Tips for Sending Business Emails

At Global Resources, our business consultants use their unmatched experience to help small and medium – size businesses thrive in today’s business arena.   In fact, we often help business leaders create new processes and procedures to ensure their continued growth. 

Our consultants realize that the rules and etiquette for emails have changed over the last several years.  Since emailing is imperative in business, we have listed some tips that may help you communicate with colleagues and customers: 

1. Take the time to write a subject line that gains attention and priority. Your email lands on long lists, and your most important recipients don’t have time to click more deeply into your meaning. Be creatively concise on the headline and, if appropriate, time frame. 

2. Be brief. If you need to write more than a few paragraphs, you’ve missed a conversation that needs to happen. Keep your emails short and sweet. If you can’t, then start an IM, pick up the phone, or go face to face.

3. Don’t confuse an email chain with a conversation. A string of emails and replies shouldn’t be considered a substitute for a conversation, brainstorming session, or a decision-making process. It’s a series of “tells” with varying lag times that often lead to unnecessary churn. Voice-to-voice, face-to-face, and IM are much better forums for important interactions.

4. Follow the New York Times rule. You’ve heard this one before — now believe it: Email is barely communication. It’s certainly not a forum for risky disclosure. As your General Counsel should say: Don’t put anything in email today you wouldn’t want to read in the New York Times tomorrow. All emails are or can be read by others.

5. Check your grammar, spelling and avoid text-speak in emails. Check your spelling. Read it out loud. Look for words spelled correctly but in the wrong place, such as “here” versus “hear”.” Using text-speak like “btw” and “LOL,” even when sending from your smartphone, degrades your email. Double-check these before sending.

To learn more about us and / or to schedule your appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

A Look at the Increase in Seniors Using Social Media

At Global Resources, we utilize our experience to help small and medium – size businesses grow and thrive in today’s competitive marketplace. 

As social media is critical in the growth of many small businesses, it’s important to look at who is using social media today.  Since it has been recognized that senior citizens have become one of the fastest growing demographic on Facebook, we wanted to dig deeper into this group. Below are five reasons why seniors are integrating Facebook into their daily lives:

1. Keep in touch - Social media is a remarkable tool for keeping in touch, especially for seniors who keep in touch with kids, grandkids / grandkids, but it’s more than just family. Seniors are finding their college roommates, best friends from “the block” and elementary school crushes. The social networks enable us to have conversations with people who we thought we’d never see again. 
2. Entertainment - Seniors can watch old television shows and movies, as well as find videos from the past. They can find song lyrics and find out what their favorite entertainers are up to and can also play games, either by themselves or with family and friends. 
3. Learn - Seniors are now taking courses online and reading online books, posts, articles and more to keep their minds active. They also use social media tools to learn more about topics that interest them. In some cases it can lead them to cultivate hobbies and business ideas, and in other cases, such as with all the inaccurate health information available, it can be a confusing mix of resources.
4. Share their experiences - Senior citizens aren’t merely people who are older than us. They have amazing stories and brilliant ideas. Seniors can blog about how life was when they were growing up or how things have changed during their lifetime. They network online and offer advice and mentoring to younger people and students and they can start Facebook pages to talk to others their age.
5. Take advantage of sales and online opportunities - By following their favorite businesses and brands, seniors can save money by taking advantage of promotional opportunities. Many times freebies and discounts are only available via a Facebook page or for Twitter followers.

To learn more about us and / or to schedule your appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Google Listings for Your Small Business

Global Resources LLC can help facilitate the change needed for small to medium- size businesses to grow and flourish in today’s marketplace.  

We know that consumers are turning to search engines like Google when they're looking for a local business. That's why it is crucial for business owners to ensure their Google My Business page is active and up-to-date.

Below are some factors you need to know about Google My Business to ensure you capture the attention of potential customers and gain more business.

