having the right employee raises the bar of profitability and benefits in finding a balance between the organization.

As a system needs to be updated, the business affiliated employees also need to update themselves. This means taking a step further in the right direction. Employers need to consider employees with an MBA online degree which will take the company in the right direction and bring expertise and generate profit for the company. Here’s how your business can benefit from an MBA grad.

1. What is MBA?

Master in business administration is a degree that helps in developing the managerial skills of business affiliates. This degree also helps in making strategies for an organization that helps in generating profits along with helping in building effective skillsets for the company. This degree is practical for business affiliates but is not limited to government, private sectors, and other areas. This degree is considered to be one of the most popular degrees across the globe. Hence, there are a lot of alternative methods for achieving this degree.

2. Time Management

Studying management helps in building patience and bring out time management skills. It helps to understand the need to complete a task in a limited time which is not easy. Getting an MBA degree itself prepares a person to handle multiple projects at once and manage time efficiently. This helps a business affiliate to sharpen the skills which further help in meeting deadlines. Furthermore, it helps avoid procrastination.

3. Identifying the Weaknesses

It is not easy to identify and understand the weaknesses and sometimes you just keep on stalling a task to avoid it. For business grads, stalling is never an option. They understand the need to overcome a hurdle and the effect it would have on an organization if they did not. These weaknesses can easily be addressed by having conversations and delegating on the after-effects and working on the options. This understanding helps the organization more than anything else.

4. Network Building

Socializing is very important in aspects to run an effective organization. The material they learn in the classroom can be valuable in developing business strategies but it’s the people whom they meet during the process are even more valuable in terms of social investments. During an MBA degree, there are several people they connect with who can help you further and can bring great value to a business. They can be classmates, teachers and might be the people who are linked with them, so a social circle is generated which helps in bringing outcomes for the organization.

5. Quick Reflexes and Thinking

When it comes to decision making, business grads make it easier for you. As working in an organization, a lot of decisions are needed to be made in day to day operations. They help in making effective marketing decisions. Since the MBA grads know every possible thing the business needs due to their broad exposure, this helps them in making quick and reliable decisions. It helps in not only the day to day operations but also helps in making trustworthy decisions at strategic and managerial levels.

6. Develop an Efficient Process

There are a lot of processes and programs that are running in an organization. There are underlying math and logistics behind every operation that is happening. MBA grads, due to their broad exposure and horizon understand the initials of a process thus it helps them in building a strong base for the organization. They analyse the process analytically and try to resolve the issues effectively which helps them in generating more profit for the company.

7. Effective Writing and Communication Skills

Since there is a lot of writing and generating material in a business degree, this helps in building creative and interesting content for the organization. Your emails and ways of communication reflect on the professionalism of an organization. With a lot of writing and knowledge, a message could easily be conveyed adequately. These skills help in building a suitable image for the organization in front of the clients and within the industry.

8. Holistic Approach

It is very important to expand your horizons and view business in a bigger picture. There are a lot of aspects in an organization, a lot of tasks some minor and some major. MBA grads can understand the importance of what needs to be taken care of and when. This approach, in general, helps the organization and brings in revenue for sure.

9. Leadership Qualities

MBA degree provides a lot of exposure and knowledge. This knowledge helps the employee in making effective marketing and taking strategic measures for the company. They can think analytically and strategize accordingly. All these skills make them great leaders who can actively run the organization building a strong base.

Conclusion

There are a lot of factors that are to be considered while working in an organization. It is very important to understand the process and steps that help in the building of an organization. The skillsets and qualities that an MBA grad brings in an organization help the company to move in the right direction. They are the ticket to bringing greater projects with their expanded social circle and their extreme knowledge about the pros and cons of a project. These effective employees bring great revenue and provide amazing assistance to the organization with their critical thinking, so it never too late to hire an MBA grad.

How to Start a Business That’ll Succeed: A 10-Point Guide

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StrategyDriven Starting Your Business Article | Starting a Business | How to Start a Business That'll Succeed A 10 Point GuideIt is only natural to worry about failure when starting a business. However, don’t let the fear stand in the way of what could be a profitable company, which could potentially change your life.
To set yourself up for success, you need to understand how to develop a strong business model and to avoid the potential pitfalls that could thwart your venture’s growth and profitability.
To kickstart your idea, here are 10 helpful points to help with starting a business that will succeed.

1. Find Your Passion

Never launch a business for the sole reason of making money. If an idea or industry doesn’t light a fire inside of you, then avoid it at all costs.
You will need to dedicate a significant amount of time and energy into building and maintaining a successful enterprise, so it’s critical to love what you do.
It is this passion that will help to push through setbacks, gain in-depth knowledge about the industry, and wake up every morning with the sole aim of growing your brand and acquiring new customers.

2. Gain Experience

A lack of experience could lead to a lack of success in your chosen industry. For example, if you have your heart set on opening your own restaurant, you must gain experience in the food industry.
You’ll need a solid understanding of the level of hard work, passion and commitment required to run a restaurant, as there is more to it than hiring a chef and marketing your venture.
Gaining experience will ultimately provide the tools you need to kickstart a successful restaurant or could prevent you from making a big mistake.

