Motivation: 4 myths that you shouldn’t buy into

Once upon a time it was unheard of; motivation wasn’t really talked about by business leaders. Now, it’s one of the first words off the tip of their tongue and for a business to be successful in the modern-day world, they generally need to have a team whose motivation levels are up there with the best.

It is one of the reasons why online MBA degree programs have evolved and changed so much in content over the years. Previously, they may have focused on so-called “traditional” elements of leadership, with autocratic business styles historically preferred. Now, we have almost changed to an employee-first situation, where the views and opinions of workers are held in very high regard.

However, while there has been a change in culture when it comes to motivation in a lot of industries, there are still a lot of inaccuracies that are published about it. Through today’s post, we will hone in on some of these myths and tackle them for good.

“All employees are motivated primarily by money”

For a long time, this was the opinion held by a lot of business leaders. It was felt that the only way to motivate workers was to increase their salary.

However, over time, it was found that this only had short-term effects. Employees would be given a pay rise and might be motivated for a short period of time following this. As time progressed, these motivation levels relapsed, and they were back to square one. It might be regarded as an easy win for management, but it is not going to yield long-term results.

“All employees are motivated in the same way”

Hopefully, you already know that this is completely untrue. What works for one employee certainly isn’t guaranteed to do the same for another, and this is why a degree of personalization is required when dealing with your workers. One person might place a lot of emphasis on flexible working, while another might want a clear path to career riches. Finding out what makes your employees tick is crucial to your business.

“Employees aren’t bothered about recognition”

Next on the list is the recognition-factor. For a long time, it was speculated that employees didn’t really consider this a motivational factor. After all, they were enlisted to do a job, and that was the end of the matter.

However, various studies have concluded that being recognized by your employer is significant for a lot of workers. Whether this is simply verbally, or by a tangible reward, it can go a long way in making employees feel valued.

“Time wasting activities should be stamped out”

This final myth is still apparent in a lot of workplaces, with many businesses having a strict policy in relation to so-called timewasting activities such as surfing the internet during working hours.

From a motivational standpoint, it can work wonders though. It was found through studies at some high-profile institutes, including the University of Melbourne, that these sort of activities improve your workers’ concentration levels (and thus motivation).

Should it take up half of their day? Of course not. However, for say 20% of their working day, it can actually help out significantly.

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Leadership Development Academy: Why Every Company Needs One

No business market has ever remained static. As with everything in the world, markets constantly fluctuate because of many external reasons, and they often shift on a month to month basis. As it’s the case with every market, the talent market works in cycles too. It too constantly switches from the market being focused on employers to a market focused on employees, and that switch sometimes happens very quickly.

According to the latest statistics, the unemployment rate of the US has dropped to 3.7% in September of 2018, which is vastly different than to the 9.6% of September of 2009 when the Recession was still in effect.

Even though having a low unemployment rate is generally seen as a good thing, it can cause harmful effects to many employers, namely because there is a much smaller pool of potential candidates to choose from. There is a much smaller number of skilled candidates to pick from, and the number of candidates that lack the required skills is increased.

Considering the case and continuing trend of low unemployment rates, it’s becoming very necessary for companies to foster and develop talent internally. This means that businesses need to invest in their employees so that they have an increased chance of retaining them.

Kyle Porter, who is a CEO of SalesLoft, recently said that whenever a company loses an employee, it’s rarely the individual’s fault. Per his words, a company has to create an environment that the employees would prefer to work in, one that would allow them to grow and improve.

When the unemployment rates are higher and the market shifts its focus to employers, paychecks are the biggest driving force behind employee retention. But in today’s talent market, most businesses have to poach talent from other companies, simply because the talent pool has significantly dried up.

What can companies do?

Most business can do good to learn from the financial market. The best and most efficient investors usually get creative with how they play defense and offense on the market. Their goal becomes to lose less than the average or get the maximum possible return. This can be the best lesson companies can utilize to keep their talent pool steady.

If the market becomes increasingly defensive, as it’s currently doing, possibly the best move would be to play aggressively. Companies like Lippert Components, and their CEO Jason Lippert, have devised a very effective strategy to reduce the number of employee turnover and increase their talent pool. They focused on honing the leadership capabilities of their employees in a very direct and straightforward manner, and to create a company culture that would benefit every individual within its ranks.

