Business

Running a business is not everybody’s cup of tea. Starting a business in the first place requires a sound idea of the inter-relation of companies in the financial world. There are a lot of things we need to undertake.

There are two categories of resources every business need – the intangible resources and tangible resources.

The tangible resources are finance, equipment, and employees. The intangible resources are the business idea, marketing, and production strategies.

There is a lot of planning we have to do to carry out business; the capital we need to invest, the returns we are likely to get; scaling them from the lowest to the highest probability, the expenses we are likely to incur, salaries of the employees and payables to the vendors as so on.

The massive importance of financing

Besides, the product or services we’ll deal in have to be of value for the customers so that there is a steady and continuous demand for the product. All these things are probable for us to carry out only if we make sure that we work things out well and in advance.

Apart from the diligent planning and foreseeing all the odds and anticipating them beforehand, the first and the most important concern is with the finances. The capital is the most fundamental building block of any business. You may have a good business concept or unmatched marketing strategies. But you still cannot get your firm up and running without a business loan.

Here are some essential tips on the intricacy of finances for a good business from Business Backer.

1- Get the right initial finance

Capital is a one-time investment. A prudent businessperson is someone who foresees all the business requirements and plans out the finances well. The initial funding is the first step for your company to set in the market.

Investing with the right amount of capital is making sure that you meet all the requirements for products, equipment, and other materials for the office, the premise of the office, etc. It is also necessary to take into consideration that initially, the output of the business may be slow. Hence, the corresponding income would be equally stable; therefore, less productive.

So we advise you to get started with the business with a firm foothold.

2- Get the right continual finance

Some firms may not be able to enjoy the right amount of gains it covets. The slack time of a business is the most disheartening phase of a firm. Even if a firm is doing well in terms of the turnover, at times, taking it to the next level needs an external source of finance.

Therefore, there is a recurring need for capital to take the business to the heights it deserves. So we recommend you to get good sources of finance in such a case.

3- Don’t go for limited finance

Resorting to availing oneself a third party financing i.e., loan, is not a pleasant thing to rely on the business on. Getting low finances could be the first coming into one’s mind.

Underfinancing could be a big mistake; with limited finance, you may be able to get started with the firm; however, you not being able to meet all the requirements can make all the arrangements go to the dogs. Not investing in all the business aspects can lead to the knock-on effect on the whole business.

To conclude

Financing is, therefore, the most viable option for a firm to see the light of the day or help it take the big leap. So, go for a suitable business loan by considering all the aspects.

Most of the brands that are looking forward to increasing their social media marketing should opt for Instagram. Instagram has over 26 million users, and each passing day more people are signing in. With the help of photos and videos Instagram can help various brands to promote their services and products. Brands also use this platform to show their ads. There are many ad makers available online, which brands can use to create the ad of their choice.

Instagram lets their users post images, videos, and texts in their stories. It is necessary to create a good post by the Instagram stories, which will attract the audience to check out your brand. For those who are looking for tools for making ads for their Instagram page should visit InVideo. The website has a plethora of Instagram video templates available for the users, which are customizable. Users can also use various features such as animation, transition, and graphics.

What are Instagram Stories?

Over the past few years, Instagram has rolled out various tools for its users. Out of them, one of the most famous tools is the Instagram story that introduces a new way to attract customers to your brand. With the help of the Instagram story, people can post a picture or video that they don’t want to keep in their profile indefinitely. The story will only stay in your profile for 24 hours and will get automatically deleted.

How to increase the views on your Instagram story?

Creating stories does not guarantee you will get a lot of views on it. Most of the time, we rely on hashtags when it comes to Instagram posts, but here it is not applicable. At the same time, you don’t have the option to tag many people. Some tactics that brands can follow to get more views on their Instagram stories are discussed below.

1. Repost content from your feed to the stories

For those who have an upcoming event should first post an image or video on their feed. Then this will make your audience stay tuned for the upcoming stories. You can also post an image or video on your story which is already present in your feed.

