business

When Is It Time to Start Outsourcing for My Business?

Angela Manning Business , ,
When Is It Time to Start Outsourcing for My Business?

When your business is in its early stages, you may be able to manage all of its internal processes yourself. However, as your company grows, this approach will become unrealistic.

In order to better serve an expanding group of clients, many companies outsource some of their workloads. What and how much work you outsource will vary depending on several factors, such as your company’s size and industry.

With that being said, there are some surefire indicators that it is time for you to start outsourcing specific business processes.

There Are Not Enough Hours in the Day

As a business owner, occasionally feeling overwhelmed with the sheer size of your to-do list is perfectly normal. However, if you rarely (or never) get through all of your essential tasks in a given day, then it is likely time to outsource.

Even the most motivated entrepreneurs will experience a decline in productivity when they are overworked. Therefore, you must know your limits.

Contrary to popular belief, outsourcing does not necessarily mean that you will delegate a large percentage of your daily workload to third-party entities. You can start with small, affordable changes that free you to start focusing on tasks you are most skilled at. For example, a small doctor’s office may hire a medical scribe so that their physicians can spend more time interacting directly with patients.

You Are Ready to Expand But Don’t Want to Hire More Staff

Hiring new team members is a tricky business. If you bring in too many new hires too soon, these individuals will put a strain on your financial resources. On the other hand, if you wait too long to begin hiring, then demand for services may rapidly outgrow the capabilities of existing staff.

Outsourcing provides you with a great third option. Most third-party providers have scalable service packages. This gives you the ability to access much-needed resources without committing to additional full-time staff. If your needs grow behind the provider’s service, simply upgrade to the next available package they offer or seek out a new outsourcing partner.

Adding New Services Would Require Discontinuing Old Ones

As a business owner, there will come a time when you will need to discontinue old products or services to make room for new offerings. However, it is generally not a good idea to stop popular services or products during an expansion, as this may negatively affect your revenue stream. If your decision to expand forces you to shrink your service or product lineup, it is probably a great time to begin outsourcing.

Take a closer look at auxiliary business operations, such as customer service, account management, and other processes that are not directly related to the services you provide. Identify which tasks can be managed by a third-party provider to avoid dropping clients or reducing the lineup of services you offer.

When done right, outsourcing can reduce the stress that you feel on a daily basis. Outsourcing can also fuel continued growth for your organization. That’s what we call a win-win.

Do you need new Oil and Gas talent?

Angela Manning Business , , ,
Do you need new Oil and Gas talent?

Hiring a new employee is an investment in your business that shouldn’t be taken lightly.

How do you know when hiring a new employee is the right decision? Where can you go for help?

It may be detrimental to your business to hire someone just to fill a vacancy rather than promote top talent. Also, you miss out on improving your company’s culture.

Below are some points of consideration to determine if you need new talent for your business. 

Expansion and the need for new employees

It may be necessary to hire a new employee if your current team lacks the particular skills needed like a fitter and turner for example.  

It’s always important to continue to develop your oil and gas staffing needs. You should invest in your long-term business strategy by hiring a new employee with the right experience in the area you need. 

You should keep in mind that it can take months, or years to train new staff. They will often be graduates with little experience. If they require specific training for a unique task that also draws time away from your current employees. 

One tip to look for when hiring new employees is to look for someone that not only has the required skills but is willing to share their skills and knowledge with your existing team. Collaboration is the key here. 

Your company is in the growth stage

Getting the right people on board as soon as possible is one of the most important steps to building your business. 

A candidate’s growth potential and LinkedIn network should also be considered as part of the hiring process at this stage. 

Look for a candidate who is excited about joining a new project and who will spread the word to a valuable network of friends and colleagues is what you are looking for. 

Focus on candidates that express curiosity, engagement, and a relentless drive to succeed, and remember that your hiring process is also a marketing tool for building your brand.

Your company is trying to reinvent itself

The key to reinventing your business, brand, and team is to hire new talent. This helps drive new ideas when building something new. 

You should consider candidates who think and act differently than the standard norms of your existing employees. 

