Formal meeting

Formal or informal venue for a casual client catch up meeting

Providing a good venue in meeting a client helps in establishing a good impression and reputation. But what is the ideal one to casually meet a client in to catch up? A formal or an informal one? Perhaps, the best way to know is to be aware first, about the difference between a formal meeting and an informal one.

A formal meeting has a set agenda and the minutes of the meeting had to be documented. Examples are board or conference meetings informal venues, special task forces, committees, and communities. The ones that attend it usually own have defined roles that follow a hierarchy and are more likely to be representing companies and organizations.

On the other hand, informal meetings happen as it gets organized on a day-to-day basis. Brainstorming sessions and progress reporting fall into this kind. Informal meetings require an agenda. But mostly, to keep everyone focused. It keeps them on track so that they won’t get derailed from the purpose of the meeting. Minutes are not legally required but it’s always advisable. And if they were taken down, it’s just to know what was tackled as a pointer for the next meeting to take lead from.

When it comes to informal meetings’ minutes, they are more lenient and do not require formal use of language and sequence. No formal votes needed therefore, no need for structured decision-making. This is not a license for informal meetings to lose their structure altogether. They also most certainly aren’t free for all to attend.

Conference meetings

Now that we have clearly defined each, it’s safe to assume that it’s common that informal meetings will take place in an informal venue. But just in case you have to decide which is best for your casual client catch up, here are some factors you must consider in deciding which:

  1. Agenda – What is the casual meet-up for? Is it just to exchange views on some progress in the project to be done? Is a signature or two needed to finalize contracts? Is it for tripping to a property for sale? Or to get feedback from the product bought from you or the service rendered by you? Having an agenda is one of the most ultimate factors one must consider to identify how casual a meetup could be.

There are casual meetups that are full of idea generation. But there are casual meetups that create just as how Steve Jobs initially met up with his friends at the garage as they worked on the first Apple computer. But since that was the most conducive at that time, and all they needed was a workshop where they could all work together regardless of the location.

  1. Time – Casual meetups or informal meetings follow an agenda, but it’s more laidback and relaxed. It doesn’t have a set time to finish. Its minutes are not taken down strictly. Although casual meetups usually need little time only, it all depends on how much of exchange is needed in terms of views, opinions, suggestions, and agreements. It’s advisable that the longer you expect a casual meeting would last, the more it needs a formal venue because a coffee shop may not be too ideal for long meetings. Many things are discussed during informal meetings. The client is encouraged to speak up more and discuss anything that’s not usually discussed in a formal meeting.
  2. People – Informal meetings usually involve not more than 5 people. If it is too large than that, it may need its own boardroom. As an informal venue somehow releases the client from anything tense, they feel encouraged to share their views and opinion. An informal venue provides a less threatening ambience for the client that enables it to express more of itself making the rapport you build even sturdier.

Informal meetings or casual meetups come in many forms. Examples are ones that are done in ad hoc, impromptu, or last minute. There are no minutes taker, manager or chairperson and a strict agenda. Some clients prefer a formal venue over an informal one even though it’s a client catch up meeting only. Represent yourself well by consulting this list to help you gauge what is the most appropriate for your client.

top 5 reasons small businesses fail

5 MASSIVE Reasons SMEs Fail

Implementing actionable and realistic business plans can increase the lifespan of any SME

According to business strategists, the survival of new companies depends on some essential factors. It’s easy for these experts to predict the outcome of any business during their teething periods. Don’t forget that developed countries rely on the SME business sector to reduce unemployment rates. Without a viable small and medium business sector, the size of an economy might shrink. In this article, we shall analyze the cause of SMEs’ failures and suggest ways to prevent a disaster.

one of the biggest reasons small businesses fail is due to bad planningFailure to Plan

While listening to the challenges and success stories of many entrepreneurs, I could identify a common factor for their growth. They developed realistic business plans that were guided with the growth mindset. Planning and implementation are different, but both phases require unique strategies. Without conducting an accurate market survey, there will be no information to plan the business. Being a small business idea doesn’t reduce the risk of failure. Instead, the correct implementation of a viable business plan must include some of these factors:

Too Much Focus on Accelerated Growth

Learning from mistakes is more important than focusing on accelerated business growth. According to management accountants, every new business has a break-even period. It’s the phase where the revenue is more significant than your business’ running costs and loans. By trying to grow too fast, an SME business owner might be consumed by unnecessary risks. However, numbers don’t tell lies, and the company’s financial statement often indicates its performance. 

