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  • Renee: CEO Coach & Management Specialist 6:01 pm on August 17, 2009 Permalink | Reply
    Tags: affect, compensation, , employer, federal, information, minimum, , payment, , wages, you   

    Will The Minimum Wage Increase Affect Your Business? 

    There was a big push for an increase in the federal minimum wage and it was officially implemented on July 24,09. Many small businesses now have to face the challenges of dealing with and complying with the federally mandated minimum wage increase.

    For the those that don’t know: the federal minimum wage is the legal lowest amount that an employer can pay an employee. The minimum wage was increased from $5.15 an hour to $7.25 an hour. With the installation of the federal minimum wage that was implemented on July 24,09, how will it affect your buisness? If you are a business that employs many employees do you see this as a big problem?

    It can be somewhat of a boost to the working poor or people who work for minimum wage in addition to other incomes, but it’s not great, considering all of the taxes that will be taken out of an employees paycheck. The increase in the minimum wage will have a big impact on some companies & they will see financial changes in the coming years.

    Many states & companies already pay wages at or above the new minimum wage, so this increase may have little impact on them. Depending on the industry that you’re in, the impact of the minimum wage might not hurt so bad. It may really hit hard in the fast-food industry, retail industries etc…

    If you are like many small companies, then you’d need to plan for and compensate for the growing labor costs. When you take a look at the minimum wage and how it will affect your business, you have to consider your labor costs and redevelop your day-to-day business operations. You have to look at ways to increase efficiency in your workplace and find creative solutions to reduce your overhead.

    Many small companies deal with this by increasing prices for products, services or even firing employees. To help minimize increases in pricing & labor costs, many small companies have chosen a creative solution and that’s to implement onshore outsourcing.

    In using onshore outsourcing, many of them are outsourcing and utilizing Virtual Assistant services. Virtual Assistant services (also known as VA’s), help to lighten your load, reduce labor costs, you’re  able to maintain business as usual more efficiently, more effectively & increase business productivity.

    That’s one of the many ways that companies get ahead of their competition, maintain a successful business. When working with a VA, you reduce your overhead, you maximize your efficiency, your productivity and your bottomline.

    For most small companies there is an upside to the minimum wage increase, and it’s knowing that it can stimulate the economy. Usually when people make more money, sometimes they make lifestyle changes and they buy more which generates more revenue in the economy.

    The increase in the federal minimum wage doesn’t have to be looked at as a negative it can be a positive for your business. As a business owner you need to have a strategic plan of action for times like these.  Don’t wait till the last minute or wait till bad things happen to develop a strategic plan of action for the bad times in business. Plan ahead. With a strategic action plan, you’ll be able to attack problems head on, then there will be less problems for you.

    ~~~~~~~~~~

    Clerical Business Solutions~

    http://WWW.CLERICALSOLUTIONSINC.NET

    http://www.condron.us
     
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  • Renee: CEO Coach & Management Specialist 8:26 pm on August 12, 2009 Permalink | Reply
    Tags: , , , mbo, , thinker, , you   

    MBO: Management By Objectives And You 

    MBO has changed a lot over the yrs and it’s a good approach to management. It may look simple at first, but it requires experience and skill to make it work effectively. When you prepare goals on observable, measurable terms,Clerical Business Solutions~Virtual Assistant & Business Strategy Consulting then the goals become objectives. Then the objectives become the stated measurable targets of how to achieve business aims.

    They help to give the business a clearly defined target. For example, you could say that XYZ corporation wants to achieve 3 million in asian markets by 2015.

    MBO is focused on accomplishment of company objectives, it stresses achieving results with planning as the dominant function; like plan your work & work your plan. It does take patients, organization, work, follow-through & tracking to be successful.

    When implementing mbo, start with yourself.  Have yourself in check before correcting others. Know what to do, how to do it & get it done. Self control is a tool for effectiveness.  Better self management of your time, establish prioritizes by putting first things first, such as the work & decisions that you can handle. Leverage the resources of others by delegating & outsourcing non-core functions to a Virtual Assistant.

    Management by objectives can be utilized in a business to help focus on goal planning, moving an organization forward & improving your business culture. It may not be so outdated as some like to think. Dealing with the complexities of business management is inevitable.

    Strive to do better than your current contribution, be able to adapt to change. build on opportunities to enhance your abilities and performance further.

    There are pros and cons to mbo as well as challenges and benefits.  Among some organizations it’s become a fad; they try it, drop it then move on to the next “big” thing. A performance improvement program can contribute to the overall business performance, which can help with mbo.

    To utilize mbo effectively, managers need to identify and set objectives both for themselves, their units, and their organizations. When writing business objectives; do it the S.M.A.R.T way:

    Specific – state exactly what is to be achieved.