Look into bringing some diversity into your recruiting process.

Where possible bring in industry leaders or top talents from other companies bigger than yours. They can then come and implement their existing knowledge into your business. 

Have a succession plan

Succession planning is vital to any business. The best time to start succession planning for your company’s leaders is immediately after they take the reins. 

Attending conferences, networking at events, or chatting with a competitor should always be included in your succession plan and recruiting strategy. 

When it comes to hiring top candidates, long-term relationships can mean the difference between signing an offer or missing out on top talent. You never know who’s watching you. 

How to Hire the Best Executive Assistants

Angela Manning Business , ,
How to Hire the Best Executive Assistants

Executive assistants make an important contribution to the success of senior managers when they work for them as their partners. 

Eventually, executives become so comfortable with their role that it becomes second nature. It goes without saying that they go above and beyond for their boss. 

Read the guide below for tips on how to hire your next executive assistant.  

Start with a unique job listing

Many people overlook this step, but it’s vital because the job posting is the sole means of attracting applicants.

Include a list of specific key responsibilities they will be responsible for: managing your calendar, booking calls, scheduling meetings, financial and data reporting, coordinating projects, the list goes on.

Are there certain expectations regarding education? Credentials? Do they require certification as a certified administrative professional (CAP).

Are interpersonal skills important? It’s essential that executive assistants possess resourcefulness, collaboration, adaptability, and the ability to think on their feet. It’s important that they have excellent oral and written communication skills.

Hire the experts for help

Using the services of executive assistant headhunters will allow you to find the right assistant faster. Recruitment agencies have a more extensive pool of candidates to choose from for executive assistant jobs. 

As well as vetting candidates faster, they keep you informed of the latest trends in administrative hiring and compensation. 

Start shortlisting

Look closely at the resumes and cover letters of candidates to determine if they possess the necessary skills and attributes. Don’t assume administrative assistants who have worked in an executive assistant role are ready to transition into this role. 

An executive assistant has the same basic core skill set, but he or she is typically expected to perform more initiative and problem-solving duties. 

Tune up your interview questions

Your questions should be asked in a manner that draws the most revealing responses. Here are five examples:

  • Where do you perform best at work?
  • In your role as an administrator, have you ever experienced a workplace conflict? And how did you handle it?
  • What are your strategies to anticipate the needs of a senior leader you’re supporting?
  • Describe a project you are especially proud of having managed.
  • At your current company, how have you saved time or reduced costs?

Trust your gut

When it comes to hiring an executive assistant, your listing of requirements and preferences should guide you during the selection process. You shouldn’t let one aspect of the candidate influence all your other judgments. Rely somewhat on your gut instinct. Ask yourself, are you able to be a true partner with this person?

References should be checked

Let candidates know from the beginning that references will be checked. During the interview, it’s important to verify the answers they give you. 

Furthermore, don’t hand over this task to anyone. You’re more likely to get an honest and detailed reference provided by someone at your level.

Offer the right package

In today’s competitive market, administrative professionals know they’re in the driver’s seat when it comes to getting hired. 

When polled, 55% of workers said they tried to negotiate for higher wages when they were offered their last job.

6 Steps to Creating an Effective Employee Training Program

Angela Manning Business , ,
6 Steps to Creating an Effective Employee Training Program

When you hire a new employee at your company, the first thing they will need to do is go through a training program to acquire the necessary knowledge and skills to perform in their role successfully. However, this isn’t possible if you, as a company’s founder or HR manager, haven’t created an employee training program.

In this article, we will go over the six steps you’ll need to do in order to create an employee training program that will effectively educate new hires.

1. Interview Current Employees

Before you create your training program, ask your current employees what they wish they had known before starting their jobs. See what they would have done differently or what they could have used more training in if you already have a loose training program set up.

Listening to this feedback is important because you’ll have firsthand accounts of what your employees and new hires need to be successful in their day-to-day roles.

2. Set Objectives

What are your objectives when a new hire goes through your employee training program?