With the creation of their leadership academy over a four year period, where they trained employees to become much better leaders, they reached excellent results. The employee turnover rate reduced to 30%, which is well below the industry standard, and they saw an increase in work application. All of this because the company realized that in order to be as efficient as possible they needed to create a culture that would nurture its employees.

Achim Neumann, President of A Neumann & Associates LLC, an M&A Advisory Firm in New Jersey says, “One of the core responsibilities of an employer is to develop and nurture the skills of their employees. It’s something that many employees have come to expect and for a good reason. That always leads to a much more efficient business or company.”

Every business and company can implement the same idea of a leadership academy. A budget like the one of Lippert Components isn’t required, because all it takes is the drive to improve. The business that strives to be as good as possible needs business leaders who will drive the company to gradual success over time. True success doesn’t come overnight, and there are three things that every business should be aware of:

  • Feedback is crucial – one of the worst offenses a leader can make is think they’re doing a fine job without any feedback. Employee feedback is something no business should skip out on, as it can create tons of potential situations for improvement.
  • Modernization – many businesses the world-over don’t modernize at the appropriate rate. This means to create valuable content with modern principles, instead of being stuck in a position where the content doesn’t feel relevant and fresh.
  • Learning and improvement – leadership is a skill that is learned by doing. Simply by focusing on learning as much as possible, a leader can create many opportunities for improvement for every individual in the business.
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Winners do know what is important to be successful 

If you look into a person’s behavior, his or her confidence level will be visible to yourself. If he or she is a decent person and have a good sense of reality, that person is good at his or her work. On the other hand, an unsuccessful person will act totally different than a successful one. Lack of experience and sense will be visible in that person’s head. So, it can be easily distinguishable between a winner and a loser. If you want to be a winner in any kind of profession, you have to think like a winner. In every step of the working process, you have to act like a winner. In this article, we are going to talk about thinking like a winner in the trading business.

The realistic expectation from trades

In the trading business, there is no chance of living in the imagination. The more you can come back to the reality is better for the health of trading. Because the markets are consistently changing and you cannot know about the future condition at any certain time, you have to approach a trade with a solid strategy. And when you have placed a trade, it may not bring any good outcome too. Because when your trades remain to live the price trends can change radically. So, if you live in imagination too much this kind of phenomenon will bother your confidence in trading business. And having good confidence and dedication to your business is really important for learning it properly. So, have the most amount of realistic thoughts about your trades and trading edge possible.

Keeping things organized

No matter which profession you chose, you must stay organized. All the successful people in Australia have a very organized lifestyle. They know how to give proper value to their time. Similarly, you must focus on discipline and keep things organized. Forex trading is a very sophisticated profession but once you understand the basic concept of trading, you can easily secure financial freedom. There is nothing to rush, the market will be always present. So trade with a stable mindset.

Management of risks per trade

If you have learned about the possible fate, it will be easy for you to tolerate this business. But, now you have to trade to make profits. Otherwise, what is the reason for being here? Speaking of making profits, you have to control your investment. For those people who don’t understand the relationship between making profits and controlling risks, let us explain it to you. If you invest in a trade with a good amount of money, the expectation of it will be big. So, you will keep your trade open for a longer time. But, in that long timeframe, the condition of the market can go against your side. And eventually, you may end up losing the trade. And when the investment is big and you have kept it open for a long time, the losing amount will also be higher. In this case, the ‘stop-loss’ will also have a higher limit set by yourself.

Dealing properly with the environment

In this business, there will be a lot of roadblocks in your way to success. Even when you are running your profession with a decent speed, you may not experience good vibes from it. That is because you are not doing the right thing for being consistent in this business. You may be getting too much emotion in the working process. This is a common incident, traders fall in emotionally attached with trades they are making. That is because they have put money into those. And expecting some returns to come back from those. For that reason, traders get emotionally harassed with negative results and even with positive ones. For being a good trader you should avoid this mentality and concentrate on the real work.

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Ready to Start a Business? Step 1: Hire an Expert Leadership Coach

Until 20 years ago, leadership coaching or executive coaching was viewed as a necessity for faltering business owners. But, in recent times, more and more entrepreneurs getting ready to start a business prefer to hire the services of a leadership coach. They are open to enlisting the help of an expert to help them create a sounder platform on which to build their new enterprise.

But, will this move do them any good? According to the Forbes magazine, corporate giants like Google, GE, and Goldman Sachs have allocated a budget of $1 billion each year towards leadership coaching. Further, statistics gathered by the PriceWaterhouseCoopers and the Association Resource Center clearly indicate that this simple move can help businesses earn profits worth 10 to 49 times their original investment. So, if you’re ready to build a successful business, one of the first moves you may want to make is to hire a leadership coach.