One of the advantages of entrepreneurship is learning to improve your business from every experience. Growth often takes time, and it’s realistic to accomplish your corporate targets without using shortcuts.

Incompetent Management

Usually, the board of directors applies their wealth of experience to the growth of companies. They make realistic projections, develop strategies and plan the smooth running of most organizations. When SMEs fail, the first area that consultants probe is the management style. Without purposeful management and leadership, the organization will fall short of its key deliverables. 

Even smart people with natural leadership skills try to develop their ideas. Also, employees will suffer from poor morale if their organization has an ineffective management culture. This condition often affects the productivity of SME businesses and leads to business failure. Additionally, reckless financial strategies and the lack of technological tools in the workplace are some elements of incompetent management.

A Poor Bookkeeping Culture

Many business experts understand the importance of using accounting software. You could experience a plethora of fraudulent transactions without proper accounting procedures. Usually, SMEs businesses thrive when the owners track financial activities and reduce wastefulness. The process of selling your products and services should be executed with less human interferences. 

As a business analyst, I recommend cloud-based accounting tools for start-ups and existing businesses. With these accounting software applications, entrepreneurs can track financial activities without going to their offices.

Too Much Account Receivables

Offering your products and services on credit terms is not the right way to attract customers. Also, this practice is a weak organization culture for new businesses and SMEs. Usually, clients take undue advantages of companies that depend on credit terms. When your profit and loss statements show more account receivable, it indicates a journey of business failure. It’s better to negotiate favourable terms like upfront payments and bank guarantees when dealing with clients.

 

Auditorium event

Pointers to keep in mind before hiring a Formal Event Venue

Getting a perfect venue booked for an informal get together isn’t that tactful. But, when it comes to a formal event, choosing a venue for hire can be prudent. In a formal gathering, every aspect is keenly taken note of and your image is formed on its basis. The choice of venue and how the event is carried out serves as a major deciding factor towards the everlasting relationships built during the event. Therefore, it is necessary to ensure that everything is in place and most importantly, the venue. 

  • Location – While you choose a venue for a formal event, make sure you go for a location which is within the reach of most of the people coming to attend the event. This means the venue should not be too distant and should be locatable as well. Do not choose places that are less known and visited as it might then be difficult to reach the venue. Once the event has been completely set and informed about, it is also important to send out the exact location details for which it is always better to have a known landmark close by. These specifications must be factored in when deciding the venue location and space. Having the venue situated near a train or tram stop can also benefit all those travelling by public transport and make the event much more accessible.
  • Parking – Most of the people prefer travelling through their own conveyance these days. Therefore, it is advisable to go through the list and choose the venue which has a parking area sufficient for the number of people coming to attend the event. The insufficient parking area can lead to last moment ruckus and unsmooth execution of an event, especially a formal one. It is also important to consider the safety and security concerns facing the people who are attending the event,. Hence have your formal event where clearly marked pedestrian crossings and secure parking areas are provided.
shaking hands on a business deal
  • Services – Thoroughly look through the services that will be provided during the event. You should check out for a clean place with a seating arrangement as per your event’s requirement. The quality food served during the event should be ensured as well. Check for any extra facilities as per the demand of your event
  • Ambience Every formal event has a motive or topic. Formal gatherings are oriented to a particular motive, unlike informal get-together. Therefore, it is recommended to choose a venue that complements the motive of the event. Obviously, you won’t get everything planted. Hence, ensure the decoration and arrangements are done accordingly with the right interior wall finishes and décor ideas as needed.
  • Emergency Arrangements – Although we always hope for the positive and the best, it is good to be prepared for emergency situations like fire etc. At first, take care that you do not have to encounter any such situation. But, it is still suggested to look for a place which is well-equipped with all the safety measures in case of any mishappening. 
  • Communication Mediums – Formal gatherings require equipment like mics etc. to communicate. Do check that everything is ok with the equipment. Sometimes, the pitch of the mic does not go well with the place. This leads to sound echoing. Hence, resulting in a disturbed and broken conversation. 
  • Budget – You should clearly know how much you want to pay for your ideal place. It is better not to settle for cheap places with pathetic services or an excellent place running out of your budget. Set a budget, choose places and then pick up the one that meets your needs as well as fits your budget. After all, the dress should be cut according to the cloth. 
Corporate businessman

