Choosing A Structure For Your Business: The Co-Operative Explained.

Fair Work introduces new app

The Fair Work Ombudsman has released a new app called “Record My Hours,” to help reduce the amount of disputes regarding underpayments between employees and employers.

The app assists employees in recording the hours they work and other information about their employment for circumstances where issues about their pay arises.

Employees can export the data via email and share it with their employer or the Fair Work Commission if they have a question about their entitlements.

“Record My Hours” enables the location services function on the user’s device to allow users to set their workplace location and automatically record when they commence and finish work, determined by their location.

The app also adds rosters to a calendar, allows the user to receive notifications about upcoming shifts, and take photos of information that belong to them, i.e. pay slips. It also has the ability to record information about piecework arrangements and backs up information collected to iCloud or Dropbox.

While most small business employers do the right thing, the app is designed to address underpayments of young and migrant workers and to act as a backup in the event of a discrepancy or dispute.

Crowdfunding business dreams

Crowdfunding can provide a platform for struggling start-ups to raise capital or businesses trying to get ahead with an injection of cash into a new project.

Although crowdfunding is still in its relatively early stages; it is rapidly gaining momentum. There has been a boost in crowdfunding due to the increase in the level of professionalism, ease of use and ability to access.

Crowdfunding describes the collective effort of individuals who network and pool their resources, usually via the internet, to support efforts initiated by other people or organisations. It allows an interested party to invest in an idea that they find inspiring.

Businesses also can offer perks in exchange for contributions, such as a discounted price of a product once it is developed. Crowdfunding has been used in support of a variety of efforts, including disaster relief, startup company funding and inventions and software development.

There are, however, terms and conditions of the projects listed on some crowdfunding websites. Kickstarter is an all-or-nothing platform, in that it only delivers the business the money if the project’s target is met. Sites such as Indiegogo will pay the business their money if targets are not met, though do charge higher fees.

To receive crowdfunding for a project businesses should consider:
– researching and learning from other successfully funded projects
– planning the project with a set of goals in mind
– having an active online presence, particularly on social networking sites, to spread the word of their project
– thanking all the supporters who contribute to the project

Creating an office of problem solvers

One major key to success is the ability to problem solve. Knowing how to respond to and resolve issues that arise creates stronger, more effective businesses. Whilst employees ought be highly skilled in their given fields, one trait that is truly invaluable is that of problem solving. As an employer, there are tips you can follow to encourage and develop the problem-solving abilities of your staff:

Trust your employees
There is nothing more damaging than micromanaging when it comes to building efficient problem solvers. When employees feel trusted and valued, they are more likely to challenge themselves when seeking out new and effective ways to resolve an issue that has arisen. Set goals for your staff rather than giving them rigid instructions to follow; you will lesson your own workload and you will be amazed at what solutions they can come up with.

Always look for hidden opportunities
We often follow the mantra, ‘if it’s not broke don’t fix it’. A problem arising in one area is actually a great opportunity to refine and improve existing surrounding processes and strategies. By viewing a problem arising as an opportunity to develop and strengthen the business, solving the problem often become less about what was failing to work and more about how much more efficient the process can be made.

Facilitate creativity
When employees are inspired to be creative, they are more likely to think abstractly and laterally, which is ideal for problem solving. This can be achieved through simple changes to the workplace, such as incorporating plant life, art, colourful furnishings; and providing opportunities to break up the monotony of a long day in the office through fun and quick activities such as tic, tac, toe or connect four.

Encourage effective communication
Fostering a workplace where employees are encouraged to speak their mind openly and honestly rather than one where employees only say what they think you want to hear is critical for effective problem solving. An environment where peer brainstorming and peer reviewing is encouraged is one where employees learn to think critically and build resilience.

Tips for successful networking

Whether you are looking to make new contacts in your industry or searching for your dream job; networking is essential to forming new relationships and expanding your connections.

Here are three ways to improve your networking skills:

• Listen

Networking is all about building relationships. One of the best ways to establish a connection faster is to simply listen to the other person with no interruptions. Listening helps to understand the other person’s concerns and identify opportunities where you can offer them value.

• Ask for an introduction

Ask friends and acquaintances for introductions to people they know or people who you would like to meet. Being introduced through someone else can help ease nerves and take the pressure off approaching a stranger.

• Prepare questions

Preparing a few ice-breaker questions can help to get the conversation going and avoid small talk. If you are attending a networking event, do some research ahead of the event about the people who will be there and formulate your questions around their interests, knowledge etc. Having a list of well-prepared questions also helps to increase your confidence and demonstrate your enthusiasm.

Acting on customer feedback

Customer feedback is a great learning source for any business looking to improve their competitive edge. But actually acting upon this feedback is the most important, an often neglected next step.

Feedback from customers is a valuable asset for many businesses. It provides them with customer insights which can assist in improving services, products and overall customer experience. Feedback has also been shown to improve a business’s customer retention rates.

But while feedback does create a competitive advantage for businesses, that advantage doesn’t just come from collecting the feedback. It is how a business chooses to act based on this feedback that makes all the difference.

Businesses may like to treat the challenges that come to light through customer feedback as projects with defined deadlines and expected outcomes. Details such as how long it will take to address a challenge, what strategies should be used or what actions need to be taken, should be taken into consideration when
developing the projects.

An action log can help to maintain the momentum and focus of these projects, and after a reasonable period of time, may serve to give businesses a good understanding of whether goals and targets were achieved in an adequate space of time.

Communicating results with customers is the next important stage. When businesses make any changes that are customer-based, it is important to keep customers who were part of the feedback process updated. This encourages customers to continue giving their input if they know they are being heard and are responsible for any positive changes.

