7 Money Management Tips to Help You Improve Your Business Finance Management

The whole point of setting up a business is to earn some money with your ideas and innovations. However, nobody starts at the top, and success does not happen instantly. There will come a time when you can barely keep up with the business cash flow that you’d have to hire an accounting department and use expense management software as a requirement. But until then, you need to find ways to manage your money wisely to improve your business financial situation.

Why is Financial Management Important for Small Businesses?

The reason why small businesses need smart financial management is a no-brainer. You need to handle your company’s finances through careful planning to succeed. If you don’t handle your business finances properly, you might end up with much less than when you started.

Money management involves budgeting, setting goals, tracking expenses and income, and investing.

Contrary to what you may think, it is never too early to start using financial tools like expense management software and other accounting programs. They save time and keep the process efficient. Adding them to your process at a later time is an option too, you just need to look for a user-friendly expense management software to make your transition from manual methods to a more automated process.

Effective money management involves understanding your company’s cash flow. Effective financial management can avoid periods of negative cash flow and keep your business’s financial health in tip-top shape.

Ways to Improve Your Business Financial Situation with Money Management

Here are some money management tips to help you improve your business financial situation:

Keep track of your deadlines.

Running a business involves dealing with several bills for your operations. You need to make sure that you are on top of your deadlines to ensure that you don’t incur more expenses in the form of penalties. Keep track of your accounts payables, loan payments, credit card payments, electricity bill payments, etc.

You can record when your bills are due and set reminders so you don’t forget when you need to pay. You can also use expense management software that has notification or reminder features so that you will be reminded of your due dates.

Track expenses.

You’d be surprised how many small businesses fail to track their expenses initially. Especially involving smaller purchases like office supplies. However, recording each and every one of your expenditures is important to help you evaluate the value they bring to your business.

On top of that, you need a detailed report of your expenses for accurately filing your taxes. Expense report management software and digital financial tools can help you track your expenses better and export a complete report with just a few clicks on your computer.

Keep your business and personal funds separate.

It will be confusing to manage your finances when your business and personal funds are in the same place. Imagine if you need to look for a specific transaction record and check it against your account– since your business and personal funds are in one place, you will have to go through your personal financial records as well. This situation can result in disorganized records. You can also end up using personal funds for business vice versa. You will need to track business expenses separately if you want to be reimbursed in time for out-of-pocket expenses. 

Time your purchases wisely.

Do not make purchases before you have paid all your bills. You also need to make sure that you have enough funds to cover new expenses. Consider buying tax-deductible items like supplies before the end of the year so you can claim them on your tax return.

Budget.

Set expense limits and revenue goals. Having a budget or a financial plan will help you improve your business’s financial situation. Your budget will help you manage your funds better. It gives you the opportunity to allot funds or adjust allocations according to what the company needs at that time.

Budget plans play a part in forecasting your possible revenue. Having an idea of how much your revenue is allows you to find ways to cut expenses to increase income whenever necessary.

Check your inventories.

You should check your inventories to confirm if you truly need the items you are planning to purchase for the company. If you find that some items are just collecting dust in your storage room, then you should take them out of your list. Knowing what’s in your inventories will help you allocate your funds where you need them.

Evaluate if your ROI is worth the expenditures.

Compare your expenses to your ROI to see if you are investing your resources in the right things. You need to assess your strategy every once in a while to make sure that it is still working in your favor. If your expenditures are not paying off, then you need to cut back and see where you need improvements.

Bottomline

You can improve your business financial situation by being smart about your expenses and investments. You can take control of your finances by understanding your expenses. You need to understand when to push and when to cut back. 

Since understanding your expenses is one of the most important steps of managing your business finances, you may need to use smart expense software for a more efficient process. It will help you simplify the process by automating some steps and keeping your records organized. 

Author’s Bio

Danielle works with Fyle in changing expense management as we know it. She understands how overwhelming the process of tracking cost operations can be, which is why she is passionate about sharing tips, news, and information on how to simplify expense management. Danielle shares information based on her experience with Fyle– and expense management software that helps streamline and automate the pre-accounting process.