2. Go live on Instagram.

If you go live often and are able to provide useful content, then the audience will wait eagerly for your next post. You are likely to gain more followers when you go online and interact with the real-time audience.

3. Mention people

People love attention, whether it is in real life or social media. Instagram has a mention feature on their story, which will help you tag someone on your post. Brands can tag their customers or followers, along with a message to show appreciation. But make sure not to over tag people. This is a great way to attract new and potential customers at the same time, retaining the existing users.

4. Create amazing contents

The organic way to grow more followers is by rolling out great content. If your brand is capable of creating good content, then users are most likely to watch the Instagram story.

5. Instagram ads

By running ads brands can attract an audience and, at the same time, increase the engagement in their Instagram story. This also helps to boost your algorithmic score. By doing this, there is a high chance that your story will appear on the explore page.

How are few brands using Instagram stories to drive audience engagement?

1. Hint Water

Healthy living is not only a way for marketing, and Hint Water portrays this in a great way. The company is known to live healthily and take good care of your physical and mental health. With their Instagram story, they remind the users of yoga sessions along with drinking plenty of water.

2. Cheerios

The brand is known to use the Instagram story to give shoutouts to their customers, along with a personal message. This helps the customers have a good day, and at the same time, it attracts new customers.

3. Vogue Magazine

Recently Vogue Magazine took advantage of an event happening live. They created Instagram stories using a few clips and images to focus on the photographers capturing the historic moment. They also included the swipe up feature to check out the full story on their website.

4. Real Salt lake

Most of us love to watch behind the scenes of celebrity lives. Real Salt Lake mainly shows the life of various athletes and portrays their strength and condition training in their Instagram stories. The audiences feel more intimate with the help of these stories, and it helps to engage customers.

Why should brands opt for Instagram stories?

To get relevancy in your follower’s feeds brands should opt for Instagram stories. In June 2016, Instagram updated their feed to be algorithmic. Stories are designed to stay at the top of the page, which gives the brands an advantage to get noticed first. Popular stories also tend to appear at the top of the page. If you are going live through the brand page, your followers will receive a push notification if it is not turned off. With this knowledge, brands can create a strategy to promote their products and services.

How should brands use Instagram stories?

Brands are utilizing Instagram stories in various ways. It comes down to what campaign goals are there for Instagram. Firstly, it is essential to define your goals. This will help you notice how other brands are addressing this challenge. Brands also have the advantage of attaching links to their affiliated web page, which regular accounts do not possess. This is a way to grab the attention of audiences that are engaged to your brand already and take them to your blog or web page. Brands should be aware that links can only get attached to an Instagram story and not a live video. But you should focus on being creative with your content.

If used properly, brands can utilize this platform to increase their audience engagement.

 

A career in social work requires dedication and commitment with a passion for serving vulnerable populations. The field of social work is expansive, that has many different practices, services, and specializations under one banner. Recently, the need for social workers has increased in the past few years. More and more people have drawn towards degrees and careers in social work. If you desire to help people, you may be interested in learning about different social work specializations available. Social work is a broad career that offers multiple options for those working as community helpers. These professionals assist individuals and families of all ages and backgrounds across a spectrum of issues. A significant number of specializations and certifications are available for those wishing to elevate their career in social work. Some of the popular options are as follows:

• COMMUNITY SOCIAL WORK

Contrary to popular belief, community social work is not limited to borders and city lines. It allows professionals to work with communities belonging to different races, classes, religions, and socio-economic backgrounds. They can work within their local communities or travel abroad for the poverty-stricken populace in developing countries. They may fight for the eradication of toxic landfills or create programs for local communities. Similarly, they may apply for grants or establish a charter school. Community social workers can associate themselves with non-profit organizations, citizens, groups, or government agencies. Hence, there are several areas of service that professionals can work for and hold a position like director, coordinator, or specialist.

