Category: Content

Suppliers are your friends! Based on your position in the company, they might be your critical friend. A supply chain can be highly updated or remain stagnant depending on the relationship without vendors. If your suppliers are rough, do not worry about modern technology trends; little communication can find a way. With improper supplier communication, defaulted parts will ship, and deadlines are missed, resulting in a lack of business and missed targets.

According to Statista, the global worth of supply chain management has doubled over the last decade, indicating the significance of the supply chain in the current global economy. We live in a hyper-interconnected business world, where multitudes of businesses operate in different demographics. Supply chain management ensures a stable network and strong connection for smooth economic coordination. A well-thought-out supply chain management strategy benefits you with boosted customer service, reduced purchasing and production costs, and improved financial status.

Technology upgrading supply chain management dynamics has become a crucial element of business strategy. Where it adds to the customer value, the rapid technologization of the supply chain has raised customer expectations. Business organizations will constitute creative ways and technologized approaches to meet consumers; needs and requirements. With the global pandemic destroying economies and industries on the verge of complete collapse, the uncertainty about the future has intensified. The endemic is impacting the finance sector; it has re-emphasized the importance of digital supply chain management. Apart from current trends and technologies, little preparation for communication can solve suppliers’ issues.

Set Clear Expectations for Reporting and Supplier Communication

Each manufacturer has a place for reporting, supplier performance, and order management. Without reliability, so you will go a little crazy! But if your daily business faces shortage reports format to another or implements a supplier portal monthly, effectiveness and efficiency dive.

Make a clear plan for dealing with suppliers at the beginning of a new relationship. It guarantees an efficient business partnership with shortages, more on-time deliveries, few rushed shipping costs and fewer headaches. That is not to say there is a system for upgrades, but ensure your updates are accurate.

From the start, set a goal for the data you require from your suppliers. When you have that, give a reliable platform in which your supplier could conduct those goals. You must be able to communicate back and update status back and forth at a part level. It is for status updates that are easy to track and edit.

A perfect supplier communication tool can be a practical approach to operationalizing accurate communication. It must:

• Be readily available for everyone
• Features built-in collaboration tools, such as project comments.
• Be straightforward to get unaccustomed users up and running
• Allow for traceable and direct communication 
• Have all the essential data that both parties need to see.
• Let you all roll up outcomes to see business worth among all suppliers.

Be Respectful of a Deadline

When you become prepared in your supplier communication, you efficiently boost your ability to be concise. Why send long paragraphs of emails when a five-sentence message will do? If you have all your ducks properly, you can immediately communicate your queries with unnecessary detail.

Your vendors supply parts to different customers, meaning they have daily emails and calls to deal with. They will love you if you just come to the point! When your supplier understands you are easy to work with, you can bet that your message will discover their path to the top of the pile.

One of the legendary basketball coaches, John Wooden, said,

“Be quick, but don’t be in a hurry.”

He wanted his team to play a fast-paced game but never be out of control. 

The supply chain is also a fast-paced game. If you crawl, you just cost your business money and time. However, if you go too rapidly, you could also experience a negative outcome.

Hurrying might cause you to place inappropriate orders or ignore critical details. Inventory shortages or spikes are less dangerous once you can hurry by avoiding rushing.

Bottom line

There are ways to lessen the gap between the supplier and the organization, but communication is among the most effective. Maintaining a good relationship with the supplier will avoid shortages or late delivery complaints. 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Project Management Meetings: Types and Tips

A project meeting is an excellent way to keep the team informed of what is happening. Project management meetings help stakeholders catch up with internal developments while the internal teams can get exposure to organization-wide changes and implementations. Productive, organized project meetings are the epitome of a project manager that reflects these same qualities. 

A systematic project meeting has a proper agenda for the meeting, discussing the shortcomings and strengths of the process so far. This way, teams can collectively value each other’s time and efforts.

Types of Project Management Meetings

Of course, once the project starts – or even before it does – you will have several things to highlight or bring to the attention of the relevant parties. Knowing the type of meeting to hold can typically help streamline this process. Once you have a project coming your way, the leader’s job is to break down the task and introduce the team to it. Teams can hold several types of meetings according to the project and team needs. 

