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3 Resource Management Tools for Streamlining Efficiency

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StrategyDriven Resource Management Article | 3 Resource Management Tools for Streamlining EfficiencyIt’s a hectic time to be managing a business. The stock market faces high volatility, set to continue throughout the year. Even if your business isn’t public, you’re feeling the ripples of changing trends.

Addressing new problems during the pandemic makes resource management for your business’ usual operations difficult. These issues are human resources nightmares and slow production, putting you off-schedule. If you can’t handle the avalanche of responsibilities and challenges, your business is at risk of failure no matter whether it’s established or starting out.

Thankfully, resource management tools are available to help you. If you’re short-staffed, this software can fill in. Keeping track of everybody remotely is easy with the right technology, too.

To learn more, take a look at this list of three popular resource management tools.

1. A Solution for Every Problem

As an up-and-coming business, it’s hard to keep track of all of your resources and responsibilities. Managing inventory, planning, sales, and human resources as the head of a small business is a lot to ask of one or a few people.

Epicor ERP is the perfect resource capacity planning software to take charge in all those areas. Its wide variety of tools takes a huge amount of pressure off of you.

Managing your business won’t be a disorganized headache anymore with Epicor ERP. Instead, you’ll have everything in one place and maximize productivity. Using this software, you’ll get more out of your workday.

2. Integrate All Your Apps

Many companies rely on a series of popular work apps to conduct business. Young startups at the highest risk for failure are most likely to use these tools. Yet, constantly moving between Google Calendar, Slack servers, Github, and other accounts are hard to manage.

Toggl Plan is a top resource management software that lets you integrate these apps and more. Communicating is easy with Toggl Plan, and your team will work like a well-oiled machine. Toggl is used by some large businesses like Netflix and Airbnb, proving its usefulness.

3. Resource Management in the Design World

Plenty of top resource planning apps work well for businesses in all industries. Communication and human resources needs are common between businesses, and most have some kind of schedule to manage.

Still, businesspeople in industries like architecture and marketing have particular needs.

10,000ft is popular in design fields like these. Its project and resource matching abilities streamline production processes. It has a tracking feature as well to make sure you stick to your timelines.

If you’re a fan of SmartSheet, you’ll probably like 10,000ft. They acquired the company and are planning on integrating it eventually. For right now, it’s a separate service with its own cost.

If you want to give it a go, they offer a free trial.

Maximize Efficiency and Your Success

Now that you know these seven vital resource management tools, you can implement them to optimize your company. Once you’re set up with this software, it’s time to look at improving other areas of your business.

Lucky for you, you’re already in the right place to learn everything you need to know. Click around the site and find the information you need to succeed.

Providing Your Staff With Everything They Need

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StrategyDriven Managing Your People Article | Providing Your Staff With Everything They Need

When you first start out with your small business, chances are you do everything yourself. That or you employ the help of third party, outsourced freelancers to complete more complex or specialist tasks that are outside of your skillset, such as creating a website or shooting product photography. Hiring staff doesn’t tend to be the first thing on any new business owner’s list. After all, employees are costly and you take on a big responsibility when you hire them. But as your business begins to grow and expand, you’re going to have to take on permanent staff at some point or another. It’s impossible to run a medium to large size business independently and employees will help to keep things ticking over and moving in the right direction. When you do take on staff, it’s absolutely essential that you understand their needs and provide them with everything that they do need to carry out their jobs effectively. Here are a few areas to focus on!

Carry Out Surveys

Sometimes, staff won’t be outright about what they need to do their work. They may feel awkward and fear repercussions for making requests. But it is important that you know their needs in order to cater to them. So, carry out anonymous surveys to check whether there’s anything that you can do for your staff to help them with their work. This could include suggestions for helpful software, changes to the working environment, or anything else that could prove beneficial to productivity.

Invest in Quality Software

Nowadays, most work is carried out online with the help of devices like smartphones, tablets, laptops and computers. So, your staff are going to rely heavily on good quality software to do their work. Make sure you have the best and most up to date necessary software available. You may even want to consider having custom software made to meet all of your business’ specific and unique needs and requirements.

Invest in Your Office Space

Your office space can have a profound impact on productivity. So, make sure it’s up to scratch. Your office should have all ergonomic furniture and accessories to protect your staff from strains and injuries. This could include the perfect ergonomic office chairs, desks, wrist supports, back supports, foot supports and more.

