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Achieving Success in Business Management

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The place most people learn business management is in colleges and universities. They take courses in everything from business operations, business, strategy, marketing, sales, accounting and customer service. These multi-year programs can prepare the student for what will hypothetically come when they are on the job.

If you speak with those like successful business manager Larry Polhill, they will tell you that the real world was quite different that how things looked in school and their real education came while they were working at a company.

This is primarily true because there are some things involved in business management that you must learn on the job. One is the speed with which things occur. Different issues happen at a business in timeframes that are completely irregular and sometimes with each demanding a different skill set and set of tools to solve the issue. A second is the randomness of so many business related issues. You can do something perfectly every time, yet one time it simply does not work and there was no indication that there was even a chance for failure. This occurs because most businesses have constantly moving parts that need to be watched but also given room for their eventual failure.

So until you are on the job and at the business, everything is guesswork to a certain degree and this is why you need to be prepared with a set of skills and approaches that can assist you in any situation. Here are some of those skills and approaches:

Create a company culture that includes responsibility, transparency and consistency.

Employees agree to work at an organization for various reasons but the ones that are always included involve their ability to count on the organization to be transparent, consistent and responsible. These three qualities give employees a sense that the company has their best interest in mind and that if things take a turn for the worse they will know it and understand why. Companies that do not make these qualities a core component of their operating strategy either lose employees consistently or have to go to extraordinary lengths to hold on to their employees. This additional time spent can be sued to focus on other things important to growing the business, so their absence is usually very costly.

These qualities must start at the top down and permeate every level of the organization and everyone must be accountable to them. Sometimes business managers think they can exempt someone because that person has a special title or brings lots of revenue into the company, but this is a recipe for chaos and unhappiness and it creates behaviors that run counter to the success of the business. Additionally they must dictate how you interact with your customers and key partners. This approach sets a great tone for your business and creates an environment where your company and its stakeholders can depend on the relationships with those who cause your business to be successful.

Make a Realistic Plan with Execution Steps

For any business planning is essential. You need to lay out where the company is, where you are going and how you intend to get there. This gives everyone in the organization a clear idea of the company goals and their roles in the success of those goals. As a further step, you need to lay out an action plan for achieving those goals. This plan can be placed against the actual happenings at the business as a barometer for how things are actually going. Too often there is miscommunication about objectives at a company and having things committed to paper alleviates and stress about who said what to whom. Get into this practice and demand that others in the company do as well and it will pay off for everyone.

Business Management is a tough and demanding job but if you have tools and strategies to assist you the job becomes much easier.

Reducing Shrinkage in Your Store, How to Get It Done

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If you are a small business owner then you need to be concentrating on every cent that comes in and goes out of your business. Despite meeting so many people through my line of work who focus wholeheartedly on their bottom line, it always surprises me how few of them focus on shrinkage within their business.

Shrinkage is unknown loss in the business and in the main this can be put down to theft, poor practice or damage. Within this, I work mostly in helping business owners reduce theft and stopping them from being exposed to shoplifters. Recently I have been working with John Bradberry Charlotte NC resident and security expert on some stores in a shopping center in Charlotte, helping small business owners to focus on shrink and protect their stock.

Training Your Staff

One of your best weapons against theft is the service which your staff can offer the customers as they are walking through the door. The reason why this is so effective is because thieves do not want to be bothered, especially not by a smiling face asking them what they need. Staff should also be ever-present on the shop floor and be vigilant throughout their shift for anyone who looks out of place or indeed as though they are up to something.

Targeted Protection

Understanding what goods are being taken from the business is massively important and you can use stock counts to highlight what it is that is going missing. Throughout this process, you will be able to be far more effective at targeting at risk products in your store and finding ways of making them less exposed for shoplifters.

Product Protection

If you sell high value items then you should have processes in play each day that have staff checking the product protection and ensuring that everything has stickers and alarms on it. You should also be regularly moving the products in your store about and removing the possibility of blind spots within your store which will invite thieves to go about their business in peace.

Investing in Security

Investing in security cameras and security staff for your store amy cost you a bit of money up front but in the long run it could sea you a great deal of money and it is well worth doing. Not only do methods such as these deter shoplifting, they can also help you to catch a shoplifter in the act. Very often small stores are targeted by the same thieves and catching them could cut down the shoplifting altogether.

