Imagine you are the owner of a store. Now imagine you have just received a letter of resignation, signed by every member of one department (effective immediately) citing your sales commission policy as the reason. Is it time to re-evaluate your management policy? When you structure your pay/commission policy so that your sales staff actually takes home less than minimum wage, it makes people Image courtesy of http://www.redbubble.com unappreciated and angry. Angry people do not make good employees. If your sales people are successfully doing what you have trained them to do, you … [Read more...]
Is Your Business Ready to Expand Internationally?
Image via Wikipedia Everyone knows that technology developments have made it possible for businesses to expand their customer base to international markets. We live in a time when having such a market is an important strategy for businesses. If you have a business and are considering expanding internationally, here are six things for you to consider before you take that big leap. The most important thing that you need to do is to look at the market in the country that you are thinking of expanding into. Does that country have similar products? Is there a void or a need that … [Read more...]
Blogging For Your Business
You’ve probably seen your share of blogs, and most likely have some favorite websites that you visit frequently simply because you enjoy the blogs. Why not use blogging to increase and improve your business? The benefits of blogging are numerous. You can talk about your business in a conversational, informal tone; one that people will enjoy reading. They won’t feel as if they are being bombarded with a sales pitch or advertising blitz, something that often turns people off from a business’s website. You can also use your blog to keep customers informed of current events, and how your … [Read more...]
Sharing Authority – A Must To Ensure A Single Mistake Does Not Destroy Your Business
Image via Wikipedia Are you frequently asked to hire extra employees to take meet existing heavy workload? If so, you would do well to check whether there is proper coordination and exchange of data by various departments. Many departments are up taking up duties parities beyond their scope simply because they are not keen on sharing data and power with other branches of the organization. Do not presume that such complications arise only in big businesses. A mild ego clash between two individuals working in different departments in your small business too can lead to … [Read more...]
Staff, the key ingredient.
Image by ShashiBellamkonda The most vital part of any business Is it's staff! with good staff who are motivated and happy to be working there the sky is the limit! They will often drive a business on when many of the other things aren't there! But there are some keys to getting the kind of staff that can drive this. Motivation This is the first key, not the interview when they first apply. (although that can give a good indication) but motivating them to achieve great things both for themselves and for the business! Some of this can be monetary but it doesn't have to be! … [Read more...]
Is network marketing a valid career choice?
Image via Wikipedia Everyone seems to know someone who sells Avon, or Pre-Paid Legal, or Mary Kay. For some, it's just a hobby or a way to make a few extra dollars, but in every network marketing company, there are the superstars - the ones driving the pink Cadillacs or traveling the world while their residual bonuses keep accumulating in their bank accounts. What are the realities of network marketing as a viable career choice? Network marketing, also called direct sales or multi-level marketing, involves selling a product by personal contact with consumers, and recruiting new … [Read more...]
How to File an Extension for Your Business Taxes
Although tax season comes only once a year, there is no way to have control over external situations that may arise. Many business owners are constantly trying to fit a productive schedule into their daily routine. Small business owners in particular tend to have much to do and not enough time to do it in. Try as your might to get those forms done on time, there will be times when you might need to file for an extension. The growth of your small business is a testament to your hard work and dedication to achieve your goals. As your business grows, your taxes get more complicated. You can … [Read more...]
Hiring a Financial Planner
Image via Wikipedia As a business owner, you no doubt have some background in budgeting and planning your financial future. However, as your operations grow and more of your time is taken up by day-to-day tasks, you may find that you do not have the time or the interest to forecast your financial needs. It may be time to hire a financial planner, but how do you choose? Here are some ideas to get you focused: Hire someone with a professional certification-perhaps a Certified Financial Planner (CFP). You do not want someone who lacks a standardized education in … [Read more...]
The small business
Image by Getty Images The vital role they play Believe it or not the small businessman makes up a large part of any workforce in a nation! In some developed countries as much as eighty percent of the workforce work in workplaces that have four or less employees! Granted, this does include the farmer working his land and the Taxi cab driver owning and operating his own cab! But it also includes the Doctor who owns his own private practice and the local Franchise holder for the Burger bar down the road! But for all these businesses there a few key things common to all these … [Read more...]
Planning and managing the finances
Image via Wikipedia The aim of any business Is simply to make money for the owner! Yes they may have gone into business because they had a good idea that they thought was worth pursuing but the aim is to make money. some people may have a problem with that but the fact is if we didn't have people out there with the goal of making money most of us wouldn't have jobs! There are a number of things to think about that will aid any business in making the money. Plan the finances properly Not just getting some idea of where the business spends the money but actually start … [Read more...]