finance mistakes

A recent article, 5 Stupid Small-Business Finance Mistakes to Avoid in 2016 by Steve Nicastro says that approximately fifty percent of small businesses don’t survive in the first five years according to the U.S. Small Business Administration because of poor financial forecasting and management. Here’s a list of small-business mistakes….
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A recent article, 5 Stupid Small-Business Finance Mistakes to Avoid in 2016 by Steve Nicastro says that approximately fifty percent of small businesses don’t survive in the first five years according to the U.S. Small Business Administration because of poor financial forecasting and management.

Here’s a list of small-business mistakes to avoid in 2016 to stay afloat in the next five years. 

  1. Borrowing money with higher APR than ROI

Business owners should only utilize debt financing if they are certain they’ll earn a higher rate of return (ROI) than what the debt costs. 

If you’re paying a high APR, it may be time to repay the remaining debt if you can afford or refinance into a lower fixed-rate. 

  1. Poor personal credit

In a creditor’s view, poor personal credit says you don’t manage your finances right, so most likely you won’t be able to handle your business finances.

Improving your personal credit score can increase your chances of receiving small-business financing.

  1. No revolving line of credit in advance

As a small-business owner, having access to extra funds is critical for emergencies like a leaky roof or broken equipment.

A business line of credit gives you access to cash that you can borrow as required. 

  1. Combining personal and business finances

Mixing your personal and business finances is a grave mistake, here’s why:

  • Budgeting and tracking business expenses can be horrible.
  • Creditors may think you’re not serious with your business.
  • You may not be able to differentiate business and personal expenses. 

Keep a separate business bank account and credit cards for your business. 

  1. Failure to shop around for financing

58% of small-business owners do not shop around when looking for small-business loans online according to survey.

It doesn’t hurt to see what your options are.  If you don’t qualify for a bank loan then you can go to online lenders. 

Conclusion

Learning these mistakes to avoid and reaching out to other small business owners about their insights and experiences can lead you to the right path of success. YourOffice offers you a wide choice of office and workspace solutions: flexible office space, team office space and virtual office packages. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.

Who handles your business finances?  Feel free to share your comments below.  You can also visit us on Facebook and Twitter

Success in business

A recent article, How to Create More Successful Habits for Your Business by Ken Sundheim tells that at some point in our lives, we may lose sight of our original goals and find success an impossibility.  Completing the race to the finish, no matter how difficult or how long it….
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A recent article, How to Create More Successful Habits for Your Business by Ken Sundheim tells that at some point in our lives, we may lose sight of our original goals and find success an impossibility.  Completing the race to the finish, no matter how difficult or how long it takes, is about integrity and strength.

It is truly our habits that determine whether we keep moving forward and finish the race, or if we stagnate. Here’s how to cultivate positive habits for your advancement. 

Be specific in what you want to achieve.  

When you define your objectives in vivid detail, you begin to see what it will take to get where you want to be. 

Stay focused on one thing at a time.  

You must learn to stay focused in order to achieve your full potential regardless of how difficult or simple a task is. For example, when you have a conversation with a co-worker in a coworking office space, you should be mindful and present with that person. 

Equate difficult tasks to greater rewards 

Begin to contemplate that the harder the task, the bigger the reward. Work becomes more engaging and rewarding when you think in terms of the positive result that will come from completion of a job. 

Learn to control impulses and emotions.  

Failure to control strong impulses and emotions is one of the major destructions to success. When you cannot focus, you cannot achieve any significant tasks. Also, your behavior impacts others. Controlling your emotions means you are thinking of others, and not allowing harmful words or actions to enter the workplace.

 Have control of your body to gain control of your mind.  

Learn to fight negative thoughts by engaging in deep breathing exercises.  For instance, take a moment to stand on your feet with your chest out and take a deep breath.

Conclusion

Regardless of where we stand right now, these tips can help us cultivate successful habits to help us thrive.  A great work environment also cultivates good working attitude towards efficiency and productivity.  YourOffice offers you a wide choice of office and workspace solutions: flexible office space, team office space and virtual office packages. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.

What habits help you thrive? Let’s see your thoughts below.  You can also visit us on Facebook and Twitter.

