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My passions have always been gardening and painting. The two seem to go together and this was born out when starting a business in landscaping. It was natural to paint a picture of the finished design in my head. This led me to undertake counseling for those who could not imagine what a garden should look like. My long-standing interest in the outdoors held me in good stead as my little fingers were always in dirt from the time I could toddle.
Once advertising started and my first consulting job came to me it led to other things. The lady was so impressed with what she was offered that she paid me $400 to draw a plan of it. This was something right up my ally.
Putting my imagination to work the plan was a great success and before long there were some 2-3 per week along with consulting jobs. The main requiring for doing something like this is confidence. If one shows that they know what they are talking about and can satisfy their client with quality work, then it has to be a success.
Of course my enterprising didn’t stop there. The main point of this article is that people need to step out of their comfort zone and use their hobbies and interests to build a business. They have to start from scratch to do it but if they have enough confidence and knowledge they will success.
Mistakes will happen and that is the learning curve one has to go through. Costs of consulting work doesn’t have to be over the top as there is no outlay to doing it. Start small and build up. For consulting my charge was $75 and that is more than affordable when most landscape designers might charge 10 times that much for the same advice.
Norma Holt has knowledge that enables her to understand many issues. Political, social and behavioral problems are usually on her list for discussion as well as anything to do with the Spirit of the Universe and reincarnation, which she experienced. She is happy to hear from any of her readers.
Every entrepreneur seeks to know the secret recipe for success. What strategies are made to increase the conversion rate? What are the exciting ideas that can be implemented to make the company grow? It is super strategies that create opportunities for a company. There are always some brand new ideas that you can implement to grow your business. However, not all the existing tricks will give your business a boost. It is only when the right strategies are followed at the right time and the right place that you end up having a revenue-generating business.
If you have an app business, here are 5 strategies you can follow to make sure that your business climbs the ladder of success. Let’s take a closer look:
1. Know the Purpose
To start with, in your mobile app business, it is vital to know the purpose behind the creation of an app and the audience for whom the app is created. The advantages and the true value of the app shall not be confined to the number of features it has and rather on how the user experience is. One of the most significant factors in creating compelling apps is close collaboration among developers, the quality analysis team, and designers.
2. All About Planning
It is the business plans that earn you profits. Only with clear objectives can you come up with the most suitable solutions required by customers. When it comes to creating successful apps, it definitely requires sharp focus. The complexity of a mobile app can be huge but fundamentally, an app must be designed by having an understanding of the real world. Moreover, to come up with engaging apps, it is also important to identify the exact expectations of users. So you see that accurate planning is vital for creating successful apps.
3. Choose Your Platforms Wisely
A significant part of sales depends on how you reach out to your target audience and you basically have to connect with them in the best way possible. Unlike websites, mobile applications are designed for various platforms. These days, there are multiple devices and multiple vendors. For instance, most smartphone users make use of iOS devices and others go for iPhones. Thus, the process of app development completely depends on how customer engagement can be carried out on different platforms.
4. Cross-Check the Intuitiveness of the App
Do you think that the app that you design will help in making your client’s life easier and happier? Once you design an instinctive app, it can end up giving an amazing experience to its users. Apart from integrating notable UX designs and streamlined functions, it is equally important to check whether an app is responsive enough and provides suitable performance to cater to the needs of the user. Also, ensure that the app is free from bugs.
5. Promote Your App
Promotion plays an integral role in boosting your app business. One of the most significant factors behind the popularity of an app is the way it is promoted. Adequate promotion of an app through reviews, ratings, video teasers, recordings, and social media posts helps to create a buzz among the target audience.
When it comes to the app business, the competition is stiff and if you fail to follow the right strategies, you may end up causing your app to lose its visibility among an extensive range of audience. So, follow the sure-shot strategies stated above and ensure the success of your app.
Donor management is never easy no matter how easy it may seem; there is always some information that you will need to get and some that you will need to impart in order to learn some of the best ways of it.
