How to Go Green

From reduced operating costs to targeting a particular customer demographic, having your small business become more environmentally friendly can yield a host of benefits. Reviews for Global Resources LLC can help you in all manner of your small business operations in addition to these tips about reducing your carbon footprint.

Go Paperless

Unless you deal specifically in stationary, the vast majority of banks and accounting software allow for paperless services. This will save you on everything from paper, envelopes, stamps, extra printers, to even printer ink costs.

Even paper mail that your company receives should be scanned and digitized for convenience and security. This can be a lifesaver in the event of an audit where you can instantly access and deliver documents that are easy to lose such as printed receipts and mountains of invoice records.

It is always beneficial to cut out the middleman and save your firm’s time when you already receive digital documents and don’t have to go through the hassle of translating paper products to digital. Modern computer technology can save your business entire rooms of inventory where paper records would have been stored in decades past.

Incentivize Green Transportation

If your company is based out of a metropolitan area with reliable public service, you can subsidize your employees’ transportation such as bus or subway passes. This can create a more reliable commute, meaning that employees and you no longer must guess how traffic will be on a given day.

Allowing space for bike storage can encourage workers in a bike-friendly town to pedal into work, another option that often doesn’t vary as much as automotive traffic might.

Finally, for areas that don’t have mass transportation or bike-friendly roads, you can help workers coordinate carpool routes either through personal vehicles or splitting a car in some sort of rideshare application.

Encouraging more environmentally responsible transportation amongst your workforce can also yield practical benefits, as your workers will not have to battle traffic as much and public transport can remove some of the more cliché vehicular excuses as to why a given team member was tardy.

Invest in Renewable Energy

Fossil fuel alternatives have made staggering leaps in the past few decades. From solar panels on the roof of your business to buying an electric company car, there are a wide variety of ways you can jump on the renewable trend.

Many of these options are geographically dependent. Solar electricity requires being located in an area that provides appropriate sunlight, but if you are in a sunny area such as the American Southwest, you might reach a point of energy independence where you can even sell surplus energy back to the power grid.

Likewise, geothermal heating is region-specific, but it can save money on heating costs after establishing the infrastructure. Not only will your heating bill benefit, but you will reduce your dependence on harmful methods of energy.

Consider transitioning your vehicles from gas/diesel to electric over the next decade as vehicle manufacturers begin rolling our more electric vehicles, including trucks.  For example, Ford Motor Company, currently offers an E-Transit electric van with scheduled maintenance costs which are 40 percent lower than the average maintenance costs of a comparable gas-powered van.  Ford, which sells the popular F-150 pickup truck, which is the best-selloing vehicle sold in the US, has introduced an electric version of the F-150 that is arriving in 2022.  General Motors is also developing an electric version of its Silverado pick-up truck.  GM also announced a $7 billion investment into developing electric vehicles.  And, Ford said that it will have annual capacity to build 600,000 electric vehicles, including 150,000 F-150 Lightning pickups within 24 months.  While you would not know it by what you see on the street today, there is a revolution taking place by vehicle manufacturers to fast-track their movement into electric vehicles.  Entrepreneures who want to be on the cutting edge of this green revolution will find long-term benefits and cost savings with lower maintence and fuel costs.  Moreover, tax credits offered by the US government for electric vehicles will lower the initial investment.

Create a Remote Team

Telecommuting has proven to be a viable form of work. Establishing a remote team for departments that don’t have to constantly convene in person can save all parties involved.

Employees can save money and time by not having to commute, and their attendance can be more dependable now that they are not at the mercy of rush hour traffic.

Employers can save on office space and maintenance costs now that they don’t have to accommodate so many departments in each space, and remote employees are often more efficient working from the comfort of home.

Finally, the environment will benefit by reducing energy consumption from vehicles and company housing.

What was once seen as a luxury, an eco-friendly corporate model is proving not only socially responsible but is also showing real benefits for both employers and employees. These benefits are likely to only improve as green-technology advances and scientists look towards alternatives to fossil fuels.

How to Evaluate Employees

Many small business owners rack their brains on designing the proper job interview to meet their company’s needs for any given role. This should always be a point of emphasis, but many entrepreneurs don’t consider how to objectively evaluate a worker’s performance moving forward.

