This is mainly due to many people being wary of online scam artists who try to get UK sellers to send items (typically expensive electronics such as mobile phones and laptop computers) through the mail and then claim that the parcel never arrived to try and get their money back as well as the item that they have already received.
This is a sad side to the internet and many people have been caught out by these scams but it is now made much safer with new tracking systems that not only show you where your parcel is at any point during the delivery process but it also allows you to get electronic proof of delivery which will be the signature scanned into the courier's system that gives you the proof you need that the parcel was in fact delivered on time and to the right place.
It is via these couriers that you are best protected against malicious claims that your parcel hasn't arrived and considering some of the more expensive items that get targeted then this service is a great choice for people who stand to lose a lot of money if the parcel is lost or is scammed in this way.
The decision to use a courier is also preferred by some small businesses as they are no longer made with larger business customers in mind, in fact their prices are now low enough to compare along line with the regular postal options. The best choice for people sending parcels internationally has always been using a dedicated parcel courier but now the prices are more accessible to regular customers it now means that sending parcels to family members such as gifts or home comforts.
These companies have their own delivery network of distribution centres and delivery vehicles all over the globe and so your parcel will arrive quickly and with greater care and allowance for larger or irregularly shaped objects they can be the perfect choice for people looking to ship items such as large musical instruments and heavy items. Couriers have become more accessible to those that may have had worries about sending a parcel internationally but now you can get a reliable service you can trust for attractive prices.
Monday, May 31, 2010
How to Choose the Right Business Broker
Not all brokers are created equal - there are some experts who represent their field with professionalism and many others who are less than competent. It is important to get to know your broker and his/her experience, communication style and strengths. In short, you and your broker should 'fit' as a team working toward the goal of selling your business at acceptable price and terms.
Here are some steps you can take to make sure you are working with someone that will guide you through the process of selling your business:
1. Check the broker's experience and ask specific questions about theit last few successful transactions. Does the broker tend to work with the buyer or seller? What went right and what went wrong during their last similar-sized transaction? Can you talk to his/her last business owner customer as a reference? How long has your broker been selling businesses in the local area on a full-time basis? And don't just look at the name of the brokerage company - many larger firms are successful based on the work of just a few agents. The rest of the agents tend to wash through an organization in less than a year.
2. Check the broker's website and marketing collateral. How are their brochure and website? If the broker does not have a website, they are far behind the times. The internet has become the broker's primary method of finding prospective buyers for your business. Is the site well written, attractive and easy to navigate or is a 'do-it-yourself' job? If a brokerage hasn't invested in a decent website and professional brochures, they will not invest their own ongoing education or the advertising necessary to attract a buyer for your company.
3. Ask about the broker's membership in professional business sales organizations and his/her state licenses as needed to market businesses for sale. A membership an appropriate local or national professional association means the broker was committed enough to this profession that he/she spent the time and money to maintain his membership. Having a real estate license is required in many states for business brokerage, and although important legally, it does not mean the broker's focus is the sale of businesses. Do your homework to be sure the broker specializes in business sales and not residential or commercial real estate.
4. Agree on the listing price before you sign the marketing agreement. Your broker should be able to explain the most customary valuation techniques for your industry and have data on comparative sales for your review. A good broker will give you an opinion of value before asking for a marketing agreement.
5. Don't fall for the 'broker tricks of the trade'. If a broker tells you he/she has a buyer for your business without first really getting to know your firm, be wary. If a broker tells you he/she can get your asking price or more on after a brief meeting, be skeptical. And if a broker requires any upfront payment, be afraid.
Here are some steps you can take to make sure you are working with someone that will guide you through the process of selling your business:
1. Check the broker's experience and ask specific questions about theit last few successful transactions. Does the broker tend to work with the buyer or seller? What went right and what went wrong during their last similar-sized transaction? Can you talk to his/her last business owner customer as a reference? How long has your broker been selling businesses in the local area on a full-time basis? And don't just look at the name of the brokerage company - many larger firms are successful based on the work of just a few agents. The rest of the agents tend to wash through an organization in less than a year.
2. Check the broker's website and marketing collateral. How are their brochure and website? If the broker does not have a website, they are far behind the times. The internet has become the broker's primary method of finding prospective buyers for your business. Is the site well written, attractive and easy to navigate or is a 'do-it-yourself' job? If a brokerage hasn't invested in a decent website and professional brochures, they will not invest their own ongoing education or the advertising necessary to attract a buyer for your company.
3. Ask about the broker's membership in professional business sales organizations and his/her state licenses as needed to market businesses for sale. A membership an appropriate local or national professional association means the broker was committed enough to this profession that he/she spent the time and money to maintain his membership. Having a real estate license is required in many states for business brokerage, and although important legally, it does not mean the broker's focus is the sale of businesses. Do your homework to be sure the broker specializes in business sales and not residential or commercial real estate.