1. Project kick-off meetings
2. Regular team meetings
3. Stakeholders’ meetings 
4. Contingency meetings
5. Status review meetings
6. Project review meetings

The underlying details to be covered in each meeting are: 

• Status updates are communicated and timely reported to stakeholders 
• Assignments and responsibilities are outlined and adequately defined 
• Task delegation is done precisely for each team 
• Business processes are highlighted and explained to each party involved

Regardless of the meeting, project managers must ensure that they communicate with each party involved. Identifying when to organize the conference and what kind of meeting is required are critical qualities of a project manager.

Project kick-off meeting

A kick-off meeting is an introductory meeting where all department members are introduced to each other, keeping in mind their designations, connection with the project, and core competence. The point of this meeting is also to delegate tasks and help with team building. Each member should know who to go to when struggling with a particular task. Typically, a project kick-off meeting flows as follows: 

• The introduction of team members helps the team members bond and get to know each other.
• Discussing client and project information: introducing the client to the internal teams, examining the nature of the project, the industry, specific requirements, et cetera 
• Project timelines: communicate what the client expects in terms of delivery of the project, updates, budget, and so on 
• Delegation of tasks: Letting the team know how you will complete the charges, who is responsible for what, and who must achieve specific objectives 
• Preparing: This is often known as planning; this process helps align internal teams with client expectations.
• Q&A sessions: Allowing your team to ask questions and address their concerns to get started on the project. 

Regular team meetings

These meetings can be daily, weekly, or monthly, as the teams internally decide upon their convenience. Regular team meetings are the most common type of project management meetings where teams catch up and discuss problems and queries as they occur during the project’s lifecycle. 

Stakeholders’ meetings 

Stakeholder support and approval are essential to keep progressing with a particular project. Meeting up with stakeholders helps maintain interest in the project. Project managers often provide complete project updates to a few of the most significant people in the company and ease communication and the project’s status. 

Contingency meetings 

Even after spending several days planning and preparing every bit of the project and its flow, project managers must prepare for sudden changes in the plan. It is expected to take a new path once the project starts, as long as you plan to keep up with these changes. Project managers should think of alternative plans just in case such contingencies occur.

Status review meetings 

Status review meetings are straightforward. They are held with the schedule to update all teams on the project status. The project manager takes all the teams through the performance levels of the project and the progress of the tasks, analyses information on the project, and highlights where the team’s shortcomings/strengths lie. 

Project review meetings

In a final project review meeting, teams assemble and review their weaknesses and strengths. This review meeting puts things in a realistic perspective compared to where the group began. It will help the project manager and the team lead to analyze the team in real time and find ways to improve the skill and capability levels of the members involved. 

In a nutshell, project management meetings are all about planning, organizing, leading, and mainstreaming the different tasks in a project and the people involved. Being precise when holding meetings will help everyone involved address their concerns adequately while ensuring that each department has the proper jobs to work on. 

Effective planning helps companies save on essential resources such as time, effort, and, most importantly, money because that is the organization’s goal. Project managers are responsible for team collaboration, taking the team smoothly from the beginning to the end of the project, thanks to project management meetings. From introductory sessions to project review meetings, everything is defined, documented, and discussed thoroughly at intervals when needed to ensure all bottlenecks can be addressed as they occur. 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When it comes to money, most need help managing it. To have an adequate budget, a debt-free life, and financial freedom, you must understand expenses and where your money is going. Understanding your costs, non-essential spending, and where you can reduce expenses can lead to the financial freedom every financially responsible person hopes to achieve. 

To get a complete picture of where your money is going each month and an understanding of the expenses, you must create a budget. Generally, a budget is monthly. However, it is suggested that you also have a yearly budget with financial goals in addition to your monthly budget. Here is everything you need to know about creating a realistic budget.