In the many things about donor management the one that counts to be the most important of all is improving fundraising and getting into the skills of it all for the best results. Here in this article are the ways you need to follow and imbibe to improve the fundraising program for your nonprofit or church.
1. Be Transparent with Your Donors – Though this might seem like an obvious point, it is usually the one that is most ignored, and the most important of all. What is important about transparency is your donors being able to trust you with all – from your plans to our ideas and ideologies. Also, this is an important point to note because only when they trust you will they be able to steward their money well and you must be able to show them you are doing so. By ‘transparent’ we mean both financial and program transparency.
Financial Transparency: You might not be considering financial transparency to be an important point but this should definitely be on your list of important things. It is considered important to release a note time to time which would show how you are allocating your funds, but your donors are not going to sit and read through that long document. Make sure you give your donors an easy way to digest how you are investing their money. Create a graph, chart, infographic etc. And if it looks like you spent more in say, fundraising, than expected, explain why. Your donors love your mission and giving them a peek behind the curtain creates a sense of belonging and teamwork.
Program Transparency: Program transparency is all about the IMPACT. If you can show your donors the impact their money has made in changing the lives of those you’re serving or where the money has impacted, you can be sure you’ve done your thing right. Create annual reports showing the graphs of how far you’ve come with the support, meanwhile mentioning exactly where you want more changes and where you’re striving to achieve more.
2. Optimize our Donor Experience – Your donors shouldn’t be there for just one years or only a period of time, and that is possible only if you manage to optimize the donor experience convincing them that there are things that’ll help you stay in contact for more than one donation period. Try personalization (which definitely does no longer mean just hey and the first name); it is always recommended to stay in touch with the donors through emails, letters and phone calls. You can segment based on last gift amount, last gift date, a specific campaign – anything. And then create fundraising messaging around each category.
3. Audit Your Systems – Thought this is not important? Wrong!!! One of the most important points to be considered to improve fundraising is to audit your system – audit on your end – use the right set of tool and the right techniques. Keep the audit impartial and keep it clear – this will help you understanding how far you’ve come with your fundraising program and exactly how far you will be able to go with it.
Fundraising for churches, charities and non profits is the thing that does the most benefit and an increase in the finds over a stipulated period of time is exactly what they’re striving for. It is therefore recommended that you use these set of tips mentioned above and create a draft accordingly of you new ideas and plans for an increase in the funds.
Every holiday season, from late October through January, finding a reliable courier or shipping company can become a nightmare. Time sensitive packages are not always given top priority by the big courier services because of their high demand for deliveries during the holidays.
Businesses who rely on courier services throughout the year know the holiday season will become a problem for them due to the overwhelming of daily consumer shipments. Whether it’s a gift being delivered across the country or a medical lab needing sensitive packages transported a few miles away, all packages are treated the same. That means without proper care!. How many times have you seen “FRAGILE” on a package only to receive it smashed. It almost seems some courier services enjoy damaging packages. They think tossing it into the back of the truck is careful. Or rolling it like a bowling ball is fun. Well, not to the medical labs, dental offices, hospitals or other businesses that hope their package is treated with care.
Unlike a consumer who can pre-schedule their package to be delivered, many businesses do not have that luxury. Flexible delivery dates are not part of the business world. Too often a special delivery package needs to be sent within a few miles. It could be within a 100 mile radius or just a 10 mile distance. No matter how far, the package needs to get there NOW.
Don’t wait for your packages to have these issues with your existing courier service during the holiday season. One reason why this happens is they hire temporary drivers and those drivers might not be familiar with the area. And more than likely, they are paid by the hour, so what’s another hour or two on the road to them it’s more money! Managing time-sensitive packages like medical supplies, medial lab tests, or legal documents can get lost easily during this busy season. Local same day courier services are small enough yet large enough to give you the personal care for all same day deliveries.
Isn’t it be time you find a local courier service that is reliable and doesn’t hire temporary drivers? If your business has packages that need to be delivered within 100 miles, ask your business friends on who they use for their deliveries and if they are satisfied. Be sure they have a solid reputation with medical labs, hospitals, pharmacies, dental labs and other businesses that require sensitive packages to be delivered on-time. Many businesses require same day delivery!