What Exactly is a Leadership Coach?

Executive coaches are very different from mentors. They follow a carefully-designed schedule, stepping in from time to time helping their clients to make the right decisions. Like expert business coach, Arman Sadeghi at Titanium Success reveals, a coach will not tell you, the entrepreneur, how to start a business. He is not there to give you advice. On the contrary, he asks you a series of questions intended to realize your full potential so YOU can make the right choices. With the help of the coach, you can develop the essential soft skills you need to start a business and make a long-term success of it.

But, Why Choose a Coach?

Magdalena N Mook is the CEO & Executive Director at the International Coach Federation (ICF) that has 26,000 members operating across the world. She tells the Entrepreneur magazine, “What coaching can offer, it’s not telling people what to do, which entrepreneur will listen anyway, it’s really being a partner in the process. I think this is exactly what makes coaching even more prompt to be adopted by the entrepreneur. Because it is partnership and not mentorship or consulting, it’s helping the entrepreneurs to find responses in their own ways to whatever they want to accomplish.”

Accordingly, here are some of the areas where you’ll receive assistance:

  • Planning your business strategies and sounding out ideas
  • Developing the essential confidence in your project and conviction to make it materialize
  • Training yourself to maintain focus on your goals
  • Getting the necessary support and being accountable for your projected milestones
  • Putting together a skilled team and managing it to help you achieve the company’s objectives

1. To Start a Business, You Need More than a Great Idea

Starting a business with a great product or service idea is just the beginning. To make it a reality, you need to raise the necessary finances by pitching your ideas to financiers and potential business partners. You’ll also need expert portfolio teams that can help you with the other aspects of your business. These facets typically include production processes, advertising and marketing, sales, delivering goods, customer care, sorting through legal nuances, and much more. To get the right personnel together, you’ll need the assistance of an expert leadership coach.

2. Executive Coaches Help You Institute a Favorable Work Culture

When you’re ready to start a business, it is highly essential that you set the tone of the work culture and ethics of the company early on. And, the one person to create that persona and impression for the company is you. The team working with you will emulate and follow your leadership when it comes to dealing with vendors, customers, and other stakeholders of the company. Given that a positive attitude can make a difference between success and failure, work with your executive coach to learn how to institute the right culture in your company.

3. Leadership Coaches Make You an Efficient Team Manager

Simply having a great team and right mix of skills and talents to start a business is not enough. You must know how to coordinate their efforts to keep the company functioning smoothly. While working hard to grow your company is essential, you must keep in touch with your people. Involve your workforce in the vision you have for the future of the company, and how you hope to achieve the objectives you have planned. Welcome feedback and ideas for future growth since your team works in close contact with vendors and customers on the ground level and has a better understanding of what the market wants. Need to understand better how that can work? Check out this article released by NBC News.

4. You Need Guidance to Build a Lasting Company

As long as your company is in its fledgling stage with just a few employees and you running operations as a manager, dealing with the challenges is easy. But, as the enterprise grows and you’re ready to go public, you’ll need the advanced guidance needed to act as CEO. You may not have the skills and expertise needed to deal with growth equity, venture capital, and the other intricacies of the corporate world. That’s where the executive coach steps in – to guide you in the right direction, so you can make a success of the company and watch it grow over the years. Most importantly, you need the business coach to help you assess if your business is stable enough to begin expansion.

5. Understand that an Evolving Business is a Successful Business

To ensure the lasting success of your business, you need to keep your finger on the pulse of the market and evolve according to changing market trends and consumer expectations. Rely on the expertise of your business coach to help you steer the company in the right direction to keep pace with change. Like the folks at BizJournals explain, lack of flexibility can spell disaster for your enterprise.

In a fiercely competitive world, understanding how to start a business and make a success of it is a significant challenge as it is. But, with the assistance of a qualified and trained business coach, you can overcome the snags and understand how to avoid potential pitfalls. Design success for your business from the onset and watch it reach the 10-year and then, 15-year success mark.

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Are Competitors Beating You to the Punch with Marketing and Advertising?

How well would you say your marketing and advertising efforts are going these days?

For some business owners, their efforts could be playing out much better.

If your competition is beating you to the punch on marketing and advertising, how do you plan to turn it around? And as importantly, when do you plan to do this?