• DOMESTIC VIOLENCE COUNSELLING

Domestic Violence counseling is one of the most challenging specializations for social workers but also one of the best rewarding. Domestic violence counseling takes place anywhere, from clinical practices to public service agencies. Also, this specialization works for the safe house and domestic violence shelter handling. Domestic violence counselors can not only assist a victim but for counsel a domestic violence abuser as well. They may help in testifying against domestic violence cases in courts or find safe havens for victims. Most positions in this field require only a graduation degree in which you can take specialization courses. Some others may require a master’s degree with the same specialization principle.

• CLINICAL SPECIALIZATIONS

Clinical social workers are practitioners who work with advanced degrees like masters. Their expertise lies in providing diagnosis, treatment plans, and counseling services across various settings. The can serve individuals of any age or ethnic background. A subcategory of clinical specialization is forensic social work, in which practitioners provide solutions for law and legal systems. This type may include substance abuse facilities, juvenile detention centers, prisons, or mental health concerns. Social workers in this field have a high demand as they work with any facility that provides care and treatment to those in need. Ensuring that they receive the attention and treatment they deserve. They establish a communication bridge between patients and caregivers while assisting with paperwork and decision-making. According to Social Work Today, professionals associated with clinical social work practices state that helping people in clinical settings is the best part of their job.

• FAMILY, ELDER, AND CHILD WELFARE

Child, family, and elder social work focuses on providing safety to families, children, and elders across all age and ethnic groups. The professionals in this practice can provide therapy to individual children or assistance to whole families. These professionals might act as caseworkers to help their clients receive the type of social services they need within their community settings. They can serve directly through community agencies or employed through a hospital or medical facility. It all depends on the issue the community faces.

CERTIFICATIONS

Besides specializations, there are a few certifications available online and on-campus for a short burst of skill set. Some of these are:

• LIFE COACHING CERTIFICATION COURSES

In the duration of this certificate course, you will learn about practices that improve your confidence and self-esteem as well as many models give you tools to overcome fears and motivate others in eradicating negative habits and debilitating fears.

• HUMAN SERVICE CERTIFICATE

This certificate course targets those currently working or entering social services. This course covers topics like personal and community health, psychology, sociology, and criminology to dig deep into social issues.

• APPLIED COUNSELLING STUDIES CERTIFICATE

This certificate course takes the next step in broadening your clinical practices. Applied counseling studies aim towards those professionals who wish to expand their area of clinical practice and open career opportunities in private and agency practices. It provides knowledge and skill training applied to counseling settings.

FINAL WORD

The certificates and specialization courses mentioned above aim towards providing a professional association with social working, necessary to boost their career. Other fields of interest that include financial coaching, child welfare, school social work, etc. all have one purpose, and that is to serve the community. It does not matter which principle you choose, as long as you have a passion for serving the community.

Instagram can be a highly targeted visual marketing platform for your brand if you know how to target followers. A large number of people browse the app every day. Thus, Instagram houses some of the most engaged audiences from across the world. Interestingly, Instagram is the only social media platform which comprises a young population. You should buy auto Instagram likes to connect with a larger group of audiences.

Here is the list of ways through which you can attract more followers in Instagram for your business.

Optimise the Use of Popular Hashtags

The first thing you should note here is that Instagram relies heavily on hashtags. This is the reason that you should use the right hashtags at the appropriate time. In case you are unsure about the meaning of a particular tag, check its purpose. Also, make sure that you are using tags which go with the identity of your brand. Also, keep in mind the most popular hashtags change from time to time. So it is essential to keep an eye on the latest changes.

Leverage on the Potential of Video Content

Video content plays a decisive role in the success of your social media campaigns. Ignoring its potential in Instagram can be a severe blunder. It has been observed that engagement grows faster for videos when compared to images. You can also opt to use the live TV feature of Instagram. When you go live with a particular video, you get a special place in the feeds of your followers. You can also replay the video for those who missed.

Highlight Your Stories in a proper manner

To get followers on Instagram, you should highlight your stories. When a follower visits your page, you usually have a short time to impress him/her. This is the reason that you should use the “highlights” option present in your profile.

