POST CATEGORY : Management

5 Assets Your Business Needs in Order To Double Its Profit

Business assets are things your business owns, benefits from or makes. Many of them can be directly responsible for doubling your company’s profits.

Professional using laptop for

Here are five of those crucial assets and why they’re so instrumental in helping the enterprise’s bottom line.

1. Real Estate

Business real estate falls into numerous types. For example, you might have a downtown office space, plus a distribution center located on several acres of land. The company may also have a manufacturing facility classified as a real estate asset. Real estate can help grow your business by ensuring it has the space to operate in ways that foster growth.…

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What to Do when Your Business is Struggling

If your business is currently in a precarious financial position, you may be faced with some tough decisions ahead. It is unfortunate yet inevitable that during economic downturns small and medium-sized companies will struggle.

Failed businesswoman

You should not give up hope, however.

If you adopt a positive and active approach, you may find that your business is salvageable. At the very least, you will mitigate any risks to yourself. Here are a few tips for when your company is at risk of going under.

Evaluate Your Financial Position

It will be difficult for you to judge what you should to with your company without getting a clear picture of its finances.…

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How to Protect Your Business with Vendor Risk Management

The vendor risk landscape has evolved rapidly over the last few decades, with third-party relationship risk management becoming more and more difficult to manage as technology advances and the supply chain evolves into more of a supply web encircling the globe. A failure in one area of the web could mean failures all over the web, as happened when, in 2011, a tsunami devastated Japan and seriously rattled the global supply chain.

Management meeting discussing vendor risk management

Now more than ever, it’s vital that you keep tabs on the risk levels of each of your third-party vendors. Without prudent vendor risk management, your company could find itself the victim of a vendor-related security breach, or liable for the criminal conduct of a vendor overseas.…

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How to Fit in a Remote Team – What a Founder Says

Entrepreneurs always worry if remote employees would fit into the company culture. We understand the concern, as working remotely is quite different from gathering at an office.

Remote team meeting

It’s easy and natural to blend in when we meet face to face. A new employee comes to your office, meets your staff, and starts interacting within days. They may need a week or a month, but ultimately any new employee fits into your workplace culture soon enough.

Remote work puts a cap on the number of interactions you have. Coming together on video calls for collaborating for a few hours is not enough.…

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Innovative Ways to Manage your Finance

Thanks to technology and algorithms fueled by artificial intelligence, dozens of new fintech players are coming to the aid of your finances. Discover new and simple ways of managing your money.

Using digital wallet

The new ways of managing your money

Every day, fintech companies come up with new money management solutions to simplify everyday banking practices or disrupt savings by bringing individuals and businesses together. These innovations have been designed to provide a real service to their users. Like Apple, which has imposed itself on the personal computer and smartphone market, or Google on search engines, fintech relies on simple and intuitive products to best meet customers’ expectations.…

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How to Complete Projects on Time and on Budget

Time is a huge factor in determining the success of any project. Even if you complete necessary objectives and deliver high-quality results, you’re unlikely to win client and customer approval if everything is finished long past its due date. Despite this, research from Project Smart has found that just 10% of projects are delivered on time.

Business project planning

Delay also often goes hand in hand with rising costs, causing budgets to spiral out of control and having a serious impact on a business’s bottom line. The perpetually delayed HS2 railway system is a prime example of how quickly things can turn sour.…

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Retirement Planning for Habitual Expatriates

All individuals need to plan and save for their retirement to ensure a secure and comfortable retirement. However, retirement planning becomes all the more necessary and complicated for habitual expatriates.

Habitual expatriates

Habitual expatriates move from one country to another and switch jobs more frequently than others. Thus, with different retirement systems and policies in different countries, habitual expatriates must plan their retirement with extensive foreknowledge to receive as much coverage, tax benefits, and sustainability as possible.

Challenges Faced by Habitual Expatriates

Habitual expatriates are required to put extra thought into their retirement planning due to their ever-changing locations and lifestyle. Their guiding rules and regulations also keep changing with their country, and so do their pension schemes.…

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Is Internal or External Management Training Best for your Business?

Without employees, your business would not be the great asset it is today, so it’s important that you focus on continuously training them to develop their skills, encourage career development, and grow your business. Other benefits include improved performance, morale and job satisfaction, as well as helping to identify weaknesses with an organization.

Management training

Companies that invest in training staff enjoy a 24% increase in profit margins, while over a third of millennials consider training programs to be a top job benefit.

There are two ways a business can train its employees: either internally, or with the help of a third-party company.…

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The Importance of Maintaining a Tidy Workspace

No matter what project you’re working on, a good job can only be done if you’re functioning from a tidy workspace. You could be operating out of a warehouse, in an office or in a workshop – but regardless of where you are, a clean space will help you to work better.

Tidy workplace

It’s not all about productivity though. Working from a clean space also helps with your mental health and timekeeping too. In this article, we’re going to take a look at why it’s more important than you might think to maintain a tidy workspace.

Improved efficiency

If everything has a place and is stored correctly, you’re a lot less likely to spend precious minutes hunting for the tools or equipment you need.…

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Virtual Office 101: Why you Need it in 2021

If you are running a start-up company or a small business, you will understand the need to reduce your expenses. One of the best ways of doing it is by cutting office setup expenses through the use of a virtual office. This is particularly of use in 2021. Why is that?

Virtual office space

We are today in a unique situation. The COVID-19 pandemic and the resultant lockdown has caused a major disruption in the economy. Many organizations are shut down and not able to operate from their offices.

In this situation, operating a virtual office is the best option. You can use the virtual office to carry out all your office operations.…

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