4 Ways Startups can Save Cash

Now that tax season has rolled around, you're probably thinking about all your expenses as a small business owner. At the end of each year when you look at what you've spent, you realize just how quickly it all adds up. If you're self-employed or running a small business, saving every penny is important. Here is how Alex F. Bouri did it when he started Seament.

Sharing an Office

Not everyone has the luxury of being able to have a home office. Sometimes the business is too large for a home office, but too small for an office building. If this is the case for you, consider coworking, or sharing an office with another small (but not small enough) business. You can split rent costs and even find other businesses that would be useful to partner up with. It's refreshing to have another team to bounce ideas around with, plus, you're saving money. Sharedesk is a great resource for finding someone to share office space with.

Social Media Marketing

Having an advertising team is a big cost, but as a startup, it's important to generate some branding. Believe it or not, a lot of today's businesses are having success just with social media. Create a Facebook, a Twitter, and perhaps even a YouTube account, and make sure they're all branded with logos and tones. Host contests to get people to like your page, and have friends, loved ones, and other local businesses spread the word.

Be Loyal

Many vendors are pleased to make relationships with their clients. If you show your vendor that you are a loyal customer, they might just cut you a deal – especially if you show them that you're in it for the long-term. Be sure to discuss your business goals with your vendor and let them know which products do well for you. Order in advance and always pay on time. You might be rewarded in the long run.

Bargain Shop

For small things that are necessary to your company, like paper, labels, and even transportation, be sure to bargain shop. Never buy anything without being certain that you're getting the best deal. As we said before, you don't realize it at the time, but small things add up over the course of the year!

5 Tips for Breaking Into an International Market

Today's technology gives us access to so many vehicles for breaking into markets abroad. Having the tools to go global with your company, however, doesn't mean that you have the skills to do so. Since international firms tend to make bigger profits, grow more quickly, and are less likely to go out of business, it's easy to see why you'd be eager to break into a new market. Just look at what happened when Alex F Bouri took his company, Seament, international: he changed the cement industry forever.

So, yes, breaking into a new market is advisable. But these tips from Alex Bouri will help you to do so more wisely, and hopefully more successfully.

Look Beyond the Obvious Cities

You'd be surprised to learn that some second-tier cities are easier to make revenue in, due to being less competitive, than larger, more "obvious" cities. For example, in India, better-known cities such as Bangalore are already saturated with certain industries, but smaller cities like Ahmedabad and Nagpur could make for a great place for your product. Plus, they also have highly skilled and eager talent to choose from.

Seek Advice

You're not alone in your exporting endeavors. In fact, there are plenty of resources for you to access before taking the first big step, such as government-run trade and investment bureaus. You could also contact other non-competitors who have already paved the way in your destination locations to ask for advice.

Research

Crunch the numbers to figure out if the location(s) you've chosen to expand to have a market for your products and whether your company will be able to compete with local firms when it gets established. If you can safely say "yes" to both of those questions, then you need to delve further into your research, such as figuring out how you will advertise, what taxes are like, and how to finance a property.

Be Flexible

In your new location, how quickly and easy will you be able to upsize or downsize? You never know what your business's progress is going to be like, so no matter what comes your way, you need to be ablet o sustain it. If you need to hire 50 more employees on the spot, will your premises support that? Can you bring on remote employees? Flexibility is invaluable in a situation like this.

Learn the Culture

When the time comes that you want to start marketing, making partners, et cetera, it's important to know the etiquette in order to avoid rubbing anyone the wrong way. Learn the "rules," whether it's receiving a business card with both hands or removing your shoes indoors, in order to avoid making any enemies or giving your company a bad reputation.

How to Boost Employee Productivity

With the current status of the economy many business owners think that simply having a job and getting a paycheck should motivate employees to work hard.  Unfortunately, this is not the case, and companies, both big and small, have to motivate their employees to be productive via rewarding them.  Mark Bouri, owner of the global company Seament, implements some of the below tips into his day-to-day operations so his staff is always producing.

§  Don’t Be a Micro Manager – When employees are asked what one of their biggest pet peeves are – they’re likely to say that it’s having a manager that micromanages everything they do.  It’s very important to find the balance between managing your team but not breathing down their necks and watching their every move.  While some employees need a lot of supervision and need to be given direction and assistance, others are able to hit the ground running.  It’s important to keep in mind that micro management doesn’t allow employees to think for themselves, so in the long run it can paralyze your company.

§  Set Realistic Goals and Celebrate – A great way to naturally motivate your staff is to set realistic goals for them to work towards. Once the goal is met celebrate or reward your employees.  You can make the reward monetary or treat them to a conference that the company will pay for.  Rewarding your employees for the hard work they put in makes them want to continue to work hard because they feel appreciated.  Keeping your employees happy makes them feel like their effort is being recognized and will prevent them from not putting their best effort forward every day.

§  Make Your Employees Accountable - To keep your staff working meticulously they need to be aware that they are accountable for their actions and decisions. They will also be more likely to not make rash decisions and not take advantage of their position because they know that you’re supporting them and depending on them to do their job the correct way.

