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5 Tips to Develop Effective Risk Management Strategies

Having an effective risk management strategy is crucial because it empowers you with the tools you need to identify and manage potential risks. You can only mitigate the risks you can identify.

Risk management strategies

Generally speaking, there are five main steps you need to integrate into your business in order to effectively manage risk and control potential threats to an organization’s capital and earnings.

Workiva outlines these five risk mitigation strategies as follows:

  • Define business strategy and objectives. Business strategies must integrate risk management frameworks into the planning stage.
  • Establish KPIs. Key Performance Indicators should be specific enough to see where improvement is needed and how risks can be measured.
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5 Tips To Improve Business Trips For Your Employees

When employees go on business trips, you want the experience to be straightforward so they can achieve what needs to be done. You want to ensure they’re able to accomplish their work and also uphold a good reputation for the business.

Co-workers on a business trip

Both of these goals are easier to achieve if your employees feel they can focus less on the travel aspect and more on the business aspect of the trip. If they don’t have to worry about many of the small travel details, they’ll enjoy the process more and likely be more productive.

If your company is often sending employees on business trips, you might be looking for an easy way to improve the process.…

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How to Avoid Late Payments from Clients

As a business owner, late payments from clients can be frustrating and costly. Not only do you lose out on the money that is owed to you, but you also have to spend time and energy trying to get it back.

Late payment

photo credit: Nicola Barts / Pexels

In this article, we will discuss some tips for avoiding late payments from clients in the first place. By following these tips, you can protect your business’ bottom line and maintain good relationships with your clients.

Gather a Written Record of Your Terms and Conditions

The first step in avoiding late payments is to have a written record of your terms and conditions.…

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Getting Started in Your Career? Here’s How to Dress for Success

Are you going to your first real job interview after earning a college degree? Have you already started your career but want to get to the next level with a new job at a different company?

Well-dressed business people

photo credit: Rebrand Cities / Pexels

You need to keep some things in mind if that’s your goal. The right mix of experience and education is essential. But so, too, is the way you present yourself. Don’t underestimate the importance of making a good impression. Doing so can positively impact your career trajectory since, whether you like it or not, more opportunities will come your way if you look the part.…

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The Pros and Cons of Outsourcing Web Development in 2022

When growing a business in 2022, you must at some point decide whether or not to outsource your web development. But it’s not an easy choice to make.

Web development outsourcing

photo credit: Christina Morillo / Pexels

This article will go over the pros and cons of outsourcing your web development so you can make an informed decision.

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Advantages of Outsourcing Web Development

Here are some benefits of outsourcing your web development:

Less time and money

Web development agencies already have efficient processes in place from their years of experience in the industry. Instead of going through all that trial and error on your own, leverage their swift workflows.…

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What Are 4 Huge Cybersecurity Threats Today?

Companies lose up to $2.9 million every minute worldwide from cybercrime, according to an industry estimate. Despite many highly publicized cybercrime incidents, organizations often are caught off-guard when they face these crises.

Cyberattack

Research reveals the cybercrime problem will only worsen as time goes on. Fortunately, there are many tools and resources available to help organizations avoid most of their cybercrime vulnerabilities.

We’d like to help you get your company ready for potential cybercrimes, so we’ve outlined some of the biggest threats today.

Ransomware Attacks

Ransomware crimes have been rampant in recent times. For example, it’s estimated that ransomware attacks increased 200% in 2018 alone, reaching $10.5 billion in losses.…

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When Should a Business Outsource Its Marketing?

Most businesses handle marketing in-house. They begin with organic, grassroots campaigns and eventually scale up to more detailed (and costly) campaigns. But what if that’s the wrong way to handle it? Could outsourcing your marketing actually make more sense?

Marketing outsourcing

What is Outsourced Marketing?

Traditionally, marketing is one of those tasks that’s handled in-house. Either you hire marketing professionals and build out your own internal marketing department, or the founder works closely with one or two key employees to execute all aspects of the company’s marketing strategy. But in recent years, outsourced marketing has become quite commonplace – particularly for smaller businesses.…

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8 Ideas to Build a Customer Community From Scratch

Customer communities have tremendous potential to help you build your business. Stronger customer communities can attract new people to your brand, encourage loyalty for existing customers, and even relieve some of the burden of customer service.

Customer community meetup

So how can you build a thriving customer community from scratch?

The Value of a Customer Community

There are many different ways to build a customer community. You could encourage customers to share their personal experiences with your product or show how it can be used in novel ways. You could use it as a help and assistance forum, where people can exchange ideas and provide each other help.…

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How to Create an Amazing Workplace Culture

When it comes to building a successful business that’s set up for long-term success, you have to look beyond products, sales, and marketing and consider the “engine” that keeps it all running. In other words, you have to focus on the people who make it happen.

Workplace culture

What is Workplace Culture?

Workplace culture is a phrase that gets thrown around a lot, but what does it mean? And why is it so important?

According to YourRec.com, “Culture is the character and personality of your organization. It’s what makes your business unique and is the sum of its values, traditions, beliefs, interactions, behaviors, and attitudes.”…

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5 Factors to Consider With Packaging Design

Packaging is one of the last things most businesses think about when developing a product. Unfortunately, it’s also one of the most important. And if you don’t give it the attention it deserves, you could be unintentionally holding your business back.

Packaging design example

The ‘Why’ of Packaging Design

The right packing design is important on multiple levels. But according to Industry Today, it ultimately services four distinct purposes:

1. Protection

Practically speaking, packaging exists to protect the item inside from being damaged during transit, storage, and display. For food and beverage products, it also keeps the product safe and free of germs.…

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