GRLLC

5 Tips for Scaling Your Business

Starting up a business is hard. You put in endless hours, deal with high-stress days, and have to make many sacrifices throughout the process. The result though, is your business – your baby.

There may come the point when you’re ready to take a step back and put more focus back to yourself and your family. When that happens, you’re ready to start scaling your business. This process will be a whole new rollercoaster. It will, though, allow you to free up more of your time and let others take charge.

A successful business should be able to operate without you there every day. To get it ready, Global Resources LLC Reviews has some tips to help you with the scaling process.

Ensure Your Business is Ready

Before you being anything, you want to ensure that your business is actually ready for this and that it will function without you. There’s no point in starting to scale your business if it will only cost you more in the end and end up falling apart. So, seriously look at how your business is doing, and if it can handle you stepping back.

Make a Task List

Start by making a master list of all the tasks you do. They should be anywhere from the day-to-day operations to things you do monthly and annually. The person who will be taking a more prominent role in the company will likely rely on this list, so make sure you are as thorough as possible.

Assign Tasks to Workers

Once you have your master task list, you can then start to delegate. With the bigger jobs that deal with important information, like clients and finances, you’ll want to ensure you have an employee that you trust to handle sensitive information.

There will be certain tasks that as the business owner, you’ll want to still be in charge of. Go through your list and mark off which are of high importance that you’ll still need to take care of.

Document What You Do

The point of scaling is to allow you to take a step back and give more responsibility to other employees. However, what happens if an employee leaves and someone new comes along, or an issue arises when you’re not around? Then, what does everyone do?

It would be best if you documented all the processes you go through on a daily basis. It will take some time, but having everything you do document allows for employees to review them without having to go straight to you.

Keep Things Simple

While you go through the scaling process, you want to keep it as simple as possible. Too complicated and it can become confusing and difficult for those taking over. To help keep the transition as smooth as possible, remove anything that is confusing and complex. You’ve likely developed a system that works for you over the years. Make sure you break it down so that everyone can understand it.

Scaling a business isn’t the most enjoyable job, but the end result makes it worthwhile. Make sure to document everything and to keep things nice and simple. Don’t give up the tasks that are most important for the operation of your business. Even though you’re scaling, you’ll still be somewhat involved in the daily operations.

GRLLC

5 Tips to Help You Manage Your Small Business Finances

As a business owner, you know how crucial it is to stay on top of your finances. Mismanaging and improperly organizing all of your financial matters will not only make life more difficult for the business, but it could also get you into hot water during tax season and invoicing customers.

To keep cash flowing, it’s best that you, as the owner, understand and know the entire state of your financial affairs. Otherwise, if you’re business starts to lose money, by the time you notice it could already be too late. That is why you should always know what is going on with your businesses finances to ensure its future is secure.

Keeping track of finances can be a daunting task. However, by staying organized and having a schedule, it will quickly become second nature. Consider using some of the following tips from Global Resources LLC to help you manage your small business finances.

Stay On Top of Invoicing

Although it’s not a task that many enjoy doing, it is one that needs to get done. If you fall behind on invoicing customers and clients, that’s less money you’ll have sitting in your business account.

Sending out invoices right after your business provides goods or services is a good habit to get into. Make sure each invoice has a reference number that you can cross-check with the payments. Set a payment due date so clients know when they need to submit payment by.

Use Bookkeeping Software

There are so many different bookkeeping and budgeting software programs available at your fingertips that help businesses with their finances. It’s never been easier to manage your business assets. Review some of the most popular financial software on the market to see which would help make your life that much easier.

Keep a Working Budget

Everyone can benefit from a budget, especially business owners. Especially if you are just starting, having a working budget will help keep your finances on track, and give you a clear understanding of how well your business is performing.

A working budget is one that is always in progress. It’s something you check on a daily basis and make adjustments when needed. Your working budget should include all of your sales revenue, as well as any expenses your business incurs.

