Insights, Ideas, Results
When it comes to managing your small business efficiently and cost effectively technology solutions can be your best friends. The advances in technology in the last few years have enabled small business owners to reduce cost, become more efficient and improve productivity of employees, in turn allowing them to generate higher sales and profit. In addition, these technological advances have enabled them to compete with their larger bigger counterparts on the same footing.
Here is a startling fact that you may not know – Businesses in U.S. lose approximately $37 billion in salary cost as a result of meetings! This is equivalent of annual revenue of some of the largest companies in the U.S. Imagine the money that companies can save just by avoiding, or at least being effective in, those meetings. Ask any professional about his opinion on the meetings he has to attend as part of his job and more than likely you will hear lots of complaints. According to Atlassian, employees on an average attend 62 meetings per month. Nearly 50% of those meetings are considered waste of time by employees attending those meetings!
Working from home is a great benefit for those who have the ability to do it. You can avoid sitting in the traffic for hours, have a flexible schedule and focus on the work without getting disrupted by co-workers all the time. On the other hand you have to be careful to make sure you focus first on OFFICE and not HOME. To get the most out of working from home there are certain essentials you need to take care of. Below we have listed the Top 10 that will help you get the job done efficiently. While many of these items cost significant money you can save money on many of the office supplies listed below by using Office Depot discount codes at Groupon.
A manufacturing workspace can be dangerous as well as expensive to repair and maintain if it is not taken care of properly. As a small business owner it may be tempting for you to save money by taking few shortcuts and neglect routine repairs and maintenance. However, a penny saved today can turn into a pretty big expense in terms of major repair or maintenance or, even worse, injury on the shop floor resulting in a lawsuit. This is why proper caring for your workspace in the shop floor is very important whether you are in manufacturing business or operate a warehouse. Below are three tips that can help you save money in the long run by taking preventative care today
At its core Business Process Management (BPM), is a systematic approach to making an organisation’s workflow more effective, efficient, and more capable of adapting to an ever-changing environment. As you might imagine, BPM is a wide-ranging subject, and there are a number of different areas you’ll have to focus on in order to create a well-rounded business. Three approaches described below can help small business owners improve their business processes to be able to compete effectively.
Manufacturing industry is immensely competitive, which mandates that you need to stay efficient if you want to stay alive in this business for long-term. With the rise of globalization manufacturing companies are not just dealing with competitors across the town, but with international companies from countries like India and China. These international manufacturing businesses might be operational in countries where labour laws are different. This means that they will be able to make the same product as you at a far cheaper cost. As a result, they can afford to offer it to suppliers at a lower price. The only way to compete with these businesses is to find ways to make your manufacturing firm more efficient and save on costs yourself. Here are 4 tips to help you become efficient.
It’s not easy to get customers but it’s easy to lose them. If you’re a big business, you have the resources to impress them, but if you’re a small business how do you convince customers that you have everything it takes to earn their business? Consumers spend their money where they think they will get the most satisfaction. As a small business, you may not have the marketing budget to develop your brand as a trustworthy business. Ironically, you may be able to provide your customers with better service than a big company. After all, a large company may not have the dedicated expertise to provide each customer with satisfaction. They may not be able to give each customer the attention they need to solve their pressing problem.
For business owners, and particularly small business ones, two of the biggest challenges they have to deal with are employee productivity and business security. Productivity determines how much sales and profit they can get out of their existing resources. While security is a necessity that they cannot live without. Even a single data breach can cost them thousands of dollars in litigation. Unfortunately, many business owns struggle in overcoming both these challenges.
By now, everybody knows the statistics about start-ups. New businesses face long odds of success. However, with the right approach and mindset any startup can beat those odds and go on to become the next Facebook or Google. Technology plays a critical role especially for startups because they do not have large resources available at their disposal. Today’s best apps can reduce your costs, improve your efficiency, and enhance productivity. Here are six essential tech tools for start-ups.
It is not an exaggeration to say that we are living in the age of mobile and the next 5 years are going to be shaped by the advances in mobile technology. When you consider that there are almost as many cell phones (6.8 billion) in the world as there are people (7 billion) it would be foolish for any business owner to not have a strategy that focuses on taking advantage of mobile technology. The startups such as Uber are fully taking advantage of all the functionality cell phone has to offer to provide a seamless user experience and in the process has become one of the most valuable startups in the world worth $50 Billion!