This feature organises your profile nicely and depicts what your profile is all about. Highlights provide stories with a second chance as stories are valid only for 24 hours. You can emphasise on highlights to:

• Infuse themes into your stories
• Describe your products and services
• Create teaser ads to spark curiosity

Also, consider using an array of Instagram tools to attract a large number of followers. Always opt for a business account as it provides you with crucial analytics. You can use this data to identify the loopholes in your campaign.

Ensure that you are consistent with your posts on Instagram. Usually, your followers are always expecting something new from your end. Moreover, to get more followers, you should align your strategies with the trending topics.

The onset of Single Touch Payroll (STP) is a breakthrough for digital privacy. In the commitment to serve businesses with utmost confidentiality and security, this new system in the payroll process integrates artificial intelligence (AI) as its core.

From altering how business owners and payroll admins handle employee information to organizing their payroll data, new financial obligations are mandated by the Australian government to prevent fraudulent activities and leakage of classified information.

This article illustrates the implications of STP to the data security of a business.

Accurate and up-to-date accounting system

AI-driven STP means a smarter technology proven to change the future of payroll in several ways. Unlike the traditional payroll system that uses manual entering of employee information and pay events such as wages and deductions, the big switch to this automated system enables businesses to have a modern and a more structured payroll as they comply with the new set of financial obligations mandated by the government.

An STP-enabled software is essential in submitting reports to the Australian Taxation Office (ATO). It serves as a channel to generate electronic pay events that are automatically verified by the system for accuracy of data.

Increased productivity

This type of assistance refers to AI-based systems that allow knowledge workers to recover and generate reports in a highly dynamic method. An ordinary knowledge worker spends 15 minutes – over an hour a day searching for business information in obsolete database systems and via the internet.

With AI, automatic clustering and visual recognition technologies reduce search time and identify on behalf of the knowledge worker the correct information needed such as employee’s personal profile and pay details by 50% or more, according to a study.

Furthermore, the use of AI reporting tools enable businesses to be more productive as human intervention in STP reporting is reduced hence more time is allotted to do more high-value work. As such, the accuracy of reporting is increased by minimizing human error from the quantitative nature of financial reporting.

Streamlined STP reporting

The advent of Single Touch Payroll has nullified the need for a report that consists of payment summaries such as salaries and wages throughout the year. This means that the employer or a payroll manager will prepare a report based on the standard guidelines of the ATO. As such, pay information of employees is aligned and correct. More so, this long-term practice enables business of all sizes to be strictly compliant with the rules of STP reporting.

Verified STP reports

Did you know that the AI system uses natural language processing? This is to classify complicated contracts, especially from foreign parties. The method of verifying essential information helps in keeping both the employers and employees’ data consistent and updated,

Furthermore, the management of personal and professional information of a business is run by AI tools trained in input management to foster compliance with standard report formats. These AI tools used in STP reporting alerts business owners and payroll admins potential issues such as financial anomaly and leakage of confidential data.

Real-time STP reporting

STP requires employers to report payroll in real-time. In doing so, records are always updated and workers can access and understand their tax and super contributions in just one click.

STP reporting utilizes sophisticated technology to accomplish such functions and to guide business owners on the productivity of their employees and cash flow.

Error-free reports

As mentioned, STP does not require reporting payment summaries at the end of the year. This means more time can be invested in more important work which promotes focus and productivity among employees.

Let’s not forget that errors in salary payments are a common challenge among business owners. Unlike manual pay processes that involve a lot of human intervention, STP has a dedicated software, IT and AI systems to help you get paid faster and have quick access to the updated financial data.

Moreover, reduced human involvement in STP reports means minimized to no-error reporting of payment information.

Are you ready for STP?

It is inevitable that many companies are anxious to apply the new Single Touch Payroll system. While it is understandable that most businesses are used to the conventional method of the payroll process, STP offers growth and opportunities to business owners and employees.