If you are going to establish a new business, know that it is not going to be an easy job. Starting a business is not about setting up a new office. As a matter of fact, the most difficult part of running a new business is getting it promoted the right way. Nowadays, you can use advertising flags for the promotion of your products and services. You can find a lot of promotional tools in the here and now. As far as choosing marketing tools is concerned, you have a lot of things to choose from. One way is to use advertising flags. Let us know more.
Since technology has introduced so many ways of promoting products and services, the conventional methods have experienced a drop in popularity. They have not lost their usefulness but new methods have rose in popularity with the passage of time. Flags for advertising were used in the past and they are still very effective.
If you have made your mind to make use of this marketing tool for your business, we suggest that you learn to use them well. Given below are some tips that may help you.
You can make your customers glad by offering special discounts. And for this purpose, this tool can work in an effective manner. All you have to do is put these flags on the sales counter or other areas of your office or store. The thing is that you have to place them somewhere where they can catch the eyes of the visitors.
New products or services
Another way to use them is to put them outside your physical store like the car roofs, hotels, shopping malls, busy streets and restaurants, just to name a few. if you have a new product or service to promote or you want to give a huge discount, this marketing tool can help you a lot. Just put them somewhere where you know that a lot of people see them.
The use of advertising flags is not limited to new launches and deals. You can also use them for improving your web presence, and endorsing different contests, just to name a few.
Trade shows and exhibitions
If you are going to take part in a big exhibition or show, you may be excited to see a huge audience. You may want to let the people know about your presence or participation in the event. If your prospective customers don’t know about you, they are not going to get in touch with you. Therefore, what you need to do is make them aware of your presence in an easy way. And one way of doing so is to use a promotional flag. All you have to do is put them up at the right place so that others could see it.
Marketing is like sex. Everyone thinks they’re good at it.
– Steve Tobak
We are in a golden age of solopreneurs: independent, innovative experts who are turning the traditional working model on its head. No longer content with working under layers of organizational management, workers around the globe are increasingly making the decision to take full control of their careers. To carve their own niche and capitalize on their skills. To join the solo revolution.
And you are one of them. A revolutionary!
Creating your own brand has never been easier. With the explosion of social media, solopreneurs have immediate access to billions of people around the world. You can speak directly to anyone, anywhere, at any time. Likewise, the number of services and products consumers have instant access to is infinite. Neither business nor buyer is bound by location anymore.
It is an incredibly liberating age. But it’s also one that some entrepreneurs and businesses find overwhelming.
We’re Living in a Digital-First World
In his book Ctrl Alt Delete, Mitch Joel discusses the term “digital first”. He reveals the five key movements that organizations must embrace to future-proof themselves – or go out of business. One of these shifts is the fact that now, the first place your brand and business are validated is online. Essentially, the internet and social media have the power to make or break your chances of success.
Serial entrepreneur Gary Vaynerchuk is a great example of how to cultivate a successful business by leveraging digital media. Born in the Soviet Union in 1975, Vaynerchuk immigrated to the United States in 1978. From humble beginnings, his father went on to own a liquor store in New Jersey. In the early days of the digital-first world, Vaynerchuk could see the burning potential of his father’s business. After graduating from college, Vaynerchuk transformed the liquor shop into a retail wine store, which he named the Wine Library. In 2006, he started a daily video blog, Wine Library TV. This hugely popular webcast turned him into an internet celebrity. It attracted 90,000 viewers a day and led to a flurry of TV and speaking engagements. In just six years, Vaynerchuk grew the family business from $1 million a year to a whopping $50 million a year.
Not too bad for a small family business, right?
So, as you can see, traditional marketing has been blown out of the water. We’re no longer restricted to cold calling and setting up meeting after meeting to generate leads and sales. Digital marketing has opened an array of cost-effective avenues for self-promotion and lead generation. Sales are now about leveraging your social networks, engaging with people online and educating.
