Leadership by Reginald Chan focuses on thought leadership, ways to become a leader and helping one to become a leader. This is a leader in the making group.
There are many factors that influence the success of a business. However, there are some that seem to have a bigger impact than others. Among these, there are two that stand out – company culture and marketing.
Company culture should be an organization’s answer to the question “Who are we?” This is the way it should think about its vision for the future, its values, its goals and how it will do business in this world. If you don’t have a company culture you can’t create a strong brand identity or truly engage with your customers.
Marketing is all about getting people to notice your product for sale in stores or online while also generating interest among potential buyers. It’s important to understand how marketing works in today’s world because it’s crucial for any entrepreneur to do it.
But that’s not all, let’s look at the key growth factors in more detail.
1. Create a Business Plan
A business plan is a formal presentation of the structure, management, and financial aspects of a company or other organization. It often contains detailed information about the background and development of the company, its products or services, marketing strategies, and financial projections for the next three to five years.
A business plan is different from other business documents like an “operating plan” (a short-term course of action) or a “strategic plan” (a long-term course of action). A strategic plan typically considers factors such as market changes or competitive pressure that may affect a company’s risk profile.
A good business plan should be reasonably comprehensive so that it can provide investors with information they need to make an investment decision. In many cases, creating a well-structured and informative business plan can help you achieve your goals. It will also form the basis of your success.
2. Choose a Suitable New Premises
The next step for a start-up is to find a suitable location. The choice of a business premises will have a major impact on the day-to-day running of the company and so it needs to be carefully considered. There are many factors that may need consideration, such as rent, accessibility, parking, amenities and more. You may also need to look into movers to hire. Especially if you’re moving from a home space.
In the past, those looking for premises would have to physically search all available properties in their area – which could be time consuming and also expensive as they would then need to secure the premises. Today’s technology now provides an alternative option – searching online for business space – which can be done from any location at any time of day or night.
3. Grow Your Audience
Every entrepreneur needs to know who their target audience is and understand their needs and wants. If you do not know who your customers are, you cannot create marketing campaigns that appeal to them.
There are many ways to grow your business and get more customers or clients. You can offer discounts or incentives for people to buy from you, advertise in other places like TV or radio, run a competition with prizes so more people can enter – these are just some of the options.
Ambitious entrepreneurs are always looking for new ways to build their portfolios and increase influence within their industry. If you feel you have mastered the art of online business and experienced exceptional growth, you can consider other areas to explore.
And why not look at existing businesses that could do with a helping hand from a passionate entrepreneur? Before you take the step, you should know what to expect from purchasing an existing business to make sure you can make it a success where the previous owners struggled.
It Gives You A Chance to Diversify
Not everyone is adept at knowing how or when to add new products or services to your business, so purchasing an existing business can do the hard work for you. No matter what you do right now, there is always room to show that you’re more than a one-trick pony, and increasing your service can help you take the next steps towards strong company growth.
Many entrepreneurs are put off by this as they don’t think it fits their mold. This reduces the competition and puts you in a strong position to get ahead and spread your influence.
The Product Is Proven and Established
One fantastic benefit of purchasing an existing business is how the product and even the name is already a proven entity and it has been established within the community for a long time already. This should make it easier to build a greater following, both online and for physical stores if you want to keep things familiar, at least at first.
It should also make it easier to obtain business insurance, which will protect your new venture from possible problems that you might encounter. These issues can include cybersecurity, giving you the confidence to focus on rebuilding this business.
You Can Mold It To Be A Success
While the business may not have achieved what the previous owners expected, you can take the most popular companies in the area and mold them to your vision to help them become a success. If you are serious about building an entrepreneurial empire, you can identify where the previous owners went wrong, and make effective changes that improve the company.
Some entrepreneurs will opt to completely remove the physical aspect of the store and instead rely on an online model. This adds multiple layers of convenience and relieves pressure from customers. With this, you revolutionize the business to suit contemporary trends and consumer needs.
You May Need to Rebuild Its Reputation
It doesn’t matter why the business failed in its previous incarnation, what matters most right now is that you make it a standout company that will have customers flocking to the site, browsing products or services, and going through with the purchase.
