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Winners Of Britain’s Healthiest Workplace Revealed: Why Is A Healthy Workplace Necessary?

By
Sarah Cantley
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Winners Of Britain's Healthiest Workplace Reveale

Winners Of Britain’s Healthiest Workplace Revealed: Why Is A Healthy Workplace Necessary?

Britain’s healthiest workplace was revealed last November. Run by Vitality – in partnership with the University of Cambridge and the Financial Times – the healthiest workplace was awarded to Nomura as a large organisation – 1000 or more staff – Novo Nordisk as a medium-sized organisation – between 250 and 999 staff – and OpenCredo as a small organisation – roughly 20 to 249 staff.

Data collection began back in January 2022, with responses drawn from more than 8,500 employees and 65 organisations. The data is gathered through questions and answers about leadership, culture, provisions of the workplace, as well as wellness interventions, facilities and services. Employees also submitted answers on their own productivity and job satisfaction, meaning that the organisations with the prize can claim both a physically and emotionally healthy workplace.

The Importance Of A Healthy Workplace

It is crucial that every workplace maintains a healthy environment, not only to aid in employee mental wellbeing but to ensure upkeep of productivity that can help that company reach new heights. In this instance, the prize is not a byproduct of a good office environment, but rather a catalyst of Nomura, OpenCredo and Novo Nordisk’s relative success.

The Importance Of A Healthy Workplace

The survey is free to take part in, and there are plenty of reasons to do so. For starters, if you are running a B2B company, then a top spot on the leaderboard can be beneficial for your b2b communication channels. Every company that is doing business with you will want to know that you can be trusted, with a transparent and productive working environment. A top spot in the leaderboard demonstrates both your strong working environment and your reliability as a business partner.

The same applies for B2C organisations. When it comes to drawing in new customers, it is immediately noticeable if a workplace is healthy or unhealthy, not least due to the employees they are communicating with. The Vitality survey can give you a good insight into your business’ lifestyle,  as well as strong recommendations on how to boost the physical and mental wellbeing of the team.

Investing In Wellbeing

Although there are employee engagement programs which can ensure productivity – as well as overall positive mentality in the workplace – you will not claim the ultimate benefits if you do not know which areas of wellbeing you should be investing in. It is not a case of trying to solve the problems by casting a wide net. Each area should be pinpointed and recognised, with reliable data that can help in the concoction of the remedy.

Succeeding in business is difficult, but it isn’t out of your control. Maintaining a healthy workplace can help you become desirable with potential clients, whilst also improving the emotional state of the employees that you invest in. It is rare that successful workplaces have an unhealthy environment. Healthy workplaces breed results, and this is one of the main reasons why it should be the main goal when starting out – or, indeed, as your company develops – and you should ensure to give the task the attention that it deserves.

Top 3 Businesses for Investing in Austria

By
Sarah Cantley
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0
Top 3 Businesses for Investing in Austria

The Most Profitable Areas of Activity With Reliable Payback in Austria

Investors are the type of people who are always in search of more profitable areas of activity. Austria is a country with solid business opportunities. It’s easy to prove by taking a brief look at this region’s Sovereign Credit Rating. It’s the assessment of the creditworthiness of a country, which directly indicates the risk, including political, associated with investing in local businesses.

Depending on the agency that sets the score, the rating varies between AA+ and AAA. That’s a nearly excellent result, showing the minor risks of not having the debts paid back off. It’s evident that Austria is a solid country to invest in. So, let’s check the best Austrian economy sectors to pay close attention to as an investor.

Activity Related to the Real Estate Market

Real Estate, or the Housing Market, is the niche where construction, purchasing, selling, and renting take place. This business sphere is booming in the present day. Its annual growth rate equals 1.74%, and the revenue from the industry is projected to exceed $26 billion in 2022 already.

Activity Related to the Real Estate Market

Here are some pros of investing in Austria’s real estate market:

  • Passive income. Real estate not only grows in its price over time but generates stable, well-predictable income.
  • Tax advantages. Property income is taxed at a lower rate compared to earned income. Besides, owning property brings other financial benefits like deductions.
  • Protection from inflation. Real estate pricing increases over time at a speed that outperforms inflation.
  • Easy to manage. It’s often that property doesn’t require close, day-to-day attention to be profitable.
  • Portfolio diversification. Real property frequently has a negative correlation with other asset classes, which greatly reduces portfolio risks.

