Biz Wisdom» behavior in business

Communication Essential Part of Business

chaWisdom — Sun, 06 Nov 2011 20:24:30 +0000

In any business and organization, communication is very important. The basic functions of management (Planning, Organizing, Staffing, Directing and Controlling) cannot be performed well without effective communication. Thus, it is necessary to have constant flow of information to operate properly. Communication gaps should not occur for the success and growth of the organizations.

For smaller companies communication might not be difficult. But, for large scale companies that have various levels of hierarchy, it’s a different story. Communication plays greater importance here. It is vital that internal communications are managed properly because a poorly crafted or managed message could foster distrust or hostility from employees.
There are several methods of business communication, including:

Web-based communication – for better and improved communication, anytime anywhere
video conferencing – allow people in different locations to hold interactive meetings with the use of conference calling equipment;
e-mails, which provide an instantaneous medium of written communication worldwide;
Reports – important in documenting the activities of any department;
Presentations – very popular method of communication in all types of organizations, usually involving audiovisual material, like copies of reports, or material prepared in Microsoft PowerPoint or Adobe Flash;
telephoned meetings, which allow for long distance speech;
forum boards, which allow people to instantly post information at a centralized location; and
face-to-face meetings, which are personal and should be succeeded by a written followup.

Fundamentally, communication is an important aspect of life. In business, its purpose is to make money. Proper business communication can open greater opportunities that boil down to better profitability.

Importance of Timely Timesheets in Business

chaWisdom — Mon, 11 Apr 2011 07:15:26 +0000

Whether you are a small consultancy firm, a medium sized accountancy practice, or a code warrior for hire in a back room of your house then you have at least one thing in common: you are in business to get paid quickly, and for the work you have done. Timesheets are the usual method for tracking time you spent working and thus are the key to timely invoice generation. Timely invoice generation and dispatch is important for two reasons:

You are more likely to get paid for your services the closer you present the invoice for payment to the time you did the work.
Poor cash flow kills more businesses than poor profitability.

Timesheets used to be monthly, then weekly, daily, and now can be updated to the minute. A timesheet software package like Timesheets MTS or Timesheets Lite is simple to administer, is simple for the casual user to enter time, and most importantly is simple for the accounts department to use and generate the reports they need for prompt invoicing.

So, throw out those papers based timesheet systems, throw out the spreadsheet timesheet systems that the wheels are falling of off, and move to a modern timesheet software system today. When you have a system be vigilant! Make sure your people are accurate and timely with their entries, and make sure accounts are prompt in issuing invoices! Of course don’t forget normal debt collection practices, there’s no point issuing invoices promptly and then having poor follow up!

advantage of using food delivery service

chaWisdom — Sun, 13 Mar 2011 02:19:11 +0000

Running a restaurant requires a great deal of effort and commitment. But, there is no guarantee that it will be a successful operation, despite having the right attitude, recipes and strategies. That’s why a lot of restaurants fail within the first three years after opening. In reality, opening a restaurant is very risky. Owners need to match their passion for food and passion for learning the mechanics of business.

All of those require a great deal of time to handle and manage. It would be a good advantage to outsource food delivery services for takeout orders. It would offer a lot of benefits especially for those small and medium size businesses. One particular advantage is being cost-effective. The restaurant no longer need additional employee for delivery and the staff can be used for in-house labor rather than delivery work. Also, there is no need to invest in delivery vehicles and equipment as the other party will take charge to that. And lastly, the service covers greater area and distance so it’s a lot more convenient for customers that will make them happy. Overall, it is a win-win option for the restaurant owner.

businesses also need to match up technology

chaWisdom — Mon, 17 Jan 2011 16:59:21 +0000

As technology advances, businesses also need to match up to it to remain competitive. We all know the business world is getting crowded every day. More and more companies are being launched each day. To stay in the game, the business needs to employ a system that suits their need. I’m referring to a system that provides convenience, time and money savings. For many, this system is the use of barcodes.

By term, a barcode is an optical machine-readable representation of data, which shows certain data on certain products. The barcode system comprise primarily of mobile computers, printers, handheld barcode scanner, infrastructure, and supporting software.