Managers either fall back on outdated forms of evaluations or criteria that don’t even match their industry’s niche. Even worse, some companies don’t even bother to keep concrete records of workers moving forward.

Establishing a set protocol for evaluating work performance can be a great way to track how productive your hiring system is moving forward, always making sure that you are securing the best workforce possible.

Value Performance Over All Else

Some employees can be hard to negotiate with on a given day but still be excellent workers. Senior management and entrepreneurs should not allow emotions to get in the way and consider each employee’s contributions to the firm’s ultimate mission.

Don’t let anyone’s personal preferences get in the way of losing a great team member, but also be flexible when considering a toxic employee who is a great performer at the moment but can bring the firm’s overall production down over time.

Establish Standards

Another way of making sure that your managers are making fair decisions is by establishing clear parameters for them. Creating a clear scoring rubric for interviewees can clean up any confusion and make sure that candidates are being graded on a fair basis.

Set Goals Going Forward

Don’t hold your workers’ feet to the fire at every turn, but successful entrepreneurs would do well to advise their managers of what to look for as a new hire is introduced and learns the ropes.

Establish a timeline moving forward for what skills/knowledge your new employees should demonstrate as they evolve.

This can be a great way to gauge how your hiring process is functioning going forward, so you know if your business can handle employees that only demonstrate basic skills but are highly trainable.

Be Open to Conversations

Never forget that all of your employees are human beings. Everyone is always dealing with some sort of challenge (much like you are as a small business owner). If you notice a dip in production, never be afraid to encourage your managers or hesitate to ask your crew what’s going on in their life.

Some might be experiencing a family tragedy or a personal illness and be struggling professionally despite their best efforts. This makes having meticulous performance notes without being too judgmental especially important.

A struggling employee showing up to work should be a mark for rather than against his or her dedication to your firm. Track work performance but never immediately cut someone who has suddenly fallen in performance.

Showing that you care about someone’s life outside of the office can make them feel valued and double their efforts once they can right the ship and return to work.

No matter what stage you need tips on, from the hiring process, to further work evaluations, Reviews for Global Resources LLC has advice for every step of the way.

Three Traits of Successful Entrepreneurs

Business owners come in all shapes and sizes and occupy every industry, providing products and services to everything consumers express any sort of interest in. Despite this incredible diversity, there are several common traits that successful small business owners all demonstrate in their adventurous vision and persistent work attitudes.

Persistence:

Nothing can take the place of persistence. Courageous entrepreneurs have often set out with brave visions of success only to give up at the slightest inconvenience. Launching your small business is above all about managing a never-ending series of obstacles and finding joy in it instead of frustration.

Before you start your small business, you will have to take a long look in the mirror to determine whether or not you have to grit to see your project through. No matter how much passion you have for your business model, you need to realize that it will not always be fun.

Looking to launch your passion project without the willingness to face hardships dead-on is only planning for financial disaster.

A Commitment to Organization:

It’s hard not to get excited about delivering the end-stage product or service, but many small business owners struggle to wrap their heads around the sheer amount of logistical planning that this usually entails.

Larger companies will be able to outsource corporate mapping over time, but business owners who are first starting need to be able to create their vision from the ground up, designing everything from department organization to individual performance evaluations for employees.

This is not glamorous, but it is vital for everything from pitching your entrepreneurial vision to investors, preparing your business documentation to sale, and finally ensuring that you never stray too far from your company’s goals and mission statement.

Having a Clear but Adjustable Budget:

Unless you have a lot of independent funds to start your business out with, the first few years of your small business adventure will live and die by your ability to balance your checkbook. Never begin sales without discreet knowledge of how much volume you will need to generate to break even.

Too often business owners rely on “hopium”—hoping for the best, rather than engaging in a well-thought-out business plan which will include being prepared for the worst scenarios that can impact the financial well-being, as well as survival, of a burgeoning small business.

Leaders Exemplify Company Values and Exude Positivity:

Hiring the right managers should always be a top priority. Nothing deters talented individuals and encourages good employees to leave quite like toxic leadership. Good leaders not only attract qualified individuals, but this can also aid with general networking, always looking out to make mutually beneficial links in any given industry.

