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Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Thursday, 3 October 2019

What Today’s Top Retail Firms Can Teach You


These companies boast a huge staff roster while they make a lot of money, too. So, how did they get there? Keep reading to learn how you can turn your company into one that sees as much success as today’s most profitable retail firms.

Amazon

Amazon is the second biggest retailer in the world while they hold the top spot online. Back in the 90s, they were simply a small ecommerce website that had sold books, but today they have turned into this behemoth that makes more than $234 billion in sales online. What’s more, is that they haven’t stopped there, leading in areas such as cloud computing and groceries, to name a few. However, this success did not happen overnight for them. 

Similar to Walmart, which we will talk about next, Amazon started to create the warehouse foundations right from the start to prepare them for what’s to come in the long term. In addition, while they kept their operating profit margins fairly low in comparison to the average percentages, this allowed them to make a strong relationship with their shoppers which was very beneficial in the future. Indeed, they tried to keep their prices as low as possible while offering as wide of a variety as they could in order to catch the attention of customers and get them to buy. Over the years, they simply put back into the company all that they made in order to solidify their delivery infrastructure. Therefore, if companies can take anything from Amazon, it’s that regardless of the kind of growth that you are getting, it is important to continue trying to improve and strengthen your footing. Don’t look at stock prices, for instance, but rather put in a good portion of what you make back into your company that way you can better it for the long term.


Walmart

Today, Walmart has 5,263 stores which have amassed sales totaling $387.66 billion; an amount that is difficult to even fathom. However, before reaching the heights that it has today, Walmart began as a collection of small discount stores that were only located in little towns. The founder, Sam Walton, used Meijer’s business model as a basis for his own model, but made improvements to better cater to his vision. Walton was smart to have begun in smaller areas as this allowed him to conquer rivals with ease. He also made sure that these stores were not far from the regional warehouses. Over time, the business grew, seeing a lot of success between the 70s and 80s due to the fact that regulations in trade became looser, which made it easier to obtain cheap items from China so that they could continue to offer items at the lowest prices possible. After all, that is their motto to this day. Indeed, if someone is looking for items that are inexpensive, the first firm that comes to mind is Walmart. As you can see, throughout all of these years, Walmart continued to stay true to its main purpose regardless of its expansion. This pricing strategy has proven to amount to a lot of success which is why it is recommended that firms find their own purpose that they can stick to from day one and then fifty years into the future. It is also crucial that everyone in the firm has the same objective, to help ensure that the goal is always met by every staff member.

Costco

Costco is yet another example of a store that sells items at the lowest costs. As you can see, this is a strategy that works, especially when you consider the fact that they make $121 billion in sales every year. That being said, they have done a good job of ensuring that they aren’t comparable to that of Walmart as they have shoppers that have higher incomes. This is due to the fact that customers need to become members if they want to shop there and they only sell a particular amount of items that are sold in huge amounts. For instance, shoppers can only choose from about four different kinds of toothpaste while Walmart will offer around 60 different types of toothpaste. However, as a result, they are able to get much better bulk discounts from their suppliers. The company itself is also pretty lean in comparison to others as they are only spending about 10% of its revenue on overhead in comparison to the 20% that Walmart spends. In addition, they do not put in any money into advertisements. They also have lower electricity costs since items remain packaged on the shelves which don’t need skylights which actually makes it fun for shoppers as they get to do a bit of exploring in order to find what they need. Indeed, trying to make its customers excited lies at the core of the firm’s culture. Their culture is like no other as they boast higher wages and great health advantages. Therefore, as you can see, having a good working environment is more important than trying to please corporate. While they might get feisty with big name brands, they never show their teeth to their own staff. 

Ready to Scale Your Business


Get These 3 Things Right  

Entrepreneurship is not for the meek, and this next step of scaling your business takes equal courage. You have a sound business; it’s making a profit, it’s supporting numerous employees, and is making its way into the public sphere. You don’t want to ruin a good thing. Keep these three things in mind when designing your 10x.


Data 

You probably have data stored on multiple platforms like SalesForce and Excel, for example. These are all trusted software, but when expanding, you’ll want to see your data in one place. Data warehousing allows you or your business manager to upload data from multiple sources so you can see them all together. Having combined data will enable you to get an accurate picture and make better decisions to grow your business.


Purpose, Systems, and People  

When scaling your business, don’t make the mistake of watering it down. Many business owners who want to scale up think they need to expand their services or product line. It’s best to know what sets you apart and stay focused on that until the next stage of development. Have systems in place that your management and employees can follow. You want to have a stable company, so the people working for you aren’t working in an unpredictable environment with unpredictable pay. Promote managers and hire consultants that can think as big as you can and are willing to follow through. Continue to network and grow your connections. Who you know and who you surround yourself with can make or break your business.


Financing  

A full scale is going to need funding to succeed. If you’re like most entrepreneurs, you may have secured small amounts of money through family, angel investors, or banks. To take it to your business to the next level, let your next hire be an experienced financial advisor. Having someone you can consult about funding and where best to put your money will be the most noticeably useful addition to your business. He or she can advise you about expansion in a practical, unemotional way that is still 100% intent on growth.