Neighbourhood Watch

If you are on a high street or in a shopping center then you should be working with your neighbours to ensure that the area is trying its best on the whole, to reduce theft. Sharing information is vital to everyone being on the look out and you should be working as a team to eradicate theft from your stores.

Changes To Make So That Your Hotel Attracts More Customers

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As a hotel owner, you may feel that you do not have the time to make changes in your hotel or to look at how you can push for new clients. This is the trap that many owners fall into and it is vital that you find a way to step back and take a look at the big picture when it comes to how your hotel is doing.

On you take this time out, you will be able to ensure long term success for your hotel and you will be able to avoid spending your day putting out fires. Let’s take a look at some of the changes which you can make to encourage more customers.

Accessibility

Disability accommodations are very often hard for disabled people to come by, so much so that there are actually specific websites for those who are disabled, so that they can find the hotel that is perfect for them. This is a huge market that you can tap in to and if it is not already, you must ensure that your hotel is fully geared up for people who are disabled and for people who use wheelchairs.

Online Presence

If you are not pushing hard online then you are going to lose out on a great deal of potential clients and you need to start right away and growing your online image. Most people book hotels these days based on what the internet says about them and if you want to generate more customers through your doors, you too will need to push when it comes to how you are perceived online.

Fixes and Engagements

Once you are working hard online, or even if you have an online profile already, you must engage and address any concerns which people may have after they have stayed in your hotel. As the owner, you should take at least a couple of hours out of your week to sit and read through the comments that people have made about your hotel. If they are unfounded, comment, if they are complaining, fix the issue and offer them a discounted stay, if people are happy, thank them and if someone had a terrible time, offer them a free stay and personally make sure that they enjoy it. Word of mouth is more powerful than it has ever been and if you are not responsive to this, you will see less and less clients in your hotel.

Audit

To ensure the best possible hotel experience, you should constantly be auditing each room and service area in your hotel. Ideally you should choose someone who is not linked to the hotel and ask them to come and audit for you. Doing this once a month or so can make sure that you are giving your customers the cleanest and most comfortable hotel experience that they could possibly ask for.

Take you head out of the daily minutiae and focus on pushing the reputation and service of your hotel if you wish to see more people through the door.

3 Reasons Why Beacon Resources Is Your Top Financial Recruiting Firm

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Whether you are seeking work in the finance sector or ready to bring talented people on board at your financial firm, there are probably many concerns on your mind. The most pressing one is almost certainly how and why you should feel confident in good outcomes. Positive results happen frequently at Beacon Resources, a leading financial recruitment firm.

Strong Foundations in Southern California and Beyond

Our Beacon Resources team recognizes that mutually beneficial, long-term relationships are a primary factor that makes the establishment successful. The company laid down deep roots in Southern California and progressed to leveraging its expertise around the nation to assist dedicated prospective employees and employers who are eager to tap into their skill sets. The way Beacon Resources maintains a commitment to relationship building with its clients leads to prominent, appropriate opportunities for people seeking work and companies that are prepared to provide it to qualified candidates.

Our Recruiters Have Experience You Can Trust

Working with Beacon Resources gives you immediate access to the best finance recruiters who possess strong understandings of how the finance and accounting industries function and the pressing needs present within each. All our expert recruiters have substantial experience in the finance industry and some have worked within it to gain practical insight. They pass that knowledge onto you regardless of if you are looking for an ideal next job or need to fill an open position with a well-suited candidate.

A Proven, Hands-On Methodology

The people working at a company help define it and shape its future. Our all-encompassing and highly involved method of connecting employees and employers enables companies to prosper and helps people with financial-related educations use what they know in environments that fit their personalities and abilities.

These are just a few of the reasons why Beacon Resources stands above other financial recruiting firms. Reach out to one of our expert recruiters today and learn more about what we can do for you.

Top Online Marketing Trends in 2017

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As 2017 is now well under way, it is time to review whether the lessons of 2016 have been properly implemented into your digital marketing and SEO strategy. Hopefully, you have registered with a local SEO company and they have implemented all the necessary new information, trends, and rules. But just in case, below are a few of the most important trends that you should pay attention to.

