3 Ways To Manage Your Company’s Finances


3 Ways To Manage Your Company's Finances

One of the most complicated parts of running a business is managing its finances. They can be a source of stress for multiple reasons; not only could there be legal compliance issues at play, but you’ll need to make sure you have enough tucked away and coming in to cover your expenses.

Figuring out how to manage your company’s finances can be difficult, however, especially as a first-time business owner. Quite a few factors have to be thought of while multiple things may need to be managed. You’ll need to keep a few things in mind to make this easier.

How To Manage Your Company’s Finances: 3 Top Strategies

  1. Plan & Forecast

Having a financial plan can be vital to ensuring you manage your finances effectively. In many cases, it can be impossible to do so without it. While this can change somewhat from business to business, you’ll need a framework to keep track of your expenses.

As an example, you could plan to spend:

  • 50% of your revenue on payroll and similar expenses;
  • 30% of your revenue on your growth;
  • 15% of your revenue on developing new products or services, and;
  • 5% set aside for unexpected events.

While you can change the percentages based on your business, having a similar framework can help you manage your company’s finances much better.

  1. Hire A Professional

If you don’t know how to manage your company’s finances effectively and the thought of it stresses you out, you can always hire a professional. You wouldn’t even need to have a full-time employee oversee this; you can outsource it to save on costs.

The main advantage of this is hiring them as and when you need them. If you only need help with taxes, for example, then working with a tax advisor can be well-recommended. It’s a cost-effective way of managing your business’ finances without needing to spend a lot of time stressing about it.

  1. Be Realistic, But Have Ambition

As an entrepreneur, you’ll need to have a lot of ambition; you’ll need it to keep growing. At the same time, however, you’ll also need to be realistic. While that’s predominantly used in reference to business goals, it’s also the case for your finances.

You’ll make countless financial decisions as you run your business. Not all of these are going to be as positive as you’d think. Some might turn out completely different from what you had intended. You’ll need to keep this in mind as you’re making your decisions.

Despite the effort you put into managing your company’s finances, things can sometimes go wrong. The key to this is learning from your mistakes and ensuring you keep moving forward. At the same time, make sure you have backup plan in place for anything that could go wrong.

How To Manage Your Company’s Finances: Wrapping Up

Once you know how to manage your company’s finances, it becomes much less stressful. While you’ll still need to make sure things are done properly, it doesn’t need to be as overwhelming as you’d expect. There shouldn’t be anything getting in the way of making it much simpler.

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How To Prioritize Your Most Important Interests: Balancing Business And Family Responsibility


How To Prioritize Your Most Important Interests: Balancing Business And Family Responsibility

Do you feel like you’re constantly pulled in different directions? Do you feel like you can’t seem to find enough hours in the day to get everything done? You’re not alone. Many people struggle with balancing their business and family responsibilities. In this blog post we will discuss some tips for prioritizing your most important interests and creating a balance that works for you.

  1. Understand How These Aspects Are Interdependent

The first step is to understand that your business and family responsibilities are not separate entities – they are interdependent. Just as your family depends on you to provide for them, your business also depends on you to keep it running smoothly. If one area starts to suffer, the other will likely follow suit. This is why it’s so important to find a balance that works for you.

Some people find that they are able to focus more on their business when their family life is stable, and vice versa. Others may find that they need to dedicate more time to one area to keep the other afloat. There is no right or wrong answer – it all depends on your individual situation.

  1. Your Business Interests Keep Your Family Ahead In Life

Your business is what provides for your family – it puts food on the table and a roof over your head. Without it, your family would likely suffer. As mentioned in the section above, it’s so important to maintain a healthy balance between business and family responsibilities.

As a business parent, it is vital to put your best foot forward to secure sufficient resources for your loved ones. Here are a few tips you can use to ensure you have enough stable business flowing in:

  • Project A Credible Brand: A credible business projects strength, stability, and reliability to clients. This is essential when it comes to securing new contracts or clients. This means working on your website to polish your look, using an online virtual mailbox to provide an official address, or providing credible references on past work.
  • Diversify Your Income Streams: Don’t put all your eggs in one basket. Diversifying your income streams will help to ensure that you have a steady flow of cash coming in, even if one area of your business slows down.
  • Market Extensively: Having too much work and not enough time to complete it is a good problem to have. To maintain a healthy cash flow, you need to ensure that your pipeline is full. This means marketing your business extensively and always looking for new opportunities.

What are other tactics you use to ensure a stable inflow of cash? There are no wrong or right answers, and most insights can add value.