You’ve already done the hard work with a start-up. Taking your business to the next level is an exciting and rewarding process. Continue to use new data and keep it organized, stay focused on your strengths and network, ensure your finances are being put to their best use, and don’t forget to think big.

Monday, 30 September 2019

Handover Cleaning Rules You Must Read


Handover Cleaning is the process of cleaning the house before handing it back to the owner after the termination of the lease period. Basically when you move to a new house or vacate an old one, then you have to clean your house to get your deposit back. 

This article will teach you some easy to do handover cleaning rules by which you can clean your old house or new one, effectively and without breaking the bank because it is really expensive to hire someone for cleaning and if you are planning to do it by yourself then you must follow these handover cleaning rules to make the house as clean as possible.

The first thing that you have to remember that sweeping or cleaning the floors is not considered as cleaning the house and if you don't want your landlord to steal your deposit then read this article carefully. Here I have 8 simple rules that can make you handover cleaning very effective.

7 handover cleaning rules you must read

1- Ask the landlord about his expectation

This is the most important point and you should do this at the very beginning. Don't start the cleaning process before asking your landlord about his expectations. It doesn't matter how good you clean the house, If your landlord doesn't like it then he is not going to return your deposit and you will have to do it again. So always ask your landlord first, then start cleaning because it will save your time and energy.

2 - Plan carefully

If you don't want yourself to be in burden then you should plan the full cleaning of the house before one month of vacating. By doing this, you will be able to clean efficiently and without stressing yourself. Here are some tips on house you should plan.

One month before vacating, you should start cleaning the outside areas of the house like a garden and lawns.

7 days before vacating, you should focus on cleaning the garbage, removing the webs, spray anti pesticides in the lawns, Clean out the curtains and clean the fans and air conditioners.

Then, at last, clean the bathroom, bedroom areas, kitchen, and floors

3 - Talk about maintenance to landlord

This is one of the most important handovers cleaning rules. If you encounter any big damage while cleaning then you should contact your landlord. You should talk regarding explicit things you can't fix without anyone else, for example, a wrecked handrail. Your proprietor may request to see the harm and survey whether they can fix it effectively. Provided that this is true, you might be free. If not, expect a fixed bill. It will help you calculate your other expenses.

4 - Clean it as you mean it

Don't rush things, don't just clean your stuff. A lot of landlords define cleaning as diamond clean and if you are doing the cleaning by yourself then you must satisfy your landlord as much as you can. Clean all the walls, Tops of cabinets & the fridge, Windowsills, Crown molding, Cabinet shelves & inside drawers, all parts of the toilet (including the back), Fridge shelves & freezer and Oven.

5 - Don't leave any of your stuff behind

It is very easy to forget small but important things when you are in a hurry So always put all of your important documents in a fixed place. It will reduce the chance of losing important things.

6 - Fix repairs by yourself

If you don't want to lose a huge amount from your security deposit, then you must try to fix small maintenance repairs by yourself. It means ensuring the small stuff is dealt with simple fixes, such as filling gaps in the walls and expelling dents from the floor covering, can spare you a considerable amount of cash – cash that you can use in furnishing the new house.

7 - Taking care of yourself

I understand that you want to save cash and do the cleaning all by yourself but one thing that you have to keep in your mind is taking care of your body. For example- if you are allergic to dust then you should not do the cleaning by yourself. Ask for a friend to help or hire someone at a reasonable cost because if the bacteria gets you then you have to spend more on your treatment. So don't compromise on your health.

Bottom line

So that's it for today. I hope you will get some help from this. Share this with your friend to help them in the handover cleaning and if you have any other rules then feel free to comment below. Have a good day.

Understand The Concept of Tax Depreciation


Year after year, many predictions were coined that are concerned on the basis of the financial development of the businesses in Australia. The business sector is booming today because of the urban development and nurturing activities that have been undertaken in the past years. One of the reasons behind the success in this sector is undoubtedly the aspect of land valuation in Brisbane.

The business owners and the land valuation are accustomed to the depreciation of the segment of tax with every financial year. Many of us are not aware of the benefits, and may end up missing out on bulk of money.

One should know a few things about tax depreciation that can help us in making better financial decisions every year while managing other businesses and the estate on land valuation.

Tax depreciation and its definition

New business owners are usually unaware of this complicated term of tax depreciation. This essential factor is mainly concerned about the tax returns under a very specific regulations of the particular state or country. This concept is highly beneficial for business owners.

With that, Australian regulation, namely ATO (Australian taxation office) has allowed the property owners to have depreciation claimed under specific rules. On a simpler term, depreciation conceptually means a decrease in asset value caused mainly due to factors such as currency, equipment, and poor market conditions.

Renovation of old land

According to the Australian taxation law, the property or the hotel owners can claim the deductions on the commercial aspects built after a specific date. That means that the claim has to be entitled even if the valuation had taken place under the reign of previous owners. 