    Measurable – what gets measured, gets done. An objective should be measurable; like being able to track what you’ve done so far to see if you’re moving in the right direction.

    Achievable – the objective should be realistic given the circumstances in which it is set and the resources available to the business.

    Relevant – objectives should be relevant to the people responsible for achieving them

    Time Bound – have realistic time-frames/ deadlines in mind and written.

    When you set a clear objective, you and/ or others are able to focus attention and energy on a concrete aim, anything from a small task to a career ambition. No matter how small or large the objective is, ensure that the decisions you make and the activities you undertake all support the achievement of your chosen goal.

    MBO programs should include commitment and participation in the process at all levels, from top management to the lowest position in the organization.~Clerical Business Solutions

     
  • Renee: CEO Coach & Management Specialist 5:14 pm on June 17, 2009 Permalink | Reply
    Tags: effort, , , , overstressed, , pay for, tasks, , , what, you   

    You Get What You Pay For 

    In any economy people want to get more bang for their buck and finding the right service or products to fulfill those needs can be time consuming & costly. You could end up switching from service to service which will waste your time and energy.                                                            300_56091

    Well cheaper doesn’t always mean better. Many seem to feel that they can get a great service done for cheaper, save money and time but that’s quite the contrary. Usually when you go for cheaper price you get cheaper service in terms of quality and dependability. You want top value and top quality.

    Many businesses have solutions to problems and sometimes when prices are too low they can be too good to be true. When you are looking for a service to fulfill your needs concentrate on value more than pricing. Many times it could be better to pay a service provider or consultant a higher price for a 1 hour session or service and get top value and benefits from that service than to pay a lesser price to someone or a business who will give you less than what you deserve or want. 

    With cheaper services or products you could end up with lack of communication skills, inferior service with little to no benefits for you or your business. Look at it this way; don’t get too caught up in the numbers~price is what you pay value is what you get. Most of us worry about money — how to earn it, how to save it, how to manage it, how to get as much as we can while spending as little as possible.

    Many people want information, a product or service provider who is fueled by their passion, drive and dedication to help you succeed in your business or projects. Sometimes price is a reflection of that. Many may disagree but only time will tell when you invest time and money into a business that you want or need to provide a serivce for you.

    Often, the most straight-forward and simple money-saving tricks work well but, at some point, the “just spend less money” approach isn’t helpful advice or a sound business practice. Yes, sometimes a business needs to look at ways to cut costs, save money & still operate efficiently, but you have to be careful where you decide to cut costs.

    It will likely cost you more money at the end of day when contrasted with true professionals.

    Money is one of the greatest tools in life. It can buy convenience, freedom, fun experiences, memorable events, and all sorts of things that make life more comfortable. But money can also be frittered away, scattered on a pile of small things that have little impact on your life or business or spent on big-ticket items that have small-ticket results.

    Many times many businesses will overhype and under deliver. When deciding on your next service provider, take time out to look at the value that you’d receive for your time and money. If you want value, measurable, sustainable results & solutions for your business, projects, time and money take a look into many of the options that are available to fulfill your needs.

    ~The Author~

    Clerical Business Solutions  ~Business Strategy Consulting Services & Virtual Assistance Services. Providing business consulting & outsourcing services such as administrative support/ business management, project support etc…

    Consulting with you on strategy/ strategic planning, goal setting etc… to start-ups, business owners, managers & professionals who may need some beneficial guidance, business support and/ or too busy to handle their workload themselves, those who may want to offload & outsource or just need beneficial business consulting advice along their business journey. Contact today: http://WWW.CLERICALSOLUTIONSINC.NET   

     

    http://www.condron.us
     
    • Casper Cole 1:23 pm on June 29, 2009 Permalink | Reply

      i feel exactly the same way. if a product or service is available cheap, there always has to be a catch. Especially when choosing any particular service you have to be very careful and take your time and research everything and never dive into anything you would regret.

      Timesvr.com

      • Clerical Business Solutions 2:06 pm on June 29, 2009 Permalink | Reply

        Hi Casper,

        It’s always good for anyone to be mindful of the things that they purchase, especially if they are looking for long term investments in a product or service. Sometimes price is an indicator of that. By just taking a look at what you’d get for your money can help a lot.

        Clerical Business Solutions~
        Business Consulting & Project Management (Virtual Assistant Services), Outsourcing
        http://WWW.CLERICALSOLUTIONSINC.NET

  • Renee: CEO Coach & Management Specialist 3:17 pm on April 23, 2009 Permalink | Reply
    Tags: ?, do, , , , , , , use, , you   

    Do You Use Your Business Resources Wisely? 