  1. Work Hard And Play Hard

You’ve heard the saying “work hard, play hard” – and for a good reason. Being able to compartmentalize your work and family time is important for maintaining a healthy balance. When you’re at work, focus on work and put your family responsibilities to the back of your mind. When you’re at home, focus on your family and leave work at the office.

It can be difficult to switch off from work when you have young children at home, but it’s important to try. Spending quality time with your family will help to create a strong foundation for your children and will give you the energy you need to focus on work when you need to.

Some people find it helpful to set regular “office hours” – for example, from Monday to Friday, from 9 am to 5 pm. They focus solely on work during these hours and try not to let anything else interfere. Once office hours are over, they can then focus on their family and personal life.

Remember that you are not alone in this struggle. There are many other business parents out there who are trying to find the right balance between work and family responsibilities. Take the time to assess your situation and determine what works best for you. And don’t be afraid to ask for help when you need it.

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How to Optimise Your Website for Maximum ROI


How to Optimise Your Website for Maximum ROI

As a business owner, you’re always looking for ways to increase your ROI. One of the best ways to do this is to optimise your website for maximum ROI. This blog post will discuss some tips on how to do just that and cover everything from design and layout to content and marketing. So whether you’re just starting out or you’ve been running your website for a while, this post is for you!

1) Make sure your website is mobile-friendly

In today’s world, more and more people are using their smartphones and tablets to access the internet. This means that if your website isn’t optimised for mobile devices, you’re missing out on a huge portion of your potential audience. Make sure your site is responsive and easy to navigate on all devices.

In addition, Google has now started to penalise websites that are not mobile-friendly, so this is something you definitely want to take care of. There are a few different ways to make sure your website is mobile-friendly.

First, you can use a responsive theme or template. This means that your site will automatically adjust to fit any screen size. Second, you can use separate mobile versions of your website. And third, you can use dynamic serving, which serves different HTML codes depending on the user’s device.

2) Use an engaging and effective design

Your website’s design is the first thing that visitors will notice, so it’s important to make a good impression. Keep your design clean and clutter-free, and make sure it reflects your brand in a positive way.

In addition, your website should be easy to navigate. Visitors should be able to find what they’re looking for quickly and easily. If your site is confusing or difficult to use, people will likely give up and go somewhere else. Finally, pay attention to the overall aesthetic of your site. The colours, fonts, and images you use all play a role in how effective your website is. Choose wisely!

There are a few different things you can do to ensure you have an engaging and effective design. First, you can use a custom or premium theme. This will give you more control over the look and feel of your site. Second, you can hire a professional designer to create a custom design for you. And third, you can use a drag-and-drop website builder to create a unique and customised design. Whichever route you decide to go, make sure your website’s design is up to par

3) Utilise SEO best practices

If you want your website to be successful, you need to make sure it’s optimised for search engines. This means utilising SEO best practices to ensure your site appears as high up in the search results as possible.

There are a few different things you can do to optimise your website for SEO. First, you can get in touch with a reputable company like Mighty Social to choose the right keywords and phrases to target. These should be relevant to your business and products, and they should be terms that people are actually searching for. Second, you can improve your website’s content by making sure it’s well-written and informative. Third, you can build links to your site from other high-quality websites.

In conclusion, if you want to optimise your website for maximum ROI, there are a few things you need to do. First, make sure your site is mobile-friendly. Second, use an engaging and effective design. And third, utilise SEO best practices. By following these tips, you can ensure that your website is as successful as possible!

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Thinking About Having An Office Revamp? These Tips Will Help


Thinking About Having An Office Revamp? These Tips Will Help

What colour scheme do you want?

It is important to think about how much of an effect the colour scheme has on a business. People who do this need to think about a lot of things. In terms of colour schemes, you should think about how much of a difference this can make in the office. There are many ways to change the colour in a room to make it brighter and more relaxing to work.  This might mean going outside the box a little.

Can you make more space? 

One of the best things you can do to improve the office environment is to try to make more space where you can. There are many things that help the company move forward, and this is important from a practical point of view. Because there is more space, people are not always on top of each other. This makes a big difference. It makes it easier for your employees to do their jobs, and the working day can go on with a fair amount of peace. Make sure you get this right!

Can you make it more practical?

Because practicality is so important in the layout and design of the office, this is also true. There are so many ways to make it better and change things. This is why you need to do all that you can! You need to think about having enough power points, desk space, and storage. It is easy to forget how important a lot of these things are. By making the office more practical, you will also make it more productive, which will make things better for the whole business in the long run.