• Google My Business was created by the search engine giant to make it easy for consumers to find what they need, and for local businesses to efficiently reach customers. When someone looks for a local business, Google offers My Business listings above websites, making it easier for customers to find you. The good news is My Business listings are free. And, the more complete your listing is, the better ranking you'll receive. 
• If you already use Google Places or Google+ Pages Dashboard, your business listing has automatically been upgraded to a My Business account. However, you should still log in to verify your listing, hours of operation, website links and other relevant information. If you have reviews, don't forget they're public, so be as proactive and interactive with them as possible. 
• If you're a salesperson or professional for a business that already has a local listing, you can complete a My Business listing for yourself and service area. As with "brick and mortar" listings, individual listings should be as complete and interactive as possible in order to influence Google to rank you at the top. 

To learn more about us and / or to schedule your appointment with the business experts at Global Resources, call us at 855-338-0266. 

The Necessary Departments in Small Businesses

Global Resources LLC offers industry expertise in business operations. All businesses need some sort of organizational structure to operate properly. In fact, businesses without a set organizational structure have problems implementing company policies and operating at efficient production levels.  

Every business needs a functional organization, regardless of size.  Even businesses which are too small to have the departmental structure outlined below, need to assign the functional responsibility to someone in the business rather than having the business owner assume all the responsibility.  A business owner who wears too many hats usually fails in his larger responsibility for being the strategic planner for the business simply because he has too many day-to-functions of the business consuming his time.  

Below are departments, or functions, that many small and medium-size businesses must have or assign responsibility for:

• Administration- The chief executive officer, who also may the company president, and any other managers involved in making decisions for the company are a part of the administration department. Businesses need managers to oversee employees and implement company directives created by the president. 
• Accounting - The accounting department handles the bookkeeping for a business during the fiscal year. All revenue, expenses and company equity are tracked by the accounting department and makes the necessary reports to the Internal Revenue Service at the end of the company's fiscal year. The accounting department also tracks accounts payable so that all clients are paid for services or products. Accountants typically prepare income statements, cash flow statements, general ledgers and balance sheets for the company.
• Marketing and Advertising- The marketing and advertising department is typically responsible for developing product packaging and creative materials for the sale of the company products. Additionally, the department may conduct research to discover the needs of its customers. 
• Production - The production department orders inventory for production when needed, fulfills production orders specified by management and coordinates with the marketing and advertising department to make changes to products.
• Sales- Sales departments are needed in companies that sell to other businesses or consumers. Sales departments coordinate their sales force to build customer relationships, meet particular revenue goals and pitch new products. 

To learn more about us and / or to schedule your complimentary appointment with the business experts at Global Resources, call us at 855-338-0266. 

Marketing Trends for the Small Business Marketplace

Global Resources LLC  is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America. We help small and medium-size businesses achieve profitable growth by accessing critical knowledge and expertise. 

As many business leaders know, marketing is often a key factor in achieving success. If you’re looking to expand your business marketing, here are trends you can expect in 2017:

1. In-store marketing to millennials - With 80% of millennials using their phone in-store and 74% of millennials willing to receive location-based mobile alerts, marketers have a tremendous opportunity to provide relevant offers to their customers directly on their phones. For example, the rewards apps for some stores present offers to customers as they walk through the various departments. With advancements in beacon technology, marketers can place precisely relevant offers directly in the hands of their customers.
2. Invest in social analytics and social budgets - There are many great opportunities still presented by social media. 70% of companies are still not collecting data from social media channels. This gap will close this year given that 47% of marketers say that social channels offer the greatest opportunities in the next two months. That’s compared to 37% who see email and websites as the hotbed of opportunity followed by 26% for SEO. They’re backing up those expectations with their budgets. 
3. Video is key - Video is taking over the social media landscape with 4 times as many consumers preferring digestible video content over text. Marketers are picking up on the trend as well, with 69% of marketers saying their budget on video content is “increasing” or “significantly increasing.” Another accelerator of video is the explosion of programmatic video, projected to be 2/3 of total digital video spending in the U.S. by 2019. 

To learn more about us and / or to schedule your complimentary appointment with the business experts at Global Resources, call us at 855-338-0266. 

Improving Your Job Shop

At Global Resources, we use our renowned expertise to help small business owners solve challenges that they are experiencing in the evolving marketplace.  We have comprehensive experience in the job shop industry and often help business owners improve upon their practices in order to achieve success. 

