Category Archives: Philly

Business Needs a Budget

A recent article, 6 Tips for Sticking to Your Small Business Budget by Serenity Gibbons defines budget as a guiding force that permits you to make sense of what’s going on around you.  Creating a budget is one of the most crucial responsibilities of a business owner. Here are some….
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A recent article, 6 Tips for Sticking to Your Small Business Budget by Serenity Gibbons defines budget as a guiding force that permits you to make sense of what’s going on around you.  Creating a budget is one of the most crucial responsibilities of a business owner.

Here are some particular reasons for needing a budget.

1. It creates a target.

A budget provides your business something to aim for.  It gives you concrete guidelines on how to attain your goal. Setting a budget helps you in forecasting your revenues and expenditures.

2. It establishes priorities.

Your budget guides and clearly outlines how your actions should be prioritized. For instance, it helps you decide whether to rent a commercial office space or a shared office space.

3. It conveys priorities.

It also conveys your business priorities to your staff. For instance, if your budget is greatly focused on sales, then it’s obvious that your top priority is driving revenue. Or if it is greatly focused on employee training (e.g. meeting rooms rental for staff workshops and seminars) then this conveys that the company’s first priority is investing in talent.

4. It brings everyone on the same page.

A budget makes it easier for a big organization to get everyone focused and moved towards a specific goal by clearly outlining what the business is focusing on and what role each department or employee plays. 

5. It provides a measuring stick.

While budgets are great for getting everyone on the same page, they’re used as a measuring stick. At the end of a quarter or fiscal year, you can measure and evaluate how well you operate and run the business, and make budget amendments if necessary.

Conclusion

While there are many other responsibilities you have as a business owner, budget is always to be considered. Looking for great workspace solutions in Philadelphia within your budget?  YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.

How budgets help you run your business efficiently?  Feel free to share your thoughts. You can also visit us on Twitter and Facebook.

Manage Overhead Costs

A recent article, Analyzing Overhead Costs is Vital in a Business’ Early Stages by David Kiger says that overhead costs-fixed costs (from office space to equipment to supplies) are a major aspect of new small businesses. Business owners have to learn how the costs align with their plans and revenue….
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A recent article, Analyzing Overhead Costs is Vital in a Business’ Early Stages by David Kiger says that overhead costs-fixed costs (from office space to equipment to supplies) are a major aspect of new small businesses. Business owners have to learn how the costs align with their plans and revenue goals.

Here are a few tips to get a smart start on your entrepreneurial efforts.

Office space

A new business owner will have to consider the costs of rental space, and determine if the lease contract works with the overall plan.  There must be a clear need because office rental is a major investment.  Ensure that the agreement terms and office plans are flexible, that there’s an appropriate set-up for your business now and several options to support your future growth.

Reuse, recycle

Any savings that come from reuse and recycle efforts can help with an overhead-reduction plan. Folders, papers and other office supplies that can be reused or recycled can be a cut in your purchasing costs or garbage collection fees.

Utilize cloud computing

Cloud computing can be more cost-effective in regards to the equipment and software required for daily operations, but it also offers greater flexibility. You don’t need to buy costly systems, but you can rent software applications and storage space as needed.

Ask feedback

You can book a meeting room and brainstorm with your team what overhead costs can be reduced.  Their feedback matters that will not only help you find other ways to cut on expenses, but can also foster employee trust and loyalty.

Go paperless

Instead of printing tons of documents, share them electronically if possible.  You can considerably save on printers, ink or toner, papers and storage space.  But ensure to save and back up your documents in a drive or to the cloud.

Conclusion

These tips will allow you to reduce overhead costs to stay afloat. Likewise, Office Space Brokers will help you decide what workspace solutions suit best for your startup within your budget.  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.

How do you manage your overhead costs?  Let’s see your thoughts.  You can also visit us on Facebook and Twitter.

Entrepreneurs

A recent article, Why Entrepreneur Should Work on Taxes Before the end of the Year by Kayla Sloan says that toward the end of the year, many people are so excited and busy for the holiday season.   But another season is just about to start as well—the tax season. Unfortunately,….
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A recent article, Why Entrepreneur Should Work on Taxes Before the end of the Year by Kayla Sloan says that toward the end of the year, many people are so excited and busy for the holiday season.   But another season is just about to start as well—the tax season. Unfortunately, it’s usually one that people don’t look forward to nearly as much as the holidays.

Nevertheless, here some grounds why business owners should work on taxes before the end of the year.

1. You will be more ready for the possibility of a big tax liability.

If you are a successful entrepreneur in an agile office space, your tax liability will likely cost you a lot. So, you can set aside more funds if you have not saved enough by having a rough estimate of how much you owe.