Can you add more light?

Light is vital in a workplace. Natural light is the best – so big clear windows letting plenty of sunlight in should always be your first choice if possible. Of course, this is not always feasible. In this case, commercial electrical contractors should carefully install high-quality lighting that mimics daylight to help your employees see better and feel better. 

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Schedule Stability and Productivity What You Need to Know


Schedule Stability and Productivity What You Need to Know

There is a lot of debate surrounding workforce productivity and how to improve it. Some people say that stable scheduling is the key, while others believe that flexible working hours are the answer. However, there may be some truth to both of these statements. This blog post will explore the relationship between scheduling and productivity.

Scheduling and Productivity: What’s the Connection?

Productivity in the workplace can be a challenge. There are a lot of factors that can affect how productive employees are, from the type of work they’re doing to the environment they’re in. One factor that is often overlooked is scheduling.

While it might not seem like something that would impact productivity, stable scheduling can make a big difference. When employees have regular schedules, they know when they need to be at work, and they can plan their lives accordingly. This can help them manage their time better and be more productive at work.

There are a few ways to create more stable schedules for employees. One is to develop set shifts that don’t change from week to week. This way, employees will always know when they need to be at work, and they can plan their lives around their work schedule. Another way to create more stability is to allow employees to request their preferred shifts. This way, they can choose the times that work best for them and are more likely to be productive.

The Importance of Employee Input in the Scheduling Process

Employee rota auto scheduling can be a delicate balance. If you over schedule your employees, they may become overwhelmed and bogged down with too much work. This can lead to lower morale and even higher turnover rates. On the other hand, if you under schedule your employees, they may get bored and feel like their talents are being wasted. The key is to find a happy medium that works for both your business and your employees.

One way to achieve this balance is by involving your employees in the scheduling process. After all, they are the ones who will be doing the work, so it makes sense to get their input on what kind of schedule would work best for them. For example, you may find that some of your employees prefer to work longer hours on fewer days, while others may prefer shorter shifts spread out over more days.

Allowing your employees to have a say in their schedule can also help boost morale and increase productivity. When employees feel like they are being listened to and their needs are being considered, they are more likely to be engaged with their work. This can lead to better quality work and higher levels of productivity overall.

Improving Communication for a More Productive Workforce

Communication is key to maintaining productivity levels and ensuring that everyone is on the same page in any workplace. When it comes to scheduling, this is especially important to avoid any misunderstandings or conflicts. There are a few simple steps you can take to improve communication around scheduling:

  • Make sure everyone has access to the schedule in a format that works. Some people prefer paper copies, while others might prefer digital versions.
  • Schedule regular check-ins with employees to discuss their availability and any changes they might need to make to the schedule.
  • Keep open lines of communication so that employees feel comfortable voicing any concerns or issues they have with the schedule.

In conclusion, scheduling can significantly impact productivity levels in the workplace. By creating more stable schedules and involving employees in the process, you can help to boost morale and increase productivity. Improving communication around scheduling can also help avoid any misunderstandings or conflicts that could arise. By taking these steps, you can create a more productive workforce overall.

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Are You Ready To Be An Entrepreneur?


Are You Ready To Be An Entrepreneur?

There is nothing easy about quitting a job, but when it’s a job you hate, you need an angle to work on once you’re done with the job. Knowing that you have business ideas and wishes will help you to decide whether you are ready to own your own business, but are you really ready to go into business yourself? Walking away from a career you’ll love is hard, but starting a career in a business you want to be in will really make a difference.

Owning your destiny requires you to have a range of skills to help you to understand how to make your way in an entrepreneurial world. It should be fuelled by passion and excitement, but if you don’t have the right skills you might find it hard. You can learn all that you need to know with the help of AnthonyTedd.com, and we have an infographic to explain it at the end of this!

When you grow in your career, you carry over your skills that you learned and you can enhance them and work on them more in the future. You need to be ready to be in charge of your own business, and that means working with experts to help you to know whether it’s the right move for you. There will be a lot of weighing out pros and cons, and below, we’ve put together an infographic detailing the skills you need to be in charge of a business and run it well.


Infographic Design By AnthonyTedd.com

What You Need To Think About When Planning For The Future


What You Need To Think About When Planning For The Future

Many of us have been wondering about the future as a result of the COVID-19 pandemic and what it could store for us. With an incredible number of fatalities caused by the sickness, it has made people realise that they are not indestructible or immortal and that at some time, we will need to make arrangements for what will happen to our loved ones when we are gone, as well as what we will leave behind for them.

