Small Business Tips for the New Year

Global Resources helps put small and medium – size businesses on the path to success.  As we enter 2017, we know many business owners around the country are looking to improve upon their business practices.  Below are simple tips that can be incorporated into your routine to help reach your goals:

1. Set Business Resolutions - New Year’s resolutions are not all about losing weight. It is beneficial to lay out what you want for your business in the coming 12 months. Be specific, so you can actually measure results and see whether you accomplished them by year’s end.
2. Build a Promotions Calendar - Sit down with a calendar and start looking at all the holidays or events you want to build promotions around. This will give you ample time to plan your social media updates, blog posts, advertising campaigns, etc.
3. Invest in Technology - If you’ve been putting off that computer or software purchase, now’s the time to go ahead with it. You’ll be more efficient, if you have a computer that doesn’t take an hour to load. 
4. Create a Conference Plan - Attending conferences and industry trade shows can be so beneficial for you as a business owner. Not only can you meet others in your field (or potential customers) but you also learn from leading experts. 
5. Reevaluate Your Online Brand - This is a great time to tweak your online strategy so that you identify the tools that helped your business grow, and cut back on those that don’t.
6. Refresh Your Employees’ Skills – The New Year is a great time to offer supplementary training to refresh employee’s skills or help them learn new ones. 
7. Further Your Knowledge - Your employees aren’t the only ones who could learn more. Read industry blogs, books, magazines, and anything else you can get your hands on to be on top of the trends in your industry.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Business Loyalty Programs

Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America. We help business owners access the information that is often necessary for growth.

Many businesses have been growing by creating successful loyalty programs for customers.  Here are tips, along with examples of how big-name companies have implemented these tactics: 

1. Integrate loyalty into the full experience:  Starbucks, the brand that created loyalty by differentiating the ordinary experience of drinking coffee, has also managed to create a strongly differentiated loyalty program. To do this, the company integrated payments and mobile technology with the Starbucks shop experience to make the transaction more enjoyable. 
2. Use the data: The Target REDcard combines loyalty and a valuable discount program – 5 percent at the point of sale. They have moved past the flat “discount-only” model by building out industry- leading data capabilities, using the data to target highest-value consumers (e.g., future moms). 
3. Solve customer and industry pain points: Amazon’s largest success in loyalty is built around solving one of online shoppers’ primary pain points: delivery. For $79 a year, members of the online retailer’s “Prime” program get free two-day shipping, plus free digital content. Prime not only integrates tightly with Amazon’s customer and convenience-focused brand, it also creates a loyalty program for suppliers, who rely on Fulfillment By Amazon for access to Prime customers. While Prime’s stand-alone profitability is a closely guarded secret, it is estimated that members spend over four times more with Amazon than non-members. 
4. Maximize difference between perceived value and real cost: Like most hotel loyalty programs, the major focus of the Starwood Preferred Guest (SPG) program is to attract high-value travelers by offering rewards for personal leisure travel. Redemptions generally occur on weekends, when these hotels have relatively low occupancy and incur limited incremental cost. Starwood has also developed a series of offerings (e.g., upgrades, flexible check-in, Internet) that are highly valuable to their top customers, but bear little marginal cost. Overall, Starwood’s loyalty program has improved its brand appeal and helped the chain achieve above market growth, despite relatively low overall guest satisfaction scores. 

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Tips to Increase Business During the Slow Season

Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America. We help business owners access the information that is often necessary for growth.

Many small businesses experience a slow season from November through January.  For those trying to increase sales through the holidays, we have suggestions that may help:

1. Revisit old leads- If you are organized with your sales leads, you probably have a list of old leads to market to. Start contacting these old leads to see if they still have a need for any work. You would be surprised what one follow up call or email can do even for leads that are a few months old. 

2. Create a seasonal promotion - During the holiday season people are looking for a deal. Create a special holiday discount that is only valid through your slow season!

3. Make the most of the leads coming in - Unlike the busy season when you may be booked for months and can be more selective about the jobs you take, in the slow season you need to try and book every job you can. That means changing your sales and follow-up style to be more aggressive. Every job won really counts in the winter when you are struggling for work. That means you should call every lead faster and follow up more times.

4. Launch a referral program - Create an incentive for customers to recommend you to friends and neighbors. Post the promotion on your website, send an email to your contact list and call loyal customers to tell them about the new promotion.

5. Diversify your services- Many small businesses add extra services during the holiday season. For example, many contractors will start a Christmas light hanging business a month before and after Christmas. Think outside the box and use tips 1-5 to alert your past customers about your new offerings.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Reasons to Hire a Business Consultant in the New Year

Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America. We help business owners access the information that is often necessary for growth.  During the New Year, there is typically an increase in small and medium – size businesses looking to partner with business consultants. If you’re a business owner considering hiring a consulting firm, here are reasons why it may be in your best interest: 