However, we can claim the depreciation amount over equipment and plants without considering the property age. During the renovation period, the owners are accustomed to depend on these surveyors. If any item is removed, it can be added as deducted from the particular building.

Who can claim the depreciation?

With that everyone is coined to have depreciation claim on the property and assets. In reality, the tenants and owners, and land owners undergo for depreciation after the renovation is done.

During the land valuation, the primary estimate can be added to the property. It can include the type of land, the value of the land and the type of property that can be built on the carpet, equipment, furniture, shelves, bed, and even a security system. Generally, commercial tenants are entitled to have such a claim. On the other hand, the hotel owners can also claim depreciation on the newly installed assets. However, it is not just limited to the new installation. Other aspects, such as items that the previous tenants of the hotel have left behind can also be added to the list of claims.


At times, lease conditions are also involved in the depreciation period. The tenants are usually expected to return to the hotel in its original state. The surveyors are engaged in covering things that have been removed during renovation.

What can be depreciated?


Even though tax depreciation can be claimed on certain things, not everything can be considered to be under the reign of this specific law. According to the Australian rules, the property that is not owned by the individual businessman cannot consider depreciation. On the other hand, if a particular businessman is not using a small aspect of the entire hotel property for producing income, he can only use the part that is used for business for depreciation purposes.

Saturday, 21 September 2019

Business Intelligence Tools and Why You Should Use Them


Business Intelligence (BI) is a set of applications, practices, technologies, and tools to help companies analyze, collect, and integrate data. Introducing BI tools to enterprises and organizations help develop technology-driven procedures that may involve data mining, reporting, and analytical processing.

Several benefits exist from using BI tools to assist firms in various industries with their data gathering and processing. Here are four reasons why you should start using BI tools:

Empowers Productivity

Professionals who have direct and easy access to the data they need may help create a focus on delivering specific tasks. Without the required information, employees might need to do extra assignments to have the data they require. Thus, it might lead to a waste of valuable resources, especially for the personnel’s time and effort.

BI tools help create an impact on key personnel in prioritizing essential tasks. A data-driven approach with the help of BI-oriented applications may also open new opportunities for recording Key Performance Indicators (KPIs). Decision-makers can study these KPIs to create unique plans for incentives and rewards for hardworking employees.

Consider using BI software with a computerized maintenance management system (CMMS). A CMMS software helps companies to:

  • Track orders
  • Schedule tasks
  • Accept work requests
  • Record assets and inventories

Turn Data Into Actionable Strategies

Various businesses use different analytical tools to help operations in developing strategic plans. Using a reliable BI system helps decision-makers identify key industry trends and patterns. The data gathered may help firms make essential connections and collaborations among the different departments.

BI tools help key personnel understand the implications of specific actions. Use the features from the system to help enhance abilities in identifying threats and opportunities. Thus, BI software may also aid companies in staying one step ahead of competitors.

It may also allow the company to save business resources. Various BI tools might help organizations streamline data gathering, handling, and reporting. Employees might also allocate more time in completing essential tasks, thereby increasing opportunities to enhance productivity.

Reduce Stress from Micromanaging

Micromanagement allows business owners and managers to oversee every operation in the organization regardless of importance. Micromanaging might seem tempting at first, but it may lead to undesirable results. Still, trying to manage every part of a company or team isn’t all bad.

First, it allows decision-makers to gain excellent control over operations. Also, it enables every team member to be up to speed at all times. Nonetheless, micromanagement may leave a negative impression on specific employees. For instance, a boss might become obsessed with micromanaging every part that it can annoy employees. Also, the process may damage trust among team members.

Aside from barking orders, managers can micromanage with the help of BI tools. Use a BI application to identify critical parameters that may lead the company to success. Also, specific apps with BI features may help reduce stress from employees regardless of the job position. The data gathered by the program might help employees take accountability but in a transparent setting.

Gain Sales and Marketing Know-how

Startup companies might find it challenging to gain the upper hand in sales and marketing. Specific BI applications might have Customer Relationship Management (CRM) features. CRM tools allow you to handle the various aspects of customer-relationship handling and reporting. It will enable decision-makers to create actionable strategies to help sales and marketing personnel interact better with potential and existing clients.

BI software may also help salespeople gain a better grasp of the company’s sales cycle. It may entail:

  • Searching for new markets.
  • Tracking existing customers.
  • View profit margins in a period.
  • Provide after-sales services.

Considering to use BI systems with CRM capabilities may involve different personnel in various business departments. Professionals in human resource, finance & accounting, or front-end operations may use data gathering and reporting tools presented by a reliable program in creating actionable plans. Hence, companies may gain higher opportunities in increasing sales efficiently. The system may also provide decision-makers with additional insight into current and future market trends.

Consider taking time in looking for the right BI tools for your firm. Don’t rush the process of finding the right system as it might lead to undesirable outcomes. Check the features and benefits provided by specific BI software to let your business gain excellent value for money.

Conclusion

Many BI tools may handle Big Data to help different companies regardless of size. Aside from the benefits listed above, the right system may also help organizations gain competitive intelligence of their competitors. Furthermore, it may help companies improve their decision-making skills to plan for the future.

