Category Archives: Accounting

Accounting

The Impact of Millennials in the Workplace

Study after study has been conducted on how employers can attract and retain Millennials and how they are changing the workplace. However, as a non-Millennial, specifically a Gen-Xer (ages 34 – 54), I began to examine the impact or effect that Millennials are having on non-Millennials in the workplace. The expectation that stands out the most to me is for rapid career progression. This was never more evident to me than when I was promoted to my current position within my organization.

I work in the financial services industry and have been with the same company for a little over 13 years. I was hired into the company through their Leadership Development Program, which is intended to put graduates of the program on the fast track to success. Although I have progressed very nicely in my career, there were times when I felt that my career was being stalled. However, I later realized that my career stalled because I did not take control of it.

When I first joined the bank, the only people I saw in the position in which I now serve were older or more mature men who had been with the bank for many years. Therefore, in my mind, it would take me years to naturally progress to that position. Once I was hired into the position almost two years ago, I was actually shocked to find that there were people in their twenties and early thirties in the position. My first reaction was that I could not believe that a company would entrust that level of authority to people so young and with such a lack of experience.

As Gen-Xers or Baby Boomers in the workplace, we have to make a decision as to whether we are going to resent Millennials for almost demanding that they are promoted quickly into Senior level positions or learn from them and position ourselves for rapid career progression, as well.

Millennials are definitely having a huge impact on the workforce. However, it is important that employers and managers manage the impact so that is does not negatively impact non-Millennials and the overall morale of the company.

Gynevella Michelle Ballard is an entrepreneur, author, and public speaker. Michelle’s topics include, personal and professional development, financial literacy, and keys to living life on purpose. She is also currently enrolled in the Masters of Entrepreneurship Degree Program at Western Carolina University.

Accounting, Advertising

What’s The Best Tool To Manage Inventory !!

The success and failure of a business can be determined by the efficacy of the stock management practices it employs. Certainly, poor stock control can lead to cash flow problems. In fact, this may even lead to a business collapse. It is for this reason that you must manage your stock levels very closely.

Generally, plenty of the assets of small businesses are tied up in inventory. A field service company’s inventory can include any raw materials, work in progress and finished products they have and intend to sell in order to gain income. Determining how much stock your business really needs is where inventory problems often begin.

The main goal of inventory management is quick turnaround, ensuring low costs and guaranteeing customer satisfaction. Due to the fact that inventory management directly influences cash flow, you need to have a solution that will make sure that you are indeed managing your inventory properly. So if you think that your current inventory systems are causing cash flow woes, it is time for you to implement a system that does all the management and monitoring for you. In other words, you must have an effective tool to manage inventory.

Important Considerations When Choosing The Best Inventory System

Stock and Cash – With plenty of inventory at hand, your cash will be tied up and cannot be used for other important business activities. With an inventory tracking solution in place, you will know exactly what you have on-hand and if there is a need to order for more. Efficient and proven management systems will incredibly increase your cash flow whereas poor management will cripple your business.

The Type of Stock – You need to have a system that monitor what is selling and what is not. Fast-moving stock and goods can bring in cash faster while slow-moving inventory can actually restrict your cash flow. Thus, it is very crucial for you to know this slow-moving stock and consider evaluating it again if it really needs to be in your warehouse.

The Level of Stock – This refers to the volume of inventory that you maintain on hand for sale. Today, managing your stock does not necessarily mean that you must stock more than enough inventory in your warehouse. You must have a system that efficiently monitors what you have on hand and notifies you if it is time to restock.

Accounting, Advertising, Careers Employment, Entrepreneurialism, Human Resources, Management, Marketing, Productivity, Risk Management, Sales, Small Business, Strategic Planning, Workplace Communication

Key Things You Must Do When Starting a Home Based Business

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With any business, financial freedom and wealth will not just appear overnight, one thing you must ask yourself when deciding to start a home based business is how you’re going to grow a new business venture to not only make money, but be financially free ? Whether you are a business involves selling products from your home, create products, offer services, write or reselling books online there are some things you actually do for a successful business. Do your homework Find a product or service you want to offer or if you can not think about the idea that there are thousands of ready-made companies out there, such as multi level marketing opportunitis. This is a normal product or products that the person or company will train you to sell it for a hand in return for a commission on the sale. Is your company fit your personality? Each one is different so choose a company that fits you. If you enjoy selling products to people you know one of his strong points then your home based business that involves contact with customers via telephone, email or in person can be the most suited to you. This could be in the Multi Level Marketing where you help others achieve financial freedom in their lives, selling products to the end customer, or business to business sales. If you do not talk to people much or are good with websites and thus the home based business promoting a product or service, such as Search Engine Optimisation or web design or marketing and selling products like books can be the best option for you as you have very little customer interaction. Look for many of the company’s market to get leads and use their own sales reps to close the deal, you get a commission for the sale. This allows you to concentrate on marketing and get more leads. Do your job diligently Now that you have your business and your 100% sure that you want to start time to get to work, working from home is nothing easier than working from the traditional environment, there are still challenges of running a business. To have a successful business you must stick to it. Set the time to start and finish the work day, do not stop watching the TV show in the afternoon just because your home does not have to be at home, at work. Create a business plan and set up goals for each day and set weekly goals that you work toward every day. It could be to get 5 more sales than the week before, whatever you want but keep it realistic. Find ways to promote your company or products, there are hundreds of the company that will promote your business or products but be careful as many are scams. Always looking for information on the company and use the company with a good reputation. Places like the warrior forum is a great place to find and discuss information. To keep your business financially stable When the first sales role do not be going out to paint the town red, determine your monthly expenses from materials down to paper clips. Once you have your monthly expenses you want to work to keep three months worth of expenses in your account to make sure no bills and other unexpected problems used to put your business back. Find ways to maximize the impact of start Word Press blogroll, add more content to your website to get more search engine traffic, start a You Tube channel to promote your business or add more products or services to get return customers. This will help ensure that you have a steady income with full time from the comfort of your home. Knowledge is king If your marketing eBook that was not written yourself then read it so that you are aware of all the details and quality of the product you’re selling. Knowing products will help you answer the questions people can ask and be important to write sales pages. If you provide a service to learn how to offer services with the best quality. You can also purchase a course that will help you learn or improve your skills. The more you know the more opportunities you have to sell in the long run. Follow these instructions and you’ll be on your way to start a home based business that will bring you pleasure and bring you closer every day to financial freedom.