This is, essentially, the social sales model: (see link below)
Today, the businesses and entrepreneurs that make the most impact on their audiences are role models. They’re trusted advisers who create tribes – powerful online communities that help their brands grow. They educate and provide solutions. They’ve jumped on board the social sales train and embrace the connection economy whole-heartedly. Because if you don’t, you get left behind.
But we can’t rest on our laurels. We must build on this massive sales reform and look to the future. We must become industry ambassadors. We must become thought leaders who engage meaningfully with our followers, share generously of our expertise and regard our audiences not just as leads or dollar signs, but as lifetime partnerships.
Why Stand Out from the Crowd
Solopreneurs are the way of the future. They account for 61% of Australian businesses. And with the advent of freelance sites such as Upwork, 99designs, Freelancer and Airtasker, an increasing number of Australians are freelancing. According to freelance marketplace Elance-oDesk, 30% of the Australian workforce – or 3.7 million people – undertake some sort of freelance work.
Digital marketing presents an enormous opportunity for solopreneurs. According to Ipsos Open Thinking Exchange, the average person spends two hours a day on the internet. Furthermore, IBM’s Global CEO Study found that CEOs believe social media utilization for customer engagement will increase by 256% over five years. This means social media will become the second-most popular way to engage customers after face-to-face communication.
Social media has created a level playing field. It’s cheap and readily available. You don’t need large amounts of money to build a business. You don’t even need an existing client base – you can start one from scratch online. The internet has given everyone the potential to create a successful solo business.
But there’s a downside to this equal opportunity. Despite the accessibility of social media, one of the biggest challenges entrepreneurs continue to face is finding leads and retaining clients.
The digital marketplace means you’re competing against everyone else with a business like yours. You can’t simply create a LinkedIn or Facebook account and expect clients to come to you. How will they know you’re there? What makes you stand out? When everyone else is pushing their own unique selling point, what will make people choose you?
In a world where customers have immediate access to information on every kind of business around the world, it’s hard to cut through the noise. To gain that competitive edge, you must create a connection.
Being a solopreneur is not enough. You must bond with your audience by offering more than your products and services alone. You need to educate, lead and gain trust. You need to make a real difference to the lives of your clients.
Position, Position, Position
Positioning is fundamental to creating trust and having influence. It’s more than just creating an image. It’s about owning your space in your industry. It’s about flexing your expertise, starting conversations, changing the game, creating engaging content and enlightening others. It’s about being the go-to expert for peers and clients needing guidance.
And it’s what leads to sales.
When you have a rock-solid positioning, your return on investment is second to none. Digital media and technology company Burst Media’s 2014 Influencer Marketing Benchmarks Report found that on average, marketers who implemented an Influencer marketing program in 2014 received $6.85 in earned media value for every $1 of paid media. The primary tools used in Influencer marketing were:
Social syndication and branded content distribution
Influencers and influential content
Blogs. Content. Social media. These are indispensable, cost-effective tools if you want to elevate your positioning from business owner to leading industry expert. And they are what will build your audience’s trust in you.
Preparing a resume that is organized, succinct, and eye-catching is one of the best ways for construction professionals to launch a fruitful job search. Eye-catching resumes typically feature highly desired skill sets, relevant certifications, and impressive projects that were completed ahead of schedule and within budget. Below are ten simple resume writing tips that everyone in the construction industry should follow.
1) Tailor your resume to the type of position you are seeking. Employers are often searching for candidates with a specific set of skills. Review commonly required skills for the type of position that you are seeking and be sure to include references to your skills in those areas. Examples of specific skills that are frequently sought in the construction industry include:
Expertise in construction law
Incorporation of sustainable design strategies
Equal Employment Opportunity Employment expertise
2) Include the number of people you managed. It is particularly important to mention work experience that involved supervision of multiple teams of people or a large number of workers. Hiring managers recognize that there is usually a big difference between a candidate who has managed a team of 15 laborers and a candidate who has overseen 150 laborers.