Why is CRO Important for your Business?


Conversion Rate Optimisation, or CRO, is the process whereby the number of visitors to a website being converted into clients or customers is increased for maximum benefit, i.e. optimized, and it can be an excellent tool for website developers.

Why is CRO so important? There are some very good reasons why this is so.

It increases the value of website visitors

If you wish to employ the best SEO (Search Engine Optimization) techniques for improving the performance of your website, the focus must be on the right conversion strategies. While the right kind of SEO can help you get increased traffic, a good CRO technique can be extremely useful in converting this traffic into leads and, hopefully, customers.

It gives an increased degree of a customer-centric approach

CRO techniques, used effectively, can persuade your customers to choose the requisite call-to-action (CTA) options. The techniques and processes used in CRO are designed to keep the customers as the focal point. The design of your CRO will be helpful in attracting more customers to your website. Focussing on customer behavior and preferences can be an effective way of retaining their loyalty.

It helps you stay ahead of the competition

CRO can be a great way of working towards improving functionality, enhancing user experience, and developing content. CRO techniques can definitely be helpful in improving the overall performance of your site and thus increasing your dominance in the market. Proper implementation of CRO techniques can be a great way to help you stay ahead of the competition.

It improves User Experience

CRO, when used effectively, should help you achieve the best possible user experience, which, in turn, is key to perfect website development. In fact, CRO enables you to understand any of the issues you might come across on your site. This can help you to improve performance further, particularly in checking and enhancing the performance of the landing pages.

It adds more value to the site, thus increasing revenue

The right CRO method can be the perfect choice for improving your understanding of the real value of your website. You can recognize any issues your pages may be facing, thereby monitoring the right conversion performance. The data obtained from the correct CRO techniques can, ultimately, add more value to your site.

In essence, CRO can be a perfect option for getting the ball rolling in your favour. It can help you get more customers to your website in the shortest possible time and can be used in conjunction with other marketing techniques. In fact, it is the foundation on which all your efforts to achieve the best results are built.

Thursday, 20 September 2018

Vape Mods: The Ugly Truth About Clones

Counterfeit products are not something fresh to the market. From shoes, bags, phones, and even cars, knock-off goods are close to the real deal but with a much cheaper price tag. At times, you cannot blame anyone for purchasing them. But are clone vape mods worth a try?

Clone vape mods are counterfeits of known vape mod brands. Most of these clones are hard to differentiate just by observing them. Even though clones may look and function almost the same, there’s usually a catch.

The Ugly Truth

The fact is that while clone vape mods are cheap, this automatically translates to the use of cheap materials and poor build quality. Comparing the e-cigarette industry to others, it’s still in its infancy stages. The vape industry started receiving mainstream recognition only recently, both praising and diminishing. Due to the industry’s fragility, there are many reasons to avoid these counterfeits.

Cheap is Expensive

When purchasing a legitimate name-brand vape mod, you are acquiring something that has gone through thorough engineering using high-end materials. A clone or counterfeit vape mod will equally resemble the legit thing, but closer observation exposes the cheap materials used. The poor build extends to the battery as well. E-cigarettes and vape kits utilize lithium-ion batteries, which degrade as time goes on. Even the perfectly-crafted lithium-ion batteries still degrade. A counterfeit vape mod will probably be utilizing a low-end battery. Apart from diminishing product quality, this poses a threat to the user’s safety.

Where these e-cigarette clones are concerned, quality control is little to none. All popular brands will have a quality control department that makes sure that the products adhere to standards and pass safety inspections. With fake vape mods, the manufactures have no consideration for standards and safety.

They Don’t Have to Be Monitored

If you are purchasing from a known brand at a trusted outlet, the gadgets are probably regulated. These safety features keep the users away from harm and avoid minor problems like overcharging. Nonetheless, this is not to state that all clone devices are lacking when it comes to safety measures, but there is no guarantee that they feature them, either. When dealing with counterfeits, it’s more of a ‘you get what you pay for’ situation.

Lately, the media has focused its attention on the negative side of vapes like vape explosions. There are also court cases on faulty lithium-ion batteries. To not to fall victim to this, buying from a reputable source is highly recommended.

You’re Hurting the Legitimate Brands

When purchasing a counterfeit vape mod, you’re getting a replica of the hard effort put in by a big label. These big companies spend millions to make sure that their product is of the best quality. When you get an imitation, you’re ultimately hurting the original brand.

Tuesday, 28 August 2018

Importing Business Goods from Overseas

Importing business goods from overseas –Everything you need to know on customs clearance

If you thought that importing goods from overseas is as easy as taking your phone, placing the order and waiting for the products to arrive at your doorstep, you’re highly mistaken as there’s much more to it. The entire process of importing stocks from abroad is a much more complex process and it is easier said than done. There are practically lots to consider before you move ahead and before you place your first import order. Are you someone who instantly falls for the lure of cheap costs and better products from abroad? If answered yes, here are few tips that can help you decide.

Tips to keep in mind before you import goods

Do you have a local market for the goods that you wish to import?