Business owners should be the type of leader they would like to employ, but you also need an effective way to evaluate potential managers. Many job seekers entering these positions just know what to say in a traditional interview, but your business needs to find a way to separate managerial candidates who do the right thing from those who only know the right words to say.

Launching a small business is never easy, but it can be incredibly rewarding for the right individual. If you find that you possess the following traits, then launching your small business with the help of GR-US.com is the right decision for you.

Outsourcing for your Small Business

Outsourcing certain departments in your small business to outside firms can seem only possible for large corporations, but this isn’t the case. Multiple services can allow other entities to handle without having to expand your full-time workforce.

Accounting

Accounting is one of the first services that a young business should most definitely outsource. Unless you have lots of financial experience, handling your small business accounting on your own can be very difficult, and hiring an in-house accounting department can be very costly in terms of both infrastructure and staffing.

Hiring an independent business accountant can be an inexpensive and efficient decision, as competent hires can often handle the books of multiple businesses without you having to pay them as full-time employees. Independent accountants can also process books on time as your small firm won’t have the myriad of financial transactions incurred by a large corporation.

According to the Small Business Administration (SBA), most small businesses report spending between $1,000-$5,000 per year on all accounting expenses. The SBA also reports that 71% of all small businesses outsource some aspect of their accounting tasks, so it is a popular option for entrepreneurs.

Administration

The internet has made hiring virtual assistance (VA) more convenient for both firms and employees. It has expanded the talent pool for hiring managers, but it has also made work more convenient for employees.

This can be incredibly beneficial with busy entrepreneurs who just need someone to manage their company’s communications, scheduling, and social media posting. A virtual assistant who is a master at social media advertising can be an invaluable way to get your firm’s name out in the world.

Various contractor platforms allow access to virtual assistants of every level. You can pay as little as $10 per hour for more basic assistance. This would mostly involve checking your business emails and keeping your schedule tight while you get down to business. More expensive VA’s can charge between $30-$70 per hour if they have specialist industry knowledge or offer additional services such as marketing management.

Customer Service

Because most customer service is done over phone or e-mail, firms can outsource their customer service department to save on the large office space you would otherwise be spending on a call center or physical desk attendants. Most modern customers prefer this method that leaves their house, so it won’t be an inconvenience for either party.

Most entrepreneurs report saving money when they outsource their customer service, but this comes at a cost. Business owners should be very careful with the firm they side with, as there is now a disconnect with the customers you are trying to help.

You need to make sure that you give a strict direction as to how you want your customer care handled by any given firm. You are ultimately handing your company’s reputation over to an outside firm.

While cost-effective, you as the decision-maker need to be very sure that the company you are hiring is able and committed to providing your consumers with the care that is in alignment with your company values.

Outsourcing tasks is a more advanced step in planning your small company, but it is not out of reach for even single-employee companies. From accounting to hiring an assistant, the internet has made sure that there are options for firms of every size and shape.

No matter what structural advice you need for your entrepreneurial vision, Global Resources has the answer for you.

How to Incorporate Your Small Business


Having your small business labeled as a corporation can give your entrepreneurial project some great tax advantages as well as liability coverage. The processes and benefits vary based upon the state your business is based in, but it is always a major step for any startup business.

Having your business venture labeled as a corporation also brings up a sense of respect amongst customers, potential investors, and even your own sense of pride. Having that “inc.” next to your business’s name lets everyone know that you’re serious about your vision.

Incorporation is fairly straightforward in most states, but it can take anywhere from one to six weeks and up to $500.

Depending on how complicated your company’s legal status is or how specific your state’s laws are, it might be advantageous to invest in a business lawyer to navigate some of the nuances of these major points.

Consider Local Laws

While this may seem obvious, there is a chance that there are some minor licensing or zoning laws that you as a small business owner are not aware of. This won’t be an issue unless you are looking to start a corporation involving adult/child care or food/alcohol service.

Medical services such as urgent care clinics or dental offices will want to make sure that there is nothing else to sort out with your state’s board.