4. Agree on the listing price before you sign the marketing agreement. Your broker should be able to explain the most customary valuation techniques for your industry and have data on comparative sales for your review. A good broker will give you an opinion of value before asking for a marketing agreement.
5. Don't fall for the 'broker tricks of the trade'. If a broker tells you he/she has a buyer for your business without first really getting to know your firm, be wary. If a broker tells you he/she can get your asking price or more on after a brief meeting, be skeptical. And if a broker requires any upfront payment, be afraid.
2 Interesting Businesses Gaining Momentum Fast!
An interesting business to get into these days is the logistics and self storage business. If you have the available cash or access to cash, this business can be profitable as a long term business. The secret to it is in the negotiation of the proposed warehouse space. Better if you own the property used for self storage but if not, you can find great deals in the inner cities of former warehouses that have been abandoned or taken over by the city. Negotiating on long term leases with a minimum of ten years will get you better rates on a per square meter or yard. The next thing you would want to do is to subdivide the area into self storage bins. It is entirely up to you on how much space you would want to give per cubicle. Using roll up garage doors as the doors for each cubicle is economically feasible. And depending on the height of the warehouse, you can even create duplex storage space for it, or convert it into workable office space for companies that do not need prime location to house their operations.
These days, event management logistics is slowly gaining ground as the in job to have for fresh graduates. Hosting an event for a corporation to move its brand can be fun and exciting but it also entails a great amount of work and meticulous planning. A normal launch event for a brand would require at the very least 4 months of advance planning. Once the appointment is made for you to do the project based on a proposal which you may have done or you are to apply, the budgets are made and an intense planning session is done. Final approval is of course from the client.
The idea of promoting such event using multi- media applications may be cost effective if most of it is done through the internet. These days, it is the internet that serves as a springboard for events to be released and promoted. There have even been some event promoters who started out as bloggers in their own website and slowly have built up a fan base which supports the projects of the blogger. Money is made through a set fee and perhaps a percentage from sales from the bar or restaurant the event was held. There are also other ways in which event management does make money and it is up to the creativity of the team on how they can make money of such an event.
These days, event management logistics is slowly gaining ground as the in job to have for fresh graduates. Hosting an event for a corporation to move its brand can be fun and exciting but it also entails a great amount of work and meticulous planning. A normal launch event for a brand would require at the very least 4 months of advance planning. Once the appointment is made for you to do the project based on a proposal which you may have done or you are to apply, the budgets are made and an intense planning session is done. Final approval is of course from the client.
The idea of promoting such event using multi- media applications may be cost effective if most of it is done through the internet. These days, it is the internet that serves as a springboard for events to be released and promoted. There have even been some event promoters who started out as bloggers in their own website and slowly have built up a fan base which supports the projects of the blogger. Money is made through a set fee and perhaps a percentage from sales from the bar or restaurant the event was held. There are also other ways in which event management does make money and it is up to the creativity of the team on how they can make money of such an event.
Choosing the Right Jurisdiction
In today's global economy, an increasing number of companies are setting up offshore operations. Today, a sizable number of MNCs and small to medium sized companies are based offshore. Likewise, numerous self-employed consultants hold offshore companies and offer their services to clients across the world. There are several reasons behind why businesses are choosing to incorporate offshore companies such as low taxes, ease of company formation and ongoing compliance, transparent and efficient legal system, and access to world-class financial institutes.
A number of factors need to be considered and deliberated upon while setting up an offshore business. In order to choose the right business jurisdiction, critical elements such as the business environment, costs involved, ease of company formation, ease of ongoing compliance, bureaucracy levels, and tax regime need to be taken into account.
Ease of company formation, minimal statutory compliance, and low bureaucracy levels
Incorporating an offshore entity holds many benefits for a company; easier business administration being one of the key advantages. Businesses that are constrained by the convoluted legislation, red tape and compliance-related hurdles in their own countries often choose to incorporate an offshore company. Tax rates, regulatory requirements, and economic incentives differ greatly from country to country. Choosing the right jurisdiction for incorporating a business should therefore be done keeping these considerations in mind. Business incorporation takes very little time these days and the administrative tangles are minimal with most of them being handled by a company agent. All you need to do is make use of the company incorporation services offered by a consultancy that specializes in the field.
Conducive business environment
The general business climate should be pro-business and pro-talent and this is usually reflected in a country's immigration policies, regulatory environment, and the openness of its people. It is important to choose a jurisdiction that not only ensures the availability of excellent infrastructure but also enforces policies and laws that promote entrepreneurship and commerce.
Higher profitability
Offshore business incorporation can be highly profitable as a wide-variety of shares, bonds, commodities and other financial instruments can be held and managed through a single offshore company. Moreover, investments made through an offshore company are generally exempted from tax on the income from the investments.
Low taxes
Many leading jurisdictions that cater to global investors offer low tax rates and minimum reporting requirements. This means that the company benefits not only from low corporate tax, but also from lesser compliance and other regulatory costs. Moreover, many such countries offer no inheritance tax or capital gains tax.
