Blog - page 46

Why You Should Consider Hiring A Business Consultant For Your Small Business?

Darryl Bachmeier Mar 28, 2019 Business

We cannot do it all. Sometimes we need help. Sometimes we just need to look at things in a different way. A business consultant can help you do that and potentially save your company money, improve performance and help you to make changes to achieve success. What Is A Business Consultant? A business consultant is an outside expert that can be hired to solve a business problem. They are an excellent source of knowledge, skills and experience. They understand all aspects of business, everything from business planning, sales, marketing and financing. A business consultant will analyze your problem; help you to develop strategies, goals and an action plan to reach the desired result, by focusing on your business strengths. Added Value There are many reasons why a small business should hire a business consultant. Business consultants have insights that can increase the value of your business. They offer an unbiased...

Why following a sustainability strategy makes good business sense

Darryl Bachmeier Mar 27, 2019 Business

The first thing that comes to mind when I think of sustainability is environmentalism and that we should seek to make sure, there are enough resources for future generations. We should maintain the environment and try to reduce our impact. In business, I believe that sustainability is ensuring the long-term survival of the business through effective use of resource management in both financial and human capital. Using research and development to increase efficiencies and use new renewable materials. Ensuring that they have the resources they need by maintaining strong relationships with both supplier and customer. It is in the best interests of organizations to think sustainably. Limited resources can increasingly be more expensive therefore, an organization needs to keep a watchful eye on their use and look for alternatives. This leads them to also think outside their local and think global, as there may be better global suppliers or new...

Why Do Small Businesses Fail?

Darryl Bachmeier Mar 27, 2019 Business

Running a small business can be difficult and no one wants to fail but many do. New companies have the highest failure rate of all. In fact less than 60% of new business make it past the first two years. What Reasons Do Small Businesses Fail? Poor Planning You need to come up and write down your strategic plan. You need to analyze your competition, forecast sales and plan for a changing environment. Not Enough Capital If you do not have enough cash flow to keep the business operating then you will run into trouble. Small business owners take on lots of personal debt using their credit cards to run the business. Cash is the lifeblood of a business. Ineffective Marketing You always have to be marketing your business. If you are not promoting you will fail to reach new customers and maintain a good reputation. Look at multiple channels...

The future direction of corporate sustainability

Darryl Bachmeier Mar 27, 2019 Business

As greater environmental concern grows with younger generations, I believe that the future direction of corporate sustainability movement will continue to grow to the point that sustainability will not be optional. In order to fulfill their own sustainability requirements, organizations will require their partners and suppliers to follow sustainability. This will raise the bar of sustainability quality across the board. With organizations like GRI providing a global standard for sustainability reporting requirements it will be easier for organization to understand how and what they should report. The role of corporate leadership in realizing this future is what we expect for any intuitive. Leadership must fully support it. They will need to prove this by creating the vision for the organization to follow. The vision must inspire. They will need to develop realistic goals that they can measure and report on. Leadership will need to communicate the value of initiatives. They...

Who are the biggest players in sustainability?

Darryl Bachmeier Mar 26, 2019 Business

I believe that the two biggest players in sustainability are government and consumers. Corporations indeed have a role to play as they have the ability to research and develop new technologies to solve issues but I believe it is the consumer that drive these changes. Corporations can lead the market but if the consumer is not ready to accept new ideas they will fail. Consumers are the ones that vote for corporations, and technologies by buying products and services. Consumers are also the ones that elect their government who both creates new regulations and enforces them upon corporations. The truth is that all three groups influence each other. Corporations hire lobbyists to influence politician’s decisions which impact regulations. Corporations can also choose to lead the way by enforcing higher standards on themselves. The government has the ultimate power but they serve the people (consumers). They create the regulations and enforce...

What influence do shareholders have on sustainability efforts?

Darryl Bachmeier Mar 26, 2019 Business

It is important that the investors believe in the company and its management. Shareholders react to gossip, news and rumors. If they feel that a company is being mismanaged or trying a new strategy far outside the element of the company’s core business shareholders will run fast. This means selling the company’s stock. Investors themselves may be interested in companies that work towards sustainability. Any effort to work towards sustainability can be seen very positively to potential investors. It may draw in more investments increasing the share price. Even though the stock price is not really the best indicator of the company’s value especially in the short term the company must monitor the stock price with any news released that may appear negative.

What followers want from leaders?

Darryl Bachmeier Mar 25, 2019 Leadership

If we consult Maslow’s hierarchy of needs all individuals want to reach the top of the pyramid and achieve self-actualization. As a leader we can help ourselves and our followers at the same time by helping them to grow personally and professionally. The needs of a follower depend both on the work that the followers do and the personality of the follower. If the work involves repetitive manual tasks then the follower would be motivated for higher salary. If however the work involves higher thinking and creativity the motivation of the follower would be for higher needs. Leaders must ensure that they at least meet the basic needs for followers. It is best to make money a non-issue buy paying a competitive salary. This avoids the follower thinking about their lower needs. A leader needs to provide a vision and goals so the followers feel their work gives them purpose....

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