Looking to the Future: Preparing Your Business For Success or Failure


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According to statistics gathered by the US Small Business Administration, only about half of all small businesses survive past the five-year mark, while just about one-third will make it to their 10th anniversary. Those who fall behind can fail for a number of different reasons, but in many cases, a simple lack of preparation is to blame.

With the right planning, funding, and flexibility, your business can beat the odds and be one of those that succeed in the long run. So, in this article, we’ll go through how you can financially prepare your business for sustaining success or ably managing failure.

Preparing for Success
The first thing you have to do to make sure your business is prepared for success is to have a skilled finance manager with experience in business management within your team.

Aside from analyzing sales and cash flow, Chron shares that a skilled finance manager can help executives in making big financial decisions, while projecting future spending and earning. To enhance the key economic aspects of your business and monitor your business’ health, you should conduct regular analyses of financial ratios and statements with your finance manager. This will give your business a balanced financial structure that will enable you to map out your financial future, and grow with it.

This is very important because when your business is growing, it’s easy to think that everything is going well and will continue to do so in the foreseeable future. Those who aren’t mindful about the dynamics of their cash flow will fall into a trap, and may even fail to sustain the business’ growth even in the short-term. So, make regular projections based on accurate analyses with your finance manager, to make sure that you know how much money or credit you’ll need well before you have to start writing checks as your company grows.

Preparing for Failure
When it comes to business, you do not only plan or prepare for growth, you need also consider possible undesirable situations — such as sales falling flat compared to projections, unfortunate failures in your production floor, or even simply bad management. Only by doing this can you anticipate any challenges ahead and prepare for them financially.

When it comes to preparing for dire situations, this post entitled ‘Emergency Fund: What it is and How to Build One’ by Marcus points out that you should keep a fund for accidents and urgent crises separate from your regular accounts. Be sure that you have quick access to your emergency fund if (or when) you’ll ever need it to cushion an organizational fall. And when it comes to building the fund itself, you can save for it in small amounts over time, as we all know a little can go a long way.

When your business is met with financial problems, you’re not supposed to just immediately dip into your emergency fund or worse, give up and call it a day. As we’ve previously shared in our post on ‘How to Overcome Financial Problems’, there are several ways in which you could fund your company, such as through venture capital or bank loans.

Whether it is for the success or failure of your business, you should always prepare for all possible outcomes regardless of what’s expected. Doing so will enable you to respond more efficiently and effectively to whatever the future holds for your business and its finances.

5 Benefits of CRM Platforms for Realtors and Agents


Before we understand the concept of and need for Realtor CRM, let us understand CRM in general. In the world of marketing, communication is the key element that drives engagement and helps you build reach. A key element in the marketing and communications gamut would include a CRM system that has been created for the following reasons:

To store data in one place
To manage all information and data pertaining to customer interactions
To generate and nurture leads
To create a software that is data driven
To manage sales and other workflow processes through the software
To help in sales acceleration
To support marketing automation
To streamline the overall efforts of the various sales, service and marketing teams
To bring down the cost of production
To increase the output and revenue quantum

With such ends in mind, it comes as no surprise that CRM or Customer Relations Management software and systems are one of the most important means or tools to be used by businesses of any and every size.

The Real Estate CRM Reality
Real Estate CRM is of great importance in this day and age. With the digitization of marketing and customer interaction efforts, there has been an amplification of communication signals as well as the opportunities generated by said signals. From multiple platforms to multiple campaigns and a varied audience base, there are a large number of opportunities that businesses must tap into so as to make all the right noises in the right paces for the right results. But time is of the essence here, since competition has also proportionately increased and amplified with all these new digital realties surrounding businesses.

In such a scenario, real estate is one that niche that has seen a growth in the number of opportunities which makes it even more important to have a CRM system that fits the bill and the need of the hour. Here are 5 benefits that realtors and agents can reap from the adoption of a well charted CRM system:

Customized Reach and Service: When you turn to CRM for real estate, you get to customize your communication and interactions as per the varied projects that you would like to promote. This helps you spread your efforts over a wider audience within that time frame. In turn, it reduces time spent on driving engagement towards a single campaign and also helps you promote a number of projects simultaneously. Understanding your customers becomes that much more easier since you are now tapping into all your customer information for varied properties and projects from the same place. This helps you customize your communication so that it becomes easier for your potential buyer to find the home or property of his or her choice that much faster and more efficiently – which also makes realtors and agents look that much more efficient.

Unified Approach: With CRM for real estate, you get to tap into the data for the multiple campaigns and properties from the same place where all the information and the data is stored. This makes your efforts unified and more organized which in turn helps you take stock of the said efforts in a better and more relevant manner so that you can measure the goals and your achievements accordingly. With this unified approach, you also get to understand the needs of the customers and bring in the right properties for the right buyers without wasting their time or yours.

Greater Likelihood of Closing a Sale: From the above two points, one thing has become clear – building and using a realtor CRM helps in reducing the time spent in campaigning for individual properties and matching the right property with the right property since all you have to do is tap into the data that has been stored in one unified field, as mentioned above. The real implication of this comes in the rise of the sales figures since such an organized and efficient method of presenting and communicating with prospects and customers helps the realtor in finding a greater success rate when it comes to closing the deal. You can find a greater likelihood of making a sale and closing the deal with an organized effort which also puts your customer at ease and helps you come across as a more professional brand.

Cultivating Future Customers:
In real estate, the trick is not to just make a sale at a single point or once. You have to put yourself in a position where the customer will remember you as and when an upgrade is required or when they have to make a recommendation to a friend, a colleague or a family member. When you manage your time better and up your productivity game with realtor CRM, you are also putting out a pretty strong message about your brand – one that the customer will not forget in a hurry when it is time for an upgrade to accommodate a growing family, or making a recommendation to someone who wants to go into escrow.