Spending Categories

First, you need to establish spending categories according to the expenses and payments you know you will have. These categories include your mortgage or rent, insurance, gas, electricity, water, phones, Internet, gasoline, maintenance of the car, credits and miscellaneous payments, food, clothing, school supplies, leisure, health, personal care, and everything you know that you must pay, as well as a section that you will add and that you will call unexpected expenses.

Unexpected Expenses

To this section, you will assign a small amount (for example, $50 per month) that you will leave behind for any expenses not included in your spending plan.

Some of these expenses are known in advance, and others are not. During the seconds, you will try to make a forecast as tight as possible, always trying not to be optimistic (do not expect excessive payments to the downside). You will be prudent, and it will be better to calculate higher costs that later turn out to be lower than expected rather than to fall short in your spending forecasts.

Minimum Expenses

You can also establish for other expenses, such as food or clothing, a minimum that does not mean losing your quality of life; that is enough to live well, but you will try not to exceed (for example, you can put a limit on food that does not involve buying little food but avoid unnecessary whims or expensive brand products).

Expenses Vs. Income

Once established, the forecast of expenses increases by 10%, and you will confront it with your income. As often happens, there will be no significant problem if they are known beforehand.

If your income is variable, you will also make a forecast here. But to be prudent, if you do not know your income with the security, you will sin of pessimism and put a restrained amount. One method could be to use the average of the last twelve months unless you have more data that allows us in advance to know the amount that you will charge approximately (for example, someone who charges by commissions will understand if that month is selling much or minor). With experience, it will be easier to make the spending plan and adjust the forecasts more.

More Income Thank Expenses

If the income is higher than the expected expenses, you will have a surplus of money, which, if the forecast is well made and covers all costs, you can allocate to reduce your debts and credits. If you did not take control of payments, it is money that you would certainly spend on other unnecessary things.

More Expenses Than Income

If, on the contrary, the income is less than the expenses, you will have to reduce some expendable costs, such as the telephone, Internet, clothes, etc. You will have to spend less to balance the spending plan. 

If this situation were repeated several months in a row, it would be a good time to rethink your position and move to take deeper measures, such as rent instead of paying a mortgage, changing jobs to get a better income, trying to reduce consumption, etc.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

It is a constant; uncertainties will always lie ahead. With COVID, the year was full of sadness, financial troubles, and a lack of medical resources; we do not know what the future will hold. But it does tell us one thing: opportunities await us.

Let us look at it this way. We did not know that remote working would be this successful. Furthermore, we did not realize the true extent of eCommerce in business. But we pulled off both those endeavors with excellence. The statistics show the same. Similar is the case for joint ventures. Of course, concerned parties must take innovative and strategic steps to maintain a steady relationship with all of them. But before we finalize joint venture partnerships, let us look at probable unknowns.

What is a Joint Venture?

JV is a strategic partnership with two or more parties who provide capital goods and services through a mutually controlled commercial project. However, there will always be uncertainties, like COVID-19, that can cause JVs to have severe issues. A JV can be a single recipe for disaster, from concurring losses to decision-making deadlocks.

Joint Ventures vs. Partnerships

At a glance, a joint venture seems like a partnership. But, legally, both those entities are quite different. Using the strategic alliance concept, there is no ownership exchange between the involved parties. The ideal difference between a partnership and a joint venture is that the parties involved in a JV have joined hands for a particular project. On the other hand, the partnership members work together to achieve business success. Furthermore, each joint venture member retains ownership of their part of the property. Moreover, each member shares the expenses of a particular project or venture.

New Market Penetration

Want to know the best part of Joint Ventures? A joint venture enables companies to access a new market almost immediately. A joint venture can be quite fruitful even with the relevant regulations and organization. Companies present at one location with those present at the other. Since they want to gain access to the marketplace currently in their counterpart’s place by fostering a joint venture to expand their product portfolio and market size, they will perform exceptionally well in the grandest stage.

Intellectual Property Gains

With technology at the pinnacle of its power, it is difficult for businesses to create operations in-house. To counteract such concerns, companies often join hands with technology-driven organizations, which can provide them with innovation, which is expensive to acquire for themselves. A large-scale organization with suitable financing and working capital can strengthen a joint venture with an organization with promise but lacking the required funding.