Be Prepared for Major Expenses

Part of your business plan should include any future developments you may want or need. That could include expanding, moving to a new facility, hiring new staff, or updating existing software and equipment. All of those future developments are likely to cost your business quite a bit of money.  A good bookkeeping tip is to be prepared for those expenses, even if they are years down the road.

Developing a cash management plan is critical to the success of a business.  In addition to planning for the future in the long-term, you need to manage your cash in the short-term.  You should be able to track all your receivables and payables so that you can see what your cash needs will be on a rolling basis looking 12 or more weeks into the future.

Many entrepreneurs get into trouble because they don’t have a good system for predicting their cash needs in the foreseeable future and then get caught behind the payables “eight ball” when it is too late to come up with a needed solution for making payroll or keeping current with suppliers to avoid late payment penalties.  Failure to effectively manage cash is one of the most common mistakes entrepreneurs make in running a business.

Have a Record of Deposits

You have your budget, bookkeeping software, and have a system for your invoices, but do you know all of the deposits that’s occurred the last year? Knowing what each deposit into your business bank account will help you come tax season. Keep a running record and make a note of every deposit and what it is for.

GRLLC

How to Manage Customer Complaints

If you own a business (or plan to) that will see customers on a regular basis, then you know how important customer service is when someone expresses a complaint or concern. The way you handle it will keep the customer loyal, or they’ll leave and go to your competition.

Customer complaints happen all the time, and when they do, the customer typically has a genuine reason for the complaint. Because of this, it’s in the best interest of your business to take it seriously and deal with the complaint as efficiently and professionally as possible.

Here at GR-US.com, we want you to keep your business running successfully. That is why we came up with a few tips to help you manage customer complaints.

Remain Calm and Collected

The last thing you need is to get your customer even more upset by reacting to what they’re saying off of emotion. If you let yourself get upset back, it will only make the situation that much worse. Not only that, it will reflect poorly on your business.

Whether it is yourself or someone else in the business who handles customer complaints, it’s essential that you remain calm and collected.

Listen to the Issue

To know what is going on, you need to listen to everything the customer says. Encourage the customer to express how they feel so that you can get to the bottom of the problem. Before you can begin to offer any solutions, the customer needs to let off steam so that he or she can then calmly talk with you.

Acknowledge the Customer’s Complaint

It is one thing to sit and let the customer let off steam. It’s a whole different task, though, to then acknowledge that you’ve listened and heard the customer complaint. Repeat back to them the main point of their complaint. This will help calm them down, show that you genuinely did listen to them and that both of you are on the same page.

Gather as Much Information as Possible:

At this point, you’ll want to determine if your company is at fault or there was a misunderstanding. If you still need more information, start asking questions. You want to ensure that you keep the conversation flowing and not sounding like it’s scripted. Be genuine with your voice, and take the time to ask crucial questions that will get you all of the facts.

Come Up With a Solution

Once you have a clear understanding of the issue, then you can start to offer a solution. It could be simple as explaining there was a miscommunication and offering a discount, or it may require someone higher up to handle the complaint. Either way, provide a solution that would benefit the customer.

Follow Up if Necessary

Once you agree on a solution, the complaint doesn’t end there. It’s in the best interest of the company to have a follow up with the customer. This will ensure that they are happy with how the conversation went and the solution you offered.

The follow up is what can make you stand apart from other companies. Offer one last apology for the confusion, any kind of gifts you want to give the customer, and thank them for bringing their concerns forward.

GRLLC

6 Characteristics That Make a Great Leader

There are many ways to define leadership. For some, certain qualities matter over others. For the most part, though, we can define leadership as someone who can encourage and help their team move forward successfully, and knows when and how he or she needs to step in.

If you’re new to leadership or thinking of becoming a leader of some sort, it’s good to know what some of the common characteristics are that make up a great leader. Poor leadership will quickly hurt the team and not get anyone anywhere. However, good leadership will gain you respect from your team and gain the rewards as they progress forward.

