When you first establish your business, you’re likely to take whatever commercial property you can get your hands on. After all, professional spaces don’t come cheap and startups don’t tend to have all too much money to invest. However, as your business takes off, you’re going to want to improve the commercial space you operate in, making it more professional all-round. This will help to establish yourself as a serious presence in the field, both to your employees and anyone else who may engage with your business at some point or another. So, here are a few simple steps that you can take in order to achieve this!
Switch Up Locations
If you started up in an obscure or out of the way location, you may want to move. There are various benefits that come hand in hand with having your office in a central location. More central locations tend to have a higher passing footfall. This results in more people being exposed to your brand, more people passing through your doors, and more profit as a result. However, one of the main benefits of placing yourself in a central setting is that you establish yourself as a serious competitor. You place yourself amongst the best in your field and will be recognized as a significant force!
Establish Your Own Office
When you run a small business, you need to be respected as an authoritative figure amongst your staff. You also need to have your own space to hold private or confidential phone conversations or work without interruption. You can achieve both of these goals by establishing your own office. Having your own, private office separates you from your staff members. While it is still important to engage and connect with staff, it allows you to maintain a professional distance and sense of authority. It also offers you privacy when conducting deals and results in fewer interruptions. Studies have shown that individuals working in their own office experience 29% fewer interruptions than individuals working in open office spaces or cubicles, as people are less willing to interrupt when you have clearly separated yourself from a crowd. You can make all of this particularly official by investing in engraved plaques for your office door with your name and position detailed.
Have a Meeting Room
Meeting rooms are ideal for professional businesses. It gives you a space away from the standard working environment where you can detach everyone from the tasks and distractions that they engage with throughout the rest of the working day. When employees are called to an official meeting in an official meeting space, they are much more likely to take heed of what you are saying than if you approach them casually at their desk. After all, having an official space gives everything more sense of gravity. You can also invite potential partners, clients, or collaborators into this professional space for presentations and discussions, or hold interviews for new staff in here too!
These are just a few steps that you can take to make your business appear as professional as possible through its commercial property. So, put them into action today!
It takes a lot to build a successful business. Some companies struggle to reach the top for years. Some struggle to simply stay afloat for years. But there are definitely universal strategies for success in any industry. If you want more from your business then it might be time for a focused approach. In this article, we’re going to discuss three big factors that determine the success of any business. Following this advice could make a positive difference to your company.
Your level of professionalism.
The first factor that determines the success of your business is your level of professionalism, as we’ve mentioned before. A business’ brand image is its primary selling point, and consumers are looking for companies that project a polished image. If you want to increase your likelihood of winning over potential customers then you need to convince them to take you seriously. Small things can make a big difference. For example, your business website needs to be designed by professionals (hire a team to help you out if you need it). No matter how good your products or services, visitors will be deterred by a website that looks amateurish. You need to make good first impressions in the business world. You should also present a professional image to your workforce to keep them sharp. As mentioned over at https://www.thebalancesmb.com/, powerful business presentations can massively improve your success rate.
Your business plan.
Another factor that determines the success of your business is its plan. You need to return to it on a regular basis to ensure that your company is moving in the right direction. In terms of your finances, this is very important. You need to take a look at your expenditures to see whether you’re spending your money in the right way. Investments are crucial to your company’s growth, so you need to minimize unnecessary costs and optimize spending in core areas that need development.
Of course, organizing your money is important, but you also need to be earning money. That’s why a constantly evolving sales plan plays a huge part in the success of a business. You might want to check out www.bpmonline.com/crm/sales-pipeline for help with developing a sales pipeline to visualize your company’s sales. This can help you track your profits to see whether you’re meeting company objectives. Essentially, planning your business is a core factor in its chance of success. You need to revisit the plan frequently to ensure your company remains modern and relevant in a changing marketplace.
Your client relationships.
The third factor that determines the success of your business is your relationship with clients. A good reputation is necessary for long-term success, so you need to give your customers a reason to praise you. Treating them well is the goal here. You could email discount codes to customers as an incentive for them to return to your business. That’s how you build a permanent client base. And, as suggested at https://smallbusiness.chron.com/, training your employees in customer service is a smart idea too. Your employees are the face of your business, in many ways. That’s why it can help to treat your workforce well. The happier they are, the kinder they’ll be to your customers.