What to Consider Before Finalizing a Joint Venture?

• Due diligence: First and foremost, you need due diligence with a potential partner to ensure the business performs well. Before you enter into an agreement with another company for a JV, you must investigate your potential member(s) credentials, such as resource availability, property, and human capital.
• Financials: Let us be honest; what is more critical than financials? If your potential members do not have the financials to perform business-level operations, they are just a liability. Of course, in an ideal scenario, everything would be 50/50. However, that is not always true. Sometimes, joint ventures can become one-sided, and everything could end up in a rut.
• Cultural considerations: Businesses operate differently in different conditions. If any business is entering into a JV with a partner in any other region, they must understand how they work. From cultural differences to each party’s satisfaction within a JV, there are elements to ponder.

To Sum It Up

Nobody can be sure if we look at the uncertainties that lie in each new year. But one thing is certain. Joint ventures can still work. You must be strategically and operationally sound to excel within a JV. Also, do not forget to consider the abovementioned considerations before joining other businesses.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Banks are crucial intermediaries in what is known as a payment system, which leads an economy to exchange products and services for money or other financial assets. Additionally, those with excessive money want to store it in a bank rather than lend it to an individual and expect a valuable return and an interest rate. However, where does a bank secure its excess funds to avoid lending and hide it from government officials? 

Reserving cash piles in high-security vaults might sound like an old movie plot. Still, banks and insurers recently started considering this idea when the interest rate was minimized across Europe. Regardless of the economic charges, banks rarely deal with deficiency. Despite the lending of millions of dollars, banks are always flourishing. Banks are doing well because they have grasped the games of currency and finances. They were accumulating cash, which used to be an old trick. Banks alternatively store money when the interest rate lowers to prevent a massive blow. 

A fleeting time ago, European countries introduced the concept of a pessimistic interest rate. Interest occurs when banks resist lending money to the government while trying to defeat the credit crunch. They will end up costing more than the actual lending amount. The government gets compelled to push the lending agenda despite the credit crunch.

Why do Banks Store Cash Piles? 

 To avoid a negative interest rate, banks prioritize storing cash. When there is a risk of interest rates falling to the minimum, financial institutions fail to generate any profit on lending. Not making a profit is the point where these institutes stop lending because it can further damage the comprehensive economy. Years ago, the U.K. government tried to resolve this issue by making lending even more expensive. Later, banks determined that it would be feasible to store money, which meant hiding piles of cash. 

How European Banks Stored Cash Piles?

During the middle of 2016, European banks concealed millions of dollars to avoid lending due to the lowered interest rate. However, it might take you back to old action movies with villains securing their vast fortunes in secret caves. It might be daunting, but storing cash piles in the era of lower interest rates makes sense. Examine the facts of the European situation where private sector banks paid around 0.4% annual charges on the funds they owned. This policy costs them three billion euros within two years. On the contrary, the government introduced provocations to encourage lending for SMCs. The guidelines were nowhere in favor of the private sector. 

At that time, European highways did not have heavily guarded vehicles transporting cash piles to secret locations. So, banks found it easier to hide their funds in cash piles and later got them somewhere safe and away from government officials. 

Did the Lending Bank’s Strategies Work Out? 

At the time of occurrence, it was the most thoughtful way out. However, there was a lack of anticipation on the bank’s part. The administration of securing cash in copious amounts, escorted with labor costs, was not primarily considered, including transportation and storage. Even when businesses convinced banks to pay these costs, there was another obstacle to waiting. The insurers disapproved of preceding a more significant amount in complicated cash form. 

According to finance experts, the insurance cost used to be around 2% of the total amount of cash. It means that the total amount of cash piles was much higher than the interest rate the European Central Bank charged. This strategy did not work out as expected, proving that storing cash was not a safe gateway to success. 