Write down a list of topics you would like the new hire to learn and which tasks they should be able to perform after going through the program. Setting your objectives before actually creating the program and help you design the course more efficiently to hit each and every one of your objectives.

3. Design the Program

Now it’s time to design the layout of the course and the topics you’ll touch on. Think of this part as creating a course syllabus or outline. This should include everything your new hire will learn broken into chunks or modules for better organization.

It’s important to organize the topics in a way that makes sense. There should be a logical flow to the topics and go hand-in-hand with tasks they’ll be completing to get familiar with their position.

4. Teach Adults Like Adults

It’s easy to revert back to treating new hires as if they were students or children. It’s important to avoid this when creating an employee training program for adults. Keep in mind that they can process information faster and are more goal-oriented than a child in a classroom.

Also, remember that they are training because they want the job they’ve been hired to do. In turn, they are more excited to learn these new skills and topics.

5. Create Training Materials

Employee training programs often have educational materials that go with them. These include handbooks, presentations, pamphlets, and even instructional videos. No matter how you decide to get your message across, it’s important to have educational components included in the program.

Ej4 is an excellent place to start in gathering the right materials for your training program, especially when it comes to effective employee training.

6. Implement and Revise

Once you’ve finished creating your employee training program, you can start implementing it with new hires. The work doesn’t stop there, though!

Every six months or so, review your training program and ask new hires for feedback about what they liked and what they felt was missing in the program. This will help you revise it for future new hires and make it even more effective with each revision.

Grow Your Trucking Business With Freight Factoring.

Angela Manning Business , ,
Grow Your Trucking Business With Freight Factoring.

What is freight factoring? Do you urgently need money for transportation services and the freight bills are unpaid? Is it advantageous to use freight factoring and what are its drawbacks? What are the qualities of the best freight factoring companies?

Freight factoring.

This is when a business that deals with the transportation of loads sells its invoice to a factoring company. The factoring company takes a percentage of the invoice as their fee and the remaining amount is paid to the carrier. Different companies have different timelines for payment. Cash flow problems can force you to halt your trucking business and this will lead to great losses. A good credit score does not affect your chances of being funded since payment is dependent on the customer’s information. Freight factoring allows your business to get the necessary cash for:

  • Paying drivers in advance.
  • Fuel.
  • Insurance.
  • Repair and maintenance.

Reasons why freight factoring is right for you.

  1. The patterns of the cash flow don’t affect you.
  2. You can get unlimited cash and the amount grows with your business.
  3. Your credit line is not dictated by previous funding.
  4. Cash is made available to you on the same day.
  5. Approval depends on customers’ creditworthiness hence bad credit is not an issue.
  6. Fuel card programs and fuel advances are available.

Factoring process.

  • You delivered a load for a client who takes some time to pay back. You need money for driver’s pay, fuel, and other expenses but the cash flow is bad. You find a freight factoring company to offer a financial solution.
  • You scan, upload and submit your invoice to the factoring company.
  • The factoring company receives the invoice and processes it. Depending on the factoring fee charged, the amount deposited in your account varies.
  • The factoring company deals with invoicing, billing, and collection of debt from your customers.

Qualities of the best factoring companies.

  1. Industry knowledge.

They should know how the trucking industry operates and have experience in the management of receivables from companies like yours.

  1. Quality customer service.

The customer service representatives should have a vast knowledge of the industry and have experience working with companies in the same financial situation.

  1. Credit analysis and risk assessment.

The best factoring company checks the payment and credit histories of potential customers and monitors the financial strength of current customers. This helps business owners to know the viability and strength of their customers.

  1. Account receivable management.

The best factoring companies have a specialist on account receivable to contact the customer and ask for payment.

  1. Communication and reporting.

Communication is important to maintain a good business relationship. The best factoring company should have representatives to:

  • answer the phone.
  • respond to emails.
  • provide reports for online transactions of your accounts.
  1. Intagibles.

Check for online reviews and references from clients when searching for the best factoring company.

Types of factoring.

  • Resource.

The borrower gets low advance rates, low factoring fees, and takes responsibility in case the client fails to pay the factoring company on time. Your company buys back the invoice.