Remember, each day that goes by where your competitors have the upper-hand, you can lose ground.

So, is it time to act starting now?

Take Action to Stay Competitive

In your efforts to stay competitive, start by assessing current conditions.

Among the questions you want to be able to answer:

· Am I doing enough to market and advertise my brand?

· What are my immediate competitors doing that seems to work for them?

· What are the demographics with my business? Knowing this is key so you have the right products and services for select ages and genders.

· Have I been too absent when it comes to social media?

While there are other questions you should be able to answer, start with those and go from there.

Once you’ve decided that action is needed on one or more fronts, do you do it on your own or reach outside for help?

If doing the latter, have you thought about LED signage?

As more businesses have discovered over time, LED signs can make an impact on how successful one’s brand can be.

So, if some of your closest competitors are using such signage, don’t you think you should consider this too?

If you said yes, you can search online. Also go through word-of-mouth referrals to see which signage best suits your needs.

Whether you end up with www.megasigninc.com or another provider, know the benefits you will get in return.

Among them:

· Greatest exposure for your brand

· Being seen during the day and at night

· Prime locations around town where consumers can’t help but notice your brand

With the right LED signage, you can add some punch to your marketing and advertising efforts.

Don’t Forget How Important Referrals Are

As important as signs and other promotional methods are, never lose sight of one thing. Yes, that would be your customers.

Your customers can do wonders for your business image. As a result, put them to work where and when it is appropriate.

An example of this would be via customer testimonials.

If you have a customer stating how happy they are with what you provided them, will they give you a little plug? In the event they will, take advantage of it.

A customer testimonial can go a long way in bringing you more business and added revenue.

Use testimonials on your website, in promotional brochures, on TV, and newspaper ads.

When customers go to bat for your brand, you win.

So, if competitors have been beating you to the punch in promotions, is it not time to turn this around?

If you fail to address any issues you are having with where your marketing dollars go, you may look back with regrets one day on not having done enough.

With that in mind, do not be that business owner.

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Why You Need to Know the Difference Between FEIN and Tax ID

Essentially, a FEIN and a tax ID number are the same. It is important to learn the small differences between the two so that you know what to do for your business or an entity such as a trust. When filing for a Trust tax ID Number or FEIN, knowing what each is for helps you to make the right decision when filing. The experienced associates at IRS-EIN-Tax-ID can help. 

A FEIN is a Federal Employee Identification Number and an EIN is an Employee Identification Number. Both numbers can be used to identify a business. The federal government does not recognize a FEIN and this number would not be used for federal tax filing. 

Small businesses will need to apply for a FEIN-EIN whether they have employees, or they do not. Having this number helps to avoid identify theft and protect the privacy of the business. 

To be able to report taxes to the IRS, a business must have a tax ID number. When you are the business owner, it is important to file for a tax ID or EIN to have this nine-digit identification number as it is required. A business also needs this number to be able to get a bank account or apply for credit for the business. 

The filing is easy when you take advantage of online service options. An application for an EIN can be completed online via IRS-EIN-Tax-ID.com. At the site, easily find the application for your business needs and fill out the appropriate paperwork. Once completed, you will need to hit the submit button. 

After your EIN has been assigned, the number will be emailed to you. Once you have the number, you will be ready for tax filing purposes as well as accessing lines of credit for your business, opening a checking account and more. 

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Building a successful marketing strategy for your ecommerce website

Starting your own ecommerce site used to be something you would do once you had already come up with the products that you are selling. However, nowadays, it is an essential early step to take if you want to maximize your sales and reach as many people as possible. Customers are used to services such as Amazon and they expect you to have your own site. However, once you have your ecommerce site up and running, how can you get people to come to it? What you need is a successful marketing strategy.

Have plentiful content

Your site needs content as well as products. Your homepage, your product category and product pages all need plentiful text content on them. This is because search engines consider sites with lots of useful, well-written and relevant content to be better than other sites – similar to how people view sites. Your homepage needs to tell people exactly what it is that you sell and why customers should buy from you instead of somewhere else. Your product pages need to explain the features of the product and how they will benefit the customer. You should aim for at least 300 words of content per page, where possible. If you sell hundreds of different products then this might be a tall order, so you should probably just concentrate on the main pages.