1. External change- It can be hard for companies to do what’s right, particularly when it comes to job layoffs, salary and benefit changes/reduction, and major operational and strategic shifts. Hiring consultants can be a way to reach the desired conclusions with sufficient political cover in case certain parties are unhappy.
2. Best practices across industries and functions– consultants have the rare privilege of serving multiple clients in the same sector and serving multiple clients facing similar problems across different sectors. This enables them to recognize common attributes of effective solutions, applying lessons learned in applicable situations. This knowledge is partially institutionalized at each consulting firm (in the form of white papers, databases, post-project reviews, etc.); however, much of the information exists in the collective heads of partners and to a lesser extent, senior consultants.
3. Analytical horsepower - Companies may need help solving issues and executing strategies where their skillsets and knowledge are insufficient. Consultants can be of great value given their training and capabilities. 
4. Fresh perspective - Companies often need a fresh set of eyes.  In fact, you’d be amazed at the amount of value consultants can add based on the most mundane observations and insights. Critics contend that this is an example of consultants selling “glorified common sense,” but for front-line client employees, it can be easy to fall into daily routines without a critical eye towards measurement, analysis, and improvement.
5. Training and skillset augmentation - Every consulting project – particularly ones with heavy client interaction – incorporates client training as a major ingredient. The best recommendations are worthless if clients can’t implement and maintain suggested changes. Thus, a large part of what consultants do is to educate client employees on necessary knowledge, skills, and mindsets.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Social Media Tips for the New Year

Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America. We help business owners access the information that is often critical for growth.  

Social media is a tremendous outlet for business owners today. With the approaching New Year, it’s important to consider factors in social media:

• Maintain a Consistent Brand Message – Review your brand mission and vision. Online customers are becoming more discerning when it comes to messaging, so you must ensure that your entire team is aligned when it comes to the company mission. Once this is settled, solidify your company voice since it is the focal point of your social media and customer engagement strategy. 
• Track Your Online Visits and Sales- If your audience is growing, so are your segments and this will affect how you approach your social media strategy. User personas will change. How people interact with your brand may have changed. All of this is pure speculation though if you are not tracking your traffic and conversion with analytics tools such as Google Analytics, Facebook Insights, Hootsuite, etc. It’s not good enough to see growth. You need to know why and how your business has grown to make a robust roadmap for 2017.
• Budget for More Resources- If you want to keep your marketing budget realistic, you’ll need to research where online trends are heading. Social media has become a cost-effective channel which deserves a team of its own. How do you approach this in your forecast? Make sure you allot enough resources to focus on upcoming trends which will take a bit more time than you may expect. Real-time engagement is becoming a norm on social media now, so a dedicated resource is vital to making this work for your small business.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Tips to eliminate Workplace Holiday Stress

The business consultants at Global Resources have the expertise to help small and medium – size businesses achieve success.  During the busy holiday season, we know that the office may become a battleground of stress.   Here are 5 tips to help some eliminate some workplace stress, for both owners and employees:

1. Breathe: We often need reminders, especially around the busy holiday season. Put a Post-it with the word “Breathe” on your computer screen, or set an alarm for the top of the hour, when it strikes, and take three deep breathes, releasing slowly. Then hold out the last breath for a few seconds. You’ll be surprised how energizing it can be, while calming your nerves. 

2. Determine what can wait: We tend to overextend ourselves during the holidays. Often there’s a desire to do that last minute report, answer those last few e-mails or squeeze one more meeting into the afternoon. Ask yourself, “can it wait?” Now sometimes it can’t, especially if you want to hold onto your job. That’s not a light matter. But in some cases, depending on the urgency, have a plan in place to execute within a reasonable amount of time.

3. Respond with kindness and compassion: It’s so easy to write those words; a heck of a lot more difficult to practice them. Rule of thumb is to give people the benefit of the doubt. At least during the holidays! It’s really about you and how you choose to respond to conflict in the workplace. We should never allow ourselves to be stepped on, but sometimes walking away from conflict speaks volumes. This is a good time to set aside differences at work.

4. Recharge your battery: There’s a lot of excess running around and stress related tension in the simple daily activity in the office. The holidays can send you right over the top. Whether it’s meditation or exercise – figure out a way to wind down, such as taking a walk away from your desk. 

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

4 End-of-Year Accounting Tips for Small Business Owners

At Global Resources, we specialize in many areas of business, including accounting systems and information systems that help predict cash flow. We also realize that this is the time of year that small business owners must pay special attention to accounting. Managing your financial records is critical throughout the year, but even more so in December. By maintaining excellent records and keeping them in order, you’ll help yourself when tax time rolls around. This also sets you up for starting off the next year on the right foot.

Here are four tips for business owners to help keep on track with accounting tasks: 

1. Run a Few Standard Reports - Take time to assess where you stand financially and how that compares to previous years. Using your accounting software or looking through spreadsheets or other records you keep, you want to generate a complete financial report, which typically consists of a profit and loss statement, a balance sheet and your cash flow statement. Your profit and loss report is one of the keys. However, a business owner also has to develop key performance indicators that will help him manage the business by identifying the critical variables which will determine the financial performance of the business.  These key performance indicators and critical variables are the key to both operational and financial performance for the next year. 

2. Analyze Your Cash Flow Statements - Cash flow is the best way to tell how your money was spent throughout the year. You’ll want to take a look at three specific aspects of your business’ cash flow:

• Cash flow from operating activities (i.e. revenue and expenses)
• Cash flow from investing activities (i.e. assets purchased and assets sold)
• Cash flow from financial activities (i.e. loans and repayments)

3. Reconcile Accounts Receivable - You should have a running list of what invoices are still unpaid or which clients still owe you money for work already completed. If possible, chase these outstanding bills and try to collect before the end of the year. This will help with cash flow and give you a clean start for the upcoming year.

4. Double-Check Your Payroll and Benefits - It’s better to stay on top of any issues or corrections that need to be made to your payroll before year’s end. Ensure that taxable fringe benefits, such as third-party sick pay or a company car are accounted for. Other benefits that are easy to forget include educational reimbursement, health and life insurance, and transportation subsidies.