  • Non-recourse.

The factoring fee and advance rates are high and the borrower is not responsible if the customer fails to pay the debt on time. The charges are higher to cover risks.

Pros.

  1. You receive funds on the same day.
  2. The invoice is used as collateral hence bad credit history is not a problem. It is best for a start-up business with limited credit history for seeking funding.
  3. Cash in hand enables you to grow your business faster. This is because lack of money can make you turn down new business.
  4. The factoring company collects the debt from customers. This allows the trucking company to continue with the normal business operation without a gap in the cash flow.

Cons.

  1. For approval, you must have quality customers.
  2. The invoice should be payable within 90 days or less.
  3. The clients are notified of the change in payment address.
  4. The rates are higher compared to traditional bank loans.
  5. The costs of future deals increases if the customer fails to pay.

Conclusion.

Freight factoring ensures immediate cash flow allowing your business to grow further. This helps you to pay your drivers and repair the truck, meaning the business can go on as usual. Recourse and non-recourse are the two types of factoring. Freight factoring has several advantages and a few drawbacks that you should look into, to know if it’s the right path for your business. It is important to choose the best factoring company by considering the qualities mentioned above.

Do You Need Commercial Insurance?

Angela Manning Business, Finance , ,
Do You Need Commercial Insurance?

It’s not always clear whether a business needs commercial insurance. However, without the right insurance, a business can suffer. This is because there might be times when you need to make a claim. For example, if your premises are flooded, vandalized, or your business is interrupted.

This article will help you to understand whether you need to take out commercial insurance and what the insurance could cover.

Owning Real Estate

If your business owns real estate or any property it can be beneficial to you if you have commercial insurance. This is because the insurance could offer your property in addition to your business equipment or products some protection.

You need to make sure that all of your property is protected. It does not matter how large or small the property is or how old it is. You need to make sure that you have the required insurance.

In addition to this, some mortgage providers also insist that you have this type of insurance. Some mortgage providers will not offer you a mortgage if you do not have commercial insurance. This is because you will be deemed too much of a risk.

If You Are Concerned About Liability

If you operate a business that can be prone to liability lawsuits, having commercial insurance can help to protect you. This is because some insurance policies come with separate liability insurance. This means you will have a bit more protection if you are involved in an industry that sees a lot of lawsuits.

Please note, not all insurance providers will offer you this option. This is why it makes sense for you to look for a provider that does. Knowing that you’re protected can ensure you can get on with the day-to-day running of your business. There is a real potential for you to lose thousands of dollars if a lawsuit does not run in your favor. This is why it makes sense for you to have insurance that pays out.

Business Interruption

If there is a chance that your business could be interrupted, you should take out commercial insurance. This is because there is always the potential for you to lose a lot of money. Let’s imagine that your business is flooded and you have to close it for the time being. Not only will you lose money but you will have to pay for all of the repairs.

Some insurance providers also offer business interruption insurance. This will ensure that you continue to receive a sum of money that should cover your business costs.

If you would like to run your business correctly, you need to make sure you have the right insurance. Please think about your real estate, whether you could be held liable by customers, or if you are covered if your business is interrupted. This will ensure you don’t have to pay to get yourself out of a mess. It will also keep you on the right side of mortgage companies and even the law.

How To Keep Your Patients Coming back

Angela Manning Business ,
How To Keep Your Patients Coming back

We are all aware that patients can switch healthcare providers within a few years. In some cases, they may do this even if they are happy with the care you provide. The good news is there are a few things you can do to ensure they stick around forever.

Communication is Key

One of the best things you can do is to keep communicating with your patients. This is vital if you would like to keep your patients coming back. You should also make sure that the communication remains throughout their time with you. This is irrespective of how long they have been with you. Many healthcare providers communicate with their patients quite a lot when they first join them. However, it can tend to fizzle out after a while. This leaves the patient feeling slightly disconnected from you, albeit unintentionally.