3. Earn a Business Degree

Aspiring entrepreneurs would be wise to earn a business degree, which will provide them with the in-depth knowledge and skills they need to run a small or large company.
There are now several superb degrees budding business owners can choose from. For example, you could embark on a Masters in Business Administration online, which will take 18 months to complete and you can customize the course to suit your needs. You could also study health management, operations management, global leadership, or supply chain & enterprise resource planning. It can prove invaluable for those hoping to start their own business in the near future.

4. Start Your Business While Employed

Don’t quit your day job because you have a great business idea. It could potentially take a long time until your new venture generates a profit.
A part or full-time job will keep money in your pocket while you’re developing your budding brand. Once your business considerably increases its profit margin, you should quit your career to focus on your new company.

5. Start Networking

You don’t need to wait until your business is officially up and running to start networking. Line up potential clients or customers by reaching out to individuals, brands and organizations. For instance, you can form connections via LinkedIn, ask professionals for advice, or attend local networking events or groups to develop strong relationships in your chosen industry.

6. Write a Strong Business Plan

A business plan will provide your new enterprise with a roadmap to success. It will provide your company with a direction, as you’ll need to set objectives, define strategies, and set targets to work towards. It can, therefore, prevent you from sinking your time and money into unnecessary areas of the business.
In addition to providing you with a sense of direction, the business plan can also help you communicate your vision to potential partners or investors, who could be integral to your company’s success.

To write a strong business plan, you’ll need to:

  • Perform market research
  • Feature detailed information about your marketing strategies
  • Identify your target audience
  • Determine potential obstacles
  • Feature realistic goals

7. Turn to the Professionals

The prospect of performing every internal task yourself might seem a little daunting, which is why you’ll be happy to know you don’t need to go it alone when running a new business. For example, unless you have experience in bookkeeping or accounting, you could outsource a professional accountant or bookkeeper, who could save you more money than they could cost you.
You also must not cut corners when writing contracts either, which could lead to potential legal and financial issues in the future. If you don’t have a law degree, hire a lawyer to write up a contract for you. Never perform tasks you’re not qualified to do, as it could lead to your company’s downfall.

8. A Financial Investment

Think carefully about how you will fund your business. If you don’t have money in a savings account to rely on, don’t expect to walk into a bank to secure a loan, as most traditional lenders don’t like new ideas.
They also are often only willing to work with entrepreneurs with a proven track record in business.
Rather than skimping on different areas of your business, which can inhibit your growth and damage your brand, you should consider the following financial options:

  • Approaching potential investors
  • Saving money out of your own pocket
  • Crowdfunding
  • A business loan from a lender or loved one
  • Refer to your business plan to estimate exactly how much money you’ll need to get your new business off the ground.

9. Develop a Cohesive Brand Identity

Mixed messages, different color schemes and varying tones of voice can lead to a confusing brand, which will indicate a lack of professionalism and attention to detail.
Your website, social media profiles, brochures, flyers and print ads should feature a consistent voice and message, which will help you to develop a standout brand that will convince your target audience to become a customer.

10. Choose Your Team Wisely

When the time comes for you to hire your first employees, you must ensure you build your team wisely. Not only must they have the appropriate skills and qualifications for a role, but they also should have a positive, hard-working attitude and their personality should complement your desired company culture.
As a result, you can create a strong, productive and passionate team, who will help your brand to grow from strength to strength throughout the years.

The Dos And Don’ts Of Creating Effective Business Videos

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StrategyDriven Online Marketing and Website Development Article |Business Video|The Dos And Don'ts Of Creating Effective Business VideosCreating valuable and interesting videos is one of the smartest things you can do if you want to get incredible results for your business. Your audience are more likely to watch a video, and far more likely to be entertained by it than by a blog post. A video can get across information in a much shorter amount of time, too, meaning you can spread your message easily and effectively.

If you’re thinking of creating effective videos for your business, read on for some dos and don’ts that will help you.

Do Offer Something Of Value

Don’t just make videos for the sake of making videos. You should offer something of value to the people who will be watching. Could you create a how-to tutorial, or give tips of some kind? Sharing your expertise will go a long way to ensuring people watch your content again and again.

Don’t Make It Boring

Although you’re providing value and trying to help your audience, there’s still no reason that your videos should be boring. Try to make them entertaining. Speak in an engaging way. Use a fun background and demonstrations. Do a little more than sit there and talk in a monotone voice.

Do Edit It Carefully

You will likely need to edit your video when you’re done to ensure it is as streamlined as possible. You may need to edit out moments where you take a long pause or lose your train of thought, for example. It also looks more professional if you don’t see you messing with the camera before/after the video.

Don’t Forget To Show Off Your Brand

Make sure you consider your brand throughout the video, and how you can use this as an opportunity to show people what your brand is all about. What is your brand voice and personality and how can you incorporate this? Think about it carefully and ensure you are consistent across all of your videos.

Do Know Who Your Target Audience Is?

