Business Plans for Small Businesses
Business plans help business owners project revenue and growth, allow for future expenses associated with an assortment of potential future costs, and help them to stay on track for growth targets. Business plans help new businesses find success and successfully businesses reach the next level. Unfortunately, many small business owners have either never created a business plan or have not updated that plan for years. This can make it hard to see where the business is going and can make it difficult to track growth trends.
Benefits of Woman-Owned Business Status
There are a number of third party organizations which will help with granting Minority- or Women-Owned Business certification status. The process for getting this status can be rigorous, and involves meeting a series of stringent requirements to prove your business is truly Minority- or Women-Owned, and not simply a situation where a spouse “owns” the business in name, however has no decision making abilities.
Leading Through a Merger
In the current economic environment, it seems to make more sense than ever for companies to merge with or acquire their competition. This has led to a number of instances where employees become entangled in the complications of a merger or acquisition, without any idea of what their job will look like, or an assurances they will have a job, when the dust settles. This can lead to low morale, reduced productivity, and ultimately to the best talent on your team leaving to go to other firms. And while there is a more negative sentiment among employees of a company being acquired, as there is a likely chance they will be dismissed or forced to change, even employees of the acquiring firm are going to have doubts, reservations, and new needs.
How to Improve Internal Customer Service
Internal customer service – or the customer service provided by employees to one another – can be quickly forgotten in a customer service plan. For many, customer service is simply the service provided to external customers, and as such how employees treat one another is not accounted for. Unfortunately, this internal customer service can have a huge impact on a business, effecting retention rates of employees, morale, external customer service, and efficiency. And all of that has a big impact on a company’s profits.