Category Archives for "Business"

March 20, 2018

Receivables Performance Management Reviews Reflect How Valuable They Are To SMEs

Senior Management at small and medium-sized companies have a more difficult job than ever in trying to create and maintain long-term success with their businesses.

Companies today must compete globally and often up against other companies that are many times their size and with much greater resources. In order to do this effectively they need to be well-armed, with a fully thought out plan and a group of motivated employees who are committed to winning no matter what the odds.

SMEs must make smart decisions about picking which products and services to offer and must master allocating resources and where to aim their focus. Those companies that thrive in today’s fast-moving business environment learn how to maximize whatever resources they have and to bring on experts who can provide them with additional access to resources that allow them to compete and excel.

Resources Performance Management is valuable to an SME

This is why company like Resources Performance Management is so valuable to a small or medium-sized enterprise. They provide a service to companies that is invaluable and helping them to keeping their doors open and to grow.

One critical area for all companies is an ability to consistently and efficiently collect money that is owed from customers. The timely collection of money from clients will be the difference maker in a business’s success. But too often companies are not capable or even staffed to perform these vital services and when they try, they find that they are not competent and risk alienating rather than motivating customers to pay their bills.

Resources Performance Management has a long term track record of success in receivables collection and management and have developed a suite of tools and receivables management services that are second to none in the industry.

Collecting money from customers is sometimes not easy. A good portion of customers will pay when they are supposed to without a problem. But there will always be a percentage of customers who will paying the beginning and then stop paying, and another percentage that will have problems paying all the time.

Getting what is owed from customers, particularly if they are in arrears on payments, requires a specific set of skills, and a detailed set of operating procedures in order to be successful. Resources Performance Management reviews each client’s needs and creates strategies and a work plan that are specific to every client. Clients can depend on them to take over the entire process from strategizing, to management of the collections.

The company has a specific focus on the Bankcard & Financial, telecommunications, utilities, retail, healthcare, commercial, state & local government, Small Balance Accounts – All Industries and National Legal Services – ACA Certified MAP Attorneys industries and is adept at all key areas of receivables management. Their services include:

  • Telemarketing Services
  • Customized Dunning Notice Services
  • Outsourcing and Pre-Collection Services
  • Early Age Reactivation Services
  • Late Stage / Post Statute Services
  • Small Balance Portfolio Services
  • Inbound and Outbound Services

With Resources Performance Management on the job, a company can get back to focusing on the parts of their business where they are experts and know that receivables management is well taken care of.

March 20, 2018

5 Useful tips on Being an Executive Vice President

If your dream role is that of an executive vice president like Kevin Rolle, simply continue reading to discover a variety of useful, invaluable tips on being an executive vice president.

1. Be able to multi-task

If you take on the role of an executive vice president, expect to have to multi-task on a day to day basis as you’ll have a wide variety of roles, in different sections of your business to take on. So it’s well worth working on your ability to be able to multi-task. As an example, on route to a meeting with your company’s board of directors, you may have to take phone calls from various managers, whilst clearing important emails.

2. Be willing to take on leadership duties when needed

To succeed in your career as an executive vice president, there may be times in which you’re sent to meetings or to different sections of your business, in lieu of your company’s president. As it’s impossible for your company’s vice president to be two places at once. So make sure that you’re able to take on the role of a company president, several times per week.

During these times make sure that you’re just as inspiring, articulate and charismatic as your company’s president. As if you perform well, there is every chance that you may be offered the position of company president, when the current president retires or decides to move on to another challenge.

3. Be able to problem solve and take initiative on a daily basis

Contrary to what some individuals may believe, the role of an executive vice president involves more than simply on behalf of the president. Instead, if you’re looking to be an effective executive vice president, you must be able to make autonomous decisions and being able to take initiative and solve any problems which may surface on your own. As your company’s president is likely to have their plate full, with their own tasks and challenges.

4. Concentrate on becoming an effective manager

Executive vice presidents are often tasked with overseeing the implementation of strategic plans, so it’s a wise move to work on becoming an even more effective manager. As an example, you may want to work on getting various heads of departments to send you regular email updates on the progress which is being made in their departments so that you won’t have to physically visit departments which are reaching their set targets

5. Don’t be afraid to delegate key tasks to individuals who you trust, will perform well

As an executive vice president, you’ll find that you’ll be kept just as busy as your company’s president, so it’s well worth learning how to delegate tasks which you can’t take on, to trusted members of the executive team. After all, if you try to take on too many tasks at any one given point in time, you’ll be highly unlikely to complete any of the tasks on your plate to your full ability!