To help you become the best leader you can be, Global Resources Reviews came up with some of the best and most common characteristics you should possess.

Confidence

Imagine trying to follow someone who isn’t confident in their abilities, decisions, and what they are doing in general. Sticking behind them would be hard. Not only that, if you’re unsure in your decisions, there’s a good chance your team won’t listen.

A good leader is confident in his or her decisions. There is a line between confidence and arrogance though, and crossing over into arrogance is not something you want to do. Be confident in yourself, and you’ll gain the trust of your team.

Integrity and Honesty

One of the most essential traits of great leadership is honesty and integrity. You want your team to trust you. If you’re not honest with them though, it will be tough for them to reciprocate and to gain their trust. People respect those who stay true to themselves and their beliefs and are honest with those around them.

Communicates

Another key characteristic of a good leader is communication. Poor communication is one way for a team to fall apart. A leader who is good at communication though that is the person that will keep the team together and guide them down a successful path.

Passionate

It’s easier for people to follow someone who is passionate about what they do. When your team sees just how committed and passionate you are about what you’re doing, that passion spreads to them. Passion is an excellent motivator to not only complete a task but to complete it to the best of your ability. So, a good leader that is passionate will continue to encourage their team.

Decision-Making

A great leader knows when it’s time to step in and make decisions, even the difficult ones. Decision-making also ties in with confidence. While under pressure, a leader, should be able to make decisions that provide the best possible outcome quickly. This also means consulting with anyone affected by the decision and taking into account the thoughts of other people.

Accountability

Another crucial trait of good leadership is accountability. A great leader is someone who knows when he or she needs to take responsibility if something goes wrong, and knows to give credit where credit is due. If a leader continues to take credit for his or her team and blame team members for any issues, it will be very difficult to gain any respect.

Not only that, but a good leader knows also to hold his or her team accountable. Although you take responsibility of the team, the members should take responsibility for their actions. So, a good leader holds his or her team accountable and gives credit and criticism when needed.

GRLLC

Should You Allow Employees to Telecommute?

It’s a question that seems to be more common in today’s world – should employees be allowed to telecommute? With many families struggling to balance their work and home life, telecommuting becomes an appealing option. However, not every employer offers this option.

Telecommuting is when you have an employee that works from home. Whether it be consistently or only once a week, that employee takes work home but is still expected to complete their job.

There’s the concern of how productive and motivated people will be when they work from home. Some research has shown that many people claim to be more productive when they can work from home. Now, that doesn’t mean every employee is better off working from home. Some should remain in the office. However, is telecommuting an option you should have available? Global Resources LLC Reviews has a few reasons as to why you should offer the opportunity.

You Open Doors to New Employees

It’s not a secret that employee retention is not what it used to be. Many younger employees will leave a job if they do not feel happy anymore, rather than stick it out for a paycheque and pension. That doesn’t mean they are bad employees. It does say, though, that you need to find new and unique ways to attract them and make them stay.

The lack of flexibility in a typical Monday to Friday 8:00 am to 5:00 pm job is what many find to be frustrating. It makes it challenging to balance their work with their home life. Offering to be flexible by allowing the option to telecommute, you are then listening to what many employees are asking for. The result, there’s a good chance your employee retention will increase, and that you’ll attract a broader range of talent.

Allows for More Focus

Although for some this may seem contradictory, working from home allows you to focus more. However, many employees who work from home find it to be less distracting than the office.

When working from home, you can control any distractions around you. At the office though, you cannot always stop a coworker from stopping by and asking questions, or noises coming from other desks.

It Will Save You Money

If the majority of your employees work from home, there are many parts of the business you’ll be able to save money on. You won’t need as big of office space, along with all of the office supplies required. You won’t have to pay to relocate anyone as they can do their job from the comfort of their home.