To learn more about us and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Understanding Holiday Pay for Your Small Business

At Global Resources, we utilize our experience to help small and medium – size businesses grow and thrive in the rapidly evolving marketplace. 

Our consultants have seen firsthand that the holiday season can bring about confusing payroll administration situations. Handling holiday pay can actually raise some tricky questions. To help eliminate any potential payroll questions you may have at the end of year, we have included information below:

1. In most cases, you are not legally required to provide holiday pay. You are not required to compensate employees for the time they are out of the office on the holidays. As described on the United States Department of Labor website covering holiday pay, the Fair Labor Standards Act stipulates that neither vacation nor holiday pay is federally required; it’s a matter of agreement between the employer and employee. However, employees like receiving holiday pay. In fact, a study by the Society for Human Resource Management (SHRM) indicated that “paid time off” was listed as the 2nd most desirable employer-provided benefit—ahead of 401k and pension contributions and behind only health and medical coverage. Another SHRM study found that the vast majority of employers are making good on employee wishes, as 97% of studied organizations reported providing holiday leave pay to full-time employees.
2. There are some edge cases where employers must provide holiday pay. While companies at large are not legally required to pay holiday wages as a standard practice, there are some situations where it is required of government contractors. For bid work where the McNamara O’Hara Service Contract Act (SCA) or Davis-Bacon and Related Acts (DBRA) apply, one of the stipulations is that employees must receive holiday pay.
3. Many states have said no to holiday pay “takebacks.” It’s wise to check your state payroll laws, as many states have made “use-it-or-lose-it” rules illegal, banning businesses from reneging on previous holiday or vacation pay commitments. In fact, printer manufacturer, LexMark International, recently lost a $13.6 million class action lawsuit after a California appeals court upheld the finding of a lower court that employees were due holiday and vacation back pay. An alternative for employers who no longer wish to pay out on holidays is to cap the ability to accrue holiday or vacation pay moving forward.

To learn more about us and / or to schedule your appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

The Different Types of Small Business Manufacturers

Global Resources is a full-service business development group and general management consulting firm that specializes in many industries, including small business manufacturers.    We have seen firsthand that manufacturers in the small business arena are growing faster than larger manufacturers which are often slow to adopt new technologies and new manufacturing methods.  This is partially due to organizations such as the American Small Manufacturers Coalition (ASMC), which exists to promote small manufacturers and to lobby government to assist with legislation and federal programs.

Small manufacturers can offer specialized and personalized products that larger manufacturers cannot make profitably.  In addition, niche manufacturing by small manufacturers allows them to operate in areas that have little or no competition from larger companies. When small businesses are involved in manufacturing, there are a number of manufacturing methods that are employed. These are flexible, continuous, intermittent and custom manufacturing.

1. Flexible Manufacturing - Flexible manufacturing uses equipment that is controlled by a number of Computer Numerical Control (CNC) computers. The production relies more on robotic cells than manufacturing personnel, which allows the business owner to change the products manufactured to react to customer or market needs.
2. Continuous Manufacturing - This process is basically an assembly line that produces a single finished product rather than a number of products or products made specifically for a customer order. The assembly line can be made up of a number of workstations or work centers where individual operations are made on the product as it passes along the line. This manufacturing method is ideal for small businesses that do not manufacture items that are customizable. This allows every finished good that is produced to be sold to any customer without modification.
3. Intermittent Manufacturing - If a small business is going to manufacturer products that are of a similar type, they can adopt an intermittent manufacturing method. Businesses that manufacture items that are similar in nature, but have variations, are suitable for intermittent manufacturing. For example, a company that only manufactures tires for cars will sell tires that are of different sizes to fit a variety of cars. Businesses will manufacture batches of the same product depending on demand and then will manufacture a batch of the same or another product. This type of manufacturing is good for products, which are based on fluctuating demand.
4. Custom Manufacturing - This particular method is used by a large number of small businesses. This method allows business owners to fully customize their finished product to the requirements of the customer. Many items can only be manufactured in this method due to their complexity or the skills required in manufacture cannot be replicated by a machine. Small business owners that work alone often specialize in items that are made using custom manufacturing.

To learn more about us and / or to schedule your appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Tips to Avoid Business Stress

The business consultants at Global Resources have the expertise to help entrepreneurs launch small businesses. Starting a business is a huge commitment that can reap many long-term rewards. If you’re looking to become a business owner, we can help put you on the path to success.

If you’ve recently launched a business, you may have realized it’s common to feel overwhelmed.  Below are tips to help you avoid the unnecessary stress!

1. Don’t let the first failure stop your progress - Entrepreneurs almost always face setbacks: a pitch gets rejected, a client gives negative feedback or a new digital product flops. But they keep going, because they know that one rejection doesn't mean their contributions are worthless. Instead, they take it as proof that they are trying something new and taking risks, some of which are bound to fail.
2. Don’t think you're earning too little to make a difference - Many entrepreneurs make what seems like small amounts of cash on a weekly or monthly basis.  You need to give your business time to grow.  Even micro-businesses represent new opportunities and potential.
3. Don’t overinvest in startup costs- It's easy to plow savings into a new business before it's even launched: a beautiful website, a professional marketing plan, trips to conferences and new certifications. But before investing a cent, successful entrepreneurs often first look for ways to bring in revenue to offset those costs, while simultaneously testing the market. That might mean offering nutrition consulting services before setting up a new website, or selling an e-book through Amazon or another existing e-commerce channel before printing paperback versions.
4. Don’t work too hard for too little- When entrepreneurs are first starting out, they sometimes make the mistake of undercharging for their services, or setting up a business model that would require a 100-hour-a-week schedule to earn a living wage. Simply charging more for products and services can signal quality to potential buyers. Testing the market to see what it can bear, and checking out competitors' prices, can help entrepreneurs avoid starting too low.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Steps to Start a Concrete Construction Business