Strong Work

A recent article, 5 Ways to Stop Being Busy and Start Being Effective by Ceren Cubukcu says that being busy is not always a sign of being effective or successful. In fact those who constantly mention that they are very busy are often not properly managing their time. Below are….
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A recent article, 5 Ways to Stop Being Busy and Start Being Effective by Ceren Cubukcu says that being busy is not always a sign of being effective or successful. In fact those who constantly mention that they are very busy are often not properly managing their time.

Below are some helpful tips for being more effective and less busy.

  1. First things first. 

Prioritize your tasks and avoid wasting time with things that are unnecessary. For instance, don’t always check your emails or social media accounts. Complete what you are working on first and then, start replying to emails or returning calls. It’s impossible to get everything done at the same time.

  1. Don’t say yes to every assignment. 

Don’t say yes to another assignment just to please the leader in your  team office space. Especially if you still have more on your plate than you can handle. Saying yes to everything, will reduce your efficiency and success rate because. You just won’t have the energy and focus that you would if you focused on one project at a time.

  1. Don’t allow others to distract you.

Concentrate on the task that you are working on and don’t allow your coworking office space to distract you. Don’t let anything shift your focus until you can take a break or have finished it to completion.

  1. Spend time with your friends and family. 

Not everything is about working. You need to take the time to relax, clear your mind, and invest in personal relationships. Doing so will make your work life, and your personal life even better.

  1. Get enough sleep and schedule breaks. 

Try to sleep early and get at least six to eight hours of sleep every night. Also, take some breaks during the day. During your break step away from the desk and clean your focus from what you were working on. This will help you stay more motivated and as a result, you will finish sooner and do a better job.

Conclusion

Proper time management will help you become more effective and productive.  A great workplace also affects work motivation and efficiency. YourOffice is a leader in providing the most prestigious executive office space and shared office space for any size business. Convenient, hassle free, and move in ready- our offices, meeting rooms, and conference rooms are designed to meet your business’ every need.

How do you manage your time?  Feel free to share your comments below.  You can also visit us on Twitter and Facebook.

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A recent article, Tips for Staying Productive While Working From Home by Joel Goldstein says that many companies are opting to move to a remote workspace where employee turnover is narrowed, employees morale and efficiency are improved, rental and maintenance fees are reduced and many other benefits.  However, some workers may….
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A recent article, Tips for Staying Productive While Working From Home by Joel Goldstein says that many companies are opting to move to a remote workspace where employee turnover is narrowed, employees morale and efficiency are improved, rental and maintenance fees are reduced and many other benefits.  However, some workers may find the change difficult to manage and adjust to.

Here are techniques to stay productive through the change.

Choose your most productive hours.

You don’t have to work hours that aren’t conducive to when you function best. If you can’t wake up early in the morning to start your day then plan to sleep in and work late. Working when you are most productive makes the most sense.

Make it clear you’re busy working.

Make it clear to your family and friends they should treat you as if you’re still working in a team office space and assume you’re not around.

Set a completely separate workspace.

Set a completely secluded space and design it like an executive office space so the moment you enter the room, it’s time to get busy.

Organize your tasks.

Schedule time in the morning so you can create a to-do list and finish important tasks immediately. If possible, schedule your calls in the afternoon so you can fully concentrate on the content of the meeting instead of worrying about thinking about all the things you still need to do.

Keep in touch.

Make sure you have technology to use to keep in touch with your coworkers, whether it be email or video chats to get that face time. Doing this makes you feel you’re part of a team with the knowledge a co-worker could collaborate with you any time.

Conclusion

Working from home is rewarding to both parties. However, working outside of your home also has benefits that can really refresh your creativity and productivity. YourOffice is looking forward to help you with finding the place you work best.  YourOffice offers you a wide choice of office and workspace solutions: virtual office space, meeting room access, and coworking office space. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.

How do you stay motivated working from home? Let’s see your comments below. You can also visit us on Facebook and Twitter.