The bottom line, offering to telecommute at your company is likely to be a good thing. With today’s technology and the ability to have conference calls and video chat with anyone anywhere, there is almost no reason why an employee cannot do their work from home (depending on the job). When employees are happier and healthier, they are likely to be more productive. When employees are more productive, the company performs better.

 

GRLLC

6 Ways to Boost the Value of Your Company

Why would you need to worry about increasing the value of your business? For starters, if you ever plan on selling your company, a higher value will work out better for you. You wouldn’t want to be in the middle of making a deal, only to find out that your business is worth half of what you thought it was.

Luckily, there are ways in which you can continue to boost the value of your company, and you should. A company with a higher value has a better chance of attracting potential buyers.

In the business world, value means everything. With GR-US.com and our tips, you’ll be able to begin boosting the value of your company right away.

Diversify Your Customer Base

Although for your business, having key returning customers is good for the bottom line. For potential buyers and the value of your company, having a diverse amount of customers is better. Try to widen your customer base as much as you can.

This isn’t to say that you should neglect your loyal customers. You will still need them. Instead, spend a bit of extra time reaching out to a new audience. You may be able to pick up a few new loyal customers in the process.

Keep Your Business Up-To-Date

An outdated business won’t be as valuable as one that is updated in every way. Why? An outdated business will require time, work, and money to get it up to the standards of the potential buyer.

Increase Your Revenues

Although this may seem obvious, it’s worth stating. A company that is bringing in $10 million annually will have a higher value than a company bringing in only $100,000 a year. If you want to increase your business, plus put more money into your company’s bank account, work to increase your annual revenue sales.

For smaller businesses though, there is more of a risk to increase your revenue. You will have to take riskier steps, and if one backfired, it can cause a major upset and set your company back.

Keep Personal And Business Accounts Separate

Keeping financial accounts separate isn’t just good business for the value, it’s good business in general. It may be easier and less expensive at the start to have one account. However, when it comes time to determine the value of your company, banks and buyers want to see mainly profit.

Lower Your Expenses

Since increasing the value of your company often involves making money, as you work towards improving your sales, you should also work towards decreasing your expenses. In the end, the more you can do to keep more money in the business account, your company in return will gain more in value.

Seek Out Professional Help

There is never anything wrong with seeking out professional help when it comes to your business.  A business advisor can help create a plan that will boost the value of the company and get you ready for selling your business.

If you’re looking to boost the value of your company and get it ready to sell, try following some of our tips above. The more you can do to increase the value, the more you’ll get when it’s time to sell.

GRLLC

5 Characteristics of a Great Leader

What makes a great leader? Is it someone who listens but knows when he or she needs to step in? Maybe a great leader is encouraging and enthusiastic but is willing to be stern when it’s required.

Many characteristics make up an excellent leader, but there are a few that are general across all leaders. For some, being a great leader comes naturally. For others though, it requires a bit of extra work. In the end, however, anyone can be an excellent leader if he or she wants to be.

Global Resources LLC knows how important it is for a business to have strong leadership. That is why we’ve come up with the following characteristics of what makes a great leader.

Enthusiastic

A great leader is one who is passionate about many things. He or she should be proud and cheering on his or her team members. Enthusiasm should also be towards the company, the product, and everything else involved in the company.

Genuine enthusiasm cannot be faked. When you have a leader who contains genuine enthusiasm, however, it’s contagious to everyone around.

Communicates

You’ve likely come across a boss who struggled to communicate with his or her employees. You also know how frustrating it can be to work with a leader like that. It’s hard to get work done, let alone understand what you are supposed to be doing. Lack of communication can create a stressful and unmotivated work environment.

A great leader is one that can effectively communicate with everyone in the office. Whether it be delivering instructions, having to go through disciplinary actions, or just to motivate the team, a good leader can clearly communicate his or her thoughts.