It’s no secret that North American manufacturing has taken a huge hit in the recent years, as more manufacturing moves offshore. This has left many job shops with reduced business and many more out of business completely. As challenging as the situation may be, it is possible to survive and thrive in today’s manufacturing environment. It merely requires a shift in thinking. 

No longer is it enough to be a skilled machinist or a good fabricator - you must become a smart business person as well. Here are tips that may assist you in growing your job shop:

1. Understand the cost of doing business - You need to know all the specifics of the work that earned you money, and the work that didn’t. You can only do this by understanding the true cost per hour by individual department or work center, and appropriately costing the work that goes through those areas of your shop.
2. Realize the value of your customers - Good customers are the lifeblood of a business and relationships with customers become even more important during a weak economy. Good customer relations require that you be proactive, contacting your customers frequently to understand what is happening in their business.
3. Prioritize quality management -It is not uncommon for most small and mid-sized shop owners to believe that quality is what sets them apart, that it’s their key differentiator. Unfortunately, this is rarely the case.  To stay competitive, you must have a formal quality management system in place that is integrated with your shop floor management solution. Factors such as efficiency in your business, and relationships with your customers, are far more likely to differentiate your shop than quality if your competitors offer the same quality products. Don’t assume that quality alone will carry the day in a highly competitive marketplace.  Today’s highly competitive economic environment requires quality products, competitive prices, and valued relationships.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Websites Helping Business Owners Achieve Success

The business professionals at Global Resources are committed to utilizing our knowledge and experience to help bring about positive change for the owners of small to medium-size businesses.  

We understand that business owners often have to wear many hats in the workplace and, as a result, frequently become professionals at multitasking.  

In an effort to help you stay on track, we have listed websites that many business owners consider beneficial: 

Resources

• SCORE – This site will give you loads of free advice from amazing mentors who have plenty of experience to share. You can even meet your mentors in person, as well as get free newsletters. Learn about a number of small business topics, from office security to mobile technologies and more.
• WhichVoIP – One of the easiest ways to save your business money is by using a VoIP service to reduce your phone bills. WhichVoIP is one of the leading authorities on VoIP and contains lots of up to date information that can help you evaluate different business phone service options.
• Entrepreneur – This is a site that is loaded with helpful guides that will help your business to grow. Information you can find includes franchising, setting work schedules with teams, finding new ways to make money, and much more.

Legal

• Small Business Administration – This is a government branch that helps entrepreneurs. You can use this site to get funding, find employees and a whole lot more.
• Better Business Bureau – Learn everything you need to know about business ethics from the BBB. Demonstrate your company’s credibility by getting a BBB rating.
• Shake – This is a new site that provides information on the legalities involved in operating your own small business. Use the mobile app to create contracts that can be signed immediately. The blog will explain the legal terminology used in your contracts.

To learn more about us and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Trends in the Small Business Arena

The team at Global Resources offers individual solutions, developed onsite, for small to medium-size businesses.  As your trusted growth partner, we help bring about the change your organization needs to better achieve growth and profits.  Our experts are renowned for innovative approaches to business and being ahead of the current business trends.

Here are some trends the business owners should be aware of:

1. Online presence - The availability of Internet-based technology gives small businesses more control over brand development, marketing and customer engagement. While tech start-ups traditionally benefit most from these services, Internet tools provide affordable and attainable solutions for small businesses in every industry.

2. Ecommerce - Online storefronts, which allow for the movement of electronic commerce, is swiftly dominating the retail scene in the United States.  You can create and develop your business's ecommerce platform with a vast selection of Internet tools, including solutions for small business owners who need to develop an online storefront on a tight budget.

3. EMV payment security - EMV, or “Europay, MasterCard and Visa,” is critical in our modern marketplace. The national migration to EMV payment standards (popularly recognized as microchip debit and credit cards) is virtually guaranteed to safeguard small businesses and their customers against fraud over the next year. As of October 2015, merchants in the U.S. are liable for any fraudulent transactions processed without EMV-enabled terminals. The government-mandated requirement was expedited as a result of large-scale data breaches and an influx of counterfeit cards in the U.S.

