When you run your own business, you are forever attempting to balance those books and keep costs down. It makes perfect sense to do so as the lower the costs are the less you need to worry about your incomings and profit margins then improve. However, there can be a danger in reining in those costs too far, as some outlay can actually be a good thing and can serve to bolster profits in the longer term.
Some costs are obvious and completely necessary to cover. Whether it’s public liability insurance, Melbourne or it’s business funding, Tokyo, you will find that all businesses are under the same pressures globally and have similar costs and requirements. You know that your business needs financing and that you need to cover yourself with insurance, but what else should you be spending on to ensure that your business is safe and thriving?
People often recognise and understand what a business is about by its branding, so you really need to get this one right. Effectively branding your business can propel it forward.
Spend time considering what your business values are and what might be important for customers to know about you. Work with a designer to incorporate these messages into your logo, signage and web design and then use this branding in every way possible, from your storefront to your packaging.
Your business image needs to be strong to attract customers and build relationships with them. Ensure that any dealings with you deliver exemplary service and products and do ask for testimonials to share to further enhance your reputation and image.
Streamlining administrative tasks
Wherever possible, you need to be looking to streamline any and all administrative tasks within your business. You might want to use bookkeeping and accounting software, payroll software, daily tasks monitoring or perhaps you could outsource some more specialist or mundane activities. Whilst it may seem that you are then paying for tasks to be completed that could be completed by someone within your team, these costs are often offset by freeing up resources and using them more wisely.
Supporting and recognizing your team
Training your team effectively and then providing them with ongoing support and coaching is absolutely crucial. This will ensure a job well done as your team will be equipped to complete their work effectively every single day. Do hold regular one to ones with them to evaluate their performance, talk through any shortfalls and praise excellent work.
Along with supporting your team and investing in their training, you should also seek to recognize good conduct and results through praise, bonus structures and competitive salary and benefits packages.
Your own development
Do not overlook your own development as this could have a huge impact on your business. We often focus on how we can develop our teams and forget to actually work on ourselves. Get the help of a respected business coach or mentor to help you to improve your own skill set and approach to your business.
How To Gain Business Exposure Through Your Presence Alone
In every avenue of business, we have to work for what we get. There are no shortcuts around this rule. Of course, once we get to a certain size, automated processes and brand recognition can work in our favor. Perhaps it can even grow exponentially. But it doesn’t all come from the void. It’s important to know that this is all a consequence of the work you’ve laid down.
However, sometimes, there can be tiny little tricks you use to help things along. They do not disprove the process, but applied ingenuity can sometimes seem as though its working on its own, despite your expectations.
Gaining business exposure through your presence alone can often help you with this. It’s important to know just how that might manifest itself, and how a new startup might make use of this ideal. There’s every chance that applied intelligently to your personal situation, you can make use of a range of small tips that help your business seemingly gain traction by itself. And the hallmark of that is fantastic branding.
Let us see how this might be applied on a daily basis:
Consider Your Name
A name can be a strong means to stick around in the mind’s of your audience, long after your advertisement has run. Something sharp, something snappy, and better yet, something that relates in some way to the thing you’re hoping to sell. Of course, it’s important to get creative. If you’re having trouble coming up with a name, it’s important to consider the mood you may want your name to represent. For example, an ice cream company’s name might be light, fun, and silly sounding. It’s supposed to signify a treat, something lighthearted and enjoyable. Tilly’s Ice Cream sounds great, for example.
Of course, there are sometimes when pure professionalism must override simple branding needs. For example, a funeral directors or law outfit is best using the surname of the owners or partners to better illustrate what they are offering. However, no matter what name you go for, it’s important to choose a company formation agent you can properly trust. If you can do that, then you can jump on your name as soon as you think of it.
Your Social Media Presence
All businesses have social media pages. But we expect them to be fairly standard. They might promote goods they are selling, promotions they are running, or give support to those reaching them via Twitter. But it could be that your Twitter presence, for example, is something that gains you followers, retweets and likes all on its own. Then, that can be seen in the timelines of others.