On the other side of communication is listening. Just as a good leader can communicate efficiently, so too should a good leader be able to listen. It’s one thing for someone to speak, it’s something entirely different to sit back and attentively listen.

Dependable

Another key characteristic of an excellent leader is one who is dependable. You want to know that your boss has your back and is there when you need him or her. If you cannot lean on your leader when you need it the most, you may start to question his or her loyalty to you and the company.

Integrity

Having integrity is essential for a good leader. This will mean that a leader is authentic, knows right from wrong, can acknowledge when he or she makes a mistake, knows when to give credit for someone’s accomplishment, and puts quality and safety before anything else.

A leader who lacks integrity may have a difficult time gaining the trust of his or her employees. Once that trust is lost, it’s even harder to try and get it back.

Makes the Difficult Decisions

In the end, a great leader needs to be able to make difficult decisions. Difficult decisions arise in many ways. Whether it’s needing to make sacrifices, so it boosts the lives of everyone around, or having to make a tough call in regards to his or her employees or business, an excellent leader takes it upon his or herself to make the decision and doesn’t push it on to someone else.

GRLLC

4 Tips to Help You Stay Motivated

Do you struggle to stay motivated? Whether it be at work or for something personal, staying motivated can be difficult. There are so many distractions around us on a daily basis that can easily grab our attention. From cell phones to computers to noises outside, theirs is always something that will steal your attention, even for just a moment.

If you’ve done even one task, say at school or at work, you know the importance of staying focused and motivated. Without that motivation, it will be hard to finish your tasks and reach your goals.

So, how do we stay motivated? Global Resources Reviews has a few tips that may help.

Visualize the Result You Want

Now, you may be thinking, how does visualizing help me while I’m at work? Instead of imagining what the end of the job is supposed to look like, visualize what you get after you finish. Maybe you get to leave early that day, or it could be more significant like a pay raise or a promotion.

For other situations, visualize the result that you want. When you have that image in your head, it will help give you the push to achieve your goal. Maybe you’re struggling to stay motivated to workout. Think about what you want the end to look like. It will help you realize that only working at it will get the results you want.

Make Small Goals or Steps

If you have a large task at hand, this one will be especially helpful. Sometimes, we struggle to stay motivated because that job is so big. Instead of tackling it as one big job, break it into small goals and write them out.

There are two things you’ll gain from this. One is that it makes the task more manageable. The other is that each goal you complete will be a little pat on the back. It may give you the boost to move to the next goal.

Stay Organized

Clutter and messes won’t help you stay motivated. Instead, they actually can make you feel more stressed and uncomfortable. That is why you should keep yourself organized and the area you’re working in clean.

Staying organized also means for your brain as well. If you have too many things going through your mind, it will be difficult to focus on the task at hand. Get in the habit of writing out your thoughts in a journal or a list to organize what is a priority and what can wait.

Ask Yourself Why You’re Doing This

It would help if you had a reason why you are doing something. If it’s a task at work, you may be doing this because it’s required of you. If you’re struggling to stay motivated to clean up the closet, you may be doing this to get more organized and to find things you can sell.

If you have no reason as to why you are doing the task, it may be a sign that it isn’t meant for you.

These are only a few tricks to help you stay motivated. They may work for some but not for others. Staying motivated is personal and will differ with each person. However, it never hurts to try.

GRLLC

Grow Your Social Media Presence for Small Businesses

Everyone in today’s corporate world knows how important it is to have a social media presence. It’s a way to communicate with your customers and clients on a daily basis, interact with them, and to reach out to a broader audience. There are many benefits to having a social media presence for your business. However, it isn’t always easy.

You can send yourself or an employee to different courses and conferences on social media skills, or you could even hire someone who specializes in social media engagement. But for small businesses, sometimes the money isn’t always there to do these things. Instead, you want to find simple tips to help you improve your social media accounts yourself.

