If you’re considering telecommuting as an option for your employees or maybe you’re exploring outsourcing to a virtual team, then you could be making a very good business decision. According to research by Gallup, remote workers tend to log more hours per week and are more engaged than those working in an office or onsite. There is also potential for huge savings by diminishing overhead costs such as rented office space and 401k plans.
However, managing remote employees does have its own set of challenges. The out-of-sight element makes it all too easy to put it out-of-mind that remote employees have specific needs, too. This two-part series of articles about managing remote employees will explore tactics that will help you oversee and support those who work from home as effectively as the staff who work in an office in order to maximize efficiency and minimize operational issues.
Studious readers of our MyCorp blog may recall that, back in June, we covered non-profit corporations in a ‘Business Basics’ post, and answered a few simple questions like what a non-profit corporation was and how to form one. This week, we felt it would be a good idea to tackle one of the most often asked questions about non-profits – how do you run a successful non-profit corporation? Now, it’s impossible to distill what makes a non-profit successful into a 700 word post, but we can point out a few things you can do to help your non-profit succeed.
Draft, and adhere to, a solid mission statement
When you form a non-profit corporation, you have to clearly identify your mission. What, exactly, do you hope to accomplish with this organization? Who do you hope to help? What type of a vision do you have? You may have a few fuzzy answers to these questions running through your head, but you have to absolutely solidify every idea and goal you have before you ever hope to begin raising money. If your ‘elevator pitch’ is a jumbled mess of ideals with no, clear, actionable goals, no one will want to donate to your non-profit. The IRS will also review your mission statement when they decide whether or not to grant your group tax-exempt status.
Online businesses have a distinct cost advantage over brick and mortar businesses – they don’t need to rent out a storefront at a good location. Their owners can save on rent overheads by running their business out of their homes.
Businesses that have a physical presence, though, have a distinct advantage in another way – people trust them more because they can see them. People buying from physical stores know that they are there for them, should a problem turn up.
They can look at the store assistants and the manager to see if they trust them through the buying process. If there’s a quality issue, it’s always easy to go back to the store for a return or exchange. They know that storefront retailers are serious businesses. They’ve invested money in launching a store and hiring people.
An entrepreneur starting and growing a company is faced with many management decisions. You have already settled on a product and are working to expand your customer base. Great thought is given to developing your product or service to meet the demands of that increasing customer base. You consider marketing channels and are beginning to create an infrastructure which allows for company growth. But, aside from the product or service you provide, what will be your company culture? Continue reading
Mission statements are one of those holdovers from the domineering American corporate culture of the eighties, and while they can be extremely useful to focus a new business, most of the time they’re bland, and lack any sort of creative touch or impulse. Normally this wouldn’t be that big of a deal, but business schools have a terrible habit of taking the most inoffensive, uninspired mission statements from major corporations and printing them out as an example to which our future entrepreneurs can aspire.
So many thoughts, such little creativity
So we decided to go through a list of multi-national companies and found four odd/funny/not all there upstairs mission statements to help future entrepreneurs reading our blog avoid being the butt of a small time business blog’s jokes. Continue reading