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.