How to host an effective team meeting

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Every business requires a business meeting. They are important for many reasons such as discussing goals or changes within the workplace. However, many of you may find that meetings don’t always go as planned. For instance, times can be wasted if an employee rambles too much on trivial matters. Especially when meetings are last minute, or not planned, this can result in an unproductive meeting. You may even find yourself conducting a meeting that may very well be unnecessary.

So, it’s highly important that meetings are planned, structured and are always in line with the businesses’ goals at all times. It’s also necessary to eliminate wasted time during the meetings. To help you organise a more productive meeting, we’ve collected the following articles to help you plan ahead.

How do I Conduct Effective Team Meetings?

Many employees feel that meetings are a waste of time. This is largely due to meetings that are not being run effectively in a small business. Before calling a meeting, determine if there is a true need for the meeting. If it can be handled with a quick phone call or email, do not interrupt the work day with an in-person meeting that will take much more time and effort. All managers should strive to preside over effective meetings that are as quick as possible and meet the stated goal.

Begin and end the meeting on time. Meetings are seen by many as time wasters in the organization. By always beginning and ending on time, it is less likely the meeting will be seen in this fashion. When the meeting is called, establish how long the meeting will last and stick to that timeline. This allows all employees to plan their day accordingly and be completely devoted to the meeting during the time of it. Via smallbusiness.chron.com

How to Run Effective Team Meetings

Ah, the much maligned business meeting. There’s no other activity in the history of the American workplace that has inspired both widespread adoption and intense dread. Despite the reputation meetings have earned, there is still hope for rehabilitating them so they can one day serve as important tools for fostering communication and action. Want to get more out of your meetings? Be the change you wish to see in your organization and start implementing the following rules for meeting engagement. Make sure it’s absolutely necessary. There’s nothing worse than arriving to a meeting only to discover that the information could’ve been conveyed via email or a quick in-person chat. If you want to make the most of your meeting–and be respectful of people’s time– don’t book a meeting unless it’s absolutely necessary.

Arrive with an objective. If you don’t know what you want out of a meeting, then you shouldn’t be having one. Whether you’re a maker–a programmer, writer, or another kind of creator–or a manager, meetings cost you time. And that’s in short supply these days. When you send a calendar invitation to the meeting, include a short agenda so individuals arrive prepared with the right information.

Stay focused on the task at hand. According to coach Brian Tracy, meetings should be run with the 80/20 principle in mind. “Organize the agenda so that the top 20% of items are the first items to be discussed,” he advises. If you run out of time for your meeting, you will have already addressed the concerns that account for 80% of the value of the meeting. Be sensitive about timing. If you want meeting participants to stay engaged, don’t book a meeting for first thing on a Monday morning or on a Friday afternoon. Why? Monday morning meetings tend to catch people before they’ve had a chance to sync with their team, and Friday afternoon meetings are when energy is likely at its lowest. If possible, book your meetings on Tuesday or Wednesday afternoon when attention-span–and bandwidth–is at its highest. Via zenefits.com

 

Ways To Increase Your Capacity As A Business

Growth is often a vague term and it may not always be clear what it means for different businesses. You could have any number of different objectives, and consider success with any of these goals as constituting growth. However, physically expanding your capacity is a little different and this is something you may be interested in if you find you are already operating as fast as you can and new business opportunities are being passed up.

There are a few different ways to go about this. Firstly, you might actually be lacking physical space. This is more likely if you are in a manufacturing industry, but you could also need the space for offices or other employees that you don’t currently have yet.

To increase your amount of physical indoor space cost effectively, you might consider different construction methods. For example, a steel building supplier would be able to work with you to create a custom building, with the necessary dimensions and properties to suit your space and intended usage for it. Steel is an ideal material, especially for manufacturers, because it’s strong, efficient and inexpensive. Instead of looking for a new, traditional brick-built premises, consider searching for steel buildings for sale in partially pre-assembled form and having one installed on your site for a faster expansion.

If it’s not so much physical space you need, but rather additional man power, you will need to look at the possibility of hiring additional staff. You might need more employees to support your existing team if they are overwhelmed with the amount of work they have, or alternatively you could benefit from creating entirely new roles and bringing in people with different specialisms to what you currently have. This can allow your business to work more efficiently and take on a greater amount of work, which should lead to better profits too.

