All posts by YourOffice

3 Small Business Challenges and How to Manage Them

In an article, 4 Small Business Pain Points and How to Fix Them by Charles Brown says that running your own small business is a dream comes true, but it is not an easy endeavor. You will experience ups and downs, highs and lows during your business journey. Here are the three….
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In an article, 4 Small Business Pain Points and How to Fix Them by Charles Brown says that running your own small business is a dream comes true, but it is not an easy endeavor. You will experience ups and downs, highs and lows during your business journey.

Here are the three small business challenges that you should understand and how you can address them.

  1. Inadequate Capital

The most common cause why a small business fails is the lack of or misuse of capital. Most of the time we miscalculate how fast the capital will get exhausted, so it is very critical to always look for capital to maintain the business. So as a business owner, you need to always have a few available financing options. An accountant can help you with making the right decision, so you can book a meeting room to discuss what option is best for your business, whether it is a line of credit, small business loan, venture capital, etc. 

  1. Inconsistent Cash Flow

A consistent cash flow is difficult to maintain in a small business due to some factors like debts and late payments. Thus, if you don’t have reserve funds or if your cash in bank is insufficient, it can impede the whole business operation.  In order to avoid late payments from customers, you can use online payment solution that offers online invoicing.  This allows you to connect to your depository bank so your money is automatically deposited.

  1. Employee Turnover

Employees are the backbone of your business. The hiring process is taxing and time consuming, thus one of the biggest challenges for small businesses is the employee turnover.  To reduce turnover rate, you can conduct a regular employee review to better understand their problems, concerns and suggestions, and consider those feedback in building a strong and unique company culture.

Conclusion

Understanding the business challenges and how to address them can help you launch a thriving business. If you are looking for workplace solutions to launch your small 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 face the challenges of running a small business? Feel free to share your thoughts. You can also see us on Twitter and Facebook.

4 Actionable Tips to Hear Your Customers

As a product manager or a business owner, it’s always your task to listen to customer feedback (whether negative or positive), to have a better understanding of their wants and needs, and thereby improve your products or services. However, in an article, 5 Ways Product Managers Can Get Closer to….
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As a product manager or a business owner, it’s always your task to listen to customer feedback (whether negative or positive), to have a better understanding of their wants and needs, and thereby improve your products or services. However, in an article, 5 Ways Product Managers Can Get Closer to Their Customers in the Cloud by Megan Rees Ahigian says that methods like surveys, feedback forms, focus groups, etc. are oftentimes expensive and time consuming to prepare and manage.

Here are alternative ways to get your customer’s feedback to help improve your products or services.

  1. Meet your sales team. 

Your sales team have direct interactions with your customers almost every day, thus can quickly and easily provide you a comprehensive picture of your consumer’s attitudes, needs, complaints, issues, etc. Schedule a conversation with your sales team in a meeting space and listen to them about the features they want to improve or add in your products.

  1. Follow customers on social media.

Many consumers use social media like Instagram,Twitter and Facebook to share their comments and feedback to the public about their experience in your product or service. Thus, using this information will provide you a clear and consistent understanding of how they consider your product or service.

  1. Always Take time to Ask Why.

Sometimes customer feedback can seem irrelevant, inappropriate or immaterial, but remember, “Customer is always right”.  Take time to ask why before dismissing it.  Find out what’s their demand and ask why they want it. Their feedback will give you the idea to assess the necessity of their request.

  1. Patronize Your Own Product.

Patronizing your own product will give you personal experience about the product and you will understand your customer feedback objectively.  Using your own product will provide you honest feedback, and allowing you to give recommendations for improving it further.

Conclusion

Customer satisfaction is the core of your business, thus their feedback is essential to be heard and addressed.  If you’re looking for office space in Lake Mary to get closer to your customers, YourOffice Lake Mary is a leader in providing the most prestigious fully serviced office space Lake Mary and meeting space Lake Mary 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 get a word from your customer?  We’d love to hear from you. You can also see us on Facebook.