Keep Reaching Out

Keep reaching out to your patients even if they don’t have an appointment with you. You could, for example, send them health tips or even a few rewards from time to time. These options will encourage your patients to feel engaged with you and as if they matter. You don’t have to offer any incredible incentives or keep bombarding your patients with health tips. However, a little every now and then can help.

Send Appointment Reminders

A relatively simple way for you to retain your patients is by sending appointment reminders. There are a lot of healthcare reminder systems out there that work very well. Your patients, for example, will receive a reminder 24-48 hours before their appointment. The reminder can detail the time of the appointment and who they are seeing. This can ensure fewer appointments are missed.

Keeping Waiting Times Down

No-one wants to be kept waiting for more than 10-20 minutes for their appointment. While it’s not always easy to ensure all appointments are on time. Consider bringing more staff in if you can. This will ensure your patients are less likely to feel frustrated. In addition to this, you should consider offering last-minute appointments to those who need to be seen with little notice.

Manage your Online Reputation

One of the best things you can do in this digital age is to manage and monitor your reputation. Potential patients will look at your website and see how good your reputation is. If your reputation isn’t great think about what you could do to make it better.

When it comes to your social media presence, make sure that all of your posts are positive. Respond to anyone who leaves a comment on your account so they feel valued. This can help you no end and it can help your patients to stay with you.

As you can see, there are a few things you can do to ensure your patients are much more likely to stay with you. While some of these options can take a bit of work, they can make a world of difference.

How to Recognise if You Should Consider Building a Website for Your SME

Angela Manning Business , ,
How to Recognise if You Should Consider Building a Website for Your SME

Let’s face it. Not all small and medium enterprises actually need a website initially. It is not commonly what comes to mind as part of the starting line up if you want to begin a small local diner, bakery, salon, flower shop, travel agency, snack bar and more. However, with the changing times and also the probability of expanding in the near future, building a website is indeed a great idea.

In case you have been thinking about jumping into website building for your SME just recently, this article will help you make a conclusion with regards your decision. Below are a number of factors to take if you should actually consider creating a website for your business.

If your target customers shop or find services online

By the time you are prepared to make a website for your SME, you should have already marked your target market. One of the good reasons to build a website for your business is if you can chase your potential customers through it. Through market research, you will determine if your target audience goes online to shop or avail of certain services.

If you are willing to invest on a website (and possible future updates)

As you know, making a website for your business also requires some investment. Although there are free templates that are also easy to score, you definitely have a lot of sites with the same design as well. Investing on a website won’t cost you a fortune. There are many cheap domain names and web hosting providers that can give you what you need and how you actually want it done. Quality does not always have to be pricey. But you just have to search and examine every prospect provider well enough.

If the demand goes beyond your usual ‘proximity’

You will most likely feel the expansion of your SME when the demand starts to go beyond the normal scope of area that you are catering to. With that, you are also probably getting more orders or projects by now. A website with an order form will definitely help you track and record all these as easy as ABC.

If you have the capacity to deliver your goods/services beyond your initial reach

Before offering your products and services outside the scope of your usual location and building a website to support this expansion, make sure that you already have a means to actually take them to your clients.

If your customer service can handle sudden possible surge on orders and queries

Aside from all the given factors above, another thing to consider is your customer service. Having a website means being reachable most of the time.  Do you have enough capacity to accommodate all orders, requests and queries as the impending surge may come in anytime?

Once you felt most, if not all of these factors approaching, then you must really consider building a website. Until such time, just continue to grow your SME and expand your reach as it progresses. Who knows? You might even achieve global market in the long run.

A New Business’s Guide to SEO Success

Angela Manning Business , ,
A New Business’s Guide to SEO Success

Search engine optimization (SEO) is not a new tactic anymore. Indeed, companies and organizations have been looking for ways to improve their visibility on search engines for over twenty years now. Yet, that doesn’t mean achieving SEO success is easy today. The reality is that the digital landscape is more crowded and competitive than ever. With that in mind, here are four tips that all new business owners should keep in mind when rolling out a new SEO plan:

Identify Relevant Keywords

Though search engines have become more sophisticated with time, keywords still play a massive role in determining user intent and query results. As such, companies need to understand which keywords resonate with their audience. Some may be obvious; others, though, may be specific to an industry. There’s a big difference between regular plastic barricades and jersey barricades, for instance. That’s why conducting in-depth keyword research is essential to eventual SEO progress.

