POST CATEGORY : Management

Simple Yet Profound Ways to Cut Costs Amid COVID-19 Crisis

As the economy continues to struggle and many businesses are faced with prolonged dips in sales, many SBOs are getting creative to stay afloat. This includes cutting costs and reorganizing expenses based on new developments.

Expense management and cost cutting

The 2 Levers of Profitability and Financial Sustenance

Whether it’s a small business, global organization, or your own household, there are two levers that impact your profitability and financial sustenance:

  • Increasing revenue. The first (and most obvious) choice is to increase revenue. If you sell more products at a higher profit margin, you generate more revenue. Plain and simple.
  • Cutting costs. The other lever is to cut costs.
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Some Of The Common Freelancer Mistakes You Can Avoid

When starting as a freelancer, people do everything to make a name for themselves and make more money. It is tough to get projects and clients at first, and as people struggle to get gigs, they overlook some aspects of the business side of freelancing.

Freelancer mistakes to avoid

People think that freelancing has lesser responsibilities than the regular office job. As a result, freelancers end up making mistakes that cost them a lot. Here are some of the freelancing errors you can avoid.

1. Operating without a Contract

Most freelancers start working without signing a contract. This leaves room for serious misunderstandings. Part of the reason this happens is that the freelancer does not have the time or resources to draft an agreement.…

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Common Cyber Security Practices You Should Never Miss

Industries have preferred to move their businesses online that have allowed them to grow organically. However, everything is not so bright as they are perennially faced with the risk of data breaches.

Compromized cyber security

The security threats in the industry are immense and can be estimated from the fact that 4.1 billion records were compromised in only the first half of 2019. There have been significant data breaches at Clearview and Marriott, with almost 5.2 million records being breached at the latter. According to the 2020 Data Breach Investigation Report from Verizon, 70% of the breaches were caused by outsiders, and 86% of the breaches were financially motivated.…

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Staying Motivated When You Work from Home

Working from home certainly has its benefits; however, it’s not easy. In order to make money and keep up a solid reputation, you need to be able to stay motivated.

WFH

In this article, we’ll discuss how you can do just that, so you can continue to enjoy all the great things about working from home. Sound interesting? Let’s get started.

Remove distractions

One of the best ways to stop yourself from getting distracted during work hours is to remove the distractions, of course. It’s not always easy, but try and determine what keeps removing you from your workspace. If it’s your phone, try putting it in another room.…

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What Are Ecommerce Shipping Best Practices? A Guide to Shipping

Online businesses or eCommerce is well on its way to phasing out traditional retail. In the fourth quarter of 2019, eCommerce in the U.S. was worth a staggering $187.25 billion. That’s a more than 16% increase from $160.89 billion in 2018.

Ecommerce shipping best practice

Shipping is one of the most important aspects of any eCommerce store. The way you handle your shipping can either make or break your online business. In fact, industry giants like Amazon and Alibaba attribute their success to adopting all the eCommerce shipping best practices.

Fast and organized shipping is the only way they get the right products to their customers within the stipulated time.…

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Slack Etiquette: Become a Slack Pro in No Time

Online communication has always been an essential part of business operations. However, it became far more crucial during the last couple of months. Given the world’s current situation, many companies had to send their employees home to work remotely.

Slack app dashboard

With the growth of the remote work trend came the growing demand for better online communication platforms. As one of the best platforms of this kind, Slack proved that its features are more than enough to maintain meaningful and productive communication within remote teams.

Why Choose Slack

Before getting into details with Slack etiquette and how to best leverage the platform, let’s cover the basics.…

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8 Proven Ways to Increase Employee Productivity at work

Let’s face it: ensuring maximum employee efficiency is one of the biggest concerns of many Business owners and Managers these days.

Productive employees with high morale

It is practically impossible to lead a team with different temperament and views and not have any clashes and miscommunication. All this hinders the efficiency of the employees. Needless to say, getting everyone on the same page is not a piece of cake.

So, how do you ensure optimum efficiency from the employees?

Here are 8 proven ways you need to know about how to increase productivity at work.

1. Provide your team with proper Communication apps

It does not matter whether your team is working remotely or under the same roof, having proper communication tools can help the team members to be on the same page.…

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Seeing the Benefits of Coworking Spaces After No Choice But To Work from Home

Remote work was already a growing trend long before the COVID-19 pandemic came about and flipped the whole world upside down. When the virus changed everything, the meaning of remote work was included in those changes. It was no longer a choice whether employees could or would work from home. It simply became the only option.

WFH

While plenty of people couldn’t be happier to adjust to new, remote lifestyles, for many, working from home was not a choice they ever would have wanted.…

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3 Ways To Grow Your Business

Over 627,000 new businesses are created each year, and only 51% of enterprises last beyond five years. Opening a business is tough, but the good news is that companies should have, on average, 15-45% year-over-year growth. Thus, it helps to know strategies that you can apply to make your business grow.

Business meeting for growth

photo credit: Charles Deluvio / Unsplash

Building a solid business requires accurate data to guide you in making smart decisions. From infusing capital to hiring new talent, there are several ways to scale up your entrepreneurial activity.

Update Information Technology (IT) Equipment and Software

A shrewd business owner uses tools to track and analyze cash flow.…

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5 Subscription Services to Reduce Your Payroll Dramatically

Starting a business, or reshaping an existing one, will be possible if your finances are under control and in a position where growth is possible. Payroll is an area which can easily inflate if you haven’t taken the time to assess the role and necessity of each resource, and maybe you haven’t changed your business and employee contracts to reflect the reality your business now exists in.

Analytical tool

Subscription services have been a saviour for businesses who want to be a little more nimble with a reduced payroll headcount. If you haven’t considered this for your circumstances, let’s get clear on what these subscription services look like and what they can make possible.…

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