6 Things All Modern Businesses Should Be Using The…

The internet has changed the way the world does business forever; that much is undeniable. However, some businesses haven’t quite managed to get on board with all the benefits the internet offers them; instead, they make piecemeal changes and adaptations, rather than embracing everything that the internet age has to offer them.

If you are, or suspect you may be, one of those businesses that is somehow lagging behind, then changing your ways might just be the best decision you ever make. Below are six ways that modern businesses should be using the internet to help drive profits and improve their business operations as a result. Why not read through and see which of these you may want to embrace in future?

#1 – Remote recruitment

No longer do your employees need to be in the office; you can hire people from around the world and manage their workload remotely. This lets you take advantage of a much larger talent pool than recruiting on a local level allows you to do, ensuring that your business is only ever hiring people that are the perfect fit for the job.

#2 – Communication

A shift to online communication can not only make your business operations more efficient, but it can also save you money. Consulting with VOIP systems experts can allow you to halve, if not outright cut entirely, your telephone bills, while messaging systems like WhatsApp and Google Hangouts allow for effective employee communication from anywhere in the world.

#3 – Invoice management

Whether you have your own custom-built cloud invoicing systems or use a third-party source like Invoicely, managing invoices is easier now than at any other point in history. You can track which payments are due, send gentle reminders, and be notified when amounts are paid, allowing for thorough management of your business accounts even without an accounting staff to do it for you.

#4 – Marketing and advertising

There will always be benefits to offline advertising, particularly if you are trying to capture customers in an older demographic. However, online marketing and advertising is now widely viewed to be far more effective than offline methods. You can target Facebook ads directly to consumers you feel may be interested in your services, or partner with a blogging influencer to showcase your latest product.

#5 – Finding supply lines

No longer do you have to be constricted to local suppliers for the components you need to make a product. Use the internet to allow you to connect with overseas suppliers; you will often find that the savings that can be made are substantial.

#6 – Competition research

Many business guides will often tell you that you should focus on your business and, for the most part, ignore your competition. While it’s always good to have a firm grip on your own business, researching what the competition are doing — particularly in regards to their social media and advertising presence — is an invaluable resource. If they are doing something well, you need to know, so you can better them.

In conclusion

The internet can improve how your business operations run with ease, providing you use it correctly. Follow the tips above and you should see your business boom as a result.

Who Needs Liability Insurance?

Insurance can be a confusing thing, and it’s something that many people struggle to comprehend when they go into business or start up on their own. But, it’s something that you really can’t afford to get wrong. You wouldn’t drive without insurance, nor should you be without it professionally. You may need to add equipment to your home insurance policy if you work at home or keep things there. You’ll also need commercial insurance and car insurance for any work vehicles. But, one of the more confusing elements can be liability insurance and whether you need it or not.

What is Liability Insurance

The first step to knowing whether you need it or not is understanding exactly what it is. Insurance generally is something that covers you financially if a claim is made against you. Or, pays out if you make a claim yourself. So, in the case of car insurance, if you are involved in a no-fault accident in which your car is damaged, the premiums that you have paid mean that your insurance company will pay out to cover the costs of the repair. If you were at fault, and you damage another car, it’s owner can make a claim to your insurance company to cover their repairs.

In the case of liability insurance from liabilityinsurance.co, you are covered if your business somehow injures a member of the public or causes damage to their property. This can include things like them falling on an uneven tile in your office, or you accidentally damaging something while you are visiting their premises or home. Your liability insurance covers compensation, damages, legal expenses and other costs such as loss of income, that may be incurred.

Do You Have Contact with the Public?

The easiest way to figure out whether you need liability insurance is by working how if you have contact with customers or clients at all? If you own a catering company or café, you’ll need it. Customers visit your premises every day and are at risk no matter how careful you are. Even if you are a sole trader, working alone and providing an online service, you can have occasional contact with clients or service providers.

Do You Work from Home?

Often, when people work from home they simply change their home insurance policy to reflect their homes new use. This is well within the law, but, you should still consider liability insurance even if clients and customers never visit you at home. If you ever go to networking events or trade shows, you meet people. They could trip over your equipment, or you could spill a drink on theirs. You never know.

Is it a Legal Requirement?

Unlike car insurance, liability insurance is not a legal requirement. In some professions, it’s company policy. Doctors, for example, would not be allowed to practice without it. But, more often than not, the choice is yours as it is with contents insurance at home. But, when you think about the risks, and what could go wrong on any typical day, and you’ll see that it’s more than worth it.

Home Business? Consider Outsourcing To Increase Productivity

Running a business from home can be flexible, as well as cost effective because you don’t have rent to pay for and you don’t have staffing costs. However working from home can be challenging, especially as a sole trader due to having to be a “Jack of all trades” in running the business on a day to day basis. There are many essential tasks that need to be undertaken when running a business and that is before you attempt to market your product, or service in order to generate sales. In fact your whole day can start to resemble a juggling act! Sometimes you can spend the whole day dashing around without actually making any progress.

Managing your time is an essential skill that you should learn to acquire early on, however the tasks that need to be done can become overwhelming and out of control. This is when action needs to be taken. Take a good hard look at your daily schedule and see if it is possible to delegate and outsource some tasks. By freeing up more time in the day you will be able to concentrate on generating sales and leads, as this is the activity which allows your business and profit margins to grow. In fact you should spend 80% of your time generating sales.

This article aims to highlight some of the business tasks that could be outsourced.

Social media

Social media is an excellent tool for generating sales, promoting your brand and engaging with potential customers, however it takes time to use it effectively. It would be worth hiring a social media manager on a freelance basis to keep your social media accounts current and active. It is worth having a number of platforms in order to reach a large number of potential customers.

Accounts

Doing accounts is an essential, but tedious job for most business owners. If you don’t keep your accounts up to date you run the risk of having to catch up on months and months of paperwork, in order to meet deadlines. Thankfully you can outsource accounts fairly easily to bookkeepers. It is also possible to outsource tasks relating to payroll. If you are hiring staff or outsourcing certain tasks companies such as http://payroll.services can ensure everyone is paid accurately and on time.

Information technology

In today’s market it is important to utilise IT in your business systems. Not everyone is IT literate so it may be a good idea to outsource web design, management and cyber security. This will ensure systems are safe and working effectively, it also means that should any problems occur, they can be rectified quickly.  

Sales

As a business owner you will be involved in sales on a daily basis, this could be via face to face, telephone or email marketing. Sometimes telesales can be a thankless task and can also be time wasting, it is possible to outsource telesales, to people who have been trained in the art of selling. You will see more return for the effort and free up more time to complete other sales methods.

Finally, choose your freelancers carefully and ensure you communicate effectively throughout the process of the tasks being undertaken.