Choosing the right venue for a formal event is not easy. There are a lot of things to be kept in mind. But, keeping in mind a few things will definitely help. You should first know about the type of ambience you need and look accordingly. The venue should also have enough space for everyone to be seated and should be clean. The date of other events in the same venue should not collapse with yours. Plenty of deciding factors goes towards deciding the right venue to hire, starting from deciding the theme or interior décor needed for the place, proximity from various destinations to the alternative flooring you wish to have for your event.

The formal meetings are a bit sophisticated and hence everything needs to be on fleek. Check for proper services, sound system if needed, neatness, parking area. Most of the people use maps to locate places these days. Therefore, choose a venue easily locatable. Keep a check on security as well. 

Following the above points, you will be able to execute a formal event in a perfect venue that goes well with the purpose of the event. 

Flaws in Starting a Clinic Business

The day has finally arrived, and you presently own your practice. You are ready for the first customers to walk through the door. Before the launching day, you’ve put endless hours setting up your practice, ordering gear, and composing each of the processes. Before opening the doors for good, here are five fatal defects in launching a new practice and the way it is possible to stop the expensive mistakes.

1) Selecting the Wrong Office Administrator

The office administrator may make you a lot of cash or force you to lose significantly. They’re the brand ambassador and have an influential part in the individual encounter. They play a crucial role: assessing patients in, scheduling appointments, collecting payment, filing, photocopying, answering telephone calls, and assisting patients with general questions. That’s a tall order to fulfil! Burnouts and high turnovers are a consequence of high workload. When recruiting, choose carefully and ensure that the individual is hard working and fits the culture of the clinic.

2) Restricted Hours of Operation

Patients anticipate clinics to be open which are suitable with their hectic lifestyles. If your practice isn’t free, they’ll visit your competitors. Do not fall into the trap of getting prohibitive hours which isn’t patient friendly. The perfect weekday program is producing two blocks of time: 8 am to 2 pm and 2 pm to 8 pm. Weekends are also excellent especially for more extensive procedures such as breast reduction if you operate a cosmetic clinic in Melbourne for example.

A few Helpful Suggestions for establishing your business hours:

  • Examine the demographics on your area
  • Figure the competitor’s hours of surgery
  • Have persistent hours and programs, so it is simple for patients to recall

3) No Doctor Relationships

Have you got a fantastic physician promoting program? A physician that enjoys You will send you around three patients each week. You want doctors to enjoy you then who are now supplying their physiotherapy or chiropractic services. With a personal relationship together makes it simple for them to conduct business with you, it actually can make the most significant difference. Possessing a few physicians in your pocket before your clinic opens is critical so that you can break as soon as possible.

4) Your Site

People today expect to find nearly everything online. Not having a site or some social websites (facebook, twitter) can create your company virtually invisible to the vast majority of potential customers. If your site is converting well, it may provide you, multiple new patients, each month.

Your site must be Google/SEO friendly. It may take around 12 weeks to your site to rank in Google organically. My suggestion would be to start early and build your website 12 weeks before the launching day of your practice. Get some external assistance to set up your Google AdWords, content to your blog, and social networking plan. Each of these variables can allow you to rank organically with google quicker. Expect to spend around $3,000 to $5,000 to get an excellent site that’s Mobile friendly.