However, you may find it difficult to repair a reputation. There will always be some stigma attached to it, especially locally. Knowing what went wrong beforehand will give you the information you need to make necessary adjustments that help its reputation flourish.
You Won’t Need to Deal With As Much Startup Time
Businesses that started from the ground face plenty of challenges, and it can take months to see a profit. As this business already has a place in the area – and the industry – you can avoid a lot of the traditional startup time that you’d face otherwise.
This can help you hit the ground running immediately and take away the stress that could cause you to spread yourself too thin. With the right approach, the business will promote itself, meaning you can balance everything at once and even control both companies from one convenient hub on your computer or other devices.
Research Is Essential
You will, however, still have some issues to work around. One of the most significant issues you will face is finding out how to get ahead or even separate yourself from competitors.
Before buying the business outright, you should carry out deep, detailed research that tells you everything you need to know. From here, you can make the necessary changes to your company and plan your new marketing campaign that separates it from the past with an eye firmly on the future.
New Investments
Any investment poses a risk no matter how much you think you know. However, with your expertise in running a successful online business, you can bring your new enterprise into the modern world and make those changes that – to you – seemed obvious all along. Updating these companies without the stress of receiving funding or establishing a brand should appeal to any entrepreneur, so consider this the next time you’re thinking of growing your business portfolio.
Fleet management is a must for any vehicle owner. Fleet management can help you save time, money, and resources while also being a great way to boost the efficiency of your business. We’ll explore what you need to consider when it comes to fleet management, including mileage tracking, GPS capabilities, and even fuel efficiency. Let’s start!
What Is Fleet Management?
Fleet management is a broad term that applies to the management of any number of vehicles. It can include anything from a single vehicle to thousands across hundreds of locations, and everything in between. Fleet managers need to keep an eye on several items, including mileage tracking, fuel efficiency, trailer utilization, GPS tracking of employees and employees’ vehicles, fueling records, maintenance schedules, driver behavior logs, security cameras for employee safety, and more. This is especially important for large businesses with a significant number of vehicles.
The Basics of Fleet Management
To have a smart fleet system set up, you’ll need certain basics in place moving forward. This includes: A reliable software platform Auto-enrollment for all employees An easy way to check the status of each business vehicle A good warranty program in place
Vehicle Usage Tracking
Keeping track of how each vehicle is being used will allow you to make better decisions when it comes to maintenance, repairs, replacement costs, and more. The best way to do this is through a mileage tracking system. Add up the total miles driven by all employees for a given time period using GPS tracking software. This can be done with something as simple as an Excel spreadsheet or an automatically generated report. Mileage data should be compared against the manufacturer’s recommended intervals for every service performed to determine if additional work needs to be done preemptively to avoid costly repairs down the road.
Fuel Efficiency
Fleet managers should also keep track of fuel efficiency to maximize savings. How much does it cost to fill up your car or truck? This is something that can be determined by tracking every fill-up with a quick swipe over a gas card. Figure out what types of mileage are being achieved on average, and what type of performance your fleet is seeing overall. Maintenance costs and vehicle replacements should factor this information into their calculations when budgeting for the future.
GPS Monitoring for Employees and Vehicles
Keeping track of where every single vehicle is at any given time might seem like an excessive amount of data to handle, save for in some cases. Knowing whether or not each employee arrived at work safely is a great way to ensure safety for both employees and the public. GPS tracking can also be used in unfortunate events when an accident does occur, or in the case of employee misconduct on company time. These are all legitimate reasons for using GPS monitoring software in business fleets.
Keeping Tabs On Your Fleet At All Times
Fleet managers must keep an eye on their fleet at all times. You’ll need quick access to data on location, what routes are being taken by each vehicle, who is driving which car, maintenance reports, fuel logs, accidents, driver behavior logs, speed maps generated by GPS tracking software, weather reports sent straight to each vehicle equipped with connected technology…the list goes on and on. Without such an information hub, fleet managers will find it difficult to garner the insights they need to make educated decisions moving forward.