Your social media presence surely matters. It can give you more than you think on your road to gaining an audience. We would recommend you champion causes within your industry. For example, it might be there is an unacceptable climate impact due to the product of one of your items. This might not be a problem specific to you, but one the entire industry tackles with. If you can decide to change this up by posting a plan of how you will change this, and what the industry could do to follow suit - you will be certain to gain attention through this example alone. Of course, ensure you actually follow up on your claims, as that’s the quickest way to oust yourself as a firm who wants to market themselves at all costs.
Understand Your Audience
Understanding your audience is a simple means to ensure they stay loyal and recommend you to friends. For example, you might notice that many of those who purchase your products and services have a penchant towards environmental action, to use that example again. This might mean you collaborate with a charity that plants forests worth of trees around the globe. For example, you might decide that with every purchase of one product, you pay for two trees to be planted. This might not work in all audiences (although something as globe-spanning as this can often be a big help,) but it shows you’re exercising goodwill and hitting the buttons of your demographic.
Focus study groups, advertising ID’s collated by social media tech companies, and of course your own interactions with customers can be a great idea. After all, learning to build on what what’s important to you and your industry, but ultimately the people those two things serve can be a great idea.
With these tips, you’re sure to gain a platform through your presence alone.
10 Reasons Your Business Needs Payroll Software
If you have a business and you have more than two employees, then you might need a payroll management system. Many companies are moving to new payroll software solutions to pay their employees. Why is it so? The countless hours of filing, paper-pushing, checking & re-checking of payroll forms, combined with the enormous cost of carrying out these tasks are reason enough for businesses to deploy a payroll software solution.
With ever-evolving elements of the payroll procedure, you should ask yourself, is your current solution able to keep up with the processes? Has your current solution brought about any essential benefits? If not, then you have another reason to get payroll software. Few businesses tend to understand that the benefits of payroll software go beyond just efficiency and cost-reduction matters. Below we have outlined ten reasons why your business needs payroll software.
1. Reduces operational cost.
Getting a payroll software solution that compliments your business purposes can be of great help. Reducing some operational necessities could ensure your company saves a lot of money. Payroll software allows you to cut costs by eradicating the need for outsourcing accountants or dedicated payroll companies who bring about unnecessary expenses each month.
Every country has statutory compliances related to payroll; failure to meet these compliances leads to considerable costs in terms of fines. Getting payroll software helps overcome this issue. Payroll software helps keep track of tax rates which change annually; failure to meet up to the expectations may lead to unnecessary expenses in the form of fines.
2. Save time
You are growing your business and want to focus your time on activities generating income. Payroll can be very demanding with the massive amount of operations needed to maintain everything in order. Spending hours every month filing, paper-pushing, checking, and re-checking payroll forms is not a wise use of your time.
End of year tax preparations also takes up a lot of time every month. Using payroll software and an HR replaces the vicious circle of commitment to payroll with a few clicks and help save the countless number of hours, as well as let the Finance and HR department focus on more important and pressing tasks.
3. Reduces human errors
With manual processing, there is bound to be errors which lead to feeding forms with incorrect data, miscalculating taxes, ignoring taxable items, and much more. These mistakes come at a considerable cost. As per a report, the IRS levied $4 billion in penalties from the businesses that made mistakes with their employment taxes.
Using an automated payroll system reduces human errors and omits mistakes in data entry and processing, this in turn help maintain impartiality and transparency across all departments in your business structure. With the help of payroll software, your employee's won't help but be more accurate, proficient, and flawless in every given task.
4. It is secure
The process of payment involves a lot of sensitive information that needs to be maintained and kept private. If your current payroll system isn't safe, you risk a lot. In the wrong hand's data like the full names, salary information, addresses, and social security numbers of employees can lead to severe crimes, including identity theft.