It’s also important to be aware of the limitations of real estate market investments:

  • Long-term investment. Typically, real estate is an investment that is held for 5-10 years on average. For some types of people, it’s a big con.
  • Require high capital investments. Mortgage expenditures often exceed rental costs, so purchasing real property is a costly activity. Not to mention that often, purchasing a building comes with renovation expenses.
  • Maintenance costs. As a property owner, you should allocate some funds to conduct scheduled renovations and building upgrades. Thus, your property stays well profitable.
  • Not a liquid asset. Some types of property, especially expensive ones, are difficult to sell at reasonable costs within a short period.

The Field of Tourism

Real estate can be categorized into residential, commercial, industrial, land, and special. Short-term vacation properties, such as tourist places, are more suitable for seasonal investing. Other commercial and residential real properties are a perfect fit for long-term investing.

The Field of Tourism

Austria, with all its influential history, is a highly desirable tourist destination. Doesn’t come as a surprise that its contribution to the country’s GDP amounts to nearly $29 billion as of 2021. It’s a 30% decline compared to 2019, which is associated with the COVID-19 pandemic. Yet, experts tend to believe that Austria will reverse the tendency by 2023 and have its tourism potential regained over several years.

What adds to the high investment potential of Austria’s tourism field is the elevated rate of development within this industry. It’s projected to increase the flow of tourists shortly, impacting the ability to develop business tourism direction. Respectively, the ones who will be the first to invest in tourism in Austria will reap most of the benefits from the enhanced tourist flow.

Favorable ground for investments here is prepared by such businesses as hotel and resort centers and travel agencies. It can also be profitable to invest in accommodation units, leisure activities, business events, parking areas, and more.

Construction Market

The construction market is the branch of manufacturing and trade that focus on building, repairing, renovating, and maintaining property and infrastructures. There are several types of entities that operate within this industry. These include sole traders and organizations that construct buildings and lead engineering projects, which include utility systems and highways.

The construction market mostly consists of revenues earned by the mentioned entities. So, the solid investment opportunity here presents buying stocks of construction companies or direct sponsoring of their construction projects. You may also consider diversifying your portfolio with exchange-traded funds and mutual funds, which allow for minimizing risks of the construction market downtown. It may be also the right call to invest in the suppliers of raw materials for construction.

Conclusion

Investing in Austria as a region is the right investment decision. Its high Sovereign Credit Rating ensures low investment risks. The real estate niche here, as nearly anywhere, is on the rise. There are options for short-term, seasonal investment, as well as solid long-term options. So, you may buy real estate in Austria without much concern.

Tourism should experience a rapid rise over the next several years. Investing in this industry may bring good returns as well. The construction niche, which accompanies the other two, should also experience a positive tendency. So, investment in reliable construction companies may also be the right decision.

Different Reasons Why You Might Want To Sell Your Business

By
Sarah Cantley
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0
Different Reasons Why You Might Want To Sell Your Business

There are several different reasons why you might want to sell your business. Maybe you’re ready to retire and want to cash in on your years of hard work. Or perhaps you’ve lost interest in the business and would rather focus on other things. Whatever the reason, selling a business can be a complicated process. In this blog post, we will discuss some of the most common reasons for selling a business and the steps involved in the sale process.

8 Reasons Why You Might Want To Sell Your Business

Even though your business might be the most essential thing in your life, there might come a day when you want to sell it. Here are eight reasons why you might want to:

You’re No Longer Passionate About It

If you’ve lost interest in the business, it’s probably time to move on. Once the passion is gone, it’s hard to get it back. Losing passion for your business will push you to sell it so you can move on to something that excites you again.

You're No Longer Passionate About It

You Want To Retire

If you’re getting closer to retirement age, selling your business might be the best way to secure a comfortable retirement. You can use the money from the sale to live comfortably and enjoy your golden years.

It’s Not Making Enough Money

Another common reason for selling a business is that it’s simply not making enough money. If your business struggles to stay afloat, it might be time to sell before it goes under.

You Want To Pursue Other Interests

Selling your business will allow you to pursue other interests. Maybe you’ve always wanted to start a new business in a different industry. Or maybe you’re just ready for a change. Either way, selling your current business will allow you to start something new.

