POST CATEGORY : Management

How Business CEOs Can Manage Cash Flow

No matter the size of your business, it is essential to adequately manage your financial risks. This will help you be successful. One reason it is so critical is that smaller businesses usually have smaller margins, which means they may not be as prepared against a challenging situation.

Cashflow management

photo credit: Tima Miroshnichenko / Pexels

As a small business CEO, it can serve you will to boost your financial understanding.

Look at Personal and Professional Cash Flow

Cash is capital in any business, and if you run out, your organization may no longer function. Having a strong cash management strategy in place is a critical way to plan how you will use the funds you do have.…

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How Small Businesses Can Run More Sustainably

As a small business, it’s easy to convince yourself that your environmental impact is equally small. However, with eco-friendly practices becoming the business norm, mostly driven by customer demand, your clients may not see it that way- nor will the planet.

Sustainable business

There’s a lot you can do to ‘green’ up even the smallest business. Let’s take a look.

Sustainable Practices Matter to Consumers

Sustainability and eco-friendly practices have come to matter to consumers. Interestingly, this applies across a broad range of practices, ages, and other demographics. Consumers now feel empowered to actively push back against wasteful, planet-harming business practices, and they vote with their dollars.…

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The Best Tasks Worth Outsourcing for Better Team & Business Productivity

As a business owner or entrepreneur, you’re likely aware of just how valuable time is. As such, you’ve probably searched for ways to increase productivity and get more done. Though it can sometimes be difficult to let go, one of the most effective ways to increase productivity is through outsourcing.

Businesswoman managing outsourcing work

Allocating duties and responsibilities is one of the most important parts of being a business owner or entrepreneur and knowing how to do this effectively will have a huge impact on your business’s success. Understanding which tasks should be outsourced — and which ones shouldn’t — can help you, your team, and your business be more productive.…

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How to Protect Lone Worker: Tips and Ideas

The ability to work from virtually anywhere has enabled many employers to allow their employees to work remotely as lone workers. Although solo working scenarios are increasingly popular, employers have a moral and legal responsibility to ensure their employees are safe. The employer thus not only needs to have a protection system in place but also ensure lone workers understand it well and can use/access it effectively.

Lone worker working from home

Outlined below are a few simple steps and tips on how to keep your remote workers protected.

1. Identify Everyone In The System

You might have heard of the phrase, ‘far from sight far from mind.’…

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Outside Business Consultant: Should I Hire One?

There are many reasons why it is good for small businesses to hire an outside consultant with the main reason being the fact that it positively impacts a company’s bottom line. A business can either choose to engage human resources consulting services on a contract basis or on an hourly basis or hire the services on a contract basis.

Consultants

Any of these arrangements can benefit your business based on the level of expertise the consultant brings to your business. There are both tangible and intangible benefits of hiring an HR consultant. However, the fact that an HR consultant can positively impact a company’s bottom line shows the tangible benefits of hiring an HR consultant.…

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Construct Ishikawa Diagram To Resolve Underlying Business Problems

The key to achieving business goals is ensuring every process is executed correctly. Therefore, companies must implement internal process improvement to identify possible issues behind a particular function.

Ishikawa diagram, famous as the fishbone diagram, was invented by the quality management innovator Kaoru Ishikawa in the 1960s. This tool has proved to be a magic tool for businesses in resolving their problems.

Ishikawa Fishbone Diagram

image credit: Wikimedia Commons

With a fishbone ishikawa diagram template, a business can efficiently focus on resolving a particular problem instead of working towards solving its causes.

This article explains how you can use this visual cause-and-effect analysis tool to identify the causes of a particular problem.…

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5 Solid Strategies to Improve Your Employee Retention Plan

It’s no surprise that retaining excellent staff is critical to a company’s success. Recruiting new personnel is not only costly and time-consuming, but it also has a detrimental impact on your employees’ productivity and morale. As a business, retaining outstanding people should be at the top of your priorities list because it has a big impact on your bottom line.

Employee retention

Understanding what employees value most and acting on it to maintain employee engagement and happiness is the key to a successful retention strategy. It’s critical to keep evolving and being creative with retention techniques in order to meet the demands and desires of today’s workforce.…

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How Your Business Interests Can Be Protected By Signing A Prenup

Are you wondering what the benefits are of signing a prenup to your business? We have gathered all the information you need to set your mind at ease.

Business prenup agreement

Asking your spouse for a prenup even a decade ago would have been a very awkward situation to handle. But recently, prenuptial agreements are more common as couples realize the benefits of a prenup.

No one would want their marriage to end in a divorce; having said that, having a prenup would be very beneficial if either or both of you own a business.

You may have started that business before you married and want to protect it in the event of a divorce by not letting it be subject to the court’s distribution.…

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Categories of Industries that Can Profit from Field Service Software

With the advancement of technology and the rising demand for field services software, the question of who can use the service arises. It’s vital to note that the field service was initially meant for field techs, supervisors, and managers. However, as the technology keeps evolving, other industries have seen it more viable to incorporate field service management software in their business for easy management and better performance. This has enabled the companies to centralize their data and resource allocation, which has helped boost businesses.

Field service crew installing solar panels

photo credit: Los Muertos Crew / Pexels

You must continue scrolling and reading to see how your business can benefit from field services software.…

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Best Ways To Use Outsourcing To Improve Your Business

When you first started your business, you probably didn’t expect the crazy amount of work you’d have to put in to make it all run smoothly. Some of the tasks may even be out of your area of expertise, but you’ve tried to do them anyway because hiring another full-time employee isn’t necessary for the job at hand.

Businesswoman outsourcing non-strategic tasks

However, you may have noticed that handling these things has hindered the growth of your business. You’re wasting valuable resources by focusing much of your time and money on tedious activities like accounting, IT, writing, and administrative work.

So if you want to improve your business and finally have the time to grow, continue reading to learn how outsourcing can help.…

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