    Through out the life of your business do you feel like you make the best use of your business resources? It doesn’t matter if you are in or out of a recession. Since we are in what the financial experts call a recession, I’msmall-questioning-face-small-webview pretty sure that it has taught many of us some hard lessons.

    Learning lessons as far as making the best use of all of our resources that are within our reach. Some people wait until the hard times hit before they really buckle down, save and make the best use of what they have or try to leverage the resources of others to help them.

    If you want your business to last for a long time then you need to have a pre-planned action plan, a strategy for success & longevity. That’s where strategic planning comes into play.

    To develop and create growth, the wisest thing we can do is to utilize the resources we already have & build on them . It will take courage and real commitment, and the right tools. Do you have a strategy in place to help make the best use of your financial resources, human resources, physical resources, intangible resources, outside support etc…

    Learn to prepare ahead of time and if you haven’t now is a good time to start because in or out of a recession you should want to have a smooth running operation. Yes, you will have problems and challenges throughout the life of your business but how will you handle them?

    Learn to think things through by asking yourself:

    • Do you have a plan or strategy in place?
    • What are the most important needs of your organization?
    • Do you have strong support for your efforts, internally or externally?
    • What is the best strategy for using internal & external resources?

    It’s a smart business move to leverage the resources of others outside of your business such as a Virtual Assistant or Business Consultant. These types of resources can help you to run a smoother operation. Virtual Assistant Services can help you and your staff to prevent burnout and get more things accomplished within your business. Maintain your own resilience, take care of yourself & don’t burnout!

    Look at your company’s long-term goals,  annual goals and workforce profile. Do your business operations, work programs or training programs support those goals? Take a look at all the internal resources available, and build a network to help you identify external resources. Remember, don’t try to do everything by yourself.

    Are your workers computer-savvy? Is the workforce technology-driven, performance-driven, or a mix?

    It all comes down to how you think and your actions. You must always have an action plan. Also you can create business action plans by learning from the mistakes that you make. This too can help you to make better use of your business resources.

    Become offensive & optimistic in your thinking:  “How do I use my resources in the best possible way?” Don’t become defensive and pessimistic in your thinking: “How can I save on resources?” You may not see it now but there is a huge difference in those two thought processes.  While thinking about saving on resources is good but don’t make that your only option. Think about saving then utilizing them in the best possible way.

    You open the door of possibilities for your company if you could make the best use of your resources instead of wasting them. Companies across the world are making huge cuts across the board now. Are you one of them?

    It would be refreshing if more companies thought about & engaged in their potential for development instead. Most of us have the potential to get better at what we do, but some of us know that the possibilities depend on the way that we perceive our situation as well as our options.

    So now ask yourself: Do I Use My Business Resources Wisely?

    ~~~~

    Clerical Business Solutions

     
  • Renee: CEO Coach & Management Specialist 4:46 pm on March 31, 2008 Permalink | Reply
    Tags: &, challenge, confess, counseling, deal, face, failures, mistakes, , truth, with, you   

    Face The Challenge: Deal With Mistakes & Failures 

    As long as you are human, mistakes & failures are bound to happen. So you must be able to analyze them, learn a lesson from them and deal with them. No one person is 100% right all of the time, that’s right not a single one and no one will ever be.

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    So, Do You Acknowledge Them, Accept Blame And Keep Moving On ? You can’t keep doing the same old thing or making the same old mistakes over & over again, then expect different & new results.

    ACKNOWLEDGE IT
    The first step to correcting a mistake is to acknowledge it. If a mistake has more than one person at fault, then everyone involved must take time to acknowledge it, no finger pointing, no screaming, no loud angry  communication, accept your part in the blame.

    PROBLEM SOLVE
    Once everyone accepts their blame, then get everyones input on what mistakes have happened without a big up-roar or finger pointing. Each person must now take charge to lead the way to find a solution by putting processes, systems or procedures together to keep it from happening again or lessen the chance of it happening again.

    Everything should be done in a calm tone of voice, in a respectful manner towards each person, With No Sarcasm.” That will give you the ability to deal with the problem if it should arise again.

    WORK TOGETHER FOR THE GREATER GOOD
    Stop finger pointing, meet in a middle ground on the situation, so you can work through this and get past this. Remember Communication Is Always Key. Without communication a problem may not get solved.

    If the people involved in the situation won’t communicate with you or each other, then get someone to help you all communicate. Many times outside help can provide a solution.

    When you are trying to fix mistakes, solve problems & innovating, they all need communication to achieve a positive outcome.  Don’t just sweep problems under the rug.  Talk about them, get them out on the table. If you work in a company or own a business, people want to know that they’re working for a company that does more than just talk. They want to work for a company that achieves results!

     
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