2. You can make changes that could lessen your tax liability.

If your tax liability is going to be high, you may make some purchases before the end of the year so you can deduct them in  the current year. For instance, you can purchase furniture and equipment which you intend to buy for next year, or you can stock up supplies for your business.

3. You can have more time to seek professional tax advice.

Collating all of your data and working on taxes during the holiday season may not be enjoyable, but it gives you ample time you need to seek advice of a tax expert. For instance, you can book a meeting room and discuss with a tax expert if donating to a charity institution or  transferring to another office space before year-end is ideal. You may also have time to ask about other deductions so you can lower your tax liability.

Conclusion

Evidently there are good grounds why entrepreneurs should work on taxes before the end of the year and cash in on savings in the process. Looking for better workspace solutions for your business expansion in Philadelphia? YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.

Are you preparing for the tax season? Let’s see your thoughts. You can also see us on Facebook and Twitter.

Mistakes You Should Avoid

A recent article, 5 Big Mistakes Your Small Business Keeps Making — And How to Correct Them by Annie Pilon says that small businesses are making a lot of mistakes that could significantly hurt their employees and bottom line.  But certainly, it would be impossible for any business to operate….
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A recent article, 5 Big Mistakes Your Small Business Keeps Making — And How to Correct Them by Annie Pilon says that small businesses are making a lot of mistakes that could significantly hurt their employees and bottom line.  But certainly, it would be impossible for any business to operate completely free of mistakes.

Here are small business mistakes you should avoid to help you succeed.

1. Lowering Prices to Compete

It can be tempting for a small business in a commercial office space to lower prices to make products or services more attractive to customers to prevail in tough competition. But usually small businesses are not ready to shoulder those losses, but only jeopardize their own interests.  

Instead of reducing prices, focus on adding value to your product or service.  Customers are usually willing to pay a bit more for something that provides a great experience.

2. Embracing all Generic Advice

There are a lot of general statements out there that don’t necessarily apply to every business. And following that generic advice is usually what leads to failures.

Book a meeting room and schedule a meeting with an expert/professional who can give you advice specifically designed for your situation.

3. Putting workers into Generational Boxes

You’ve heard about generalizations, Baby Boomers aren’t innovative and Millennials aren’t team players.  These generalizations are not just detrimental to workers, but your business can also lose the opportunity of building a great team.

Every generation has strengths and weaknesses, thus you should hire based on merit. Allow the people prove themselves, and your business could benefit from a truly diverse working environment.

Conclusion

If you learn most common mistakes made by other business owners, you can avoid falling into bad habits that can really cost your business. If you’re looking for workspace solutions for your small business in Philadelphia, Office space brokers can help you decide what is best for your business. YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.

We hope this article has been a helpful one.  We’d also be glad to see your comments below.  You can also see us on Twitter and Facebook.

Effective  Presentation

A recent article, How to Present Effectively by Miranda Marquit believes that presentation skills are vital in today’s business world.  Learning how to present effectively is a skill that can help you excel in almost any field. Here are tips to have a successful presentation. 1. Get in the habit of practicing…..
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A recent article, How to Present Effectively by Miranda Marquit believes that presentation skills are vital in today’s business world.  Learning how to present effectively is a skill that can help you excel in almost any field.

Here are tips to have a successful presentation.

1. Get in the habit of practicing.

“Practice makes thing perfect”.  Since you already have the materials for your presentation, rehearse until you feel confident and all set to deliver your presentation to your audience in a meeting space.

2. Start by getting the audience attention.

To have effective presentation, you need to get the audience attention first. Don’t start with telling who you are, but you can start by sharing an interesting fact that backups your presentation or you can ask a relevant question to get audience attention. You can also start with telling an engaging story that is relevant to the point you want to drive.

3. Use key points to emphasize your core message.

Think about three key points and use them to emphasize your core message. Your presentation should focus on those items, don’t deviate from the very core of your subject. Ensure that you gradually going through the heart of your message and your audience is all set to receive it.

4. Modulate your voice and use appropriate body language.

Using your voice and body language can be an effective way to keep your audience engagement, but don’t exaggerate it, make it natural. You can vary the tone or pitch of your voice; you can include significant pauses to change the rate of your speech and at the same time it allows you to connect with your audience. Make eye contact with audience members and smile. Make gestures that are open and inviting. If possible, move around on the stage.

Conclusion

These tips will help you deliver successful presentations to thrive in your chosen field.  Looking for meeting rooms for rent for your presentation in Philadelphia? YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. 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 prepare for your presentation? Let’s hear your story.  You can also visit us on Facebook and Twitter.