Mark Bouri, owner of Seament, has learned that when you put trust in your employees and reward them when they work hard, productivity will soar. Keeping your employees motivated and appreciated are the secrets to boosting your company’s productivity. Staff members admit that when they’re recognized, they don’t want to disappoint their bosses.

How to Make Your Company Stand Out in 2014

A desire to see their company succeed is something that drives almost all members of the business community. Whether the company is a large corporation or is family-owned, like the one Maurice Bouri works for, the formula is simple: customers = money. That being said, consumers are constantly exposed to new products and services on a daily basis. In order to stay competitive, it is important that companies learn how to make themselves stand out in 2014 and beyond.

Find or Create a Niche

In order to attract customers, you need to understand where they are and what they want. Prior to launching your company, take some time to scout out your potential competition. Not only will this give you an understanding of what you are going to face when you open, but you may also learn what the competition doesn’t have. If what they don’t offer is something you can provide, jump on it -- ensure that everyone knows through your advertising that you are able to fulfill that need.

Many industries are tough to break into; however, if you create a unique approach or niche for your company, then you may find it easier to succeed. For instance, if you have many talents that can easily be united into a single business, combine them. This way, you can offer one stop shopping to your customers. People are constantly moving, so the more they can get done with one visit the easier it is on them.

Create and Maintain an Online Presence

We are officially deep into the digital age. Even if you choose not to embrace much technology in your personal life, it is important that you do so professionally. The majority of society interacts with technology, either through their phone or online, at least once a day. Make sure they know where to find you when they need you.

After creating your website, consider creating a blog or allowing one of your employees to create and maintain one for you, as Maurice Bouri does for his company. Become actively involved in social media as a way to stay on top of trends and get a jumpstart on what your potential customers are looking for. Make sure to keep your online presence fresh so that current clients as well as potential ones will stay interested.

Helping your business stand out from its competitors is going to take time. Don’t become entrenched in one stale strategy and forget about new ideas and growth! Ensure that your potential clients know what separates you from your competitors and focus on those strengths.

Giving Building Materials a New Lease on Life

The idea of reduce, reuse, recycle is something that many of us learn from a young age. It is not only a good way to teach young children how they can care for the environment, but it is also something adults should keep in mind. As you look to freshen up your home or place of business this year, take some time to really look at the materials you are going to be replacing. If you are going to be using a lot of building supplies, you may even consider contacting Mark Bouri for assistance.

Recycle

Recycling is one way consumers of all ages can help reduce the amount of waste in landfills. Before you fill up the first trash bag or rent a dumpster to clear out the building, take a close look at the materials in question. Can any of them be donated to a charity or are they worth any money in terms of scrap? Charities are always looking for donations and will gladly take a wide variety of items off your hands. Certain products built in the past may contain a lot of steel or other metals that have since been replaced by cheaper materials. Instead of just tossing them, see if they could be utilized by someone else.

Reuse

Reusing or repurposing any items that are salvageable may make a world of difference to your next project. For instance, if you are looking to restore an older home back to its original glory, reuse as much of the original as you can. Not only will this help keep the history of your building intact, but it will also reduce the amount of waste created by the project.

If you have no use for the leftovers in your next project, but they are still in good shape, consider donating them to a friend or charity. You may even want to give them to an organization such as Habitat for Humanity, which can use the materials in one of their developments.

Create New

Instead of trying to keep an item in its original form, reuse it to create something new. For instance, Mark Bouri and his company are able to take environmentally friendly repurposed items and create new products and structures for their clients. This gives you an opportunity to place a unique touch on a project that may need just a little something more to help it stand out.

Becoming more environmentally aware is something we should all be doing. Whether you recycle small items or reuse large ones, take the time to give items a new life. It will give you a chance to be creative and help the environment!

Essential Advice For Being An Excellent Leader

When you’re running a business like Charlie Bouri, or are taking charge of a big project, you need to learn how to be a good leader.  Some people think that you have to be a natural at management and leadership to be able to do it well, but you can easily learn skills that will help you become a better leader.  If you’re going to be in a leadership position, follow these tips to ensure that you’ll be the leader that you need to be.

Avoid Blaming

Playing the blame game in a managerial situation is sure to result in a lot of missed opportunities.  Your employees may have messed something up, but in the end everything comes back to your managerial skills.  You don’t have to avoid mentioning someone else’s mistakes, but you shouldn’t immediately set out to pin a problem or setback on someone.  If you consistently get angry and blame your employees for problems, they’ll be less likely to come to you when there are actual problems.

Cut Your Losses

Nobody likes admitting that they’re wrong, but sticking to something that clearly isn’t working to seem competent is a big mistake.   When you find out that original idea you had for a project isn’t going to work, don’t stick with it and hope that it’ll sort itself out later.  If a new hire you brought on has been turning in inconsistent and bad work, don’t give them a few more months to figure things out when it’s apparent that they aren’t doing a good job.

Lead By Example

If you tell your employees that they should work hard and put in extra hours on a project, they won’t take your words to heart if they see you taking half days three days a week.  Being a manager shouldn’t put you above your own rules, and if you practice what you preach your employees will notice it.  Obviously there are some exceptions to this rule, but if you want your employees to trust your leadership skills, you’ll need to show them that you’re more than capable of living up to your own standards.