Business

Native American tribes are subject to federal and state laws but they are unique, sovereign nations so they can build and operate casinos as long as they are within the borders of their reservation lands. Tribal casinos go back as far as the 1970s when Native Americans opened bingo halls to raise funds. Tribal gaming offers a way to boost the economy and benefit social development in indigenous communities.

Tribal gaming revenue

There are 524 tribal casinos in the U.S. and many of them are massive and very glamorous. In fact, none of the largest casinos are in Las Vegas. The five largest casinos are owned by Native American tribes. They are ranked by the number of table games, slot machines and square footage. Tribal gaming revenue generates almost 45% of overall U.S. gaming revenue and this revenue is increasing all the time.

Gun Lake is one of the tribal casinos that launched an online casino in April 2021 and at playgunlake.com, players can experience the flexibility and convenience of betting online with a large array of online slots and favorite table games. Live dealers will be coming soon, where guests can interact with real dealers on a variety of games.

One of the productive things during lockdown was that people discovered how much they could do online, such as taking online courses. Thousands discovered how much fun online gaming could be too, and even now that social distancing restrictions are being lifted, this activity continues to grow.

Regulations

The Indian Gaming Regulatory Act (IGRA) outlines the requirements under which the tribal casinos operate and they are also regulated by the tribal governments, federal statutes, tribal-state gaming compacts, the National Indian Gaming Commission and the Interior Department.

Under the IGRA, the tribal casinos must support tribal economic development with the profits they generate, investing funds in improving roads, schools, and helping charitable organizations.

Major regulations exist with the purpose of maintaining the security of sensitive personal data and most casinos rely on encryption. Those who want to understand encryption may want to find out more about, but it basically changes data from being readable to unreadable.

Tribal casinos don’t pay taxes

Tribal casinos do not have to pay tax to the government. However, they do have agreements with states whereby they pay them some of their profits. They are good for the economy in that they provide plenty of job opportunities.

 

What makes people happy in a company? Is it the salary and benefits? Is happiness based on who your boss is and what kind of relationship you have with him? Could it be something else?

Answers to these and other questions may vary. However, it starts by putting in place simple measures that will show your employees that you care about their well-being. Here are four of them.

Rewards and Recognition

Everyone wants more money. This is common sense. No employee will say no to a salary increase, a large bonus at the end of the year, or a higher sales-based commission. Yet, most staff members understand that this is not always possible. Aside from labor costs, companies also have to pay rent, taxes, utility bills, and other expenses. As such, this is usually not what they expect.

But this doesn’t mean they don’t desire to be recognized for their work, especially if it is above standard. All human beings need praise, and it is the firm’s responsibility to provide it.

If you cannot give your workers more money, give them something else. Simple rewards like a plaque, a set of stackable engraved rings, a certificate of recognition, or a quality pen will go a long way in showing your people you care about them and value their work.

Flexible Schedules

One of the many things the covid-19 global pandemic has taught us is the importance of flexibility. Even if the mass rollout of several vaccines has already started in many countries, things have not completely gone back to normal. We still need to maintain social distancing protocols, use masks, face shields, and other protective gear, and make sure we are as clean and sanitized as we can be.

From a business perspective, this places the demand on corporations to exercise at least a minimum degree of flexibility towards the work schedules of their employees. If several of the members of your team can work from home while maintaining equal levels of efficiency, there is no reason for you not to allow them to. If you have clients or business partners in different countries around the world, why not let your staff choose the hours they work based on various timezones?

We all have to deal with a long list of issues in our lives. If we see that the company we work for is taking this into account, we will be more motivated to do our best.

Stock Options

Few people will take care of the things of others more than they do their own. This is true both from a personal and a corporate perspective. As a part-time employee, is the enterprise you work for as important now as if you were the owner? If the company computers, desks, printers, and copy machines belonged to you, would you be more mindful of how you use them?

When it comes to providing employees with stock options, there are two ways in which the company can benefit. First, it can create a deep-seated sense of belonging within their staff. After all, they are part owners. Second, it aligns the long-term goals of upper management with those of rank-and-file employees.

