Date: January 26, 2019
Time: 8:00 am
Event: Pink and Pearls Girls Conference
Venue: Community Congregational Church
Location: Montgomery, AL
Public: Public

Are you looking for a speaker for your upcoming event? www.reginacoley.com/speaks

Keeping Tighter Control Of Your Business Finances

In order to make money, you have to spend money. This is a simple fact of life. The ratios for each side of this divide might be different depending on the career you take. If you’re a recording artist, it might be that simply singing is enough to earn you a decent amount of money, accompanied by the expense of instruments and recording equipment. If you’re a business, there’s a chance you might make a loss in the first few years of opening, hoping that as your business grows and generates an audience, you will begin to justify your presence completely.

Businesses live and die by their financial management. Even businesses with a coveted and respected product can find themselves in financial difficulty if expanding too quickly, if experiencing a large financial dip due to a mass staff exodus, or perhaps a PR nightmare. Keeping tighter control of your business finances can sometimes be one of the most rational things to take care of if your business is struggling, and sometimes it can be best to offset that to someone trustworthy. For this and more, consider my advice:

Access Permissions & Expenses

It can sometimes be that staff seem to take write-off expenses with a little too much freedom. Be sure to verify any purchase that seems overly surplus to requirements and don’t be afraid to quiz them on it. It can also be worthwhile to consider just who has access to certain elements of your budget. It’s not unheard of for small, unnoticed embezzlement to take place across years, totally a relatively hefty number. Developing your best business sense can often mean simply ensuring that you have more control over your finances, where they go, and exactly what intended result you have for their use. A little more accountability can often go a long way here, so be sure to exercise it to the extent you feel most appropriate.

Consultancy

Consulting with an excellent financial manager, hiring that role internally, and ensuring all tax exploits are conducted through an outsourced accountant you are willing to build a relationship with over years can prevent you from worrying about your sources of income, and instead give you the means to feel the financial security you should be enjoying as you expand your small firm.

Banking Systems

Banking systems matter, and they can have a great impact on the ease and utility of your financial management. With a useful and for-business online business account, you will find more ease managing stop payments, referring to your statements, ensuring the immediacy of your wire transfers and enjoying quick processing for accounts receivable. Sometimes the most appropriate method of financial management is ensuring the foundations are rooted in reliability, and this is perhaps one of the best methods of doing that. Be sure to assess your banking system every few years for its competitive nature, as business banking is often coveted by these firms.

With these tips, keeping tighter control of your business finances is sure to be a wise option.

3 Ways to Grow Your Business Faster

Everyone who starts a small business has big dreams. Everyone. They want their business to grow and grow and grow until it is a big amazing company that people know and which brings in a good income so they can make a good living and perhaps do something good with some of the profits. Unfortunately, scaling a business is not easy, even when the products/services are good and everyone involved is dedicated.

It takes a lot of hard work, and if we’re honest a little luck, to successfully grow a small business into something bigger, for sure, but there are some things that you business owners can do to sway the odds in your favor AND help your business to grow faster than it might otherwise…

Build an Amazing Sales Funnel

If you want to see fast growth in your business, you need an effective sales funnel. If you do not build one, you will be dwarfed by your competition who do. Sales funnels enable your business to work effectively with a greater level of automation, which means you save money and resources, while still making sales. You can find out how to create a sales funnel at https://www.businessknowhow.com. Do it now and you will be well on your way to more sales with a minimal amount of investment.

Capitalize on Trends

If you want to see short-term growth and make enough money so that you can invest in your business long-term, one of the things you should consider doing is capitalizing on trends. Trends come and go, but if you get in on them at the right time, you can make a lot of money and get your business’ name known. If you visit trimleaf.com, you will see an example of one company who has done this to great effect. Capitalizing on the fact hydroponic growing has become very popular, and the fact that CBD is a big wellness trend, to sell related products and services that are popular.