A number of factors need to be considered and deliberated upon while setting up an offshore business. In order to choose the right business jurisdiction, critical elements such as the business environment, costs involved, ease of company formation, ease of ongoing compliance, bureaucracy levels, and tax regime need to be taken into account.
Ease of company formation, minimal statutory compliance, and low bureaucracy levels
Incorporating an offshore entity holds many benefits for a company; easier business administration being one of the key advantages. Businesses that are constrained by the convoluted legislation, red tape and compliance-related hurdles in their own countries often choose to incorporate an offshore company. Tax rates, regulatory requirements, and economic incentives differ greatly from country to country. Choosing the right jurisdiction for incorporating a business should therefore be done keeping these considerations in mind. Business incorporation takes very little time these days and the administrative tangles are minimal with most of them being handled by a company agent. All you need to do is make use of the company incorporation services offered by a consultancy that specializes in the field.
Conducive business environment
The general business climate should be pro-business and pro-talent and this is usually reflected in a country's immigration policies, regulatory environment, and the openness of its people. It is important to choose a jurisdiction that not only ensures the availability of excellent infrastructure but also enforces policies and laws that promote entrepreneurship and commerce.
Higher profitability
Offshore business incorporation can be highly profitable as a wide-variety of shares, bonds, commodities and other financial instruments can be held and managed through a single offshore company. Moreover, investments made through an offshore company are generally exempted from tax on the income from the investments.
Low taxes
Many leading jurisdictions that cater to global investors offer low tax rates and minimum reporting requirements. This means that the company benefits not only from low corporate tax, but also from lesser compliance and other regulatory costs. Moreover, many such countries offer no inheritance tax or capital gains tax.
Ten Daily Habits of Successful Women in Business
I have been mentoring women in business for over twenty years and I've noticed certain patterns of success emerging. Successful women in business have well-defined daily success habits. These habits have unconsciously become part of their daily routine and seem to be a major factor in business success. Here are ten daily habits successful businesswomen seem to share in common:
1. Successful women in business set goals. They have long term, short term and daily goals. They know what they want to achieve, why they want to achieve it and how they're going to make their goals reality.
2. Smart businesswomen have a carefully written plan of action. A goal is just a dream without a written plan. Successful women know what they want to accomplish each day, week, month, year and even five years from now. This plan of action is a well thought out blueprint for the future.
3. Goal achieving begins one small step at a time. Successful women have daily to-do lists. They know how to break their plan of action into bite-sized pieces. These workable bite-sized pieces turn into daily lists of activities that take them closer toward their goals.
4. A common trait among all profitable business owners is that they know how to keep the important things important. Success-oriented women are not easily distracted from achieving their goals. Their daily to-do lists are prioritized, making sure the important moneymaking activities are accomplished first.
5. Visualizing the future as if it were already reality is a powerful success tool. Successful women in business see their future as fulfilling and productive. Profitable entrepreneurs talk about the future with optimism and confidence.
6. Successful women manage time wisely. Women who own moneymaking businesses are in control of their time and don't allow time to control them.
7. Happy entrepreneurs know when to rest, relax and rejuvenate. All work and no play leads to emotional and physical burnout. It's important to take physical and mental health breaks during the workday.
8. You can't enjoy success if you aren't healthy in mind, body and spirit. Successful women know it is important to eat healthy. A bag of chips and a soda is not a power lunch! Meditating, visualizing and affirming all seem to be part of the successful woman's daily routine.
9. Breathe! Smart businesswomen know what they can change and know how to make peace with what they cannot.
10. Finally, one of the most powerful success habits is to regularly make time to sit back and appreciate your accomplishments. Successful women in business celebrate their victories, both the small and the large ones. Here's success tip: Enjoy your accomplishments because the more you appreciate, acknowledge and enjoy your day-to-day successes, the more successes you'll have to enjoy!
1. Successful women in business set goals. They have long term, short term and daily goals. They know what they want to achieve, why they want to achieve it and how they're going to make their goals reality.
2. Smart businesswomen have a carefully written plan of action. A goal is just a dream without a written plan. Successful women know what they want to accomplish each day, week, month, year and even five years from now. This plan of action is a well thought out blueprint for the future.
3. Goal achieving begins one small step at a time. Successful women have daily to-do lists. They know how to break their plan of action into bite-sized pieces. These workable bite-sized pieces turn into daily lists of activities that take them closer toward their goals.
4. A common trait among all profitable business owners is that they know how to keep the important things important. Success-oriented women are not easily distracted from achieving their goals. Their daily to-do lists are prioritized, making sure the important moneymaking activities are accomplished first.
5. Visualizing the future as if it were already reality is a powerful success tool. Successful women in business see their future as fulfilling and productive. Profitable entrepreneurs talk about the future with optimism and confidence.
6. Successful women manage time wisely. Women who own moneymaking businesses are in control of their time and don't allow time to control them.