Here we will look at some of the things that you might want to consider for the foreseeable future.

Create a will.

Writing your final will and testament is something you should consider doing so that your loved ones and the legal authorities are aware of your wishes on what should happen when you pass away and who should receive what.

A will is a legal document that specifies what will happen to any property or assets that you hold when you die, as well as who will be in charge of your children if guardianship is required, and who will carry out your intentions after you die. When it comes to estate planning, a simple will is all that is required unless you have a lot of property and assets. However, it is still vital to get good legal guidance from someone like Norton Peskett Solicitors. They will be familiar with all of the ins and outs, as well as the most recent recommendations and rules. A lot of avoidable heartache for your loved ones can be avoided if you take this step now.

Discuss your funeral wishes with a friend or family member.

It has a horrible ring to it, do not you think? While talking with your family about your funeral intentions is vital, it is even more crucial to do so before the time comes when they must make those decisions for themselves. Is it more important to you to be buried or cremated? Want your ashes to be dispersed over the world or buried in a specific location? Let us know your preferences. Even selecting the music that will be played at their burial and selecting their coffins are things that some individuals do for their loved ones. You may also want to consider putting up a pre-payment plan so that you may pay for everything before you pass away, so alleviating one source of worry for your family when the time comes to pay for everything.

Discuss what will happen if you become incapacitated or unable to make decisions for yourself in the future.

According to current estimates, one in every 14 persons over the age of 65 and one in every six people over the age of 80 will suffer from dementia. Unfortunately, this horrible disease, as well as many other disorders, has the potential to take away your capacity to make decisions about your treatment and financial well-being. Identify what you want to happen if things become this bad. For example, who will take over and make choices on your behalf if things go bad enough? You will need a living will, a power of attorney, and a medical power of attorney to do this.

Thinking about the future might be a little frightening, especially when we contemplate the idea that we will not be around indefinitely to witness it. Although we can not avoid it, we can reduce the amount of stress we put on ourselves, our families, and loved ones by thinking about it, talking about it, and making plans for it ahead of time.

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3 Common But Damaging Business Mistakes


3 Common But Damaging Business Mistakes

In this blog post, we are going to talk about business mistakes! No, you’re not getting told off for your wrongdoings – we’re simply going to look at some of the common business blunders so that we can then put them right.

EQUIPMENT MISTAKES

It does not matter whether you are buying new computers for everyone in the office or you need a push button switch for your business, quality is always the most important factor. This is not where you should be cutting corners at your company. Now would be an excellent time to assess your relationships with suppliers to determine if improvements can be made.

Another example of where businesses are going wrong when it comes to their equipment is with maintenance. You need to have a dedicated maintenance schedule and you need to stick to it. If you don’t, not only can it end up costing you money, but you could find yourself on the wrong end of a personal injury claim.

LEAFLET DISTRIBUTION MISTAKES

There are many benefits associated with leaflet distribution, from increased recognition to enhancing customer loyalty. However, you will only reap these rewards if your campaign is effective. There are lots of various factors that need to be taken into consideration, from the design of the leaflet to where you are going to distribute them. It only takes one error for your marketing campaign to fall flat.

One mistake a lot of companies make when it comes to leaflet distribution is ineffective audience targeting. One of the great benefits of print marketing is the fact that it gives you the opportunity to target your campaign, however, you need to make sure you are targeting your campaign in the right direction. This does not simply relate to where you physically drop off the leaflets, but it also relates to the design of the leaflet too. Does it resonate with your target audience? If not, your response rates will not be as high as you had hoped.

BUSINESS NAME MISTAKES

A great name is essential, but many business owners get it wrong. To start with, it’s your business name so don’t ask everyone you know to come up with something. When it comes to small business advice, your loved ones may not be experts. In the end, even if you don’t like any of the names, you may feel as though you have to pick one and that can lead to bad feeling from the people you didn’t choose. A better way to do it is to ask just a very small number of people who are key to the business itself. If there is no one but you, you will need to decide for yourself.

The name of your business needs to say something about what it does, but the fad for joining two words together and coming up with a new one is over, so try to avoid that method. One essential aspect of knowing how to be successful in business is to be up to date with what’s happening in the business world. Using an old fashioned way of coming up with a name will prove you aren’t. Despite that, you shouldn’t use common, everyday words either; you don’t want to get lost in a list of businesses. You want to stand out.

