3 Cardinal Business Investment Rules You Must Not Break

There are many different aspects to think about when it comes to investing your business profits. Before you jump into investing your hard earned money you should think about risks associated with those investments and ensure you don’t end up losing all the profit, and some. It helps to establish certain rules for yourself that you can follow and ensure you don’t deviate too much from them. These rules can be different for different people depending on their unique situation and risk tolerance. Below we provide some common rules that you can use as a guide to come up with your own.

Only use your surplus

First of all, getting into black with your finances is a significant achievement for any startup business. It can take a year or two for things to reach this stage, but you should be wary of what you do with your spare cash. While it can be tempting to look at investing those profits somewhere, you still have a little work to do. Your first goal should be to set up a safety net in the form of an emergency fund.

Aim to have at least six months’ worth of cash you can easily get your hands on before making any investment. This will protect your business in a more robust way and help you get through problem periods with ease. Once the fund has been created and has enough money in there, only then can you think about using your surplus for investments.

Invest in other types of businesses

A lot of small business owners will take all their profits and invest them in their own company. This is necessary to grow, of course. However, putting all your eggs in one basket is always a significant risk. If all your assets are in one area, it’s going to cause serious issues if there is an economic downturn. It’s also protection from when there is an explosive development in your market.

Workplace Safety Tips All Employees Must Follow

No matter how many policies and guidelines are laid out for workplace safety, it’s impossible to have a work environment that is hazard-free without ensuring that all employees are aware of those guidelines and put them into practice. A safe working environment is based on how all workers of all levels adhere to and communicate about safety standards at work. The foundation of any workplace that is safe with minimal risk of hazards and danger is one which encourages employees to identify any hazards and unsafe behaviors which they see as well as offer their own suggestions for improving safety.

Be Aware of Your Surroundings

The number one tip all employees should know is that being aware of their surroundings at work can help to prevent accidents and injury. Ensuring that all employees know how things should be laid out and how to quickly spot if anything is wrong can help to keep risks and hazards to a minimum as workers will be able to report anything which seems off straight away.

Use Correct Posture

Even employees who work at office jobs can be injured by not having the correct posture. All employees should be advised of correct posture in order to be avoid being hurt. Those who work at desks should keep their shoulders in line with their hips in order to avoid back problems. For workers who have jobs that involve bending and lifting heavy objects, it’s important for them to understand the correct posture and procedures for doing this so as not to injure themselves.

3 Ways to Improve Reputation of Your Business with Customers

After creating a high-quality product, hiring experienced and professional staff and launching your business, you might think that a great reputation will naturally follow. However, modern day businesses are struggling to build that rapport and trusting connection with the customer. There are number of ways that you can improve the perception of your business though, no matter what your size or budget. Here are the top three to get you started…

1) Invest in a good website

Gone are the days when companies could get away with a single homepage with static content. When a consumer comes across your advertising or hears your name, they will instantly search for you online before making any action to get in touch with you. Your website today is a symbol of you as a company, so if it’s out of date, they’ll think the same about you, your ideas and your products. Seen as well-functioning and bespoke websites can be created even on the smallest budget these days, there really is no excuse for you losing out to the competition.

2) Create strong social media presence

If a website comes first, then an active social media presence is the second most crucial part of running a modern business. By creating social media accounts, you’re reaching out directly to the consumer and to the industry, so the wealth of knowledge you can receive about them (as well as what they think of you) is limitless. It can also become a strong feature in your customer service team, as statistics suggest that 33% of customers prefer to contact companies via social media channels rather than by telephone. If you aren’t regularly active where your customer is, this could have massive implications for your reputation.