Are you importing goods in order to resale the products? If answered yes, you have to ensure there is adequate demand for that product in your local market way before you begin to import products for reselling. Recognize the potential target audience and make a comprehensive market survey to know whether or not importing can be profitable enough. In case there’s not much demand of the product, you could end up with too much stock which is not worth a sale. 

Can you legally import the products into the country you live in?

Before you give in effort, spend time and invest your dollars on further research, you should first enquire whether or not you are allowed to import goods from another country and legally enter them into the country that you live in. In case you’re living in Sydney, you should take a quick look on the restrictions on importing rules. What are the few prohibitions that are applicable on things like medicines or chemicals or restrictions on specific items and products? Keep these in mind before importing. 

Will importing be a cost-effective option?

What will be the final landing cost of the item that you choose to import? Once you decide on the final cost of the item, you have to decide whether or not importing is going to be a cost-effective option for your business. Beyond the cost per unit, there are several other additional costs that you still have to pay and these can keep adding up. If you wish to make a reasonable return on investment, take into account all these costs before deciding. 

Can you deal with customs rate fluctuations?

One more potential risk that you could be exposed to being an importer is fluctuations of exchange rate. When you buy goods from abroad, you’re buying them in foreign currency and this implies that the prices will vary according to the exchange rate fluctuation. The fluctuation rate could either move in your favor or against you. 

Are you selecting a trustworthy supplier?

Don’t think that the best supplier is always the cheapest one when you deal with your imports. The most vital factor that you need to focus on while deciding to import goods is to locate a reputable and trustworthy supplier. You should find out someone who won’t run away with your cash, who would deliver on time and keep you informed in case there’s a delay due to some unforeseen reason. 

Are you an expert in handling overseas suppliers?

Handling foreign suppliers usually includes a deep learning curve as you might be dealing with several clients who speak a different language and whose values and culture differ from yours. There is greater miscommunication and misunderstanding when you have to deal with foreign suppliers who don’t speak the same language. 

Do you know the customs rates and trading terms?

Before you sign on the import order, you have to get a grip over the glossary terms and words used by the exporters and importers. You also have to ensure that both the parties have a similar understanding of all the terms involved in trading. If you live in Sydney, you have to keep in mind customs clearance Sydney so that you can stay well-versed on the rules and regulations.

A guide for rookie importers – Do your import right

Once you have designed a plan for the kind of product that you wish to import, there are few other points that you have to follow in order to make the process of import as smooth as possible. Here are the tips that you need to keep in mind if you’re a new importer in the market. 

Establish faith on your supplier

There are several means of communication that you can choose from (email, telephone, Skype and fax) when you have to stay in touch with the supplier and hence you have to look for someone whom you can trust on and establish a good chemistry. It is also advised that you share an amicable relation with the top management of the suppliers as this lets you make sure you have a commitment towards the import program. 

Enquire whether or not you require a license to operate

Now that you have set up a good relationship with your supplier, you need to know the government laws and regulations that are applicable in both the countries. One of the most vital questions to ask your supplier during the initial phase of negotiation is whether or not you require an import permit for the country where you wish to import and resell the products. Before you start off with your business, you will also require a license from state and local authorities to conduct the business. 

Look for transport company that assists you with customs

Next you have to hire a transport company that can take proper care of the transport, collect payments, prepare the right kind of documentation and also take care of customs clearance at a flat free. There are many who believe they need to hire a customs broker despite working with a company but it is not so. Compute all costs to import the product, include taxes, transport, customs duty and insurance costs. 

Determine a payment plan which suits you

If you work with an experienced international banker, this can let you finance the sale, guide you in determining the terms of payments and also recommend you on the risk factors before you carry forth business from the overseas market. Make sure you establish a good relation with the banker on the best economical way of structuring payments. 

Calculate the measurements and weight

If you have to calculate the costs of importing the products, you should know the measurement and weight of product cartons. Ensure the merchandise can enter freely in the country you live in. You also have to be aware of the restricted and prohibited items which can’t be imported. Make sure you check and again double-check the list to make sure you don’t disobey the rules of your nation. 

Once you’re stepping into the import industry, you should begin by following the above mentioned tips that are designed for the newbie importers.

Hiring a customs broker for your business – Necessary questions to ask him

Does your business rely on timely and smooth arrival of products in order to be called successful? If answered yes, you have to make the most appropriate choice with your logistics partner. Now the question is as there are several custom brokerages in the market, how are you supposed to choose the best one in the market? Let’s check out few questions that you should ask before hiring a customs broker for your organization. 

Question #1: What constitutes your bills?

One of the best things to do with a new client is to ask for an explanation of their previous invoice from their present customs agent. The most vital question is the meaning of this fee. You must have come across several invoices where you won’t understand the categorization of fees like ‘invoice integrity fee’, ‘administration fee’ or ‘email phone fee’. Clients often ask what they charge for phone calls, mails or for reviewing their invoices. How can they charge you extra money for doing such tasks? Be sure the broker you choose has a transparent billing system and follows a fair method of business. 