Of course, if you already have an established business, you can’t just change it to start selling CBD or, say flares, because they’ve suddenly gained popularity again, but what you can do is look at what you do and work out how you can create related products and services that will appeal to the same market. If you crack this, you will be able to grow and save and capitalize on a trend while it is happening, which will only benefit your business.


Monitor the Competition

Monitoring the competition is an excellent way to improve your own business. By looking at their ads the platforms they use and who they have on their social media (to start with) you can see what is working for them and what is not. You can then use this information to do more of the right stuff and less of the wrong stuff to boost your bottom line.

It is important, however, that you do not copy them. You need to create your own unique business that has something different from the rest to offer -a unique selling point to draw them in. However, you can do this while emulating the competition’s successes and avoiding their failures.

Question: Do you currently have a sales funnel for your clients and in your business?


Essential Considerations To make to become a Stronger Entrepreneur

If you want your company to be more successful then you should work on yourself as its leader. These are the essential considerations you need to make to become a stronger entrepreneur.

Protect your finances.

If your company is going to protect its finances then you first need to learn to budget. It’s not enough to simply make money in business. A strong entrepreneur also knows how to spend money. If you’re a little off in that respect then start by tracking your company’s expenses. Is every cost essential? Or are you cutting into your profit margins for investments that are adding nothing to the business? To halt wasteful erosion of your margins, rethink your expenses regularly. Stop using paper. Use a coworking space rather than renting a private office. Find a cheaper supplier. These are all ways to improve your business’ financial situation.

You should also protect your finances in a legal sense. Many businesses in all manner of industries have failed not because they had a bad product or too few clients but because they incurred legal costs that bankrupted them. As a small and slowly growing business, your funds are probably quite limited. If you want to protect the earnings of your company then you need to make sure you do things by the book. You also need to notice situations in which your business is the victim of some sort of malpractice. You might want to get legal help with business litigation if that’s the case. With professional assistance, you can make sure that you get the compensation you deserve. More than that, you’ll be protecting your brand and opportunities for future success.

Appreciate your team.

This is another crucial element of a strong company structure. You can’t have a successful business without a successful workforce. But you need to appreciate your team if you want everyone to work hard. Taking your employees for granted will only lead them to take your business for granted. The easiest way to ensure productivity levels remain high in the office is to motivate your workers. Give them rewards for their efforts to encourage them to put in the extra work. You could even spruce up the office to show your members of staff that you want them to work in a pleasant environment. Of course, it’s also worth having a strong HR department to focus on the people-related aspects of your company. Whatever business changes you make, just factor your team into the decision.

Be a passionate leader.

This should go without saying, but every business needs a passionate leader. Maybe you keep having great ideas regarding products, services, branding, and networking. However, that’s not enough. Asking yourself whether you’re a passionate leader is one of the most essential considerations to make as a strong entrepreneur. In other words, you need to be the boss of your company rather than simply the innovator. Having creative ideas is important – that’s why you started your business. But you can only be successful if you make those ideas work in a practical way. That means you need to be able to organize and manage a team which will help you to make your dreams a reality.

Top Three Concerns In Your Business

If you are thinking of starting up your own business, you are probably wondering about just how much there is going to be that you need to focus on. The truth is that there is plenty, and you need to make sure that you are going to be truly ready for whatever challenges might beset you in the first few months of doing business. As it happens, there are a few concerns in particular which you are likely going to have to focus on in order to make sure that you can run your business well, and those are what we are going to look at in this post. What follows are three of the top concerns which you need to think about and be prepared for when you start up your first business.

People

It’s unlikely you are going to be able to get very far without any help from others, so you will need to think about hiring one or two people at least begin with. With larger operations, you might even be thinking about hiring more than that. However many people you do hire, even if it is only one, you will need to make sure that you are truly in charge of the human resources behind it, and this is something which can be surprisingly difficult to get right, no matter what kind of experience you might already have. It can be made significantly easier with the use of HR management services, so it is worth looking out for that, and you will also find that it is better to follow if you hire an HR manager to specifically look after it all. As long as you are taking care of your people, you are taking care of your business.