3) Highlight relevant certifications. Industry certifications set professionally trained candidates apart from the pack and often instill confidence in recruiters and hiring managers. Examples of key certifications to consider including are as follows:
Certified Construction Manager (CCM)
Construction Safety Certification
OSHA Hazardous Waste Operations & Emergency Response (HAZWOPER)
Any CPR or First Aid related certifications
4) Highlight three or four of your most notable projects. Be sure to reference the budgets associated with each project to provide hiring executives with an idea of the magnitude of the ventures that you have overseen. You can also showcase your flexibility and breadth of experience by including a diverse collection of projects within the public, commercial, and residential construction arenas.
5) Showcase successful projects that were completed ahead of time or under budget. Continued construction labor shortages are leading to an increase in project delays and overspending. Completing projects ahead of time or under budget is more impressive now than ever, so construction professionals should not be shy about highlighting their ability to exceed client expectations.
6) Reference familiarity with special tools or software. Remaining competitive in the construction industry requires a commitment to learning the latest cutting-edge
Building Information Modeling (BIM) software
Computer-Aided Design (CAD) software
Familiarity with 3D visualization and architectural animation
7) Prepare an impressive portfolio of references. Include people who can provide feedback regarding your skills and aptitudes. Additionally, if a specific skill is required for a position you are actively pursuing, be sure to include references who can discuss your achievements in that area. For instance, if a position requires a candidate with a history of supervising 100+ workers, make sure that the references you include can speak about your ability to oversee multiple teams of workers.
8) Include your LinkedIn URL. A growing number of hiring managers and recruiters are looking at LinkedIn profiles to confirm candidates’ legitimacy and industry connections. Make sure that your profile is up to date and that there are not any consistencies between information on your LinkedIn profile and your resume.
9) Reference any awards or special recognition you have received. Awards that are relevant to the company or position for which you are applying are especially helpful. Examples of relevant awards include the following:
Associated Builders and Contractors, Inc (ABC) awards for excellence in construction
Construction Industry Safety Excellence (CISE) awards for safety improvements
Any local or state awards received for outstanding achievements in the construction industry
10) Seek the input of an expert staffing professional. Enlisting the assistance of a staffing agency is one of the best ways to ensure that your resume is professional and complete. A dedicated agency representative can also provide assistance with career coaching and other job-related activities. Ideally, the agency you choose should have decades of experience providing guidance to professionals within the construction industry.
The role of a well-organized resume should not be understated. By following the tips above, construction professionals can enhance their chances of grabbing the attention of hiring managers.
The ability to make critical purchases from your vendors, pay down loans, and meet employee payroll has become a common problem among businesses across all industries. Cash flow has always been a major issue with all businesses and without positive cash in your bank your business could fail. By the time a business realizes their cash flow isn’t going to support their payroll, or pay vendors, the owners make rash decisions by going to companies/banks that can destroy their business.
If you realize your business is about to fall into this position, don’t panic. Review your financial situation with your accountant or CPA. But don’t act too fast. There is another option.
So what can you do to avoid this problem?
Before telling you the solution, let’s talk about the 3 things you should NOT do.
1- Bank Loans. If you think a bank will help finance your old or slow paying customers, well they are not.
2- Factoring Invoices or Receivables. Another myth. When companies rely on this method of cash flow, it just reduces your profits. Plus, once your invoices or receivables have been factored, most often this “third” party who now owns them will be so aggressive with your customers to collect the money that it can ruin your business by losing a customer.
3- Collection Agency. If all you want is someone to harass your customers, then call a collection agency. Odds are, they will just irritate your customers with strong-arm tactics that never work and here again you will lose another customer.
What you need is positive cash flow, right? Well you can have positive cash flow and retain your customers by using a reputable company that knows how to talk to your customers in a manner that will actually convenience them to make timely payments without losing them as a customer.