Have you realized the impact of cash flow in your business? Do your employees understand the implications of STP in your business? Now is the time to start making crucial changes to your business’ stability and security.

 

Reputation is a reflection of your actions and deeds and is evident from the manner people around you treat you or interact with you. Successful people always emphasize on building and maintaining reputation and consider it as an important and fundamental ingredient to success.

Those who value the importance of good reputation grow in stature and people who disregard it are doing so at their own peril. In the field of law, lawyers tirelessly work hard and take long time in creating their image and reputation of a trustworthy attorney.

Like all other professions, reputation of an attorney determines his or her ability to present and influence cases and help clients providing justice. It is a proven fact that lawyers live on their reputations that brings them more number of cases and increased remuneration. It is therefore important for every attorney to work on building and improving his or her reputation and enjoy a competitive advantage over other colleagues.

Ways to improve your reputation as an attorney

When you try to explore, you can find various ways for attorneys that may prove helpful in improving their reputation as an attorney.

However 7 most common ways to improve reputation as an attorney include:

• Be true to your profession and clients

Most clients appreciate genuine and passionate professional attorneys. They prefer to engage an attorney who is competent, knowledgeable and passionate about his or her field.

Your truthfulness and genuine help besides sympathetic approach towards clients in their legal battle spreads in the society when you handle and win their cases with your expertise patience, and diligence.

This will help you become a respected personality in your field of law; can bring job satisfaction and positive review that will go a long way in improving your reputation.

• Keep updating and learning new skills

Your approach should always be to learn new skills that can help you develop as a skilled attorney and your reputation will grow higher. People like to hire an attorney who is talented and is always working on personal development.

Hence, it is advisable for reputation conscious attorneys to keep working on critical skills areas to find them ahead of competitors in professional skills as well as reputation.

• Advertise yourself as a successful Attorney

This essentially does not mean that you have to blow your own trumpet but highlight your achievements in some journals or by writing blogs and mentioning those on your website.

• Update your website

Your well constructed website can provide all legal information in simple, grammatically correct and easy to read and understand way.

Your website can be a perfect place to display major cases resolved by you, videos of proceedings of legal cases you have appeared in and news clips or seminars that present you in the positive light. You may also feature in the media attention received by you and your law firm can help you enhance your reputation as an attorney.

It is therefore important for you to keep your website updated, useful and optimized all the time so as to increase number of new clients

• Make a Wikipedia Page

Wikipedia being an authority site can fetch you near the top of search results for the majority of names and keywords.

You may create an article for Wikipedia which can improve your search rankings and earn you more mentions from sites across the web.

• Set realistic expectations

As an attorney, you definitely want to help every client and win every case. Yet as an honest attorney, while instilling confidence in your clients you must lay out your realistic assessment of the case and never ethically make promises of results.

Spelling the legal aspects of case with your clients in a transparent manner will help building your credibility.

It is essential for you to set clear realistic expectations for your clients and when you strive to not only meet but exceed them, you develop credibility trust that improves your reputation as an attorney.

• Strive for consistency and integrity

Mostly, people engage attorneys who have clean yet high success record. This also means that clients prefer attorney who are consistent in winning their legal cases.

With people craving for consistency, it becomes imperative for attorneys to live up to their past reputation and win all legal battles. For this, attorneys work hard with all their strength, knowledge and integrity besides will to succeed.

They know that their consistency will make their clients come back whenever required and also refer or recommend you to others.

If you are aiming to build and maintain a reputation as a credible and experienced attorney, you will also require and develop integrity as an essential component within you.

For improving your reputation as an attorney, you must maintain your consistency of successes and never allow the essence of integrity in you to diminish.

In response to the current COVID-19 pandemic, many companies are implementing voluntary or mandatory work-from-home policies. Even if you’ve worked from home before, making the transition might seem like a whole new world. To help you maintain your mental well-being so that you can stay productive from home, here are five tips for a seamless workday.

