Your employees make your company successful, so why not show them that you value their work? Giving raises is one of the best ways to show your employees that you care about their dedication and hard work. Not only will raises motivate employees, raises can also help your business. Employers often use raises as a way to increase retention at the workplace. When you offer a competitive salary or hourly wage, employees will not look for work elsewhere, which prevents turnover. This will save you the trouble of having to find and hire new employees.
Category: Business Management
Contributed by Daniela McVicker
The difference between an entrepreneur who succeeds and one who doesn’t is often in the planning process. To get your startup off to a good start, you should create a step by step business plan. Think of a business plan as a road map. This road map will help you maintain your focus as you work as well as prove to investors that your business is a great idea.
There are plenty of templates which outline the most common business plan steps but, unfortunately, these don’t take your unique needs into consideration. There is no one size fits all solution when it comes to preparing a great business plan. Use the following seven steps as the framework for your business plan.
Bad reviews are always pretty horrifying for a small business owner or head of marketing when one hits their inbox. There’s this heart stopping feeling like your reputation is ruined and the business will cease to grow.
While bad reviews can indeed make your product or service look bad, these days, negative reviews are just a part of doing business. It’s best to keep calm and deal with them methodically, rather than freak out and make a rash rebuttal.
Contributed by Dennis Hung
The landscape of the modern-day workplace has evolved over the years. There is less gender-bias now than in the past and so women have more opportunity in business. According to The 2017 State of Women-Owned Businesses Report by American Express, 43 percent of all U.S. businesses with 50 to 99 employees are run by women. Like their male counterparts, these empowered female entrepreneurs must secure funding to get their business idea up and running. The good news, however, is that women entrepreneurs often have an easier time at raising capital than men for many reasons.
Contributed by Julie Petersen
Entrepreneurs are well known as passionate and proactive professionals who are able to put business ideas into practice. This is a talent not everyone possesses, just like writing is a talent not all entrepreneurs possess. It is, however, a very important skill to master. Entrepreneurs can be so much more effective when they learn to express their ideas and passions in writing.
If you’ve got a startup or you’re starting up a startup, you’ve already got a great product worth selling. You are probably working hard to promote it too. The basic to-do list is in the bag, but there are a lot of details that only experience and the wisdom of others can teach you. Here are some things I’ve learned from our CEO and other business owners about the challenges of running a small business.
Contributed by JT Ripton
The balance in power has shifted. In the past, businesses provided customer service but were free to set their own tone and level of engagement. If a customer didn’t like being put on hold, pressing endless options, or repeating their information to countless reps, there was more or less nothing the customer could do.
How times have changed.