You’re Ready For A New Challenge

If you feel like you’ve hit a wall with your business, selling it might be the best way to find a new challenge. Once you sell your business, you’ll be free to pursue whatever interests you.

You Want To Cash Out

Sometimes, people sell their businesses simply because they want to cash out. If you’ve been working hard for years and you’re ready to retire, marketing your business will give you the money you need to live comfortably.

You’re Not Seeing Any Growth

If your business has plateaued and you’re not seeing any growth, it might be time to sell. A business that’s not growing is a business that’s dying. This might push you to sell so you can invest your time and energy into something that’s growing.

It’s Going Under

If your business is in danger of going under, selling it might be the best way to salvage what you can. This way, you can at least get some of your investment back instead of losing everything.

These are just some of the reasons why you might want to sell your business. If you’re thinking about selling, it’s essential to weigh your options to make the best decision for your future.

What Are the Steps You Need To Take To Sell Your Business

What Are the Steps You Need To Take To Sell Your Business?

Selling a business is not something you can do overnight and on a whim. It’s a big decision that takes careful consideration, preparation, and often professional help. For example, Lloyds Business Brokers can help you through the process of selling your business from start to finish. Here are some key steps you need to take to sell your business:

Understand Why You’re Selling

The first step is understanding why you want or need to sell your business. This could be for personal reasons, such as retirement, or it could be motivated by outside factors, such as a slow market or health concerns. Once you know your reasoning for selling, you can start to put together a plan.

Get Your Financials in Order

No matter the reason for selling, you’ll need to get your financials in order before proceeding. This means organizing and reviewing all of your financial records, including tax returns, income statements, balance sheets, and more. You should also have a good understanding of your business’s value. A professional appraiser can help with this step.

Hire a Business Broker

If you’re not experienced in selling businesses, hiring a business broker is a good idea. A business broker will help you determine the value of your business, find buyers, and negotiate the sale.

Prepare for the Sale

Once you have a buyer lined up, it’s time to start preparing for the sale. This includes things like transferring licenses and permits, updating your insurance policies, and creating an employee transition plan. You’ll also need to draft legal documents related to the sale, such as a purchase agreement.

Close the Sale

The final step is to close the sale and transfer ownership of the business. This process can vary depending on the type of business you’re selling and the state in which it’s located. Once everything is finalized, you’ll be able to walk away from your business knowing it’s in good hands.

Bottom Line

Selling your business is a big decision that should not be taken lightly. There are many different factors to consider before deciding to sell, and each situation is unique. Ultimately, you must do what is best for you and your business. If selling your business is the right decision for you, then make sure you do your research and work with a reputable broker to get the best possible outcome.

 

Can’t Afford A Warehouse? Try Self-Storage

By
Sarah Cantley
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0
How to save money on storage solutions for businesses

Storage is something that every business will have to think about, but that doesn’t mean that finding the right storage partner and location is going to be an easy thing.

Whether you’re a small start-up or an experienced business with sights set on expansion, having a secure site to store all of your belongings is crucial.

But, storage doesn’t come without a price and for some options, you can be looking at dropping a considerable amount of cash.

In this article, we’ll be discussing some of the costs associated with storage solutions and how you can save some money by finding more affordable storage space in London.

Storage options for businesses in London

If you live or work in London, you are probably already very familiar with how expensive space can be. With rent prices growing every single year and the demand for office space and storage growing at an equally high rate, many companies can end up spending a serious amount of money on keeping their belongings secure.

Can't Afford A Warehouse

One of the main options that a lot of businesses will explore first is buying warehouse space near them. This involves paying rent on the warehouse and, in return, getting a very large amount of space that you can do with what you like.

Although this is a popular option, it’s also very expensive. Warehouse space commands very high rental prices, mainly because they know it’s being brought by businesses.

Another option is to keep all of your belongings in your office. If you have enough space, this could be a good option as it won’t involve you spending any additional money.

However, if you don’t have a large office, it can quickly become cluttered and messy when you try to store everything in one place. Not only can this cause a mess, but can really impact the productivity of your team.

How to save money on storage solutions for businesses

If you don’t want to store everything in your office, and you also don’t want to spend all of your profits renting out new warehouse space, there is another option.

Many businesses are now turning to the flexibility of self-storage solutions to keep their belongings safe and secure.