Get Dressed

It might seem like a simple tip, but getting dressed can change your headspace and help you prepare for the workday. While you don’t need to dress as formally as you might dress for work, the simple act of changing out of your pajamas can serve as a signal that it’s time to get work done.

It’s also important to remember that working from home doesn’t mean that no one from work will see you. With more and more workplaces switching to at-home work, video meetings are expected—so make sure to take a shower, brush your hair, and take care of your appearance.

If you’re not sure what to wear, consider investing in comfortable, casual workwear. For instance, pairing a women black blazer jacket with a pair of dark blue jeans, flats, and your favorite accessories can help you prepare for the workday without sacrificing your comfort.

Designate a Home Office Space

Keeping your work and living space separate can be one of the biggest challenges when it comes to working from home. If you fail to designate a home office space, your work productivity can suffer, and you might end up overworking yourself.

If you’re making the transition to working from home for the first time, aim to recreate the physical separation from home and work. If you live in a small apartment, designating a home office space might require some creativity. Even if your home office is as small as a corner in your apartment, it should feel as separate from the rest of your living space as possible.

Don’t Overwork Yourself

Like designating your home office space, it’s important to clearly define when you’re working and when you’re not. It’s easy to overwork yourself when you’re working from home full-time, and setting strict limits for your work can help you avoid burning out. Additionally, if your position requires collaboration, sticking to the same schedule as your coworkers can help your workday feel more seamless.

Although it might be tempting, don’t cut your breaks—especially your lunch hour—short. If you find yourself returning to your desk before your break is over, walk away until it’s time to start working again.

Communicate with Your Coworkers

Having a workforce online or remotely can be helpful with clear-cut communication. Your core business operations will be delivered with utmost trust and speed. If you do not trust them initially, you can use the most relatable, reviewed, and usable remote team management software online. This way, you can know which employees you hire are worthy of a long term rapport. Then you can have a straightforward communication with them without having to bear any losses financially, per se.

If you’re not used to working from home, transitioning to a fully remote workday doesn’t mean you have to resort to text message-based communication. For larger businesses, utilizing cloud contact center software can help cut down on miscommunication while making it easier for employees to avoid the social isolation that can come with working remotely.

With no physical infrastructure, cloud contact center software enables communication across all voice and digital channels, allowing organizations to take advantage of state-of-the-art capabilities and communication tools to boost productivity, increase efficiency, and seamlessly communicate. Cloud contact center solutions also include interactive voice response (IVR) support for voice and video, along with digital channels such as email, SMS, and mobile applications.

Avoid Distractions

For people working from home, distractions can be one of the biggest obstacles to productivity. While it’s fine to take a few breaks throughout your home workday, try not to look at a new work assignment as an opportunity to clean your apartment or do the laundry.

Right now, one of the biggest distractions is social media. If you’re working remotely because of COVID-19, staying updated on pandemic-related news is going to be at the front of your mind. It’s important to stay informed, but it can be easy to lose track of time while you’re scrolling.

To avoid getting too immersed in social media, consider setting timers for breaks. If you’re susceptible to getting distracted every time you get a new notification, keep your phone in a different room or use airplane mode.

Although the transition to working remotely might feel challenging and uncomfortable at first, taking steps to boost your productivity can help your workday flow more smoothly.

Online classification is the best suggests that of promotion. This is because these websites function the one- stop- buy the consumers in addition as sellers. Numerous sellers place up their ads on these websites. Some of the web site offer freed from value service, while the alternative area unit paid. Looking at the recognition of the web classifieds you’ll take this as chance to make your own web site and begin a supply of financial gain.

Nowadays there area unit several organizations that offer complete solutions for commercial enterprise of the advertisements on the net. Online classifieds area unit obtaining standard amongst scores of individuals round the globe.

 

How To Build a web Classifieds Website?

 

There are numerous ways that to build on-line classifieds websites. Some ways area unit tedious and advanced, because you have to begin building the web site from the scratch. However, there is easier thanks to build these sorts of online classifieds websites. Some companies have delivered softwares for this purpose. You simply need to get these on-line classifieds web site building computer code. Then you can begin building a web site following the instruction mentioned with the computer code.