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How to Build a Loyal Customer Base for Your Company in 7 Steps?

Anyone who has worked in marketing knows that acquiring a new customer is more expensive than keeping an existing one. Recurring customers will earn more money than huge, one-time clients. In addition, consumers that are devoted to your business are more likely to spread the word about your services, which increases your revenue. As a result, building a strong client base should be at the top of the priority list for any company. Nowadays, companies are highly dependent on various channels for their growth. Businesses can promote themselves through stunning promotional posters, engaging content on their social media platforms, attention-grabbing email campaigns, attractive graphics, and much more. All of which help them to retain customers and enhance their brand positioning.

Here we will let you go through seven ways to cultivate a devoted consumer base for your brand.

1. Customer Satisfaction Is A Priority

The fact that people remember a bad experience is clear. However, they also retain once they have a fantastic experience. To increase your customer base and keep them coming back, you need to provide a great customer experience. The journey of success begins with how you present your business.

First impressions are critical to the customer’s experience with your company. Is there a timely response to emails or calls? Is the customer satisfied with the answers they receive? How welcoming are the employees? How easy is it for online customers to find and complete a transaction on your website? How long do customers wait in line at a retail store? After-sale service is essential. Is the response time to a customer’s complaint quick? How straightforward is the refund policy? Do you take their input seriously? These are all simple things that can have a big impact on your customer’s experience.

Customer Satisfaction Is A Priority

2. Offer A Lot Of Value For Your Money

Because of the exceptional value you provide, your customers must have no incentive to switch elsewhere. While one consumer may place a high value on the right product or service, another may value the ease of use it provides. Your customers will continue to purchase from you if you can provide outstanding value all around and solve a major pain point for them.

Offer A Lot Of Value For Your Money

3. Continue to Provide Them With a Good Opportunity

Your customer’s attention may be diverted to your competition even if you provide exceptional service and excellent value. However, if you send frequent lead nurturing emails to remind them of your product or service, you’ll be able to establish a local customer base and keep them engaged. Not every day, but once per week, write an email that they consider useful or interesting but don’t try to sell to them. The purpose of these emails is to keep your customers engaged with your business, not to close another sale immediately. You’ll scare them away if you try too strongly for a repeat sale. The PosterMyWall has a unique feature of running successful email campaigns.

Continue to Provide Them With a Good Opportunity

4. Learn To Give Back To The Community

By offering something back to your customers, you can show them that you appreciate their business and establish a strong client base. You can accomplish this by offering a discount, inviting your most loyal clients to an exclusive event, or setting up a loyalty card program. Your loyal clients will feel valued, and it will encourage them to continue with your brand if you thank them for their loyalty without asking for anything in return.

Learn To Give Back To The Community

5. Respond Quickly To The Issues

Having a terrible experience with a customer may wreak havoc on your business’s reputation and undo all the work and effort you’ve put into making your customers happy. Although we all have our share of missteps, it’s how we deal with them that matters. Make amends if your customer isn’t completely content with your goods or service and do everything you can to fix it. Most customers are forgiving and will appreciate your efforts to fix the problem.

6. Consistency Is Key

It’s impossible to overestimate the value of maintaining a consistent approach in business. Customer loyalty is built over time, not by a one-time good deed that may or may not be memorable. Consistently good service is the key to building a loyal consumer base.

Consistency Is Key

7. Continually Check-in

If you want to establish a loyal customer base, your service shouldn’t halt instantly once the transaction is completed. A week after a customer buys from you, check in to see if they are happy with the goods or if you can assist them in any way. To demonstrate that you value their input, ask for their feedback. It only takes one fast phone call to separate one-time customers from long-term ones!

Continually Check-in

So, there you have it: seven ways to cultivate a devoted following of customers. Developing a following of loyal customers can help your business continue to grow and earn new customers regularly.

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Top 8 Tips For Marketing A New Product

Introducing the market to your new product or idea can be both nerve-wracking and exciting. You need to trust that your market and consumer research was accurate and that you have identified a reasonable need, demand or trend that justifies the arrival of your new product on the scene.