There is a lot of flexible storage space in London that is designed to be used by large and small companies to keep hold of their belongings. Whether it’s a space to hold spare computer equipment or the accessories you need for your next event, you can store whatever you need through self-storage.

With self-storage, there are two main options that you can use: storage units and storage by the box.

Storage units

If you have a large number of things you want to store, or you just want to keep all of your belongings in one place, getting a storage unit may be the best option for you.

Store all of your big and small items in one place and just pay a weekly fee to your storage provider, and you’ll never have to worry about your belongings taking up too much space in your office.

Storage by the box

If you only have a few boxes of things that you want to store, there isn’t much point in leasing out an entire storage unit.

The best thing about self-storage is that is completely flexible to you and your business needs so, if you only have a few boxes, that’s all you will be expected to pay for.

When you choose to pay per box, you can end up paying as little as £0.75 a week and we’ll keep your boxes in a secure location until you need them next.

This does mean that your items will be stored with other people’s belongings, which may be an important thing to consider as other people will have access to the storage room where your boxes will be kept.

Finding the best storage option for your business

Every business has completely different needs and requirements, which means there can never be one solution that works for everyone.

To decide which storage option will be best for your needs, it’s important to consider how many items you need to store, how much space you need, and how much you’re willing to pay.

For example, if you only have a few boxes now, but are expecting to get a big delivery of event equipment in the next few months that you don’t want to store at the office, you may want to start paying by the box, then upgrading to storage units further on down the line.

 

What does reconciliation mean, and why is it essential to the AP process?

By
Sarah Cantley
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What does reconciliation mean, and why is it essential to the AP process

If you are a beginner to accounting, or looking to improve your financial processes, here is everything you need to know about what reconciliation is, and why it is an important aspect of the AP process.

What is reconciliation?

Reconciliation is an essential process which ensures that any money that is either spent or received reconciles with the actual transactions in the business bank account.

In other words, the numbers in invoices and statements need to match up with the money that leaves or enters the business.

Reconciliation is typically carried out at year end – the end of the fiscal year – but can also be undertaken monthly or quarterly, depending on the business.

If everything matches up, then everything has run smoothly, but what happens if it doesn’t match? Reconciliation can provide insights into potential problems, errors, and even potential fraudulent activity.

As such, undertaking reconciliation more frequently can ensure that you catch any issues early so that they can be addressed and rectified before annual accounts and tax returns are due to be submitted.

The difference between accounts payable and accounts receivable

Reconciliation should be carried out both on accounts payable (AP) and accounts receivable (AR). Before we discuss why reconciliation is essential to the AP process, let us first understand the difference between AP and AR processes.

The difference between accounts payable and accounts receivable

AP stands for accounts payable, which refers to the money that is leaving the business’ account. On the other hand, AR is accounts receivable, which is the money coming into the business’ account.  Put simply, AP is money paid, and AR is money received.

With this in mind, for AR reconciliation, you’ll want to ensure that your clients have paid you the correct amount, comparing the invoices you have sent to clients with the money that is being received in your account.

Reconciling AP, however, involves ensuring that you have paid your suppliers the correct amount. This is known as supplier statement reconciliation, as you will match supplier invoices against your transactions. So, why is supplier statement reconciliation so essential to the AP process?

Benefits of AP reconciliation

  • Check for human error

Making mistakes is completely normal; everyone makes mistakes. However, mistakes in accounting can be costly. AP reconciliation is an additional layer of security against mistakes – it gives you a chance to double or triple check that everything is accurate. If the process flags up an error, you then have the chance to correct it.

Benefits of AP reconciliation

  • Reduce impact of fraud

In some cases, errors in payments can be indicative of fraud – especially when you find that there is significantly more money leaving the business than there should be. Due to this, implementing regular AP reconciliation and audits can help to prevent fraud in your business.

  • Catch disparities early

The earlier you catch any discrepancies, the easier it will be to identify and fix the issue. Thus, the more regularly you undertake AP reconciliation, the more likely you will be to catch things early before they become a more serious issue.

  • Minimise losses

In the long run, due to the few reasons listed above, AP reconciliation can help to minimise potential losses in your business.

Overall, there are a plethora of reasons why AP reconciliation is essential. With these things in mind, you can look towards streamlining and strengthening your AP processes over time.