Produce interesting blog posts

As well as plentiful content for your pages, you also need to make sure that you have a regularly updated blog that is full of interesting posts. Search engines look favorably upon sites that add new pages relatively often. However, blog posts are also a great way to get people interested in your site and your company. Blog posts can be about anything you want. You could do a post about a new product that you have available on your site. You could write one about something industry related that you are an expert on. You could even interview an industry expert. Blog posts are also a chance for you to express yourself and get your company culture across.

Social media presence

Having a social media presence is an absolute must in 2018. When you start an ecommerce site from home, you are unlikely to have a particularly large following. This is where your existing social media profiles will come in. You will (hopefully) have some friends on Facebook, who might be interested in what you are selling. Set up a new profile for your brand and then share the page on your personal page to get interest started. After doing that, you can do posts on the brand profile about any new products or deals, or even link to your interesting blog posts.

The objective of your social media presence will be, ultimately, to get people to click onto your site and browse your products. However, you can also do other things to build your following on social media. Platforms such as Facebook, Twitter and Instagram are excellent for having conversations with your followers. Engage with your followers by replying to their questions, complaints and comments. You can ask their opinions about new products and deals and even run competitions for them.

Email marketing

Email may seem like ancient technology compared with social media but it is still an immensely important weapon in the digital marketing arsenal. It is hugely effective at reaching your audience in a more targeted way. Email marketing is not about spamming generic sales emails to anyone and everyone. Since spam is not the aim of the game, you need to be able to harvest people’s email addresses. Existing customers will have already given you their address when they signed up to buy from your site. You can get potential customers’ email addresses by encouraging them to subscribe to your blog.

Email marketing platforms will let you split your customer base into various demographics, based on stuff like whether they have signed up to your blog, what they have bought before and much more. This means that you can send them more personalized emails that will engage with them better. Valentino Vaschetto is an email marketing expert who works for advertising and marketing agency Iconic Industries. Valentino Vaschetto has a popular Vimeo that uses videos to explain all aspects of digital marketing to you.

Conclusion

Starting up a business from home has never been easier. Ecommerce and digital marketing allow you to direct customers to your shop where they can buy your products, all by using the internet.

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More than money: How to tempt the best employees on a shoestring budget

It would be fair to say that we are well and truly in the era of the start-up culture. Wherever you turn, start-ups are popping up everywhere, and there seems to be a story every day about the latest new business securing lucrative new funding.

However, not all of these start-ups can afford high salaries. At the same time, not all start-ups are going to receive lots of funding and as a result, can’t compete with salaries.

This is where creative minds need to enter the picture. Unfortunately for them, employees just aren’t going to choose them if they can’t offer them something else in return. It’s understood that a large proportion of start-ups fail in the first year, so jumping ship and joining one of these companies on a less-than attractive package just isn’t going to happen.

Following on from the above, let’s now take a look at some of the ways in which young businesses can reward employees, without paying huge salaries.

It’s the small things that matter

Let’s kick things off by highlighting that you don’t need to be giving twice the average annual leave, plus other ridiculous perks to join your company. Sometimes, it’s just the small things that count.

Building a good culture is something that can take time, but you can accelerate the process with small gestures. For example, employee holiday gifts might feel like a small token, but it’s something that still makes your employees head home for the festivities knowing that they are valued by their place of work. Small tricks like this can make the world of difference.

Gym memberships and wellness programs

This is something that has come into its own over the last few years and is regarded as very important by a lot of employees.

Companies have realized that the likes of gym memberships and wellness programs don’t just put a smile on their worker’s faces, but they can also make them healthier. Ultimately, the number of sick days should theoretically reduce.

As a company, you can tend to get discounted gym rates if you can promise that a set number of your workers will subscribe. For the employees themselves, they at least know that they are saving the best part of $50 a month – and this is something that they can link back to their salary.

Performance bonuses

This is largely going to depend on the type of industry you are involved in, but it goes without saying that lower salaries can be offset by performance bonuses. In the UK for example, Sports Direct is known for its low salaries, but at the same time it offers huge bonus pay-outs to all of its staff. Ultimately, this is something else that workers can factor into their decisions.

Flexible schedules

Finally, don’t underestimate the importance of flexibility. Recent studies have shown that more and more companies are encouraging their staff to work from home, and the effect it can have on morale is incredible.

Sure, this isn’t something that is applicable across all industries, but if you can manage it in yours you will prove to be a much more attractive proposition to potential employees.