But what kind of avenues can the business take? There are plenty of options. For instance, a firm can offer workers stock options once they’ve reached a certain tenure within the organization. Another alternative would be to include them in general employment compensation packages or retirement programs.

Company Perks

In simple terms, a fringe benefit or perk is anything your firm will give you that is not required by law. Examples include a company car, a business trip expense account, a daycare facility for people with kids, and access to an in-house gym. These and others are all great benefits that will keep employees motivated and happy.

Yet, a perk doesn’t have to be something big to be meaningful. It doesn’t even have to be that expensive. Staff members will more than appreciate a few free snacks or drinks. They will love a small rest area to play board games with their colleagues, catch up on their reading at lunchtime, or simply relax and take a nap.

Other highly popular fringe benefits businesses can offer are discount coupons for groceries, gym memberships, hair salons, or restaurants. Once again, they show your workers that you are willing to go the extra mile to assist them in any way you can. Better yet, it is a sign that you value your people as much as you do your bottom line.

Four effective, affordable ways for organizations to keep their staff members motivated are a rewards and recognition system, flexible work schedules, stock option capabilities, and small perks.

For companies who wish to maintain work quality and efficiency within their ranks, they are the easiest, fastest way to do it.

 

 

Meta title: Affordable Ways to Motivate Your Staff
meta desc: This article looks at four simple benefits all companies looking to maintain employee motivation levels can give their workers. Read along to find out more about what they are.

 

Source: https://unsplash.com/photos/S4YyjnffcIQ

White wine is arguably one of the most consumed alcoholic beverages in both Australia and all around the world. In fact, many people drink at least one glass of white wine every single day; not just because of the taste, but also for its therapeutic and health benefits.

In this article, we’ll be taking a look at some white wine nutrition facts and just how this popular and tasty beverage can be beneficial for your health when consumed in moderation.

 

It’s Good for Heart Health

The older the white wine, the better it is for your heart, according to studies by health experts. It helps to improve cardiovascular function, allowing blood to flow more freely through the body and thus placing less pressure on the heart muscle. Aged white wine has been shown to offer higher levels of cardioprotection and is beneficial for proper artery function.

When enjoyed in moderation (1 or 2 glasses per day), white wine neither increases or decreases blood pressure, nor does it affect normal liver function, according to studies between drinking red wine, white wine or mineral water with dinner.

 

White Wine Can Speed Up Your Metabolism

The inherent ingredients in white wine are known to help speed up the body’s metabolism, which enables the casual white wine drinker to burn calories at a more efficient rate and have the ability to keep off excess body weight.

This is great news for anyone who is concerned with weight gain, or someone who has a few extra pounds they want to lose.

Keep in mind that if you overindulge and drink white wine to excess, it will have the opposite effect and you’ll start to put on the pounds, not take them off.

 

Improved Lung Health

For many decades, red wine has been considered by many as the most healthy alcoholic beverage in the world. While this may be true in many respects, one area where white wine may get an edge over its red wine counterpart is lung health. White wine has more of an impact on improved lung function and capacity than red wine does.

Lung capacity tests taken over a period of time in studies have shown that regular drinkers of white wine outperformed regular drinkers of red wine in lung capacity testing. This ties in with white wine also being good for heart health.

 

White Wine Is Loaded With Antioxidants

Most of us are aware that antioxidants, often found in various fruits and Vitamin C, are extremely beneficial for ongoing good health. Antioxidants are also known enemies of the free radicals that can cause cancer or exacerbate cancer. Drinking white wine in moderation on a regular basis loads up the body with important antioxidants that aid in the fight against free radicals and cancer, improve blood flow and heart and lung efficiency.

While white wine is not a cure-all, indulging in a glass or two daily will certainly help to ward off illness and keep you generally all round more healthy.

 

White Wine Can Help Reduce Bad Cholesterol

As a part of its positive impact on heart and artery health, the properties of white wine have been shown to help lower the levels of bad cholesterol in the body. This means less chance of developing clogged arteries or suffering from kidney or liver issues due to high cholesterol levels in the bloodstream. Anything that can help lower bad cholesterol levels is a major health benefit not to be ignored.