  1. Effective Engagement

Firstly, with competition becoming stronger, only those who find new ways of engagement can still make their mark. This can only be achieved by embracing any new technologies. It is important that you create a memorable and interesting experience for your audience. For many, this is achieved by using social media to share interesting videos. Additionally, they complete sponsored advertisements and you will focus on the various messaging apps as well. Some reports have shown that, if people see a vide they like, 43% of them look for more videos from the same source.

  1. Live Videos

Live video is another very important tool that you will have to implement in your social marketing campaign. This means you will deliver interesting content as and when it happens. Make sure that you work together with an experienced digital marketing agency for this element, as going live also has a number of dangers, not in the least accidental bloopers (which can sometimes go in your favor as well!).

  1. Native Advertising

Native advertising is quite an old way of advertising, but it is making a comeback. Banners are still great ways to pitch products and services online. It is an opportunity to share interesting and meaningful content. The difficulty is creating something unique, however.

  1. Responsive Designs

Websites now have to be mobile responsive is they are to be relevant. There are now 7.22 billion active mobile phones in the world – pretty much as many as what there are people – and they love going online. In fact, in 2015, 2 billion people searched the internet through mobile and, today, that stands at 4 billion, a doubling in just two years.

  1. Augmented Reality

Augmented reality is one of the most modern technologies out there. Progress has been somewhat slow, but it is being made. If you get in there now, you will instantly be ahead of the competition. Augmented reality allows your customers to digitally try before they buy.

  1. In Store Marketing

Last but not least, businesses are starting to focus back on their in store marketing as well. While customers are attracted by websites, and look for an enjoyable experience, those that do have a physical store do also want customers to come in there. There seems to have been such a focus on all things digital, that some businesses have forgotten about that. Don’t be one of those businesses and make sure that your physical store is attractive and delivers high quality customer service.

Consumers today have high expectations and only those businesses that can meet those will continue to be relevant.

What Is UEBA and Why Does it Matter

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Have you heard of user and entity behavior analytics (UEBA)? If not, then it is time you got on board with it! Basically, it is a technology that helps you to identify attempted security breaches before they actually make it through. It does this by developing a baseline of activity, something that it classes as “normal”, and that instantly identifies anything that moves away from this norm. It is used alongside other forms of technology and works particularly well in organizations that produce and store a lot of big data.

Why Does UEBA Matter?

We live in a world where attackers have almost made a game of trying to breach through various defenses. Web gateways, intrusion prevention systems, and firewalls are all important, but they simply aren’t enough anymore. Today, organizations, and particularly large ones, have such a vast, jagged, and porous IT perimeter that it has become almost unmanageable. Security experts, managers, and executives, therefore, are having to look at it from a different perspective. No longer can they focus only on prevention, they must focus on detection.

The tools and technology that are available today are important and powerful, creating logs and alerts, but they are also significantly lacking. This is because they focus on strict and simple rules of correlation, and experienced hackers can easily evade these. This is because existing systems focus on real time actions, when today’s attacks often take several months to complete. A good UEBA, by contrast, doesn’t rely on rules or signatures. Instead, it uses a variety of risk scoring methodologies and algorithms to figure out what is really happening.

Understanding the Behavior Graph

UEBA is a completely unique approach to security as it uses what is known as a “behavioral graph”. This creates a visual picture that enables people to track and detect threats. This ensures security analysts can always see their entire IT environment and what it should look like, so that they can easily spot any anomalies. This makes it more accurate than any other solution has been able to achieve to date. This is interesting, since UEBAs were originally developed to gain a greater understanding of consumer behavior, not to provide a security feature.

One of the key things that UEBAs do, is to generate a risk score and to create these for a range of different types of entities. These findings are then instantly communicated to the relevant analyst. They look at individual entities, but also collections of entities and, in so doing, they can determine how big a risk actually is, so that a security expert isn’t contacted every time someone accidentally allows a popup on their computer, for instance. Rather, it will highlight potential lateral movements, malicious beaconing, data exfiltration, and data staging instead. Those are key signals that something is actually going wrong and, by providing security experts with those signals as and when they appear, there is a far greater chance of plugging a potential hole in the security before someone actually manages to get through.