Question #2: Since I don’t import too often, why should I require a broker?

In case your business deals with goods which come across the border, you must have not engaged actively with the services of a customs broker or you may have had a customs broker with whom you prefer doing business. In reality, you don’t have any control over the costs that are billed on to you. The goods that reach your door usually come with a bill that you’re bound to pay, regardless of whether you import once in a day or once in a year. Hence, it is helpful on your end to have a customs broker who can take good care of your business. 

Question #3: Can you also arrange shipping for my products and goods?

Yes, most of the brokers can do that for you. In fact, majority of the clients love to deal with a similar point of contact for every aspect of their logistics requirements. The customs brokers can offer services via trustworthy freight forwarders through air, land and sea, both internationally and domestically. 

Question #4: Why does it show that my goods are duty free on your quote?

If you have already paid 6.5% on the same products with your last broker, chances are high that you can get back a refund on all your last imports. When you seek help of the brokers, they will not just make sure that the goods qualify under your country’s free trade agreements but they will also be processed in a proper manner. They should also help you with an audit of the last invoices and try for a refund for the money that you had mistakenly paid.

Responsibilities and duties of a licensed customs broker

Before you are ready to hire a licensed customs broker, you should know who they are and how they help you. A licensed customs broker will help the exporters and importers in meeting all federal requirements for shipments that travel internationally. They are also responsible for complying with the laws and regulations of the trade. If they violate any law or neglect their duties, the customs officials can issue penalties and fines.  Here are few duties of a customs broker.

Represents clients

In order to conduct customs business for another client, the customs broker needs to receive a power of attorney from his client. Clients usually issue them an unlimited power of attorney giving the broker the license to do any lawful deed during the transaction process. It entirely depends on the broker to verify the identity of the client so that he can be sure about having the authority to sign documents. Such power of attorneys stay put for up to 2 years.

Payment of fees and duties

Customs duties have to be paid within 10 business days of the entry of the product. Brokers can pay the fees and duties to the customs and send a bill to their clients. During the event of the importer having overpaid his duties or if the products didn’t remain in the US, the broker has to submit request forms asking for a refund or a drawback of duty fees.

Recordkeeping

The customs brokers also have the responsibility of retaining and organizing all customs-related documents in a systematic and orderly manner for minimum 5 years from the entry date. The brokers should also retain copes of the power of attorneys that are presently active. The revoked power of attorneys should also be kept mentioning that they have been revoked for 5 years. Each and every record of the client is confidential and the broker is only allowed to share details either with the customs or with the client. 

Therefore, now that you know every little detail on hiring a licensed customs broker, what are you waiting for? Hire one only after making sure you’re hiring a trustworthy and loyal broker who has your best interests in mind. 