Budget

Without a budget, it is much less likely that your business will do as well as you would hope, so this too is something that you need to be focused on well in the early days. A budget should be as detailed as you can manage, and it should include some back-up or plan B possibilities, so that you can be sure you are going to put the money inthe right place. Because a business is built on money, getting this wrong can easily mean that you are not going to have a business at all further down the line, so this is something that you really want to be sure of from the start. If necessary, get some professional help on this front too.

Product

Without a clear notion of what your product or service will be, you will find it much harder to get marketing your business, and to generate any excitement about it at all. You should make sure that you know what you are actually selling, and if not then it is time to start thinking about it and try to decide on what  you are actually going to be providing your customers. You should be happy with the product you are selling, as if not you will find it is much more difficult to truly enjoy it.

The Best Leaders Share Those Traits

Leaders are more than managers. A leader doesn’t only know how to run a business; a leader also understands how to get the best out of the primary business asset, a.k.a. the employees. You need to think about the leader as a catalyst that brings the strengths of the company together to create something powerful and positive.

As a consequence, successful leaders need to understand the personal side of the company as it’s where they will be able to assess their beneficial influence.

They care about people

The first rule that all leaders need to obey is to care about the people around them. Indeed, every member of your team matters, and consequently, you need to learn to treat everyone the same, regardless of their skills, job title or social standing. At the heart of it, you can’t expect your team to respect your leadership if you differentiate employees or grant preferential treatment to some but not others. Accepting that those around you have opinions, fears, worries, questions and that all input is valuable will make a significant difference to your professional relationships.

They never stop learning

You might have been an expert in your niche when you first started, but it doesn’t mean that you know everything there is to know in your sector. Indeed, while you can rely on your team to tackle day-to-day tasks, as a leader, you need to ensure that you’re always in touch with your market. A leader who doesn’t understand the latest trends risks driving the company to a standstill. Instead, you can regularly update your skills using online learning programs – If you unsure where to start, take a look at the Illinois Aspire review for Skillshare which explains the advantages of skills cultivation within the Skillshare community. From discovering new web design approaches to exploring the benefits of creative writing, the more you know about your market, the more relevant your leadership will be.

They are not afraid to ditch old ideas

Leading is about keeping a foot in today’s market and an eye on the horizon to spot the changes before anybody else. As a result, successful leaders need to know when it’s time to abandon old strategies. For many, it’s a difficult task, as you might be tempted to hang onto your ideas for as long as possible. But ultimately, moving forward is about evolving. Steve Jobs was, by far, one of the most admired leaders for his abilities to get rid of loveable technologies and strategies that he knew were not going to be profitable anymore. In 2002, he organized the funerals of Mac OS9, a tongue-in-cheek presentation in which he encouraged his team to look toward the future.

They listen to others

Last, but not least, leading doesn’t mean you’re right all the time. If you want to establish your position as a respectable leader, you need to be open to criticism and comments from your team. Listening to others can help you to avoid costly mistakes and miss opportunities.

The question for many entrepreneurs is not whether you’ve got what it takes to drive your company to success but whether you can do what your team need to lead them to success. Leaders are above all carers who are not afraid to admit they don’t know everything and to take their team through strategic transformations. Lead not only with business know-how but also with respect, humility and innovative creativity.       

Kitting Out Your First Office

If you have finally taken the plunge this year to start your own amazing business, one of the things which you can get excited about is decorating the space. When you first buy or rent an office it can be a great thing to do and you can spend a lot of

Time coming up with fun ways to decorate it and make it stand out. Here are just a few of the things you’ll want to do when kitting out your office for the first time.

