Business Guides

5 Things to Consider When Starting a Family Business

Starting a business is one of the most rewarding things you can ever do. Beyond simply being a solid investment, running a business builds character, boosts confidence, and offers a chance to do a lot of good for the community and the world as a whole. And some see it as a perfect opportunity to build something for their family. Family businesses have been a staple of local communities across the western world for generations. They build lasting relationships and are full of charm and character. For anyone looking to create something that they can run with their family, there are a few things to take into consideration.

 

The Idea

The most important part of any business is the idea. Before you do anything else you need to know what you want your business to actually be. This is also one of the more fun stages of company development. Here you can really stretch your creative muscles as a family and decide what sort of business you all want to be a part of. Some of the more common family businesses include craft stores, restaurants, and cafes or perhaps something more obscure like artisan watchmaking.

 

Start-up Capital

The sad truth of our culture is that everything is run on money. You could have the greatest idea in the world for your business, it won’t mean anything without some serious start-up capital to back it up. There are many ways to go about getting this, be it through a loan from your bank or simply saving up, but it is something you need to consider and look into before you start doing anything. And make sure you are staying smart when it comes to money. Do not borrow beyond your means or go through any illicit channels.

 

Inheritance

This one is something that a lot of people in family businesses seem to overlook. Inheritance plans need to be in place way before you even open to the public. And this is for a number of reasons. The main one being, if you died, it needs to be clear who is going to inherit the company. But there are situations where you could be declared unfit to work or placed in a state of coma in which case the inheritance information would be vital. Places like inheritancelaw are perfect for making sure everything is sorted and above board.

 

Community

The key aspect of a family business is the community it is placed within. If you are at the center of a major city then chances are your small family business is going to fail when it is competing with massive name-brand corporations. Small, family-run companies often tend to do better when placed in smaller town environments. In these settings, it is more common that everyone knows each other. This is going to work to your advantage as people are more likely to spend their money at a shop if they have a good relationship with the owner. This leads neatly into the last point.

 

Relationships

This covers both your relationships with your customers and your family. Depending on who is going to be working at the restaurant, you will want to set up your marketing and décor in accordance. A husband and wife duo will suit a nice, romantic atmosphere better. A father-son team will suit welcoming, vibrant colors. Consult some marketing experts and find out what is going to work best for you.

Keeping on the good side of your customers is always a positive. If you build strong relationships with them you will guarantee they will return but also find they act as free marketing for your venture.

Office Sports: Setting up and Running a Team

Do your employees look like they could do with a bit of a morale boost? Well, look no further as we have the perfect solution. Setting up your own office sports team. It may seem like a strange idea at first, but it actually has a huge number of benefits for everyone involved. It can help boost morale, help your employees, and coworkers bond and have fun all while keeping fit and getting your companies brand out there. So how would you go about setting up and running an office sports team? Here are some tips to help you get started.

Decide On Your Chosen Sport

The first step to creating your own office sports team is deciding on which sport you’re going to pursue. The smartest option is probably to do it democratically, either by putting sports into a hat or by leaving it up to a vote. You’re more likely to get more dedicated team members if it’s a sport most of the office is willing to do. Whether it be soccer, hockey, basketball, or baseball, there is any number of sports to choose from.

Set Up a Team Name

The next step is to decide on a team name. Probably another time to put it to a vote. It can help your employees/co-workers feel more heard and make them more likely to want to play for a team they helped to name. Once you decide, why not check out companies like merchology to get your own personalized team shirts with your team name printed on them. It’ll help you all look the part and feel like a real team. You could even have some fun with nicknames on the back of shirts (just be sure to keep it appropriate).

Sign Up For Charity Events

Many office teams take part in charity tournaments and for good reason. It’s a great way to get some experience playing against other teams and offices whilst also doing your part for good causes. You’ll be sure to find a whole host of tournaments near you.

Organize Practices

While you may not be professionals, it’s still worth taking time out to organize practice sessions. Sites like runningandmiles are designed to put all the best equipment and exercise apps all in one place. With a bit of research, you’ll be able to organize a simple training program for your teammates to help them make the most out of the sport.

Do Your Research

As with any sort of venture, the best thing you can do is do your research. There are plenty of already established office teams out there that you can learn from when creating your own. Make sure to brush up on health and safety and research ways on how to manage the cost of running the team in the most effective way. If you’re well-researched and have learned from some of the best, then there should be nothing stopping you from creating the next best office sports team.