Make Sure Your Name Is Unique

Most state offices will return applications that feature the names of previously incorporated businesses, but they also offer directory services to ensure that your name isn’t already taken. This might not be an issue if you are operating in a niche industry, but very saturated markets can be a problem.

You can save yourself weeks of hassle if you use your state’s services to make sure you’re not following an invalid application for incorporation.

Write Your Corporate Charter

Also called articles of corporation, this document is the official paperwork that entrepreneurs will file with the state to serve as the legal establishment of their company. They are not very complicated but are necessary within the United States to file for incorporation.

Most states require a company name, a general corporate structure outline, and the number and type of shares to be put on the stock market upon initial release. You should also name a registered agent which is an entity that can officially receive correspondence in the name of your business.

You will also need to name a board of directors, but this can be a formal arrangement that you could then alter moving forward. The state board of directors merely requires a precursory list with address information.

Establish Corporate Records

Once your state paperwork has been filed you will want to start a book of corporate records. This document will be useful to show the IRS that you are operating in compliance with state tax laws and any other corporate bylaws.

The records book also typically contains board meeting notes, as well as loan and stock information. Making sure that your record-keeping is starting off on the right foot is always important, but this responsibility only increases when documenting a corporation’s more extensive and scrutinized information.

Incorporating your business can be an excellent decision in expanding your small business’s scope, but it will require some diligence on your part as the entrepreneur at the helm. While not a wildly technical affair, incorporation does need you to follow some simple steps (albeit very carefully).

Further information on expanding your small business, Global Resources Reviews can help you with every question you might have!


The Best Applications for a Small Business Owner

Software developments have revolutionized the small business landscape, making it easier than ever to plan and execute your business model. These applications can help to streamline your operation, turning your business into an adaptive, agile firm.

Xero

Xero is a very affordable piece of accounting software. It offers subscriptions for anywhere from 12 to 65 dollars per month and offers a month-long free trial to evaluate all supplied features and decide which subscription package is right for you.

Xero’s greatest asset is the ability to host multiple users even on its most basic of packages. This is significant because most accounting applications require the purchase of their more expensive packages to have multiple login identities active.

Xero also makes things easier on your customers, offering online quotes that you can alter and update your clients with at a moment’s notice. Quotes can also be turned into invoices that update customers as they make payments in real-time, and you can set up payment reminders, so your customer is always aware of the status of his or her account.

Xero’s greatest drawback is its lack of phone support. This may be an issue for business owners who would rather discuss service with a live person rather than dig through Xero’s online FAQ page or send an online-service ticket. Basic plans on Xero also limit owners to 20 invoices and 5 scheduled bill payments at a time. Entrepreneurs who work with Xero might want to consider buying one of the premium subscriptions unless they deal with a small, specific base of customers.

Square

Square is an unparalleled point of service (POS) system that allows business owners a transportable, flexible way of receiving payment. Square has a proven history and is praised for its mobility, often used in pop-up retail spaces such as food trucks and traveling sales kiosks.

Entrepreneurs can use the basic Square plan for free or pay up to 72 dollars per month for the premium plan which allows for a variety of useful features, including a lower payment processing fee and other benefits depending on your small business’s goals. Users say that Square’s greatest benefit is its ease of use and consistent service rates, regardless of a customer’s method of payment.

Meanwhile, Square’s flexibility might also be its greatest weakness. While Square can be used in a variety of small-business sectors, there are almost always more specialized POS options for a given industry.

Gusto

Gusto is a popular HR platform for small businesses that don’t have the space or resources to house and/or employ in-house HR and payroll departments. Its core package only costs owners 39 dollars per month. This includes automatic tax filings, benefits package management, and the ability for employees to view their financial records within the business such as pay stubs and W-2 forms.

Entrepreneurs praise the application’s transparent price model, automatic tax processing, and other payroll deductions. Gusto also offers instance cancellation for any of its subscription tiers as well as options for company contractors that don’t include a monthly fee.

Gusto is generally not recommended for business owners who require same-day deposits or exceptionally low monthly fees. The application also does not offer expanded health benefits throughout all 50 states. Managers who need to supply comprehensive health insurance to attract high-value employees might have difficulty managing HR and payroll through Gusto.