Invest in Health and Safety

When it comes down to it, health and safety guidelines are in place to protect your employees and it’s absolutely essential that you follow them. In fact, it’s so essential that you follow these guidelines that there are laws in place to ensure that you do. So, invest in everything you need in terms of health and safety. This could include fire extinguishers, permanent safety signage, temporary safety signage, electrical PAT tests and more.

Of course, there are a number of other areas you could focus on when it comes to providing your staff with everything that they need. But those outlined above should help to get you started out in the right direction!

How Can the Travel Industry Overcome the Impact of COVID?

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StrategyDriven Editorial Perspective Article |Travel Industry|How Can the Travel Industry Overcome the Impact of COVID?One of the hardest hit industries during the coronavirus pandemic has been travel and tourism. Whether it’s regularly for business or to get away on a summer holiday, we’ve all been unable to venture to where we need or want to as a result of major travel restrictions.
Many of the large corporations have been hit hard, with British Airways announcing they will be cutting up to 12,000 jobs, EasyJet around 4,500 and Virgin Atlantic 3,000, these businesses will need to put plans in place as a matter of urgency to ensure the continuation of their operations.

A major impact faced by all

It’s not only flights leaving the country that have been affected – inbound travel has also seen a huge blow. Speaking to the Digital, Culture, Media and Sport select committee, Patricia Yates, Chief Executive Officer of VisitBritain commented “So for inbound, I mean we were looking at the beginning of this year at about £26.6bn coming from inbound tourism, we reckon a £15bn drop on that.”

So far the industry has lot the benefit of the two bank holidays in May and a lot of the school half term periods as well. With the hopes of an additional bank holiday in October, the industry will be keeping its fingers firmly crossed that some of the restrictions have been lifted, or at least some further guidance in place.

What are the challenges that travel businesses have faced?

Aside from the obvious restrictions that were implemented during the lockdown period, many businesses are facing the reality that people may be too scared or anxious to travel just yet. Organisations now face an ever growing challenge of convincing people that it’s socially responsible to travel and enjoy a holiday once again, and that where they are visiting has put all the necessary precautions and procedures in place.

Hotels, campsites and other hospitality facilities also have a mountain to climb. With new rules and regulations to help protect their guests, many have had to spend large amounts of money to ensure they are Covid compliant. Because of these great expenses, some are facing crippling debts and the possibility of redundancies to ensure they can stay afloat.

What are the best solutions for the travel industry?

The World Travel and Tourism Council reported that up to 50 million travel and tourism jobs are at risk around the world as a result of the pandemic. Although we are in uncharted territory, there are a number of solutions businesses could introduce to help them weather the storm.

One of the major but potentially very beneficial options is for businesses to restructure. This will help them to become more streamline, thus freeing up money to help them keep the lights on so to speak. Specialist organisations such as RSM Global, who have key experience in situations like this are on hand to help businesses plan and implement their long-term survival strategy.

No matter what the future holds, we all need to adapt to survive if we’re to overcome what the coronavirus has thrown at us.

Hong Kong: How can I successfully apply for UK citizenship?

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StrategyDriven Practices for Professionals Article |Apply for UK Citizenship|Hong Kong: How can I successfully apply for UK citizenship?China’s recent security legislation for Hong Kong, aimed at reducing the former British colony’s autonomy and bringing it more under its control, has brought widespread condemnation from the US, Europe and Australia, as well as human rights groups.

The UK prime minister, Boris Johnson called it “a clear and serious breach” of the 1985 Sino-British joint declaration, which was designed to protect certain aspects of Hong Kong’s autonomy and declared his intention for up to 3 million Hong Kongers to apply for UK residency.

Under the government’s plans, all British nationals overseas (BN(O)) and their dependants will be able to live and work in the UK for five years, and apply for citizenship after a further year. Here we look at the legislation and how it will affect you if you wish to apply for UK citizenship.

Why is the new security law seen as a concern?

Protests have been raging on the streets of Hong Kong for over a year now, initially against China’s legal bid to allow criminal suspects to be extradited to China. The bill was withdrawn in September, but violent clashes between police and protestors made the news all over the world.

However, this new security law, which came into effect on 30 June, includes a whole raft of policies that many believe to be the end of freedom of speech and the right to protest. It includes Beijing establishing a security office in Hong Kong, with its own personnel which will not fall under Hong Kongese jurisdiction, and powers to send Hong Kong cases to be tried in mainland China. Some of these trials may be held behind closed doors.