It’s Just a Bit of Fun

While it should go without saying, it’s important to remember that the point of the sports team is for your office to have some fun with each other outside of work. While a bit of healthy competition may be fun, don’t let your need to win and be the best cloud your judgment. Don’t forget that the people in the office have chosen to give up some of their precious time to take part. Make sure they are having fun and don’t feel pressured to be there. Have some leniency when people can’t show up to practice and make sure communication is a priority and you’ll be topping the office team leaderboards in no time!

How the Advent of the Internet has Changes the Business World

Particularly in the last decade the internet has come around as one of the most used developments in computer and mobile technology ever. These days everything runs with some form of internet connection in order to make our lives efficient and easy, the requirement of a solid internet connection has never been greater as the tech giants roll out more and more products. In this internet age, you may be experiencing some great changes in your business, from more and more tech appliances to video call boardroom meetings, you will find that there isn’t much that can escape the need for the internet.

 

A classic business setting used to consist of a group of offices and a handful of computers and phones, nowadays you will find technological feats like virtual meeting spaces, cloud data storage as opposed to a classic filing cabinet and wall to wall internet coverage. Some argue that the old ways are better than these new technological improvements and others greet it with open arms. Below are a few instances that you may notice becoming more advanced in your business.

 

Filing

Your business is likely to house a variety of important documents that need to be stored safely and securely as well as be organized for efficiency in the workplace. You may have noticed a decline in the amount of physical filing that goes on around your offices, instead of many businesses are turning to online data storage which provides an unlimited amount of space in a secure and recoverable cloud. Some prefer to stick with physical documentation because by transferring online you open your business up to the threat of online crime and being hacked and your files being leaked.

Meetings

Gone are the days of traveling long distances in order to meet with a business associate or conduct a meeting with your team, virtual board meetings are commonly used now with services such as Zoom and Skype allowing video calling in groups. Simply arrange the call and instead of having to be physically present people from around the world can chat in one group call. This not only makes meetings much more efficient but widens the range to the number of people you can talk to. Without the need for physical presence you can speak to any overseas contacts you may have with ease.

Computers

Businesses have used computers for a very long time, they provide research and networking solutions and are great tools in any business situation. However the computers that were available ten years ago have drastically changed to what we now have access to. With improved processing speeds and new functions being included in the recent releases, offices are now equipped with high-quality professional-grade devices that can provide a great deal of help in the business environment. Although these technological advances are great, a downside would be that the need for an upgrade is much more frequent.

 

Phones

Like computers, phones are essential in an office situation in order to communicate with staff and business associates. Although many would say that the older models are absolutely fine in terms of functionality many businesses have been upgraded with newer models with some companies going as far as providing employees with their own smartphone. These steps may seem drastic but they do make life easier in the business setting in terms of having a virtual, organized contact book and better connection to make calls overseas. Much like the effect of improving computer systems, phone upgrades broaden the range of the people you are able to contact.

 

Customer Interaction

Your interactions with customers as a business can make or break your rate of success, it has been a business mantra to value customer service and to ensure customers have a positive experience with you and your business. Nowadays as opposed to actual physical interaction you will be communicating with customers over social media or your webpage. It is important to remember that although the platform has changed you must still interact with customers professionally and ensure their needs are met just as well as if you were directly speaking to them.

 

IT Support

With all of the new technology being implemented into your workplace it is likely that you will have some trouble with it at some point or another. Technology is an extremely useful attribute, until it stops working which has meant in many businesses sourcing an IT support service. With so many new kinds of internet technology being used in day to day business life some businesses need managed IT services in order to limit the damage done by technology issues. Although new technology is a blessing, when it goes wrong if your business is too dependant it can have huge consequences, this is why it is important to have a physical contingency if things go south.

 

Advertising

With the huge dependence on the internet and social media that is around in today’s society it makes sense that advertising has shifted to an online platform too. Compared to the more physical advertising formats such as leaflets and billboards to today’s advertising which is conducted on an internet platform. Businesses use the popularity of social media in order to launch huge marketing campaigns that have the ability to reach millions of people around the world thanks to the power of social media.