What to look for in a reputable Raspberry Pi stockist

By
Sarah Cantley
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0
Raspberry Pi Approved Reseller status

If you have been looking for somewhere to buy a Raspberry Pi and have noticed that this programmable microcomputer is listed as out of stock everywhere you go, rest assured that you will be far from the only person in this position.

The ongoing lack of available Pi units is basically down to the global semiconductor shortage, which was itself sparked largely by a pandemic-era increase in demand for consumer electronics. To better your chances of obtaining a Pi, look for retail outlets that have the following…

Raspberry Pi Approved Reseller status

Eben Upton – who co-founded the Raspberry Pi Foundation, the organisation ultimately responsible for supplying Pi units to retailers – has recommended making Pi purchases from Approved Resellers.

In a recent TechCrunch interview, Upton explained: “We’re not supplying non-approved resellers.” So, when you land on the website of a Raspberry Pi online store, search for a ‘Raspberry Pi Approved Seller’ badge.

Speedy shipping

Consider the example of The Pi Hut’s Maker Store, where you can see the badge just by scrolling down to the website’s footer.

Product listings for various Raspberry Pi units

Many different versions of the Pi remain ostensibly available online – and which Pi model you go for would usually depend very much on what kind of project you intend to use it for.

However, if you can afford to be at least a little flexible with your choice of Pi, you might stand a better chance of obtaining one. ZDNet has specified the main differences between the Raspberry Pi 4, the Raspberry Pi 400, the Raspberry Pi Pico, and the Raspberry Pi Zero 2 W.

Speedy shipping

Of course, for as long as any particular store you would like to buy a Pi from doesn’t have one in stock, the staff there can’t do anything to ensure a Pi comes your way quickly. It is a small comfort, then, that Upon has expressed his belief in the Pi inventory issues starting to ease in 2023.

Since you could find yourself needing to wait at least a good few month yet for a Pi, you would naturally appreciate that unit reaching your hands as soon as practically possible once it has indeed become available for you.

For this reason, if you will be buying the Pi online rather than in person, it would be advisable for you to turn to an online store that always endeavours to ship products on the same day they are ordered – on the condition that the order is placed before a prespecified time that day, of course.

What to look for in a reputable Raspberry Pi stockist

Well-received customer service

How can you get an insight into what people think about a Raspberry Pi store’s customer service? Obviously, you could consult online reviews if any have been posted about that specific store. If they haven’t, this could evidence a relatively new company lacking a track record.

In contrast, The Pi Hut has attracted a high number of five-star reviews on the REVIEWS.io website. This kind of social proof is a reliable indicator of a reputable company.

How can you use advertising to enhance your company’s eco-friendly credentials?

By
Sarah Cantley
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0
How can you use advertising to enhance your company’s eco-friendly credentials

Jude Blankfield, Chief of Staff and Head of Marketing at the Australian fintech firm Slyp, has observed in words quoted by Dynamic Business: “Consumer consciousness around the future of the planet is rising.”

She added that, according to a recent report from her company, “nearly nine-in-ten consumers now take into consideration the social and environmental efforts of a brand when making purchasing decisions.”

This puts the onus on your company striving to minimise its carbon footprint — if, of course, it is not already doing so — as well as promoting its green efforts. What part can your advertising activities play in the latter?

Become certified to an environmental standard 

Keep transparency at the forefront 

In other words, be open and honest about what your business is doing in its green drive. If your company has set specific eco-friendly goals, you should communicate what they are and how far your business has progressed towards satisfying them.

Blankfield notes: “Some companies already doing this well include Nike, Officeworks, and Ampol, whose continuous disclosure of sustainability progress — be that reducing water use, making sustainable products more available, or reducing emissions — drives credibility.”

Rein in your use of print marketing materials 

Blankfield points out “retailers are rolling out various initiatives to minimise environmental impact, including the removal of paper receipts.”

Of course, a receipt can itself act as a marketing tool, with the company’s logo and branding colours on display. However, switching to digital receipts is not the only example of how companies can omit printed materials from their promotional strategy.

You could also — as far as practically possible — withdraw from using paper-based leaflets, brochures, and flyers, and opt to hire digital billboards from a company like Clear Channel, which specialises in offering out-of-home (OOH) advertising space for brands to temporarily use.

Become certified to an environmental standard 

Any green certification you do pick up can be highlighted on your publicity materials, helping you to further increase your company’s appeal to eco-conscious customers.