Before it was passed, Boris Johnson stated that the legislation “would be in direct conflict with [China’s] obligations under the joint declaration, a legally binding treaty registered with the United Nations.” Now the legislation has been passed, he is upholding his promise to allow any British national (overseas) passport holders to live and work in the UK for a renewable period of 12 months.

What are British nationals (overseas)?

Before 1 July 1997, when Britain handed over sovereignty of Hong Kong back to China, British overseas territories citizens by connection with Hong Kong, of which there were around 2.5 million, were able to apply for BN(O) citizenship.

This granted them certain rights, such as holding a British passport and visa-free access to the UK for six months. BN(O)s, however, are still subject to immigration control and don’t currently have the right to live, work, take up long-term study or have access to free non-urgent healthcare.

How do I apply?

There are around 350,000 BN (O) passport holders in Hong Kong and it’s estimated that another 2.5 million BN(O)s without a passport. All with be eligible to apply for citizenship.

The UK is creating a new visa for BN(O)s and their close family members. You will be able to apply from January 2021, whether you currently live in or outside the UK.

There are certain criteria you must meet to be eligible for the visa route, including that you have BN(O) status and are able to accommodate and support yourself financially for at least six months.

Once in the UK, you’ll be able to live, work or study for 30 months, which can be further extended by another 30 months. You will not be eligible for social welfare benefits, however.

Will I be able to relocate my business?

One of the main criteria for applying for the visa is that you will be able to support yourself. If you already have a successful business in Hong Kong, you may be thinking about the possibility of transferring it to the UK.

Immigration can be a complicated process, and if you’re wanting to relocate your business as well, you could consider consulting experienced immigration lawyers who can guide you through it step by step.

How many people will choose to apply the Hong Kong BN(O) Visa is yet to be seen, but it’s certainly a new chapter in the Hong Kong-UK relationship.

Five Tips To Enable Your Start-Up For Long-Term Success

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StrategyDriven Starting Your Business Article |New Start-up|Five Tips To Enable Your Start-Up For Long-Term SuccessStarting a new business is very challenging. Just as you begin to make progress, a fresh new challenge awaits you around the corner. Getting caught up in the difficulties of the short-term running of a business can be detrimental to long-term success.

Many start-up owners don’t realize the task that faces them when establishing a business. In most cases, the reasons for starting a venture are due to personal circumstances and work preferences. Too often, owners or management are short-sighted, leading to quick failure. 90% of new start-ups fail, and less than half of business last longer than five years.

Your start-up doesn’t have to contribute to the above statistics. By taking some strategic actions in the early stages, you can give your company a strong chance at survival. If you’ve launched a new business and are eager for success, here are five tips to enable your start-up for prosperity in the long-term.

1.Create a business plan and stick to it

Business plans are key to long term success, particularly for start-ups. In fact, research has shown that companies that operated using a business plan were almost twice as likely to experience growth and success than those that didn’t.

A business plan should be the first course of action. It outlines the goals and strategies of the start-up. It also includes detailed market information, competitor analysis, logistics, operations, and financial projections.

Your business plan should be referred to when making key decisions, and it must be adapted if circumstances change.

2. Source funding

Depending on the type of business that you’re running, you may need significant revenue to get it off the ground. If you have employees, they need to be paid regularly, meaning healthy cash-flow is a necessity. While you may have the financial means to operate on a monthly basis, don’t neglect the importance of cash flow. 82% of businesses fail due to cash flow problems.

3. Professional financial advice

Calculating financial projections, dissecting accounts, and managing cash flow can become extremely overwhelming very quickly. Many start-up owners don’t have experience in this field, making the financial side of the business even more stressful.

Considering U.S. banking history, you should seriously consider hiring a professional financial advisor to guide you through important financial processes. This can save you in the long-term and can prevent unnecessary losses due to inexperience.

4. Establish a clear target market

Having a clear idea of who your customers are is an absolute must for start-ups. It’s essential to know your audience, their interests, and what they seek in a product or service. Marketing plans and strategies should be customer-focused and targeted ads should be a key feature.

Never settle when it comes to your customer base. Always seek to expand through lead generation and various marketing techniques.

5. Be data-driven

Through website analysis and social media insights, a modern business generates a lot of data. This data should be thoroughly analyzed to gain a deeper understanding of customers and the market.

Look to analytics to guide your start-up with executive decision making. Analyzing the right information can lead to significant long term success.