Regardless of the approach you take, one thing businesses usually need more of in order to expand is cash. You might find that you have made initial investments in the wrong areas, and you have resources or stock sitting idle while you struggle to keep up with the cash you need on a daily basis. In fact, cash flow is the number one problem for most businesses, even when they’re run by experienced professionals. Selling off assets to increase your liquidity may help you raise the funds to increase your capacity in other ways.

It is worth considering that sometimes the best way to increase the capacity of your business is to wait a little longer. If you are a new start-up, it can be tempting to run before you can walk based on a little initial success. In reality you might be in a better position if you save up those early profits for a few more months and make a more calculated move later on which can increase the size of your business in the best way.

Growing your small business in 2017

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A recent find shows that growing a small business will become easier in the next coming years due to the rapidly advanced improvement of technology and continuous growth of social media. The new technologies will help with reducing the costs and risks of running a small business. As with the social media, small businesses are now able to reach larger audiences online with using fewer expenses in marketing.

So if you are looking to grow your business, the time is now as there are plenty of opportunities that you can take advantage of. Even with the help of technologies and social media, we all know that it will require extra efforts, keeping in mind that there are competitions everywhere. So to help you get started, we’ve collected the following articles with useful tips on how to grow your business this year.

Four Ways to Grow Your Small Business in 2017

Business owners need to stop repeating mistakes that stifle growth. Unfortunately, some business people are actually quite resistant to multiple actions that ensure steady growth. The level of competition will remain fierce in 2017 and here are things that people should do:

1. Define area of expertise: Defining area of expertise is essential, so we don’t over-generalize our focus. This step is also important to focus on specific ability not offered by the competition. Small businesses should work harder to gain distinct advantage on areas which they are best suited. Becoming an expert on specific thing could become an essential factor for growth in 2017. Small businesses shouldn’t become generalists to allow them compete with bigger companies.

2. Expand area of influence in the market. Growth is about expanding our area of influence after the beachhead in the marketplace is fully established. Expanding our market share is easy to do if distributors, sellers and consumer know our products. This is an important growth method that’s recommended by any expert. If done properly, this step should work really well. It’s an effective use of our time and resource to grow our business, in the current marketplace. With expanded influence, it will be much easier to increase market presence. Read more at fxdailyreport.com

How to Grow Your Small Business in 2017?

Every big and small business wishes to grow and expand effectively and create a reputation for the bright success of their business. It is not possible overnight, for accelerating growth you need to invest in a lot of time and effort and you would eventually be rewarded with achieving your goals. Here we are providing you with some tips that would help your small business to achieve your target growth milestones:

Every big and small business wishes to grow and expand effectively and create a reputation for the bright success of their business. It is not possible overnight, for accelerating growth you need to invest in a lot of time and effort and you would eventually be rewarded with achieving your goals. Here we are providing you with some tips that would help your small business to achieve your target growth milestones:

For growth of every business, an effective market research needs to be done so that you can know where your business loop holes are. For example Dove soap, it was initially only into soap marketing and with research they found out that their product is being liked by many, so they came up with Dove shampoo, lotions, creams etc. where they feature the general public for their ads and show how the public is benefited out of their products.

The most intellectual way of growing your small business into a big one, is to properly segment the market and create a new corner of the market. First of all, segment the market for your product, then make a list of your competitors and which target market are they catering and pick up the undeserved areas. A little effort is required, but by doing this you can find out the small corner in the large market where you can deeply focus on and dedicate your full energy in the growth of your business in this corner. Read more at blogher.com

 

Why You Need A Lawyer To Help Grow Your Business

If you’ve made it to the early stages of running your own business without the help of a lawyer, you’re either very experienced in the field of law, or you’re setting yourself up for a major disaster. You might have reached this point without any obvious problems, but all that could be about to change.

There are various options when you’re looking to hire legal professionals these days. A new breed of law firm has been rising in popularity, hiring remote workers to save on overheads and provide a more affordable service than a traditional firm. A consultant lawyer is another role that has become much more popular with business in recent years, with business owners seeking professional advice and guidance to ensure they are going about things the right way. Hiring a consultant lawyer on this basis is most likely a very smart first step for you if you’re just getting started.