In order to become the best possible executive vice president that you can, it’s well worth following the 5 leadership tips listed above!

March 20, 2018

The Popularity of Side Shift Work

According to ShiftPixy, in recent years the number of individuals who have chosen to take on shift work as a side job has increased exponentially. In order to discover why shift work as a second job has become such a popular option for individuals who are looking to supplement their main source of income, continue reading.

The popularity of side shift work: Why is shift work as a second job, such a popular option?

1. The cost of living in most cities has increased dramatically

As many individuals now struggle to make ends meet, with the wages or salary from a second job, many individuals are now forced to look for a second job. Taking on an additional shift work position in the evening is a great choice for many individuals as it will allow them to bring in hundreds or thousands of extra dollars per week.

2. Most shift work positions offer competitive hourly rates

One of the major reasons why shift work is becoming such a popular option for individuals who are looking to increase their monthly take home income is that most shift work positions offer more competitive hourly rates than traditional jobs.

In fact, some individuals who work a 9 to 5 job as well as a second job in the evenings, actually earn more

money from their second shift job, than they make from their primary 9 to 5 job.

3. Side shift work is ideal for individuals who are looking to get onto the property ladder

Individuals who are looking to save enough money for their first house deposit, often apply for side shift work in order to reach their target goal for their home deposit, in the fraction of the time which it would take them to save, if they just worked a regular job.

Working side shift jobs is also a popular option for homeowners who are looking to pay off

their mortgages within a short period of time. One of the advantages of paying off your mortgage as soon as possible is that you’ll end up paying far less interest on your mortgage.

4. Shift work allows workers to strengthen their resumes

Individuals who are looking to bolster up their resumes, in order to obtain their dream job may want to consider applying for a second shift work style job in order to strengthen their resume. As most employers will be keen to employ an individual who has shown that are a hard worker and are

willing to go above and beyond in order to succeed in life.

5. Shift work allows individuals to enjoy a higher quality of lifestyle

Many individuals choose to apply for shift work positions in the evenings, so that they can afford to purchase their dream car and go on regular vacations.

Whether you’d like to enjoy a higher quality of life or to pay off your mortgage sooner, it’s well worth considering applying for shift work in the evenings. As you’ll be able to turn your free time into cold hard cash, which you’ll be able to use to supplement your primary income.

March 20, 2018

Ron Ozer On The Advantages Of Being An Attorney

The job of attorney is one of the most respected in the entire country. For Ron Ozer, who works in New York, it is a way of life. He loves not just the many advantaged that are on offer with this job, but also what the actual job entails. Whether it is dealing with the contractual obligations of a hedgefund or arranging fair child support, he has seen it all and he loves it all. In a recent email, Ron Ozer revealed what he perceives to be the greatest benefits associated with being a lawyer.

The Benefits of Being an Attorney According to Ron Ozer

  1. Lawyers make a lot of money. In fact, the U.S. Bureau of Labor Statistics has reported that the average lawyer earns a six figure income, with many exceeding $100,000 by a lot. How much someone makes depends on their experience, where in the country they work, and who they work for. This with the least experience can still expect to make a lot of money if the work for the right law firm. Others, however, don’t do it for the money and prefer to take on as many pro bono cases as possible.
  2. No two days are the same. It is impossible for an attorney to get bored. They often have to travel to investigate their cases or to complete further training. They have work opportunities all over the country and each case they take on brings with it a range of new experiences.
  3. The role comes with a lot of job satisfaction and prestige. In fact, anyone who is able to become a lawyer is seen as successful. The pay is high, as explained, but it also leaves people in positions of influence, propelling them to the elite levels of society. Lawyers command recognition and respect. The media plays a role in this, as they still promote this glamorous image.
  4. It is an opportunity to help others. For all the excitement, money, and prestige, lawyers become lawyers because they want to uphold the law and believe everybody has the right to a fair trial. Each situation is different, with some cases being civil and others being criminal, but it is always about finding justice and doing what is right. Sometimes, this goes so far as being able to spare someone’s life, for instance by helping them avoid the death penalty.
  5. Lawyers know the law. This makes sense, of course, but it is a benefit that transcends the profession itself. Knowing the law benefits people in doing business, buying property, doing taxes, and so on. It is also an opportunity to network and make connections, because others will want to take advantage of this knowledge.
  6. Attorneys can start their own businesses. Some join existing firms, others start their own. A lawyer has the freedom to decide what they feel is right for them. This is a degree of flexibility that few other professions offer.

Clearly, being a lawyer offers fantastic advantages and opportunities. It is no surprise, therefore, that Ron Ozer loves his profession so much.