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4 Tasks Every Small Business Owner Should Outsource

As a small business owner, you are used to wearing many hats and acting as a Jack of all trades. You likely know a little about a lot, and it’s no wonder why. Running a business requires initiative, skill and savviness. You certainly benefit from the support of your staff, but at the end of the day, you are the one running the show. It can be difficult to delegate tasks to others when you trust yourself the most, and it might be even more difficult to outsource portions of your operation and let go of control completely.

Part of being an effective manager, though, is knowing when to do exactly this. There are several tasks that every small business owner should outsource. Outsourcing can help you free up resources, focus on the essential aspects of your business and avoid errors by getting help from experts trained in the task at hand. The following are some of the processes that might benefit from outsourcing.

Marketing

You might think that your marketing skills are sufficient for promoting your business and attracting customers, but sufficient is not good enough. You work hard to sustain your small business and provide customers with the best service possible. It would be a shame for these efforts to reach only a portion of the market containing potential customers. Rather than do your business a disservice by managing the task of marketing all on your own, consider the benefits of outsourcing it to a company that specializes in small business marketing. This can be a great way to reach new customers.

Bookkeeping

Too many businesses are crippled by the consequences of poor bookkeeping. It is absolutely imperative that you keep track of all revenue, outgoing funds, taxes and payroll. Outsourcing bookkeeping and/or payroll can help you avoid many of the problems that small businesses often encounter with money. Even if you use software and other resources, small mistakes can have major repercussions, and this is a task best left to professionals who are experts in managing small business finances. Outsourcing can also eliminate the stress of spending hours each week managing the minutia of your company’s money.

Web Design

Just as many small business owners are capable of basic bookkeeping, many small business owners are capable of basic web design. When you settle for basic, though, you are doing your company a major disservice. Utilizing a professional website builder is the better option, and it can boost your business’ revenue substantially. Many customers find businesses online, and when your website does not represent your company effectively, you are losing potential sales. A website builder can ensure that potential customers are motivated to follow through. Web design and marketing for small businesses is best left to dedicated professionals.

Conversion

At the end of the day, your ultimate objective is to convert potential customers into loyal clients. Maximizing your conversion statistics demands the use of proven strategies and an effective approach. This means you must utilize marketing, web presence and customer service effectively. Conversion experts who specialize in small businesses can help you use all of these tools to boost profits and reach your target market effectively. A good sales pitch alone won’t do the trick, so it is important to enlist help from specialists when you want to get conversion rates that are worthwhile.

Outsourcing is an important part of running a small business. No matter what industry you are in, you should consider outsourcing these aspects of your company to experts and focusing on what you do best—running the day-to-day operations of your business. This can alleviate stress and free up your time, so do not hesitate to outsource when it becomes necessary.

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Why It’s Important For Small Business Owners To Outsource

As a small business owner you will know only too well about how overwhelming this position can be. There is a temptation in the early stages of your business to micro-manage every aspect of the company in order to save money and assert control. This however, is not a sustainable attitude and it is one which will leave you burned out, and the business in an unstable place. The key to surviving in business is learning how and when to outsource various aspects of the business, and here is why doing so is extremely important.

Focus

The biggest reason for a small business owner to outsource areas of their business is so that they can spend their time focussing on what they do best, which is running the business. For example let’s say that you are an excellent restauranteur who has just opened a French Bistro, how well do you think you are going to be able to focus on the restaurant itself, when you are getting bogged down in human resources stuff or the supply chain? The truth is that you cannot and the more time that you spend on areas of the business which don’t need you to be managing them, the less time you can spend on the areas which do require your attention.

Skill

Outsourcing is not just a time saver, it is also about letting experts take the reigns on certain parts of the business. For example let’s say that you start getting bogged down in bookkeeping and accounting for the business, in a effort to save some money. You may very well be able to work your way around the balance sheet, and use free budget templates to see the ins and outs of the business, but the time that it will take is likely to be double that of an expert in this field. The smart option is to outsource and area of the business such as accounting, in order to let the experts complete what for them, are very simple tasks, rather than you spending hours on such an activity.

Time

One thing which business owners want more than anything else is more time, something which is not easy to come by, especially in the early years. When you outsource an aspect fo the company however, one of the best returns on this investment is the gift of time which it will give you. Business owners need to be at their best at all times, so the additional hours in the day can help to keep you more focussed. As we have preciously mentioned, with this extra time you can focus on the right parts of the business where you can be effective, rather than the areas where you cannot.

The idea of outsourcing is to make the business more productive and more dynamic, to offer a higher standard in many aspect fo the company and ultimately to allow you to focus on the important stuff and not the minutiae.

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