Why? Because a good lawyer will help you negotiate the complex maze of the UK legal system, with the objective of avoiding any serious legal issues that could cost you a lot of money. If you’ve already hit a major barrier, or worse, someone is taking legal action against your business, it’s already too late. Hiring a lawyer at this point might help you reduce the amount you’ll end up paying, but in most cases they won’t be able to get you out of your obligation if you’re already made a mistake.

It is worth considering that hiring either freelance lawyers or a more traditional service will be much more effective if you find professionals who specialise in your area of business. Many individuals and firms are now highly specific with the kinds of clients they work for, and will get the best results for those clients. A general lawyer with no particular specialism probably doesn’t have the necessary experience to really help your business avoid common pitfalls and identify new opportunities.

Online business ideas

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In today’s society the internet has made a massive impact on businesses. To compare the old age with the new age, back then you won’t be able to create a business without some finance or building. However, today, the technology and the internet have provided us with an opportunity to build a business without the need of having the basics. Creating a business has never been easier, all you need is a laptop and an internet connection, and you are all set.

So before proceeding with creating your business online, you will need to choose what type of business you want to get into. Luckily we found the following articles that contain business ideas to help you get started.

6 Online Business Ideas you can start with Minimum Investmen

The Internet has so many opportunities to offer. You can also earn online money by working as virtual assistance. There are so many small businesses that do not have the time or resources to handle all of the areas of the business. They often hire people to make sure that the job responsibilities are handled carefully. If you have good marketable skills then you can utilize them and earn money. You can handle several roles such as online marketing, report writing, responding to emails etc.

Starting a blog is one of the best ways to make money online. You can start a blog without spending any money. The blog that you start without any money offers all the essential features that are required to create an effective blog. You can monetize the blog by using the respective ad network. Starting on a free platform will limit the potential of earning money but it is a good way of getting followers. Once you have the good following then you will be able to make the blog profitable. read more at selfgrowth.com

13 simple online business ideas

STARTING an online business requires a lot less risk than investing in an office or store front. You can reach a wide national — sometimes international — customer-base and work from anywhere. With only a basic knowledge of website maintenance and a knack for communication, you can have an online business up and running in days. If you’re ready to take the plunge into becoming an online entrepreneur, we’ve got 13 ideas to help you get off the ground.

2. Social media consultant — Larger firms can hire an agency or full-time staff member to run their Facebook and Twitter accounts, but small businesses often have to take care of their own social media marketing. With so many other responsibilities, business owners may be too busy or overwhelmed to spend time coming up with a great social media strategy. As a consultant, you can help them determine the best tactics, posting schedules and content for their target audience. As their follower count grows, so will your business. read more at news.com.au

 

 

Tips For Relocating Your Business Office

Relocating your business is a complicated process, but in a lot of cases it will be the best solution in the long run. Location can be crucial to success in any business, even if you don’t think it’s that relevant to the product or service you offer, and you’ll do better later on if you make the right decision now.

However, that doesn’t necessarily make the moving process any easier for you in the short term. Hopefully, this list of tips will help with that part of the plan. You will need to be prepared and flexible at every stage if you want to ensure this works effectively and efficiently.

 

1) Think about hiring a professional team to help as soon as possible. Many logistics companies specialise in office relocation and removals, so they can help you plan out your move in advance.

2) Make sure you consider your objective. Why are you moving? What does your business need to get it where it needs to be in a few years’ time? Is your move addressing any current problems? Whether you’re cutting down your fixed costs, expanding your workforce, moving closer to your customers or any other reason, you need to make sure your actions reflect this motivation.

3) Did we mention planning? Just a few times, maybe, because it really is important. You might need to adapt and be flexible, but that’s why you don’t just make one rigid plan. You think about what might happen and prepare for every eventuality. For this task you will need a realistic timeline of when you want to be settled in the new office, what it needs to offer, what it’s going to cost and so on.

 

4) Make sure everyone affected by the move is involved in the process and, where possible everyone is in agreement about all of the points we’ve mentioned so far. People’s responsibilities in terms of helping make the move go as smoothly as possible should always be made clear.

5) Don’t let problems and setbacks delay the entire process too much. If something else comes up early on, you might decide it’s best not to move right now, but when will there ever be a perfect time? You might need to disrupt your own business on purpose for a short time in order to start reaping the benefits faster.