8 Sporting Firms to Consider Investing In

In a financial landscape that is only starting to recover from the coronavirus pandemic, we are only beginning to see a reinvestment in many stocks that had taken a loss in their value over the pandemic period now; investors are currently studying the market closely to see which stocks are most likely to bounce back first. This passage will explore this question and detail eight of the strongest rebounding sporting stocks to invest in.

 

Nike

Nike is known as the quintessential all-American clothing company, but in recent years it has started to make immense inroads into the Chinese market. With China being the first country to reopen its shopping hubs after the pandemic Nike has been able to build a strong amount of sales in the Asian market. This has led to Nike’s stock reclimbing by 2% every day; invest while you can.

 

Puma

More known for its running shoes nowadays Puma remains a sound investment in any market. Just like Nike Puma stocks are currently climbing at 2% every day; and with the Puma sponsorship being all over the re-opened German football first division Puma is a brand that will receive greater exposure over the coming months. Puma has been known to be kind to their investors gifting them with new shoes and other forms of new Puma produce; if you are looking for socks to match your new Puma’s I would highly recommend giving tiux a visit; offering comfortable socks for athletes.

 

Manchester United

What this latent corona period has seen is the return of sports in some form, and soccer has been no different. First founded in 1878 English soccer club Manchester United are now slated for a return by the end of June, which has led to a greater interest in the club as the market can testify. Not exploding like other sporting stocks on this passage Manchester United will be a real slow builder and is a brilliant inclusion for any investment portfolio.

 

Adidas

Adidas still remains the premier European sporting brand; and the corona pandemic has done nothing to change this fact, which the stock market shows. The German sportswear company has been reclaiming its stock at 3% every day. Remaining at the pricier end of the stock market with one share currently priced around the 230 Euro mark, but do not feel priced out by this fact as this price is always climbing.

 

New York Knicks

Bringing this passage back to the states you should give the New York Knicks a thought when investing. The New York Knicks have taken a beating in the stock market with basketball one of the sports that have been affected the most. Do not be in any doubt though when the NBA does return the stock is bound to rally, invest while you still can.

 

Comcast

Now some readers may be slightly confused by the inclusion of Comcast in a sports investment passage, but Comcast is actually the owners of Sky Sports the largest European sporting broadcaster. With stocks currently climbing by 2.5% every day it is clear that investors see potential. With prices sitting around 40 dollars a share this is a low risk and high reward stock.

 

Disney

In a similar vein to Comcast some readers may be surprised by the inclusion of Disney, but they are actually the owners of North American sporting giants ESPN. Now Disney’s performance in the stock market cannot be placed on ESPN alone, as Disney does have their fingers in many pies; but the figures still speak for themselves. Share prices are currently climbing by 3.5% every day; with a share price of around 120 dollars. Invest while you still can this one is a real climber.

 

Atlanta Braves

Finally, we will explore the Americas game of Baseball with the Atlanta Braves. The Braves stock is currently sitting at 17 dollars under its usual market price, but it is rallying. Investment in this stock is a real no brainer and I would invest heavily while this option is still viable.

Why You Must Stay Positive to Succeed in Business

The world of Business is full of trials and tribulations. There are constant obstacles to overcome. Numerous challenges to rise to. And plenty of competition. Having a wealth of business knowledge is important, but it only goes so far. With real estate, location is everything. With business? It’s all about attitude. You need to be able to foster relationships, maintain bonds and keep your mind focused and on the ball. Below are a few reasons why this is needed and ways you can better tune your attitude towards success.

Law of Attraction

This is a very simple philosophy that can change the way you live and go about your business completely. It states that if you put out a positive or negative attitude to the world, you will receive back what you put out. This translates to the world of business in a few ways. Principally, if you approach your ventures with a mindset of success, then you will find success comes to you easier. If you approach your colleagues with positivity and commitment, they will respond to you in kind. And in the world of business, both these things are vital. If you visit jewelshealinggarden, you will be able to find out more about the law of attraction.

Steps to Success

Business is never a straight upwards path. There will be setbacks and failures. There are times you won’t meet your goals and you will want to give up. It is at times like these that a positive attitude is vital. When you make your goals, it is important to approach them with the mindset of success. Visualise your self-completing them. But at the same time, know your limits. Remember you are only human, and mistakes happen. But view these mistakes with positivity. They are a learning experience. Utilise them.