 

Have Your White Wine Home Delivered

In the modern world, there is no need to jump in the car and drive to your local bottle shop to pick up a bottle or two of your favourite white wine or other beverage. If you want to buy spirits online, Australia has many home delivery options.

Just go online, order what you want from an online liquor store and have your wine and other favourite alcoholic beverages and mixers delivered to your home. It doesn’t get any easier and more convenient than that.

 

The Takeaway

As you can see, there are many health benefits associated with drinking white wine in moderation, particularly with meals. So long as you don’t regularly over-indulge, a glass or two of white wine per day can be very good for your health.

 

Long known for their habit of living in colonies, ants are the most common house pests across the entire globe. The moment you spot one ant, there’s a sense of inner certainty that you have an entire colony of ants to deal with. You might next end up seeing an ant trail crawling all the way up your walls or on your floor. Ant colonies do not pose much threat when you see them outside, but the moment they have found their way to your home, it’s time to get them out. Ants not only contaminate food but some species also leave behind itchy wells on your skin.

There’s no doubt that ants can be seen as comparatively friendlier pests as they do not cause a lot of damage on most days. However, Ant Control Melbourne is a true concern when an ant Infestation is getting out of hand. Be it to preserve all your sweet food or to make sure your house remains pest-free, here’s how you can creatively tackle an ant Infestation.

● Use Peppermint

With most pests, the key to eradicating them can always lie in targeting their strong senses of smell. If you’ve been wanting to tackle an ant problem effectively, use the proven insect repellent property of peppermint to your advantage. You can simply use a few droplets of peppermint oil diluted in water. Next, you could sprinkle it around areas where you see or suspect ant colonies. Use of substances like peppermint or simply pepper can work wonders when it comes to dealing with ant infestations in your home. It’s amazing how household products can be of such tremendous use when you are dealing with pest problems.

● White Vinegar

If you’ve spotted an ant colony, you can indulge in this easy solution. All you need to do is take some water and white vinegar and make a 50-50 solution from it. Use this solution to wipe these colonies visible to your eye. White vinegar not only kills ants but also acts as a strong repellent for them. Professional services like Pestico Pest Control Melbourne advice on using these homemade tips for dealing with basic pest problems routinely. White vinegar is seen as an efficient eradication therapy for ants, and this has been a practice that is in use in houses all over.

● Bring Tea Tree Oils in Use

As usual, tea tree oil is out and about, constantly showing us its utility. These oils have a peculiar fragrance that is very useful when being sprayed in the house. The scent will spread a nice aroma in the house while making sure that ants are not around. You can simply use a few drops and mix them well in about 2-3 cups of water. If the aroma is too strong, you can dilute the mixture even more. These oils are easily available online and act as a natural and organic ant repellent.

● Use of Silicon Dioxide

Using silica powder is a very effective way of killing ants in your house and is surprisingly not poisonous in use. This powder comprises of the fossils of aquatic creatures that go by the name diatoms. You can use this powder around your house and it will absorb the oils in the skeletons of small creatures and bugs. This will make their skeletons dry and slowly kill them. Even though silica isn’t necessarily poisonous, it is still an irritant that will surely bug you. So avoid using it near your eyes or breathing it in.

● Get Spray Glass Cleaners

If you combine your everyday glass cleaner and liquid detergent, it can create a pretty useful mixture that wipes out the trail of pheromones that ants leave behind when they walk. By doing this, you will ensure that ants do not return to your home. This remedy has been around for a long time and is usually enough to keep the ants away. Using this remedy has been a very effect way for your Ant Control Melbourne needs.

● Everyday Hand Soap

Using hand soap is one of the easiest ways to get rid of ants that keep coming back to your house. Use simple hand soap to wipe down areas where ants have frequented so that their trail of pheromones is wiped off. What’s even better is that unlike glass cleaners or liquid detergent, the smell won’t bother you so much here. Using hand soap has been a remedy measure that has been around for ages. You can even choose certain soap fragrances that have a stronger smell and will keep ants away more effectively.

● Lemon and Eucalyptus

Lemon and Eucalyptus have a very strong aroma that is not generally liked by ants. It overpowers the trail of scent that they leave behind wherever they walk and as a result, doesn’t allow them to come back so easily. Using these odours is an organic way of dealing with ant problems in your house. You can simply choose to purchase their oils online and spray their diluted liquid across the house. This also gives off a good fragrance.