6) Use moving as an opportunity for your business to grow in every sense. Clear out clutter that takes up your work space. Update your equipment to maximise efficiency. Encourage people to work together on the project, build on their relationships and learn to communicate better. In the end, it should all work out for the best as long as you stay focused on your office move.

How To Get To Know Your Competitors

Starting up a business and making a basic plan is only the very beginning of finding success. You still need to get long term finance plans in place, conquer a new market and ensure all the bills are paid before you even think about turning a profit or growing. A short-cut tht can really help, but isn’t easy to achieve, is to fully understand what your current competitors are doing.

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This includes identifying areas where you can learn from their success, and areas where you can improve on their failings. Don’t immediately try to copy the strategies of similar businesses. Firstly, why would you be starting up yourself if that’s your only idea? Secondly, you need to identify who’s going in the right direction and who’s on the verge of driving themselves out of the market, leaving a space for you to occupy. There are a few different approaches you can take here.

Firstly, bear in mind there is plenty of free information online and in other easily available resources where you can find out detailed financial information about many companies. If your rival is a public firm, they’re required to publish details of their financial success, or lack thereof. This may not be easy for a novice to interpret, but you always have the option of hiring specialists to help with this. The problem here is that public information isn’t the most reliable, and there are typically plenty of details that remain undisclosed.

Alternatives may include getting some insider knowledge through another source. Ideally, this could be your own experience. If you’ve worked with or for a competitor in the past, hopefully you’ll have an understanding and insight into how they go about making money. If you’re not directly connected, find someone who is and get as much information as you can from them.

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If you’re really lucky, you may be able to dig up information from the past about their strategy. Look for any features in magazines or newspapers about the company you’re interested in, any old promotional literature you can find, and even old versions of their website which you can access online. Compare how they describe themselves now with the older materials and look for things that have changed with their approach. This can give you a valuable insight.

Be sure not to focus too heavily on a single competitor, unless this is essential for entry into your chosen niche market. Generally you’re more likely to succeed if you look at the market as a whole and consider as many different scenarios as possible, so it’s logical to find varied competitors and learn more about their past strategies if you can. This will help you identify potential problems more quickly and give you a more complete understand of what you’re getting into. The more time and careful planning you can invest into the early stages of entering a market, the better chance you have of outperforming all those competitors as soon as your business finally takes off.

Top Resources For Writing A Great Business Plan

A business plan is an essential starting point for any entrepreneur taking their new venture seriously and hoping to succeed. It might not be easy, especially when you have so much to do, but knowing where to look for inspiration should really help. There are certain resources you can check for practical help and guidance, which should ultimately help you understand where your business is heading and how you’re going to get there. Here are some of the best ideas.

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Read online resources

Looks like you’ve already started on the right path my reading our guide! Many websites collect articles and resources to help people in exactly your position if you’re starting a company and looking for guidance. If you can find a site dedicated to your niche, this will be even better.

business-planCheck government advice

There are plenty of helpful documents and guidelines available online directly from the government. For practical business information and instructions on how to follow policies you can check Companies House, and for assistance with the financial aspects of your plan such as taxes and employing workers we would recommend looking at the HMRC website.

Use the right software

As you may or may not be aware, specialist software exists for writing business plans. These programmes usually off a huge range of useful tools to structure your document properly and ensure you don’t miss anything, plus they allow you to actually use and follow your plan more easily instead of forgetting about it once it’s been drawn up. You’ll be able to find sample plans available too, which should give you plenty of ideas.

bpPractice through competitions

You can submit your draft plan into a dedicated competition for business plans, with several going on throughout the UK at any one time. Making a persuasive argument that your business should be supported by investors is always good practice, plus you can receive feedback from experts on how to improve. This gives you a great test run before you finalise your pitch and look for financiers.

Get local advice

Nobody knows your target market better than people in your area, if you’re starting up a local business. As well as conducting market research (this should be the very first thing you do!), you might benefit from actually hiring a business advisor who has experience in your area, and better yet in your exact niche. There won’t be anyone better qualified to help you set up a great business plan than someone who’s done the same thing successfully in the past.

