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5 Smart Tips for Progressive Companies

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Humanity may just be moving out from the dark ages, which means that businesses are going to have to do the same thing. Old practices will be replaced with new practices. Old modes of work will be replaced by new ones. And hopefully better ones! Work will be more efficient. Hopefully, people will be happier!

But what are some smart things that companies that consider themselves progressive can do to move this sort of attitude forward? Consider the five following tips in the categories of knowledge transfer, social media, video culture, new industries, and work values. [Read more…]

Naming a business – a few tips from experts

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In an earlier post, we reported that most UK small businesses are no longer seeing the need to name their companies based on their family names. In the survey conducted by British Gas Business , 74 per cent of business owners now prefer more memorable names that are not related to any kind of family ties in forming their business .

According to British Gas Business’ commercial director, Adrian Harvey said “Small businesses have to punch above their weight to compete against larger competitors with more established brands. A company’s name plays an important role in doing this as it can quickly inform a potential customer of the product or service on offer. If a name is not carefully thought through and does not properly reflect what you do, potential customers will go elsewhere.”

Harvey said that with the internet playing a bigger role as the search method of choice for consumers, more businessmen who and operate a business feel that a company that is named after a family name will not be noticed. They now want names that will be easily noticed and will be memorable.

Here are some things to consider when naming your business:

* Are you considering a name that would reflect what your business does – framing, moving, cleaning, building? Alternatively, would you like to use a more abstract name?
* Do you want to use a traditional-sounding name that evokes durability and old- fashioned values, or a modern name, that paints a picture of freshness and innovation?
* Think about the future – avoid words or phrases that are likely to become easily dated.
* If your business will have some aspects of overseas trading check that the name doesn’t mean anything inappropriate in the relevant languages. Also, determine if the name will be easily read and pronounced.
* Think about your callers and customers – avoid very long names, unusual words and spelling.
* Check that no one else is using the name you choose.

The Law of Reciprocity

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An assignment recently got me interested in something called the Law of Reciprocity. No—this is not Physics class or any other Science-related course. The Law of Reciprocity actually goes by many names. Others call it an emotional bank account. One of my favorite writers of all time, Paulo Coelho, describes it as the favor bank.

But what exactly is this Law of Reciprocity, you ask?

This law goes far back as early as kindergarten for most people. It’s the “I’ll be your friend if you’ll be mine” strategy (How crafty kids can be…!). And for others, it transcends into the “I’ll show you mine if you show me yours” trick (Oh, hormonal teenagers!). Despite my limited and rather simple demonstrations, The Law of Reciprocity is actually alive and present in many, different situations.

The workplace, for one, is the perfect place to exercise the Law of Reciprocity. Take note: This law does not translate into “I’ll do your paperwork if you do mine.” It is something deeper and more reliable than that. Exercising the Law of Reciprocity helps build up relationships with colleagues and even bosses. It’s a give and take kind of thing that allows people to better work with others and themselves. When you help someone out or create opportunities for mutual advancement, you are indirectly showing others that you are not a power-hungry, promotion-junkie employee.

Instead, you are giving off the impression that you are a successful person in your own right. This actually makes you more approachable and mature. This makes others feel that they can rely and trust you. And if you give your superiors this impression… Well, that is a very good thing indeed.

The Basics of Incorporation

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A friend and business partner asked me if I could serve as an incorporator in yet another company he wanted to create. I said yes, no questions asked. I thought there wouldn’t be an issue, and of course in most cases, I’m right.

Company formation and incorporation nowadays are usually activities that can be done in a few hours, if you know the right people to get in touch with. And whether you’ve already done it once, or you’re a first-time incorporator, chances are that you won’t have a difficult time. And consider that the advantages of incorporating far outweigh the few hours of effort and small amount of funds spent for the endeavor.

Company formation experts offer one-stop-shop facilities and services to make everything done in a breeze. And since most everything can be done online nowadays, many company formation consultants also allow for online transactions. Information from around the world is at your fingertips. Shouldn’t professional services be likewise?

Outsourcing and business solutions

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Nowadays, business solutions are so specialized that it usually doesn’t pay for a company to do everything. If you intend to do all operations under one roof, then the costs may eventually outweigh the benefits. Therefore, many companies have sprung up that specialize in performing one or a few business activities and offer to undertake these for other businesses.

Welcome to the world of outsourcing. While the age of the Internet has made today a do-it-yourself age, the ease of communications and information transfer has also made it an I’ll-do-it-for-you age. You may run across problems or business requirements that you just cannot handle. Or, you might want something done but just don’t have the time or resources to do it. You turn to the experts in time of need.

In case you’re still in the conceptualization and formation stages of your company, there are also people who are experts at company formation. And they would be more than willing to guide you through the steps required in setting up your business. In most cases, they’d do it themselves! Don’t sweat it. There’s help about.