Create Compelling Content

There is no substitute for quality content. At the end of the day, companies that enjoy high rankings on search engine results pages have lots of excellent content on their site. Note, this includes, but is not limited to, blog posts. Yes, blog posts are still a mainstay of most SEO-based strategies. But there’s also something to be said for product or service pages that contain lots of useful information. Also, pillar pages can be an effective way to consolidate a single page around several pertinent keywords.

Expand Your Reach

SEO is all about visibility. Still, boosting your own site with on-site SEO methods isn’t the only way to attract more visitors to your company. On the contrary, writing guest posts on sites related to yours can help expand your message and allow it to reach new people. Picking up quality backlinks from respected websites in your field is one of the most efficient ways to propel your site up search-engine rankings. Just be careful not to engage in any black-hat SEO tactics if you pursue a link-building program.

Stay Patient

Choosing a path forward for a new business can be a complex decision. Sometimes, a business leader may not be certain about how to go about implementing an SEO strategy –– or if they should forego SEO entirely in favor of practices like paid advertising. However, it’s important to remember that SEO tactics are a part of a long-term strategy. It might be months before the full effects of SEO efforts are seen or appreciated. So don’t be concerned or discouraged by disappointing returns during the first few weeks of a new SEO strategy. Patience is a virtue that will serve you well here.

What You Need to Know About Small Business Security Camera Solutions

Angela Manning Business , ,
What You Need to Know About Small Business Security Camera Solutions

When most people think about security systems for businesses, they think about cameras capturing images of shoplifters in the act. While they can do this, there’s a lot more you should expect from your security system.

Security systems are an investment that every small business needs. They can help you keep an eye on your business and employees, protect your assets and yes, catch a criminal in the act. Keep reading to learn what you need to know about the solutions that security systems have to offer small businesses.

Keep an Eye on Inventory and Storage Spaces

Most business owners don’t want to think about their employees doing something to hurt the company. Especially in a small business setting, where employees can feel like family, it may feel too paranoid to worry about one of your trusted staff nabbing something from your storeroom. But the reality is that employee theft is a serious problem, costing businesses in the U.S. more than $50 billion a year.

A security system can help you prevent some of those thefts, or at the very least, help catch the crook so that you can let them go and prevent future thefts. When you’re thinking about where to place your security cameras, don’t forget your storerooms or any other areas where you keep inventory.

Monitor Employee Safety

Catching the occasional bad egg is important, but even more important is protecting your loyal and hardworking employees. Security systems in dangerous areas can help you catch dangerous actions or practices. If an accident does occur, you’ll be able to take a look at what really happened. This means being able to make changes to improve safety in the future. If the accident involved employee negligence, that security footage might just come in handy protecting your small business from legal trouble.

Watch Your Cash Flow

If you operate a storefront, the success of your business depends largely on the cash and cards being handed from customer to employee at your cash register or kiosk. So it makes sense that you’ll want to have an eye trained on these areas. Having a security camera on your cash register can help you catch crooks or even notice if your employees are making mistakes.

Protect Your Building Around the Clock

No matter how dedicated you are to your small business, you can’t be on-site 24/7. But that doesn’t mean that you don’t want to protect your investment around the clock.

A security system allows you to be there for your business day and night, even when you can’t physically be there. However, this only works if you choose a high-quality security system that’s equipped with night vision. Otherwise, the grainy or dark images and videos you get won’t do you much good. An Ultra HD security camera with 4K recording capabilities and remote monitoring is the best way to always keep watch over your small business and catch anything that might go wrong.

Choosing the Right Security System for Your Small Business

A security system is a great investment in the safety of your business. From protecting your business all hours of the day to watching your cash flow, monitoring employee safety and keeping an eye on your inventory, the right security system can help prevent thefts, protect you legally and give you peace of mind that your business is safe.