In today’s ever changing world, companies need to have a comprehensive change management process to ensure their structures, strategies, or systems are up to date. Customer loyalty and consumption look much different than 10 years ago and adaptation is key to survival in today’s age of information.
According to Torben Rick, only a third of companies remain successful throughout the ages. Usually, companies fail if they focus too much on short-term financials. Organizational health is paramount to long-term survival.
First, companies need to ask themselves, “Where are we?” The first step towards change is knowing where you are. Second, you need to identify where you want to go. This means finding the intersection of the market and your organization’s capabilities as well as the field you want to pursue.
Third, ask yourself, “How ready are we to start?” Preparation is key, so you can’t just jump in without an organized plan. Get a clear view of the capabilities and mindsets that need to change first. Next, identify the practical steps that need to be taken. Save yourself time and money by adequately planning for changes.
See the rest of the steps in the infographic below.
Fastmetrics has provided a pricing infographic that seems to depict their services offered for small, medium and large businesses. As you may know, at the core of many businesses is the infrastructure, which plays a large part in the quality of services that a company can offer. Phone and internet are central to conducting business.
They offer cloud based phone lines and data center services for all business sizes. Small businesses can also get T1 lines and aDSL2+. Medium sized businesses can get both T1 lines and bonded T1 lines. Large businesses can for a higher cost, get Ethernet over Copper and Fiber Optic Internet.
Let’s take a look at a few types of internet lines to see what you can get. Ethernet over Copper is different from regular ethernet. You can’t plug it in to a computer or conventional ethernet switch. It’s lower cost since it’s just twisted telephone wire and provides a consistent experience to the customer. The disadvantage is similar to DSL in that the further away you are from the central office, the less speed you can receive.
Now let’s look at aDSL2+. It’s actually an extension to ADSL broadband with faster download speeds. When installed, a filter is inserted at the end of the wire to split the voice and internet. Usually available in metropolitan areas, subscribers should be close to the central office for best speeds.
Lastly, lets look at Bonded T1. It’s actually two T1 lines that have been joined together to increase bandwidth. It provides twice the speed of one T1 line at 3Mbps and must be joined in to the same router at the endpoint.
Managing accounts payable and accounts receivable can be a constant struggle for business owners. How much cash do you need at once? Do you risk turning away business for a stricter payment guideline? Or risk the chance of low liquid cash needed to pay bills?
Fortunately, Citizens Bank is here to the rescue with a multitude of tips and advice for the small to medium business owner to successfully manage the accounts payable and accounts receivable for optimum cash flow.
First, it’s recommended to consistently compare prices and review terms from multiple suppliers before choosing one. You should regularly re-evaluate and try to negotiate terms for suppliers and service companies like your insurance, utilities etc.
Second, you should offer your customers the ability to pay on retainer to keep a consistent incoming cash flow. Additionally, make sure your prices are competitive. Ask yourself “Am I charging too much or not enough? What can I do to get more for the services we offer?”
If suppliers have an early pay discount, do it! Even though you spend more cash upfront, paying less for supplies will make a big difference in the long term financials. If there aren’t any early pay discounts, then hold on to your cash until the appropriate payment dates. You can also ask vendors if they will extend payment due dates to align with incoming cash flow.
You should also prioritize your payees. Pay the most important people first (employees) and vendors with strict terms that can jeopardize your business.
There’s a lot more information! Read on in the infographic below.
Everyone knows that proper maintenance of anything will result in a longer life for the product. Whether it’s your car, stereo, or furnace, it’s much cheaper to maintain your belongings than buy new ones more often than needed. Fortunately, AAA Heating and Cooling has provided a few tips on how to keep your furnace rolling and understand when to replace it.
If it’s making a rocking/rattling or vibrating noise, it could be a cracked heat exchanger or a loose cover. Definitely schedule a repair technician to come take a look. If there’s a scraping sound, the ball bearings could be going out which can cause major damage. Turn it off and schedule an appointment right away. The same goes for high pitched squealing. It could be a loose belt.
The average furnace lives for 16-20 years and loses its efficiency as it ages, especially if it’s not maintained well. If your house isn’t equally heated and you need to adjust the thermostat often, it might need a tune-up.
There’s a lot more information! Read on in the infographic below.
What use to be a much smaller holiday has turned in to one of the most expensive holidays of the year. Americans are spending more than ever on costumes, decorations and of course, candy. According to The Price Gun Store, the average American spends between $70 and $80 each year, contributing to an average annual spend of $7.2 billion.
In 2012, people in the US spent the most of any Halloween, amounting to $8 billion dollars. The meant that each person in the US spent $79.82, almost $30 of which went to costumes. The top selling adult costume is a witch, coming in at $32.99. In close second is the vampire at $31.50. For children, the top selling costume for girls and boys is tied. A princess and Batman are both popular, costing even more than adult costumes at $34.99 each. People buy their pets costumes too and the pumpkin is most popular.
Pumpkins aren’t necessarily cheap either and the price has changed throughout the years. In 2012, a shortage drove the average 17.5 pound price up to $4.80 each.
Candymakers make bank on this holiday, since it’s the biggest moneymaker throughout the year. M&Ms are the most popular, reaching $673.2 million annually. Reeses is a distant second at $516 million and Hershey comes in at $475 million. The average family purchases 4 bags of candy at a cost of $4.50 each, meaning that in 2013 a family will spend about $22 on candy. This amounts to a US spend $2.08 billion.
Want to learn more? See the infographic below!
How is your heating bill? Think it might need improvement? BSW Building Services has released an infographic discussing heat pumps and how it can lower your energy bill. What’s a heat pump? It is a small device that moves heat from one area of your home to another. They can also be reversed to cool a building.
Heat pumps can save you up to 70% on your existing bills and it lasts three times longer than a boiler. They are energy efficient up to 400% and fits radiators or underfloor heating.
According to BSW Building Services, most people rely on oil, coal and natural gas. Only hydroelectic power and natural energy are renewable resources, utilized at 5% and 2% respectively. Thus adding a heat pump not only saves you money, but the environment as well. See the infographic below to find out more.
Binge Drinking is defined as men consuming 5 or more drinks or women consuming 4 or more drinks in a two-hour period. Although most binge drinkers do not drink everyday, the activity can still become dangerous for the drinkers and the people around them. The majority of binge drinkers are under the age of 21, with college student being the largest group. Binge drinkers are more likely to engage in dangerous behaviors while drinking, such as vandalism and fighting, and these actions often involve the police. Binge drinking can also be a very expensive habit; college students spend $5.5 billion on alcohol each year, and the medical costs associated with binge drinking are even higher. For more binge drinking statistics and facts, check out the infographic.
Source: Delray Recovery Center
We all know we need insurance and we like to think that our insurance company has our best interest at heart but does it? This infographic from BDJ Injury Lawyers states otherwise; according to the infographic, the top ten insurance companies in the US make more than 58 Billion dollars. This 58 Billion dollars is more than the gross national income of 130 different countries in the world. These companies are:
- State Farm
- Liberty Mutual
- American Family Insurance
To make the profits above, the infographic claims that there are ten common “tricks” that these companies use to boost their profits. These include “low balling”, refusing to pay medical bills, and claiming the car is total. This is just the beginning of the list. To see all the “tricks” in detail, check out the infographic below.