Bruce Mcfarlane, interim CEO at Energy Action, has told Dynamic Business: “We recently became a 100% carbon neutral company, meeting the requirements of the Climate Active Carbon Neutral Standard for our business operations in Australia.”

Keep transparency at the forefront 

He added: “Certifications are a great way of marketing achievements, and we recommend using government-backed certifications, such as the Climate Active programme, which backs up an organisation’s credibility.”

For UK businesses, nibusinessinfo.co.uk recommends becoming “certified to an environmental standard such as ISO 14001”, adding: “You may be able to use the logo and brands of standards to help promote your achievements.”

Run advertising campaigns jointly with green organisations  

There might be certain environmental issues which other organisations could assist you in tackling. Furthermore, if this is indeed the case, you might be able to run advertising campaigns in collaboration with these bodies.

For example, if you sell electronics, you could encourage shoppers to drop off used devices at a physical shop you run. Any person who does hand over old hardware in this way could be given a gift card, while another organisation could recycle the hardware itself.

How will the World Cup affect advertisers’ run-up to Christmas?

By
Sarah Cantley
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0
The festive football season What it means for advertising

‘Tis the season, the season to watch football? While mid-November to December would usually be the peak build-up to Christmas, this year, it just so happens to be the timeframe for this year’s controversial FIFA World Cup.

As if it wasn’t already enough for brands to create and produce their Christmas advertising in time for November, they’ve also had to sort out their World Cup marketing. After all, it’s a highly anticipated occasion for people worldwide and a chance for brands to profit from promotions.

So, with the World Cup starting amid the build-up to Christmas, the question remains: how will the World Cup affect advertisers’ run-up to Christmas?

The festive football season: What it means for advertising

This year’s FIFA World Cup will be held in the winter for the first time in the 92-year history of the world-famous tournament. FIFA’s governing board decided to host the event in winter due to concerns about the heat in the host country Qatar. Running from November 20 to December 18, the tournament clashes with the traditional run-up to Christmas.

For the first time ever, we’ll be dreaming of – and living through – a World Cup Christmas. Christmas time is traditionally the most crucial advertising period of the year, so the World Cup could likely throw a spanner in its works. However, it could result in a profitable period for brands and advertisers, at a time when the recession is hitting hard. For better or worse, the World Cup will affect advertisers’ run-up to Christmas – whether they choose to specialise in online advertising or TV and linear addressable advertising.

How will the World Cup affect advertisers' run-up to Christmas

World Cup overlaps Black Friday

Friday 25th November is Black Friday, the biggest shopping day of the year, and it’s also the day that England takes on the USA in the group stages.

From one angle, it might be a huge distraction for lots of customers, with the potential that people’s focus will be on football rather than the Black Friday sales. However, brands could capitalise on the massive interest surrounding the World Cup and use it as an opportunity to target an active audience of football fans who could be captivated by football and World Cup-themed promotions.

Two campaigns: spend big on advertising?

The widespread popularity surrounding both the World Cup and Christmas could see multiple brands running two separate marketing campaigns at the same time, which, in turn, could be very costly. The recession has already affected advertising spending for many companies, so the World Cup could certainly have an impact on numerous brands.

World Cup overlaps Black Friday

Celebration leads to spending

Customers are planning to reduce their Christmas spending this year as the worsening cost-of-living crisis continues to deepen over the winter. However, Christmas is always a time to be merry and care less about spending money, and if England happens to replicate their incredible form of recent tournaments, celebrations could lead to more spending from England fans. If England wins their first major trophy in 56 years, advertisers will need to go big or go home with their advertising up until Christmas.

When can social listening revolutionise your business? 

By
Sarah Cantley
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0
When can social listening revolutionise your business

Here’s an interesting question: is your business genuinely listening to its customers? Your initial instinct might be to immediately answer in the affirmative — but listening is something that we can often be wrongly convinced we are doing.

In practice, when someone is letting us know their thoughts, we can be so preoccupied with planning our own response that we lose sight of much of what is being told to us.

This could help to explain why, in one UK study mentioned by Digital Doughnut, 68% of customers were found to have had adverse phone experiences with leading financial services brands. Thankfully, social listening could help you to improve how you connect with your customers.

What is social listening?

That is an understandable question to ask, and CustomerThink has the following answer: “In the digital realm, this refers to analysing mentions and trends around your brand on social networking sites.”