We all need a little help in our lives every now and then. And that is even more so the case when you are an entrepreneur and spend your whole career trying to set up and build businesses. Most entrepreneurs have a lot of responsibility riding on their shoulders, and they also have very packed calendars. As a result, it can be all too easy to get stressed out and let the mounting pressure get to us. For this reason, it’s always necessary to know where you can go to whenever you need help and support. Thankfully, there are plenty of sources of support you can turn to whenever you need help with your workload or just some general business advice. Here are some of the best.
Use Your Network
Possibly the best place to go when you need support has to be your professional network. You will no doubt know a lot of fellow entrepreneurs and business professionals who will all have a different set of skills and experience to you. That means that they might be able to help you out when you find yourself in an uncommon situation – it could be very common for them and they might know exactly what you need to do! If you don’t have such a large network right now, it could be really useful to spend some time meeting new people and expanding it.
Hire Niche Support Contractors
If you don’t already hire a few contractors who can help you out in various situations, then it’s time to start looking for some. One such firm you might want to use as a contractor is one that offers managed IT services for businesses so that you don’t have to worry about a disruption to your operations if you ever experience tech or IT problems. It’s also a good idea to find a freelance accountant who can take care of all your accounting and bookkeeping. That way, you don’t have to worry about any errors cropping up in your accounts.
Lean On Your Managers
Your managers will be highly experienced and also very knowledgeable. After all, that’s why you would have hired them in the first place, right!? Well, these are some other great people who you can turn to for support. In fact, you might want to go to them before you go to anyone else as they will know your company inside out and might have some of their own ideas of how things can improve.
Find A Mentor
It’s also a good idea to find a mentor. This should be someone who is a fellow entrepreneur in the same industry or sector as you, and who has a few more years of experience in business than you do. They will be someone who you can turn to whenever you need any questions answered or just need some advice from someone who knows what you will be going through.
Hopefully, all of these sources of support will help you take your business even further!
Running a business is, honestly, not too hard once you’re set up. It’s all about maintaining order, pitching new ideas and occasionally trying something out of your comfort zone that can help improve your company.
That’s really the only secret to running a thriving business. You need to be consistent, you need to balance everything and you need to occasionally take a risk if you want to grow. However, one aspect of business that few entrepreneurs put an emphasis on is communication.
In this article, we’ll be discussing what it means to focus on better communication, how businesses can benefit from it, and also give you some practical advice to try for your own company.
What is “better” communication?
Most businesses suffer from a lack of communication. This means that they’re often slow to respond to customer feedback, it takes them a long time to adapt to trends, and it can also mean that they suffer because they can’t keep up with other companies. A lack of communication can also make inter-business discussions difficult, meaning that good ideas can be pushed aside for trivial issues if the workflow isn’t optimized.
Better communication refers to optimizing these processes. This can be achieved by using a unified communications platform and it can also help to teach your employees how to communicate ideas more effectively throughout the business. It’s both a technological and workflow issue that can, thankfully, easily be solved.
Benefiting from better communication
One of the biggest benefits of improving your communication is being able to listen to customer feedback. It means being able to take their ideas on board, their criticism and even their complaints so that you can refine your product and services to fit their needs.
Improving communications within the business also gives you some enticing benefits. For instance, making communications within your company smoother and more streamlined means that ideas can be transferred quickly, optimizations can be implemented faster and you’ll learn to adapt as a team. This means ideas are more likely to grow and your staff can be better informed about decisions in the workplace, ultimately leading to more transparency.
Practical ideas to improve communication
Here are some practical ideas to help you improve communications in your business.
- Set up social media accounts and assign someone to be a dedicated community manager that relays the thoughts and concerns of your audience.
- Respond to your audience on social media, reply to emails and listen to their criticism and complaints instead of ignoring it (or blindly following it!).
- Hold regular, but short, meetings to relay ideas, goals and progress towards goals.
- Make information more accessible. Focus on improving transparency instead of withholding information that can affect your employees.