Maintenance Planning
Keeping track of when certain maintenance tasks should be performed in the future is also important to ensure they get done by employees who might not prioritize it on their own. Look at every service your vehicle needs, and create a calendar for when each one should be completed.
Security Systems
Security systems for several different applications are a must in the modern business world. Cameras can be used to monitor employee safety and vehicle usage, especially in large lots with dozens of cars coming and going throughout the day. Security cameras can also be used to keep track of exactly who is driving each company car at any given time, helping fleet managers figure out when employees may need additional training or discipline as necessary.
Telematics
Telematics is a method of tracking data related to vehicle maintenance, fuel efficiency, and more. This includes speed alerts, hard braking events, harsh acceleration events, idling time for each driver, and even if the windows are open or closed. Fleet managers need all this information at their fingertips to make informed decisions about speeding tickets or preventative maintenance on any given vehicle.
What You Should Do First
When it comes to fleet management, the first thing you should do is make a plan and stick to it. Decide what your long-term goals are before you move forward with any tangible actions or investments that will need to be made. Setting up an information hub utilizing various software solutions that encompass everything listed above can also help with achieving success in any area of business you’re looking to grow.
The best way to save money when it comes to fleet management is through preventative maintenance and accurate tracking of all mileage and fuel efficiency data. This can help avoid costly car repairs in the future, while also ensuring every vehicle has the most optimal level of performance moving forward.
Make sure your employees understand their responsibilities when it comes to managing company vehicles, and that means more than just driving safely. It’s also important for them to know how to perform routine maintenance tasks themselves or seek assistance when necessary. Lastly, make sure you’re aware of any additional legal requirements your company may need to follow related to fleet management, especially if you plan on using GPS monitoring software with enough detail available for public consumption.
Vehicle fleet management is an important term that refers to the process of keeping track of any number of vehicles used across your business or company. It can include anything from tracking mileage and fuel efficiency to GPS monitoring employee behavior and whereabouts, accident reports, driver logs…you name it! The more information you have access to about your fleet’s status overall, the better decisions you’ll make moving forward with expenses like repairs, replacements, and employee training.
AI is being used in more and more industries, but AI recruitment has been a recent trend. AI can be used to find the right candidate for a job opening by looking at all of the possible candidates. AI recruiters can speed up the process of finding qualified applicants while still considering things like company culture fit. This blog post will go over how AI is revolutionizing recruitment.
What is AI, and how does it work?
AI is a computer program that can complete tasks on its own. AI looks at data, decides what the best outcome might be, and then completes that task. AI recruitment uses big data to make decisions about who would be a good fit for an open position in a company. The AI recruiter will look through resumes of potential applicants and find the best fit for the company. AI can do this task faster than a human could, and it can look at more candidates, therefore finding better applicants in less time.
What are some AI recruitment examples?
AI recruiters have become popular because they are fast and effective ways of hiring employees. Some AI recruitment systems use social media profiles to get a better idea of the personality of an applicant. For you to dig deeper and understand AI more, make sure to research online sources. This will allow you to come across useful sites that you can explore and delve into what you can learn with phenom.com. AI recruitment is used in many industries to find qualified applicants for high-level positions like CEO, CFO, and even AI engineers.
How does AI work in recruiting?
A machine learning algorithm analyzes data on potential employees that are either already employed or recently applied for a job at the company. AI recruitment looks at the history of applicants, where they went to school, and their work experience, which gives AI a pretty good idea about who would be a good fit for an open position in the company.
AI can also consider employment gaps or any red flags regarding previous jobs that might mean someone is not qualified for this specific job opening but could be a good fit for another position. AI recruitment can also be used to screen resumes and schedule interviews with the best applicants, which allows recruiters more time to focus on other aspects of hiring someone new for their company.
What are some AI resources?
There are many websites that you can check out to get detailed information about AI. AI is such a complex topic that it’s best to start at the beginning to understand AI more. It might be intimidating, but AI is so prevalent across many industries and there are tons of job opportunities out there for you depending on your field of study or career preference.
