4 Tips For Managing A Deskless Workforce

If you manage a deskless workforce, then you need to have the right strategies. While their are many benefits of going remote in today’s business world, it also comes with its fair share of challenges. So avoid common pitfalls of remote teams and use the four tips below to ensure more success and profit:

Use the Right Apps

Since you can’t just go up and talk to your employees and coworkers, communications apps are critical to managing a deskless workforce, and can help you tackle communication issues for deskbound workforces as well. Without them, you risk falling out of touch your team. Apps allow you to communicate the right objectives, at the right time, to the right members. You can also share a large variety of files, from videos, to text, to links, to cloud documents. So don’t try to cut corners when choosing the right apps for you. Analyze the pros and cons and pick the one that suits your needs the best.

Substitute In Person Meetings for Video Calls

Long gone are the days where you have to assemble everyone in one small conference room for a meeting. Not only is this costly, but is is inefficient. Luckily, if you don’t have a physical office, then you don’t have the pressure to do this. But that doesn’t mean you should ditch meetings altogether, face-to-face interactions still hold value. Schedule weekly, if not daily, video meetings to make sure everyone is clear on your objectives and allow them to raise issues.

Leverage Instant Chat

One of the biggest miracles of modern communication apps is the ability to be in instant communication with anyone else at the tap of a button. Whether your lead programmer is in Boston or Bali, you can send them messages or respond in seconds, and it has different connotations to email. Instant messages imply something closer to a verbal conversation that needs more urgency. Don’t overlook this vital feature, or the delay time could eat away at your project expenses.

Measure Results, Not “Time in Chair”

Great managers know how to manage their team. And in this new business world, that means focusing on the results. Simply looking at time sheets doesn’t give you the full picture of how productive someone is being. Numbers don’t lie, but do make sure you’re looking at the numbers that matter, as it can give you some insights on how your employees work.

When it comes to work in the modern age, you are on the cutting edge if you have already ditched desks and gone remote. However, that does not mean you are in the clear just yet. You still need to use the right tools and techniques to make sure projects get done on time in the most profitable manner possible – that also means recruiting some other businesses to help with other tasks (such as web design or marketing). So implement the tips above and have peace of mind that you’re on the right track.

5 Ways Your Business is Probably Losing Money

The importance of generating a profit is something all small business owners can relate to. However, a large number of small businesses are lucky to break even, while others continue losing money until they’re unable to keep their doors open. To stay afloat, each aspect of your business must receive careful attention, so you can maximize your profits while minimizing your losses. Here are five ways your company may be losing money.

1. Poor Accounting

Razor thin profit margins make it necessary to track each penny that comes and goes from your business. Failing to log transactions or relying on inaccurate and/or time-consuming expense sheets can deceive you into thinking you’re doing better than you actually are. This can lead to overspending, which could ultimately result in negative cash flow.

It’s important to record all transactions accurately. Mixing numbers up or recording them in the wrong places seem like minor errors, but they can have devastating consequences to your bottom line. Conducting internal audits and reconciling your books regularly can help you spot these irregularities before they create more significant problems. You should also consider hiring a professional accountant to maintain your records.

2. Poor Pricing

If you price your products or services too low, you risk not making enough per transaction. For all you know, those customers might have been willing to pay more. If you set your prices too high, your customers will seek out cheaper alternatives.

Pricing can be tricky, but it’s far from impossible. A market analysis can help you learn more about the customers you serve and their potential needs. You can also look into what your competitors are charging for their products. Ask your customers what they think is a fair price for what you have to offer and how much would be too much.

3. Outdated Technology

With so many technological advancements, there’s no excuse to continue relying on obsolete technology. Modern systems, such as point-of-sale (P.O.S.) systems are designed to be scalable, allowing you to meet changing customer demands with ease. Transactions in today’s world take place at lightning speed, and if the tools of your trade can’t keep up, they could hurt your bottom line. You can also keep better information on how your business manages its budget and expenses with new technology that can cut the time and money that you spend. There’s plenty of software and systems that can be beneficial to your business.

Additionally, ignoring the power of marketing and branding could be making you miss out on some great opportunities. Many businesses don’t consider their brand an important aspect, but making even a small investment in it could make a difference. Same goes with social media and an online presence. Try to maximize the areas of your business that you know will help you get some profit. If you want to check out more, make sure to read up on our available services.

4. Combined Accounts

No matter how small your company is, it’s crucial to separate your business and personal accounts. Even if you’re a sole proprietor, combining the two can create an accounting nightmare. At some point, those funds are likely to get mixed up.

Suppose you have a family emergency that costs you several thousand dollars. Some of the money in your account belongs to your business, and that situation makes it far too easy to withdraw more money than is yours to spend. Money from your business can easily be lost this way, and it can be hard to figure out how much if you continue to run your company this way.

5. Too Much Office Space

Another thing to consider is whether you need as much office space as you’re using. While you might indeed need some type of storefront, there’s no sense in spending money on the excess square footage. Modern technology has made telecommuting more popular and practical than ever before. If your business is in a position where you can embrace this technology, you’d only need as much space as would be necessary for those employees that have to work on site.

There are many different ways a business can lose money. What’s important to remember is that money doesn’t vanish. It has to be spent somewhere, and it’s your job to figure out where that is.

Resources:

What’s it really costing you to submit expense reports manually? | Divvy

7 Ways to Stop Throwing Money Down the Drain | Inc.

Are Your Prices Too Low? It’s Time to Rethink Your Pricing Strategy | allBusiness

5 Ways Telecommuting Saves Employers Money | Entrepreneur