Organizing Your Business To Lower Your Bottom Line

Building a better bottom line for your P&L statement is the primary obligation of the CFO and CEO of any organization. Even in sole-proprietorships, getting your expenses lowered while expanding your income streams is foundational to your business success.

Effective business team

There are various ways to lower expenses while adding income, from downsizing your workforce and rental space to increasing your customer base. However, regardless of your strategy, unless your business is better organized, you may end up spending wasted time chasing more revenue inefficiently.

The Key Steps To the Process

Organizing your company structure is the first step. Once you have your company organized, what needs to happen next is determining how much physical space is vital to operate.…

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What Changes Make for a Better Business?

How often would you say you make changes to your business? When you find a routine that works, there is a tendency to just stick with it, whereas really, there is always going to be room to improve. However, with just a few small changes, you’ll find that your business can run much more efficiently for you.

Business management

Here are some of the changes that will eventually make for a better business.

Rethink Your Energy Suppliers

Once you have working electricity, running water, and quick internet, usually, that means you’re pretty happy to just settle with that provider; however, there is a lot of money that you can save on your utilities.…

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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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