 

5 Ways to Have Meaningful Meetings with Your Staff

Having meaningful conversations with your staff is essential to your company’s success. However, in an article, The Top Overlooked Communication Skill of Great Leaders by Lou Casale says that as a leader or manager, if you’re always dominating conversations and keep on talking, you may be missing out on unique….
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Having meaningful conversations with your staff is essential to your company’s success. However, in an article, The Top Overlooked Communication Skill of Great Leaders by Lou Casale says that as a leader or manager, if you’re always dominating conversations and keep on talking, you may be missing out on unique ideas that others are hesitant to share.

Here are some tips to ensure conversations in your company are more engaging and productive.

  1. Encourage participants to come to meetings with ideas in writing.

Allow everyone to discuss their insights, regardless they may sound contradicting. Sometimes an idea that may seem conflicting can ignite enough conversation to turn out to be an idea that makes a big difference.

  1. Focus your undivided attention on the person who is speaking and ask clarifying questions.

Make sure everyone in the meeting space has an opportunity to both speak and listen. Leaders and managers aren’t the only ones who benefit from listening, but it will help your staff better understand the business and its challenges in the future.

  1. Ask thought-provoking questions to yield greater responses and ideas.

Asking great questions will allow you to learn more about your colleagues and the facets of the business you may be less involved with on a daily basis. Great and tough questions will also allow the person who is responding learn and discover things they may not have realized.

  1. Provide positive reinforcement to colleagues who suggest new ideas and solutions.

Recognizing your colleagues in team office space who suggest potential ideas and implementing their solutions on projects will result in more collaborative and meaningful conversations in the future.

  1. Ensure issues that arise are assigned to the right people.

Clearly communicate priorities to everyone so they will understand which projects or tasks are the most significant. Also, allow the right people to give their suggestions on the prioritization of these issues. Follow up with the team or provide status updates accordingly.

Conclusion

By being a good listener, you empower your staff to present new and interesting solutions to the challenges your business faces. You build trust and connectedness within your organization as you set out to accomplish your vision and goals, thus everybody learns and wins. If you’re looking for workspace solutions for your team in Ballantyne, YourOffice Ballantyne has come alongside dozens of businesses looking for everything from office space Ballantyne to meeting space Ballantyne. 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 informative one and we’d love to hear your comments.  You can also see us on Twitter and Facebook!

3 Vital Types of Communication to Keep Your Business

A recent article, The 3 Types of Communication You Need to Maintain Your Business by Michelle Van Slyke says that communication skills directly affect your ability to do business.  Thus, it is essentially important to communicate clearly with your most significant audiences.  Here are 3 most essential types of communication….
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A recent article, The 3 Types of Communication You Need to Maintain Your Business by Michelle Van Slyke says that communication skills directly affect your ability to do business.  Thus, it is essentially important to communicate clearly with your most significant audiences. 

Here are 3 most essential types of communication to help your business succeed.

  1. Start with Yourself.

End of the year is the best time to take inventory of yourself and assess how you are personally performing and how it is affecting your business. It’s extremely important to be sincere and clear with yourself. Consider whether you’ve accomplished your goals for the year and be truthful with yourself if you haven’t. You can ask for honest feedback from your friends, partners, employees and customers to identify the areas that need improvement. Then clearly communicate in writing what you want to accomplish in your business and what you can improve personally.

  1. Your employees.

Once you’ve identified areas for improvement and have a strategic plan, you can book a meeting room to meet your employees and clearly communicate your course of action to them. Including employees in the process early ensures that everyone will be on the same page and have clear expectations for performance. Making employees a part of the process also gives them a sense of value and ownership in the success of the business.

  1. Your customers.

Customers are the backbone of your business and without them you can’t succeed. So, it is very important to clearly communicate what your products/services can provide to make their lives convenient and comfortable. The experience they have with you is just as vital as the actual products you sell. Honest feedback from your customers can provide you insight into what they need and provide inspiration for new ideas. Understanding your customers can also provide new avenues to find new customers.

Conclusion

Yourself, your team and your customers are the most important audiences you need to communicate clearly and honestly to help your small business stay afloat. Your business location has also great impact on your business success.  Thus, if you need a prestigious office location in Orlando, YourOffice Orlando is a leader in providing the most prestigious executive office space Orlando and shared office space Orlando 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 effectively communicate with your most significant audiences?  Let’s see your comments.  You can also see us on Twitter and Facebook.