● Coffee grounds

For a long time now, coffee has been doing a lot more than just being a much loved beverage. Brewed coffee grounds used around ant colonies can act as strong repellents for them. Sprinkle these on surfaces and let them do their magic and attract ants. However, dry coffee grounds will not be just as effective. This means that you will have to change them often. Ant Control Melbourne becomes quite easy if basic ant control tips are followed.

Although these tips might seem like everyday DIY things you hear around, they have proven effectiveness. Following them regularly along with professional pest control drives every once in a while is all you need for your pest problems to fade away. Pestico Pest Control Melbourne believes in working actively towards pest control problems. Bring these tips to use and get rid of ant colonies thriving in your home.

Going to the salon is one way to relieve your stress. It should be one of your relaxing and enjoyable moments. However, it’s not always the same experience for everybody. Some end in disaster. They gain damage or injury, which can cause stress and embarrassment. If you sustained an injury after visiting a beauty salon, the hairdresser could be held liable. You may get in touch with beauty treatment solicitors who can help you succeed with your claim.

Here, we will help you understand and guide you with everything you need to know when you’re claiming for beauty salon treatment compensation.

Types of salon injuries that qualify for claims

• Lacerations. Hairdressers are well-trained to use scissors and all forms of hair-cutting tools. They should be experts in using scissors. However, due to some unavoidable circumstances, they may cause you cuts that may leave a scar. If this occurred out of the negligence of your hairdresser, you could qualify for injury compensation.
• Heat and chemical burns. When you visit a salon to get your hair treated, you may experience heat and chemical burns. Treatment solutions that contain harsh chemicals as well as irons may cause burns to your skin. Hence, if the hairdresser is proven negligent, you may also qualify for claims.
• Hair damage or hair loss. If your hairdresser applied the treatment solution to your hair in the wrong way, you could suffer hair damage, or worst, hair loss. When you face this situation, you can ask for compensation from your hairdresser.
• Tripping and slipping. Aside from treatments, suffering physical injury from a slippery surface inside the salon can also qualify for claims. Owners and employees are responsible for the cleanliness of their salon and the safety of their clients. Therefore, the salon will be held liable for any accident that may occur inside.

How much compensation can you get?

When thinking of how much compensation you can claim from the injury you sustained from a beauty salon, you will base the amount on the severity of the injury. For instance, if you suffered from lacerations, the wound may leave a scar that will cause you to lack self-confidence. The same goes through if you suffer from hair loss. Amount tends to be high in these cases. If the damage is less serious, the amount is more likely to be lower too.

What are beauty treatment solicitors?

Beauty treatment solicitors are the people you can ask for assistance if you wish to claim for salon injury compensation. They are lawyers who have vast knowledge and experience in handling beauty treatment claims cases.

If you are going to claim personal injury compensation from your hairdresser, make sure that you have enough proof to justify your claims. Gather pieces of evidence, look for witnesses, seek medical attention, and ask help from the right people. The more evidence and witnesses you get, the higher your chances of succeeding with your claim, and the higher your pay-out will be.

Encryption is the process of protecting data. And it is done by changing the data from a readable form to an unreadable format. Complex algorithms are used here or scrambling data in order to protect it, as it becomes unreadable and also can not be accessed.

In case the data falls into the hands of any unauthorized parties, without having the right encryption code to decrypt the data, it can not be read. And when it comes to translating those files into readable, only the members of the organization have access to the encryption keys or the encryption key manager.

Think of it like the way you protect your home from being accessed by any stranger with the help of a lock and key. Here, the lock is the encryption, which keeps unauthorized individuals from accessing your house or, in other forms, your data.

And the encryption keys are equivalent to your house key that is needed in order to lock and unlock the door of your house. Only the person who has the key can lock or unlock the door of your house, or in other forms, encrypt or decrypt the data.

If someone, whom you do not want to enter your house, gets the key, the person can break in and steal your personal belongings. In the same way, in case any cybercriminal gets your encryption keys, they can steal your valuable information.

