October 7, 2022

How to Celebrate Important Milestones at Your Business

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If you own a business, you know how hard it can be to meet important milestones. Experiencing growth and success can be especially difficult given the current economy and how competitive businesses are with one another. When you see growth and success, it should be celebrated appropriately to boost employee morale and maintain momentum. So what can you do to celebrate reaching important milestones?

Create a Gift Basket

Employees love receiving gifts. Gifts show employees they have a more meaningful relationship with their employer than something that is strictly work-only. Don’t just pay attention to your on-site employees though. Gift baskets are also great for creating unity in an increasingly remote-based workforce. This is because employees—no matter where they are—will have physical objects and gifts to remind them of the company. Employees may feel more united with the company and their coworkers when they receive a gift basket. They will know that their individual efforts are noticed and appreciated.

Host a Party

A party is a sure way to celebrate any major event, including reaching important company milestones. Employees will be able to celebrate with you and the company. Parties make it easy for everyone to soak in positive vibes and get excited. Not sure how to get everyone pumped? Start with music. Music at your company event can help set the mood. Make sure you choose appropriate and upbeat music if you’re the DJ. If you’re hiring a DJ for your party, clearly communicate your expectations and standards for the music they play.

Have Giveaways

Giveaways are another great way to get your employees celebrating. Choose to invest in high-quality gifts, not just company paraphernalia. Even if it’s good quality and on the more expensive side, giving away company paraphernalia comes across as cheap and boring. High-quality gifts suggest more thought and effort went towards procuring gifts for the giveaway. Employees will understand that the company is doing well thanks to reaching milestones and has the budget and the desire to get great gifts for giveaways.

As your company continues to grow, your idea of an important milestone will change as well. Milestones may include things like hitting a goal for a certain number of clients or sales within a quarter. Remember, no matter how small or large your business is, it is still crucial to celebrate milestones. Celebrating and recognizing your important milestones can help you reach many more in the future.

Are you ready to take your business to the next level? Shannon Gronich can help! Click here to see how you can benefit from using Shannon for your business and marketing consulting needs.

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How to Avoid Critical Mistakes When Running a Business

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Boss and executive team feeling stress and serious of fail business, partners holding heads in hands depressed by failure and exhausted with problems with a pile of work.

Running a business is incredibly intricate and complicated. There are dozens of moving pieces, and it’s easy to slip up now and again. However, any big mistakes could lead to your business closing and financial trouble for you. Follow these tips to ensure that you avoid costly mistakes while running your business.

Create a Comprehensive Plan

Running a successful business takes massive amounts of organization and planning. To ensure that you avoid any critical mistakes in the day-to-day of your business, it’s important to create a comprehensive business plan. This should ideally be done in the very beginning stages of running your business, but it’s always important to update your plan as your business grows. This plan will include things like customer interaction, pricing, return policies, etc. Having this plan as a constant reference allows you to know how to handle more situations and avoid making mistakes.

Keep Track of Your Financials

If you make mistakes in your business’ financials, it has the potential to cause detrimental damage to your business. Your business’ finances are what allow you to pay employees, restock your inventory, and pay for your business space. Working with a professional accountant will help you clean up your finances. It can be expensive to hire an accountant as a full-time member of your staff. It’s much more financially feasible to outsource your accounting needs when they come up. Your accountant can help you see where you’re spending too much, and can also help you file your taxes when the time comes. 

Delegate

As a business owner, it can be easy to take on extra responsibilities and quickly become overwhelmed. Because you started the business, you likely feel as if you need to personally be invested in every aspect of it. However, you must learn to delegate to focus on more important parts. For example, you may want to personally oversee your business’ finances. However, if you’re not a trained accountant, this can actually cause more harm than good. Hire experienced, well-trained professionals to handle various parts of your business that you don’t love or aren’t skilled in. This leaves you with more freedom to focus on the aspects of running a business that interest you.

Running a business involves a lot of trial and error, and you will definitely make mistakes. These are great learning opportunities, but it’s important that you avoid making any large errors that could damage your business. Be sure to avoid making errors like these when running your business.

Check out this article on what your business needs to stand out visually!

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Accounting Mistakes You Should Avoid at Your Business

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Accounting is fundamental to all business. No matter how much you would like to stick to the interpersonal, creative side of your business, you’re always going to need to run your finances properly to function. Here are some of the most egregious accounting mistakes that new business owners tend to make.

Not Recording Every Expense

Carefully and methodically recording every expense may be a pain. It might be obnoxiously time-consuming as well. But at the end of the day, having an accurate record of your expenses will be enormously useful to you for a myriad of reasons. First of all, having an accurate expense record will help you create an accurate budget. You’ll be able to see – without exception – every business cost, ranging from insignificant to life-changing. You’ll be better able to confidently organize and plan costs for the future. And, at that special time of every year, you’ll be prepared for tax season.