The system offers enormous benefits including speed. The use of barcodes improves efficiency of the operation. It can quicken the operation that takes longer without the use of the barcodes. Also, it reduces errors that can have much more dramatic impact towards the business. It can also reduce costs; labor costs, capital costs and lost revenues due to errors.

something about outsourcing

chaWisdom — Wed, 03 Nov 2010 10:02:46 +0000

The term outsourcing refers to the practice of using outside firms to handle work normally performed within a company. This is a powerful business tool used by millions of companies all over the world. It offers a lot of benefits that companies will really enjoy. Like online printing for example; instead of in-house printing many, companies would prefer to outsource the service as it is more beneficial to the company and it costs lesser.

Lower costs have always been the primary outsourcing advantage. Savings are made by the cost difference in salaries, benefits, and operational expenses. As such, there is increase efficiency since the business heads can focus on their core business. It helps shift the focus to work that serves the customer, and it can help managers set their priorities more clearly giving them a competitive advantage. This is just few of the many outsourcing benefits.

For printing needs, PrintDirectforLess offers online printing services at wholesale printing prices. They offer for cheap printing services with four (4) color printing capabilities.

companies employ obesity prevention programs

chaWisdom — Thu, 28 Oct 2010 03:27:15 +0000

Nowadays, employers are trying to combat the problem of obesity in the workplace. It is a growing problem with consequences that might surprise companies in the future. Statistics shows, annual medical expenses for obese employees are estimated to be 42 percent higher than for a person with a healthy weight. Expenditures ballooned because of this.

This is the very reason companies are employing obesity prevention programs to combat the problem. The primary benefit is having happier and healthier employees. It also lower health care costs, lower absenteeism and increase employee productivity.

The employee’s responsibility is to start taking care of themselves. Being healthy will not only benefit the company, but most importantly the individual. The question how to lose weight fast can already be answered by the company’s prevention programs as well as the products sold in the market. There are so methods available that can greatly help to combat this problem.

Important for your Home Business

chaWisdom — Fri, 22 Oct 2010 10:44:59 +0000

Ask for the sale – a home business entrepreneur must always remember that marketing, advertising, or promotional activities are completely worthless, regardless of how clever, expensive, or perfectly targeted they are, unless one simple thing is accomplished–ask for the sale. This is not to say that being a great salesperson, advertising copywriting whiz or a public relations specialist isn’t a tremendous asset to your business. However, all of these skills will be for naught if you do not actively ask people to buy what you are selling.

Remember it’s all about the customer - your home business is not about the products or services that you sell. Your home business is not about the prices that you charge for your goods and services. Your home business is not about your competition and how to beat them. Your business is all about your customers, or clients, period. After all, your customers are the people that will ultimately decide if your business goes boom or bust. Everything you do in business must be customer focused, including your policies, warranties, payment options, operating hours, presentations, advertising and promotional campaigns and website. In addition, you must know who your customers are inside out and upside down.

Become a shameless self-promoter (without becoming obnoxious) – One of the greatest myths about personal or business success is that eventually your business, personal abilities, products or services will get discovered and be embraced by the masses that will beat a path to your door to buy what you are selling. But how can this happen if no one knows who you are, what you sell and why they should be buying?

Self-promotion is one of the most beneficial, yet most underutilized, marketing tools that the majority of home business owners have at their immediate disposal.

Clear & Simple Guide to Grow Your Business

chaWisdom — Mon, 12 Jul 2010 01:51:13 +0000

Lately I heard a statistic that the majority of businesses operate at 60% of their potential. While I was unable to obtain the source of that statistic it seemed rather accurate or maybe even high. The Small Business Association reports that “2/3 of new employer firms survive at least 2 years, and about 1/2 survive at least 4 years.” The language they use is almost as scary as the statistics themselves. This article provides tips to help you develop and grow a strong, solid business foundation.