These applications are all but a small sample of the myriad of software that small business owners can use to get their financial ambitions up and running. All are serviceable options that cover every aspect of small business ownership, but there might be applications that are more specific to your industry. Regardless, one would be well served with these pieces of software while they look for a more fitting alternative. Global Resources Reviews can help you with everything from selecting software, to staffing, and even financing your business ambitions.

How to Design a Benefits Plan For Your Employees

After the daunting but rewarding challenge of starting a small business, employers may want to grow their firm from the beginning stages. This will involve attracting the best employees possible. Business owners need to realize that a benefits package is just as important as traditional compensation for many applicants.

Putting together a benefits package for a small business might seem difficult at first, but the internet has streamlined the process and left a clear protocol to follow. These steps can lead to a happy, healthy work environment for both the business owner and his or her employees.

While a tiring process, business owners will once again have to decide the budget for a specific project. Fortunately, an owner will likely be all too familiar with this process once it’s time to establish a benefits program.

The term “benefit” is very flexible in the business world. It involves anything that is provided to an employee apart from traditional compensation. Technically speaking, temporal assets such as company clothing or firm-provided meals are considered benefits.

These temporal benefits are the cheapest for an employer to supply but are often the least sought-after by job applicants. Most employees in the United States are looking for insurance in their benefits packages. This can vary from medical, dental, to vision insurance guarantees. These benefits are the most attractive to high-value employees, but they also need the most planning by an employer.

Health insurance in the United States will typically cost an employer at least 500 dollars per month per employee. This is the most expensive but also most attractive benefit to most job applicants.

Other health benefits such as vision or dental will usually only cost 10 to 20 dollars per employee per month, but they can be very enticing to skilled employees in addition to a traditional wage.

Work-life balance programs such as a strong paid-time-off system can let employees know that you care about their well-being outside of work. Advertising a given vacation program can go a long way in letting applicants know that you value their worth and have a respectful work culture.

Industries that often employ young people who are just starting to have children will be ecstatic to hear about maternal or paternal leave protocols. Happy employees are productive employees, especially when they know how much their managers care about their having enough time to grow their families outside of the workplace.

While discussing benefits with employees and/or applicants outside of traditional compensation, business owners should lump all these factors into a total “employee cost” for cost-analysis purposes. This will help owners to know how much they can budget on wages and employee benefits both when hiring and as a general operating expense. Firms that offer lower wages, but a myriad of benefits can be deceptively expensive to use if managers are not factoring in these expenses as a literal dollar amount.

Professional Employer Organizations (PEOs) can be an excellent possibility for small businesses that don’t have the time or resources to operate an in-house HR department. These firms will often find a helpful rate for many benefits packages after a brief questionnaire detailing the business’s scope of operation and the range of helps the owner can afford and/or would like to provide. The internet has made this an increasingly popular choice as there isn’t any need to be near a physical agency.

The other option is for owners to deal with healthcare/medical/dental providers directly. This is only a practical choice for very meticulous individuals who want to make sure that they are in direct control of every aspect of their employees’ benefits packages. Most small businesses would be best served by hiring a PEO when preparing benefits for their employees.

Small business owners looking to take the next step and attract top talent by offering benefits may be intimidated at first, but the process is not nearly as daunting as insurance calculations might make it seem. Entrepreneurs simply need to decide upon a budget and decide what benefits they’d like to provide. Some might want to contact insurance companies directly, but PEOs in the digital age are often able to secure very favorable rates, leaving all parties satisfied and ready for work.

No matter how you decide to go about designing your benefits program, Global Resources is determined to help you plan and execute all aspects of your small business aspirations.

SEO Writing for Your Small Business

Search Engine Optimization (SEO) writing is an expanding field in advertising for small businesses. It is a method of planning and writing about your small business in a way that maximizes how detectable your business is on search engines. SEO is a very cost-effective strategy to set your business up for success from the first edition of your company’s website.