Getting Taxes Wrong

Taxes are probably the most important single reason that you need to record every single expense. Messing up your taxes can result in the best-case scenario of a hefty fine, and the worst-case scenario of you in prison. Having a comprehensive record of expenses will mean you will know exactly what you need to deduct on your tax paperwork. It’s critical to get things like tax withholding right when doing payroll, and your records will help you keep that process straight. And finally, if the IRS ever decides that it’s time to audit you, you will have a complete and clean record to let them parse. Being audited when you haven’t kept your records as thoroughly as you should have can be disastrous.

Constant Planning and Budgeting

Most business owners know that they need a financial plan before opening their business. But to run as smoothly as possible, you’re going to want to keep an ongoing, updated plan that can be adjusted when you need to. Looking at your business’s current financial trends means that you can try and better understand in which direction your market and your business are headed. You can create budgets based on conclusions that you or a consulting analyst have drawn.

Good financial practices will ensure that your business avoids that worst-case scenario. Start-ups and small businesses demand a lot, after all; they can bankrupt someone who isn’t careful or lucky. All the more reason for you to put in the effort and care your business deserves.

Check out this article on how to maintain your company’s app!

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How to Keep Employees Happy at Your Company

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When you are running your own business, it is important to make sure that you are doing what you can to make your employees happy. They are one of your most important resources and without the help of a great team of employees, your business can’t be successful. As a business owner, you are in a great position to assess the needs of your employees and work to meet them so they are happy working for your business.

Promote Work-Life Balance

Sometimes you are going to need a lot of work to be done, but even in those times, it is important to promote work-life balance. Burnout can be a huge problem for business owners, and the main contributing factor is having employees who are overworked and stressed. You must establish a company culture that prioritizes taking breaks and getting away from work so your employees can focus when they are in the office. This will help to reduce burnout and improve productivity by creating a positive work environment for your whole team.

Create a Robust Benefits Package

The benefits that you provide your employees show them that they are valued and help to keep them healthy and happy at work. As you are working to create a benefits package, talk to your employees about the things they need. Once you have established your benefits package, it is important to maintain those benefits to keep employees feeling supported at work. Your benefits should include health insurance, PTO, and retirement benefits in addition to other benefits that are specific to the needs of your team. As an employer, you have a variety of retirement plans to choose from.

Recognize Good Work

Your employees are working hard to make your business the best it can be. There is some satisfaction in doing a great job, but it also helps to have an employer who will recognize your good work. When you have a great employee, you can help them to be happy at work by recognizing the great things they do. As you show your employees that you are paying attention and value the work they do, you will build a stronger relationship that will help to move your business forward.

As you continue to grow as a business owner, you can find more and more ways to make your business great. The most important part of that plan is making sure your employees are valued for the work they do. When you can maintain your employee relationships, you can make your business an incredible place to work.

Check out this article on how to diversify your risk as an entrepreneur!

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How to Train a Functioning Remote Workforce

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Since many of the COVID-19 restrictions started in 2020, an unprecedented number of businesses have transitioned to having remote workers. There are a lot of benefits to having a remote workforce, including minimized office expenses, but it can be challenging to know how to train and manage them. Here are a few tips that will help you to know how to train a functioning remote workforce.

Set Standards for Communicating

First of all, you need to set standards for communicating from the very beginning. These standards will help your workers to understand the expectations for communication throughout the day. For example, if you have daily or weekly meetings through a video call, they’ll need to be aware of those. Regular meetings can help to clear up any questions that anyone might have on your team and can also build camaraderie between team members. Make sure that your remote workers are also aware of how and when you’ll be checking in on them. (More on the benefits of this later!) If your standards of communication are clear, your workers will know how to reach out to you when they have questions, and your team tasks will go smoothly.

Teach Them Good Cybersecurity Practices

If you have a remote workforce, you’ll also need to teach them good cybersecurity practices for them to work effectively and safely. With an increasing number of employees working online, an increasing amount of data is stored online and outside of your business front or company office. You need to make sure that your employees know how to protect the data that they have access to. For example, if your employees work remotely, they should know that free public Wi-Fi can be insecure. Good cybersecurity practices can protect you from threats and breaches.

Check-in Regularly

Finally, make sure that you are checking in regularly with each of your employees. This doesn’t have to be through a formal meeting or discussion. It could consist of a quick message or phone call. Many employees start to feel a little bit disconnected from each other when they work remotely, and it can feel quite overwhelming at the beginning. If you check in regularly with each of your employees to make sure that they’re doing alright, you’ll be able to answer any questions or concerns that they might have. This will help your entire team to work better, both individually and together.