Employee Productivity

A recent article, 5 Ways to Increase Business Productivity by Steve Wilson says that running a business is overwhelming, thus increasing your team engagement and promoting their happiness will help you boost productivity and generate more revenue while using fewer resources.  Here’s what you need. 1. Automate and outsource Most….
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A recent article, 5 Ways to Increase Business Productivity by Steve Wilson says that running a business is overwhelming, thus increasing your team engagement and promoting their happiness will help you boost productivity and generate more revenue while using fewer resources.

 Here’s what you need.

1. Automate and outsource

Most employees choose to spend their time working on their expertise and skillset as opposed to completing monotonous tasks, such as filling out numerous forms and documents. Automation software allows your employees to spend more time in their focus area. You can also hire a virtual receptionist to answer calls “live” in your company’s name, voicemail and call transfer to increase employee and company morale.

2. Promote a flexible work environment

Employee happiness and satisfaction is a key factor in productivity. People like having choices and autonomy, so provide it in the form of flextime, telecommuting options (e.g. allow them to work from home or in a virtual office space at least once a week) or simply offer more vacation time. This provides employees the freedom to choose how to be engaged and happy.

3. Implement workflow system

Implement an organization system to keep track employees responsibilities and workloads. For instance, you can book a meeting room once a week to help teams communicate regularly and effectively about long-term projects or goals. These meetings and discussions allow the team to both sync on responsibilities and collectively find ways to overcome any obstruction from completing business goals.

4. Promote employee advancement

Employees that fall into a monotonous routine will find themselves feeling unhappy, so support their personal and professional development through active learning, like workshops, seminars and team building activities. Offer opportunities for employees to develop personal hobbies or to take on new professional responsibilities.

Conclusion

These simple tips plus a well designed and comfortable workspace is essential for your team happiness and engagement. Looking for workspace solutions for your team in Philadelphia? YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. 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 improve your team engagement and productivity?  Let’s see your thoughts below.  Feel free also to visit us on Twitter and Facebook.

Your Office

A recent article, Picking the Right Office for Your Business: 5 Things to Consider says that launching and running a startup entails planning and decision making to ensure that your business will thrive. One of these important plans is choosing the office where you and your team will be working together to….
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A recent article, Picking the Right Office for Your Business: 5 Things to Consider says that launching and running a startup entails planning and decision making to ensure that your business will thrive. One of these important plans is choosing the office where you and your team will be working together to succeed.

Here are five factors to consider when you are looking for the right office space for your business.

  1. Size

Ensure that the office space is big enough to accommodate all your employees. You should also consider if there’ll be sufficient space for additional manpower to join your team in the future for your business expansion. Office space brokers can help you decide what office space is best for your business.

  1. Location

It’s very important to consider where most of your employees are located.  The office should be located near your employees’ homes if possible to avoid tardiness due to long commute and heavy traffic.

  1. Accessibility

Moreover, it’s necessary to choose a space that is accessible to your future clients, investors and other businesses with which you can start collaboration. Choosing a business district location will make it easier for your clients to connect to you in person.

  1. Costs

It’s important to seek for a professional help to determine exactly how much money you are going to spend to move your business into a new office.

  1. Amenities

Remember, you and your team will spend a lot of time in your office, so ensure you’ll be choosing an office that has the facilities to serve your employees. For example, ensure that there is a kitchen area where your employees can eat their lunch or a meeting space where they can relax and meditate during office breaks.

Conclusion

Providing a well designed and comfortable office for your team is a great way to make your employees happy and more productive. Looking workspace solutions in Philadelphia?  YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.

What other factors do you consider when you choosing your office?  Let’s see your comments.  You can also see on Facebook and Twitter.

Expand Your Business

A recent article, 4 Things to Consider Before Expanding Your Business by Sarah Landrum says that expanding your business requires proper planning.  Without the right approach, you risk losing the entire business — not just the expansion you were hoping for. Here are three tips to consider if you want….
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A recent article, 4 Things to Consider Before Expanding Your Business by Sarah Landrum says that expanding your business requires proper planning.  Without the right approach, you risk losing the entire business — not just the expansion you were hoping for.

Here are three tips to consider if you want to come out successful.

  1. Identify whether you’re capable of taking on new work.

If you’re considering a second location or work on another project, ensure you have the resources and time to focus on your expansion. But if you and your team are already struggling to keep afloat, don’t drown yourselves with other loads and projects. Don’t assume a second location or a larger team will help you reduce the pressure of your work, especially if you can’t handle the clients and customers you already have.  It won’t take you any further.

