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Why Taking Risks With Your Business Is Essential

Successful people are not ones that stay within their comfort zone. They step outside and take risks that will reward them in many ways. Not only that, they know that with taking a chance there is always the potential of it backfiring, yet know when the rewards outweigh the downfalls.

Risks are scary, especially if you’re not used to taking them. However, to keep moving your business forward, you’ll want to take those risks now and then. If not, it’s hard to push your company forward and continue to be innovative.

Global Resources Reviews knows how important it is to take risks while keeping the health and integrity of your business in check. If you’re uncertain about why you should take risks with your company, here are five reasons to help you decide.

They’re Calculated Risks

Successful entrepreneurs don’t take random risks. Instead, they calculate the odds and what the risk all entails. You wouldn’t see an entrepreneur jump into a deal without thoroughly thinking it through.

Calculated risks are a careful way to keep moving your company forward. They force you to think outside of the box and see different perspectives. These are the risks that could give your business the boost it needed to move to the next level.

You Won’t Have Regrets

The last thing you want is 10 years down the road you’re regretting never taking that risk. You see where your business could be if you would have taken the time to weigh out your options and take that daring step forward.

Don’t grow your business with regrets. Take the time to evaluate the risk and weigh out the benefits from the downfalls to see if the risk is worth it and if you’ll regret not taking it.

Risks Give You Confidence

Taking a chance and being successful with it is a big boost in confidence for not just yourself as the business owner, but everyone else involved. There is a link between your personal satisfaction and your willingness to take risks.

They Teach You Things

Risks are an excellent teaching tool whether or not the outcome is positive or negative. If you take a risk and it ends up backfiring, don’t look at it as a failure. Instead, see it as a teaching moment. Go through the process and see where you could have done something different. Then, you’ll have a better understanding for next time.

You Need Risks to Be Innovative

Innovation comes from taking risks. It’s hard to create something and move forward if you’re not willing to take that step outside your comfort zone. To move your company forward and continue being successful, innovation must happen, and it will only come from taking those chances.

Don’t let risks scare you away from pushing your business. It’s imperative that you accept that a risk offers many rewards, but it also provides many downfalls. However, you can take those downfalls and turn them into teaching moments, which still would be a win.

Risks are what drive companies into the future. It’s what sets them apart from everyone else. Be daring and ready to take on calculated risks that will benefit you and your company.

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Training New Employees? Read This First

Whether this will be your first time training an employee or have been doing it for years, there’s always new tricks and tips to the trade to help you out. It’s a good idea to refresh your training skills now and then to ensure your new employee receives the best possible training.

Training is essential the success of your newest team member. Inadequate training and you’ll be left with someone who won’t know what to do, and could end up quitting. A properly trained employee will be able to benefit the company right away.

Because of how vital training employees is, here at GR-US.com, we came up with a few pointers to help you have the best training program possible.

Make Sure There’s a Purpose

The way you train should have a purpose. It should tie in with the day-to-day tasks and activities the recruit will perform. Make sure everything you talk about and go through relates to the employee’s position.

If you’ve ever sat in a training program and you’re wondering why you’re there, you know that everything you’re supposed to be learning won’t benefit you. It ends up feeling like a waste of time. So, ensure there is a purpose to why you’re going through the training program.

Keep the Training Enjoyable

Don’t try to cram everything in at once. All that will do is overwhelm the employee and lead to a very unenjoyable experience. Instead, take breaks, spread the training over a few days or weeks, and try to make it as engaging as possible.

Don’t Stop After Day One

With training a new employee, it should not end after their first day on the job. In reality, a good training program should be happening all the time. There will always be new learning opportunities for every employee, and even yourself as the manager.

Instead of throwing everything at the new team member at once, spread it out. There’s no sense in teaching them about a program that they won’t be using for a couple of months. Make sure they are comfortable with what they need now and continue training them when new opportunities present itself.

Provide Feedback

Employees want to know how they’re doing, especially when they first start. They want to know if they are doing what you asked correctly, or if there is a better way. Feedback provides more training opportunities, and it helps build the relationship between you and your employee.

Be Prepared

Always go into a training session prepared. That means, you have all the necessary documents ready to go, any presentations are cleaned up and accurate, and you’ve gone through what you’ll say to your employee.

The quickest way to look unprofessional and that you don’t know what you’re doing is by being unprepared for training. Ensure the new employee that they are getting all the proper training they need to be successful by proving that you know what they need to know.

Encourage Mistakes

It’s not that you want your new employee (or any employee) to make mistakes purposely. Rather, you want to show them that it’s okay if they do. Try not to go into your training session with the expectation that the employee will be perfect at everything. Make it known that there likely will be mistakes and that it’s okay.

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5 Ways to Make Your Office Healthier

Workplace wellness is essential for your employees and your business. Most workers spend at least half of their waking hours at their jobs. No matter what type of job you have, there are work hazards you should be aware of.

