Blog | Business Leaders’ HeadsUp!

How to Come Up With an Intelligent Budget for Your Small Business | Extraordinary Business
in Blog, Financial Management

How to Come Up With an Intelligent Budget for Your Small Business | Extraordinary Business

by Ravinder Kapur

Every small business prepares a budget on an annual basis. For some companies, this exercise provides a dynamic and powerful tool to monitor financial and business performance during the course of the year. But for other firms, preparing a budget is merely a routine activity that is carried out without much thought or deliberation. The companies that adopt the latter approach are losing an opportunity…

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20

Sep
2016
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Value in Strategic Planning | Extraordinary Business
in Blog, Planning

Value in Strategic Planning | Extraordinary Business

by Rick Meekins

So you have had your business for a number of years and you are successful for all intents and purposes. You have an excellent product, you have an active client base that purchases from you regularly. You know how and where to get new clients and how to keep the ones that you have.  Your team is pretty stable; you have a low turnover rate….

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13

Sep
2016
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Why Collaboration is a Great Way to Expand Your Business
in Blog, Business Growth

Why Collaboration is a Great Way to Expand Your Business

by Fatima Mansoor

Whether it is through the impact of social media or the increasing efficacy of crowdfunding, the power of collaboration is evident. Smart entrepreneurs and business owners are well aware of the advantages of collaboration, especially for expanding their businesses.

6

Sep
2016
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Creative Compensation Plans for Growth-Oriented Small Businesses | Extraordinary Business
in Financial Management

Creative Compensation Plans for Growth-Oriented Small Businesses | Extraordinary Business

by Ravinder Kapur

Designing a compensation plan for your employees can be a challenging task. The amount that you pay your staff should be close to the market rate. At the same time, it is essential to link salaries with performance. Employees should not get the impression that they will receive the same salary regardless of the quality or volume of their output. An effective compensation program is one…

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30

Aug
2016
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How to Tell if it’s the Right Time to Grow Your Business | Extraordinary Business
in Blog, Business Growth

How to Tell if it’s the Right Time to Grow Your Business | Extraordinary Business

by Fatima Mansoor

Expanding your business is almost always on an entrepreneur’s agenda. Whether it’s increasing your revenue from $1 million to $10 million or beyond, your decisions regarding how to expand are crucial. Ascertaining the right time to grow is one of the key qualities of successful entrepreneurs. Business expansion comes with some inherent risks and your ability to identify the ideal conditions for growth will determine…

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23

Aug
2016
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Improve Productivity By Investing In Your Employees | Extraordinary Business
in Blog, Productivity

Improve Productivity By Investing In Your Employees | Extraordinary Business

by Ravinder Kapur

Every small business owner knows that workers with a positive mindset are more productive and engaged in their jobs. Their optimism and can-do attitude can translate into higher customer satisfaction, contributing to greater sales and more profits. Here are some tips on how to improve productivity by investing in your employees.

16

Aug
2016
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How Technology Is Cutting HR Costs | Extraordinary Business
in Blog, Operations Management

How Technology Is Cutting HR Costs | Extraordinary Business

by Rick Meekins

Human resources can be the biggest operating expense for many businesses. A typical profitable company spends about 15 to 30 percent of its gross revenue on payroll, a number that can rise to 50 percent in service industries, according to Second Wind Consultants. This includes money spent on salaries as well as insurance benefits, retirement benefits and taxes. When these expenses are factored in, the…

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9

Aug
2016
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3 Small Business Financial Challenges, and What to do About Them | Extraordinary Business
in Blog, Financial Management

3 Small Business Financial Challenges, and What to do About Them | Extraordinary Business

by Fatima Mansoor

The small business financing landscape is one that changes continuously. Business owners are thrown curve balls especially as they gear up to expand their small business. A range of financial challenges plague the minds of modern entrepreneurs, keeping them from efficiently reorganizing their business for growth.

2

Aug
2016
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Things to Look Out For When Purchasing a Business | Extraordinary Business
in Blog, Business Growth

Things to Look Out For When Purchasing a Business | Extraordinary Business

by Ravinder Kapur

If you are considering getting into business for yourself, buying an existing company could be an excellent option. You will get the opportunity to use your skills and experience to expand operations at the enterprise that you purchase. Many small businesses see a sharp jump in revenues and profits soon after a new owner takes charge. But identifying the right business is not an easy…

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27

Jul
2016
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Create a Work Environment That Retains Employees | Extraordinary Business
in Management, Productivity

Create a Work Environment That Retains Employees | Extraordinary Business

by Rick Meekins

A fun, creative work environment packed with in-office perks is a great way to attract and retain the best employees. Just look at the Google campus. Lovingly called the Googleplex, it boasts an open design, free bicycles and free breakfast, lunch and dinner from any of the on-campus kitchens. Even if you do not have the multi-billion dollar budget of Google, your business can adopt…

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19

Jul
2016
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5 Simple Ways to Market Your Small Business | Extraordinary Business
in Blog

5 Simple Ways to Market Your Small Business | Extraordinary Business

by Rick Meekins

Many small business owners believe that they have no time for marketing. This is because they spend a great deal of time running operations and servicing clients. The problem is, without a strong marketing plan, your business growth will be stagnant. However, there are several marketing techniques that can be easily deployed and won’t drain all of your time. Here are five methods to efficiently…

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15

Jul
2016
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5 Branding Lessons from America’s Best Companies | Extraordinary Business
in Blog, Branding

5 Branding Lessons from America’s Best Companies | Extraordinary Business

by Rick Meekins

Do you own your brand? Maybe you designed the logo, chose a name, built a website and crafted a witty slogan, but none of that means you actually own your brand. A brand is more than a name, patent, trademark or slogan — it’s the perception of who you are and what you provide. So, essentially, it’s your customers who own your brand, not you.

28

Jun
2016
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Business Optimization
in Blog, Business Growth

Tools for Service Providers| Extraordinary Business

by Rick Meekins

 5 Business Optimization Resources to Make Your Accountant Smile Whether you are a chiropractor, dentist, or hairdresser (oops, hair stylist), maintaining a healthy business practice involves continually growing your client base. In today’s mobile-connected and socially savvy world, consumers have more choices than ever before when it comes to finding a service provider. Luckily for service providers, they too have access to more tools than…

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21

Jun
2016
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4 Ways to Invest In Employee Development To Cut Turnover | Extraordinary Business
in Blog, Staffing

4 Ways to Invest In Employee Development To Cut Turnover | Extraordinary Business

by Rick Meekins

Employee engagement has plateaued to 70 percent for some time, with concerns about lack of career advancement opportunities being the top reason why employees quit their jobs, according to a LinkedIn survey of 7 million members. Meantime, an estimated 45 percent of survey respondents said lack of potential career advancement was the main reason they left their job, while 59 percent added that perception of…

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31

May
2016
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Multi-location business owner
in Blog, Business Growth

How Multi-Location Business Owners Can Overcome Challenges | Extraordinary Business

by Rick Meekins

Having your own shop has its difficulties. Having two creates challenges. The expansion from one location to two sets a foundation for the growth of your business for years to come. There are certain trials that a multi-location business owner needs to overcome in order to have the company as a whole thrive in its industry.

20

Apr
2016
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