However, your research does not end there: you will also need to commit to marketing the product in the right way in order to attract your target audience. To do so, you will need a map with clear pathways drawn up in advance.

Here are some of the top 7 tips you may wish to follow when it comes to marketing a new product.

1) Create an animation video to promote the product

Finally, one of the best ways to market a new product is to create an animation video.

Research suggests video on landing pages can increase conversion rates by as high as 80%, while even a simple mention of ‘video’ in your email marketing campaigns increases the open rate by 19%.

As high as 90% of consumers also claim video helps them to make buying decisions – it is clearly a no-brainer when it comes to getting your brand off the ground.

This technique is incredibly versatile, allowing you to use the video almost anywhere and everywhere to pool in new customers and retain loyal ones. And the best thing about video? It’s in reach for all businesses, both large and small, no matter the budget.

If you’re interested in animation video then explore motion graphics via a motion graphic agency too to get the full video effect. Find out more about what is motion graphic design here.

2) Influencer marketing 

The rise of social media shows no signs of falling down any time soon. Indeed, social media influencers continue to evolve with each new platform, and this lucrative career is expected to reach $13.8 billion in value worldwide by next year.

The premise involves a social media ‘star’ simply endorsing your product to their followers in the form of a post or video. These influencers often dedicate their entire time to building a reputable empire under their name, and they are so well trusted by their followers that they are often seen as experts within their particular niche. 

It is undoubtedly a solid investment with recent research finding almost 90% of marketers claiming the ROI on influencer marketing is better, or at least comparable, to other marketing channels.

3) Follow a product scarcity model 

Marketing your product as limited edition, as scarce in supply, or as ‘running out of stock’ can significantly hike attention and sales.

Every business owner dreams of creating hype around their brand, and this tactic is one way to do so. By suggesting that your product is already so popular that your inventory has taken a dramatic hit, you’re tapping directly into consumers’ psychology and our innate buying impulses. 

Most people hate the thought of missing out, especially if it is advertised at a bargain price or with an introductory offer – the fear of missing out on a bargain only compels consumers to buy sooner, too.

By creating a sense of urgency around your product, you’ll easily create the hype you’ve always wanted. In fact, this initiative is so successful that Apple, Nintendo, and Amazon have all tried this trick to some degree, and probably will do it again in the future.

4) Create and offer useful content 

Providing consumers with informative content is another generous tactic that involves little effort.

Blogging is relatively inexpensive with some platforms even providing you with a space for free.

Still, this technique is ideal when it comes to marketing your services and products while positioning yourself as an industry expert. A blog on your website to accompany your products is a great way to rank for your keywords, too.

With as little as 54 blog posts, SEOs estimate you can drive 30% more traffic to your website, in turn boosting rankings, generating leads, and ramping up sales.

5) Build a social media presence 

Building a social media presence doesn’t have to be difficult or break the bank. Consider, for example, posting a weekly update or an hour per week to engage with like-minded companies. If you’ve started your blog, use social media to share your ideas.

The key to remember here is that you should tap into the platforms that your target demographic is using. 

6) Establish an email newsletter

Entering the world of email marketing can be daunting, but it doesn’t need to be.

With a simple subscription model on your website, consumers can sign up to your newsletter themselves. And with a short weekly or bi-weekly newsletter, you can continue to touch base with your existing customers and keep a constant chain of connections for future events and product launches.

7) Run email marketing campaigns

Similar to email newsletters, email marketing campaigns can significantly help bolster your brand awareness.

By reaching out to industry-related sites, you can offer guest posts with the hope that your article will be published with a do-follow link back to your website or product. Having your company name published out there is not only beneficial for SEO, but for raising trustworthiness and building a solid reputation.

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5 Video Streaming Ideas for Modern Businesses

In recent years, video streaming has exploded into the mainstream and infiltrated a growing number of industries and sectors. In doing so, it has been adopted by modern businesses in several ways and triggered a series of wide-reaching benefits in the process. If you are considering capitalizing on video streaming for your business but don’t know where to begin, continue reading to find out everything you need to know. 

