• Small Business Bookkeeping Tips


    As a business owner, there is never a small detail of information to be recorded. Thus, having a back-office basic of your small business accounting practices in order will keep you out of unnecessary paperwork and financial chaos, allowing you to focus on other essential aspects of growing and managing your business. Although you might get away with keeping your records from the start, but as your business grows and tax time approaches, you may feel somewhat lost. Expenses for inaccurate bookkeeping can be high, and so also the time you spend in rectifying those blunders. Bookkeeping is fundamental in all businesses. It helps you plan and manage your business operations. It might occur t...
  • Reasons Why Financial Forecast is Important for Your Business


    Ever wondered what financial forecast is, and whether you needed it? When most start-up companies work and hope things work out, Financial forecast prepares you for the worst, giving you a smooth and more predictable outline of events. A forecast is a blueprint that gets you from your potential point to the final destination. It utilizes chronicled information and analysis of the industry and practically identical organization patterns to illuminate your best courses of action and foresee the results. A financial forecast gives you the reins to move your organization where you need to go in all aspect of success. As it is well known that finance is the backbone of any organization, be it...
  • How to perform benchmarking for retail?


    When you want to be the best it is worth analyzing the competition, not to copy it but to perfect, for this there is benchmarking for retail . Keep reading, and you will learn! The success of sales is largely dependent on the quality of the services provided, the customer experience can be positive, negative or even generate “indifference,” but the idea is to make every physical or virtual contact with the store enriching and able to create loyalty ties. Achieving a relationship of loyalty with the customer goes beyond the commercial, we can say that it is necessary to establish a friendship with it and work permanently to cultivate and strengthen it, which leads to the need to review u...
  • Business intelligence and big data how do they apply to the retail sector?


    The information has become the greatest asset of the retail sector, so it is essential to understand how business intelligence and big data work. Learn here to get the most out of it. Every movement made by a customer in the store generates data, which helps to understand their preferences better and understand their behavior, hence the need to keep a strong record and more importantly to be able to analyze this data. Understanding the value of the use of data in retail, it is not surprising that nowadays data analytics is being applied at each stage of the retail process, allowing us to know in advance what the demand for products will be, Which clients will be interested in buying the...
  • 6 ways in which Artificial Intelligence is helping retailers


    Retail is advancing at the pace of technological evolution and is now looking towards a growing trend. Discover here how Artificial Intelligence is helping retailers. When the e-commerce took off in the way it did, all those responsible for the retail predicted the end of physical purchases as we knew them. The novelty and glamor associated with physical purchases were replaced by the endless conveniences and corridors that retail e-commerce brought. From these important changes in the sector, the laggards are learning very quickly. In fact, if you see the employees of a modern store, you will start to see more analysts, data scientists and digital innovation roles, unlike the old shop ...
  • Why should I invest in Business Intelligence for a store?


    When asked why you should invest in Business Intelligence for a store, the answer will be measured in higher sales. Next, we explain how. Under the concept of “data-driven stores” Business Intelligence is born, given the need to take advantage of the infinite amount of data generated within the commercial activity and that can be very useful in the retail area. Ignorance of the possibilities offered by the analysis of data becomes a disadvantage for modern retail companies since the vast volumes of quantitative data collected daily will allow better management and control of consumer preferences. But before delving into the mystery of why should I invest in Business Intelligence for a ...
  • 5 business intelligence trends for 2019


    The hard work that is done inside the store is not enough to be the best, that’s why new Business Intelligence Trends have emerged for this 2019, designed to help you succeed Discover what they are! First of all, we must make clear the meaning of the term Business Intelligence (BI), which offers the possibility of observing in detail the past of the company through analysis and reports, this occurs from the historical information of the business. The vertiginous changes that business presents go hand in hand with technology, which is why it is necessary to constantly review business intelligence trends, because what used to work, today may not be so useful. Below we detail the top 5 bu...
  • Vroom-Jago Contingency Model


    The Vroom-Jago is a situational leadership model utilized by leaders to decide if they should settle on a choice alone or include a gathering, and to what degree the group ought to be included. The Vroom Yetton Jago Decision Model picks the correct style by having the client answer a progression of inquiries with an either yes or no with the questions presented as a decision matrix. In the wake of the answers given to the questions, the client quickly observes what strategy best suits the situation at hand. As indicated by the model, three specific components have a direct impact on the strategy for essential leadership: quality, joint effort and time. Hence the sequence of the question...
  • Values-based leadership


    Values-based leaders are our natural motivators. Although, it is natural for leaders to refer to their values in creating a vision or making decisions. However, it makes absolute sense for leaders to connect with their followers’ values which makes them more likely to act. Value-Based Leadership is defined by Richard Barret as “a way of making authentic decisions that build the trust and commitment of employees and customers.” So, by definition, values-driven leaders will dependably act from their most astounding qualities. Values-based leaders know their values and what they believe in and hold them firmly; they also earn respect and admiration from their followers through the firm adh...
  • SWOT Analysis How to Use Before You Do Your Strategic Planning


    SWOT analysis is one of the main tools in support of Strategic Planning. With that in mind, we decided to talk more about how to use SWOT Analysis to start doing your Strategic Planning. What is SWOT Analysis? SWOT analysis is a management tool created decades ago and used until today for you to analyze the external and internal environments that your company finds. With it you raise the Forces and Weaknesses (internal environment) and the Opportunities and Threats (external environment) that affect your business. How to do a SWOT Analysis? To get started you need to list all the strengths and weaknesses of the company. You can brainstorm with your team to list all of these options. One...