4. Business Intelligence - Business intelligence (BI) software gathers fragmented data sets and translates it into information you can use to improve your business. BI has historically been used by large enterprises to curate, store and visualize what’s known as big data. The growth of Internet technology and big-data solutions make it possible for small businesses to take advantage of BI solutions.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Business Owners Incorporate Back to School

The back to school retail season is such a lucrative market and many entrepreneurs are interested in capitalizing on it. At Global Resources, we are committed to helping clients understand the present and analyze the future of their business.  We then create a plan of action to meet goals and, finally, we do the work necessary to create amazing result. 

At Global Resources, our deliverables are based on the professional goals and expectations of your organization.  We will solve the intricate and unique challenges you are experiencing in the evolving marketplace.  While there are best practices that are applicable to all organizations, we understand that no two businesses are identical.

For special seasons, such as back to school time, we analyze your target market, how back to school impacts their lives and how your products or services could fit in to get your back to school marketing campaign started.

• Create Marketing Ideas - If your products or services have no obvious back to school tie-in, you can still create one. Be overly creative to find the back to school connection! 
• Expand Audience - Don't limit your marketing ideas to actual students. It means altered schedules for parents, too, and for some, more time to do things for themselves or things they've been putting off.  Back to school can affect the entire community.  
• Teacher Time - Teachers are another great group to target with your back to school marketing ideas if your products or services are appropriate. Many of the marketing ideas that apply to parents will also work for teachers. 
• Deals and Promotions - Whether you are a clothes retailer, school supply retailer, dentist or hair salon, offering customers deals and promotions is a smart way to increase business.
• Go Digital - One of the biggest downsides of back-to-school shopping are the never-ending lines. It’s no surprise that many consumers are now reverting to purchasing their school supplies online. Some retailers even offer the option to shop online and pick up in the physical store, providing a faster option to actually have the product in hand.

To learn more and / or to schedule your complimentary appointment with the renowned business experts at Global Resources LLC, call us at 855-338-0266. 

EIN Info for Small Businesses

Global Resources is a “full-service” consulting company — meaning that we maintain the expertise and diversification necessary to address all aspects of our client’s business. This requires us to maintain a staff of highly “specialized” professionals across a diverse mix of industries and disciplines. 

We are proud to say, that in the history of Global Resources LLC, there has never been an issue raised during the course of a client engagement where there wasn’t a consultant on staff that didn’t have prior experience in dealing with that issue.

One of the key responsibilities for many new businesses or businesses that are restructuring is obtaining an Employer Identification Number, or EIN, from the IRS.  When you partner with us, our experts will help through every step of the way –including obtaining an EIN.

Below are a list of common questions new business owners often have about EIN’s:

What is an EIN? An EIN is a unique nine-digit number that identifies your business for tax purposes. It’s similar to a Social Security number but is meant for business related items only.

What do you need an EIN for? A business owner needs an EIN to open a business bank account, apply for business licenses and file tax returns. 

What type of business needs an EIN? An EIN is needed by any business that retains employees. However, non-employers are also required to obtain one if they operate as a corporation or partnership.

How do I apply for an EIN? The simplest way to apply for your EIN is online via the IRS EIN Assistant. As soon as your application is complete and validated, you’ll be issued an EIN. There is no charge for this service.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

5 Tips for Hiring New Employees

At Global Resources, we are dedicated to being the most impactful partner you will ever have.  We will navigate the way for your success, including helping you plan for the hiring new employees.  Employees are the backbone of your business and, with the right team in place, growth and increase in profits will happen. 

If you are a business owner embarking on the hiring process, we have 5 tips for you: 

1. Focus on the candidate's potential. Nothing is more important in a new hire than attitude. While having the right skill set may seem essential, the fact is, skills can be acquired, but attitude is something which the new employee brings to the job.  Attitude is a critical component in overall contribution and productiveness.  A person with the wrong attitude can undermine company teamwork needed to maximize company success.

2. Check social media profiles. Most employers do a background check, including a quick Google search on the candidate's name, to see what is shown online. Today, we suggest looking at social media profiles to evaluate their online presence even further. 