Get furniture

As soon as you step into your new office for the first time the most crucial thing you need to do is kit it out with furniture. This will include anything from chairs and desks to light fittings and kitchen accessories. It might take some time to find everything you need for the office but it will be a fun experience and you’ll really be able to play around with the type of setting and style you want.

Make it homely

You’ll be spending a lot of your time in the office and because of this it is super important that you take the time to add some home comforts and things. This can be anything from cosy cushions for your chairs, a sofa area for people to sit at during the day and a garden outside for you and your workers to allow you to get some fresh air. All of these things can make a big difference to the home and they will allow you to have a space which is comfortable and much more productive as a result.

Buy stationery

Once you have the layout and basics for your office, you are going to need to pay for stationery for your staff to use day to day. This will include anything like pens and pencils, notebooks, staplers and hole punchers and other items for the workplace. You can visit this Website to make sure that you get everything you need for the home.

Add some branding

Branding is super important for any office and if you want to make a great impression with your workers and visitors, branding can be a great thing to work on. For example you can add a large LED sign in the office with your logo or brand name on. You can have a sign outside of the office to direct people and show them who you are… there are a lot of options you can use for branding and they will all be useful when it comes to your reputation.

Gather technology

Now that everything else is in place, it’s time for the final piece of the puzzle in your office. As we know, technology is a huge part of our offices these days and it will take up much of your budget and your space. If you can buy in bulk you’ll be able to save some money on your technology and you can also think about buying software packages for the office too.

Diagnosing The Cause Of Team Friction

If you’re sensing friction in the team, it’s good to get to the bottom of it as soon as possible. The longer a mood or trend is allowed to stay in the workplace, the more chance it has of becoming the new status quo and part of your company culture. Here, we’re going to look at some of the three issues that can lead to team friction and, in most cases, they are caused directly or indirectly by errors in leadership.

Getting responsibility and accountability wrong

A manager or leader who is quick to point the finger or pass the buck creates a team that is very likely to do the same. By not accepting responsibility for the failures of the team, you make responsibility something to be feared. If you create an environment where people feel safer to admit to their mistakes, they will allow themselves to be held accountable, allowing you to address the real causes of failure. Otherwise, team members are more likely to turn on one another in the hopes they don’t get caught in the crosshairs.

You need to rethink your hiring

When you’re hiring the team, creating an accurate job description and finding those with the skills and qualifications to fill the role will naturally take top priority. However, it shouldn’t be the only priority. When coming into a job, candidates should also recognize what kind of team they will be joining, how much work will be done alone or with others, and so on. Quality of hire is about ensuring they’re a good cultural fit, likely to be engaged with their work, and understand the company goals and how they will be contributing to them. By making it clearer what you’re looking for beyond the actual work done within the role, you can find those applicants who belong on your team.

They need better management

Autonomy can afford your employees a great deal of freedom over how they do their work, allowing them to find the most productive ways to do it. However, too much freedom and they may instead lack direction or feel like you simply don’t care about the work they do or the role they play in the team. As such, they will be less engaged and less motivated, which affect the rest of the team like ripples across a pond. Learning how to manage employees effectively, by communicating with them more often, delegating work effectively to those best suited to handle it, and providing an example for them to follow can have a powerful positive effect on the culture in the workplace.

The sooner you identify the issues leading to friction amongst the team, the sooner you can start stamping them out. Whether it’s adopting a new policy of ensuring commitment and responsibility, giving your hiring practices the time that they need, or learning how to better manage, the most effective changes from the top down. Outside of purely personal issues amongst co-workers, these are the most likely issues to erode team cohesion.

Learning How To Be A Good Business Person (And A Good Person)

As parents or guides we have to ensure, that our children go into business or start on the path to leadership, we imbue them with the right goals and attitudes. As a result, we set the example. If we run in business circles, all those board meetings and micromanaging people can, over time, turn us into something a bit inhuman. As the expression goes, it’s not personal, just business. But taking this home with you and letting it color aspects of your life is not on the agenda. How can you learn to be a good business person but also a good person?