7. Happy entrepreneurs know when to rest, relax and rejuvenate. All work and no play leads to emotional and physical burnout. It's important to take physical and mental health breaks during the workday.
8. You can't enjoy success if you aren't healthy in mind, body and spirit. Successful women know it is important to eat healthy. A bag of chips and a soda is not a power lunch! Meditating, visualizing and affirming all seem to be part of the successful woman's daily routine.
9. Breathe! Smart businesswomen know what they can change and know how to make peace with what they cannot.
10. Finally, one of the most powerful success habits is to regularly make time to sit back and appreciate your accomplishments. Successful women in business celebrate their victories, both the small and the large ones. Here's success tip: Enjoy your accomplishments because the more you appreciate, acknowledge and enjoy your day-to-day successes, the more successes you'll have to enjoy!
Is it Time to Sell Your Family Business?
Deciding whether to sell your family business is a once in a life time event. Should you sell the whole or part of the company to outsiders? Are the 2nd or 3rd generation family member's good options? Are the family members up to the task? For instance, the subsequent failure rate of generations two and three is very high (70 and 88%, respectively).
The decision to sell a family business is among the most difficult and important decisions of your career. After a lifetime of hard work, owners wrestle with a range of emotions and questions. Question #1- Is my retirement fully funded?
While considering the decision to sell their business, many owners are currently "kicking themselves" for missing the giddy prices of 3 years ago. However, deal multiples are again rising and private equity and middle market companies have the "dry powder" and want to do deals.
Two mistakes business owners make is that they think they know who the "best" buyer is for their business and that they only negotiate with that one entity. In making these mistakes, entrepreneurs negotiate on their own and inevitably take their eye off the day-to-day business affairs. In the vast majority of cases however, this strategy is doomed to failure. Their belief is usually based on prior conversations or non-solicited expressions of interests.
In the great majority of our transactions involving this type of "early" interest, managing a competitive marketing program has resulted in a sale to a different buyer with a better deal than the initial party. Without competition for your business, buyers will rarely serve up their best proposal and, as a result, the seller's negotiating leverage is minimized. An Exit Strategy professional also enables business owners to stay focused on running the daily operations of the business during the sale process. "Last Minute Surprises" lead to reduced value. It is critical that the owner concentrates on the daily business operations.
Despite this tough business environment, Exit Strategies need implemented and executed for millions of business owners. How will their decisions impact their family and their personal well-being? What will become of long-time employees, customers, suppliers, and other important stakeholders? While the answers to these questions are sometimes conflicting and confusing, one thing is certain: when evaluating whether to sell their family business, entrepreneurs need to develop a proactive and systematic Exit Strategy. In doing so, they will receive maximum, post tax dollars for a lifetime of hard work.
The decision to sell a family business is among the most difficult and important decisions of your career. After a lifetime of hard work, owners wrestle with a range of emotions and questions. Question #1- Is my retirement fully funded?
While considering the decision to sell their business, many owners are currently "kicking themselves" for missing the giddy prices of 3 years ago. However, deal multiples are again rising and private equity and middle market companies have the "dry powder" and want to do deals.
Two mistakes business owners make is that they think they know who the "best" buyer is for their business and that they only negotiate with that one entity. In making these mistakes, entrepreneurs negotiate on their own and inevitably take their eye off the day-to-day business affairs. In the vast majority of cases however, this strategy is doomed to failure. Their belief is usually based on prior conversations or non-solicited expressions of interests.
In the great majority of our transactions involving this type of "early" interest, managing a competitive marketing program has resulted in a sale to a different buyer with a better deal than the initial party. Without competition for your business, buyers will rarely serve up their best proposal and, as a result, the seller's negotiating leverage is minimized. An Exit Strategy professional also enables business owners to stay focused on running the daily operations of the business during the sale process. "Last Minute Surprises" lead to reduced value. It is critical that the owner concentrates on the daily business operations.
Despite this tough business environment, Exit Strategies need implemented and executed for millions of business owners. How will their decisions impact their family and their personal well-being? What will become of long-time employees, customers, suppliers, and other important stakeholders? While the answers to these questions are sometimes conflicting and confusing, one thing is certain: when evaluating whether to sell their family business, entrepreneurs need to develop a proactive and systematic Exit Strategy. In doing so, they will receive maximum, post tax dollars for a lifetime of hard work.
Corporate Politics
Unfortunately for much of the corporate world, the daily grind includes politics within the work group. Regardless of what level the company is on within the corporate world, when workers come together in a hierarchical system there are always those jockeying for position, which always falls to political competition.
In a corporate environment, there are extensive checks and balances to ensure proper work flow, and efficiency. These checks and balances are usually mandatory to the proper function of the company, but can in fact cause problems when the employees enforcing them become motivated by personal gain, as opposed to that of the work group. In most cases corporate politics become an innate property of the companies system of checks and balances. When this happens those in positions of authority are being pressed to retain their position, by those above them. In other words, the president of the company makes sure the vice president knows that if he doesn't perform to a certain standard, his position could be in jeopardy. By doing this, he places a level of pressure on the vice president, which in turn causes the vice president to do what it takes to retain his image of being the correct person for his position. To retain this image, whether or not a worker performs adequately to do so, the worker will often use political means.