Office Space

A recent article, 6 Ways Nature Helps You Get More Out of Your Employees  by Rieva Lesonsky shows how people whose workplaces have a touch of nature are more efficient and feel happier at work.. This can include things such as natural light, greenery and outdoor views. Nature has a soothing….
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A recent article, 6 Ways Nature Helps You Get More Out of Your Employees  by Rieva Lesonsky shows how people whose workplaces have a touch of nature are more efficient and feel happier at work.. This can include things such as natural light, greenery and outdoor views. Nature has a soothing effect on people, helping them manage everyday stress and maintain their work performance.

Here are four tips to bring more of nature into your home office, coworking space or team office space.

  1. Use indoor plants

Adding bright colors (green, yellow or blue) and indoor, ornamental plants in your workplace can give you and your staff an energy boost from the moment you walk in the door. Good vibes will help you start your busy day.

  1. Use natural lighting

Studies suggest that natural lighting is the most desired feature in office design. Employees with window views are prone to spending more time at the office each week than employees without windows.

Think of how you can renovate your office to bring in more natural light.  For instance, relocate common areas near the windows or remove curtains or window blinds that obstruct natural light. You can use artificial lighting that has the components of natural light if your office doesn’t have windows.

  1. Use natural colors

Natural colors particularly, white, yellow, browns, greens and blues improve efficiency, exuberance, enthusiasm and creativity. Using pale natural shades help people relax and focus, while brighter shades can boost them for creative work group tasks. Never, never use gray— it consumes energy  and creativity and increases stress levels.

  1. Fake It Till You Make It

While it’s not as effective as the real thing, a workplace that has no touch of nature at all is boring. Adding landscape/seascape photographs or artwork, or nature inspired wallpapers can boost employee happiness and productivity.

Conclusion

Follow these tips to bring “life” in the workplace and get a more dynamic, productive and happier workforce. YourOffice has come alongside hundreds of businesses looking for everything from staffed flexible offices to agile office space. We know your business is unique, and your office space shouldn’t be any different. Let us match the perfect space or service to fit your business needs.

 

How do you add a touch of nature in your workplace? Feel free to share your thoughts. You can also see us on Facebook and Google Plus.

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A recent article, 3 Things You Must Have in Your First Office by James Roberts says that  many freelancers opt to start working from home, but there comes a time when they need to rent office space for their growing needs and working from home isn’t always the best option…..
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A recent article, 3 Things You Must Have in Your First Office by James Roberts says that  many freelancers opt to start working from home, but there comes a time when they need to rent office space for their growing needs and working from home isn’t always the best option.

Here are three key factors to consider when looking for an office space, whether it’s a coworking office space or an exclusive office space to ensure business success.

1. Accessibility

It’s very important to consider accessibility when you’re looking for an office space. A location in the middlfe of nowhere may not be the best fit even if it is substantially cheaper than city prime locations. If your clients need to travel long distances to reach you, this can be a problem. Similarly, even if the office is located somewhere in the middle of the city, but parking is difficult, it may deter your clients from visiting your office and may mean losing them.

2. Reliable internet

Having internet that you can rely on at all times is a must. It’s crucial to have a reliable connection so that you can reach your clients when needed. Internet connection is vital to video conferencing, completing tasks, and staying connected with your clients and employees. More people are opting to use video conferencing to conduct meetings to avoid the stress and cost of travel.

3. Meeting space

If you don’t have meeting rooms in your office space, consider meeting rooms for rent. Also, you should think about what your office space says about you and your business. While comfy, casual seating may be fine for you, it isn’t for meeting clients. Closing a deal, or making a pitch should be done in a professional atmosphere.

Conclusion

Looking for an office space can be daunting as it significantly affects your overall business operation. If you need professional advice to help you decide what office is the best fit for your business, YourOffice features a network of world-class business addresses. Each location offers both beautifully appointed short term offices and permanent individual office space. Our offices are move-in ready and equipped with top furnishings and technology that are guaranteed to leave a lasting impression.

What other things do you need to consider when choosing an office space?  Feel free to share your comments and suggestions below.  You can also visit us on Twitter and Google Plus.