Global Resources is known for expertise in many industries, including concrete construction. Starting a concrete construction company is a dream that is achievable for those individuals who have experience in this segment of the contracting sector of the marketplace, but are not sure where to begin. If you’re looking to start such a business, we have general tips that may help you:

• Apply for a Concrete Business License - Securing a license is one of the most important administrative matters pertaining to your business. Together with business name registration, paper work should be taken care of before you start operating your company. It is best to go to the local authorities and fulfill the requirements as soon as possible.
• Source Materials -One of the foundations of your business will be the materials you will use for your concrete. It is advisable to make a survey of the companies that supplies materials, including the prices. Select a supplier that offers the best price and the quality you need. Getting inferior quality materials simply because it is the lowest available price will result on costly re-work and dissatisfied customers who can quickly drive away new business with the advent of online customer feedback. 
• Select a Location -Accessibility is the foremost consideration in finding the right place for your concrete company business. It must be both convenient for your customers and for delivery of materials in and out of your location. It also must be big enough to store materials at the same time serves as a workplace for your employees.
• Hiring Employees - Administrative staff and field workers are the different types of employees you will need to hire. Hire administrative staff who are diligent, efficient and literate in every administrative task. On the other hand, the workers must be both skilled and professional. You can directly hire employees or contact a hiring and placement firm to assist you in finding the right people for your business.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Preparing for a Small Business Loan

Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America. We help business owners prepare for the challenging process of applying for a small business loan. This is extremely important as preparation can make all the difference in whether a company receives the funding they desire.  

If you’re a small business owner looking to secure a business loan, here are tips that can be beneficial:

• Don’t limit your options – Research and make a list of five potential lenders and start at your first choice.  If approved for a loan, continue to shop the market for the best rate.  If declined, keep trying!  Too often, mostly due to lack of time, business owners stop at the first or second negative response.  Be prepared to seek a loan from a minimum of five lenders.  And learn from your mistakes.  If one lender turns you down for one reason or another, learn from this feedback and adjust your approach with the next lender.
• Be prepared to share all of your financial information – Provide your lender with all the financial background on your company, future growth plans and, often, your personal financial information.  By offering this information up front, it will allow a bank to gain an understanding of your complete financial situation and it will ultimately reduce the time to finalize your loan package.
• Provide detailed information—Show exactly how you will use the requested funds and how much you need to accomplish your goals.  Lenders appreciate attention to detail and preparedness when it comes to the facts. 
• Seek out assistance with the SBA— The Small Business Administration is a great resource for small businesses.  The more you know about the products that are available for your unique situation, the better your chances are at securing a yes response to your application.  Visit www.sba.gov, to learn more about SBA loans.
• Look locally- Community lenders are often best equipped to appreciate how your company works within the local business environment opposed to big financial institutions.  

To learn more about us and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Reasons to Plan a Business Exit

Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America.  

At Global Resources LLC, we recognize that some small business owners plan an exit early on while others question why they may need an exit strategy. Below are some examples why savvy business owners plan an exit:

• Outside investors want to collect their profit. Remember that equity investments are not like loans with interest. The investor sees no return until he cashes out, or the company is sold. Three to five years can be a long time to wait for any pay check for reimbursement. 
• Family member is ready to takeover. Some of the most successful transition plans are between current and future generations in a family business.  The plan may include provision for the current management to one day relinquish control and management, allowing the new generation to pursue their own plans and strategies for the business. 
• Entrepreneurs love the art of the start. Assuming your startup takes off, you will probably find that the fun is gone by the time you reach 50 employees, or a few million in revenue. The job changes from creating a “work of art” to operating a “cookie cutter.” In three to five years, you will be anxious to start a new entity, with new ideas and spinoffs that have built up in your mind, and certainty that you can avoid all those potholes you hit the first time around. If your startup was less than a success, you’ll definitely want to erase it from memory.

To learn more about us and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Why Small Business Owners are Launching Mobile Apps

A growing number of small businesses are interested in integrating mobile apps for their customers.  Mobile technology grows and evolves daily, which creates immense opportunities for small and medium-size businesses.  In fact, having a mobile app is becoming a common component of the mobile marketing strategy behind many smart business owners.

If you’re wondering why your small business would want to launch an app, the business pros at Global Resources have information for you:

1. Engage with your customers. Mobile apps give small and medium-size businesses the opportunity to interact with customers in real time with valuable information on location and other demographics through user profiles. Effective apps produce an engaged customer, which often turns into a paying customer.
2. Promote your products and services. Marketing research has shown that customers perceive companies that offer mobile apps more positively than those that don't. In addition to promoting your brand, an app can also help showcase products and services that drive sales. 
3. Market your business in multiple ways. Apps can help you bring together multiple marketing tactics and make them all work more effectively in your favor, including recognizing and rewarding customers. You can also use your app to communicate with customers at any time, no matter where they are. 
4. Expand your customer base. You may already have a traditional site but trends are increasingly moving toward mobile search and browsing.  Companies that don't offer mobile apps and responsive design sites appealing to the mobile medium could quickly become obsolete in our mobile savvy market. Mobile apps, especially those integrated with social media, can also reach a younger demographic that might otherwise never encounter your business.
5. Boost revenue. Building purchasing capabilities into your mobile app ensures customers can buy what they need from you at any time. Your app can include a product catalog, ordering and reservation capabilities — so if customers are away from their PC, they can order what they need and pay for it from their mobile devices.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Improving Employee Morale in Your Business

At Global Resources, we navigate the way for your success.  In fact, every member of our team is dedicated to being the most impactful partner you will ever have.  When you partner with us, you will immediately see that we emphasize building employee relationships to create unity and reduce retention.