So, if you’re starting to have a remote workforce, keep these tips in mind to get your team working effectively and successfully. Remember to set standards for communicating, teach good cybersecurity practices, and check in regularly with your employees. Soon enough, you’ll be reaping the benefits of having a functional remote workforce.

Check out this article on how to maintain your company app!

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Potential Red Flags to Look for in the Hiring Process

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Hiring people for your business can be a tricky task. You need employees, of course, but you also need to make sure you get the best employees possible – ones who will work reasonably hard and stick around. Here are some things to look out for when hiring.

They Show Up Late

Most employers aren’t happy anyways when their employee shows up late. In the absence of a good reason, it could mean that they don’t respect your schedule. At the worst, they are actively inconveniencing the other workers and customers and hurting your business directly. It should be noted that it would be smart for you to be empathetic. Being late once or twice is not the end of the world. Treat your employees as humans, who can’t control every circumstance and need understanding. However: an employee who is late for every single shift means that they likely do not have the right attitude to merit their working at your business.

They Have a Criminal Record

This one is especially hard to figure out. The problem is that criminal records can mean many things. It can mean that they are a bad person, who feels inclined to commit crime for whatever reason. It may mean that they used to feel like that when they were young and now feel remorse. It may mean that they made a stupid mistake as a younger person, and it now follows them everywhere. It may mean that they used recreational drugs a grand total of once. It may mean a lot of things, and somebody simply having a criminal record should not be reason enough to necessarily eliminate them immediately. If you’re unsure, references can help you feel more comfortable with a hire if they have a criminal record.

Toxic Personalities

Nobody’s perfect. You also shouldn’t expect perfect employees. After all, this is a job and a professional environment. Your employees are working here because they’re being paid (although hopefully, they also enjoy being there to some degree). That being said, there are some kinds of people you need to steer clear of. People who are aggressively selfish and expect others to do more work. People who are manipulative and narcissistic. People who don’t work well in teams. People who don’t work well alone. The list goes on – so use the interview to get a good read on them before deciding.

Running a business is hard, no matter who you are. Dealing with the hiring and firing of personnel can be especially rough. But if you do your best to provide a compassionate, kind, hardworking business environment that engenders listening, your employees will follow suit.

Check out this article on how to avoid regrets when hiring for your company!

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What to Know Before Spending Money on Product Development

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Product development, while important for your business, can be expensive. For this reason, it is important that you do your research before you begin. Before spending money on product development, you should create test products, know your market, and know your competitors.

Create Test Products

Creating test products can help you know if spending money on product development is worthwhile for your business. Product testing helps you analyze the features and functions of products and how customers would react to them. The process of testing products can happen in many stages. 

You could employ a waterfall methodology to test a product in the beginning stages to evaluate the concept. Then another product testing method would be used once the product is finished being built. An agile methodology can be employed for continual testing in each phase of development.

Know Your Market

Every business plan needs a market analysis describing your target market. It is essential to know your market because this is what will determine the success of your product and ultimately your business. Your market is comprised of organizations and groups that make up your customers or potential customers. 

You need to know your market so you know what they are looking for from your company and your products and services. Once you have your target market, you can begin your product development and have the assurance that your funds are being used wisely.

Research Your Competitors

Doing research on your competitors can tell you a lot about your market and how successful products are like the one you have in mind. Your competitors have been in the market and so they can give you valuable information. You can look at how your competitor markets, how much they charge, the position of their brand, and who their customers are. This information will tell you how to approach product development and how to create products that can differentiate you from your competitors. While you can’t create an exact replica of your competitor’s products, you can have an idea of what is doing well and create your own.

Product development is essential for your business. It is the way that you gain and maintain your customers which keeps your business successful. Because the process of product development is expensive and time-consuming, you need to do your research and constantly evaluate your product through each stage of development.

Did you enjoy reading this article? Here’s more to read: How to Maintain Your Company’s App

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How to Build Loyalty Among Your Salon Clients

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In a salon, you offer a variety of services that people may need regularly. You want to try and find ways to make sure people keep coming back to you for those services. Building customer loyalty can help your business to grow and find success.

Start a Rewards Program

A great option for increasing customer loyalty is to reward your customers for using your business. You can do this by creating a rewards program. These programs will look different from business to business, so you should create one that makes sense for you. For example, you can offer free products or even free services to customers when they refer people to your business or use services for a certain amount of time. You could also create a VIP program that customers can buy into in order to have access to beauty packages or services at a discounted price. You can get creative with your rewards program.