Tuesday, 12 June 2018

Most Innovative Women Leaders

Earlier this month, a magazine published what they called the list of America’s 100 Most Innovative Leaders. The list included household names such as Jeff Bezos of Amazon and Elon Musk of Tesla tied for first place, in addition to CEOs of companies such as Apple, Netflix, Home Depot, and McDonald’s. Noticed by almost all media outlets and social media, though, was the lack of women represented on the list—only one female CEO was represented. The singular female CEO, Barbara Rentler of Ross Stores Inc., placed at the No. 75 spot.
Like many of our colleagues, we are frustrated by the lack of representation on recent lists recognizing impactful names in the world of business, so we are taking matters into our own hands. As equality, opportunity, and representation are key to what we work for every day here at Ellevate, we are recognizing powerful women in business through this list of The 25 Most Innovative Women Leaders.
Staying true the methodologies used in the past lists of similar nature, this list was created through the examination of CEOs of U.S. firms with greater than $10 billion market value, the 50 largest private U.S. firms to go public over the past five years and other U.S. firms within the top 100 companies on our most recent Forbes Most Innovative Growth Companies list; along with CEOs of S&P 500 companies.
It is our hope that women on this list, and thousands of other past and present trailblazing female CEOs and executives alike, can receive the recognition they deserve among their male counterparts.
Laura J. Alber, Williams-Sonoma
Alber became the CEO of the consumer retail company in 2010. Under her leadership, Williams-Sonoma, known for an impressive portfolio of brands including Pottery Barn and West Elm, became one of the largest e-tailer companies in the U.S. Alber was also included on Fortune’s“Business Person of the Year” lists in 2014 and 2015.
Mary Barra, General Motors Company
Joining General Motors at the early age of 18, Barra became the automotive giant’s CEO in 2014, making her the first female CEO of an automobile manufacturer. Barra is consistently listed on the annual Forbes Most Powerful Women list, with holding second place in 2018.
Corie Barry, Best Buy Co.
Previously serving as both the Chief Strategic Growth Officer and Chief Financial Officer of the multinational consumer electronics retailer, Barry was named as Best Buy’s fifth CEO(and the first woman to serve) in June, 2019. Barry has been moving upward in Best Buy for almost two decades.
Gail Boudreaux, Anthem
Boudreaux became the CEO of health insurance provider Anthemin 2017, making it the second largest U.S. company with a female CEO. Boudreaux is consistently ranked on lists such as Fortune’s 50 Most Powerful Women in American Business, Forbes 100 Most Powerful Women in The World, and is known as a key innovator in her industry.
Heather Bresch, Mylan
Making her the first woman to become the CEO of a Fortune 500 pharmaceutical company, Bresch officially took over the position in 2012. In addition to making Fortune’s list of 50 Most Powerful Women, Bersch was also named the recipient of the EY Global Impact of the Year Award, both in 2014.
Michele Buck, The Hershey Company
After serving as the Chief Operating Officer of the chocolate and food manufacturing giant, Buck became the first woman CEO of The Hershey Company in 2017. Under Buck, Hershey announced the acquisition of Amplify Snack Brands, still the largest deal to date in the history of The Hershey Company.
Ursula Burns, VEON
Burns became the CEO of the telecommunication giant VEON in 2018. Prior to her position at VEON, Burns became the CEO of Xerox in 2009, becoming the first Black woman CEO of a Fortune 500 company. In addition to her success as CEO, Burns was a leader of the White House STEM program from 2009 to 2016.
Debra Cafaro, Ventas
Cafaro joined Ventas, a healthcare real estate investment trust, in 1999. Under her leadership, Ventas became the most successful financial publicly traded company for the first decade of the 21st century and in 2018.
Safra Catz, Oracle Corporation
Catz became Co-CEO of the multinational computer technology company in 2014, along with Mark Hurd, after serving as the Co-President and Chief Financial Officer. As of 2017, Catz is also the highest paid female CEO of any U.S. company. Born in Holon, Israel, Safra Catz moved to Massachusetts at the age of six.
Mary Dillon, Ulta Beauty
Dillon has been the CEO of the cosmetics giant since 2013, overseeing the operations of over 1,100 retail stores across the United States. In addition to being named one of Fortune’s most powerful women and Barron’s best CEOs, Dillon was also awarded the Sandra Taub Humanitarian Award for philanthropic leadership,
Beth Ford, Land O’Lakes
Ford was appointed the CEO of Land O’Lakes, one of the nation’s largest cooperatives, in 2018. Ford is not only one of the limited number of women on the Fortune 500 list, she is also the first openly gay woman to become the CEO of a Fortune 500 company.
Michelle Gass, Kohl’s Corporation
Gass has been the CEO of Kohl’s, a department store retail chain, since 2018. Throughout her time, Gass continues to oversee a number of initiatives including customer loyalty and speed to market efforts.
Lynn Good, Duke Energy
Good became the CEO of Duke Energy, an electric power holding company, in 2013. In addition to being one of the highest-compensated women executives in the United States, Good is also known for her efforts to bring Duke Energy to a net-zero carbon emission by 2050.
Tricia Griffith, Progressive Corporation
Serving as the CEO of the insurance company since 2016, Griffith is the first female to hold this position at Progressive. In addition to consistently being featured on the lists of most powerful women in business, Griffith is also known for establishing the first diversity and inclusion programs at Progressive as the CHRO.
Marillyn Hewson, Lockheed Martin
Since Hewson became the CEO in 2013, the global aerospace, defense, security and advanced technologies company’s market cap has doubled. Recently in 2018, Hewson was named CEO of the Year by Chief Executive magazine and has been awarded the Edison Achievement Award for her leadership and achievements in making a lasting contribution to the world of innovation.
Vicki Hollub, Occidental Petroleum
Hollub became the CEO of Occidental Petroleum in 2016, making her the first woman to assume the role of CEO at a major American oil company. Previously, Hollub served as the Chief Operating Officer of the oil giant, as well as overseeing the Latin America region.
Abigail Johnson, Fidelity Investments
Johnson was named the CEO of Fidelity Investments and its international sister company Fidelity International in 2014. Johnson has also consistently been on Forbes’ most powerful women in the world list, holding the 5th spot in 2018.
Margaret Keane, Synchrony Financial
Keane has been the CEO of the consumer financial services company since 2005, making her one of the two woman to lead an independently traded US bank with a value over $10 billion. Margaret Keane was also a speaker at Ellevate Network’s annual Mobilize Women Summit in 2018.
Beth Mooney, KeyCorp
After serving as the Chief Operating Officer, Mooney became the CEO of KeyCorp in 2011, making her the first woman in history to hold this position at a top-20 U.S. Bank. After years of service, Mooney is said to retire in May of 2020.
Ginni Rometty, IBM
Joining IBM in 1981, Rometty has been serving as the CEO of the multinational information technology giant since 2012. Rometty has also received numerous awards, including the 50 Most Influential People in the World by Bloomberg and 20 Most Important People in Tech by Time.
Lisa Su, Advanced Micro Devices(AMD)
The Taiwanese American business executive became the CEO of AMD, a multinational semiconductor company, in 2014. Among numerous awards, Su was featured as one of the Top 100 Young Innovators by MIT Technology Review, Businessperson of the Year by Fortune, and 50 Most Powerful Women in Technology by the National Diversity Council.
Julie Sweet, Accenture
Sweet became the CEO of the multinational professional services company recently in September of 2019, after her prior role as the CEO of Accenture North America. Called“one of the most powerful women in corporate America” by The New York Times, Sweet is consistently featured on Fortune’s Most Powerful Women list. Ellevate Network is a proud partner of Accenture.
Jayshree Ullal, Arista Networks
Raised in New Delhi, India, Ullal was named the CEO of Arista Networks, a California-based cloud networking company, in 2008. In addition to leading Arista Networks to an IPO in 2014, Ullal holds many awards and honors, including being”one of the top five most influential people in the networking industry today” by Forbes magazine.
Joey Wat, Yum China
Wat has served as the CEO of Yum China since 2018 and is consistently named as one of the most influential business leaders in China. Incorporated in the United States and headquartered in Shanghai, Yum China is best known for its famous fast food divisions KFC, Pizza Hut, and Taco Bell.
Mary Winston, Bed Bath & Beyond
After the stepping-down of Steven Tamares, Winston was appointed as the interim CEO of the domestic merchandise retail chain in early 2019. Winston thus became the first Black woman to lead a Fortune 500 company since Ursula Burns’ resignition as Xerox’s CEO in 2016.