Global Resources (GR-US.com) wants to help your business succeed. Try the following four tips to help you improve your social media presence for your company.

Use the Right Platforms

Think about which social media platforms best suit your business culture. There are multiple different networks you can utilize, but some may work better than others for your company.

Facebook is always a good one for any business to use. Because Facebook is still one of the largest social media platforms out there, you can stay in touch and engage with all your customers and clients on a regular basis.

Instagram is an excellent way to give those who follow your business a different way to interact with you. With their daily stories, you can provide a behind-the-scenes look of what goes on at work. You can also have a lot of fun with posting different styles of pictures to figure out what catches people’s attention the best.

Have a Plan

Utilizing social media can become overwhelming very quickly unless you have a strategy. Your social media plan should include who your target audience is (their age, gender, area, and other descriptions of who your business attracts), what you’ll post about, what time you’ll post, how often, and what content will go on which platform. Regular and consistent posting will help keep your audience engaged.

Engage With Your Audience

It’s one thing to have a consistent posting schedule with great content. However, if you can yourself engage with your audience, it will take your social media presence to a whole new level. The public appreciates when you interact with them and answer any questions they have online.

Interacting on your social media account allows you to take control of what is going on in the online world. When people start to comment on your content, you can comment back and show appreciation, answer questions, control any negative comments, and continue on important conversations.

Promote Only When Necessary

Many businesses think that social media is only there to promote your brand and what you sell. While that is somewhat true, social media is also a way to interact with your customers and clients. If all you do is post pictures and statuses that promote an item and tell people to buy something, you’ll quickly lose their attention.

Instead, spend more time using social media to communicate, and sneak in promotional posts now and then. Following the ‘Pareto Principle’ will help you stay on track.

GRLLC

5 Tips for Adjusting to a New Role at Work

Whether you are starting a new job, have recently been promoted, or newly promoted an employee, adjusting to the new role at work can be challenging. At this point, you want to do everything you can to impress those around you, and to show that you deserve to be where you are. However, you also want to have a good impression towards the employees and management around you as to not develop a poor reputation.

Adjusting to a new role at work isn’t always easy. But with a bit of help from those around you and taking a deep breath to relax, you’ll be able to quickly adjust so that you can thrive in your new role.

Global Resources LLC Reviews can help you succeed in your new role at work by utilizing the following five tips.

Realize it Takes Time

Before anything, you want to understand that it will take some time before you’re completely comfortable at your new job, and know what you need to do. Don’t panic and be hard on yourself if you haven’t mastered every aspect of your role in the first few weeks, or that you know everyone’s name around you. Work at a comfortable pace as to not overwhelm yourself.

Adjust to the Culture Around You

As someone stepping into a new role, you’ll want to adjust to the new environment around you. Even if you’re working at the same company but moved to a different level or department, you’ll want to adapt to the surrounding already established. It won’t be fair, nor will other’s be too thrilled if you expect for them to adapt to what you bring with you.

That isn’t to say that you cannot contribute and bring a different feel or improvements to the already established environment. Once you’ve been at your new role long enough and have gained the respect and reputation needed, you can then start to suggest changes or improvements you think will benefit everyone else around.

Ask Questions

Never be afraid to ask many questions, especially during the first couple of months in your new role. The beginning is a crucial time to gather as much information as you can from those around you. Make an effort and show initiative by going to the right people to help you when needed. It speaks a lot on your end if you are willing to accept help and acknowledge when you need it.

Develop a New Routine

Your routine is likely to change once you move to a different position or a different job altogether. Find ways that work for you to help improve your efficiency and effectiveness in the office. Once you have that routine figured out, it will help you feel more comfortable at your new position.

Make Goals

A simple way to keep you on track and on task is by setting goals. This is an excellent strategy for those at a new job. Write down what you want to accomplish by the end of the day, week, and month. Include more long-term goals like what you want to know by the end of three months, or what you hope to improve on by the end of the year.