The Benefits Of Encryption

Here are some benefits of encryption. Just like CRM software for businesses, encryption is also a crucial part due to the below-mentioned reasons.

Data Protection

The volume of data, which is created, managed, or stored by organizations is increasing worldwide and also being diversified. It is becoming more important to have a data protection plan in place. The number of cyber attacks and breaches is also rising more and more.

It also often results in severe consequences for all kinds of businesses. Damage to the brand reputation, revenue loss, operational disruptions, loss of trust from customers, and also legal ramifications are some of them.

Though there are a bunch of technologies for protecting your data from a breach, it is true that encryption is the most effective one.

Compliance

Compliance is the biggest factor, which is influencing organizations to implement encryption within their IT environment. There are also major regulations to exist across several particular sectors, only with the purpose of maintaining the security of sensitive and personal data of clients.

IoT, energy industry, biotechnology, financial services, and healthcare are some of the examples. If you fail to comply with all these regulations, it may result in a various number of penalties, like increased fees, penalties, and also retraction of rights in order to interact with clients only in the given industries.

For ensuring that sensitive data is not compromised, encryption offers a level of protection. It also confirms that all the necessary precautions are being taken for keeping the data safe.

Customer Trust

The study says that around 25% of Americans do not prefer to do business with data-breached companies. The impact a data breach has on customer trust, and loyalty is one of the most significant and biggest consequences.

Yahoo experienced the largest data breaches of all time between the years 2013 and 2014, which had impacted 3 billion user accounts. After they announced the breaches publicly, they were forced to minimize their sales price to Verizon by $350 million.

In addition to that, they also paid a settlement of $80 million in 2018, along with a $35 million fine later. Other search engines and email services with better security service providers surpassed them. Implementing encryption like data protection makes the customers trust and also ensures the safety of their data.

Conclusion

There are a lot more things to know about encryption. But as a beginner, these pieces of information will do great. From there, you will get the basic idea of encryption. You can continue your research to get a better and wider grip.

https://www.picpedia.org/chalkboard/t/technology.html

Many small businesses looking to invest in technology decide to turn to the rental market rather than purchasing tech devices and gadgets. As a start-up or small business, funds can be tight, and paying the high prices to purchase tech devices can be extremely difficult. By renting, businesses can benefit from greater flexibility as well as affordability.

Of course, there are various tech rental companies you can choose from, but it is important to find the right one for your business needs. The company you choose can have an impact on everything from pricing and affordability to choices and suitability. So, it is important to put plenty of thought into the rental company you go with to fulfill your tech needs. In this article, we will look at some of the key factors you should consider.

Your Main Considerations to Make the Right Choice

There are a few key things you need to consider in order to choose the right tech rental company for your business. Some of the main ones are:

Online Reputation

One of the things you need to look at is the online reputation of the provider, and this is something that you can do with ease and convenience by looking at reviews. By reading reviews from others who have already used the same provider, you can get a far better idea of what to expect in terms of service, efficiency, reliability, and overall experience. This will then make it easier for you to make your decision and find the right provider for your needs.

Choice of Technology

You also have to look at the choice of devices that are available from the provider so you can determine whether they can cater to your needs. There are probably various tech devices that you need for your small business in order to aid the day-to-day operation and smooth running of the company. By ensuring you choose a provider with a good selection of tech devices for rent, you can make sure all your tech needs are accommodated.

Competitive Pricing

Of course, you need to also take pricing into consideration, as you need to ensure the cost of rental fits in with your business budget. So, make sure you look at the rental cost of different tech devices that the provider offers so you can work out affordability. Remember, the costs can vary based on not only the type but also the make and model of the devices you choose.

Terms and Flexibility

Finally, take the time to consider the terms and flexibility of the rental contracts to ensure they are right for your and your business. For instance, are you tied into a contract for a specified period? Can you upgrade or downgrade as necessary depending on your business needs? Read through the terms carefully to help you make the right decision.

Benefit from Peace of Mind

By taking these tips on board, you can find the right provider with far greater ease. This then means you can benefit from greater peace of mind when it comes to your tech equipment rental.