A credit management system can provide effective cash flow by acting seamlessly with your accounting department. This should NOT impact your accounting staff when handled properly. The slow paying customers and poor receivables from your accounting department should be quickly identified and presented to management in a timely manner. It is best you do not use a middleman, or off-shore calling, These will just hurt your business more because your customers know these types of calls who only want to collect the money, not help make a payment plan.
There are many articles to help find a good credit management resource. Do your research and seek out those that have a solid reputation and work with you as your in-house accounting department.
What exactly is a Greenhouse? It is a name given to a structure with roofs and walls made primarily out of a transparent substance like glass. Within a greenhouse, plants that need regulated climatic conditions are cultivated with an aim of healthier output. These buildings vary in size from smaller sheds, to larger commercialized structures. In this current scenario, greenhouses are part of modern-day farming which is focused towards protected cultivation of plants in an enclosed shelter, without allowing any type of damage to the product as well its nutrients.
People who love home-grown veggies and fruits will definitely prefer a greenhouse. This is due to its ability to provide an effective method to cultivate plants protected from the harsh external environment. Greenhouses are usually equipped with clear or glass-plastic walls that enable them to preserve heat, while also allowing light to enter. The resulting situation brings the ideal factors for cultivating many kinds of plants.
Quite a number of commercial glass greenhouses are categorized under innovative production houses for flowers and vegetables. The active greenhouse market trends are surely leaned towards modern facilities. The inclusion of heating, lighting, screening installations etc., are needed for the automated growth of plants. Moreover, various techniques are implemented for ensuring a significant decrease in production risk before the cultivation of a particular crop.
To meet the needs of the sector, greenhouses are produced for high dependability and performance. These types of structures offer valuable data regarding a material’s stability, composition, response to wear and tear atmosphere and external factors. Greenhouses thus contain applications for different types of processes like food production and scientific research.
For instance, the smart greenhouse is an innovation in farming and is a climate managing, a self-regulating procedure that is perfect for plant survival. It helps to create a micro-climate environment which is like a new climate in a restricted zone. This zone is created by the use of sensors and various applications. The smart greenhouse contains different components like monitoring system, actuators, and control system. The concept of smart greenhouse aims to ease growth situations for plants and creates an autonomous growing process.
Extended Growing Season
Plants grown in a greenhouse are not subjected to the same degree of temperature differences which is needed for plants cultivated in an outdoor garden. Based on latest trends, greenhouses trap radiation that comes from the sun into its insides and enables the retention of heat within the enclosure. The controlled climate that is achieved in a greenhouse helps farmers to lengthen the growing season of plants which may not survive the colder climate outside of the greenhouse. This allows consumers to buy locally cultivated vegetables, flowers, and fruits which are out of season.
Control over the Produce
People without a garden are bound to buy their food at the groceries or farmers’ market. On the other hand, commercial farms usually use toxic pesticides and chemicals, to enhance the living situations of crops and improve production. When businesses try to prepare a greenhouse industry analysis, the first aspect that they learn are the crucial advantages that are connected with the implementation of greenhouses.
A test conducted by an environmental group revealed several vital facts. It found trace amounts of toxic stuff over the produce even after the harvest. Greenhouses help farmers grow their own food to gain absolute control over their environment. This process produces tasty and fresh food without the risks of toxic chemicals, which can potentially be hazardous.
Food Boost from Plant Isolation
A greenhouse maintains the plants in isolation, preserved safely from the external world comprising pests, rodents, and insects, along with other animals. According to the research gathered by big universities, gardeners must isolate their plants by using a greenhouse which is sealed and caulked. An efficient greenhouse with absolute isolation and tightly sealed, along with expertly managed air flow which offers protection from insects, pests and even from diseases should be preferred by the farmers.
One of the things that many businesses around the world are notorious for is layoffs of their workers when they have to cut costs. It appears as though the least required asset for these companies is their workers. As brutal as it may sound, many businesses reduce their team sizes to reduce their costs every day. It is quite surprising because there are in fact dozens of different ways for businesses, especially small ones, to cut their costs without sending their employees home. Not to mention, small businesses aren’t in the best position to terminate their employees when they are already struggling with growth and expansion.