  • To deliver live demos 

In order to provide your customers with a well-rounded view of a particular good or service, video streaming can be a great way to deliver live demos to their screens as they relax from the comfort of their own homes. If a specific product has performed well on a long-term basis, for example, it may be worth delivering a live demo to give interested consumers and loyal customers alike a walk-through of what it entails. It can also allow you to interact and engage with your audience in real-time and answer any questions they may have in a matter of seconds. 

  • To entertain your followers

If you like to communicate with your customers on a regular basis, video streaming can be a great way to entertain your followers. If you are only experimenting with the idea of video streaming, for example, this can be done with a quick video filmed on a smartphone. If you are committed to delivering a first-class service to your customers, on the other half, it may be worth investing in OTT services from a reputable provider to cater to their interests and thrust your business to new heights. 

  • To announce product launches 

If you announce product launches on a regular basis, video streaming can be a great way to involve your followers from start to finish and encourage them to find out more. If you are unfamiliar with video streaming, this can allow you to get to grips with the technology used and interact with your followers in an informal way whilst building your skills and experience at the same time. It may seem like a cheap trick, but you will be surprised at how many sales can occur as a result. 

  • To provide a behind the scenes sneak peek 

If you like to tease your followers on social media, video streaming can be a fun way to provide a behind-the-scenes sneak peek at what goes on behind the lens. If a customer has been promised exclusive access to something they are unlikely to witness again, they are more likely to be interested in what you have to say and head to your website to find out more. It may not sound interesting to you, but these types of videos can attract hundreds, and even thousands, of interested viewers in a matter of minutes.

  • To host regularly scheduled Q&As 

In today’s digital landscape, consumers value transparency and regularly scheduled content. This is why regularly scheduled Q&As have exploded in popularity in recent years and have emerged as a great way to communicate with your followers on a personal level. In doing so at the same day and time each week, you are also far more likely to grow your following and viewership over time.

If you are interested in tapping into the wide-reaching benefits of video streaming for your business but don’t know where to begin, it may be worth familiarizing yourself with a number of ideas. It can, for example, be used to deliver live demos, entertain your followers, announce product launches, provide a behind-the-scenes sneak peek, and host regularly scheduled Q&As. 

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A Feeling Of Home Away From Home With Lovelocal

Rachel had recently finished her second term of Business Administration in Marketing and had gotten herself an internship for six months with a leading MNC in Bengaluru. She was eager to start working and learning the tricks of the trade as soon as she set foot on the Kempegowda International Airport in Bengaluru. Determined to focus on the new job and the responsibilities that came along with it, she had decided to come a week prior to when she would have to start work so that she could settle in her PG residence. During her last visit to Bengaluru, she and her batchmate (and now workmate) Priya had finalized a small 2-BHK extension on the first floor of a bungalow. The owner of the house, Mrs. Shankar, was an old lady who lived alone on the ground floor with her pet dog and cat. Rachel needed company in this city and Priya was more than happy to live together with her. As they entered the corporate world for their internship tenure, it would be great to have someone to share their woes and happiness with, in addition to of course sharing the rent and other expenses. Anyway, it was a matter of six months, after which they would know if they would be placed elsewhere or asked to continue.

Fast Food Delivery

Rachel was not familiar with Bengaluru or the area she lived in. Neither was the language familiar. Born and brought up in a small town in Goa, Rachel had always been the most spirited of her 3 siblings. Upon reaching Shankar aunty’s bungalow, Rachel helped herself to the first floor which was going to be home for the next 6 months. The first floor had a separate entrance as well as a separate kitchen and living room. It was as good as an independent home. The next few hours went in cleaning up and unpacking. Rachel always liked to be in control of things. She wanted to make herself a nice cup of warm coffee but the kitchen upstairs wasn’t yet stocked up. She didn’t want to bother Shankar aunty as she knew aunty rested in the afternoon for some time.

online-grocery

Image Resource: gqindia.com

Rachel started browsing the internet to see what she could find close to her place. LoveLocal appeared as one of the top sites for online grocery in Bangalore where she could get everything from groceries, medicines, vegetables to bakeries and what not. She decided to stock up, not just on tea, coffee, and milk, but also on other groceries, so that she could have an operational kitchen before Priya joined her two days later.

