5 Cost Reduction Strategies for Lowering Business Overhead
Learn five simple cost reduction strategies, recommended by the experts at Davinci Virtual Offices, sure to significantly lower overhead while improving efficiency and sustainability across your entire organization.
Limit travel expenses
On average, small businesses spend more than $2,500 each quarter on travel, including expenses for airfare, accommodations, dining, and car rentals. Reduce the amount your business spends on travel and hold teleconferences whenever possible. When travel is necessary, find cheaper lodgings and book flights in advance.
Cut energy costs
Create long-term savings by tackling your energy bill. With multiple small changes, your office energy bills can drop significantly. Turning the thermostat down two degrees, unplugging electronics when they’re not in use, and switching to compact fluorescent bulbs could save you approximately $500 each year!
As the time to show thanks draws near, you may be thinking about the right gifts for your administrative professionals. After another year with the help of their invaluable help, you want their gift to be personal and meaningful. If you are struggling to come up with ideas, here is a list of five fantastic ways you can show thanks on Administrative Professionals Day.
Generation Y has been called many things: entitled, lazy, and perhaps unconventional. However, many businesses are realizing that not only does Gen Y work hard, oftentimes they become the best employees you could imagine.
As baby boomers are leaving the workforce and retiring, Gen Y employees are flocking to the corporate sphere, bringing with them their tech-savvy knowledge and unmatched ambition—but they aren’t seeking what their predecessors valued in a workspace. Gen Y job-seekers are looking for flexibility and innovation.
If your business needs fresh ideas, proficiency in the latest technology, and continuous innovation, hiring Gen Y employees can help your business flourish and ensure your company’s success for years to come. While competitive salaries might help you stand out among the many other businesses making offers to millennials, Gen Y is looking for so much more.
As the U.S. economy bounces back and skilled workers are finding it easier to get jobs with better pay, as much as 40% of employers report difficulties filling positions. But there is still much debate surrounding the looming talent shortage: is it because the pool of qualified candidates is dwindling, or is there a fundamental issue with businesses’ current recruiting practices?
Increased competition with other companies to recruit the best candidates is troubling for many employers because it increases employee turnover, reduces productivity, and impedes their ability to meet the needs of clients, ultimately costing businesses thousands of dollars.
The problem may not be with the candidates themselves, but with recruiters’ unrealistic expectations. If employers take a step back and reevaluate their hiring process, they can overcome the struggle for talent acquisition and retain skilled workers for long-term success.
Here are the top three ways businesses can quickly find the right fit for their open positions: Read more...
Discover the five must-have business tools, recommended by Davinci Virtual Offices, to keep your business competitive with low overhead while maintaining that personal feel necessary for great client relationships.
Google Analytics Platform
Site traffic data is necessary, but finding cost-effective analytic tools can be difficult. Google Analytics is a great free tool offering comprehensive reporting and easy site integration.
JIRA Task Management
JIRA is an organizing, task-management tool that acts as a tracking system for all phases of a project. JIRA’s system allows you to organize items by task phases, assignees, dates, etc.
Virtual Office Services
At a much lower cost than paying for an office space lease, you’ll have access to fully serviced meeting rooms, conference rooms and office workspace whenever you need it – paid for by the day, or hour. Read more...
In order to advance as a small business, it’s important to follow the latest small business trends. But with an overload of information available, it’s sometimes difficult to know what trends are pertinent and what ones are just extra noise in the media.
To simplify your search, here are five small business trends you should have on your radar to stay ahead throughout the coming months:
Use These 5 Steps to Create a Marketing Plan
Having an ineffective marketing plan is one of the several reasons why many small business startups fail. In the linked article below, you can learn how to write a marketing plan from the very beginning by creating a “situation analysis,” describing your target audience, listing your marketing goals, developing a strategy, and setting a budget. Following these five steps can help you initiate a strong marketing plan specifically targeted to your niche market while staying within a previously defined budget. Read more...
The last few years have brought some of the most dramatic and meaningful change to business operations and services that we’ve ever seen. With the accelerated maturation of smartphones, tablets, and other mobile devices, it’s not only possible, it is actually common, to find entrepreneurs who conduct their business operations without offices, staff, or any office hardware beyond what they can carry in a messenger bag. These business owners are known as “Mobile Entrepreneurs,” and they’re taking over in just about every industry as they prove to be more flexible, more readily available to new and current clients, and overall quicker to respond to business opportunities. In this week’s Davinci 101, we take a quick look at the mobile entrepreneur’s tools of the trade.
Today’s mobile entrepreneur needs very little to get a lot done. The essential tools include: a smartphone, a virtual office, a personal computer, a tablet, and a live receptionist service. Read more...
The life of an entrepreneur isn’t for everyone. It requires a lot of passion, dedication, and independence. Simply put, it is not for the faint of heart. However, it can be incredibly rewarding when a business idea takes off.
If you are thinking about starting your own business, consider ten signs the entrepreneur life is right for you:
You’re a thinker.
Entrepreneurs are always thinking, whether it’s about an exciting idea for a new product or service, or how to innovate in a competitive industry. If you daydream about starting your own business, you would find comfort in finding ways to implement all of your great ideas as an entrepreneur. Read more...
Going solo is a very appealing venture for many real estate agents currently under the umbrella of a bigger broker or firm, but it’s also surrounded by a lot of stigma within the industry.
However, there is much to be gained by leaving a company and deciding to make it on your own, like newfound freedom, independence, and yes—even higher salaries. Many of the cases against going it on your own are perpetuated by five lies:
“You can’t afford the operation costs.”
Starting your own real estate business does have certain costs, but with proper planning, operating costs should not extend past general start up costs. On average, start up costs can run about $1,500-$2,000 for necessities like licensing and insurance. However, if you operate your business from the home, rent an office cubicle or meeting rooms as needed, operating costs can be as low as $50-$100 per month. Read more...
Small talk serves a great purpose. Good small talk helps create a deeper bond, especially in business settings. Unfortunately, no matter how seasoned of a conversationalist you are, sometimes business conversations can seem awkward or forced.
To help you out, here are five simple things you can do to get the conversation flowing and make a truly meaningful client connection:
One of the simplest ways to make meaningful client connections is to express curiosity. Did they say something clever or interesting? Ask them to elaborate. Did they make a passing comment about their family or their plans for the weekend? Ask about the details. Asking good questions demonstrates that you are actively engaged in the conversation and deepens the bond between you and your client, even if it’s off topic, so don’t be afraid of asking questions that don’t pertain to business.