Monthly Archives: February 2017

Nobody Wants To Work A 72-Hour Week, Not Even Entrepreneurs

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Justin Rattner once famously said that technology for the sake of technology is a waste of precious resources. It’s what we get out of it that counts. There’s no point companies investing their money on the latest computer equipment if it’s not making the life of the entrepreneur at least a little easier. And yet, many entrepreneurs think that the key to a successful startup is making sure that everybody in the office owns an iPad and the latest MacBook Air.

Here are some of the ways you can use tech to simplify your business and increase the time you have available to pursue new ideas.

Take Care Of Payroll And Insurance

Hiring a new person to your company is a legal and regulatory minefield. Many firms put off hiring new members of staff because it takes so much time. Others have to, and entrepreneurs spend many hours interviewing and collecting data on members of their team.

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Fortunately there are solutions, like JustWorks, that can automate things like payroll and benefits and insurance payments for colleagues. In a sense, the software acts like a traditional payroll service, but without the massive overhead of an entire department.

Speed Up Education

Learning a second language is fast becoming a necessity for the world’s international entrepreneurs. But the problem with traditional methods of learning a new language is that they can often take years. Now app companies like Smigin are investigating new ways of getting apps to teach people the basics of language. Instead of doing it how it is done in schools (which is boring, slow and ineffective over the long term) Smigin teaches language through interaction and games. The company behind the app says that they have found in their internal testing that gamification works a lot better than simple learning by rote.

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The system helps build a knowledge of by only teaching participants the basics of the language and how it is structured. It doesn’t go off and teach learners about random words, like the word for “carbuncle.” Instead, it helps them to say whatever they want to say, and then leaves them to flesh out the rest of the language through their own experience.

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Get Rid Of Paper Contracts

Keeping track of which paper contracts have just been signed and with whom can be difficult. What’s worse is not knowing when those contracts are up for renewal. Searching through filing cabinets and holding internal audits can take up a lot of valuable time – time that would be better spent elsewhere.

Pixabay

 

Now though, it is possible to get contract management software for any business which allows them to organize their contracts online and over the cloud. This has the potential to dramatically reduce labor costs, while also increasing accuracy. What’s more, it gives entrepreneurs much-needed insight and control over the contracts so that they are prepared when they need to renegotiate.

The ability for members of the team to collaborate on various contracts is important too. Often one member of the team will have insights and expertise that another does not.

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11 reasons to start a Software company that serves a niche

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A jack of all trades is usually the master of none. This is one extremely essential point which you should always have in mind in case you are looking forward to start a software company. Just so you are aware, in order to stay ahead of the competition, it is  essential that you approach the setting up of your company in the right way. One perfect way to do this is to consider starting a software company that serves a niche.

According to reports, setting up a business that serves a niche has proven to provide startups with an opportunity to launch successfully (this is something which you will most definitely need especially if you thinking of setting up a software company). In addition to the above, setting up a software company that serves a niche will also help make it easier to venture into major market segments in the rest of the world.

In case you are keen, you may have already noticed that many of the profitable and thriving businesses are usually those which serve a niche. Taking that into consideration, in the case of software development, below are 11 reasons you should seriously consider starting a software company that serves a niche. They include the fact that:

  1. You will be serving your target customers’ specific needs/interests – by being a niche software company, you will be able to properly serve or meet the interest of the particular sub segment of the market that you are targeting. You would be able to place emphasis on what it is that your customers value the most hence fostering growth.

  1. Compete favorably – just so you know, niche businesses are not entirely immune to competition particularly from large market players which access to a rather substantial resource base. Such being the case, in the face of stiff competition, your niche software company would be able to respond favorably for instance through the debut of higher quality products instead of resorting to cost cutting measures.

  1. Take care of employee welfare – you will be glad to learn that another common yet most notable trait of successful software niche companies is the fact that they are able to put in place labor relations and human resource policies which carter for the well being of staff hence focus is shifted towards fostering growth.

  1. Allows for the exploration of Growth Options – just so you know, once the niche software company would have grown, expect opportunities to come from a number of sources.

  1. E one would be free to join the company – by shifting focus to a particular niche not only would this allow you to join hands with other start ups, you will also have an opportunity to understand better e thing about their clients as well as their own businesses hence being able to make more informed decisions based on the data accessed as a result of this interaction.

  1. You won’t need to reinvent anything – as strange as it may sound, you would not need to focus on figuring out what has not yet been figured out by other successfully people who have ventured out on niche software companies.

  1. You will be able to provide cloud software provisions – a large majority of software companies usually provide custom software. This is extremely essential for you too when starting your software niche company since such provisions would allow you to come up with programs that would suit your exact necessities. Providing such will therefore help make you stand out.

  1. Communicative staff – according to reports, communicative staff is a highly coveted trait. You will be glad to learn that, you can easily achieve this having set up your own software niche company. This in the long run would help troubles shooting and possibly favorable management.