Tuesday, 22 May 2018

Business Need A Professional Project Manager?

Does Your Business Need A Professional Project Manager?

In case you are a follower of company policies, there is no doubt that you might know what a project manager is. Every single person in the company wants to be a project manager in the hopes that they will get to shine and then impress people heading the company each week during the task evolvement process. Sparks tend to fly and there are some good as well as bad decisions made as well. However, most of the times in the case of projects, there are some failures as well. The only reason behind this is that the projects don’t really have a manager to manage them.

Even though there are some people who become the project manager, they don’t have the necessary training that is essential. They don’t have an idea of the things that are needed in order to make sure that the project is always on track for sure. So, there is no doubt that a business would require a proper project manager who can fit in the responsibilities which are required to become a project manager in the best way. If you have a business like this, there is no doubt that having a project manager is going to work for sure.

Top Reasons Why Having A Project Manager Is Important

Project management is something that can seem easy until you actually get to try it once. The correct fundamentals of properly managing a project right from scratch and finishing it would require the hard work and dedication of a team of different members that have unique skills and talents in the first place. Those are the people who are actually responsible for the execution of the goals and objectives of a project.

That is something which requires something which is more than materials and labor as well. Every single project comes along with a life cycle. So, getting a proper plan for the completion of the project is something that would be able to differentiate between failure and success. Mastering the art of project management and specific techniques such as WBS so that the project can actually get completed in time is something which might take some effort but it is actually worth it.

Here are some of the main reasons why having an individual to handle the project management is really important for the business these days.

Providing A Plan

When it comes to certain projects of a company, these can tend to be a little bit chaotic for sure. One of the main functions of project management is to ensure that planning and organizing of business projects happen in the most important way. The individual project manager would actually have a clear and mapped out path right from the very beginning to the end of it. Hence, the goals of the project are outlined in the clearest way which can minimize the chaos and in turn provide some constructive results in the best way.

Establishing A Proper Schedule

Where do you think a project would go if there is no particular schedule to save it in the first place? There is simply not a single speck of doubt about the fact that if there is not a single schedule to govern the project, the work would be delayed and it can harm the reputation of your business in the worst way. Surely, you don’t want that to happen to your business in the first place right? With more delays in the work, the cost will get increased a lot as well. This can be harmful to the company and hence having a proper schedule to govern the project can help in the successful completion of it for sure.

Encouraging Teamwork

When we talk about project management, having a project manager to govern the team will encourage them to have teamwork as well. There are certain people in the team who will be able to share the ideas that they have and this can cause inspiration in others as well. When there is collaboration in the team, it can lead to better results such as effective management, planning, and execution of the project. So, in a way, with the help of project management, the team members will definitely be inspired to work harder and hence produce some great results for sure.

Maximization Of Resources

Here is one of the main reasons why having a project manager is important for the business. Whether it is a human resource or just some financial one, these can be a bit expensive for sure. In case you are enforcing some of the amazing disciplines of project management in the company with the help of your project manager, there is no doubt that there will be a maximization of the resources. Now how that is possible, one might ask. To be honest, the project manager would bring about some changes such as risk management and project tracking for sure. This can be a great help in the case that people can actually get all information about the risks that surround the company. Hence, employees can work to have more resources in the best way.

Cost Control Options

When there is a project manager for the business of yours, the company can rest easy knowing that there will be some sort of savings in the cost for sure. There are certain projects that tend to charge a higher amount for sure. So, the performance of the company budget is something that people need to have a look into. Having a project manager to see such cost requirements is actually going to help a lot in this case. The project manager will be able to decide the areas where the cost can be saved and hence the company won’t have to go through facing the loss due to some budget overruns in the best way. Hence, it is important to take care of that for sure.

So, these are some of the main reasons why having a project manager is essential for your business. Make sure to search for the right candidate.

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