Solid Plan with a Clear Simple Vision- Think of the impact you would like your business to have in the world. Think big! You may never reach your vision but the vision itself is so grand that your team gets excited about it. Then back up and look at what would have to happen to get there. Create a solid plan with realistic short and long term goals.
Focus on Profitability vs. Revenue - While revenue is important, high revenue doesn’t add value if your expenses are just as high. What can you do to create more profit? Possibly develop various streams of income. What expenses could be reduced or eliminated? How can you operate more efficiently? Think profit.
Work “in” and “on” your business - Sometimes we get so caught up in daily tasks “in” our business we forget to step back to take a wider look from the outside. Seeing it through a customer’s eyes. Noticing how it fits into the community. Preparing the future of the company. On the other hand, we can get so comfortable working “on” our business we forget to step in to talk with customers and experience what the employees face on a daily basis.
Automate and Create Systems - What do you need to automate? What system can you put in place that would free up your time or make you more money? What tasks need to be eliminated, systematized, or delegated. What system would help your employees be more effective and provide the best service? Finally, is there a system that needs to be upgraded? Automation and systems help your business be consistent and efficient.
Consistent Marketing Plan - Marketing expert Jay Conrad Levinson of Guerilla Marketing has said that “I hate to admit this, but mediocre marketing with commitment works better than brilliant marketing without commitment.” It is important to have a marketing plan in place that is consistently and persistently being carried out on a daily basis….not just when you need more customers.
Increase Value to Your Customers - Give more than your customers ask for, more than they expect. There are 3 convenience stores by my neighborhood. The first one built I visited regularly and was satisfied. Nothing unique! The second I visited less than a handful of times and had to wait every time to get checked out so haven’t been back in years. Every time I get gas at the third store I am greeted over the intercom with a friendly “Hi, how are you today?”. When we go inside they are friendly and always provide my kids with a free lollipop. They even added a Post Office inside. Who do you think gets my money on a regular basis and with very little effort or money on their part? The one that gives more than I expect. What added value can you provide that will increase your “Wow” factor?
Innovate - React to the customer’s needs before they know they need it. Instead of selling what you want, sell what the customer needs. How do you know what they need? Take time to talk to them. At a minimum talk to your best customers and learn from each one you’ve lost. Find out what they would like and what their challenges are. Stay current on market trends in your industry.
Leadership vs. Management - Empower your staff to manage themselves. Do you really want to spend your time problem solving? Train them well. Make sure they know the vision of the company and they are on board because there is a personal win in place for them. The personal win gives the employee motivation to cooperate as part of the team.
Well Oiled Machine vs. Chaos- Is each section of your business operating efficiently while working together towards the common goal? Or are the members of your team expending time and energy daily putting out fires. What change can you make to shift your business out of crisis/ problem-solving to operating with ease?
Develop YOU! – Take a minute to hold your breath. As you hold your breath think about what you really want. See what happens. Unless you are uniquely talented you probably had trouble thinking about what you want, because your needs were not being met. When you take care of yourself… feel strong, healthy, happy, and have time and space in your life…you can focus on what you want and attract more to your business.

Take one step at a time and build a strong, solid business. Along the way build lots of reserves… time, money, space, revenue sources, future products, etc. and begin filling the gap to your potential.

Assembling Business Support Team

chaWisdom — Thu, 08 Jul 2010 11:57:32 +0000

Building a network of people who can give you advice is like having a “virtual team” to back you up.

Building a network using current contacts - If your new business is in the industry in which you were previously employed, you probably already know key players and customers whose opinions you respect. Talk to them, and then ask whether you can call periodically to get their reactions to your progress.

Building a network from scratch - If you are entering a sector that’s new to you, try to talk to people who can provide you with market intelligence, contacts and ongoing feedback, including: People in similar businesses and Potential clients. Join industry associations, and attend conferences and events, that provide networking opportunities.

Professional advisers - Getting advice from professionals early in your business start-up process can help you avoid common pitfalls and get up and running that much faster. It doesn’t have to be expensive; a small business adviser will give advice for free, and first consultations are often free for other professionals as well.

If you don’t have a banker, lawyer, accountant or management consultant, ask friends and business colleagues for referrals. Look for the right “fit” with the professionals you speak with to ensure they are knowledgeable about your industry and small business.

How to Handle Stress at Work

chaWisdom — Sat, 12 Jun 2010 02:54:07 +0000

Stress has always been part of work. With all the workloads given, meeting the deadlines, quotas and so on, can add up to it. Unfortunately, work stress has significant health consequences that range from the relatively benign, more colds and flu, to the more serious, heart disease and metabolic syndrome. Shifting to a low-stress job may be difficult or impossible for many people. But, there is always a way to deal with stress.

Managing stress is all about taking charge of your thoughts, emotions, environment, and handling problems. The ultimate goal is to balance life, work, relaxation, fun and relationships.

One of the key to reduce stress is by nurturing yourself. If you regularly make time for fun and relaxation, you will be in a better place to handle life’s stressors when they inevitably come.

Here is a lists of ways you can relax without having to spend a lot.

Sip a warm cup of coffee or tea in soft outdoor chair cushions
Go for a walk.
Go outdoors for nature tripping.
A nice chat with friend, always connect with other people.
Exercise
Write down thoughts or make a journal
Play with a pet.
Get a massage.
Read good books
Watch comedy movies
Get enough sleep