3. Ask the right questions.  In advance, determine questions that will help you decipher a candidate's drive, ambition, and attitude.  This will help you understand how the person works, and whether or not your prospective employee will grow with your business as a productive member of your team.

4. Let candidates ask questions. To help gage if your prospective candidate has the right attitude for your particular job, it's important to help that person understand the company's work environment. Allowing prospective employees to interview you for a change will give you a chance to see what's important to them. 

5. Don't judge a book by its cover. It's easy to write off candidates based on their appearance, but it's more important that you consider how well they can do the job.  Ask yourself, are they a good a good fit in other ways? When interviewing, it is important to think outside the box. Candidates who fall outside the narrow lines of your requirements may still be the perfect fit for your business, if they bring to the business skills or personal attributes which you were not looking for but now recognize as valuable.  

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Starting a Profitable Restaurant

Restaurant industry sales are expected to reach $783 billion in 2016. Although this will represent the seventh consecutive year of real growth in restaurant sales, the rate of growth remains moderate. The restaurant industry will remain the nation’s second-largest private sector employer with a workforce of 14.4 million.

Opening a restaurant is a challenging and expensive process, and the reality is that many restaurants fail in their first year of business. However, there are certainly ways to reduce the risk of becoming another statistic. 

At Global Resources LLC, our team of experts includes restaurant professionals who know how to grow restaurant concepts.  We will assist you in maintaining positive cash flow, controlling costs and accelerating profitable growth for your restaurant. 

If you are beginning to plan your newest restaurant endeavor, we have five critical tips for you: 

1. Know Your Target Market - Understanding your target market before you begin planning will help you solidify your menu, determine location, décor and the overall atmosphere of your restaurant. 
2. Select a Service Style and Food Concept - What type of restaurant do you see yourself owning? One of the first things you must decide is what specific service style you are interested in. Typically, your service style will either be fast-food, which offers food types that range from burgers, fries, hot dogs and sandwiches; midscale, which has full course meals at value prices; or upscale, offering full service meals with high-class ambiance and, in turn, higher prices. After narrowing your establishment to one of these three options, you can narrow your style of food choices. Is there a particular type of cuisine that you see yourself serving? 
3. Create a Business Plan - Your restaurant will need a strategic business plan, which includes the overall concept and goal of your restaurant, financial information and projection, description of your target market, menu and pricing, equipment and employee details, advertising and marketing plan, and a potential exit strategy.
4. Choose a Location and Layout - It is important to find a location that has a continuous stream of traffic, convenient parking and is in proximity to other businesses. Once you find your location, the layout and design of the interior should be taken into account. You should already have a concept for your restaurant in your business plan.  Now it’s time to bring this concept into the design of the dining room. 
5. Create a Menu - The menu can make or break a restaurant, and should be in accordance with the overall concept of the restaurant. Revisit your business plan to make sure the menu is attractive to your target market, is affordable within your budget, and complements your restaurant's design concept.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Determining Your Audience

When you work with Global Resources LLC on a business analysis, you can expect to have your target market reviewed.  In the competitive marketplace today, having a well-defined target market is now more important than ever. In fact, targeting a niche market allows small businesses to effectively compete with larger companies.

Pursuing a specific market does not mean that you are excluding people who do not fit your criteria. Rather, target marketing allows you to focus your marketing on a precise audience that is more likely to buy from you compared to other markets. This is a much more affordable, efficient and effective way to reach potential clients and generate business.

Defining your target market is the hard part. Once you know who you are targeting, it is much easier to determine where and how to market your company. Here are some tips to help you define your target market:

1. Look at your current customer base - Look for common characteristics and interests amongst your customers and determine why they buy from you. Which audience brings in the most business? 
2. Evaluate your competition – Look at who your competitors are targeting. Who are their current customers? Don't go after the same market exclusively, but rather, try to find a niche market that they are overlooking which you can exploit to your benefit.
3. Choose specific demographics to target - Figure out who has a need for your product and who is most likely to buy it. Include the following factors in your process:

          •Age 

          •Location

          •Gender

          •Income level

          •Education level

          •Marital or family status

          •Occupation

          •Ethnic background

1. Look at the psychographics of your audience - Psychographics are the more personal characteristics of a person and can help pinpoint their wants and needs.  Specifically, you should determine how your product or service will fit into your target's lifestyle. This includes: 

          •Personality

          •Attitudes

          •Values

          •Interests/hobbies

          •Lifestyles

          •Behavior

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources, call us at 855-338-0266. 