4 Obstacles to Your Career Advancement

A recent article, Can You Start a Business Without a Lawyer? by Sarah Landrum says  that launching your own business is pretty hard and entails lots of expenses.  These expenses include shelling out for lawyer services to help you avoid many startup drawbacks and to provide legal and financial protection…..
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A recent article, Can You Start a Business Without a Lawyer? by Sarah Landrum says  that launching your own business is pretty hard and entails lots of expenses.  These expenses include shelling out for lawyer services to help you avoid many startup drawbacks and to provide legal and financial protection.

Here are some cases where you need a lawyer for your startup.

Buying an existing business

When your business endeavor involves purchasing an existing business in an individual office space, a lawyer will help you with the following:

  • Write the purchase agreement
  • Set up the payment system
  • Protect against liability
  •  Help to minimize taxes
  • Provide advice about permits and licenses

Choosing a structure

The process of choosing the proper and best fit structure for your business is complex, with multiple layers. A business lawyer can help you choose the right structure (whether Sole Proprietorship, Limited Partnership or LLC) and organize it in the way it needs to be, to give your new business a better chance to thrive.

Complying with business requirements

Starting a business involves registration, permits, taxation and other related business requirements, and a lawyer will help you comply with these requirements speedily.

Checking the Details

A lawyer facilitates the process of checking details of your business (e.g. ensure your business name isn’t already in use–not registered with the U.S. Patent and Trademark Office).

Conclusion

Launching your own business involves risks, nevertheless hiring a lawyer provides you stability, security and ease during the initial setup. Then all you have to do is hire top talent and look for a presentable workplace to make your business a success.  YourOffice is a leader in providing the most prestigious executive office space and shared office space for any size business. Convenient, hassle free, and move in ready- our offices, meeting rooms, and conference rooms are designed to meet your business’ every need.

Did you hire a lawyer when you launched your business?  We’d be glad to see your comments below. We’d also appreciate seeing you on Twitter and Facebook.

Small Business

A recent article, Top 3 Small Business Technology Trends by Drew Robb says that there are three essential trends that will influence the small business technology arena in 2016, namely: the cloud, security and mobile technology. Let’s discuss these. 1. The Cloud The cloud is ready to outstrip on‐premises deployment….
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A recent article, Top 3 Small Business Technology Trends by Drew Robb says that there are three essential trends that will influence the small business technology arena in 2016, namely: the cloud, security and mobile technology.

Let’s discuss these.

1. The Cloud

  • The cloud is ready to outstrip on‐premises deployment in 2016 in areas such as collaboration, file sharing, and marketing automation.
  • “More businesses are choosing managed cloud‐service providers to maintain the underlying technology.” This allows business owners the ability to focus on their customers and grow their businesses.
  • Larger or more tech‐savvy SMBs also look to the cloud for analytics capabilities such as IBM Watson, SAP Lumira Cloud, Microsoft Power BI, and MicroStrategy Analytics Express.

2. Cybersecurity

Small business owners better get ready for more cyber attacks this year. Cybercriminals are usingransomware and targeting SMBs to quietly extract funds at disturbing rates.

The best defense against this threat is tried‐and‐true best practices for safety such as employee training, backup, firewalls, anti‐virus (AV), anti‐malware, intrusion detection systems, intrusion prevention systems, etc.

If you plan to use third‐party cloud providers, ensure you select your vendor wisely. Small businesses should refrain from using consumer‐grade tools or tools that have insufficient security. Be aware that data breaches can end up putting you out of business.

3. Mobile Technology

SMB Group surveys show that 59 percent of small businesses see mobile technology as vital to their business, with 70 percent expecting mobile apps to replace at least some of their existing business applications.

Because mobility trends are on the rise, SMBs have to prioritize mobile apps and features that satisfy the most pressing needs, looking at how your clients and teams want to interact with your company on a mobile device.

Conclusion

These three important trends are really beneficial to businesses but the level of technology needed will depend on what type and even what size small business you have. As a small business, you may also look for a workspace solution to best suit your business needs. YourOffice has come alongside hundreds of business looking for everything from staffed flexible offices to agile office space. We know your business is unique, and your office space shouldn’t be any different. Let us match the perfect space or service to fit your business needs.

We hope this article has been an informative one and we’d love to see your comments below. You can also see us on Twitter and Google Plus.