A worker motivated by political means will typically take measures to make others look less adequate, such as making them hardly visible in the companies eye, or highlighting their mistakes, and covering up their successes. Unfortunately this behavior will almost certainly trickle down the hierarchy of authority to the lowest level.
As a solution to corporate politics it is best to do one of two things; either take a accordingly aggressive position, or an acceptably passive position. If you intend to surpass your boss you're going to have to outshine him. To do this you will have to be under the same eye that he is. In order to outshine your boss you will have to be more aggressive than he is, and ensure you never show flaw when checked upon, regardless of his glamorizing of your flaws. On the contrary if you have no intention of passing your boss, you should show absolutely no sign of being a competitor. By doing so you will show your boss that he has nothing to worry about, and thus will not pay your interests any more attention than as needed.
In a corporate environment, there are extensive checks and balances to ensure proper work flow, and efficiency. These checks and balances are usually mandatory to the proper function of the company, but can in fact cause problems when the employees enforcing them become motivated by personal gain, as opposed to that of the work group. In most cases corporate politics become an innate property of the companies system of checks and balances. When this happens those in positions of authority are being pressed to retain their position, by those above them. In other words, the president of the company makes sure the vice president knows that if he doesn't perform to a certain standard, his position could be in jeopardy. By doing this, he places a level of pressure on the vice president, which in turn causes the vice president to do what it takes to retain his image of being the correct person for his position. To retain this image, whether or not a worker performs adequately to do so, the worker will often use political means.
A worker motivated by political means will typically take measures to make others look less adequate, such as making them hardly visible in the companies eye, or highlighting their mistakes, and covering up their successes. Unfortunately this behavior will almost certainly trickle down the hierarchy of authority to the lowest level.
As a solution to corporate politics it is best to do one of two things; either take a accordingly aggressive position, or an acceptably passive position. If you intend to surpass your boss you're going to have to outshine him. To do this you will have to be under the same eye that he is. In order to outshine your boss you will have to be more aggressive than he is, and ensure you never show flaw when checked upon, regardless of his glamorizing of your flaws. On the contrary if you have no intention of passing your boss, you should show absolutely no sign of being a competitor. By doing so you will show your boss that he has nothing to worry about, and thus will not pay your interests any more attention than as needed.
The Biggest HR Mistakes to Avoid
Human Resource Departments are an important aspect of any organization. Businesses need to employ knowledgeable HR staff in order to maintain a quality work force. This will ensure your business will avoid common HR mistakes.
The government has implemented several laws to guarantee certain protections for the employee. These laws require strict adherence to the rules governing the act. Companies who fail to understand employment laws are opening themselves up to lawsuits. Your HR department should be knowledgeable regarding the employment laws and be able to provide this information to your employees.
A well defined employee handbook that outlines the policies and procedures of the business is essential to your company's operation. Supplying a handbook to your employees will clear up any misconceptions about the rules the company has implemented. Failure to establish an employee handbook will hamper your ability to enforce these policies in a fair and consistent manner.
In order to operate a functioning business, documentation is a necessity. Failure to document the employment process, interviews, performance appraisals and termination procedures will open your company up to lawsuits including discrimination or wrongful termination. Documenting employee performance problems, violation and complaints will serve as proof in a lawsuit.
Documentation is particularly important when it comes to your employee's wages and benefits. The government requires specific forms to be filled out in regards to your employee's earnings. These forms are for tax purposes and can affect the paycheck of your employees. Failure to issue the appropriate forms can delay your employee's wages. Your HR professional needs to be able to track vacation and sick time for accuracy. There are many forms that will need to be filed with your health insurance provider. Failure to provide these forms can impact your employee's health benefits.
Business owners should conduct an audit of their Human Resources department to ensure that their employee handbook, policies and procedures are up to date. Policies that are outdated should be updated and a new employee handbook should be issued. The HR Department has a direct impact on your employee's life. Failure to file appropriate documents can delay their benefits and wages. Employers who cannot provide consistent pay and benefits will lose quality workers to their competition.
Small businesses that do not have the resources to staff a Human Resources Department should consider contracting with HR companies offer HR and payroll support and will tailor their services to what you need.
The government has implemented several laws to guarantee certain protections for the employee. These laws require strict adherence to the rules governing the act. Companies who fail to understand employment laws are opening themselves up to lawsuits. Your HR department should be knowledgeable regarding the employment laws and be able to provide this information to your employees.
A well defined employee handbook that outlines the policies and procedures of the business is essential to your company's operation. Supplying a handbook to your employees will clear up any misconceptions about the rules the company has implemented. Failure to establish an employee handbook will hamper your ability to enforce these policies in a fair and consistent manner.
