Tips To Get Better At Being Your Own Boss

The nature of modern employment is at a crossroads and many people are now choosing to become their own boss, or they find themselves in a situation where they need to become their own boss due to changing circumstances. It could be due to wanting more personal freedom, or it could be as a result of being furloughed during the quarantine period. Whatever your circumstances it is vital that you understand the realities of working for yourself.

Small business owner using productivity apps

Here we are going to take a look at how to get better at being your own boss and what the fundamentals are.

Set Clear Goals

To succeed in any form of business whether employed or self-employed it is vital that you set clear goals and understand exactly where you want to take your business.…

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Business Management Tips For Food Service

Managing a food service business effectively takes a creative balance of public relations, inventory management, human resources, communications, marketing, and more. Focusing on the food with all the other important elements floating around in your mind could become quite a task.

Restaurant manager promoting dishes

However, there is hope for your jumbled thoughts. Education is a powerful tool for production and efficiency. Take a moment to invest in your own professional development, and read through a few business management tips for food service.

Customer service is paramount

The old term, “The customer is always right,” still rings true in food service. No matter whether you’re a franchisor or a franchisee, excellent customer service will fuel the success of your business.…

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4 Key Factors on the Path to Maximizing the Value of Your Business

In business, maximizing value is the name of the game. When strategies clash, though, how are small business owners to know which path is right for them? Shareholders face novel problems today, including significant SKU proliferation, rapid technological evolution, cybersecurity threats, international trade wars, and the appearance of entirely new industries tangential to their own, among myriad challenges.

Business owners on the battlefield must navigate this shifting environment in order to maximize their value. A very basic framework to help think through these challenges is the “buy, hold, or sell” model. Specifically, at any given point for any decision, an owner or manager has only three options: buy (invest more), sell (divest), or hold (maintain the status quo).…

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How to Ensure That Your Business Remains Organized

Owning a small business and running it on your own can be a difficult thing to do. Besides doing the work that you do best, you also have to take care of your finances, sales planning, marketing, etc.

When customers come pouring in, it’s easy to lose track of everything you have to do. And once you begin falling out of sync with all of your responsibilities, it can be very difficult to get back on your feet and recover. After all, your small business is only as organized as you are!

Organize your business

With that in mind, here are some useful tips to help you ensure that your business remains organized.…

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Best Management Practices and a Tip from Russell Ruffino

Business consultants are always eager to offer up advice about what business owners should do, and what they should avoid doing. The short and sweet of it is this: Business owners should always stay actively engaged in the day-to-day operations of their enterprise.

Engaged and happy employees

It’s less about management style and more about engagement. Business leadership spans the full spectrum including a laissez-faire approach through autocratic management styles. Depending on the nature of business operations, one may be more conducive to productivity than another, although this is not ironclad.

In management school, they teach that planning, organizing, leading, and controlling (POLC) are the core tenets of effective business management.…

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3 Ways To Get More For Your Money When You Start A Business

It’s one thing to run a business and it’s another to grow your business. The difference between the two is the use of the Pareto Principle, better known as the 80-20 rule. According to this principle, 80 percent of your results will come from only 20 percent of your efforts.

Business operations

Since the aim of every business is to increase profits, a person who runs a business focuses on marketing and sales. Meanwhile, someone who grows a business will also focus on marketing and sales—but they will also apply the Pareto Principle to overheads. He or she will try to isolate the 20 percent of B2B services that increase 80 percent of the business’ performance.…

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What Makes a Good Manager

Being a good manager is essential in order to create a positive work environment. When you are supportive of your staff by giving them the leadership that they need in order to thrive then you are not only giving them a more positive experience as employees, but you are also giving your customers a better experience.

Good manager

A strong manager is essential to the well-being of a business. Without a strong leader, there is no direction or plan for the execution of moving up as a company. In order to be a strong manager, you should make sure that you know what the qualities of some of the best managers are.…

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How to be the Company Everyone Wants to Work For

It is important to motivate and engage employees in order to achieve success within your business. It encourages them to go the extra mile, contribute more ideas and work harder to achieve your business objectives. The ability to motivate a team is one of the greatest skills an entrepreneur can possess.

Successful leadership

When the subject of motivation comes up it is usually linked to money- pay, bonus and rewards. However, these are not the only ways to motivate employees and sometimes, thinking outside of the box can have a more positive effect. If someone dislikes their job they are still going to feel the same whether they earn £25,000 or £27,000, it won’t make much difference.…

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The First Five Things You Should Consider When Your Business Starts to Boom

Everyone who starts a business does so with a dream in mind; however, very few actually make that dream a reality, let alone a profitable one.

However, what happens when the seemingly unthinkable happens and the money actually starting rolling in?

Startup growth

Oddly enough, raking in the dough as an entrepreneur can be both a blessing and a curse. After all, there are plenty of options on the table which can be quite daunting as a business owner.

For example, is it best to conduct business as usual and pretend like your profits aren’t even there? Should you immediately invest the money back into your business?…

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Studies Show Businesses with More Females in Management Do Better. Here’s Why.

Not to play the gender card, statistics actually show that companies with females on their board of directors do better than those with no women. A study of Fortune 500 companies demonstrated that those with the highest number of women in management, recorded higher financial performance on the average. The study was based on three financial measures: return on equity, return on sales and return on invested capital.

Female managers

There have been a number of other studies that show a link between a balanced gender distribution in a company’s management and its profitability. These studies have been carried out in different countries, at different times, and across a variety of sectors.…

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