- Strengthen your networks by being more social. You don’t need to attend parties and meetings every day, but it helps to attend trade shows and accept interview requests from media outlets.
As you can see, communication plays an incredibly important part in your business and it’s crucial that you focus on it as one of the pillars of your company.
At Eidi Properties, we work hard to make a difference within our community. Primarily, this is done through the development of commercial properties that create jobs, provide services, grow our economy and expand opportunity. We also extend ourselves into the arena of philanthropy. With our philanthropic efforts we try to mirror our business efforts, but shy away from publicity, because we believe the work is important, not the recognition.
Recently, however, we felt inspired to contribute to our community in a direct way through an organization committed to community development. We broke from our normal practice of giving in silence, because publicizing these efforts is worthwhile, due to the potential that the publicity will spur additional contributions and improve communal pride. Therefore we are proud to share publicly our recent 1.5 million dollar contribution to ProMedica’s Ebeid Neighborhood Promise.
We feel strongly that the Ebeid Neighborhood Promise is an effective way to support our community by revitalizing neighborhoods and developing the community — not by giving handouts. These efforts are programs, which symbiotically revitalize the community in a mutually beneficial cycle with business that cultivates an environment where business reinvests in the community and on and on it goes.
The Ebeid Neighborhood Promise has raised nearly fifty million dollars to promote opportunities and cultivate an environment of success and prosperity. Ramy Eidi, founder and CEO of Eidi Properties, stated, “What is important to me is that it reaches families in need, especially children in need that may not have the opportunities, to give them the opportunities to have good lives and better lives,”
This contribution is in alignment with our work in commercial property, due to the fact that it fosters a thriving business community that raises us all. It is important to us that we help create the conditions for success and prosperity. This is in the spirit of teaching a man to fish rather than merely offering him a fish.
Rarely do we come across organizations which so effectively put their money to good use and create a multiplier effect. This contribution is like an investment, where the money grows and the dividend is lives benefiting. Due to these factors, we are not merely proud to donate, we are proud to publicly broadcast our support. We hope you will too.
Want to start trading internationally? Taking on foreign clients can be a great way to boost business but you do need to be aware of some of the differences from standard trade. Here are just five things to take into account when conducting business abroad.
Consider the time difference
Foreign countries are likely to be in a different time zone. Bear this in mind when organizing meetings or emailing clients – they could be fast asleep during your normal work hours. Working around this time difference may require being a bit more flexible and not sticking to the 9 til 5 routine. Alternatively, you may be able to hire employees or outsource points of contact to handle matters during these hours.
Speak the same language
It’s going to be very difficult to conduct business if you both don’t understand each other’s language. English may be the de facto language of international business, but you are still likely to encounter certain people in certain industries who aren’t fluent. When dealing with clients that don’t speak much English, consider hiring professional translation services. Emails and websites can usually be easily translated using online tools, although there may be times when you want a professional translator to write something up to prevent embarrassing translation errors (we’ve all experienced them!).
Start accepting foreign currency
You’ll also need to start accepting foreign currencies if you want to do business with clients abroad. Look for payment services that will allow you to trade in these currencies. When setting prices, consider fluctuating currency values – you may not want to keep charging the same amount if a currency value drops.
Hire a competent accountant
Once you start dealing in foreign currencies, you may need to upgrade your accountant as not every accountant works with international trade. Tax laws can vary from country to country, which is something a qualified accountant will be able to help you with. It’s generally not worth the headache of doing this yourself.
Understand the cultural differences
It’s important to also understand how the difference in cultural attitudes could affect your business. Different countries will have varying levels of formality – knowing whether to address somewhere as Mr/Mrs or by their first name could be important if you don’t want to offend that person (it’s generally safer to go with the former if you’re unsure). Different countries also have a different approach to punctuality, which can be important when organising meetings or calls for a specific time – many Asian countries like to stick rigidly to times whilst European and Latin American countries may have a more relaxed attitude to what constitutes ‘on time’. Cultural differences will also make a big impact when marketing your product – certain methods in other countries may seem tacky or overly conservative compared to methods we’re used to. Quite often it’s best off to hire a foreign marketing company who know how to promote a product in that country.