You should know your target audience like the back of your hand. People who watch pharmaceutical videos are likely going to be very different to those who watch home DIY tutorials. They are two very different audiences and should be catered to accordingly. Make sure you create a few personas so you can work out how you’re going to entertain and engage the people watching.

Don’t Post The Same Thing On Every Single Platform

Posting the same thing on every platform can be a mistake. You’ll usually post a very different video on YouTube compared to TikTok for example, although both could be beneficial to your business. Make sure you know the differences between each platform.

Do Pay Attention To Your Video Analytics

Looking at your analytics will give you an idea of what is working for you and what you can perhaps improve on. Looking at these closely will help you to make better content in the future!

How will you make effective business videos? Leave a comment below!

How to Boost Your Profits

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StrategyDriven Managing Your Finances ArticleAmerica is built on the spirit of entrepreneurship. There are over 28 million small businesses nationwide, and a further 22 million that are solely operated. That’s a large number of businesses that contribute to the country’s economy. However, the number of businesses that fail within the first four years is a significant 50%, and out of the survivors, only a third will reach a decade.

Running your own business is a challenge no matter what industry you are in or the products and services that you provide, and there is no singular reason for these failure rates.

Common Reasons for Business Failure

Failing to plan

For your business to be a success, you need to make both short and long-term plans. You need to identify your goals and define objectives that will help you reach them, from the next few months through to the following years. Your goals will shape every business decision you make and give you direction. They need to be quantifiable so that you can assess how successful the actions that you take are. This is important; how will you know what is working and what isn’t if you have nothing to measure?

Ignoring customer needs

The customer is always right. That’s a correct statement, surely. Not always, but it has you relate to your customers that will affect the success of your business. In the digital age that we live in, there has never been a better time to truly understand your customers’ and clients’ needs and wants. Always keep an eye on what your customers want and tell you about your business; their perception of your business may be very different from what you intend. They are fickle, and your business needs to be able to respond to emerging trends, feedback and correspondence. It requires flexibility and patience, but if you not only listen but hear to what your customers say, you will reap the rewards.

Lack of profit

Lack of profit is very different to lack of revenue. Your business turnover may be high, but that does not mean that it is a profitable business. For your business to grow, the profit needs to flow. There are several reasons for a lack of profit: poor management decisions, cash flow problems and premature scaling; all can be related back to a failure for adequate planning. Only 40% of small businesses are profitable – the others either break even or lose money. If your business is not making a profit, you need to assess every aspect of your business so that you can identify why you are not.

How to Boost Your Business Profits

The quandary you have is how to generate more sales while reducing your expenditure. While your current efforts have been successful to some extent, you must maximize the opportunity to turn a profit.

Modify your strategy

You need to implement a new strategy to do this. Research online about how other successful businesses in your niche have succeeded. The chances are high that they have switched to a more relationship-based model that uses technology to improve their customer experience and loyalty. Here is an example of how this change in strategy has been used to grow a law form, check it out.

Increase the product selection

To increase sales, identify which products you can cross-sell to existing clients and customers. You already know that they are interested in your niche, but are there other relating products that your customers will buy from elsewhere? An example of this is for a yoga clothing company to sell yoga mats. The key to making this cross-selling strategy work is to comprehensively understand who your current and target customers are. Know what they want and what they need. You can incentivize your customers to buy more from you by offering bundles and discounts.

Review operational procedures

There will always be aspects of your operational functions that can be improved upon. The Japanese word ‘kaizen’ translates as improvement, and is the name given to a strategy that works on the principle that all employees work together to improve process incrementally. Kaizen is a valuable mindset to adopt and can dramatically reduce waste and improve a business’s profitability. It is imperative that you get all staff members on board and seek their feedback on how to improve your business’s function.

For example, a sub-total column on an invoice can help speed up the efficiency of your accounts department; introducing cloud-based technology so that your teams can collaborate easier, or even something as simple as moving the printer’s location to be nearer to the receptionist can help to make working more efficient. Kaizen is not a one-off experience, consistently aim to improve efficiency. Ask your employees for their recommendations and act upon the information that they give you.

Regularly review expenditure

You may just have been focusing on the income and profit columns of your account reports; however, you need to pay equal attention to your costs. Businesses evolve over time, and so you need to make sure that your regular outgoings are still relevant to your business today, and not based on historical data.

Review your running costs and identify areas that you could save money. Rolling contracts are a great way of controlling cash flow as you know how much money is leaving your account and when, but they can also make you complacent to other deals that are currently up for grabs and can save you money.

Are there routine tasks that you can outsource? Or, would it be more cost-effective to hire someone on a part-time or freelance basis to complete jobs that you currently pay for a full-time member of staff or do yourself? Outsourcing can be a great solution to boosting efficiency and profits; you only pay for the project that you need completing.

You should also review your suppliers. There may be better market deals that you can access that may not have been available when you started out. It can be risky, as there is potential to damage the relationship you have with your current supplier, but it is worth opening the conversation up, just tread carefully.

While it can seem daunting to undertake such a thorough review of your business, it is critical for your business to be a success. You need to adjust your business to the changing times and embrace technology to help your customer’s user experience and increase the efficiency of your organization.