Final Words

LoveLocal listed out all the stores in and around her location. The best part was the free home delivery or shop pickup, whichever Rachel preferred. Rachel could also explore all the neighborhood deals and offers. In spite of being new to the city, Rachel felt at home within a few hours of coming here. It was as if it was a second home away from home, thanks to LoveLocal. Soon, there were familiar smells of home-cooked food wafting in the air. Rachel made a Goan curry with rice, a special treat for Shankar aunty as well.

 

The following day, Priya, reached Bengaluru and was welcomed with a simple home-cooked meal prepared by Rachel, with love.

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How To Balance Retail Technology And The Human Touch To Offer A Great Customer Experience

Retailers are opening up to technology and they are adopting it at a faster pace. However, as retail technology is taking up space in stores and online, retailers can’t forget about the human touch. The employees are a big part of the whole business and without them, customers can’t receive the whole shopping experience. 

As more stores offer self-services, retailers should find the right way to balance the human touch with retail tech. That’s why in this article you will learn more about how to find that balance and how you can train your employees to offer an amazing shopping experience.

How can retail tech help elevate customer experience?

Technology is shaping the future of retail and it comes with many benefits for both retailers and brands. But how does technology impact customer experience? 

More convenient

Convenience is key in retail. If people have to struggle to buy a product from your store or to order it from your platform, then they will leave to your competition. Convenience doesn’t mean making great changes. You can start with smaller ones. 

For example, self-checkout is one of the best uses of technology in-store. Everybody hates standing in line just to pay for their groceries. With a self-checkout option, people who are in a hurry can go, scan their products, and pay for them in a matter of seconds. 

More entertaining

Retail technology can make the shopping experience much more entertaining. For instance, brand activation solutions like Tokinomo can help you engage with your customers and make them purchase more. With the help of Tokinomo, products can promote themselves. 

People are definitely going to be amazed and entertained when they hear a bag of flour talking to them. 

More pleasant

Shoppers come into the store because they want to have the whole shopping experience. In-store, customers can see, smell, touch, and compare products. They also come to the store for the atmosphere. The gentle music playing in the background, the smell of baked goods, and the perfectly lined products on the shelves. All of these play an important role. 

With the help of retail robots like Millie, retailers can make sure that the aisles are always clean and the store is hazard-free. Millie spots leaks, spills, and any other hazards and solves the problem without even alerting the staff. 

How to balance retail tech with the human touch

Yes, technology in-store is a must nowadays. However, it needs to be balanced with the human touch because people come into the store to interact with other people, not with technology. Having the right staff can help you elevate the shopping experience. 

As Shep Hyken says, employees have an awesome responsibility. The way they act is the way shoppers are going to perceive that brand. For example, if your employees are super helpful and always try to provide the best service, customers will come back to the store because of that attitude, not because of the big discounts.

Train your employees

First, work with your employees and show them how you want your store to be perceived by customers. Explain what type of customer service they should offer and how involved or not they should be. Some stores offer assistance, while others leave the customer to shop at their own pace.

Also, employees shouldn’t fear technology, they should embrace it. Teach your employees how to use retail tech so that they can then help customers learn how to use it. 

Combine retail technology with human interaction

Even for self-checkout, you should have an employee there who can help shoppers in case they don’t know how to use it or if they simply need assistance. While you might have a customer service robot, you should also make sure that you have staff who can help customers with additional information. 

Tell your staff that tech is not there to replace them, it’s there to increase their productivity, help them get rid of boring or difficult tasks, and enhance the customer experience. 

Use tech and employees for the right tasks

It is better to use technology for boring, repetitive, and demanding tasks. When it comes to customer support, customer service, or anything revolving around the human connection, you should leave it to the employees. They can offer information, guide people, and give insights that retail tech can’t. 