If employee morale is important to you, there are many ways to increase company satisfaction in the workplace.  Below we have six tips that can be intertwined into any business.  

1. Be transparent - Employees need to feel confident discussing everything with you — even the negative news.  
2. Understand individual employees – A business leader must ensure every team member is being as productive as possible, even if you have to treat everyone a little differently to do so. The more effective you are at flexing your managing style, the more effectively your employees will carry out their assignments.
3. Constant feedback – Employees today want regular feedback on performance.  Long gone are annual reviews.  Instead, real-time feedback helps foster growth and helps employees meet goals. 
4. Relinquish some control – At times, employees want to be the ones in control. Encourage your workers to come up with their own ideas and support their creative endeavors. 
5. Provide room to grow - A significant factor in increasing company morality is to make sure employees understand their chances in upward mobility. Growing professionally decreases frustration and adds a sense of personal satisfaction. 
6. Offer motivation- Incentives often contribute to employees feeling appreciated and motivated.  Incorporating things like free lunch, half-day off, relaxed dress code or gift cards can increase employee satisfaction in the workplace.

To learn more and / or to schedule your complimentary appointment with the renowned business experts at Global Resources LLC, call us at 855-338-0266. 

Online Reputation Management for Entrepreneurs

At Global Resources, we are helping business owners take control of how the online world views their business, which ultimately protects your growth. 

Consumers turn to the Web to research practically everything before they buy, and one blistering review on Yelp can go viral and undo everything you’ve worked to achieve. Worse, its effects can haunt your bottom line for years. Managing your reputation is something you can’t afford to ignore.

Blogs, forums and anonymous review sites can give consumers a strong voice, which can be helpful to your business. However, they can also attract commenters and reviewers who may be acting at the behest of your competitors. Unless you actively monitor and manage your business reputation, you clear the way for other people to step in and control your story.

Here are some expert tips for business owners to protect their online reputation:

• Prioritize the internet - Your business may not rely on the Internet, but your customers—and your competitors—go online. As a business owner, you must know what is being said about your brand.  The first step is to do a bit of online research yourself. Google both your name and your company’s name to see what comes up. 
• Understand what is in your control - You can’t control what people say about you on third-party review sites. Instead, focus on improving your ranking in Google search results. Post useful articles and helpful content on your website, blog and/or social media pages. Share your expertise and make yourself a trusted resource for your customers. It may take some time, but the results will be worth your effort.
• Safeguard your reputation - You could pay a reputation management company, or you can utilize free tools and services to help you track your company’s reputation. Google Alerts, TweetBeep, Naymz, Social Mention, and MonitorThis are but a few examples.  

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Copyright Protection for Business Owners

At Global Resources, we often create the foundation for success.  Whatever stage your business may be at, we can help elevate your brand and increase profits. 

Some clients may require assistance for copyright. If you’re a business leader contemplating obtaining a copyright, we can help you.  If you’re just beginning your research, here are details you should know:   

1. What is copyright? Copyright is a legal right created by the law of a country that grants the creator of an original work exclusive rights for its use and distribution. The exclusive rights are not absolute but limited by limitations and exceptions to copyright law, including fair use. A major limitation on copyright is that copyright protects only the original expression of ideas, and not the underlying ideas themselves.
2. What can I have copyrighted? According to the US Copyright Office, in order for something to qualify for copyright protection, that something must exist in a tangible form. Specifically, protection under the copyright law extends only to original works of authorship that are fixed in a tangible form. “Original” means merely that the author produced the work by his own intellectual effort, as distinguished from copying an existing work. Copyright protection may extend to a description, explanation or illustration, assuming that the requirements of the copyright law are met.
3. What cannot obtain a copyright? There's always room for interpretation and confusion over what is and isn't protected by copyright law. Below we've outlined five things the US Copyright Office clearly states are not protected by copyright—even if they are a tangible expression of an idea or thought.

• Ideas, Methods or Systems- Ideas, methods and systems are not covered by copyright protection. According to the US Copyright Office, this covers quite a few things including making, or building things; scientific or technical methods or discoveries; business operations or procedures; mathematical principles; formulas, algorithms; or any other concept, process, or method of operation.
• Commonly Known Information - This category includes items that are considered common property and with no known authorship. Examples include standard calendars, height and weight charts, telephone directories, tape measures and rulers and lists or tables taken from public documents. 
• Choreographic Works - A choreographic work, whether original or not, is not subject to copyright protection unless it has been videotaped or notated. The same applies to speeches that have not been transcribed before or after they are given, as well as any other types of performances.
• Names, Titles, Short Phrases or Expressions - Also exempt: names, titles, short phrases, or expressions—such as that catchy slogan you came up with for your business—product descriptions, pseudonyms, titles of works and business names. 
• Recipes-Specifically the listing of ingredients (even if it's your own recipe ingredients) is not protected by copyright. This applies to formulas, compounds, and prescriptions as well. There are exceptions however, such as when recipes are compiled in a cookbook for instance or if the recipe is accompanied by “substantial literary expression,” a term that refers to text such as directions, or when there is a combination of recipes, there may be a basis for copyright protection.
• Fashion - Contrary to what you might think, fashion is not protected by copyright law. Despite the fact that copyright law protects such things as architectural design works or works of the visual arts, fashion is all about clothing and accessories, which under copyright law are considered “useful articles." It is possible however, to copyright a specific fabric pattern (Burberry plaids for example), but not the actual dress.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266.