How it can be used to improve the recruitment process
AI can be used in recruitment to speed up the process and improve it. AI can be used in recruitment for several purposes, including but not limited to: candidate screening and selection, automated resume sorting, analytics on hiring data, and employee engagement surveys among others. In this blog post, we will outline some examples explaining how AI is already being used by recruitment companies to improve the recruitment process.
Candidate Screening and Selection
AI can be used in the screening and selection of candidates by scanning resumes, applications, or other relevant documents for keywords that are associated with a given position. When AI is applied to candidate data during the early stages of resume sorting, it allows recruiters to prioritize applicants based on their skill set, experience, and job requirements. AI is a very useful tool in the screening process, as it helps reduce time spent on candidate evaluation, freeing up human resources for more complex tasks that require their skill set or attention.
Automated Resume Sorting
AI can also be used during resume sifting by creating algorithms that will assign each candidate a rating based on their resume. AI is a very useful tool in the screening process, as it helps prioritize applicants and save time for recruiters who would otherwise spend hours sifting through unqualified applications.
Analytics
AI can also be used during hiring by gathering data from past recruitment campaigns, e-recruitment systems, or other data stored in company databases. AI is a very useful tool when it comes to gathering recruitment and hiring data, as the ability of AI programs to store and retrieve information at great speed allows companies to analyze their recruitment strategy from different angles. AI is extremely helpful during campaigns by identifying which adverts are performing better than others, where candidates are coming from, and even where to place future ads. AI can also be used in the data analytics process by identifying trends in hiring, helping companies pinpoint problems, or identify what works well for them in terms of their recruitment strategy.
Employee Engagement
AI is being applied to employee engagement surveys as a tool that will help with measuring motivation levels within an organization and help companies discover what their employees think of them. AI is a very useful tool in the engagement process as it helps gather and analyze data, allowing companies to pinpoint problems or identify what works well for them in terms of their recruitment strategy.
AI can also be used during hiring by gathering data from past recruitment campaigns, e-recruitment systems, or other data stored in company databases. AI is a very useful tool when it comes to gathering recruitment and hiring data, as the ability of AI programs to store and retrieve information at great speed allows companies to analyze their recruitment strategy from different angles.
There are several benefits to using AI in recruitment, but the biggest takeaway is that it can make people’s lives easier. The future of talent acquisition is in the hands of AI. If you want to get ahead, investing time and resources into understanding how your company can use this technology will be essential for success.
A business is an investment. You invest your time, money, and confidence into it. Starting a business comes with a lot of risks, which is why you need to ensure that every area of your business is properly insured and taken care of.
Insurance will protect you against any potential risks. There are many different types of insurance. If you own a business, you’ll need at least three different types.
In this article, we’ll tell you the different types of business insurance, and you’ll find out how you can protect your business the right way:
Public Liability Insurance
Public liability insurance is a very important type of insurance. It’s one of the most basic types of business insurance, and it’s an absolute necessity if you intend on interacting with the public. Public liability insurance will protect you from any personal injury claims made by clients, customers, or members of the public. If you operate your business online, then public liability insurance might not be necessary. Most businesses that interact with the public (restaurants, bars, and shops) will have public liability insurance. Those that don’t are playing with fire. If a personal injury claim is made against a business that doesn’t have public liability insurance, it could potentially be driven to bankruptcy.
Professional Indemnity Insurance
If your business gives advice or offers professional services to other businesses, you might need to invest in professional indemnity insurance. If your business handles intellectual property, sensitive information, and client data, then you might also need this type of insurance. If your business makes a mistake and your clients are impacted by it, then professional indemnity insurance can cover you against any compensation claims that are made. It will also cover your legal fees. Some businesses are required by governing bodies to have this type of insurance.
Employers’ Liability Insurance
This type of insurance is also very important. If you employ staff, then you’re legally required to have this insurance. It will cover you against any compensation claims made by staff because of illness, injury, or personal damages. It’s very important that you take this insurance out, even if you discover that you’re not legally required to (some businesses are exempt). If any of your staff do decide to make a personal injury claim, this can be very costly for you and your business. It can even lead to bankruptcy if you’re not covered by insurance.