Utilizing the Cloud with Global Resources

Global Resources assists organizations with utilizing the cloud. The traditional belief was cloud-based web tools were used mostly by large corporations, and that these tools were costly and their capabilities are too expensive to be efficiently utilized by small and medium-size businesses. However, although cloud technology is often associated with large-scale, enterprise usage, it doesn’t mean small business should avoid it. 

With the many web-based cloud options available today, it is extremely easy to adopt and can be seamlessly integrated into a technology portfolio to increase efficiencies of key business tasks such as client engagement, workflow and day-to-day operations.  

For those who are still unsure about the cloud, the experts at Global Resources LLC have factors you should consider: 

More to the cloud than file sharing - Email and file sharing is a common practice of the cloud but other functions, such as calendar and client management, are not as commonly used by small business management. Online calendar, online scheduling and online CRMs have efficiencies beyond the standard cloud benefits. As with any cloud application they are always available, backed up and have zero maintenance for the business. But they also offer a unique value, as they can actually connect to your website, social networks and email, offering a seamless flow of client information between your customer-facing assets and your internal tools. 

Customers can also benefit from the cloud - One of the greatest impacts of leveraging the cloud that is often missed is the huge improvements in customer service. As customers today want services 24/7 from anywhere, on any device, the cloud has the capacity to turn average customer service into exceptional customer service. The cloud by nature is available 24/7, creating an on-demand repository of every action and transaction between the business and the client. Cloud business applications have the capacity to offer personalized, self-service portal for clients –making the business available for its clients 24/7. 

The Cloud has more benefits when used with mobile- Mobility today means more devices, more locations and more apps that improve productivity, collaboration and your overall business.  And this shift in mobility is paying off with 70 percent of firms saying mobility is improving customer service. But the great power of mobility truly shines when married to great cloud solutions. As an example, the cloud CRM can be programmed to deliver automated email or mobile notifications for customer inquiries or notify the business team member when it’s time to follow-up. On the other end, an online calendar and scheduling automation solution will remind clients of upcoming appointments via email or text messages, eliminating the need for a phone call reminder.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Global Resources Advises on Corporate Philanthropy

Adding corporate philanthropy is an important – yet often confusing – practice. Many business owners turn to the business consultants such as those at Global Resources LLC to help establish corporate giving. There are many benefits a company can reap from engaging in corporate responsibility, as long as the philanthropic endeavors are integrated properly. 

If you’re considering becoming more socially responsible and integrating philanthropy into your business, be aware that there are common risks, if not done strategically. 

• Budding social butterflies - One of the risks involved is that a company's leadership can end up getting overly focused on the social side of philanthropy and subsequently lose track of the business platform.
• Direct giving can hamper goals - On the downside, philanthropy that is direct, or created through pure donations of money can make it difficult for a business to actually change what it wants to change in the community, if the receiving charity is not properly vetted before a financial contribution is made.  Some charities which portray a worthwhile community purpose may have an extraordinarily high operating expense relating to their fundraising activities which limits the impact of the corporate giving by the business owners.
• Time, cost and decisions - If a business decides to take a more direct route by investing money in the community itself, then there are other issues which must be taken into account. The business must form a team and decide how much money to give and where it should be given to produce the most impact. Decisions affect not only the length of the project, but also any marketing that goes along with it. In the end, the company must be prepared to spend time, money and decision-making power on a project, if it wants to have an impact beyond a financial contribution.  All factors, both time, money and resources should be evaluated to make a prudent decision as to the best way for a business to engage in corporate philanthropy.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Critical Questions to Ask Before Hiring a Consultant

Hiring a business consultant can be the first step in maximizing the success of your organization.  At Global Resources, we provide an objective and comprehensive analysis of the business to give an unbiased view of its strengths and weaknesses. 