What is social listening

CustomerThink elaborates that social listening “tells you what the discussions around your brand are, along with how and where they’re happening”, and can be used to “gauge the social sentiment around your brand.”

If social listening still sounds like hard work to you, rest assured that, by setting up what is known as a social listening tool, you can give yourself the means of speedily amassing relevant data from multiple social media sites.

Once you have established a better insight into what people are saying about your brand and its industry, you can use this information to inform your future corporate direction — such as your decisions over what products and services you will develop next.

What makes social listening especially effective?

Of course, there are many different ways you can reach out to members of your company’s target audience. You could, for example, arrange a few interviews with prospects. Just half an hour on the phone in each instance can suffice for garnering a wide range of eye-opening insights.

However, even if you let these people know in advance that you are contacting them specifically in an attempt to find out as much as possible about how your company could better serve them, you could find that analogue methods of ‘reaching out’ have disconcerting limits.

While businesses have tended to rely on surveys, focus groups, and research reports for assessing customers’ opinions about specific products or services, MIT Sloan Management Review warns that “these traditional approaches have several shortcomings.”

The site specifies these examples: “Sample sizes are limited and subject to bias. Studies take time to organise, and results quickly become dated. Moreover, what people say often differs from what they do, like complaining about discount airlines but using them all the same.”

What makes social listening especially effective

Conversely, through employing social listening, you can not only gain insights of greater accuracy but also act on research findings more quickly — all without incurring the comparatively high expense that can often come from pursuing traditional research methods.

MIT Sloan Management Review enthuses that the practice of social listening is “already overturning how consumer product companies develop, market, and package their products”.

 

6 top tips for ensuring your business proposal looks and sounds professional

By
Sarah Cantley
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0
Bind your document properly

A business proposal should achieve one thing above all else: the interest of potential clients who would invest in your products or services. Prospective investors are looking for an attractive business proposal that would lead to a fruitful business contract, and if your proposal document is rushed or poorly outlined, you may lose this profitable opportunity. With this in mind, we have compiled 6 top tips for ensuring your business proposal looks and sounds professional – following our format, you’ll never miss out on a business partnership again.

  1. Bind your document properly

Before writing even begins, you want to have a clear idea of the way your document will be presented. A document that isn’t bound together can appear thoughtless and unprofessional. Binding machines by Duplo can ensure your business proposal is threaded together seamlessly, therefore more likely to be considered by potential investors!

Avoid academic wordiness

  1. Make your proposal relevant

When writing your proposal, make sure it’s relevant to your intended audience. Professional-grade writing targets your prospective business partner directly, with a demonstrated understanding of their needs, wants and expectations. Display how you can meet these needs, as the missing puzzle piece they sorely require.

  1. Avoid academic wordiness

Sounding ‘fancy’ doesn’t always equate to sounding professional! Long, academic words can seem out of place and actually discourage a potential investor from reading your proposal at all. You don’t want to come across as hard to understand, so when appropriate, use ‘everyday’ words and vocabulary instead.

  1. Be positive

When someone combs through your business proposal, what will immediately become apparent is whether your language is positive or negative. Positive words carry much more weight with a potential investor, who is looking to read about the good parts of your business! Instead of referring to something as ‘not impossible,’ make it ‘possible.’ Essentially, write about the benefits you bring to the table as a company, not the drawbacks.

  1. Provide several written copies of your proposal

Once you’ve bound your proposal document with a professional binding machine, make sure you repeat this process a few times! Providing several written copies of your proposal to one or more investors suggests you’re prepared, reliable and focused on putting your best foot forward when presenting your company to others.

Summarise your business proposal in a strong presentation

  1. Summarise your business proposal in a strong presentation

A big part of inviting others to read your business proposal in full, is demonstrating how good it is through a strong presentation. A business proposal presentation should go hand-in-hand with your actual document, easily summarised in engaging and interactive slides. A well-delivered presentation heightens the value and professionalism of the written document itself! In essence, you’re putting a human face and effort behind the writing you’ve just delivered. Prospective clients and investors love this, and are more likely to choose whatever solution to their problems you’re offering.

At Duplo International, we know how to make business documents appear the best they can be. We prioritise automation and flexibility in our products, like our binding machine, so that our clients can reap the rewards of high standard document production and finish.

 

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