In order to operate a functioning business, documentation is a necessity. Failure to document the employment process, interviews, performance appraisals and termination procedures will open your company up to lawsuits including discrimination or wrongful termination. Documenting employee performance problems, violation and complaints will serve as proof in a lawsuit.
Documentation is particularly important when it comes to your employee's wages and benefits. The government requires specific forms to be filled out in regards to your employee's earnings. These forms are for tax purposes and can affect the paycheck of your employees. Failure to issue the appropriate forms can delay your employee's wages. Your HR professional needs to be able to track vacation and sick time for accuracy. There are many forms that will need to be filed with your health insurance provider. Failure to provide these forms can impact your employee's health benefits.
Business owners should conduct an audit of their Human Resources department to ensure that their employee handbook, policies and procedures are up to date. Policies that are outdated should be updated and a new employee handbook should be issued. The HR Department has a direct impact on your employee's life. Failure to file appropriate documents can delay their benefits and wages. Employers who cannot provide consistent pay and benefits will lose quality workers to their competition.
Small businesses that do not have the resources to staff a Human Resources Department should consider contracting with HR companies offer HR and payroll support and will tailor their services to what you need.
Business Forecasting
What is business forecasting all about? The concept is really the same as weather forecasting; you want to know what it's going to be like out there the next few days. Only with business, you don't just want to know about the next few days - you want to know about the next few years, if you can! There are also a lot more factors than most people worry about with weather.
Watching the weather, most people stop after hearing the expected temperature, or maybe just whether or not the sun will be out. The entire point of business forecasting is to take into account a lot of different factors. Not only do you need to factor in the changes in general business and the economy, you'll also need to factor in the kind of business you're running, the kinds of products you're offering, where you're offering them, and what kind of business you've been doing already.
That's a lot to keep track of. When you're trying to predict how a certain product will be received, you can rely on some facts and guess-and-check methods. You can also rely on spreadsheets and other common prediction methods. These can get you some level of success with business forecasting, and some simpler companies may be perfectly content to rely on this kind of prediction. But if you've got a more complex system running, you may want to look into buying some business forecasting software.
But what's the point of forecasting software, if you can just use a spreadsheet? The whole point of forecasting software is to save you the trouble of needing to do all the calculation yourself. Not every businessman is also an accountant or math guru, and if you want to keep track of a lot of different data and functions, you may need some help to get you through it. If you've got a particularly complicated pool of data, forecasting software can help you to sort through it more easily.
Watching the weather, most people stop after hearing the expected temperature, or maybe just whether or not the sun will be out. The entire point of business forecasting is to take into account a lot of different factors. Not only do you need to factor in the changes in general business and the economy, you'll also need to factor in the kind of business you're running, the kinds of products you're offering, where you're offering them, and what kind of business you've been doing already.
That's a lot to keep track of. When you're trying to predict how a certain product will be received, you can rely on some facts and guess-and-check methods. You can also rely on spreadsheets and other common prediction methods. These can get you some level of success with business forecasting, and some simpler companies may be perfectly content to rely on this kind of prediction. But if you've got a more complex system running, you may want to look into buying some business forecasting software.
But what's the point of forecasting software, if you can just use a spreadsheet? The whole point of forecasting software is to save you the trouble of needing to do all the calculation yourself. Not every businessman is also an accountant or math guru, and if you want to keep track of a lot of different data and functions, you may need some help to get you through it. If you've got a particularly complicated pool of data, forecasting software can help you to sort through it more easily.
10 Office Etiquette Tips
In this article, I will show you how we need not take our workplaces for granted. Every workplace has a general feel and expected etiquette. It sometimes does not necessarily need to be documented for your to behave in a certain way. The ambiance communicates the expectations to you. However in some organizations, expectations are clearly laid out in company code of conduct documentation from Human Resources Department. I have documented common guidelines. I have been a victim of most of the issues mentioned hence these are life and business lessons well learned in my time as an employee and as an employer. There are things I used to take for granted when I was employed which tick me off totally when an employee of mine does them. I realize the concept of sowing and reaping. I am simply walking the same road as my employer who put up with my not so pleasant habits back then. I am now wearing the same shoes Anglo American and CompuServe wore many years ago. Get me right, I was not an outright rebel but there are small things which I would do as an employee while taking for granted the employer's expectations. I would compensate my personal missions with high pressurized performance. I achieved the results in the end. One such incident was when I was started my business while still full time at a mining operation 60 miles away from my business. Most of what you see below was violated in that period especially on time and use of company vehicles etc.
Here are a few common etiquette considerations
1. Understand that time is important to organizations - let it not be a habit to be late for work. Rather not be the one who gives excuses daily. It is interesting that there is not a day when you missed your plane because you woke up late. Your habitual lateness for work tends to communicate your value system and how you see your contribution to the organization. Realize that your employer pays for the time your are late. Be fair and earn every cent on your pay cheque. 30 minutes lost daily is about 11 hours a month lost which is about a full day and a half. Complete tasks ahead of time. Attack each day with intentionality, have a written time plan.
