When establishing your company’s mission statement, consider your ideal company culture. Employees that work at companies embodying a defined corporate culture are more satisfied. Satisfied employees advocate for your company, leading to greater productivity and more satisfied customers. Make a list of the core values you would like your company to reflect and build them into your mission statement. Cultural styles fall on a matrix of person-to-person interaction and individual response to change. Here are four examples of flexible business cultures.
Cultures built around education and creativity give employees the freedom to discuss and implement new ideas. While interacting with colleagues is an important component, employees bring their suggestions to management for consideration and implementation. Management may present a problem to a team of employees; each individual is expected to bring a solution to the table. Startup technology companies tend to incorporate a learning culture. The rapidly evolving industry requires all employees to be prepared to suggest growth opportunities.
The caring corporate culture sees every interaction with a colleague, customer or vendor as an opportunity to build a stronger relationship with that person. Employees must work together to exceed customer expectations. Management encourages collaborative relationships and provides a supportive atmosphere. Look for communal work areas with tables as opposed to desks. New vendors or customers are greeted by a team, rather than having one primary contact. Businesses that operate amusement parks thrive in this culture, as the ultimate objective is ecstatic customers.
Businesses with a purposeful culture seek out the best long-term solution in any interaction. These business owners believe that every interaction is an opportunity to improve the world, not just the customer. Management encourages employees to develop creative solutions to opportunities. New-employee mentorship programs are common. Business owners prioritize their commitment to improving their local community.
A business that possesses the welcoming atmosphere of the corporate culture is anything but corporate. Managers typically act as a sounding board for ideas and encourage individual employees to create solutions. Look for non-traditional work techniques – walking meetings, biophilia, and air hockey tables. Business owners that have a natural passion for their product or service, rather than simply make money, build enjoyable cultures.
Developing your company’s cultural identity and building it into your company’s mission statement is the first step when developing your business. Take the next step to align your business strategy to meet the goals of your culture and success will follow.
When your business needs new equipment to complete projects, run the office, or increase its range of services, choosing between a loan and lease financing can be tough. Each has distinct advantages and best use cases, after all. So, if you have not racked up a lot of experience with small business asset acquisitions, which do you choose?
There are a few really good reasons why small businesses with limited capital resources should consider equipment leasing first. It can help you take your money further than loans usually can because of the unique ways that leases operate.
1. Leasing Equipment Can Lower Your Tax Burden
If your equipment is leased, you do not have to calculate depreciation over time or worry about your loan interest as a cost of business. Instead, all of the costs of your lease are just operational costs and you can count them entirely as such when calculating your taxable income. As a result, you can lower the tax burden faced by your small business if you lease instead of buying. Even in cases where your tax bill is roughly the same either way, the simplified accounting involved with leasing lowers your administrative work when filing.
2. Financing Companies Often Help with Maintenance Costs
One common perk of equipment leasing is the fact that the owner of the machine is often responsible for at least a portion of the repair and maintenance if something breaks down. The particular terms of your lease will vary a lot from one financing company to the next when it comes to this issue, but if you do not own the equipment, you rarely have to deal with all of the upkeep costs, and accepting those costs is a bargaining chip you may be able to use to lower the monthly lease amount.
3. Upgrading Is Easy
If you lease equipment, the financing company brings it to your business and takes it away at the end of the lease. If you choose to renew, this might be postponed, but you still do not have to deal with end-of-life issues like equipment disposal or resale. Instead, you can just choose to let it go without renewing, then lease the upgraded machine you really want to put in that space. In fact, many equipment leasing companies make it easy to upgrade on a schedule so you can count on the new machine showing up with the people who are there to take away the old one. That is very convenient for companies looking to keep up-to-date production machinery and office equipment.
Contact Kenbry Capital LLC today to explore comprehensive equipment financing options for your business.
Leaders are not born, but rather they are made. Becoming a strong leader requires a combination of characteristics, qualities, practices, and learned skills, not to mention a commitment to growth, reflection, and development. If you want to become the great leader that you have always hoped you would be, here are five key elements that you will need along the way.
What you do matters so much more than what you say. Great leadership requires an exemplary level of accountability. A lack of follow-through or a lack of credibility is a surefire way to brandish your trustworthiness, reputation, and credibility. Exemplary leaders commit to keeping their word and holding themselves accountable, regardless of the consequences.
Dressing the Part
While outward appearances should not impact the perception of leadership, it has a far greater influence than many people realize. Your physical presentation will impact how others perceive you and trust you. If you want others to take you seriously, you need to look the part. Your appearance must align with your role, company, and professional image.
Investing in Individuals
Great leaders learn how to support their employees as members of teams and as individuals. This is a key element that you need to incorporate on your journey to elite levels of leadership. Whether you invest in professional development, invest in your employees’ journeys and growth, or mentor staff, you need to support your team as individual people. This commitment to others speaks volumes about your values and character.
Showing Mutual Respect Internally and Externally
While many companies have mastered the art of customer service, this fair and respectful treatment does not always trickle into the organization and its employees. As a leader, you need to set the tone of establishing and prioritizing mutual respect and caring on all levels of the organization, both internally and externally. If you want to be seen as a great leader, you must push for a respectful culture and positive workplace, starting with you and your behavior.
When you exist at the top of the organizational chart, it can be difficult for others to offer you feedback; however, great leaders find ways to solicit feedback proactively and frequently. This means pushing for transparency and inviting feedback, especially when it is negative. It is not easy to establish this culture; however, it is vitally important to your organization and your personal and professional growth.
Truly great leaders rely on their actions and not empty words to speak for them. If you commit to your personal and professional development and incorporate these five essential elements, you’ll find yourself on the path to becoming a truly exceptional leader.
Buying property can be a wise decision for a variety of reasons. When you own real estate, you increase your worth in a significant way. However, you must also be mindful of how you are going about the process. To be a successful entrepreneur in the world of property, you need to conduct your due diligence and gain perspective on the options before you. Take a look at this simplified guide centered around commercial real estate and discover how you can use your investment decisions to your advantage.
Commercial Versus Residential
First, it can be a good idea to learn about how CRE investments compare to residential opportunities. Many people pursue residential properties as a way of supplementing income by way of renting the space to a tenant. Unfortunately, this can be quite limiting. With commercial opportunities, you have the chance to rent multiple units at the same time. This effectively increases your capabilities and helps you see more than one point of income from a single piece of real estate.
A Breakdown of Commercial Options
Another key point to keep in mind when it comes to commercial opportunities is what kind of property you are buying. Unlike residential spaces, which can only be used for a single purpose, commercial real estate can be utilized in many different ways. The standard breakdown of designations for CRE includes multi-family homes, warehouses, office spaces, and retail storefronts. Each of these property categories boasts unique pros and cons. To truly take advantage of an investment, you should review the details of each property type and gain perspective on which offers the biggest return.
Understand Financing Solutions
Above all else, financing is likely going to be your biggest issue when it comes to commercial investment opportunities. With residential real estate, it is usually much easier to secure a loan. However, larger lending institutions like banks and credit unions have more restrictions when it comes to commercial properties. To see success, your best choice is to review alternative financing solutions in advance. From gap loans to financing services structured specifically for CRE investments, knowing the details of your options can make the search for substantial financing much easier to handle.
Purchasing a piece of property is a big decision. In order to feel confident that you are making the right choice, you need to understand how commercial real estate differs from other options. Learn about property types, financing, and industry trends to discover the perfect fit for your goals. Contact Kenbry Capital LLC today to explore our wide range of commercial real estate financing solutions.