Offer Full Services

Not all salons offer every service available. When people enter these salons, they may be disappointed that the services they want aren’t offered and they will turn to other salons. If you want to invite people in and maintain your customer base, you should consider increasing your services. When you offer everything people are looking for, you can ensure they will come back wanting more. Keep in mind it will take work to provide all services. You’ll need the training to offer services like lash lifts and brow laminations. However, the effort is worth it because you can provide a better experience for your customers.

Create the Ideal Environment

When customers come to a salon, they don’t just want to have their services done and then be on their way. They expect a certain type of environment. They expect it to be luxurious and relaxing. If you want to maintain customers, you need to meet their expectations. You can create the ideal environment through your décor and the design of the salon. You should also consider the smells, the lighting, and the feeling in the room. Make an effort to create an environment your clients will appreciate.

Your customers are the lifeblood of your business. You should be doing everything you can in order to gain new customers and build loyalty among your current customers. Take some time to explore potential strategies until you find what works best for you.

Check out this article on what your business needs to stand out visually!

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Maintenance That’s Probably Long Overdue for Your Business

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It’s easy for business owners to put off routine maintenance tasks. In fact, many of us do it all the time! But when it comes to our businesses, this can be a costly mistake. Certain tasks should be done on a regular basis to keep your business running smoothly. Here are three of those tasks and a handful of tips to help you get them done efficiently.

Reviewing Your Books

It’s always a good idea to keep a close eye on your business’s finances, but it can be easy to let bookkeeping slide amid day-to-day operations. If it’s been a while since you’ve taken a close look at your books, now is the time to do it. Reviewing your financial statements can help you identify areas where you may be overspending, and it can also give you a better understanding of your overall financial health. This information can be invaluable as you make decisions about your business’s future. So don’t procrastinate any longer – get those books in order!

Software Updates

Updating your software can improve security and introduce new features for your business. Did that lose you? Let’s try again. Outdated software is dangerous! It’s like leaving your front door unlocked – a recipe for disaster. By updating your software, you’re adding an extra layer of protection against hackers and other online threats. And, as an added bonus, you may also gain access to new features and improved functionality. So don’t delay – get those software updates done today.

Renewing Licenses and Permits

Every business needs to stay up-to-date on its licenses and permits. Depending on the type of business, there may be different licenses and permits required. Keeping track of these can be daunting, but it is important to make sure that they are renewed on time. If not, the business could face some serious consequences. Not only would they be breaking the law, but they could also be fined or shut down. To avoid this, it is crucial to have a system in place for renewing licenses and permits. This might include setting reminders or keeping a running list of expiration dates. However, you choose to do it, staying on top of this task will help keep your business running smoothly.

There you have it – three essential maintenance tasks for your business. By staying on top of these tasks, you can avoid costly mistakes and keep your business running smoothly. So don’t delay – get started today!

Check out this article on how to avoid regrets when hiring for your company!

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How to Prepare to Hold Your Annual Corporate Event

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No matter what industry you work in or what business you work for, there is almost certainly an annual corporate event that takes place every year. These events have the potential to be a blast and to increase productivity, boost skills and education, and help connect your business in ways you never imagined. ON the other hand, corporate events can also be quite boring, pointless, and downright painful for attendees. It all comes down to your planning abilities. Here are three steps to help you prepare to hold your annual corporate event.

Choose a Venue

The first thing that you have to do to prepare to hold your annual corporate event is to choose a venue. The venue that you choose sets the stage for your event. You can host a large conference-type event in a conference center, depending on the size. But if you want to go for something a bit more unique, you can consider different areas like outdoor spaces. When choosing a venue, be sure to factor in location, seating, staffing, and security, as well as the necessary technological features and/or amenities that you need for your particular event.

Delegate the Planning

The next step to help you prepare to hold your annual corporate event is to delegate the planning as best you can. There are a lot of details to iron out for your annual corporate event. If you try to take everything on yourself, you will burn out. Everything right down to the music needs planning. Music can affect the energy in the room. But handling all of these details yourself is too much. As soon as you can, start handing out different tasks to others who are best suited to handle those details. Meanwhile, you can focus on the major issues.

Stay Calm

The final thing you need to remember to prepare to hold your annual corporate event is to stay calm during the process. The planning for your annual corporate event is going to be stressful. It is totally normal to be anxious that it won’t come together. But remember that it always feels like this, and it will be okay. Just trust yourself and your team and you will all make it to the other side in one piece.

Throwing an annual corporate event is no small feat. It takes a lot of hard work and preparation to bring it all together. If you can handle these three things, you can hold your annual corporate event without a hitch.

Check out this article on how to revamp your company benefits!

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