Stand Out in the Marketplace: When you are using real estate CRM, you are essentially taking all the steps to ensure that you face your competition straight in the eye so that you stand out and stand tall. The CRM strategy and automation along with the data management from one centralized location is something that will help you tap into opportunities faster and with more frequency than most of your competitors since it frees up the time for you to reach more people with much more efficacy within less time. In order to become more competitive, it is important for realtors and agents to consider creating a CRM system that will record and process all the data for proper communication and interactions from one unified place.

In order to maximize this effort, we would also suggest the merging of real estate CRM with marketing automation so that you can schedule and process all your communication with your interactions for multiple platforms within the sales and marketing gamut.

10 Reasons Why You Should Move to Cloud Accounting


Easy accessibility, sharable features, and secure storage are the keywords of a steadfast operational infrastructure in any business. Cloud Accounting software became an instant hit and the choice of thousands of global firms just after its inception. Apart from these features, cloud storage ensures, you can enjoy easy migration facilities in the future. Well, traditional storage systems are on the decline, as cloud accounting software brings you a multiplicity of features. If you are still managing your storage system with the old and cost-intensive devices, it’s time to incorporate the change.

Following are the ten key benefits of shifting to the cloud accounting system.

Security of data
Irrespective of the nature of business, you cannot sacrifice the security of your data. Today, the digitized infrastructure calls for optimum security of data. Physical storage devices are susceptible to physical damage, damage caused by water or malware. When accurately deployed, Accounting software based on cloud systems can keep your storage system secure from all these threats. You need not go for manual backups across multiple storage devices. Thus, it saves productive time of your business.

Cost-management
Traditionally, companies use large storage facilities like hard disks and compact disks, besides other storage devices. These devices cost a lot, and you need to buy them even if you don’t need the complete space. On the other hand, cloud storage systems are easy to use and cost-effective in nature. You can purchase virtual storage across the available platforms and pay only for the required storage space. You can enjoy a better control over your financial resources.

Accuracy
The manual storage process is not only tedious, but prone to human errors. When you store your files in the physical storage devices, you lack accuracy. Over the time, a number of junk files and duplicated copies occupy your storage space. You can maintain better accuracy when you shift to online databases. It becomes convenient for your employees to sort and locate the files. It features easy data-organization and ensures a seamless storage mechanism.

Collaborative system
In manual storage systems, it is not possible for multiple professionals to view the files or documents simultaneously. You need to store the files in separate drives or carry duplicated copies. However, cloud Accounting software enables you to use the files from multiple locations. Several multinational companies, or companies with offices in different locations can collaborate using this technology. They can synchronize in a better way, they can access the same document from different locations instantaneously.

Simple integration
One of the best features of cloud accounting systems is that it offers simple integration features with other software. You can install add-ons on these storage systems. For instance, accounting becomes easier when you install a payroll management add-on or tool on your cloud system. It makes the operations simple and swift. Companies are increasingly switching over to cloud storage systems to enjoy this flexibility. You can integrate all data assessment tools on the same platform.

Increased efficiency
No company would like to spend its productive time on a complicated storage management issues. In Accounting software based on cloud storage, the data is updated to the existing storage in quick time. Moreover, there are no time-consuming installation and updating processes involved. Seamless operations indicate that you save a lot of your productive time and effort. You can mobilize your resources in a better way and the productivity of your company is likely to shoot up.

Flexibility
Well, you do not necessarily need to be in your office in order to access the cloud storage system. Your employees can access the files and documents from any possible location. You can use the files while travelling, when you are at home and from anywhere you have access to internet. At times, you may need the documents when you are not carrying a physical storage device. In these cases, you can simply download them from the cloud system.

Free updates
From time to time, the cloud storage system has to be updated to retain the latest features. However, most of the systems come with auto-update features. You need not deal with any complicated technical aspect when you update them. Moreover, these are free updates where you do not have to pay any charge to the provider. It delivers all-round benefits to your operational infrastructure.

Better navigation
Cloud storage systems have better interfaces and navigation features. Anyone can use this storage mechanism, as it comes with a straightforward navigation system. With intuitive buttons, you can use the dashboard easily. It also saves time for your business as your employees face no hassle in locating the buttons or searching the files. They can make whatever changes required in the existing storage pattern. The user guide will help you to manage the system adroitly.

Help from forums
All cloud Accounting software comes with community forums. These are especially useful to the new users, as they clarify all sorts of doubts through these forums. You may be facing a certain problem while using the new system. These forums feature questions and answers, and discussions, where you can place your queries and get relevant answers. Although, the ‘Help’ button is present to provide you with the primary guidance, you may need further assistance from these platforms.

Overall, the cloud storage system is scalable. You need not invest in costly hardware. You simply need to pay a charge to the company. The amount of storage space needed can be scaled up and down. It ensures that you save your costs. Besides, most of the companies opt for managed IT services, where a third party controls their cloud accounting process. The number of employees required to control this system can also be increased or decreased. Altogether, you save money both on installation and maintenance of this system.
Besides, when you will use it, you will realize that cloud accounting systems streamline your account management system. Business firms save costs, reduce wastage of resources, ease up the operational process, and enjoy increased security. Cloud Accounting software has already made its way into a large section of industries. No wonder, the future of storage largely relies on cloud accounting.

Author Bio:

Kiran Bajpai works as a Marketing Associate at SoftwareSuggest. Her expertise lies in Documents Management Software. Reading books is something that she can never get bored of, especially those related to politics and history.