License and Permit Requirements for the Small Business Sector

Global Resources LLC is dedicated to being the most impactful partner you will ever have.  At Global Resources LLC, we navigate the way for your success.  Often, the need for business licenses and permits can be forgotten during the thrill of launching a new business.  However, licenses and permits are mandatory.  Before you can legally start any new business operations, you must have all necessary licenses and permits in place. If your business has employees or sells taxable goods or services, you must also register with the taxing authorities.

Did you know that government resources do not offer one place where you can go and get all your licenses, permits and tax registrations? In fact, obtaining all the requirements can be a confusing and time-consuming obstacle.  When you work with us, we ensure every aspect of your business is handled with precision and professionalism.  That’s why entrepreneurs will find it especially beneficial in working with us.

Global Resources can expertly lead you in this tedious process.  In the meantime, here is a brief overview of some license and permit expectations:

State - According to the Small Business Administration, the following occupations frequently require state licensing: accountants, appraisers, building contractors, physicians, private security guards, bill collectors, funeral directors, real estate agents, barbers and cosmetologists. A home-based business may also require state licensing. Small business owners shouldn’t guess which professions require a state license; instead, they should check with their licensing board. 

Local - According to the SCORE website, almost all businesses must have a city or county license. The local government in which the business is located issues city and county licenses. The business owner can visit his city hall or county government for licensing requirements. 

Federal - The business owner must obtain a federal business license if the business is highly regulated or heavily supervised by the federal government. The following business activities are federally regulated and subsequently require federal licensing: agriculture; aviation; alcoholic beverages; firearms, ammunitions and explosives; commercial fisheries; fish and wildlife; nuclear energy; maritime transportation; mining and drilling; transportation and logistics; and radio and television broadcasting. The requirements vary by federal agency. 

Sales Tax - Nearly all states require retail businesses to obtain a sales tax license. A sales tax license enables the owner to charge sales tax on goods sold. The state revenue agency, equalization board or franchise tax board issues sales tax licenses. A sales tax license is also called a seller's permit. 

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Launching a Franchise with Global Resources

It’s no surprise that the franchise industry has been one of the swiftest growing sectors in the business world.  For variety of reasons, employees today have the desire to become their own boss.  At Global Resources LLC, our experts can help you navigate the way to starting your own franchise. 

If you’re considering ditching the corporate ladder and opening a franchise business, we have steps that may help you with your new endeavor:  

     1. Due Diligence. Do you own research and find out as much information as possible, including types of franchises, location options, a timeline for opening, etc. 

     2. Contact. Now it’s time to meet with the franchise business that you’re interested in. Learn the requirements to open your own franchise, determine operations information and find out the kinds of training, marketing and operational support the franchise representative can offer you.

     3. Business Plan. Review all of the information that you've received from the franchisor and include your own research into market conditions. Incorporate this information into a thorough business plan. Make sure your business plan includes estimated investment costs and projected returns.

 
     4. Financial Options. Internal financing options are typically available through the individual franchisors in order to help the franchisee afford the cost of opening a new franchise location. All programs have varying benefits, but typically appear in a low-interest environment with more relaxed approval standards, which are usually easier to obtain that the more traditional loans offered at banks and credit unions.

 
     5. Contract. When you're sure you meet all requirements for franchise ownership, you may proceed to signing a binding agreement with your franchisor. Always be sure to have your attorney review the contract before you sign it. If you have any questions or need more information, take the time to get satisfactory answers from franchise representatives before agreeing to anything.

   
     6. Orientation Programs. It’s common in the franchise world that all new owners are required to participate in training, which will help them prepare to run their new business. A franchise typically has figured out their own unique recipe for success, so the new business owner must take the time to learn the secrets of the franchise.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Tactics Used by Successful Companies

The renowned business consultants at Global Resources  help small and medium-size businesses maintain positive cash flow, control costs and accelerate profitable growth, allowing entrepreneurs and managers to make the most of their work and their lives.

Global Resources LLC offer clients a significant return on their investment, establishing a long and mutually beneficial relationship. When you partner with us, we create and implement new processes and procedures to ensure everyone in your business is thriving in the workplace. 

If you are a business owner or leader, we have strategies to share that all successful business men and women practice: 

1. Future orientated - All sales leaders know that they need to anticipate changes that could turn into opportunities or threats. Yet the best leaders move beyond acknowledgement to commitment.  Sales leaders must consistently monitor the macro-environment in search of sales opportunities, which is no easy task given the relentless pressure to hit near-term targets. Forward planning must be part of someone’s job description—not just part of top management’s lengthy to-do list—with sufficient resources to take advantage of the best opportunities. 

2. Digitally savvy - Successful brands use all of their tech capabilities to greatly increase the effectiveness of their sales force and to transform the customer buying experience.  When it comes to customer experience, leading organizations are creating digital routes to market or traditional direct or indirect sales with digital. 