For some jobs, like construction workers and manual labors, there are obvious hazards that could physically harm you. With office jobs though, different types of health hazards sometimes aren’t as noticeable.

If you have employees continually calling in sick, that will cost you money down the road. To help prevent that, create a healthy work environment for everyone in the building. Global Resources LLC has a few ways you can make your office healthy for everyone around.

Have Clean Air

The indoor air quality is crucial to the health of employees, especially if anyone has underlying health issues like asthma and allergies. There are environmental triggers everywhere, especially if there is poor circulation in the building. These triggers can cause headaches, flu-like symptoms, and even affect your focus levels.

Make sure the building has proper circulation to prevent the air from turning stale. Install air purifiers if you need extra help, especially by those with health problems.

Offer Different Desk Options

The amount people sit through the day at work can significantly affect their health, and not in a good way. Being too stationary can cause issues with your hips, back, legs, and end up being very uncomfortable. An uncomfortable employee will likely have a harder time focusing at work.

Offer different desk options besides a simple chair and table. There are standing desks that stop people from sitting for too long. You can offer chairs in which you sit on an exercise ball to help with posture.

Have an Exercise Room

Sometimes, all people need is to get away from their desk for 15 minutes and go for a quick run or pick up weights. It’s essential that you encourage employees to squeeze in mini workouts throughout the day so that they’re not sitting all the time.

You can do this by having a small workout room with a variety of exercises available. Alternatively, you could schedule stretching times when employees are encouraged to get out of their chair and stretch their muscles.

Offer Healthy Snack Options

If you have a break room with snacks and a vending machine, fill them with healthier snack options. Going for chips and candy bars may seem like it will give you the energy needed to make it through the rest of the day. However, they only give you a minimal amount of energy before weighing you down.

Stock the break room with fruits, vegetables, and other foods that help promote brain power, energy, and a healthier lifestyle.

Encourage Positive Mental Health

Mental health continues to gain the spotlight in our daily lives and is a necessity to pay attention to. Mental illnesses can be just as troubling, and sometimes even worse than a physical illness or injury. Keeping an office that encourages positive mental health is crucial.

Encourage your employees to have open communication lines between each other and with management. Offer training sessions on mental health and triggers to watch for. Bring in a professional to offer services during stressful times of the year. You can also bring in meditation courses to help keep employees calm and at ease.

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5 Warnings Telling You to Look for a New Job

When you start a new job, you usually don’t start with the intent that you’ll eventually quit. We want to find something that we’ll enjoy for a long time. However, that isn’t always the case.

There will come a time when you’re at a job that you just no longer enjoy anymore. Warning signs eventually pop up that tells you to look for a new job. Global Resources LLC Reviews has a few of those warnings signs that you should take seriously.

 

You’re Thinking or Talking About a New Job

One of the most straight-forward warning signs that it’s time for a new job is when you start thinking or talking about it. Now, if you have a bad day at work and think now and then that a new job would be nice, that isn’t to say you should follow it. Bad days happen, and it’s normal for people to feel that way.

However, if you continually feel this way, there’s a good chance you should listen to your gut and start looking for a new job.

You Complain About Work a Lot

Again, there will be bad days at the office in which you want to come home and vent about work, and that’s okay. It would be best if you got that stress out. However, if you rarely have any good conversations about work anymore, that’s a red flag telling you to consider looking for a new job.

You Can’t Sleep

Sometimes, something happens at work, or you have to prepare for a major presentation, and the stress affects your sleep. If this happens on a regular basis though, take it as a warning sign.

The stress of work shouldn’t get so bad that it causes you not to sleep. Lack of sleep will only cause more issues down the road. If this is happening to you, seriously think about your current position and if it’s a right fit for you anymore.

You’ve Lost Your Passion

If you first started work very passionate about it and was focused 100 percent of the time, and now you can barely stay focused for a couple of minutes and are bored all day, you’re likely checking out of your job. Take it as a warning sign that you no longer have the same passion for your work.

However, don’t let one dull day make you think you need a new job. There will be days in which the work just isn’t engaging, and you’d rather be doing something else. It’s when this starts to happen every day that you should start taking it as a sign.

You Dread Going to Work

A job that you enjoy shouldn’t be something you dread going to. You should want to go to work and perform your job because you genuinely appreciate it. If you’re hitting the snooze button as long as you can, showing up late and dragging yourself through the doors, you’re likely not enjoying your job anymore.

 

Even though all of these warning signs will likely happen to you at some point in your working career, that isn’t to say you need to look for a new job right away. When you start to notice them, it’s a way of telling you to re-evaluate your current job situation to see if you’re pleased with where you’re at.

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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.

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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.

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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.

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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.

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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.

 

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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.