 

Banks’ methods of assigning their cash piles chiefly depend on the central bank’s power. The central bank dedicates itself to ensuring a healthy economy for a nation. One of the ways the banks accomplish this goal is by controlling the total cash circulating in the economy. Their primary tools involve impacting interest rates, setting retain requirements, and appointing open market operation strategies, among other approaches. Having an accurate quantity of cash in circulation is pivotal to ensuring a sustainable and stable economy. 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Most financially responsible adults will experience some debt in their lifetime. Many purchases or pursuits require a large sum of money most do not have in cash or savings.

While it is ideal that you stay away from debt altogether, for the average person, this is not possible. Therefore, everyone should know how to deal with debt and get rid of it as quickly as possible. Here are some ways to get out of debt faster and enjoy financial freedom.

The Method of “Debt Snowball”

One of the fundamental aspects of controlling your money and personal finances is having no debts. And, if this is not possible, you must begin to finish them as soon as possible.

It is not a miraculous method. It is simply about organizing finances and creating and executing a plan. With dedication, you will be getting financial lung and reducing your loans.

Dave Ramsey, the author of “The Total Money Makeover” and other financial self-help books, speaks a lot about debt. He is an expert on debt relief because he experienced going from a billionaire to bankruptcy.

Here are seven steps Dave Ramsey recommends to help get you to financial freedom as quickly as possible:

• Save $1,000 fast to start your emergency “mattress.”
• Remove your debts with the “Snowball” Method, excluding the mortgage.
• Increase your emergency “mattress” to between 3 and 6 months of your expenses.
• Invest 15% of your income.
• Save for your children’s education.
• Pay off your home mortgage quickly.
• Build your wealth and give generously.

These methods are effective. However, it would be best if you kept in mind that you must first stop digging the financial hole you are in before you can rid yourself of the debt when it comes to debt. If you are still creating or expanding your debt, no amount of financial preparation will lead to a debt-free life.

You should also work at paying off debts well before they are due. While making on-time payments is commendable, taking the maximum time allotted to pay the debt back will be far more costly and prolong your time in debt.

Here are seven steps you can take to get on track and out of debt quickly:

• Commit yourself to pursuing a debt-free lifestyle and do whatever it takes, no matter how difficult.
• Work to increase your minimum payments by at least 5 to 10%, if not more, to pay off debts sooner.
• Collect information on all your loans and list ordering them from lowest to highest maturity.
• Set aside the extra or accelerator amount to cancel early, month by month, until you finish the debt that beats you in the first place.
• When you finish paying off the first debt on your list, add your payments, including the accelerator amount, to your next debt.
• Repeat the process until you get rid of your debts completely
• Once you have paid off all your debt using this method, continue to pay the amount to a savings account since you will be accustomed to paying the amount towards your debt.

Conclusion

Most people who experience debt can handle it decently, but many others lose control of their debt and get into further debt, trying to dig out of the hole. You must stay out of debt as much as possible or pay it down quickly when you have no choice but to go into debt.

Generally, debt will be a part of most people’s financial life. Therefore, everyone with debt should understand how to handle it so as not to let it overtake their life. Once debt gets out of hand, it can cause stress and financial strain for years.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The global pandemic has forced us to relinquish control of our lives. Not necessarily in a negative, though, because now you can pave the way for your business talent. Fresh graduates and most people otherwise have had to adapt to changing technology much quicker than any of us would have thought. Conference rooms have become Zoom meetings, while homes have become the new workspaces.

The New Normal and Your Business Talent

The funny thing about people who have the vision to keep moving is that they will creep through the cracks of tough breaks to get through. And they have shown the world their ability to get through rugged, high walls like COVID-19. Behind screens and forced to take the mic, you must let your talent flow through speakerphones with the same charisma, or even more, to get your most prominent talent flowing. 

Leaders everywhere have the task of scraping through display monitors and pulling out their best-performing employees to go the extra mile to keep up in a world that has practically shut off. Once again, managers and top management can create mobile teams to achieve strategies for 2021 after experimenting in a turbulent 2020. But again, none of this will be possible if the employees’ talent cannot be seen across a computer screen. 