What Is the Role a Public Relations Firm Can Play?

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Do you the role that a PR firm can play in improving your organization? To better understand that, you first have to gain an understanding of what PR is. PR, which stands for “public relations”, is both an art and a science. Specialists get to work on developing a positive brand identity, helping you to build favorable relationships with your chosen audience – the public. This is why it is called “public relations”. Essentially, therefore, they want to make sure that people get to see you in a positive light, trusting you to do what you say you will do.

Understanding PR

PR firms do a lot of different things, all targeted at making sure you, be you an individual, business, or group, develop a positive image among the general public. They communicate information about you, what you stand for, what you do, and who you are, in a way that makes people accept you. They also work on resolving any issues that exist that may cause you to not have a positive reputation yet. They are not advertisers, however, as their goal is not to push forward a specific product or service.

Instead of trying to increase your sales, a PR firm wants to increase your goodwill. Naturally, if goodwill increases, sales usually also increase. However, that isn’t what a PR firm works towards. Rather, they want to make sure that the public knows that you are a genuine expert in your field. They do this through community service programs, speaking engagement, press conferences, news releases, and so on.

What few people know is that a company’s HR department is essentially a form of PR. This is because their goal is to make sure that a business has the right people, who become assets to the business through their productivity, experience, and knowledge. They are also responsible for maintaining a positive relationship between employees and the organization. They do this through various forms of communication. Additionally, they help to motivate employees to be as productive as possible, and work hard to retain them by offering bonuses and incentives. All of this put together ensures that a company has happy, satisfied, productive employees who are committed to the organization because they know it is a good one. Essentially, the HR department creates goodwill among employees, who in turn take this outside of work and create goodwill among the general public.

In today’s world, everything is about communication. Groups, individuals, and businesses can no longer build a name for themselves unless they learn how to communicate properly and where to do this. Hence, the role of PR companies has become increasingly vital in the overall success of an organization. They have important communication tools, techniques, and skills at their disposal to ensure they can manage and build relationships, while at the same time keeping the lines of conversation open at all times. While this sounds easy, it is actually a hugely complex piece of work.

The Role of Private Equity Firm in the 21st Century Economy

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Private equity is something that many of us have heard of, but few of us really understand. We know that it is important in the financial market, because it is constantly mentioned in financial bulletins and reports. However, it is also a confusing term with few people understanding just what its principles are, and how people view it. One of the reasons for this is because these types of investments are controversial, as investors like Bob Stefanowski are very aware of.

What Do Private Equity Specialists Do?

People like Bob Stefanowski look for companies that have a medium- to long-term potential of becoming highly profitable. Private equity investing is an art, as it means having to be able to find firms that are currently struggling, to the point of going under, yet that have excellent management teams in place and have the potential to become great again. Stefanowski’s role is to make sure that the route to profitability is identified as quickly as possible, so that an exit strategy can be employed and the private equity firm earns a profit.

Stefanowski’s role is not just to find companies to invest in, however. It is also to find sources of funding, which are private rather than public ones. This includes pension funds, high net worth individuals, and so on. What brings these funding sources together is that they all want to make a quick profit on any investment they make.

The Importance of Private Equity Firms

It is a known fact that private equity firms contribute greatly to the overall economy. Research has shown that they make companies a lot more competitive, and that discipline in the market is increased. In the United Kingdom, for instance, over £80 billion has been invested in this way since 1983, helping 29,500 different businesses.

So why is private equity so controversial? Essentially, some feel that this type of investment is far too harsh on a firm that is failing. Commonly, a private equity firm will sell off any assets the company has, completely disregarding how this affects the workforce. The redundancies that follow “asset stripping” are harsh, and cause individuals huge problems. This, in turn, affects the community as a whole. Furthermore, the negotiations in private equity are private, meaning others do not know what is happening.

However, although private equity investments do usually mean job losses, they also mean company growth. And when companies grow, new jobs are created. That is the harsh truth of capitalism, meaning some have to suffer in the short term, so that everybody can gain in the long term. The reality is also that, if private equity firms did not invest in struggling companies, they would go under, meaning that everybody would lose their job, rather than just a percentage of the workforce.