5) Missing Essential Licenses, Registrations, and Techniques

Regrettably, they do not teach you a lot about a company from physiotherapy or chiropractic college. There are lots of steps to starting a brand new practice, and also you do not need to miss anything crucial. Are you currently set up with GST? Can you receive malpractice insurance? Have you been privacy policies compliant with your local medical body?

Beginning a clinic business is a significant undertaking, but with the ideal preparation, you can get whatever you want to set up a thriving practice on a brief timeline. We’ve made it super simple for you and have compiled a list of things that may go wrong and jeopardise the success of your clinic.

Benefits of Outsourcing Business Procedures

Outsourcing is a big recent buzzword in the business world, as more quality and cost conscious companies all around the world are turning to destinations such as India and The Philippines for outsourcing their own non-core company procedures. Therefore, just what is outsourcing and what would be the advantages of having an offshore business partner do your job for you?

This article looks at the advantages of outsourcing and the value proposition provided by various Australian outsourcing companies.

What is outsourcing?

Outsourcing involves entrusting some business procedures to specialised businesses located overseas and that are external to your own business. Any business process that may be performed from an offshore place could be outsourced. This includes acts such as transaction processing, payroll and purchase and stock management to name a couple. Additionally, you will find a great deal of call centre services which are being outsourced as well. The existence of new technology and the internet has facilitated high levels of business outsourcing recently.

Advantages of outsourcing your business processes

There are many advantages of business process outsourcing to destinations across the world. A number of them are:

Price benefits:

The most evident and observable advantage relates to the monetary savings that outsourcing brings about. It’s possible to get your job done in a lower price and at better quality too. Because of gap in salary between western nations and developing nations, the identical sort of work that’s achieved over there may be completed in India at a fraction of the price tag. It is evident that cost savings can be as high as 60% when outsourcing to places such as India. There are also quality standards in place, ensuring that services are high quality yet low cost.

Increased performance:

When working with an outsourcing partner that specialises in a particular field, they bring years od experience and expertise into their work and have complex resources in place to carry out work. Hence, they are able to do the task better using their expertise and economies of scale. This also contributes to a growth in efficiency and productivity in the procedure thereby leading to the bottom of your business. As a business owner, there are many responsibilities that you may not be able to keep up with, tasks such as IT, web development and accounting may be better off with professionals.

Concentrate on core regions of business:

Outsourcing your business processes would spare your energies and allow you to concentrate on creating your brand, invest in research and development and continue on to supplying higher value added services. For example, your successful and busy laser skin clinic may have many employees that need to be monitored through payroll and remunerated correctly, but you may not have the personnel or office space for a human resources team. Therefore you can outsource payroll and save time and money to providing top laser treatment services to your customers.

Save on infrastructure and technology:

A great benefit of outsourcing is the elimination of the need for infrastructure and resource investment. The outsourcing partner is responsible for staffing and infrastructure needs therefore the client has no additional costs and tasks to worry about. No need for expensive large offices and software to manage business processes.

Accessibility to expert resources:

You don’t have to invest in training and recruiting expensive tools for your industry. Providers deal with their resourcing needs using their pool of highly skilled sources. Outsourcing companies often specialise in one area, such as accounting, where they have access to the best software and skills in the field, that you may not have the privilege of owning.

Time zone benefit:

Aside from the cost benefit, another much touted advantage must do with the time zone between your nation and the place you’re outsourcing to. Get your work done as you’re shut for the day and wake up to completed work waiting for you. This exceptional benefit provides you the advantage of round-the-clock company operations and better use of time.

Quicker and better services:

Ensure that your service offerings better using top quality deliverables and reduce the lead time it takes for your merchandise to achieve the marketplace. Make things happen faster in your business without the worry of spending time and resources doing miscellaneous activities. You can focus on your services and leave the back work to the experts.