Adopting technology shouldn’t be a scary process for your employees, it should make them feel more empowered, productive. Also, it is going to show them that they are needed for more important tasks. Technology should come as an addition to the great service provided by retail employees. 

Author bio: 

author-photo

Nicoleta Niculescu is a Content Marketing Specialist at Tokinomo, the ultimate brand activation solution for retailers and consumer goods brands. Tokinomo advertising robots bring CPG products to life on the shelf and lift sales by an average of 200%.

How To Score 99% Marks In Class 12 Physics?

It is obvious that everyone aspires to score well in their class 12 board exams but maximum students lag behind due to a lack of strategic planning for the CBSE class 12 Physics exam. You must know by now that Physics is extremely important but is also equally tricky. However, with sound techniques and planning, you can be confident that it is not that difficult to score excellent marks in your exam. It is crucial to have an understanding based on concepts as well as logical solving ability. Theoretical know-how, visualization of topics, along the practical application of knowledge is fundamental. 

Much like every other subject, Physics also demands you to understand the basic ideas from the entire syllabus as prescribed by CBSE along with the in-detail analysis of some chapters that will be crucial for the board exam. Through this article, we will be discussing a few tips with the help of which you can be the best in the class 12 Physics exam.

Using the NCERT book

  • If you think you are weak or uncomfortable with Mathematics, you might want to study Modern Physics first. Semiconductors is from the group of the most crucial chapters from the exam point of view. Its weightage is approximately 8 marks. Similarly, the concepts on Atoms and Nuclei make up 6 marks.
  • Next, you have to take up Dual Nature of Radiation, because it carries 4 marks. Then, the Communication System which carries 3 marks. With a good grasp of these chapters, you can comfortably score high marks in your class 12 boards.
  • Once that is done, you have to move on to difficult yet important chapters such as Optics, constituting 14 marks of the exam. In this chapter, it’s a good idea to complete Ray optics as a first step, because it is comparatively simpler. In Wave Optics, you have to focus on the problems with concepts of Interference, Diffraction, as well as Young’s experiment.
  • Current and Electricity is fairly easy and also carries a strong weightage of 7 marks.
  • Make sure to study Electrostatics and Magnetism because these chapters are extremely important for competitive exams like JEE.
  • EMI is also a unit that requires a lot of concentration to get a high score. It is important for not only your 12th boards but also the competitive exams.
  • Practice drawing and labelling the ray diagram as well as other diagrams very carefully. Drawing as you study will help you to understand the topics faster and you will remember them longer.
  • Never ignore the objectives. Always solve objective type questions to be absolutely sure that you can score full marks in the 1 mark problems in your exam.

How to Prepare?

  1. Read and reread the NCERT class 12 book for Physics as thoroughly as possible. It is the compulsory Holy book for your Physics board exam in Class 12. Note that every topic in your syllabus has been appropriately covered in the chapters of the NCERT book.

2.Create an exhaustive list of derivations, formulas, as well as experiments in the syllabus. Always have this list handy for the exams.

  1. As you are solving any given derivation, try to understand the logic that drives the derivations. If you comprehend a derivation it will allow you to derive it at all times.
  2. Revise every previously studied concept regularly.
  3. In case you are not comfortable with the numerical problems, it’s best to start as early as possible. You have to get accustomed to the numerical as well. The best technique is solving every single numerical in the NCERT book, the solved examples as well as unsolved exercise questions. Physics papers will obviously have numerical sums so you cannot escape it.
  4. Remember all the S.I units for every physical entity.
  5. Once you have finished the whole syllabus, solve the questions from CBSE sample papers of Physics in by setting a timer to check how much time you are taking.

For the Best Score

  • When you write the exam, try to put down the descriptive answers pointwise. Try to give pictorial and/or graphical representations when and if possible. This will enhance your visibility.
  • For the long answers. Before you begin, jot down a point-to-point skeleton of the answer on the margin.
  • Be precise for the very short answers and objective type questions.