  1. Dedicated customer support – this will allow you to sort out your problems in a professional and timely manner, keep in mind, there are certain vital technical problems which you would never handle on your own.

  1. Affordability – by focusing on a particular niche, you will be able to come up with   affordable prices for your customers which in turn would encourage growth.

  1. Give free demos –    besides allowing you to showcase your quality of work, giving out free demos will also allow you to establish the real capacity of your company.

Bottom line

E thing taken into consideration, taking advantage of the above mentioned tips serves as a guarantee to excel the software niche company that you would have set up.

By Taylor Ryan – head of Marketing at GenieBelt – easy-to-use construction platform.

 

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If You’re Not Streamlining Your Business, You’re Doing It Wrong!

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The modern market moves at a breakneck speed. It seems as though every year things get faster and faster and it can sometimes feel downright impossible to keep up. For many businesses, the pace is simply too fast to be able to keep up with, and they end up falling behind. If you want to avoid that happening to your business, then you’ve got to focus on one simple word: streamlining. If you’re not streamlining your business, you’re not running the kind of business that can be successful in 2017. It’s the only way to make sure that your business is as productive and efficient as it needs to be. With that in mind, here are a few parts of your business that you can easily streamline to make them run as smoothly as possible.

Marketing

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https://www.flickr.com/photos/wavyday/4436595710

The general assumption with a lot of businesses seems to be that the best thing to do is simply to have as much marketing as possible. As if covering all the bases is going to be the most effective way to bring in customers. There are several problems with this approach. For one thing, it’s a huge waste of effort. Unless your product is something very special indeed, it’s never going to appeal to every demographic at once, and that means that you don’t need to market to every demographic. Instead, you should focus on your target customer and zero in on the most effective marketing strategies for them. Spreading your marketing out thinly like that is also going to end up diluting your message as you try to make it appeal to as many people as once. It’s far more effective to create an engaging marketing campaign directed at a specific set of customers.

Point-of-sale

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https://commons.wikimedia.org/wiki/File:HTHospElite.jpg

Depending on the kind of business that you’re running, there could be a seriously large spectrum of complexity regarding your point-of-sale system. If you’re running a small retail store, then it’s likely that you’re not going to have many elements that need streamlining, but if things are a little more complicated than that, there are things that should be thinking about. For example, if you offer your customers a finance option of their purchases then you don’t want it to be incredibly complex for either you or them. A site like http://vyze.com/ can provide you with an incredibly streamlined approached to consumer finance.

Employees

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Look at your employees and ask yourself a simple question: does everyone have enough work to do? This might seem like a strange thing to ask, but it is important. Far too many businesses end up hiring too many people, and the workload is then spread too thinly. While this might not seem like such a bad thing initially, what ends up happening is that employees are far more likely to become bored and lose motivation when they don’t have enough to do. See if you can reduce your staff size down and offer more work to each employee. That way you reduce your staff costs and increase productivity in one fell swoop.

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Why Business Owners and Their Employees Need to Keep Learning

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If you’re a business owner, you need to find time to keep learning about your industry and how to run your business better. This can be a difficult task, especially if you work long hours and you’re always on the go. Even so, the benefits of continually learning are huge and you should consider spending time learning each week for the following reasons.

You Become a Better Business Person

When you learn new business skills and develop your existing skills, you become a much better entrepreneur. For example, if you complete an executive masters in business administration online program, your decision making skills, your planning skills, and all of your other business skills will improve dramatically.

However, some business owners will say they don’t have the time required to complete a course like this. Thanks to the latest online executive MBA courses available, this is no longer a problem because you can study wherever you want to study and at times that suit you.

A Business Becomes More Innovative and Efficient

Once you and your employees get into the habit of learning new things on a regular basis, you will all start to find better and more efficient ways to work. Better processes and work practices will become the norm and you and others in your business will always be on the lookout for other ways to create a much more productive workplace for all.

Your Business Becomes More Profitable and You Create More Revenue Streams

The success of a business is usually determined by the amount of profit it makes each year. The more knowledgeable you and your employees are, the smarter you will be with your company’s money. As well as this, you may find that there are other revenue streams you could be capitalizing on that will generate even more profit in your business and will allow your business to grow even bigger.

You Stay Ahead of Competition

Most industries are extremely competitive, so you need to find ways to keep ahead of the pack. If you and your employees are always aware of the latest news and developments that affect your industry, you will be in a much better position to react to future events. This approach prevents you from making mistakes and you will also be aware of possible opportunities that will arise down the line.

You Have a Better Work Environment

When you encourage employees to learn and invest in their education by sending them on regular training courses, it’s a clear sign that you respect them and want them to grow in your organization. This increases their loyalty to your company and it’s one of the best ways to retain more staff. Every employee is more likely to become better at their job and this in turn leads to more productivity and efficiency.

The more you and your employees are willing to learn, the more successful your organization becomes. If you can introduce a culture of learning by following the points above, you will start to see positive changes pretty quickly as your business become a more enjoyable, efficient and productive place to work in.

 

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