A business may want to conduct follow-up feedback once customers have experienced the improvements. Customer feedback, after all, can be the reason for short-term programs as well as entire company transformations.

When collecting feedback, the overall task isn’t in the listening, but the actual implementation and follow-up. The more businesses can get their customers to participate in these kinds of projects, the more likely a business is to grow.

Understanding cloud storage

Cloud-based storage is becoming increasingly advanced with age. The service’s easy access, tight security, and flexibility are attracting both big and small business owners.

Cloud storage refers to an online space that is used for the storage of data. It allows its users to backup data to a network of servers that are hosted by a cloud service provider. This data is then available through any Internet-connected device.

The main advantage of cloud storage is the flexibility of anywhere access. The data stored in the cloud can be accessed through any Internet-connected device, such as an iPhone or laptop at any location.

Cloud storage is cost-effective when compared to traditional security measures for protecting data. Traditionally, businesses had to pay for equipment, software, and personnel to ensure the security of their private data. The cost of data security in cloud storage is generally covered through a subscription cost.

Another advantage of cloud storage is the ability for businesses to easily scale up or down and only pay for what they actually use. Business owners have been wary of storing private information in the cloud due to the threat of data hacking and privacy concerns. However, cloud security is far stronger than any security devices a company can offer.

Current cloud providers are highly concerned with the security of their systems. They will often utilisecutting-edge data encryption and other security tools to protect data from being hacked. Some of the advanced cloud providers can include advanced intrusion detection, allowing security teams to fend off hackers even before they attack.

Also, physical data storage, such as an external hard drive, can easily be damaged or lost. Data that exists in the cloud is not physical and, therefore, cannot be fractured in the same way an external hard drive can.

There are a lot of benefits to making the switch to cloud storage. The software is provided immediately, and there is no wait on what the business has paid for. Working on the cloud allows businesses to be nimble, efficient and cost-effective.

When considering making the switch to cloud-based storage it is necessary to do some competitive shopping first. Business should consider the following:

• how much they are willing to pay, or whether a free account is the best idea

• their need for customer management, help and guidance

• the licensing arrangements of each service provider

• the capacity constraints of each provider

• whether the provider can still benefit the business in the future

Marketing habits to ditch in 2017

Ever-changing trends, increasing competition and changes in customer buying patterns are just a few reasons why business owners should review marketing efforts regularly.

Past marketing activities that were once successful can easily go out of date. There are always new marketing techniques to experiment with but first it is important to let go of the marketing activities that are holding your business back.

Here are three marketing habits to ditch in 2017:

Wasting time on certain social channels
Not all social media channels will deliver results. The reality is your target customers will most likely have a preference for certain channels over others. For example, Facebook and Instagram may be better-suited mediums than Twitter and Snapchat for real estate agents; however, fashion retailers may utilise Instagram and Snapchat. The key is to experiment with different social channels to gauge levels of interest and engagement from followers, then decide on which channels are best to primarily market your business.

Failing to update your goals
It is common for small business owners to use the same marketing plan they created years ago. This can be quite problemsome especially if marketing tactics are not accurately reflecting your business’ current goals. Take the time to review your marketing plan at least annually or when new opportunities and threats arise.

Ignoring mobile
Mobile has now surpassed desktop as the primary device for internet browsing. Website content and social media posts need to be optimised for mobile users to ensure optimal browsing experience. Businesses that fail to customise their online services for mobile will fall behind, as mobile users favour optimised sites.

Team building exercises

While hiring a group of people that work well in a team isn’t always easy, when you do, it can result in a more effective, productive and overall more successful workforce.

To create a strong team of workers, some businesses turn to setting aside a day to undertake team building exercises to rally everyone together and break down communication barriers, overcome shyness, build confidence in one another and overall unite everyone together.

Before engaging in team building exercises, businesses first need to establish the goal they wish to achieve from engaging in such activities. Many employers plan activities with no goal in mind, which often results in employees reverting back to their standard behaviour after the day of fun and games.

Examples of team building goals include overcoming conflict, improving communication, encouraging collaboration or even simply getting to know one another better.

Businesses also need to consider the type of team building exercises they would like to conduct to determine whether they need to set aside an entire day, half a day or even just a few hours to build a strong team of workers.

Location is also very important – is there enough space in the office to engage in team building exercises or will you need a larger area, like an outdoor field. Consider also whether you will need equipment and if employees will need to bring a spare change of clothes. Some employees may not be able to participate if they are wearing suits or heels.

Benefits of a socially conscious business

Socially responsible business is becoming highly sought after by customers, staff and communities alike.

Building a socially responsible business helps to set your business apart from competitors, improves your reputation and, ultimately, ensures your business is acting in an ethical and moral manner.

Here are three key benefits of running a socially conscious business:

Attract the right staff and customers
Studies show an increasing amount of workers would like to work for a business that makes a social or environmental contribution. Prioritising social responsibility is one key way to communicate your business’ values and therefore attract talented staff who share similar values.

Customers are also demanding products and services from businesses with a high social conscience. Recent research found that 55 per cent of global online consumers across 60 countries say that they are willing to pay more for products and services provided by companies that are committed to positive social and environmental impact.

Improve your reputation
Socially conscious businesses are dedicated to minimising harm, promoting sustainability and giving back to communities, so it is no surprise these businesses develop a positive reputation. Generally, businesses that commit to and support a meaningful cause develop a better image in their community and are more likely to win over customers.

Build better partnerships
Collaborating with other socially responsible businesses is a great way to increase your business’ exposure and increase community involvement. In addition, teaming up with other businesses and charities helps to strengthen ties and work towards achieving social goals (especially where funds or resources may be limited).