 

What To Add On Your Website?

 

Since you website is dedicated for on-line classifieds, you need to feature numerous classes for the ads. These categories can be presently stuffed by the sellers across the country, may across the world. These categories area unit inclusive of real estate flats, automobiles, health and fitness equipment, electronics and appliances, business Services, animals and pets services, trucks, boat, software and numerous services.

 

You can set word count limit and image resolution for your web site. So that, when the trafficker registers along with your web site he is aware of what proportion description he will offer for his merchandise in addition because the options of the image.

 

Advantages Of The web site

 

Once your website is place on the net, you should begin obtaining responses. There are various benefits due to that the responses are high. Here are some of the benefits that the sellers approach the web classifieds.

 

The Local Classifieds are on-line and thence they will reach scores of viewers at a similar time. Many of them area unit potential customers. Thus the on-line classifies area unit useful in obtaining additional range of consumers than the traditional advertizement. There are tens of tons of of websites commercial enterprise these ads out there on the net. Some of them are paid websites, while others provide free on-line ads. The latter type of websites is additional helpful as there’s no investment in advertising on such websites. The user simply desires to register on the websites to publish his ad.

 

The traditional classifieds become high-priced if the word count outgrows its limit and if any image is more. On the other hand, the websites for online classified provide a dedicated area for the ad, where one will publish the image of the product. Besides thisFree Reprint Articles, the word limit is sufficient to describe the merchandise or service in a pretty manner.

Now is an advantageous time to be running a small business. Small business owners currently have a multitude of new technologies at their disposal, in addition to tax benefits. Now more than ever, business owners can reach their target market as well as make their operations more efficient. For example, point of sale (POS) systems are available to help small businesses process customer orders more efficiently while keeping track of their inventory in real time.

All-in-One POS

A POS, as its name implies, is a system that records sales transactions at the point a customer makes a purchase. But POS software has significantly evolved and now integrates with back-office and customer relationship management (CRM) systems to update inventory, accounts, and other modules. It is essentially a hub that is crucial to business operations.

In addition to the software, POS systems will have hardware components installed at strategic locations where the people serving customers, or the customers themselves can access them. These components include barcode scanners, monitors (or, in some cases, tablets), and cash drawers.

Integrated POS software, as described above, automatically updates other modules, ensuring all the business records are up to date. The fact that record updates don’t depend on manual input reduces the chances of them being forgotten or done erroneously. It also reduces the workforce needed to keep track of the enterprise’s operations and finances. Having one system in place of several from different vendors reduces the challenges of integration as well as the overall cost of the system.

POS for small restaurants can be particularly beneficial in the following ways:

Business and Operations

With every purchase made, the POS software updates sales records from which essential reports regarding the performance of the system can be extracted. You can be able to tell if you need to adjust your pricing or reduce your costs to maintain profits, for instance.

Ordering and Inventory

Every purchase made is not only recorded as a sale, but as a real-time reduction in inventory. The integrated inventory module keeps track of these numbers until the reorder threshold is reached. Alerts are then issued via email, or in some cases, orders to suppliers are automatically prepared.

Service Efficiency

A POS system can help decrease the time it takes for customers to receive their desired meal in a restaurant. Digital menus can allow patrons to place their orders directly to the kitchen immediately when they arrive instead of having to wait for a human server. Less need for printed tickets means lower operational costs and one less item to keep track of.

Customer Convenience

Customers being able to reserve their orders online through the POS software eliminates the need for them to visit the restaurant in advance or call to make reservations. It also means reservations can be made at any time of the day or night.

Your customers, as previously mentioned, can be able to place orders at their convenience without having to request the menu and wait to have their order taken. Guests won’t have to wait again for a waiter to hand them their bill; they can go ahead and settle electronically via debit or credit card.

Keeping track of loyalty points is made more accessible by the POS systems as they are automatically updated with every order paid for according to the customer records in the database.