If your company is ready to progress forward with the professional assistance of a business consultant, it is important to hire the best consultant for the job. Here are some questions we suggest asking prospective business consultants:

1. How many professionals work at your firm? Business consultants fall essentially into two categories: Solo-practitioners and team players. Understanding the difference between working with a consultant who is on his own or a company which has a team of professionals with experts with experience in a variety of fields will help you evaluate what you need and who offers the best opportunity for you to gain the professional help you deserve.  
2. Will you sign a letter of confidentiality? Will you refrain from working for our competitors?  Ask all consultants to sign a letter of confidentiality. You and your staff must feel free to discuss business subjects with your consultant and trust his or her discretion. If you feel uncomfortable, you won't discuss matters candidly, which will affect the outcome of your consulting engagement. 
3. Ask how many clients do you work with at the same time?  Will you return phone calls or emails the same day? The number of clients a consultant can serve well varies with the kind of service provided and clients involved. But some general rules apply: You want to have same-day response to questions or problems. Be sure to ask about their practices for personal follow through when working with you and their follow-up for client services.  
4. Will you teach us to do this work for ourselves and become self-sufficient? By making training part of the consultant's job, you can limit the chance for the unnecessary expense of the consultants doing what your own employees could be doing, once they are properly trained by the consultants you hire. Establish a schedule within which the consultant can accomplish the goals you have established for the project. 
5. What kind of documentation will you give us when the project is completed? Keeping a paper trail of the work a consultant does for you accomplishes several ends-all of them good. Documentation will usually give you some forms and tools that you can use for continuous improvement and allows you to keep a record of the analyses made of your company and the responses you've taken. 

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266.

The Know-how to Keep Your Business Running

You decide what success means to you and your business. The experts at Global Resources will utilize industry expertise and intimate practical knowledge to achieve your goals by creating a sound plan and carrying out the perfect implementation.

As a small business professional, you know how difficult it can be to keep your company thriving, much less prepared for unexpected bumps down the road. If your goal is to maximize your brand, Global Resources LLC has some tips to help you achieve success:

1. Plan for disaster. You should plan for any event that could cause you to lose valuable data or productivity. These could range from a failure of your backup software to a disaster that prevents your employees from coming into the office to work. The business experts at Global Resources can help you determine the best protocols for potential disasters.

2. Prioritize IT. Your small business might not require a full-time in-house network manager, but you still need access to a trusted technological professional who can set up, maintain and grow your network tailored to your company’s specific needs. If losing your Internet connection for more than a few minutes would throw a serious wrench in your operations, find the best provider available in your area. Email that goes down once a week or an ISP that is not available when you need it can frustrate customers and employees alike!

3. Consider insuring vital employees. It’s not uncommon for one person in a small business to become the resident expert in an important area such as database programming. Ask yourself what would happen to your company if that person quit or became too ill to work for a long period of time. 

If the business consequences are too hideous to contemplate, it’s time to make sure you have a backup. If it’s not possible to train a second employee or document the job’s duties for an emergency replacement, it might be wise to invest in disability or life insurance for employees you literally cannot afford to do without.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266.

Strategic Tax Planning for Your Business

At Global Resources, we pride ourselves as being recognized by clients and industry experts as a premier strategic tax advisory firm offering extraordinary dimension and expertise. We are attuned to the fluid nature of ever-changing tax laws, and work diligently to ensure your success.

Filing taxes can be a time-consuming and tedious process, yet it is mandatory.  By working with the tax experts at Global Resources LLC, we ensure your taxes are completed flawlessly, while allowing you the time needed to effectively run your company. 

When it’s time to file a federal income tax return for your small business, there are various ways you can do it, depending on whether you run the business as a sole proprietorship or use a legal entity such as an LLC or corporation.  Each type of entity requires a different tax form on which you report your business income and expenses. Regardless of the form you use, you generally calculate your taxable business income in similar ways.

If you’re already looking ahead to the next tax season, here are some general tips for strategic tax planning.