4 Tips for Entrepreneurs to Move Forward in 2019

A recent article, How Entrepreneurs Can begin The New Year on The Right Foot by Kalpana Arya says that as the year ends, entrepreneurs ensure that no significant tasks fall through the cracks and also  it’s the best time to set new goals and aspirations for a thriving year to….
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A recent article, How Entrepreneurs Can begin The New Year on The Right Foot by Kalpana Arya says that as the year ends, entrepreneurs ensure that no significant tasks fall through the cracks and also  it’s the best time to set new goals and aspirations for a thriving year to come.

Here are four tips for entrepreneurs to start 2019 on the right direction.

  1. Set aspiring and attainable business goals and objectives.

This is the time to define your long-term goals while working on your short-term goals. Look for opportunities to achieve small but significant tasks that set the tone for your business success throughout the year. For example, you can set the goal of achieving 30K likes on your Facebook page in the first quarter of 2019, then if you do it successfully, you can focus on engaging those followers with your posts and turning them into customers.

  1. Focus on strengthening the vision and values of your brand.

Try listing down all those things about your business which are not compelling, rewarding and satisfying. Figure out those gaffes and blunders in business operations which are affecting your sales and customer satisfaction index. This will help you improve the processes to deliver excellent brand experience to customers.

  1. Network, Collaborate with other related-businesses.

Surround yourself with mentors and advisors whom you can ask questions and seek advice. When a strong advisor network backs you, you can make wiser business decisions that will prevent you from doing major blunders and mistakes. Don’t forget to attend business conferences and seminars being held in different meeting rooms for rent to keep updated on the latest development in your industry.

  1. Trim down Overhead Expenses.

Monitor your expenses closely, and determine what expenses can be cut back. For instance, if your staff needs to travel often, you can avail of the loyalty programs from different hotels, or opt for corporate travel bundles to save your business fund. Likewise, strict monitoring of expenses such as representation and entertainment should be implemented to prevent misuse. The money you can save can be allocated for employee bonuses to keep them inspired and engaged.

Conclusion

These simple tips will help your business ready to move forward in 2019. Are you looking for workplace solutions in Denver for your business expansion in 2019?  YourOffice Denver has come alongside hundreds of business looking for everything from Denver staffed flexible offices to Denver 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 get your business ready for success in 2019?  Feel free to share your thoughts. You can also see us on Twitter.

How to Stick to Your Small Business Budget

In an article, 6 Tips for Sticking to Your Small Business Budget by Serenity Gibbons says that creating a budget is one of the most essential things you need to do as a business owner.  However, sticking to that budget is challenging because it involves some factors that are not….
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In an article, 6 Tips for Sticking to Your Small Business Budget by Serenity Gibbons says that creating a budget is one of the most essential things you need to do as a business owner.  However, sticking to that budget is challenging because it involves some factors that are not controllable.

Here are four ways to help you stick to your budget.

  1. Set realistic numbers.

It’s not possible to stick to a budget if you don’t have reasonable figures no matter how organized and detailed a budget is, you can’t possibly achieve anything if the numbers aren’t reasonable. Therefore, create a realistic and conservative budget by carefully evaluating your company’s finances over the last few months. You can book a meeting room and discuss it with your accountant to help you with the task.

  1. Leave a little space for flexibility.

While a budget should be balanced down to the last penny, providing a little space for flexibility allows you to accomplish goals as they arise throughout the quarter or year. This means you need to allocate a percentage of the budget to your emergency fund.

  1. Hold everyone accountable.

Have a periodical meeting with your staff in team office space to ensure everyone is moving in the same direction. Working together as a team is the best approach to stick to the budget.

  1. Review your budget monthly.

One of the biggest blunders a small business owner can do is not to review and study the budget  regularly.  With so many variable factors involved, you need to review your budget on a monthly basis to determine if you need to make revisions to it. 

Conclusion

Following these simple tips will help you stick to your budget. If you need workspace solutions in Ballantyne with your small budget, YourOffice Ballantyne is a leader in providing the most prestigious executive office space Ballantyne and shared office space Ballantyne 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.