Let us first look at the circumstances and reasons why small businesses resort to firing their employees and terminating their contracts.
Reasons Why Businesses Terminate Their Employees
Your Employee’s Performance is below Requirements
The biggest and probably the most valid reason for firing an employee is when they are not able to perform according to the set targets. Despite this being a valid reason, you should always follow the complete procedure and let go of your employee most ethically and professionally possible. Tell them that they also have the right to quit a company when a company does not pay them as promised and vice versa.
Your Employee Isn’t Honest
You have noticed that your employee is not honest. They try to spend time doing nothing behind your back and are interested in things that they should not be concerned with. It is a risk to have such a worker working at the company.
Your Employee Is Having a Hard Time Assimilating
One of the reasons why many employees are not able to give their best is because they can’t fit in the culture of your workplace. It’s either their religious, personal or moral beliefs that don’t let them feel being a part of the team.
Your Employee Doesn’t Care
Believe it or not, some employees don’t care about the rules and regulations of your workplace and being at a professional place. They bully people around them, try to act pretentious, are not punctual and do not pay any attention to the dress code policy.
Your Employees Cost You Too Much
This is quite an oxymoronic situation where the people who bring you business are the ones costing you money. Sometimes, companies become financially weak, and the only way they have to reduce their costs is firing employees. This helps them save money on employee compensation, bonuses, and incentives.
Is Employee Termination the Only Way to Cut Costs?
Not at all! There are many other ways for companies to reduce their costs without letting go of their employees. Here are some.
Negotiations with Vendors and Suppliers
You can look into your current list of suppliers and vendors and look for opportunities to reduce costs. You have to realize that there are group purchasing organizations developed specifically for this purpose. Furthermore, there are online search engines designed specifically for businesses where you can find other businesses that can help you reduce your costs.
Buy in Bulk
One simple way to reduce your costs is to purchase in bulk. Whether you are buying products or subscribing to software or online platform services, bulk purchases will always help you reduce your costs. As a business, you are subscribed to dozens of different online services and buy various items on a monthly or weekly basis. Buy them for several months or a complete year to save your costs.
Reduce Lavish Expenses for Now
It is amazing that businesses offer their employees with refreshments, coffee, and teas for free, but there is a time when you can do this with ease. Until and unless you have reached a point where affording such luxuries do not bother you at all, do not introduce them.
Invest in the Right Technology
Whether you are buying an electric generator for your office, bulbs and lights, ceiling fans, air conditioning units or machinery, you must invest in latest and energy-efficient technology.
Marketing can suck a lot of your capital out of business depending on the type of marketing you are doing. However, it will be rewarding for you if you use analytical data to narrow down only the marketing campaigns that are lucrative for your business. Spend on them and keep away from spending on marketing efforts that have not yielded any good results.
Similarly, you can find many other ways to reduce your costs without sending your employees home.
Risks Associated with Firing Your Employees
While firing your employees should be the last thing on your list of methods to cut costs, you must also know the many risks that come with employee termination. Here are a few.
Sharing of Company Secrets with Competitors
When employees are not happy with your decision of firing them, they may not care about what action you can take against them. They may go for interviews with your competitors and share your trade secrets. This can be a big set-back for you if your competitor decides to take advantage of the situation.
When employees believe they have been fired based on unreasonable grounds, they may try to take you to court. If any wrongful termination is proved, it can be expensive for your company. Always be sure to complete the procedure of termination or make sure the termination is justified.
Attack on Brand Image through Social Media
Today, people have a voice, and some people are ready to listen to their voice. Social networking platforms are great places for employees to discredit your brand and slander your image if they believe they were terminated by you wrongfully.
Bad Performance of Existing Employees
It does not matter how much you care about your employees. They may have a stronger connection among themselves than they have with you. Therefore, when you terminate an employee and cause some dissention among the ranks.
So, it is highly recommended that you consider the many other ways of cutting costs for your small business before choosing to terminate your employees.