1.       Gather all business records. Before filling out any tax form to report your business income, you should have all business earnings and expenses available.  We suggest using a computer program to organize and keep track of all transactions during the year.

2.       Find the correct IRS tax form. Selecting the correct form to report earnings depends on how you operate your business.  Small business owners often use a sole proprietorship, which allows them to report all of their business income and expenses on a Schedule C attachment to their personal income tax return. If you run the business as an LLC and you are the sole owner, the IRS also allows you to use the Schedule C attachment. If you use a corporation or elect to treat your LLC as one, you are responsible to prepare a separate corporate tax return on Form 1120.

3.       Fill out your Schedule C or Form 1120. Be sure to use correct information and file documents properly.  After processing your paperwork, it can be quite tedious and time-consuming to make additional changes.

4.       Know the filing deadlines. When you use a Schedule C, it becomes part of your Form 1040 and therefore, no separate filing deadlines apply. It is generally subject to the same April 15 deadline. If you need to file a Form 1120, you must file it by the 15th day of the third month following the close of the tax year, which for most taxpayers is March 15. You cannot send this form to the IRS with your personal income tax return.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266. 

Improving Business Management Strategies

Managers are crucial to every working business.  Not only are these chosen employees responsible for managing other co-workers, but they also must work towards increasing business profits. If your business has an unsuccessful manager, chances are you will see a negative ripple effect as the outcome.

At Global Resources LLC, we work with business owners to analyze management and improve workplace functionality.  Our consulting services team is comprised of some of the brightest management minds in business. All have practical, hands-on business management experience. Nothing is left to theory.

Manager Relationships

The relationship between a manager and a worker is one of the largest influences on a worker's job performance. Bad management practices may decrease employee morale and cost the company more than just the cost of high turnover, amongst others. Displeased employees stop caring about how well they perform at work, are more likely to demand more money for extra tasks, etc. The management pros at Global Resources will work with your staff to improve productivity and effectiveness. 

Manager Profitability

Frequently, investors judge a company's management team on a subjective level and become captivated by the CEO’s hopes and dreams of the future. However, what really matters is management’s ability to create wealth for shareholders. If this ignored, investors might fall victim to some unpleasant returns.

The experts at Global Resources will create effective evaluations for your management team:

•Assess the company's economic margin.

•Evaluate the ability for a company to sustain historical levels of economic margin performance.

•Build out future cash flows to better evaluate expected future performance relative to its peer group.

•Look at investment prospects of firms and review how they are growing or shrinking their business.

To learn more and / or to schedule your complimentary appointment with the management experts at Global Resources LLC, call us at 855-338-0266. 

Business Analysis Helps Businesses Do Business Better

A business analysis is a structured approach for introducing, managing and maintaining change to businesses in all types of industries. Simply put a business analysis is an agent of change. 

There are many reasons a company will hire Global Resources to conduct a business analysis, including the need to investigate their business systems by taking a holistic approach to evaluate actions that will improve the operation of a business as well as the desire to document the business requirements for the IT system.

The business experts at Global Resources LLC utilize a business analysis to identify and articulate the need for change, and to facilitate that change. We provide an objective and comprehensive analysis of the business to give an unbiased view of its strengths and weaknesses. The business analysis takes approximately one to three days. Our target market is businesses that range from $1 million to tens of millions in annual revenue.

The business analysts at Global Resources work across all levels of an organization and complete an in-depth examination, including financial, operational and sales functions. By doing this, we can thoroughly provide recommendations for improvement by identifying strengths and deficiencies. Our business experts may be involved in everything from defining strategy, creating internal practices and procedures, specifically crafting leadership roles by defining goals and requirements for programs and projects as well as supporting advancements in company technology.

At Global Resources, we have the specialized knowledge to act as a guide and lead the business to its desired destination. The value of business analysis is in the realization of benefits, avoidance of cost, identification of new opportunities, understanding of required capabilities and modeling the organization. Through the effective use of business analysis, we can ensure an organization realizes these benefits, ultimately improving the overall growth.

To learn more and / or to schedule your complimentary appointment with the business experts at Global Resources LLC, call us at 855-338-0266.