Any other tips to help stick to your small business budget?  Let’s see your comments below.  You can also visit us on Facebook and Twitter.

How Negative Feedback can be Beneficial to Your Business

A recent article, 3 Ways Negative Reviews Can Help Your Business by Deborah Sweeney says that negative feedback and bad reviews can be devastating and frustrating, however these can also be beneficial for your business. Here are 3 ways negative feedback can be beneficial for your business. Take negative feedback….
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A recent article, 3 Ways Negative Reviews Can Help Your Business by Deborah Sweeney says that negative feedback and bad reviews can be devastating and frustrating, however these can also be beneficial for your business.

Here are 3 ways negative feedback can be beneficial for your business.

  1. Take negative feedback objectively.

Certainly, negative reviews can be crushing, but don’t take them personally- bear in mind that these aren’t about you. Instead, take negative feedback objectively—detach yourself and your ego and focus from the perspective of the business, so you can address them appropriately.

  1. Use negative feedback to improve poor quality products.

Listening to customers and evaluating their negative comments can oblige you to take action and make necessary changes to your products and services. Each business will have a different approach for addressing these concerns, from refund and exchange to honest apology. The bottom line is to start making the revision/modification as quickly as possible to ensure that your products are working efficiently for customers’ safety and satisfaction.

  1. Use negative feedback to improve training with your team.

Negative feedback is a great tool for your business to evaluate existing policies and you can book a meeting room to discuss with your team appropriate changes. Doing so will help keep everyone on the same page and let you to address any concerns they may have moving forward. It also shows that your business cares for its customers and wants to do better.

Conclusion

Negative feedback can be detrimental, but using negative comments to improve your overall efficiency can propel your business forward. If you are looking for workspace solutions in Philadelphia to help improve your customer service, YourOffice Philadelphia offers you a wide choice of office and workspace solutions: Philadelphia flexible office space, Philadelphia team office space and Philadelphia 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 use negative feedback to improve your business? Let’s see your comments.  You can also visit us on Facebook and Twitter.

Are You Ready to Quit Your Full-time Job

A recent article, 4 Signs You’re not Ready to Quit Your Job by Taylor K. Gordon says that quitting your regular job and  to be a full-time entrepreneur should be taken with diligence. There are steps that need to be taken before you take the plunge. Here are 3 questions….
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A recent article, 4 Signs You’re not Ready to Quit Your Job by Taylor K. Gordon says that quitting your regular job and  to be a full-time entrepreneur should be taken with diligence. There are steps that need to be taken before you take the plunge.

Here are 3 questions you need to ask yourself before you launch your business and quit your job in a team office space.

  1. Do you have enough funds?

Running a business while struggling to make ends meet is an unpleasant situation. Therefore, before taking a leap, you should have enough funds and savings before leaving your job in case unexpected expenses come up or your business has a dry spell.

  1. Do you have solid business plans?

When you just want to work for yourself and become a business owner without solid business plans, you don’t have direction for your business.  You should know exactly where you want to be in six months, in one year, in five years.  How are you going to get there? If you don’t have solid plans, you’re not ready to quit your job.

  1. Do you have a system to get regular or new clients?

Some businesses in plug and play offices have regular customers while others don’t have, but they both thrive. However, regular customers make running a business a lot easier because you have steady or sure income.  If your business doesn’t have recurring clients, make sure you have marketing strategies and plans to get new clients; otherwise you’re not yet ready to quit your job.

Conclusion

You don’t have to quit your job hastily. The best thing you can do is to build a fully functional side gig and then you can make a smooth transition after covering all of the bases of preparation. If you need a prestigious business location in Lake Mary for your side gig to attract more clients, but don’t need permanent office space yet, YourOffice Lake Mary is a leader in providing the most prestigious fully serviced office space Lake Mary and meeting space Lake Mary 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.

Are you ready to quit your job and start your own business?  Feel free to share your thoughts.  You can also visit us on Facebook.