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A recent article, 5 Reasons You Should Start a Business With Your Best Friend by Wombi Rose  says that starting a business is not easy but having someone to help you is awesome, and your best friend could be the perfect buddy in your business journey. Here are the reasons….
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A recent article, 5 Reasons You Should Start a Business With Your Best Friend by Wombi Rose  says that starting a business is not easy but having someone to help you is awesome, and your best friend could be the perfect buddy in your business journey.

Here are the reasons why.

1. You’ll need emotional support

Starting a business is a roller coaster with extreme highs and lows; you become emotionally invested in your startup. Each success is just like a shot of pure adrenaline and every failure is like a punch in the gut that can derail you. It’s in those times where working with your best friend can keep your guts and sanity. Whenever you’re having a really hard time, your partner has to be there to lift you up and get the train back on track.

2. You’ll need to trust your partner

It’s important that you can trust your partner when your team is small. There’s so much going on that you have to trust others to handle things you just can’t watch yourself. When you’ve known someone for many years, like you’ve known your best friend since high school days and you really know their strengths, you can completely depend on them.

3. You’ll have a great rapport

When you’re starting a business, you’ll be spending a lot of times with your partner and having a great personal rapport is beneficial. Certainly there are anxious times and a lot of arguments along the way but no matter whose ideas prevail, you both win. You’re not competing anyway.

Conclusion

It’s not often that you have the opportunity to work with your best friend, but if you have, then start your business journey together. Build your business on the basis of trust and confidence alongside with your talents and skills blended harmoniously. YourOffice is looking forward to help you with your startup and thrive. YourOffice features a network of world-class business addresses. Each location offers both beautifully appointed short term offices and permanent individual office space. Our offices are move-in ready and equipped with top furnishings and technology that are guaranteed to leave a lasting impression.

Would you like to start a business with your best friend? Feel free to share your thoughts.  You can also reach us on Facebook and Google Plus.

Business Loan

A recent article, 6 Common Cash Flow Mistakes to Avoid by Carl Faulds tells that most startups and SMEs don’t succeed due to poor and weak cash flow even the most visionary business can be thwarted by mismanagement of cash flow. Here are four common botches and how to avoid….
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A recent article, 6 Common Cash Flow Mistakes to Avoid by Carl Faulds tells that most startups and SMEs don’t succeed due to poor and weak cash flow even the most visionary business can be thwarted by mismanagement of cash flow.

Here are four common botches and how to avoid them.

1. Unrealistic sales forecast.

High level of optimism motivates every entrepreneur to launch a business in individual office space. Nevertheless, it’s crucial that this optimism is balanced with objectivity.

A good mentor or an accountant can guide you forecast sales with accuracy, allowing you to make sound judgments and make attainable projections.

2. Impulsive spending.

Of course there are plenty of costs that you should encounter in the first few months of your business in small office space orlando, but it’s not appropriate to invest abruptly in an anticipated growth.

Make sure you circumspectly consider the possible benefit of every pound of extra expenses.

3. Allowing late payments.

If you don’t ensure that invoices are paid within a reasonable period of time, you could find yourself confronted with cash flow issues.

Establish clear policies for payment you can offer a discount for early payment and financial penalties for late payers.

4. Failure to make a cash flow plan.

You’ll be in trouble if you don’t track your daily cash flow even if you maintain effective credit control and cautiously manage your expenses.

Scrutinizing past data will enable you to anticipate future cash flow, factoring in seasonal variations. For instance, Christmas season is considerably tight as sales may increase but payments may be slower due to consumers closing down their accounts departments for a week or more.

Conclusion

Knowing the common pitfalls of cash flow and how to avoid them will protect your business from risk. Finding the right accountant and workplace for your business will definitely help you thrive. YourOffice offers various solutions to help you spend within your budget. YourOffice is a leader in providing the most prestigious executive office space and shared office space for any size business. Convenient, hassle free, and move in ready‐ our offices, meeting rooms, and conference rooms are designed to meet your business’ every need.

We hope this article has been informative one and we’d love to see your comments below. You can also see us on Facebook and Google Plus.