 

March 15, 2018

Patrick Dwyer Merrill Lynch – What Skills Are Required to be a Financial Advisor

I have always felt that the best way to choose your career is not only by doing something which you are passionate about, but also something which you are naturally gifted at doing. As part f our careers focus, we are aware that there are many different abilities which people possess and it is important that you choose a career which matches that natural gift which you have.

There are many different types of people from creative types to caring types but today we are going to focus on those who love finance and numbers like Patrick Dwyer Merrill Lynch financial advisor, and it is his career that we are going to look at today. The role of financial advisor is a great career choice and aside from being naturally gifted with numbers, here are the skills that are required to fulfil this role.

Confidence

In your role as a financial advisor you must have confidence in yourself that you can tell people, or at least advise them on what they should do with their money. The reason why you should be confident is because you need your clients to feel confident enough to take your advice on board, if you are not confident, you cannot expect them to take your word.

Hard Working

Financial advisors need to be experts in a wide range of financial markets and movements and it is up to your to work incredibly hard so that you can stay on track of what is happening in all of the different aspects of the financial worlds. This is about being far more than a jack of all trades, you must be a master of all trades so that you can give sound advice and in order to do this, you must be willing to work hard.

Salesmanship

The world of financial advice, much like many industries, is highly competitive and in order to attract and keep clients, you need to be able to sell them your advice. Many forget this aspect of financial advice but it is in fact one of the most important skills which a financial professional needs to possess.

Relationship Building

Having clients is about more than just offering them sound advice, it is also about building relationships with them so that they feel comfortable with you when talking about their money. You could be highly successful and offer the very best advice but if you can not be likable, you are unlikely to keep clients for a very long time.

Tenacious

Financial advisors do not always get it right and you must be able to possess the ability to bounce back from things when they do not go your way. Financial advisors often live and die by the advice which they give and this is very much a results driven industry, in order to stay on top of your game, you need to be able to overcome the set backs and win more than you lose.

March 14, 2018

Why Location Is So Important For Your Business

If you’re currently searching for the ideal location for your business, it’s well worth continuing reading in order to discover why it’s crucial to choose the perfect location for your business.

Why Location is So Important for Your Business:

  1. It’s crucial to choose a location which boasts plenty of foot traffic

When searching for a prime location for your business, it’s crucial to choose a location which boasts plenty of foot traffic as while some of your customers or clients may travel specifically to visit your business, a large proportion of your customers will choose to pop into your business as a result of walking past your business.

  1. In general, most potential customers are drawn to businesses which appear to be popular

If you choose a popular location, which boasts regular foot traffic and your business manages to attract pedestrians to enter your business, you’re very likely to attract further customers. As in general, individuals are far more likely to check out a business, if it appears to be popular. As if a business is empty, individuals will start to wonder whether there is a good reason for the business in question being empty.

  1. Your choice of location will influence your customers’ perception of your business

Another reason why it’s important to choose a great location for your business’ premises is that the neighborhood or area which you choose to base your business in will reflect on your customers’ perception of your business’ brand.

As an example, if you choose to purchase or rent a storefront which is located in an artsy neighborhood, your business may be perceived as being fresh and creative. Whereas if you set up shop in an exclusive, luxurious neighborhood, your business and its products may be perceived as being high end or luxurious. If you are looking for the best possible location for your business you can find commercial property for rent from Pall Mall Estates.

  1. It’s extremely important that your customers are able to easily access your business’ premises

One of the worst mistakes which you can make when it comes to choosing a location for your business is to choose a location, which is hard for your customers to access. As an example, never choose a location, which lacks ample parking or which is difficult for pedestrians to access!

As well as choosing a location, which boasts plenty of carparks, it’s also worth choosing a location which is easy for your clients to access via public transport. As not all of your customers may have access to a private car.

  1. It’s important not to set up shop in an area which features too much competition for your business

As an example, if you plan on opening up an organic cafe, it may not be a wise idea to open up an organic cafe in a block which already boasts a couple of organic cafes. Instead, your business will generate a higher turnover, if you set up shop in an area where your organic cafe, is the only organic cafe in the area, you should expect to generate a huge profit.

So it’s definitely well worth carefully choosing the right location for your business!

March 5, 2018

Board Software Is An Increasingly Popular Choice For Credit Unions

Credit unions face many unique challenges in the 21st century, and credit union boards are faced with the difficult task of anticipating and meeting the needs of their organizations while charting a strategic course that will help their membership grow in the years to come. Whether a credit union thrives or merely survives often hangs on decisions made by board members, and ensuring that board meetings are productive is absolutely vital to the success of the business as a whole.