Your business talent is the aspect of you that gives you an edge over your other peers. Mastering the technique of honing your talent can put you ahead of everyone, giving you a leadership position, or you can choose to follow and contribute. And given the spectrum of everyone’s abilities, it is entirely normal. 

The role of the leader comes with many responsibilities. You must be a good listener, make tough decisions, envision long-term business goals, and be authentic with all your choices, allowing others to come forward with their ideas. It is an exciting challenge.

Leadership in Today’s World

Consider the job of a leader as the one who dives headfirst into unchartered territory. You will not only be taking risks – calculated – but also making decisions that not all members of your team are in favor of. And that is okay. Being a leader means inspiring, aspiring, influencing, and dealing with the consequences of your actions and those of your team. 

Your success in the workplace lies in knowing the talent experience of your business, its core competency, skill level from the top tier to the bottom, and the work environment.

• Change the way you operate

Considering the pandemic, things have changed from how we live to how we work. This is not surprising, though. Similarly, leaders must ensure that the organizational structure and culture are according to the needs of the hour. Workplaces have become versatile, and so should your strategy. New flexible plans, adaptable plans, and agile people will help you transform your business talent into the new normal healthily. 

• Renew teams and their talent

There will always be individuals in your team who will find it challenging to adapt and keep up with changing technology. Everyone in your group has diverse skills, which come with shortcomings and strengths. Your role as a leader is to keep everyone motivated enough to learn and adapt to the company’s changes. 

Imagine losing your top content person because they have difficulty with a new management system to check daily. Would you rather spend extra hours training that person or invest additional time hiring a replacement? It makes no sense. You are as strong as your weakest teammate. If everyone is trying, there is always room for adaptability and cultivating your organizational goals successfully.

• Invest in improving team engagement

Higher team engagement will help bring out common problems, mutual agreements, and better brainstorming ideas. Collaboration and teamwork have been known to bring about better results for businesses, allowing team members to work and compensate in areas the other person lacks. 

Engagement also helps members volunteer to take on roles they are naturally good at, so leaders do not always have to worry about inter-team task delegation. Frequent communication improves performance by incessantly getting things out in the open. Knowing the strengths and weaknesses of team members can also help leaders decide who to delegate to as projects arise in the future. 

Your Business Talent and The Future

When things get overwhelming as a leader, it is best to take a step back, breathe, and trust the process. Your business talent will manifest naturally, given teams inspired and ready to transform external factors affecting the business. 

As a leader, you should create teams that will flow, challenge, and face contingencies head-on. Give your team and its members time to grow, adapt, and learn through new structures, cultures, and strategies. Use the changing business environment to build an organization that will not falter inside out. 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Does one plan to be successful? What if you had the perfect plan or a book with all the necessary guidelines? Well, we can only wish that were possible. If you study those who have genuinely achieved different success levels, you will know that they did something more than planning to succeed.

Due to COVID-19, sales took a significant hit last year. The pandemic created financial instability for businesses. According to a survey, more than 25% of small companies went out of business because of the novel coronavirus. The travel and food industries are still suffering the most.

How we conducted business before the COVID outbreak does not work anymore. New strategies and innovative ideas are being developed to make customers feel welcome after so long.

Here are ways to improve your sales once you join work after the pandemic.

Improve Your Customer Relationship

Here are tips you can use to improve customer relationships:

• Use social media platforms and toll-free numbers so that customers can reach out to you when they want to.
• Offer more services and products and make delivery accessible or at least affordable.
• Keep the customers happy by hearing them out.
• Keep updating your website to improve relationships with existing and new customers.

Improve Your Social Media Strategies

Social media is a salvation for so many people these days. You do not have to run advertisements on them if you only post meaningful content, which is also appealing. Here are tips you can follow:

• Make sure the captions are engaging and well-thought
• Post-quality content. Do not over-promote anything; keep your posts relevant.
• Ensure your customers know what measures you are taking so that all the products are safe.

Improve Your Emails

People ignore this, but email marketing is one of the most effective sales methods. However, that does not mean you should expect sales to come in through emails. It is just another way to improve your relationship with your clients.