Controlling the Atmosphere

Ambiance is everything in a restaurant, and thanks to your POS system, your customers can be provided with an atmosphere that meets their expectations, based on feedback from them. In addition to this, your POS can be linked with your security systems to, for instance, provide on-demand footage from CCTV cameras.

Food for Thought

A staggering number of single-store retailers currently operate without a POS, surveys have shown- more than half the establishments in the country. You don’t want to be a part of this statistic. All-in-one POS system implementation may seem daunting and expensive, but it isn’t when you think about it.

You will be saving cash flow since you will be investing in a single system from one vendor instead of different systems from different vendors. You will also be saving yourself the headache of seeking support from various sources whenever you need assistance. And with most of these POS systems being cloud-based nowadays, you stand to spend even less on setup. These are just a few of many benefits such systems can unlock for your enterprise.

 

Think you have the next big idea? Before you go taking out any business loans, make sure you have an air-tight plan in place. Too many entrepreneurs are overly anxious to launch their startup company and pull the trigger before thinking through every single detail.

More often than not, this type of oversight leads to costly consequences and forces business owners to shut their doors before they even had a chance at success. Beat the odds of failure and avoid becoming another statistic by having these five tenets in place.

• Business Plan & Projection

The most expensive mistake you can make as an entrepreneur is to skip the market research and analysis stage of business planning. In order to create a value position, you need to identify what makes your business unique. How does your product or service provide a solution to a need? Who is your target audience? Why would they choose your offering over the competition’s?

Keep these questions in mind while setting your price and creating your sales projection. Identify at what point in time you’ll start flipping a profit and pull enough revenue to offset startup costs, then present these calculations to investors when it comes time to obtain funding.

• Sustainable Funding & Marketing

Some entrepreneurs choose to launch their startup with their own capital, but this is a risky move. Should anything go sideways, then so too will your personal investment. Rather than placing your livelihood on the line, explore different funding options available to you, some of which are more sustainable than others.

From partnerships with investors in exchange for equity, to crowdsourced campaigns on Kickstarter, every deal will come with different terms—be sure to go with the model that makes the most sense long-term, not the one that provides the fastest solution to your problem. Usually, the easier it is to get funding, the higher the interest rates are on the loan.

Be sure that whatever funds you do obtain are carefully allocated between overhead costs and marketing initiatives. For example, you don’t want to spend too much money on direct mail marketing only to realize your audience is best reached through digital channels. Once you have the capital, make it last for as long as possible.

• Employee Recruitment & Retention Strategy

You need to hire the best employees you can find, so it’s wise to formulate a recruitment strategy that attracts the best applicants on the job market. Whether you post available positions on job board sites or head to a local career fair, the role description should highlight reasons why someone would want to work for you over the next company.

When you locate a potential hire, confirm that the candidate is who they say they are by running a criminal background check. What is a background check? Essentially, they can reveal red flags if your applicant has relevant criminal offenses in their history, suggesting they’re not the best fit for the job.

After making the best possible hires, increase their odds of them sticking around by creating an employee retention program. This helps reduce the cost of turnover while uplifting company culture and moral.

• Well-Built Website & UX

In order to attract business, you’ll need a website that’s built with search engine optimization (SEO) in mind. SEO refers to the strategies and practices used to boost your online presence by appearing higher on the search engine results page (SERP). Remember to claim your listing on local business platforms with contact information and hours of operation, regardless of whether you run a brick-and-mortar space or an ecommerce storefront.

Your site’s architecture needs to be properly indexed so that Google can crawl its pages, and the design should consider user experience to increase your chances of converting traffic into paying customers.

• Organized Bookkeeping & Accounting

Finally, it’s critical that small business owners adopt a meticulous accounting process to ensure no transaction, small or large, falls through the cracks. Falling behind on quarterly estimated tax payments can lead to large penalties and interest fees, and there will be very little margin for error within your business budget.

If you keep your company organized and your books balanced, your goal of a success will be within close reach.