Planning and running an effective board meeting, however, is not an easy task. Not only are there the usual logistical challenges of making sure all members can be present in person or via teleconference; there is also the problem of sending out the information packets ahead of time so members can arrive at the meeting prepared for a productive discussion. There are plenty of document sharing services available online, but with new risks to cyber security arising every month through malware and ransomware attacks, ensuring that sensitive information stays confidential is a serious concern. In fact, an annual study carried out by Computer Services Inc. noted that banks and credit unions across North America listed mitigating fraud and cyber security as one of their top three biggest challenges.

For many credit union board managers, the solution lies in better technology. While data security has always been a major priority in the industry, there is a growing awareness that even big-name software tools like Gmail and Dropbox are not impervious to cyber attacks. This is why a growing number of credit unions are turning to portal software to help share board information in a secure but accessible way.

Board portal software allows board members to access and comment on information packets through a secure portal, both before the meeting and while it is in session. Credit union board managers looking for the best board meeting software often evaluate it using a few basic criteria:

  • Accessibility: Can the software be accessed across a range of platforms (desktop, tablet, etc.)?
  • Security: What jurisdictions are server data kept in, and does the service authenticate each user when they login?
  • Functionality: Is the software easy to navigate, and does it facilitate user interaction with and discussion of the documents and reports?
  • Training: Does the provider offer training, so board members can get the most out of the software?

Most portal software providers are able to meet at least some of these requirements, but when considering which is right for your organization, it is best to look at what kinds of clients they specialize in serving. Credit unions have particular needs, and finding a portal software provider who understands those needs, like Vancouver-based Aprio, will make implementing and using the software much easier in the long run.

With 2018 already well under way, credit union boards are already planning how best to meet the latest challenges facing the industry, from sustaining growth on the individual level to working toward meaningful regulatory relief. No wonder so many are opting to facilitate these conversations using portal software that offers a secure forum to share information and ideas.

March 2, 2018

Scrutinizing The Best Agricultural Equipment Financing Myths

As anyone who has worked in the agricultural industry will testify, it’s certainly not a cheap one to operate in. In other words, the potential margins might be high, as you are constantly supplying food to eat, but to get to that level the equipment you need is very expensive.

This is one of the reasons why the best agricultural equipment financing companies are proving to be a popular option for business owners nowadays. In short, they give you an extra option to purchase equipment on, and mean that you don’t have to spend your entire year’s revenue on just one piece of machinery. In fact, it can be split across several years, which opens up umpteen growth opportunities.

As with any financial topic, there is still a lot of misinformation doing the rounds though. This is the reason this guide has been put together, as we take a look at some of the primary myths that exist in relation to buying agricultural equipment on finance.

“You need to put down tax returns and financial statements”

This first myth sounds correct, for the simple reason that most of us know how seriously banks are vetting applicants these days. Once upon a time you could walk into the bank and be pretty much given what you asked for. Now, the economy means that this has changed.

However, when it comes to the hire of agriculture equipment, this isn’t necessarily the case. Sure, if the equipment is particularly expensive (and we’re talking about that which is in excess of $250,000) there probably is a case to hand as much evidence as you can to the bank.

For smaller items, this isn’t always needed though. Specialist lending companies tend to have requirements which are far less strict than high-street banks in this regard.

“You can’t obtain finance because the equipment is too old”

This is something which also tends to be a problem with some banks. Some banks will put an age requirement on equipment, suggesting that it is too old to be eligible for finance.

It’s at this point you need to say to yourself that if you deem the equipment right for your business, you should chase down every avenue to obtain finance for it. In some niche agricultural fields, new models aren’t created all of the time. This means that old equipment is needed, and of course you need finance for it.

At the same time, you might need equipment for a job that you aren’t going to complete too frequently. In these cases, purchasing old equipment obviously makes much better business sense.

“You need to put more collateral for the loan”

This is quite an old-fashioned way of purchasing equipment, but is again one of the methods that some major banks insist upon.

This is another one of the reasons why specialist equipment financing companies tend to be a better option. It’s companies like these which will usually be completely fine with the equipment itself being the collateral, and won’t demand anything else.

March 1, 2018

How a Reputation Management Company Can Help You to Respond to Negative Reviews

Did you know that acquiring a new customer costs 25 times more than keeping one you already have? This is why you must invest in consumer satisfaction. This is particularly true when you consider that a business with an average star rating of 1 or 2 will only be considered by 13% of customers. What all of this means is that, if you have negative reviews, or you could get them, you need the help of a reputation management company.

