The best way to make money through your business is to let your money work for you. This means that you are in control of your finances and continuously improve your business' financial stability and security. When you gain financial independence or build wealth through proper investment, you will finally have the freedom that everyone is aiming for. The first step is, you must consult someone who is an expert in financial management and discuss how to create a budget. You may need to adjust the budget monthly or quarterly depending on the ongoings and outgoings of your finances to account for large expenses and your spending habits. In this episode, we have Sarah Stein back again from Miss Efficiency talking about cash flow basics and why cash flow is important in your business.
Business Tips to Help You Get Ahead of the Competition
It’s important for business owners to understand the ins and outs of operating a business. Read on for some business tips and best practices that you can take advantage of.
When a company experiences growth at a stage where it can no longer manage its internal processes, to keep up the pace, it can choose to hire another workforce to deploy its operations without interrupting the business flow. Outsourcing can free up personnel, facilities and time resources and allow companies to devote their resources to what they do well to improve their efficiency and competitiveness. While outsourcing has several advantages, it also presents other disadvantages. Outsourcing is mostly virtually that includes negotiating and signing contracts that require the involvement of legal counsel as well as daily communication with the outsourced work. To know more about this, we have Zsofia from My Processes to introduce us to the world of business outsourcing.
Do you have a business continuity and disaster recovery plan? Do you know what type of plan you may need for your business?
Have you ever thought of having more hours in a day? Everyone has experienced waking up in the morning and hoping to have an extra hour of uninterrupted, peaceful work time. But the reality is, we can't control time. What we can control is our productivity. We must become cautious about how we spend our time and how we can get things done efficiently. Creating a daily list of your tasks is one of the best resolutions. Your tasks don't need to take the majority of your time to complete. The experts say that it's best to get those dreaded assignments out of the way first so that you can free to complete everything else on your list. This will make you feel better and more productive. In this episode, Les Watson from Get More Time shares his expertise in time management.
The role of a manager is not easy. You will be responsible for your work alone and for leading and motivating your team to accomplish the organization's goals. So how to go about being a great manager who displays authority and leadership? Others may say that maintaining good communication among your members is the most effective way to build a strong team because employees always want to be kept in the loop about any ongoing projects and activities and as a leader, it's important that you communicate with them well and have them informed all the time. Note that you must encourage creativity and ensure that everyone is clear about what is expected of them. In this episode, Todd Pavlou shares tips about how to manage your team effectively.
You might be thinking now that a lot of us are working from home how do we reach the right audience? Before COVID-19, you could meet people by doing lunch meetings and networking things where you might be able to find the right person interested in your product or service.
Now, everything is different, and we've got Mike Maynard here from NapierB2B to talk about some solutions to help us find the right audience and reach them from home.