A few more tips for the Best Score

  • Always refer to your NCERT book for Physics before moving on to any other source. Without any doubt, it is the top priority book for the Class 12 board exam. All the topics prescribed in the syllabus for your exam have been covered properly here.
  • It’s a good idea to prepare a complete list of all formulae in order to revise it multiple times. This will, in progression, allow you to solve all the numerical problems with effectiveness as well as speed.
  • Solving the previous year’s question papers is a good tactic since it will lend you a significant idea of your actual exam. Once you finish your whole syllabus through and through, solve the model questions from the CBSE sample papers by setting a timer to check your speed and accuracy. This is also going to help you in practicing writing while you are yourself.
  • Providing diagrams or graphical representations will fetch you better points. Make it a point to read your question paper from beginning to end before answering. Prior to starting, chalk out a rough frame of your answer along the margin for the long answers. Only write down precisely what is asked for a crisp and accurate answer.
  • Practice ray diagrams along with all other diagrams with care and concentration because they are very important in order to score good marks. Drawing as you studying will also help you to clear out a few complex concepts faster easier

With these tips, you are sure to score 99% marks in your class 12 Physics board exams.

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When to Hire a Lawyer: Top 3 Situations

There are many situations you may encounter in your lifetime which may require the help of a lawyer. To help you avoid the difficulties of figuring out which situations these are, we’ve compiled a list of the top three situations you may experience sometime in your life that may be better handled with the assistance of a lawyer.

If you are wrongfully terminated from your workplace

Unfortunately, there may be a time in your life where you experience an unfair dismissal from your employment. If this is a matter which can incur you significant losses and you feel that your termination is unjust, you may consider making a claim for unfair dismissal.

A lawyer can help you do this by assessing the conduct of your employer and pursuing a claim on your behalf. By doing so, a lawyer can also help remove the blemish from your career portfolio while getting an outcome that is favorable for you.

Lawyers experienced in handling work-related disputes will know how to protect your rights and provide you with professional advice regarding your circumstances. Although every wrongful termination case is unique, there are certain formulas lawyers can apply to determine whether the case is strong enough to pursue. In the case that yours is, lawyers can also help you bring the claim to the Fair Work Commission or the relevant State Industrial Relations Commission for evaluation. 

If you are starting your own business

There are many things a lawyer can help you with if you are starting your own business. It can be stressful to start a business by yourself (especially if you are unaware of your legal obligations) so an experienced lawyer can definitely help in providing some grounding for you. 

Lawyers can help you start your business by:

  • Registering your business name with you
  • Assisting you with deciding on a suitable business structure (for example, sole trader, company, partnership, or trust)
  • Registering trademarks for your intellectual property and assets.

Trademarking in particular is an important task lawyer can help you with, as they effectively protect your intellectual property and assets from misuse or as subjects of plagiarism. Making sure your business names, designs, artworks, products, and artworks are protected and trademarked will help your business find footing in the industry and set you off for a secure start.

When you are drafting your own will

Unfortunately, there comes a time where you will need to prepare your own will to detail the sharing of your assets once you pass. Your will is an important, legally binding document that explains how you want your assets to be shared, to whom you want your assets to be shared, as well as any plans you may have for your funeral. Depending on whether you have young children, your will may also outline who will be their primary caretaker.

Due to your will being such an important document, it needs to be structured correctly and drafted according to government regulations. As a result, it is always best to work with a lawyer or a public trustee so that they can draft your will correctly for you. They can also make updates to your will in the event that your circumstances change. 

Remember to hire a lawyer

Be sure to remember the above three situations and how a lawyer can help should you ever experience them! Wrongful workplace termination, starting your own business, and drafting your will are three of the most important situations which a lawyer may help with.

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How to Make the Most Out of Your Salon Space

Do you need to maximize the space you have in your salon? Whether your salon is located in a salon suite or a smaller space, it’s critical for you and your people to know how you can make the most of the area to maximize your business and revenue potential.

Luckily, for even the smallest of spaces, there are many design and decor hacks that you can apply to your salon to breathe new life into the look and feel, as well as give you more room.

Even if you have all the space in the world — lucky you — you can certainly apply these techniques to give your salon that sought-after open floor concept.