Consistency Across The Board

Treating people the same is a lot harder than it sounds. However, this is the underlying component of an effective business person and person. If you find yourself treating people in different ways, either because you perceive them to be less intelligent, or there’s something about them that you don’t quite click with, these perceptions are going to increase over time. It’s not easy, but you need to stop it now. Treating people exactly the same in business and life won’t just make life easier for you, it’s a way of communicating honestly across the board. After all, it’s more exhausting to be untrue and harbor secrets. By treating everybody in the boardroom and in life the same, it’s consistency in the best way.

Learn How To Care

We can spot people from a mile off when they are talking to you when they’re paying lip service and have no interest in what you are saying. Those people that are truly interested in what we have to say we hold in more regard. This is a trick that many presidents have utilized, either because they’ve learned it or it’s just a part of who they are. Whether they are speaking to the Sultan of Brunei or Santa Claus of the North Pole they have the same amount of focus and attention on what the other person is saying. Try this exercise: every time you notice yourself mentally drifting off when someone is speaking to you, refocus and recenter. You realize over time just how much you’ve been ignoring people, and how much you haven’t cared about what they’re saying.

Practice!

It’s difficult to be authentic when you haven’t been before, and it’s an aspect of personal growth that we have to invest in. Learning how to calm ourselves down in life, so we can focus better and stop that inane chatter in our heads can teach us how to be in the present moment. This will turn us into someone who is more naturally caring and a person who treats everyone the same. Being a good business person is all about harnessing relationships. Yes, there are deals to be done and politics on occasion, but surely we can learn from the best leaders, past, and present, and see what made them a good business person as well as a good person. They say if you want to be a good business person, you’ve got to be a good person first. So let’s start right now and be a better one.

Four Things Entrepreneurs Need to Succeed

Some people like to think they’re a natural born entrepreneur, but actually, this isn’t always the case. It’s more than they’re attracted to the financial or socially rewarding aspects of running their own business. One of the reasons why so many new companies fail to make it past their second year is because the person running the show wasn’t cut out to be in charge in the first place. There are certain things that an entrepreneur needs, as we’ll see below. Make sure you’ve got all of them in your toolbox before you undertake the challenge of starting your own business.

A Willingness To Learn

An entrepreneur who goes into their venture believing that they have all the answers is doomed to fail. Not even the most experienced business men and women are anywhere close to having all the answers; a person who is new on the scene stands no chance. The truth is that it’s not overly important how much you know when you begin, but how willing you are to learn as you go along the adventure. Do your best, and keep your eyes and ears open – it’ll serve you well.

Trusting Others

If your business is going to reach its full potential, then you’ll need to hire employees. This is where many entrepreneurs make mistakes. See, they don’t really want to hire an employee: they just a machine to do exactly as they demand. Taking this approach will get what you asked for, but what you asked for won’t be much to speak of. If you’re going to welcome people onto your team, make sure they have the space, platform, and support to deliver their best work. To take any other approach is to limit the potential of your business.

Connecting With Others

In a similar vein, you’ll also need to work with other companies. No-one builds a successful business without the help of other enterprises, who can often provide ways to fill in the gaps of your company. You’ll be well-served by outsourcing certain tasks to other businesses, such as your IT Solutions, human resources, marketing, and financial affairs. In so doing, you’ll gain access to the best talent around, and also make your small business seem much larger. These companies will be able to help achieve success much earlier than if you did everything by yourself, so make sure you’re making the most of the potential.

A Work/Life Balance

It’s understandable that an entrepreneur would have a one-track mind. All they can focus on is their business and making it as good as possible. While that might sound like a noble approach, it’s actually not as effective as they might like to think it is. Building a company requires energy, and if you’re constantly pulling twelve hour days, then your energy will soon be gone. Even though it might sound counterproductive, take the time to figure out a healthy work/life balance. You can’t throw yourself entirely into your work, no matter how much you’d like to.