3. Investment in people – Business leaders who are committed to their employees will naturally have a higher retention rate and have a staff that cares more about the growth and reputation of the business.   When owners and management invest in customers, they create a loyal customer base.  Both situations are critical when striving to maintain a successful business. 

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Business Consultants Help with Construction Business Expansion

The business professionals at Global Resources offer extensive expertise and firsthand knowledge in a broad range of industries.  We present comprehensive management solutions to any business, regardless of the industry.  In fact, many business leaders are trusting Global Resources LLC to assist in growing their brand and increasing profits.

Our business experts often help leaders in the construction industry expand their business.  We help contractors, remodelers and construction tradespeople understand their costs, price their work to make a profit and bring their business under control. We understand the special needs of these companies and create custom solutions for each.  Some of the areas we help with include: 

• Determining how much money is your construction company making 
• Pricing jobs according to a strategy that works for your company rather than trying to undersell the competition
• Creating a consistent estimating method that can be used 

Global Resources recognizes that every business is unique.  We seek to apply individualized creative solutions, specifically tailored to address the needs and concerns of our clients.  No other company is as knowledgeable or has a greater expertise in providing analytical, consulting and tax planning services for the owners of small and medium-size businesses.  We offer our clients a significant return on their investment, establishing a long and mutually beneficial relationship.

Our team of renowned analysts and consultants are ready to work with you, onsite, to develop the state of the art management processes, practices and policies to drive profitability and grow your construction business.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Strategizing in the Digital World

At Global Resources, we offer extensive expertise and firsthand knowledge in a broad range of industries.  Our tested methodology, including analytics and consulting, allows us to present comprehensive management solutions to your business. 

In today’s marketplace, Global Resources LLC is often called in to help integrate digital advancements into the workplace.  A new wave of digital tools can help companies to focus not only on hiring but also on managing, retaining and developing employees. Digital labor platforms can pull these tools into an integrated whole as companies expand their employee database, refine recruiting methods and organize their employees more effectively. Such tools, and the platforms that include them, can put the right person in the right job, identify gaps in skills, assist employees in further education and nurture the development of the next generation of business leaders.

Online labor platforms make it easier to find—and harder to retain—talented people. They give companies a real opportunity to transform the way they recruit, develop and engage their employees. 

• LinkedIn has more than 122 million US members.  In addition, LinkedIn and sites like Careerbuilder and Monster.com have changed the way employers and employees connect, and digital marketplaces such as Freelancer.com, Toptal, have transformed the sourcing of contractors’ services internationally.
• Digital labor platforms have also created a more transparent job market. Top performers know their value and are growing more footloose as a result; many are going online to find new opportunities and to evaluate potential employers. What’s more, a lot of people now scour platforms such as Glassdoor to learn what current employees have to say about their job satisfaction, company culture, and lifestyle. Companies that don’t manage their workplace reputations carefully, or engage their employees appropriately, will find themselves on the losing side of an increasingly digital war for talent.

Global Resources LLC helps small business owners capture substantial value by applying digital innovations to some of the most critical organizational challenges: matching the supply of and demand for labor, boosting productivity and getting the most out of people. 

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Various Industries Opting to Grow with Business Consultants

Global Resources offers extensive knowledge and expertise in a broad range of industries to meet the individualized needs of business owners and leaders.  Our unique methodology, including analytics and consulting, permits us to present comprehensive management solutions to any business, regardless of industry. Business owners across various sectors often opt to utilize professional business consultants, such as Global Resources LLC, to assist in growing and increasing profits.

1. Construction - Your construction company will only go as far as your employees will take it. It’s important to keep your workers content, which means paying them on time and providing incentives. GR consulting services can implement new and improved methods, systems and controls that will improve cash flow and profits to suit this purpose.
2. Food Service - The food service industry is one of the most challenging sectors for new business and demands creativity and top-notch management systems to survive and thrive.  Restaurants, fast food franchises and food and beverage vendors have many factors that can make or break their business, including food and labor costs, spoilage/throw-away, turn-over of tables and productivity.  The experts at Global Resources can help you achieve success.
3. Retail - Controlling operating expenses, managing modern sales and marketing strategies and reducing internal costs are crucial in having a profitable retail future.  We work diligently with retailers to analyze and identify challenges, implement solutions and embrace new technology.  When you partner with us, we will help you increase profits, engage customers and enhance operations in today’s digital world.
4. Wholesale – At Global resources, we utilize years of industry experience to develop creative solutions that get results for wholesale businesses.  With in-depth expertise in retail, direct to consumer and consumer goods industries, we offer integrated strategy, process and technology solutions to the wholesale industry. 

We also consult in industries including Machine/Job Shops, Energy, Manufacturing, Motor Vehicle and Printing.   To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

How to Develop a Profitable Business Growth Strategy

At Global Resources, we help small and medium-size businesses accelerate profitable growth, allowing entrepreneurs to flourish. 