The Best UK City To Start A New Business Is…

Resources, in a business context, are any economic factor needed to accomplish an activity. A business resource is anything that will help in the operation of a business and lead to profit-making. Each resource – including human capital, natural, tangible or intangible, financial resources and more – has economic value. These values need to be considered before starting your firm, especially if you are new in business. So how do these resources vary from place to place, and where can you find the best?

One of the most important things to consider is finance, which includes any source of revenue a company has including sales, loans, investments and so on. Money is what a business is about. Recently, research has revealed that Newcastle is the cheapest area to start a business in the United Kingdom, with an average cost of £17,008. Newcastle, with its growing status as a technology hub, is gaining favour from a few financial support schemes targeted at the region. For example, there is a new £60m Regional Growth Fund-backed programme called “Let’s Grow”. The programme is aiming to support capital investment and R&D projects that create jobs through a system of grant support. Applicants will receive up to £1m.

Another important resource in a business is human capital. Newcastle will certainly give you access to fresh new talent, being known as the region’s major student centre. Human capital is the combined skills, efforts and abilities and knowledge of a company’s workforce. Every employee should have the ability to transform raw materials into products or transform knowledge and skills into services.

When operating a business, a company will require natural resources such as paper, minerals or oil that are made or taken from nature. The values of these resources vary depending on several factors, including whether they are renewable or not. Within the UK, natural resources may vary significantly throughout the country depending on what natural forces you’re able to harness in support of your business. Newcastle may not strike you as a goldmine of these natural benefits, but the overall mix of resources on offer definitely brings down the average cost of setting up there.

Tangible resources things that help a company operate including production machinery, supplies for final product, property or rent, transportation and overhead. These resources vary across every different industry. An intangible resource, on the other hand, is often an overlooked business asset. These can be the brand image, patents, goodwill or anything else that’s hard to quantify but adds value. Some businesses often benefit from being competitive and survive well by just excelling in brand image, or by providing good protection for their product such as by having patent for a new technology they created.

Again, these may not be explicitly linked to businesses in Newcastle or even the north east, but it’s interesting to consider how regional differences can have an impact and how it’s necessary to consider so many different resources before even making a start in business. Wherever you choose to set up and however you choose to do it, we hope this article helps you get some perspective on the vital decisions you need to take in the early stages.

The Best Resources for UK Business Startups

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The United Kingdom provides so many opportunities for startup businesses, and plenty of benefits to encourage entrepreneurs to keep pushing and introducing the next best product to the competitive market. We all know that in business the profitable companies are the ones that take advantage of their competitive edge. Whether it be by location, supplier discounts or trading secrets, businesses are always looking to gain that competitive edge. The resources you use during the development of your young business can be consider building blocks for your competitive advantages. Let’s look at the best resources for UK business startups to see what help is out there for enthusiastic entrepreneurs and how it can apply to their future endeavours.

techTechnology

Technology has been an incredible blessing to many of these entrepreneurs, not just the UK but in every corner of the world. With the age of social media blooming and web browsing leading to attractive advertising opportunities, getting the word out to customers is that much simpler. Even the fact that a person can be on the go and can still purchase products at home, at a café or at the airport makes life so much easier for startups trying to capture attention.

financingFinancing

Financing provides a great way to get your investment off the ground and to meet financial representatives. Through grants and sponsorships, many dreams can become reality. New startups are currently able to apply for around 20 different types of government grants for small businesses. For example, research and development grants, business development grants and many others are among the options available depending on circumstances.


Support

One of the best resources for UK business startups is having a good support system that is willing to work alongside you. Sites like Business Zone and UK Business Forums support small businesses in various sectors giving them information and advice that will help them succeed. The Government is also doing its part in supporting UK startup companies as they begin to grow. The relatively new Small Business Act is making an effort to relieving some of the stress and issues faced by new entrepreneurs in the past in hopes to make it easier for future generations.

supportThere are more resources that will give the best chance to UK business startups, but these are the primary categories and the most important ones to consider. To new, developing business owners these will come in handy and more information is just a click away. With social media and technology making advertising and communication more simple and efficient, a lot more effort can be used in areas such as planning and development. Financing opportunities provide great solutions and avenues for small business that need that extra boost. Lastly, nothing is quite capable without support from agencies and your government backing. These resources will give you the edge you need to succeed in the UK.