For people like Bob Stefanowski, one of the greatest stresses of the job is to balance the human impact and the business impact, no matter how difficult that is.

Inspirational Quotes to Keep Your Business Mind Right

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I have been a small business owner for a couple of years now and whenever I get the chance I love nothing more than going to watch someone successful in business talk about tactics and methods to take business to the next level. Last year I went to a business seminar where Curtis Luckett III was speaking and it was truly inspiring. One of the best pieces of advice that he gave us was on the theme of inspiration and how reading quotes from successful business leaders each morning, could act as excellent daily motivation tools. For that reason I wanted to share some of my favorites quotes on business in the hope that they can offer you some inspiration.

Sara Blakley, Spanx founder

“Embrace what you don’t know, especially in the beginning, because what you don’t know can become your greatest asset. It ensures that you will absolutely be doing things different from everybody else.”

Arianna Huffington, Huffington Group

“Fearlessness is like a muscle. I know from my own life that the more I exercise it the more natural it becomes to not let my fears run me.”

Ben Silbermann, Pinterest founder

“Don’t take too much advice. Most people who have a lot of advice to give — with a few exceptions — generalize whatever they did. Don’t over-analyze everything.  I myself have been guilty of over-thinking problems. Just build things and find out if they work.”

Mary Kay Ash, Mark Kay Cosmetics founder

“Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember, you can achieve.”

Jack Ma, founder of AliBaba

“Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine,”

Warren Buffett, Investor

“You only have to do a very few things right in your life so long as you don’t do too many things wrong”

Denis Waitley, Inspirational Speaker

“The winners in life think constantly in terms of I can, I will, and I am. Losers, on the other hand, concentrate their waking thoughts on what they should have or would have done, or what they can’t do.”

Nolan Bushel, Electrical Engineer and Businessman

“The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer”

Vince Lombardi, Football legend

“Winning is not a sometime thing; it’s an all time thing. You don’t win once in a while, you don’t do things right once in a while, you do them right all the time. Winning is habit. Unfortunately, so is losing”

What are some of your favorite quotes about business? Let us know in the comments section below.

Ideal Ways Freelancers Can Help Your Business

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If you are running a business on a budget, you might find it hard to hire permanent staff to help. However, you still have tasks you need to complete; all that need to be completed to a deadline. Thankfully, the world of freelancers has become a lot more widespread than previously.

There are a few areas of your business that can benefit from using freelance workers. Here are some of the ways you can use them to help you and your business.

Design

If you are planning a new email marketing campaign or a new advertising poster, then you might need the help of a graphic designer. There are many designers online that can do freelance work for a reasonable price.

Usually, they can take on a new design and have it ready in a few days. You might need to liaise with them a couple of times to finalize the design, but it can save you money on hiring a designer to come in-house.

Data Entry

A lot of companies will have data that they need to have transferred onto spreadsheets to work on them. It isn’t a very hard job, but it can be time-consuming which isn’t easy when you have a lot of other things to do.

You can hire a data entry freelancer to help you transfer all that important data, and to ultimately save you time. They are usually people who have a great attention to detail so errors should be kept to a minimum.

Depending on the amount of data you need transferring, it can take a day or two for them to transfer it. However, this is a lot less than hiring permanent in-house staff.

Virtual Assistant

The virtual assistant is one area that many companies turn to, especially if they are looking to streamline their processes. The advantage of using a freelancer is that they can work when you need them, and the rest of the time you are saving money.

They can typically help with many tasks including booking flights, arranging your calendar, dealing with emails, and even creating and sorting with invoices.

For this type of role, you need to be aware of each other’s time zones or communication could be a little difficult.

Marketing

In general, you will already have a marketing campaign in place before you begin your business. However, you may need to have it amended or reviewed at certain times so that your business is still going in the right direction.

With a freelance marketing expert, you can call them in to look at your campaign, and they can suggest ways it can be improved. They can also help you to implement some of the changes for you to save you time.

Freelance workers are becoming a normal way of doing business for many companies now. If you use the right channels, you can get a professional freelancer that can save you a lot of time and money. You can then use that money to grow your business.