  1. Check your finances before you make any decisions to expand your business.

You need to be prepared to make an investment.  If you don’t have the cash flow to cover expenses for your expansion such as office space rental, salaries, marketing, etc., you could be looking at some serious debt for many years ahead. Expanding before you’re prepared could prevent you from being profitable for even longer.

  1. Ensure to talk with your team before you make any decisions to expand.

Expanding your business may entail new challenges you have not experienced before.  So, even if you have the funds, the time and the resources to expand, but you don’t have the right motivation or commitment from your entire team, you may struggle to find the same level of success. You can book a meeting room to discuss with your team, your plan to expand to ensure they’re prepared for the challenges before you make any decisions.

Conclusion

These steps will help you determine whether or not you’re ready for an expansion.  If you’re fully equipped to expand your business in Philadelphia, YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. 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 ensure that you’re ready to expand? Let’s see your thoughts.  You can also see us on Facebook and Twitter.

Business Operations

A recent article, 6 Ways to Improve Business Operations by Mike Kappel says that improving your business operations regularly is essential to help your business run more smoothly and efficiently.   Here are ways to improve your business operations. See if your business processes are up-to-date.  Staying up-to-date with developments relevant….
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A recent article, 6 Ways to Improve Business Operations by Mike Kappel says that improving your business operations regularly is essential to help your business run more smoothly and efficiently.  

Here are ways to improve your business operations.

  1. See if your business processes are up-to-date.  Staying up-to-date with developments relevant to your business helps you find best practices. Of course, some processes will stay unchanged because they make your business unique; nevertheless letting go of obsolete practices will open the door for business process improvement. Book a meeting room and discuss with your team new tools, methods, and techniques that will help improve productivity.

  2. Resolve small issues more quickly.  These minor problems can escalate if not deal accordingly.  Brainstorm solutions for these problems, and implement the ones you believe will work best. Seek advice from experts and colleagues in your industry to know how they handle similar problems.

  3. Set measurable goals. Identify your goals and create actionable steps to accomplish goals and gauge how well you implement the plan.  Use a standard system to evaluate how your business is doing. Use historical data in making smart decisions for your business operations.  

  4. Involve your employees. Ask your staff in team office space where improvements can be made. Ensure your team knows their opinions matter and you are open to suggestions. Getting your employees involved fosters loyalty and trust.

  5. Take a step back to review your business plan and processes.  Reflect on the success of your operating efforts; determine which processes work and which need modification or revision. Continue to try new practices to propel your business forward.

Conclusion

There is always room for improvement, whether you run a startup or an established business.  These tips will help you stay afloat and thrive in the business world. Looking for workplace solutions for your team in Philadelphia for more convenience?  YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.

Any other tips to improve your business operations?  Feel free to share your thoughts.  We’d also be glad to see you on Twitter and Facebook.

Start a Business

A recent article, Mistakes to Avoid When Starting a Family Business by Valerie Rind says that if you are considering starting a family business, be careful.  It might affect both your professional success and personal relationships. Here are tips to help you succeed both in your business and personal relationships. 1. Seek advice from….
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A recent article, Mistakes to Avoid When Starting a Family Business by Valerie Rind says that if you are considering starting a family business, be careful.  It might affect both your professional success and personal relationships.

Here are tips to help you succeed both in your business and personal relationships.

1. Seek advice from an accountant or a lawyer.

Before you launch your family business in a commercial office space, seek advice from an accountant or a lawyer to determine the best structure for your business whether LLC, corporation or other business entity.   Legal entity that’s separate from you and other family members involved in the business will protect you from losing your personal assets.

2. Create separate business accounts.

Once you’ve decided and chose the best structure for your family business, you need to set up business banking accounts that are separate from employees’ personal accounts. You can hire a freelance accountant from a virtual office space to help you with recording and tracking your revenues and expenditures for tax purposes.

3. Set clear roles and responsibilities.

It’s very significant to ensure that all of your business processes are covered and there is no overlapping of roles, so each individual should have specific assigned duties and tasks to ensure that everyone is committed to their responsibilities.

4. Formulate an exit plan.

A family member might decide to leave the business eventually, hence a written exit plan helps prevent future arguments and establishes a solid plan for succession.  You can book a meeting room to conduct a sit-down meeting with the involved family members and get a lawyer to help you formulate this plan.

Conclusion

Considering these tips will help you launch a successful family business while protecting your wonderful personal relationships. Looking for workspace solutions to help you start your family business in Philadelphia?  YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.

Are you ready to launch your family business?  We’d love to hear your thoughts. Please visit us also on Twitter and Facebook.