One of the essential features that payroll software offers is top notch security. Payroll software stores your sensitive employee data on highly secured cloud-based servers that employ the best encryption technologies as well as redundant data backups. Only personnel's granted permission through role assignments can access that sensitive data.
5. Automatic tax calculation
Taxes are, by far the most challenging aspect of the payroll process to manage. How are you calculating your employees' taxes? Are you making sense of the complex formulas? It takes a lot of time to figure out every employee's tax amounts. Using manual means to calculate taxes is bound to create errors which lead to miscalculations in taxes and ignoring taxable items, which is punishable with huge fines or jail time.
Payroll tax calculator exists to help you collect, organize, and report the financial data of your business. All you have to do is choose each employee's filing status, allowances, and any additional information, and the calculator will do all the rest. This software helps you do math faster and accurately and avoid errors and fines.
6. Employee portals
A payroll system will empower your employees to access all their pay and benefits records from anywhere at the click of a button. All other vital information about your employees can also be stored and accessed from this portal. Employee portals allow employees to edit their details, and withholding information as well as let them view relevant documents and access their payroll history.
This gives your employees have greater control over their work lives, which may, in turn, improve employee morale. Employee portals also save the employers' time as they can easily access and edit their employee's data, which is a tedious and cumbersome process with a manual payroll.
7. Customizable to your business needs
Payrolls are too diverse to fit into one default bundle. A lot of things need to be taken into account with salaries; like whether it's accommodating different payroll schedules, running payroll monthly or weekly, the compensation structures of the various benefits, roles, and bonuses e.t.c. Payroll software is flexible to take into consideration the way your business functions and will, therefore, expand with your business over time to meet your specific business needs. This dramatically reduces effort on the HR side to keep always verifying that all requirements are being adhered to.
8. Easy integration and access
Payroll software usually has integration options which enable the employer to give login access to employees and HR as well as syncing options with time tracking or attendance. Whatever your business demands are, software integration and features of payroll software allow you to collaborate with other people to smoothen and streamline your business processes.
Providing your employees with quick and easy access to their documents and data has many advantages including boosting the staff morale and productivity as well as frees the payroll and HR department allowing them to focus on more pressing matters.
9. Track time and attendance
You may have staff that is paid in the hours they've worked, others that have gone on paid or unpaid leave, and others working overtime. Manually tracking all this information can be a cumbersome and tedious process riddled with errors. Payroll software keeps a real-time record of every employee login and log out time, the number of leaves available for the entire year, and the number of leaves taken during a month.
This information helps you determine the average working hours spent by your staff and measure their productivity according to their work, allowing you to be aware of unneeded overtime, which employee needs a bonus, who needs to improve their performance levels, regular absentees and more.
10. Pay your staff via direct deposit
If you are using a manual payroll system, the chances are that you are writing paper checks for your employee's. This is not a bad thing, but what happens when your staff are on vacation during payday or on paid leave? Payroll software allows you to deposit your staff's paychecks directly into their bank accounts getting rid of the minor inconveniences brought about by paper checks. Your employees will stay happy and motivated knowing their salaries will be in their bank accounts on payday.
Payroll used to be a stressful, time consuming, and tedious task for payroll managers. Payroll software has made it a much simpler process for businesses. On a day-to-day basis, payroll software contributes to multiple procedures and workflow within your company and enhances productivity at a larger scale. Most importantly, Payroll software is flexible, simple, and offers customized solutions for your organization's needs.
The Psychology Behind Work Uniforms (What You Didn’t Know)
Everyday, we go to work. We wake up, take a shower, make sure we have everything we need in our bags, prepare our lunch packs and wear our uniforms. That is the life for most of us, 8 to 5 with weekends off, the regular stuff. But what most of us don’t realize is that there is one thing that stays with us for the entirety of our working days, and that is none other than, our uniforms.