Buildings Insurance
This is a type of insurance that’s absolutely necessary, even if your business operates from home. Buildings insurance is predominantly taken out for shops, bars, restaurants, and office buildings. If you rent a building, then you will need to discuss building insurance with the landlord before you take out a policy. Buildings insurance will offer you protection against any financial loss incurred as a consequence of interruption or damage to your business because of your building, like graffiti, fire, or damage. If you’re on a budget and wouldn’t be able to afford repairs to your business’s building, then this type of insurance will come in handy.
Contractors Insurance
If you do any form of contact work you need to have contractor insurance to protect yourself or your employees. Contactor insurance will protect you or an employee in case there is damage to someone’s property while you are working for them. It also protects you should you physically injure someone while you are doing contractual work on their property. A large claim that is not covered by insurance has the potential to bankrupt your business so give yourself peace of mind by getting this insurance.
Contents Insurance
Buildings insurance will just cover the cost of repairing the façade and exterior of your business. If your business is damaged by a fire or a flood, buildings insurance won’t cover the interior of your business. For this, you will need contents insurance. Contents insurance will cover the cost of equipment and tools if they are damaged, lost, stolen, or destroyed. This type of insurance will pay you the cost of these tools for replacements. It will also pay for the cost of repairs if repairs can be made. If you didn’t have this insurance and your tools were damaged, you would probably be unable to pay for all of them and keep your business operational.
Product Liability Insurance
Product liability insurance is very important if you manufacture and retail products. This type of insurance will protect you if a customer of yours is injured as a result of a faulty product. Even if you don’t manufacture the product, you could still potentially be held liable, which is why you need to be covered by this insurance if you own any type of shop or eCommerce website. You can be sued for a lot of money if you’re found to be liable for selling faulty products, which is why it’s crucial that you invest in product liability insurance.
Personal Accident Insurance
If you’re a sole trader or you run your business alone, personal accident insurance is definitely something to think about investing in. You can get a personal accident insurance policy very cheaply. This type of insurance will compensate you financially if you’re unable to work because of a serious illness or injury. This type of insurance can be instrumental in keeping your business alive while you’re not able to work. It’s a worthwhile investment to make because it will ultimately keep your business operational. If you were unable to work for a long period of time without financial compensation, there’s a chance your business would fail. With the cash injection afforded by personal accident insurance, you don’t ever have to worry about your business closing because you’re sick.
Business Interruption Insurance
If your business is interrupted by damage, such as a flood or fire, business interruption insurance will provide you with financial compensation. This financial compensation will get you back on your feet and help you to keep your business operational. This type of insurance is typically taken out in conjunction with buildings and content insurance.
Legal Protection Insurance
As a business owner, you never know when somebody is going to try and take legal action against you. Legal protection insurance will cover your legal expenses and cover any costs associated with them. This type of insurance will pay out whenever you find yourself in any situation where your business has to pay for its legal defense. Legal protection policies are not usually very expensive and they’re a worthwhile investment into the future of your business.
It’s fair to say that insurance is very important for your business. If you care about your business’s future and the time and money that you have put into it, then you need to invest in insurance.
Let’s accept the numerous challenges that the small business owners face that make it even more challenging for them to grow and successfully establish themselves in the market. First, budget and time constraints for small businesses put them in a tough spot. Therefore, these businesses need practical solutions and growth hacking methods to emerge in a limited time victoriously. Growth is critical to every business, and if left unattended, it can rapidly eat up your company’s revenue.
Sean Ellis discovered and explained growth hacking as he observed the limited growth measures in the conventional marketing systems. It is a step towards experimentation and adopting new methods to grow your business by overcoming its hurdles. It is tricky to grow in the market with less cash and not a massive team to deal with different aspects. It needs the right plan and consistent efforts to grow tremendously and remain relevant in the long term, which is a significant part of this notion.