2. Email etiquette - Respond to emails as they come - avoid piling emails because daily you will receive more. Even an acknowledgment of receipt is good enough. Do not click Reply All but simply reply so that it goes just to the one who sent not everyone who was copied. Also use BCC (Blind Carbon Copy), if you are sending many people and you don't want their emails to show. This helps reduce spam.
3. Phone manners - Answer your phone after 3 rings max. Any call, business or social should be able to achieve the objective within 3 minutes. If you can not close the sale in 3 minutes you need to sharpen your skills further. Over and above 3 minutes it can be tantamount to phone abuse. Return people's calls when you get messages that people called in your absence. Keep a phone directory. Keep personal calls to a minimum. Phone bills are such a cost in many organizations compared to email communication. Partner with your employer in reducing costs and overheads. Use appropriate communications methods. Use your personal mobile phone for personal communication.
4. Private visitors - All visitors should come after working hours, or during lunch time. It is unfair to the employer for you to engage in social talk during working hours. If it has to happen let it be by appointment and in states of emergency, life threatening situations. Your relatives, friends and church colleagues must know you to respect your work time. Social meetings should be 5 minutes max but not encouraged. Your role is to communicate how you value your work time to all your contacts. They will respect you for being up front with them. It is not for the employer to always remind you.
5. Internet usage - this tool can easily be abused. Research and Development can be done on this ever increasing pool of knowledge. However addictions to socials chats can be attributed to targets missed and profits lost. Make your internet usage very discreet. Internet abuse has led to many people to lose their own jobs. In some countries, they check your activity online by Googling you and checking your profiles to see what kind of person you are. Next time you lose an opportunity to be employed, check if your Facebook profile is not letting you down.
6. Dress Issues - Your job will tell you what kind of clothes to wear. Your can not be the CEO of an Advertising agency and always come to work dressed in overalls. The caliber of people you will meet dictates how presentable you should be. On specific days, most companies do allow casual wear, golf days or Fridays. Do not just start your own uniform where a specific request for a type of uniform is in place.
7. Work with a plan - It is shocking how many people dive into the day with confidence yet with no plan of how the time will be spent. Lack of plan causes them to be very tired at the end of the day but they can not answer this question with enthusiasm "Is the stuff you did today in line with your job expectations and targets?", "What did you do anyway?". Plan your tasks. Schedule appointments. Know when to do personal stuff. As a rule of thumb, you can not sacrifice your work expectations no matter how urgent your own things seem to be. Your work objectives first then once complete you look at other things. A plan will ensure you do the right things at the right time. Link this to point 1. above.
8. Financial Integrity in the workplace - You may not be the financial accountant or cashier but from time to time you have a chance to handle cash that belongs to your employer. Always be above board when it comes to accounting for corporate finances. Most people get tempted to "solve" personal pressing matters with company finances with the hope to "cover" the debt "soon". That temptation can cause your name to be branded badly in no time. what is not yours is not yours. Stop having ideas over other people's money. You can be creative with your earnings. Just because it is a company vehicle filled with company fuel does not warrant unplanned and personal trips to see friends and family. Company spends money to try and increase profit and productivity. Keep personal mission to a minimum. I know a of a gentleman who would use a company vehicle every weekend to drive 300km to his rural home without knowledge of superiors until he had an accident out of town. Consider finances the company will lose on wear and tear, regular servicing etc. Have integrity, seek permission. Allow the boss to say No.
9 Relationships - Business is built by relationships. In any business, employees must have a good working relationship. For avoidance of compromise of work ethics, you need to desist from connecting at intimate level with your boss or subordinate. It is a rule of thumb. Believe me, when you work with someone, you tend to know them better with each day, they may solve a few of your problems but they are not your wife to be or husband to be. It is not "for fun" after all. It actually looks and sounds funny. Be professional enough to say No without feeling guilty. Message to bosses - it is easy to use your financial muscle to abuse the power you have over your subordinates. Your social and intimate relations should be outside the organization. Subordinates - do not be wooed by promises of promotion and salary raises. It is not worth it. Earn your money and promotion the authentic way. It brings job satisfaction more than the fact that you entertain the boss once in a while.
10 Be in a sober state of mind in the workplace - Avoid clogging your mind with personal agendas. Your mind should be focused on what has to be done. Avoid intoxicating substances during working hours. Away with the thought that "I reason and think better when I get one or two beers". That is a lie to justify bad work habits. You have the evening to do what you want, as long as it will not affect your 8-5 performance. You also have weekends to rest, relax your mind and connect socially in your community. When you have a sober mind you are able to respect and honor and prefer others in the workplace.