Keywords

Producing a relevant keyword for a given business article is the bedrock of SEO techniques. Entrepreneurs must plan their keywords so that they are relevant to the products/services provided by a given firm. Luckily, there are several free tools to help you determine a term’s search volume and relevance to your business.

Key phrases of at least three words or more are recommended to prevent overlap with an unintended industry. Entrepreneurs should spread this keyword throughout their websites, using headings, links, and general text to boost their search engine standing.

Meta Descriptions

After deciding upon the keywords, you are looking to focus on, an entry’s meta description is one of the most important parts of a given entry on your company website. A meta description is a one to two-sentence introduction to what your viewer is about to read. You are pitching the content to your potential customers before they read into the body of your post.

Content

Some firms might get too distracted by the technical aspects of SEO, forgetting that the goal is to generate engaging, educational content. All the search optimization tricks are useless unless entrepreneurs or their employees produce content that is useful to a given reader or clearly explains a given product or service that the company can provide.

Modern market research has also proven a traffic increase keeps a regularly updated blog as opposed to creating and leaving a traditional company website to sit stale. Constantly adding entries into your website means that you can keep adding to your compilation of keywords and links, all increasing your turnout on popular search engines.

Consumer research shows that people are far more likely to investigate a website if it appears on the first page of Google. Most people do not search beyond the first results page purely because of expediency. This makes it paramount to get your small business website as high on the search index as possible.

Technical Performance

As you add content to your business’s website, you may notice that pages take longer to load. While this may not seem like an issue at first, it can damage your online presence in surprising ways. Some website architects point to research claiming that a consumer will leave a website where pages take longer than 4 seconds to load. Business owners are competing with potentially thousands of other competitors that are just another click of the mouse away for customers. This makes it especially important in designing a website that is user-friendly and technically responsive.

Fortunately, load times are not hard to manage. They merely require diligence when designing a small business’s website. Site architects should have a robust link-building strategy, but they should not require many site redirects. Images should be kept in compressed file sizes if this does not interfere with the image quality. These are just small tasks that can increase readability and keep clicks coming to your company’s website.

Search engine optimization for a small business can sound like an intimidating task at the start, but most entrepreneurs will find that the concepts are quite intuitive. Armed with some technical knowledge and an eye for what is an extension of the customer service and advertising sectors, a small but determined firm can create a visually pleasing online platform to help attract a consumer base.

Luckily, there are some great options for SEO optimization advice. GR-US.com is an excellent resource for every small business owner in topics ranging from financing, human resources, to marketing!

Accounting Software for Your Small Business

Once you have your small business up and running, keeping your accounting files organized and transparent will be incredibly useful from the very first time your business files its taxes until you are presenting an entrepreneur with your business overview to sell it and retire.

QuickBooks

QuickBooks is an incredibly easy-to-use piece of accounting software that has a long, reliable track record in the small-business corner of the market. The company features multiple plans and customization options, making it perfect for a small to medium business with any sort of financial situation.

QuickBooks prides itself on how easy it is to share with your accountant, making it exceptionally easy to share information. QuickBooks Online allows business owners to easily transfer financial information from your firm’s local hard drives to your accountant’s office.

QuickBooks’s long history has allowed it to develop and integrate with hundreds of other applications. These range anywhere from employee time-sheet software to billing and invoicing. Quickbooks software ranges anywhere from 25 to 180 dollars for the online advanced bundle. Some business owners cite the QuickBooks price point as a deterrent, but those who are in constant contact with their accountants (and can afford the more advanced packages) praise the application for its stability and the ease of sharing data.

Zoho Books

While Zoho offers a variety of applications, its accounting software is especially useful for small or even freelance-based small businesses. Zoho offers a pay-as-you-go service, priced at anywhere from 15 to 60 dollars per month for its premium services. Providing a form of payment on record can even afford a company a 14-dollar trial to see if it is the correct option for a given entrepreneur.

The great drawback of most Zoho applications is their narrow focus. Zoho is an excellent choice for businesses that are still trying to establish a footing in the marketplace, but many business owners might have to expand to the menagerie of other Zoho applications to the point where it would be easier to invest in a more comprehensive piece of accounting software.