What Can a Reputation Management Company Do?

A negative review happens for a reason. But what makes it worse, is that too many businesses still don’t know how to handle negative reviews. And by poorly handling them, the business makes the situation far worse. There are some key elements that seem to happen again and again that must be avoided if responsible communication is to take place. This is down to a number of steps:

Identifying what the customer is really saying. Negative reviews are emotive, and customers will share many details that are actually irrelevant to the situation.

Understanding that, in many cases, people do not dare to complain directly when something goes wrong, taking to the internet instead. The result is that the tone is often scathing, and a business must be able to read past that.

Understanding that a negative review is a complaint about a business, not an attack on someone as a person.

Being able to take responsibility for the bad experience a customer has had.

Understanding that a negative review is an opportunity to change things for the better.

Always remaining professional.

How to Respond to Negative Reviews

A good reputation management company is able to respond to reviews in such a way that the negative is transformed into a positive. Customer service is super important. Indeed, they may even convince customers to edit their reviews and increase their star rating. This is down to creating the right, powerful, response. This means:

Being personal – using the reviewer’s name when possible.

Starting with an apology in which the actual issue is raised.

Providing an explanation of why the mistake happened, without trying to make excuses.

Being accountable.

Showing how you have improved the situation.

Thanking the customer for their comments.

A few other key elements to a good response include:

To keep things short and to the point.

To use plain English.

To always apologize.

To make a peace offering.

To welcome more feedback.

Nobody wants to receive negative reviews. As humans, we don’t like criticism, no matter how constructive it is. However, it is inevitable that some people will be unhappy, and you must learn to see that for what it is: an opportunity to learn a lesson and to become even better at what you do. By responding directly and in a professional manner to complaints in the way described above, you show to others that you take things seriously as well.

February 19, 2018

Proven Facts To Help Increase Your Factory’s Productivity

What do you think of when you hear the word productivity? Do you image the costs of production, efforts made towards company improvement, or hard working team of employees? While all of answers are correct, productivity is also a state of mind.

As a team leader and manager, you certainly place the productivity of your factory on high priority. How can you get your workers to do the same? The answer lies in motivation, the driving factor behind nearly everything anyone does.

Where does this motivation come from, and how can you foster it to help your workers become the productive employees you know they can be? Here are some proven facts behind the secret to unlocking your factory’s full potential.

Work Needs Meaning

No one punches in every day simply because they love pulling a 9 to 5. Take your own job into consideration. What factors keep you coming back throughout the year?

Perhaps it’s putting food on the table for your family, paying off student loans, or striving to climb the corporate ladder. Everyone has personal reasons for going to work, but what keeps them at a particular job is the meaning they associate with it.

Each employee has a crucial function in the overall productivity of your factory, including you. Knowing your worth and meaning within the company gives you a sense of pride, importance, and makes you feel necessary.

Combining these two factors together is a sure-fire way to have each worker putting their best foot forward. Get to know them and their personal reasons for coming to work each day, then let them know that the particular job they do is essential to the bigger picture. Whether it’s buffing out the imperfection on a product or making use of pieces from the insert molding process by Weiss-Aug, their tasks are all equally important in getting the job done

Everyone Wants Control

Think about your first day as manager. While you might have felt a little nervous, it probably felt good to be in control at the same time. That’s true for everyone, no matter what position they work in.

When your workers feel like another cog in the machine, their productivity suffers. Try giving them a little creative freedom to get the job done their own way.

Now, that doesn’t mean you should let your employees run wild, but it does mean giving them a little autonomous freedom to make decisions. Maybe they see a simpler solution to eliminating a snag in production, or have an idea to increase their output with a smoother way of doing things.

Giving them the wiggle room to make small decisions is not only motivating, but also builds a sense of pride when they see the increased fruits of their labor. With that tiny aspect of control, each employee will challenge themselves to get their task done to the best of their ability. Plus, you can always keep tabs on their productivity with a service like Clockspot.

Everyone Needs Dignity

Whether you are the CEO of a Fortune 500 or whipping up someone’s drive-thru burger, you want to be treated with respect. While cracking the whip might work for horses, it doesn’t motivate people in the same way you might think.

When managers come down hard on their employees, resentment begins to build and productivity suffers. Instead, work on building a sense of pride and respect to better motivate your workers and help them move forward in their career. You can do this through one on one conversation, or addressing them as a group to congratulate them on their strengths.

Address the current problems with productivity, but let them know that they can reach your company’s goals through the hard work they are capable of. The more appreciation you show them for a job well done, the better their output will be.