Just be kind to your employees, other businesses, and, of course, your clients. Since innovation is the key, remember you improve your sales only by enhancing your clients’ relationships.

Here are tips and solid ideas that you can adopt to become a successful salesperson

• Prepare ahead of time and identify and stick to your buyer personas.
• Know your product, understand it, and study it before pitching it to the customers.
• Find shortcuts and hacks. Work smart, not hard.
• Practice active listening. You must be a good listener to understand the person you seek and help accordingly.
• Use a measurable, repeatable sales process.
• Personalize your message. Add points and your own experiences so that your customer relates.
• Shadow your peers. Always learn from their achievements and mistakes.
• Be a collaborator.
• Be honest and know when you walk away.
• Be there to help resolve the customer’s issue rather than forcing them into things they do not need. That would lead to an unsatisfied customer. Create the need.
• Also, focus on basic things that will give you peace of mind. Get eight or more hours of sleep and believe in what you are selling. This way, you will be more confident with your words and appreciate your job.

Overall

The key to success is to pay attention to goals, not the obstacles – No one in this world has experienced success without barriers. Einstein was thought to be autistic and unable to learn. Roger Bannister broke records by running a 4-minute mile while no one had done that before.

Believe in yourself and work hard to earn success – You must believe you are great and destined for greatness. So, if you work hard, success will come your way. Nothing can be permitted to stand in your way as you pursue success.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Candidate experience endorses the recruitment process of any company. Potential employees judge a company based on the hiring process and the professionalism that adds to the procedure.

 

A positive candidate experience will validate your company’s culture. Similarly, a negative experience will go against your company’s image and demotivate potential candidates to apply to your company. We have listed the top five tips in this blog to help you improve the candidate experience at online hiring events.

 

Assess Your Existing Candidate Experience

 

Analyze your current candidate experience before jumping on to the remote hiring process. Ensure to closely assess every interaction you have with your candidates in your onsite hiring process and decide whether it would be beneficial if replicated in the remote process or not.

 

Update your job offerings in a timely; remove any outdated job offerings. Anyone seeking a position already filled but listed vacant on your careers page may disappoint a job seeker who puts his time and energy into searching and applying for the job only to discover that the position is wrongly listed there.

 

Connect with the Candidate

 

Always remember that the online hiring event depends on how you host it. The amount of input that goes into betterment by you and your company decides your interest in hosting the candidate.

 

You can give real-world experience to your remote candidates by connecting them to the office environment so that they get comfortable and have an excellent interview experience. 

 

You may inspire job seekers by telling them more about your company and its employees via illustrations, graphs, and videos to let them connect and learn more about the company.

 

Engaging Online Interviews

 

The art of engaging the candidate in an intriguing interview offers a beneficial edge to the company. Conduct an ice-breaking session before you start asking questions of the candidate. 

 

In the case of a recorded interview, record yourself asking personalized questions rather than offering the candidate a written set of questions. Not only will it be more engaging, but it also gives clients a more customized experience.

 

Follow-up Communication

 

The worst thing that goes wrong with most recruiters is the ghosting after a candidate finishes his interviews. HR contacts the selected candidates to tell them about their selection and guide them through further procedures. However, they do not get the ones who do not pass the interview phase. 

 

Even sometimes, when the candidates approach HR for their results, they do not communicate with them. This habit damages the company’s reputation irreparably, so HR must avoid following this practice. 

 

Regardless of the result, HR should always follow up with the candidate. Tell him about the reasons behind their selection or rejection.

 

Remote Employee Onboarding

 

Onboarding is one of the essential parts of the hiring process that goes into a new hire’s excitement and content. This part is especially crucial for remote candidates, as onboarding lets them understand the company’s culture and devise a strategy to blend in.

 

Remote onboarding is more challenging than onsite onboarding, as it requires more documentation and has more stages and complications than the traditional onboarding experience. Ensure to introduce the new hires to their manager, team members, and relevant staff.

 

Onboarding does not end in a day; it may last from weeks to a month or two, depending on the candidate’s roles and other elements. Proper communication is necessary to eliminate roadblocks during onboarding if the candidate requires a training session. 