4 Tips to Help Remote Employees Feel Engaged

In an article, 5 Ways to Ensure Remote Employees Feel Part of the Team by Jon Elvekrog says that it could be demoralizing and disengaging to remote team members if they feel left behind on important conversations and culture building activities. Therefore, it’s very important to show that you care in a….
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In an article, 5 Ways to Ensure Remote Employees Feel Part of the Team by Jon Elvekrog says that it could be demoralizing and disengaging to remote team members if they feel left behind on important conversations and culture building activities. Therefore, it’s very important to show that you care in a consistent basis regardless of where they work.

Listed below are a few tips to help remote employees feel valued and engaged even if they are not physically present in team office space Orlando.

  1. Create seamless communication. 

Ensure to invest in all necessary tools to ensure your remote team members feel and stay connected. Skype, Google Hangouts, Hipchat, Slack, GoToMeeting, Chanty and many more are online collaboration tools to help each team member be more productive regardless of where they work.

  1. Promote social interaction.

There would be no problem if your remote employees are working in satellite offices with other colleagues, but for those who are working from home, the lack of interactions can limit perspective and innovation. So, if possible, allow your remote members to work in a virtual office space that offers access to meeting space, lounge, beverage service and other amenities that help foster a clear distinction between home and office.

  1. Promote community involvement.

Look for ways to get your remote employees engaged in local conferences and business events as an ambassador of your company. This will make your team member feel appreciated and at the same time promote your business among the wider community.

  1. Schedule regular visits. 

At least once a year, allow your remote employees to visit head office and to participate in the annual company meetings, team building activities, special events like company anniversary and Christmas party. Make their visit valuable and enjoyable.

Conclusion

These tips will help your employees feel valued and appreciated despite working remotely from across the country. If you are looking for office space in United States for your remote team, 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 keep your remote team engaged and motivated?  Let’s see your comments.  You can also visit us on Twitter and Facebook.

6 Tips to Launch Your Startup Successfully

A recent article, 8 Things Every Startup Entrepreneur Should Do by Nellie Akalp says that having a great idea for a potential business is awesome, but getting off the ground isn’t easy.  The process is stressful and daunting. Nevertheless, listed below are tips to make a successful launch. Discuss your….
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A recent article, 8 Things Every Startup Entrepreneur Should Do by Nellie Akalp says that having a great idea for a potential business is awesome, but getting off the ground isn’t easy.  The process is stressful and daunting. Nevertheless, listed below are tips to make a successful launch.

  1. Discuss your idea with trusted individuals.

Book a meeting room and discuss your business idea with family, friends, or mentors to get advice and feedback before you launch your business. Getting honest feedback is an indispensable step in turning your vision into a reality.

  1. Create a business plan.

A business plan defines your vision, gives you directions and provides detailed strategies to attain your goals.  It also helps you handle setbacks and difficulties along your business journey. Usually a business plan includes your company profile, market analysis, marketing and sales strategies, and financial projections.

  1. Choose your business structure.

Many small businesses start as a sole proprietorship or partnership since it requires less paperwork and fees.  However, starting a C corporation, S corporation or LLC (Limited Liability Company) provides better shield for your personal assets, makes it easier to raise capital, and provides considerable tax benefits.

  1. Secure financing.

Calculate how much money you need to start your business and how you would fund your new business. Usually most startups are financed by personal savings, but if you need additional funds, you can apply for business loans, bank loans, crowdfunding, etc.

  1. Choose your business location.

If you choose to start your business from home, create a designated office space to help you stay focused, but ensure to check local zoning regulations before you launch, otherwise you can rent office space by the hour.

  1. Secure the necessary documents.

Start with securing a tax ID number or Employer Identification Number (EIN). Then get your business licenses and permits and other requirements to start your business. Don’t forget to get trademark protection for your business name and logo.

Conclusion

Following these tips will help you avoid so much stress in launching your small business. If you need ideal workspace solutions for your startup in Lake Mary, YourOffice Lake Mary offers you a wide choice of office and workspace solutions: Lake Mary flexible office space, Lake Mary team office space and Lake Mary 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.

Any other tips to successfully launch a startup?  We’d like to hear your thoughts.  You can also visit us on Facebook and Google Plus.