Have you heard of SMART goals, but you’ve never used an organised and effective method for setting objectives? We’ll explain the advantages of SMART goals, how to use the technique for your personal and business goals and what to watch out for with this method. Because, like all...
Neuro-linguistic programming, NLP for short, is a collection of tools and models designed to facilitate and strengthen communication in various areas of life and work. The goal is to better understand oneself and others, and to make positive changes. We will tell you exactly what...
The profit and loss account (P&L) is also called an income statement. All general ledger accounts are summed up with expenses subtracted from the income to leave a profit or loss amount for the period, which is usually one financial year. Daily operating expenses are summarised...
A Skype interview can be a perfect solution in a world of work that’s increasingly benefiting from employee mobility. However, it’s important that no personal habits sneak their way into a Skype interview with a future employer. If you consider all the technical and formal...
If you’re planning to set up an online store, you have a lot to consider. Amongst other things, your checklist will include applying for a business license, developing a concept, and calculating your finances. But don’t despair! A host of e-commerce programs and optimisation...
Double-entry accounting or double-entry bookkeeping is an essential part of the accounting system. Lots of entrepreneurs have a hard time with bookkeeping, when in fact it should be a boon and provide a detailed overview of your finances. Double-entry accounting isn’t an...
Crowdfunding is a way of raising funds for a project using an online campaign. It’s a popular way of financing, especially for private individuals and startups. Usually private individuals are addressed directly. Four main crowdfunding models have been established, which differ...
One of the most important parts in modern, digital corporate structures is the networking of individual departments and employees. Whether SMEs or large corporations, passing on information, knowledge, and feedback at a snail’s pace, not only slows down the daily work processes, but also has a negative effect on the company’s progress and development. Social intranets are therefore being used more...
An intranet provides secure access to web applications within a corporate network for employees. With so-called firewalls and other security technologies, a company can ensure that no unauthorised persons can access the company’s intranet from the publicly-accessible internet. You can use web-like applications within an intranet and adapt your internal network individually to the needs of your...
Order status, product compatibility, updated delivery terms – manual transmission of data to business partners by mail or phone takes a lot of time. But this can also be done with less effort. The solution: an extranet. But what is an extranet? How do companies use it? This article looks at how to create an extranet, as well as the benefits and some disadvantages of using one.
When planning the finer details of your online shop, rushing through your financial plan can lead to chaos. It’s important to be aware of how much money you need to spend, and only an extensive finance plan can provide the necessary security for the development of your web store. But what expenses do you need to be aware of when setting up your web store?
A business plan is an essential tool for every entrepreneur seeking to kick off a budding project. This not only applies to brick-and-mortar companies, but also to online shops. This is where entrepreneurs can really get to the heart of their business concept, outlining all the crucial elements: from marketing strategies to the company’s staff structure. Providing a projection of the company’s...
With the help of the sandwich method, managers try to communicate criticism to their employees in the most pleasant way possible. Negative feedback is packed between two “sandwich slices” of praise. The sandwich method is also popular in sales methods, and increasingly also in everyday communication. However, there are not only positive aspects, and the method has been criticised by some.
Whether you’re at a board meeting or a project meeting, the question always comes up: “Do we really have to take minutes?“ In large companies, it is often policy that you need to record the minutes, but in small and medium sized companies, this isn’t always the case. Then comes the question: “What is the right way to take minutes?” Writing them can be done quickly and easily with a template. We...
“How likely is it that you would recommend our company to a friend or colleague?” The NPS, short for Net Promoter Score, is limited to this “ultimate question” asked to gauge customer satisfaction. We explain the concept behind the management tool, how you calculate the NPS, and why critics question how valid the NPS is.
Everyone has certainly heard the term “franchise” at some point, but what exactly does it mean? Imagine you want to start a company, but you’re lacking the necessary capital and know-how. Instead, you decide to get involved in a business model that already exists, and build a business under a successful brand. This concept is called “franchising” – and it allows you to start your own business...
Managing a company without having to take responsibility for your assets? This is possible with a limited company (Ltd) and is the reason that many business owners in the UK choose this legal structure. We explain what an Ltd is, its hierarchy, as well as naming some of the advantages and disadvantages of this kind of business structure.
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