Tag Archives: Demand Media

Key Business Success Factors

By Lisa Nielsen, Demand Media

Key Business Success FactorsSmall business owners and managers need a way of gauging their success, but the benchmarks for one business type may be different from another type of business. Still, critical success factors are common to most businesses that assist management in measuring whether they are on track toward reaching profit and market share goals.

Employee Attitudes Drive Growth And Change

Attitudes drive behaviors that result in change. If your employees do not take initiative, make suggestions, happily stay late when necessary and strive to do their best work all the time, your business will certainly stagnate. A key business success factor is a motivated and committed workforce. Without that, no amount of vision and planning will provide the framework for growth and prosperity.

Technology Utilization

Avoid keeping up-to-date with technology at your own peril. The company that utilizes technology to open up new markets, serve customers, increase efficiency and new product and service development has the better chance of besting competition. This success factor, along with your motivated workforce, can also help you weather business downturns.

Financial Success Factors

Most business owners will first measure success in terms of financial factors. But, while a business needs to make a profit to survive, if the right technology and workforce are not in place, profits will be more elusive. Profits, though, are a key measure of success along with positive cash flow, a manageable debt load and a drive toward efficiency in holding down variable costs, among others. Financial success indicators may also be different from one industry to the next.

Global Footprint

Even if your business is strictly local, the size of your global footprint is important to your future and is a measure of your success. In today’s world of instant communication, you have the ability to share information, develop new products and open new markets more easily than ever before. Examine ways to expand globally and make it a part of your plan that is continually reviewed and graded.

Marketing Consistency

Many firms make the mistake of not carefully overseeing their marketing message. They have different messages going out to the same audience at the same time which confuses potential and current prospects. Companies with a consistent message across all media platforms, such as websites, paid media and other forms of marketing collateral, are the more successful marketers. Marketing consistency is a success factor that any company should not overlook.

Lisa Nielsen is a marketing consultant for small businesses and start-ups. As part of her consultancy, she writes advertising copy, newsletters, speeches, website content and marketing collateral for small and medium-sized businesses. She has been writing for more than 20 years. She is also a business strategist, trainer and executive coach. Nielsen holds a Master of Business Administration from the University of Miami.

Role of HR in Achieving Business Goals

By Sherrie Scott for Demand Media

HR helps businesses achieve their goalsHuman resources professionals have many roles within an organization. They are responsible for formulating strategies that focus on recruiting and retaining top employees as well as overseeing projects that promote company-wide productivity. Most human resources departments control the overall operations of a business, making the department a key component of a company’s success in achieving its objectives.

Training and Development

Human resources specialists often are charged with creating training programs to strengthen the quality of work within an organization. The Bureau of Labor Statistics indicates that “enhancing employee skills can increase individual and organizational performance and help to achieve business results”. The role of human resources in training and development includes assessing training needs, creating training manuals, facilitating instruction and ensuring training objectives have been met.

Employee Acquisition

An organization’s human resources department is responsible for many aspects of hiring and developing employees. According to the Society for Human Resources Management, employee acquisition and retention strategies are vital to the success of a company. Human resources managers implement these strategies to reduce turnover, improve employee skills and increase overall company production.

Project Management

Deliberate planning methods often are overlooked when conducting a company project. According to the CUPA Human Resources Journal, project management can be a critical tool for the HR organization in meeting an institution’s strategic goals.  Human resources involvement in project management helps companies remain organized by outlining project goals, identifying costs and benefits and assessing the risks of the project.

Compliance Management

Human resources managers handle the labor relations and dispute resolution operations of a company. Their role is to ensure that the organization is familiar with government regulations in regard to wage, labor and equal opportunity requirements. Strict compliance management can help a company avoid lawsuits and liabilities when disputes arise between employers and their employees.

Cost and Quality Control

Human resources specialists help businesses conserve costs when developing compensation packages, benefit materials and employee assistance programs. Further, technological advances increase the need for highly developed training programs that HR representatives are most qualified to implement. Human resources managers also are responsible for quality control, which is directly related to the successful accomplishment of company goals.

Sherrie Scott is a freelance writer in Las Vegas with articles appearing on various websites. She studied political science at Arizona State University and her education has inspired her to write with integrity and seek precision in all that she does.