 

Conclusion

 

Online hiring events can be messy if not appropriately overseen and may lead to a company’s bad image. You may improve a candidate’s experience at an online hiring event by following the tips we shared in the blog and ensuring the candidates get a good impression of the company through its hiring process. A good hiring event leads to positive word of mouth, placing a company in the community’s good books.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Do you want to start an online business but don’t know the right e-commerce platform? A successful business needs a suitable medium to build its brand image and recognition among the online audience. There is a wide range of platforms that You can use for an online business launch. However, you must still choose a relevant platform to build your online reputation. We have compiled some of the best e-commerce platforms to help you choose the best one for your business.

Shopify

Shopify is one of the popular e-commerce platforms for varying business sizes. If you have a small business or are about to start from scratch, use this e-commerce platform. This platform contains a straightforward user interface that doesn’t require coding or IT skills to create an online store. Most businesses make online stores on Shopify because of its customizable features and easy interface.

Shopify deals with small and large businesses; therefore, you don’t need to switch to another platform for your business growth and expansion. You can upgrade your plans using the customize feature to meet your business needs. This e-commerce platform also gives you a wide range of website themes to make your website look appealing.

Shopify’s responsive design feature won’t disappoint your mobile audience and can adapt to any user device. So, whatever design you implement, you don’t need to adjust it for mobile users. Moreover, Shopify’s customer support team ensures a 24/7 service and resolves their customers’ problems in website creation.

Shopify also gives you relief in financial terms by not charging any transaction fees upon product sales from a website. Shopify also maximizes customer satisfaction through its fraud analysis feature that saves consumers and website owners from any fraud.  

To optimize your website, Shopify’s SEO experts always help you. Therefore, if you are looking for a user-friendly platform with a wide range of features, you must go for Shopify.

BigCommerce

BigCommerce also falls in the category of best e-commerce platforms for online business. Like Shopify, you can use it for small and large companies. This e-commerce platform contains a variety of tools that help in website building. You can also upsell your products by integrating social media into your website.

The BigCommerce platform makes it easier to sell products using other mediums and channels. BigCommerce platform allows you to build your storefronts on Amazon, eBay, and other sites. This platform will enable you to expand your online business by creating a brand image.

BigCommerce has a 24/7 customer support service to resolve clients’ issues quickly. You can also seek an expert’s advice in your website creation. Payment management and product shipping are relatively more straightforward through the BigCommerce platform. So, if you are looking for an e-commerce platform with greater flexibility, you must go for BigCommerce.

Selz

Selz falls under affordable platforms that efficiently drive results and contain pro and standard plans. The usual procedure is relatively straightforward and suitable for small or newly launched businesses. Like Shopify, Selz also includes a wide range of themes for website design. The theme feature lets you choose the best music to grab customers’ attention.

Its customer support team not only gives a 24/7 service but also conducts sessions to guide beginners. The platform has a user-friendly interface and doesn’t need any web designing and coding experience. The user-friendly options make the process of website creation relatively easier. Through customization features, you can make your website look appealing and eye-catching.

There is an additional drag-and-drop feature that helps in the creation of product pages. So, if you are searching for an affordable and user-friendly e-commerce platform, you must check out Selz.

Wix Commerce

Wix Commerce is a good platform if your online business has limited products. The platform allows website creation for small companies with around 50 different products. It’s much easier to use and helps beautify your website.

The drag-and-drop feature allows you to create product pages. You can add and remove the quality to include or exclude anything. Through this e-commerce platform, you can create customizable storefronts on other sites. Like the previously discussed websites, Wix Commerce also contains various themes that beautify your website.

You don’t need coding or web designing skills for your website created using this platform. Therefore, if your business is still in its infancy, you can use the Wix Commerce platform to make your website.  

In a nutshell, an appealing and eye-catching website helps scale up your online business. To make your website attractive, choose the right platform to increase traffic and lift your business. So, when you are going to choose an e-commerce platform for your business, choose wisely.

 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.