S​​ource: Minerva Beauty

Moving In? Size Up Your Salon’s Square Footage First

If you’re moving into a new salon that’s smaller than you anticipated and you’re wondering just how you will fit everything into it, calculate the size of your salon and the room you need to fit the equipment you want. How do you do that? You will need to take the square footage of your salon and divide it by 175. Why 175? Well, 175 sq. ft. is the average space each stylist will need in order to do their job comfortably. This will give you a great idea of how much equipment you can fit into your salon layout without it feeling too cramped. You will also be able to realize opportunities for fun things like decor once you tackle the necessities. You can design your salon with this free floor plan creator!

Space-Saving Salon Hacks

Now that you have done the hard math and you have an idea of how your salon layout will look, let’s explore some ways to open up your salon and give you more space.

  • Invest in Double-Sided Salon Stations – Your clients and stylists will be spending the majority of their time at your salon stations, and to keep business growing, you can’t cut back in this area. However, what you can do is invest in double-sided salon stations. Not only will this maximize the potential appointments you can book, but it doubles your capacity while also saving space. You will want to place these salon stations in the middle of your salon so that your stylists and clients have room to move comfortably.

Source: Minerva Beauty

  • Leverage Wall Storage – When you are operating in a small salon, finding places for organized and neat storage can be difficult. We highly recommend leveraging wall shelves as storage for products, towels, supplies and more. Since these wall shelves aren’t hidden away in a storage cabinet, they will need to be cleaned and organized regularly so that they look neat. Using wall shelves also allows you to free up floor space so that your stylists can use portable salon carts to carry their products and tools.
  • Portable Equipment Can Provide More Flexibility – Sometimes, in smaller spaces, portability is a huge advantage for salon owners, managers and stylists. Being able to easily move equipment can open up the space and allow you to change the layout to accommodate business growth and other opportunities. Using a portable shampoo bowl, for example, is not only extremely convenient for the client, but it’s also a huge space-saving technique. In addition, pairing a portable shampoo bowl with a reclining all-purpose chair can help save space by having one chair to use for everything.
  • Keep Decor Minimal – In any salon space, it can be tempting to want to add extravagant decorations or cute touches like a glam couch or chic and modern floor shelves. In a small salon, though, it’s best to keep decor to a minimum so that you can maximize your wall and floor space. We also believe that small salons should still have an overall look and aesthetic. With that in mind, when you’re decorating, choose things that don’t eat up precious space. For example, a neon wall sign makes quite the statement but doesn’t limit your space-saving opportunities. Besides, the minimalist aesthetic and salon are totally trendy right now.
  • Don’t Skimp on the Retail, Reception and Waiting Areas – If you are looking for ways to add more space to your salon, your first thought may be to make the waiting area or reception and retail space much smaller. However, we advise against doing this. Not only does the retail, reception and waiting area serve as the first impression of your salon, but it’s also a place you want your clients to feel comfortable sitting in. You also want to make sure you are giving yourself prime space to sell retail products, which can stand to positively impact your business. The use of wall shelves to show off retail products is a great use of space. You should also have a receptionist desk that looks great and feels comfortable for your people. You can also finish off your waiting area with a chic loveseat.

Source: Minerva Beauty

  • Open the Space Up with Bright, White Paint and Mirrors – Just because your salon space is small doesn’t mean that it has to feel small and claustrophobic. A few ways you can instantly brighten up the space and make it appear more spacious and open is by applying a fresh coat of white paint to the walls. White will breathe new life into your salon and make it appear more open. You can also add floor mirrors or wall-mounted mirrors to the space to bring in more light and make the space feel larger.
  • Stagger Appointment Times – One way you can optimize your salon’s space on the scheduling aspect of things is to have a staggered booking set up. This way, clients can be spread out among the salon for different services. Staggered appointments can minimize the frustration and discomfort your guests and stylists may experience in a tight space.

Are you ready to give your space a facelift and a new look and feel? We hope these space-saving strategies lead you and your stylists to the salon space you need.

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