According to digital marketing experts that offer SEO in UAE to leading brands, content marketing is the only credible way forward. If you are looking to build your brand organically, you need to develop your blog section as an informative resource. This will help you get traffic on the blog articles, which can then be redirected to your product or services pages. Brands and agencies need to realise that people are looking for solutions to their problems and are not interested in aggressive product-pushing anymore. Content Marketing helps brand build credibility and reputation and allows for better sales and revenues.
This concept is beneficial in modern times as it seems like a new methodology to businesses with several benefits covered in one. It gives a competitive edge and fulfills all the essential requisites to a successful business with a broad consumer base.
Let’s understand the entire notion in a better manner:
Seven simple growth hacks
Choose The Right Platform for Your Website:
There’s a need to be extra cautious when selecting the platform for the business. One wrong decision can cost you a massive amount of money and hinder the company’s overall potential. There are several trusted platforms among the users that offer additional benefits for small businesses.
Platforms like WordPress are popular among users for the security-related benefits it provides in addition to its reach in general. After some time, you can update the version with more perks to widen the expanse of your business.
Install an SSL Certificate for Security and Credibility:
Irrespective of the size of the business, the users today are much more aware of ensuring their security in cyberspace. Even while looking at the growth hacking methods, the importance of SSL Certificates cannot be ignored. They offer premium security by encrypting the in-transit data exchanged between the web browser and the client-server. There are different types of SSL Certificates with different validation levels. Therefore, it is of paramount importance to make the right choice that best serves your unique needs.
Small businesses often have a limited budget for buying cybersecurity products and envision expansion in the future. We suggest investing in RapidSSL certificates for such bespoke requirements as they offer a wide range of cybersecurity products at low prices.
Plan a Content Marketing Strategy:
There must be a pre-planned strategy and a clear viewpoint on the type of content to be created. It should include relevant and valuable content for the users that can attract them in all ways. It also has comprehensive ideas to be presented in an organized manner. The knowledge and use of keywords must be appropriate to cease the growth game in the market.
An effective content marketing strategy as positioned among the main growth hacking methods can help you emerge successfully in the market. As it is seen, like big businesses, small businesses are also working towards their content marketing strategy in full force to build an association with the audience that too for a long term.
Social proof:
Social media force can be a driving factor for your small business, and psychology suggests the same. It would help if you employed the power of social media to make your business grow. Social media platforms like Facebook, LinkedIn, and Twitter can change your business game. It can provide you that much-required push in the market.
Trusted online reviews accompanied with testimonials work as much as personal recommendations, and the figures suggest the same. Comments from the users appreciating your products may not look like a big step to you, but they can influence others’ purchase decisions. It is essential to avoid any negative comments and build a positive social media image to do better in the market.
Make Data-Based Decisions with Google Analytics:
Google Analytics will sort more than half of the research work for you. It provides insight into the users approaching your business, the tendency and market nature they are displaying, and their requirements and expectations.
It gives you the information in an organized manner and shows the behavior of your audience that is going to help you with all the significant decisions to be taken. It helps you in adaptive planning and strategizing towards a successful business with time.
A/B test your website:
To obtain excellent results in email subscriptions to the business, split testing shows great results. This method is budget-friendly and does not require massive technical interference. With the number of tools available for A/B testing, one can employ them for their small business to position themselves amidst the tough competition.
Now you can grow your business online through this simple methodology that involves just a few clicks. The process is not lengthy and looks after important aspects like page layout, imaging, and many more on your behalf.
Feedback:
Feedback gives you a real insight into the key areas that require immediate attention. It allows you to work on your business from the perspective of your audience. This can be kept survey-based, using social media, or through emails.
Survey tools like this one can now be employed to do the task for you and collect the data. Feedback can work constructively and help you in building your business in a better manner. This is considered a very fruitful effort as the statistics also suggest their critical role in developing a business.
CONCLUSION
One can follow all the tips mentioned above and tricks to show progressive growth in the market. It is not a difficult nut to crack when it comes to establishing yourself in the market. An amalgamation of all the mentioned tips and tricks paired up with consistent efforts towards the same will display marvelous results in no time.