The Loyal Outfits
Uniforms has been around since the old days, they have been used by most companies to indicate that a person is working for them. This allows them to distinguish which worker is their employees and prevent any spying in their factories and stealing any process, system or equipment that they have. Uniform may seem just a mandatory outfit but it means a lot more.
It may seem that the idea is very simple and we are just trying to make it deep, but hold on for just a couple of paragraphs and we will show you how important these uniforms are especially that we have the The Workers Shop to offer us with some good quality uniforms and with style. Buckle up your seat as we will embark on a deep journey to understand the psychology at work behind these uniforms we wear at work.
It Provides Awareness of the Brand
Uniforms normally have the company’s name embossed on it, this is not just to indicate that you are working for that company, but you are also unaware that you are already promoting the company itself. By letting other people see the name of the brand, it will eventually let them know at the back of their minds that the products that they buy from that brand are being worked on by actual human beings and not just some machine that operates by themselves. It also gives a sense of authenticity to the brand making all the people that you meet will notice your uniform and will feel that the brand provides quality service.
It Gives You The Image of Professionalism
Wearing a uniform does not make you any lower class worker, instead, it gives you that professionalism image since you are working for a certain company. It may seem a bit far fetched but that is the kind of image that you are portraying everytime you wear that uniform, especially if you are wearing it with your head up high and full of confidence. Make sure to keep it up as you may never know who you might inspire whenever you wear your uniform with pride.
Shows the Company’s Pride and Honor
We may not notice it, but the reason that the company put their brand and name on their employee uniform is that they are very proud that someone as brilliant as you are working for them, this also shows that no matter how small or how big the company is, they will always show their pride and honor whenever they let their employees wear their uniform, It also lets everyone knows that great and career driven people works for them, it then in turn show the pride and honor of a company.
This may sound a bit off but believe me, this is true. This aspect applies mostly to those who work on a construction site as their uniforms serves as their protective gear as well in order for them to be safe at all times and don’t receive that much damage if ever something happens, but for those who wear office attires or factory uniforms that has the company’s logo embossed on it, this applies as well, how? Simple. The damage within the workplace is not that severe for them compared to those who work in a construction site. With their uniforms, they are showing where they work and if ever something unfortunate happens then any person can notice them based on the uniform they wear, immediately anyone who’s around can get help and keep you safe.
The After Working Hours
So you see, there are a lot of things that we normally miss or don’t notice at all whenever we wear our uniforms. These are very essential part of our working days and we must take care of them with all our hearts, come to think about it, they are also a very loyal employee as well, making sure that you are safe and well known just by wearing them, but most of the time, it’s our uniform who normally takes the toll of being disregarded and neglected so be sure to give them a reward by giving them the kind of wash they deserve.
7 Things All Small Businesses Should Be Doing in 2019
It’s 2019, and things are changing the business landscape faster than ever these days. If you own a small business, there are a few things you should be doing to ensure you stay ahead of the curve and build that all important business reputation.
Let’s take a look at 7 things all small businesses should be doing in 2019.
1. Getting Clear On What They Want To Achieve
If you haven’t yet done this, then get to it now. You might have a rough idea, but you should clearly define what it is you’re looking to achieve, both in your personal and professional life. What’s most important to you?
Maybe you want to have a certain amount of sales over the next year. Maybe you want to spend more time with the people you love, and develop flexibility in your working schedule. Maybe you want to automate as much as you can to save time. Get it all down on paper or in a document to make it official.
Only you know what’s most important to you, so set some time aside to really think about it.
2. Getting Clear On Ideal Customers
Now you need to get clear on your ideal customers. Only when you know exactly who your audience is can you target them with your content and your products/services. Who does your business currently serve, and who do you want to serve?
Maybe you’re serving commercial clients, or parents with young kids. When you know who your ideal customers are, you should know what your value proposition is. Knowing why your ideal client should work with you rather than a competitor is key, and you need to be able to get this across. How are you different, and why are you the best option for them?