Wave Software

Wave is an excellent choice for exceedingly small businesses that might only employ a handful of people or businesses that are just beginning operations. Wave is not as comprehensive as some of the giants of accounting software, but it is completely free, and it can serve multiple users and businesses all in one account.

Wave does not supply inventory tracking and mobile-based software. Businesses that this does not pose an obstacle can make Wave a lasting platform for accounting, but other firms might consider starting with Wave and later moving to a paid service that offers more extensive capabilities.

Many small business owners are enthusiastic about the product or service that they provide, but the details of financial literacy might fall by the wayside. The mismanaging or obfuscation of finances is one of the major mistakes that entrepreneurs can make in their business ventures. Fortunately, there are a variety of options for businesses of all sizes and sectors of industry. Business owners only need to research enough to find the accounting software that is right for them and continue from an informed decision.

Luckily, Reviews for Global Resources LLC is there to help you make that informed decision in anything from accounting software to hiring protocols. Global Resources can help you in every step of your small business journey.

Walking the Fine Line of Planning and Adapting

It’s no secret that one of the keys to a successful business is planning. On top of planning, these goals and strategies need to be implemented practically to see true success. Many business owners and managers will spend countless hours planning the near and far future of their company.

While planning is essential, unfortunately, things don’t always go exactly how they are expected to. In any company come many knowns that need to be navigated as they approach. This can cause plants to be adjusted or even deserted to better navigate a new landscape.

Knowing when to stick to a plan and when to adapt as needed can be difficult, but successfully doing so can dictate how a company will go forward in the future. When you are unsure of whether to follow a previously created plan or to go in a different direction, Global Resources is here to help. Reviews for Global Resources LLC speak for themselves about their ability in business consulting.

Why Business Planning is Important

Business planning is a vital part of any company. It supplies structure, how operations will work, where the company is headed, and how it will get there. Businesses with no set direct will have a harder time ending up where they want to be.

Business planning supplies insight on necessary steps, resources that will be needed, and a timeline of when goals are expected to be achieved. In developing a plan for your company, you can break down goals into smaller, achievable steps to work on as time goes on.

Planning in your company can cover all areas. This includes marketing, operations, finances, and much more. Without a plan for your business, you may feel like you are always making a blind turn. No business owner or manager wants to feel unprepared when it comes to taking the next step in any area of their company.

Why Adapting is Equally Important

While developing and implementing a plan within your business is especially important, so is being able to adapt when things don’t go as you expected them to. In any company, there will be unforeseen challenges that arise and cause you to alter course in one way or another.

In addition, you may find that one strategy you had planned isn’t working as you had hoped. This may cause adjusting or abandoning this strategy to reach your goals more practically and successfully.

Adapting is important in the grand scheme of your business to keep up with an ever-evolving world. Without adaptation, many businesses would fail due to their lack of conforming to major societal changes. If a business that has been around for years, such as Ford, did not adapt to an increasingly technologically based consumer market, they may have missed many opportunities for sales and recognition. The Ford F-150 has been the number one selling truck in the United States for the past 44 years. Yet, Ford has forged ahead by adapting to market changes for the F-150 in recent years.  To respond to consumer demand for greater fuel economy, Ford created a turbo-charged F-150 with a V-6 instead of the traditional V-8, which some thought would cause Ford to lose its crown.  But the Ford F-150 continued to be the number one vehicle sold in the United States through November 2021. Now Ford is adapting it’s number one selling vehicle again—introducing an all-electric Ford F-150 for 2022.  Instead of waiting for the electric vehicle market to fully emerge in the United Sates before committing to an all-electric Ford F-150, Ford invested heavily in what it foresees as a turning point in American automotive history.  Ford’s decision to adapt its number one selling vehicle to the future was so popular that in December Ford announced that it had received over 200,000 orders for an electric F-150 that it had to temporarily suspend new orders to be able to fulfill initial consumer demand.

Ford’s decision has shown that even when you are the leader in your field, you must constantly adapt to changes taking place in the world around you, even before they become apparent to most people.

Adapting your business for growth and prosperity means looking out beyond the current horizon to see a future that others have yet to grasp. 

Have the vision to be a leader in your field and you will create a bright future for your business!