Here are a few common etiquette considerations
1. Understand that time is important to organizations - let it not be a habit to be late for work. Rather not be the one who gives excuses daily. It is interesting that there is not a day when you missed your plane because you woke up late. Your habitual lateness for work tends to communicate your value system and how you see your contribution to the organization. Realize that your employer pays for the time your are late. Be fair and earn every cent on your pay cheque. 30 minutes lost daily is about 11 hours a month lost which is about a full day and a half. Complete tasks ahead of time. Attack each day with intentionality, have a written time plan.
2. Email etiquette - Respond to emails as they come - avoid piling emails because daily you will receive more. Even an acknowledgment of receipt is good enough. Do not click Reply All but simply reply so that it goes just to the one who sent not everyone who was copied. Also use BCC (Blind Carbon Copy), if you are sending many people and you don't want their emails to show. This helps reduce spam.
3. Phone manners - Answer your phone after 3 rings max. Any call, business or social should be able to achieve the objective within 3 minutes. If you can not close the sale in 3 minutes you need to sharpen your skills further. Over and above 3 minutes it can be tantamount to phone abuse. Return people's calls when you get messages that people called in your absence. Keep a phone directory. Keep personal calls to a minimum. Phone bills are such a cost in many organizations compared to email communication. Partner with your employer in reducing costs and overheads. Use appropriate communications methods. Use your personal mobile phone for personal communication.
4. Private visitors - All visitors should come after working hours, or during lunch time. It is unfair to the employer for you to engage in social talk during working hours. If it has to happen let it be by appointment and in states of emergency, life threatening situations. Your relatives, friends and church colleagues must know you to respect your work time. Social meetings should be 5 minutes max but not encouraged. Your role is to communicate how you value your work time to all your contacts. They will respect you for being up front with them. It is not for the employer to always remind you.
5. Internet usage - this tool can easily be abused. Research and Development can be done on this ever increasing pool of knowledge. However addictions to socials chats can be attributed to targets missed and profits lost. Make your internet usage very discreet. Internet abuse has led to many people to lose their own jobs. In some countries, they check your activity online by Googling you and checking your profiles to see what kind of person you are. Next time you lose an opportunity to be employed, check if your Facebook profile is not letting you down.
6. Dress Issues - Your job will tell you what kind of clothes to wear. Your can not be the CEO of an Advertising agency and always come to work dressed in overalls. The caliber of people you will meet dictates how presentable you should be. On specific days, most companies do allow casual wear, golf days or Fridays. Do not just start your own uniform where a specific request for a type of uniform is in place.
7. Work with a plan - It is shocking how many people dive into the day with confidence yet with no plan of how the time will be spent. Lack of plan causes them to be very tired at the end of the day but they can not answer this question with enthusiasm "Is the stuff you did today in line with your job expectations and targets?", "What did you do anyway?". Plan your tasks. Schedule appointments. Know when to do personal stuff. As a rule of thumb, you can not sacrifice your work expectations no matter how urgent your own things seem to be. Your work objectives first then once complete you look at other things. A plan will ensure you do the right things at the right time. Link this to point 1. above.
8. Financial Integrity in the workplace - You may not be the financial accountant or cashier but from time to time you have a chance to handle cash that belongs to your employer. Always be above board when it comes to accounting for corporate finances. Most people get tempted to "solve" personal pressing matters with company finances with the hope to "cover" the debt "soon". That temptation can cause your name to be branded badly in no time. what is not yours is not yours. Stop having ideas over other people's money. You can be creative with your earnings. Just because it is a company vehicle filled with company fuel does not warrant unplanned and personal trips to see friends and family. Company spends money to try and increase profit and productivity. Keep personal mission to a minimum. I know a of a gentleman who would use a company vehicle every weekend to drive 300km to his rural home without knowledge of superiors until he had an accident out of town. Consider finances the company will lose on wear and tear, regular servicing etc. Have integrity, seek permission. Allow the boss to say No.
9 Relationships - Business is built by relationships. In any business, employees must have a good working relationship. For avoidance of compromise of work ethics, you need to desist from connecting at intimate level with your boss or subordinate. It is a rule of thumb. Believe me, when you work with someone, you tend to know them better with each day, they may solve a few of your problems but they are not your wife to be or husband to be. It is not "for fun" after all. It actually looks and sounds funny. Be professional enough to say No without feeling guilty. Message to bosses - it is easy to use your financial muscle to abuse the power you have over your subordinates. Your social and intimate relations should be outside the organization. Subordinates - do not be wooed by promises of promotion and salary raises. It is not worth it. Earn your money and promotion the authentic way. It brings job satisfaction more than the fact that you entertain the boss once in a while.
10 Be in a sober state of mind in the workplace - Avoid clogging your mind with personal agendas. Your mind should be focused on what has to be done. Avoid intoxicating substances during working hours. Away with the thought that "I reason and think better when I get one or two beers". That is a lie to justify bad work habits. You have the evening to do what you want, as long as it will not affect your 8-5 performance. You also have weekends to rest, relax your mind and connect socially in your community. When you have a sober mind you are able to respect and honor and prefer others in the workplace.
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