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Easy Ways To Upgrade Your Home Office


Easy Ways To Upgrade Your Home Office

When you work remotely, your home office can have a huge impact on your potential for success. Failing to create the most functional, productive and well-equipped office space can cause you to maintain lower standards while losing time and likely encountering issues along the way, so it’s vital that you can take the time to upgrade your home office if you want to stand a chance of thriving. Fortunately, learning how to revamp and maximise your home office doesn’t have to be as difficult as you might expect, as there are simple steps that you can follow to create the perfect space in no time at all. Read on to find out more!

Choose A Suitable Colour Scheme

First and foremost, you’re going to need to settle on a suitable colour scheme that promotes focus and concentration. You might be surprised to find out that colours can have an enormous impact on the way that you feel and subsequently act, as certain shades can distract you and slow you down (like red or black) whereas others can inspire balance and motivation (like blue, yellow or green). Of course you don’t need to go overboard and paint your entire home office blue, yellow or green, just use small accents to set the tone and ensure the right shades are present in the room.

Get The Best PC Setup

Your PC is likely one of the most important features of your home office set up, so you simply can’t afford to make the mistake of attempting to use an outdated and underperforming model that doesn’t meet your needs. With each year that passes new models and accessories pop up onto the market, each boasting more advanced features than the one before. If you’re trying to use a PC or any accessories from as little as 4-5 years ago, then you could be holding yourself back quite dramatically without even really knowing. Even your keycaps can benefit from an upgrade every now and then, so you need to take the time to establish the best tech setup to get the most out of your home office.

Invest In A Comfy Chair

If your home office chair is uncomfortable and causes you to feel all manner of aches and pains after a day at work, then this can have a serious impact on your attitude towards your job as a whole. Eventually you’ll begin to dread the thought of having to sit in such a place all day, and you’ll no doubt be distracted by the aches and pains that you experience. Making the decision to invest in a comfy chair can transform your home office space into a welcoming, inviting room that you can actually enjoy spending time in, making your shift feel that little bit less daunting.

Learning how to easily upgrade your home office space has never been such a simple task when you can take the time to utilise some of the creative ideas detailed above!

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The Benefits of VoIP


The Benefits of VoIP

When you are considering new technology, hardware, or software into your business – you need to know that the benefits will always outweigh the cost.

Voice over IP, or VoIP, allows anyone to place a call over the internet. This can revolutionise how small businesses are able to communicate with clients – and it is great for internal communication too.

So what are the real advantages of VoIP, and why should you consider it?

Cost

Traditional telephone systems can be expensive, whereas VoIP is inherently more cost-effective.

Rather than needing a telephone connection and hardware – all you need is an internet connection and VoIP engineers.

It is one of the most cost-effective ways to offer clients multiple ways to communicate without the commitment to a telephone line contract.

Flexibility

There are multiple ways that a VoIP system is flexible and great for business. The first is that a VoIP system can be built to meet the requirements of your business. While one of the limits is bandwidth, you can discuss your capabilities with your provider to get the right solution.

The other way that VoIP systems are flexible is that as your business grows, you can add extra users and lines to accommodate your needs.

The scalability of VoIP is a benefit. Since VoIP phone systems make calls via the internet, adding more customers is simple.

You don’t have to set up additional lines; instead, you add phones and licences as needed. VoIP has the advantage of being scalable to meet your present and future needs.

Portability

Anywhere you go, your system can go with you. In the modern working environment, remote working is becoming more common. A VoIP system means that you can keep your mobile number private while still taking calls from your clients when you need to.

If you want to travel a lot, then a VoIP system makes the most sense for your business communication needs.

ISDN

In an increasingly digital world, the call quality has increased to the point that the PSTN and ISDN services are no longer meeting requirements. They do not offer the quality or volume that is needed.

Implementing VoIP is one of the ways that you can future-proof your business and not get stuck looking for alternatives when the ‘switch off’ does happen.

Any business that isn’t already using VoIP will be impacted by this change.

Conferencing

If your business is already at the stage where conferencing calls are a common occurrence, then VoIP systems make these easier to manage. Many of the features you need for conference calls are native to VoIP systems, so you won’t end up paying extra for these services.

Although it is always worth checking if your package has conference capabilities – and if they will cost extra.

Additional features

It’s not just the call and video capabilities that VoIP offers. There are a plethora of additional features like contact lists, voice to text mail to multiple parties, voicemail, virtual numbers, and more.

VoIP systems offer an effective way to improve how you manage your business communications and can support you as you grow.

Communication with clients might be one of the things you are considering as you prepare to switch your side hustle into a fully-fledged business. Here are some other considerations: Turning a Side Hustle Into a Business – Parents in Biz.

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