Your staff are just as important as your customers. Knowing what they need should be a huge priority to you. Priorities can shift over time, too, so it’s important to stay open to asking them again and again and then delivering on what they need. When they feel like you’re listening, they will have more motivation to work hard for you.
If you don’t currently have staff, it could be an idea to invest in something like a virtual office and mail forwarding to enjoy the professionalism of a popular address without having them on your payroll. You’ll benefit from never missing a message and looking more credible, without having to spend money on an expensive building and staff.
4. Focus On Improving The Customer Experience
Working on improving the customer experience is something you should be doing most days. You want to exceed expectations and build brand loyalty when it comes to your customers, so being a true customer-focused company is key. It should be your goal to provide a truly exceptional service.
5. Improve Your Company Culture
Your company culture is all about your core values and mission statement, and ensuring that your team fit your company culture. This is also something that can set your business apart and create a better atmosphere.
6. Prepare to hire
If you know you need to hire an employee or two, being prepared is crucial. It’s a time-consuming process, so now is the time to start preparing. You need employees who have the right skills, so make sure you know what’s important when drafting job descriptions and doing interviews. Obtaining documents is also important, as you’ll need to make sure you’re hiring somebody who is fit to work for you and that they are who they say they are.
Make sure you’re prepared to speak to references, carry out background checks, and even have a multi-layered interview process so you can be absolutely sure you’re hiring the right person for the job.
7. Update your social media presence
If you’re bad at updating your social media channels, it’s time for that to change. Updating your images, posting regular content, and keeping your audience engaged is absolutely key to making a success of your socials. Many people will check out social media before deciding whether to work with a company or not, so having yours up to date and reflective of your business is key.
Remember, the goal is to be social, not to go in for the hard sell. Having somebody focus on your social channels for you might not directly make you money, but it will keep your audience engaged and can ensure they have their questions and queries answered asap.
Overall, this provides a better experience with your brand and will ensure you develop a better reputation!
Finding The Best Exhibition Stand Contractor
When one is participating in an exhibition or a promotional event it is absolutely crucial to have an effective and attractive exhibition display stand. There is a lot that needs to be thought about when considering what design and build to go for, such as, price, colour, style, design companies, shape and material used.
When it comes to picking an exhibition design company it is absolutely crucial to put a huge amount of forethought into deciding which one to go for. This is because the success of the exhibition stand largely depends on the ideas, design and build that they come up with and therefore it is highly important that one opts for the best possible exhibition stand contractors available.
This blog post aims to give a helping hand by providing individuals with tips and guidance regarding certain factors they should be looking at and points they should be considering when looking for contractors to design and build their exhibition stand.
The first thing that people obviously need to consider is the prices that the company in question charge for the service that they are providing. The best thing to do is to get quotes from several companies and compare them in order to get an idea of the average price for design and build. This means that people can ensure that they do not end up paying too much but it also allows individuals to ensure that they find a good deal as well. Nevertheless, it is unadvisable to go for the cheapest service found because this could indicate a lack in quality and this is something which cannot be risked.
The next thing that people need to consider is the reputation of the company that they are considering. This is not a service whereby the design and build of an exhibition stand can be dealt with half-heartedly. The more experience is certainly the better as it means that the company will have the unique insight and knowledge to deal with any queries, issues and requests that come their way. They will also have enough insight regarding the industry to know what will work and what will not for the business in question. It is highly unadvisable to opt for a start-up company.
A final thing which should be contemplated is what previous clients have thought about the company and the service that they received. In order to discover this information all that one needs to do is search the name of the company in Google and proceed to check out the relevant forums. There they can read the comments people have left and gauge a general feeling as to whether the company is reputable or not.
To conclude, finding one of the best exhibition stand contractors is obviously highly important and requires a lot of thought. Nevertheless, if the points in this article are considered then this task should be made a lot easier.