When you partner with the pros at Global Resources LLC, your company will benefit from the growth strategies we uniquely create for you.  Growth strategies resemble a kind of ladder, where lower-level rungs present less risk but may offer less impact for growth. When you go about developing your own growth strategy, you should first consider the lower rungs of what are known as Intensive Growth Strategies. Each new rung brings more opportunities for fast growth, but also more risk. They are:

1. Market Penetration - The least risky growth strategy for any business is to simply sell more of its current product to its current customers. 
2. Market Development - Next is to devise a way to sell more of your current product to an adjacent market—offering your product or service to customers in another city or state, for example. 
3. Alternative Channels - This growth strategy involves pursuing customers in a different way such as, for example, selling your products online. Using the Internet as a means for your customers to access your products or services in a new way, such as by adopting a rental model or software as a service, is another Alternative Channel strategy.
4. Product Development - This classic strategy involves developing new products to sell to your existing customers as well as to new ones. If you have a choice, you would ideally like to sell your new products to existing customers because selling products to your existing customers is far less risky than the need to simultaneously learn how to a new product and develop a new market for it.
5. New Products for New Customers – Often, a thriving product will naturally lead into the creation of new products or services. Sometimes, market conditions dictate that you must create new products for new customers. At this critical point, it’s great to work with the business professionals at Global Resources. 

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266.

Professional Development Programs Improve Business Operations

Business owners who are looking to save money often eliminate employee training and educational programs.  However, training, education and degree completion programs have become one of the most desired employee benefits available. In fact, the opportunity to learn new skills is the number one benefit among young job seekers.

The Generation X and Generation Y workforce view professional training and development as necessary. They value the opportunity to advance, increase their value and make a bigger contribution in the competitive world.  It’s no surprise that business owners seek out the professionals at Global Resources LLC to create state of the art development programs unique to their business.

Training programs created by Global Resources will benefit the entire business. Well-trained employees are:

• more capable and willing to assume control in the workplace
• require less supervision, which frees management for other tasks
• proficient to interact with customers, which builds loyalty and customer retention
• more motivated and driven by success
• fulfilled by having positive workplace relationships

Last year the American Management Association (AMA) survey of 352 HR executives confirmed that certain workplace enhancement issues were of top importance to employees and also improved employee retention. Investing in employees' future is often more important than immediate compensation. Programs that improve work skills and future career development are seen as particularly effective amongst the work force. The AMA survey identified the following skill enhancement techniques and the percentage of companies employing them as a retention strategy:

•External conferences/seminars/78.1%

•Tuition reimbursement/67.3%

•Managerial training/66.8%

•Company support for degree/62.2%

•Interpersonal skills training/56.8%

•Technical training/54.5%

•Employability training/35.2%

Global Resources will help integrate a variety of techniques into your training and educational program, which will have a positive effect on your entire business. To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266.

Increase Business Profitability

Business owners typically share one goal, which is to maximize business profit.  At Global Resources LLC, we maintain the expertise necessary to help our client’s increase their business profitability.

Typically, companies evaluate gross profits, operating profits and bottom-line or net profits. Increasing profit at any of these levels is based on increasing revenue, lowering costs, or both. The professionals at Global Resources will implement proven strategies for you to maximize your business profit.

• Gross profit: Your gross profit is revenue minus costs of goods sold. One strategy to add profit is to generate more revenue while maintaining a constant cost of goods sold.  Developing a productivity-based excess profit compensation plan for your sales employees is a proven way to increase revenues while keeping control of costs.

• Operating profit: Your operating profit is gross profit minus operating expenses, such mortgage / rent payments, utility bills and marketing expenses. In addition to increasing revenue, a company can boost operating profit by reducing its cost structure in one or more of these fixed expenses.  We have the needed expertise to review all the costs associated with your business.

• Net profit:  The bottom line for business owners can be increased by implementing a plan to pay yourself first with what we call a “minimum mandatory profit”.

Increasing Profit Margins

A profit margin is a ratio comparing profit to revenue. A business could increase profit -- but not profit margins -- in a given period if it takes on a higher proportion of costs to revenue than it previously had. The goal of improving margins is to enhance efficiency in turning revenue into profit.  To ensure that your profit margin grows, the business must generate revenue in a more efficient way. Raising prices and / or lowering cost of goods sold are often key drivers of gains in profit margins.

There are four key areas that can help drive profitability. The experts at Global Resources will pinpoint the crucial changes needed in your business and then implement new methods, systems and controls to increase profit margins:

·         reducing costs

·         decreasing turnover

·         increasing productivity

·         increasing efficiency

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Tax Consequence of the Sale of a Business

Selling a business may mean big profits for you, but it may also come with a substantial tax bill. The taxes you pay are collected by the IRS, based on the nature of the business transaction. At Global Resources LLC, our strategic tax planning experts will ensure you and your company take the necessary precautions to come out ahead. 

Consequence - Capital gains tax differs from ordinary income tax. Capital gains refers to a flat tax assessed on the difference between the amount of money you put into the business as "seed capital" or "principal" and how much you receive back as profit when you sell. When you sell your business, you must add the values of all of the business's assets and determine what the fair market value of the combined assets is. 

Benefit - The rates of capital gains are typically lower than general income tax rates, which means you won't pay a progressively higher rate that depends on the final sales price of your business. Because of this, you'll end up with more profit than you otherwise would under a progressive tax.

Disadvantage - You must add the complete value of your business assets when selling, which may require hiring an accountant. However, if your business is large and your profit margin slim, then the cost for assessing the value of your business may erase most or all of the profits from the sale.

Consideration - The IRS allows you to exchange business property for other business property. If the sale is influenced by your desire to start another business, consider a "like-kind" exchange. This avoids tax on all of your gain until you dispose of the new property you acquire. The experts at Global Resources will walk you through every step of the way. 

To learn more and / or to schedule your complimentary appointment with the business tax experts at Global Resources LLC, call us at 855-338-0266.