 

If there is one thing America has a lot of, it is entrepreneurs. The entrepreneurial spirit feeds the American economy, which is no wonder many American corporations began as small, home-based businesses. However, 2020 was a devastating year for everyone. Several companies had to permanently close operations while others tried to work under pandemic restrictions.

Small businesses were hit hard by the pandemic. According to a report from Facebook, 2.1 million firms closed down permanently, and nearly one-third of small businesses are not operational anymore in the USA.

So, small business owners need to take any chance they get to save their companies. Fortunately, the government introduced several new tax incentives, breaks, and rules to sustain the economy. Following are some of the latest programs introduced by the government.

• Coronavirus Aid, Relief, and Economic Security (CARES) Act: The Paycheck Protection Program introduced by the CARES Act is a forgivable loan to small businesses. They can use this loan to fund payroll, pay their rent and utility bills. Furthermore, any money received through PPP is not considered taxable income.
• Employee Retention Tax Credit (ERTC): A business that had to fully or partially close because of a government-mandated shutdown can use ERTC to retrain staff members. They are also eligible for a tax credit of 50 percent of qualifying wages between March 13, 2020, to January 1, 2021.
• Families First Coronavirus Response Act (FFCRA): Businesses that provided sick leaves to employees suffering from Covid-19 can get 100 percent of the cost of sick leave pay and qualified healthcare plan expenses.

Here is the crux of the matter: several legislations reformed tax law in 2020 to sustain the pressure of Covid-19. However, according to Forbes, 93 percent of small-business owners overpay their taxes.

Most employees find it challenging to be assets to a company due to limited business knowledge. With Covid-19, educational institutions made higher education more accessible by offering online masters degrees.

Candidates who earned a master of business administration online have better odds of being hired and interviewed by business owners keen on surviving during the pandemic, and one of the ways is knowing how and where to save on taxes.

Following are eight ways businesses can save on taxes.

• Hire someone to help you out: Running a small business is a full-time job as entrepreneurs already have too much on their plate. So, adding government paperwork to a long to-do list can make things even more challenging. While a do-it-yourself tax system works for taxpayers with simple income tax returns, complex tax situations need an expert.

A competent professional can help you make better business decisions, and according to one survey, filers saved an additional $840 when they hired a professional. So, it is a good idea to have someone with an mban in your team when you file taxes.

• Keep an eye on the receipts: You should know how and where you spend your money to maximize your deductions. Therefore, organize your track receipts so you can make accurate log deductions.

Keep in mind that business travel charges, such as flights, hotels, and other transportation costs, are fully deductible. Save your receipts for these trips, and you are good to go.

• Vehicle costs and Home office costs: You might not have receipts for some expenses, such as vehicle costs and home office costs, but you can still get a tax deduction for these costs as a percentage of your overall expenses.

For home office expenses, you can either apply for $5 per square foot up to 300 feet or itemize the cost according to space. To calculate vehicle expenses, you must verify that you used the vehicle for business expenses.

1. Take advantage of Retirement plans: Setting up and finding retirement plans can save you money. However, it should be a qualified plan recognized by the IRS. They include IRAs, 401(k)s, or 403(b)s. Remember that these plans defer taxes until the beneficiary withdraws the funds. Small business owners under 50 can contribute up to $5,500 to an IRA plan. Those above 50 can put $6,500 in retirement savings.
2. Take advantage of tax credits: Tax credits are incentives the government gives to taxpayers for certain activities. They are better than tax deductions because they reduce taxable income.

Several new legislations offer tax credits to businesses that struggled in 2020. For example, business owners get credits for going green, providing health coverage to employees, and even qualified employee wages under the CARES Act 2020. The FFCRA also offers small business tax credits for giving paid sick leave to employees.

• Write-off purchases of business equipment: Fortunately, companies can also deduct costs of vehicles, machinery, and business equipment. Most of these write-offs apply within the first year of buying the equipment.

Section 179 deductions help you deduct the costs of assets when you use them. Businesses can also get extra benefits under the TCJA. Business owners can receive a hundred percent tax break for assets used in service between September 2017 to January 2023.

1. Deduct the costs of gifts: Small business owners can deduct $25 per person on the cost of awards for customers and vendors. However, any gifts containing a business logo or that companies distribute as a matter do not qualify. Business owners cannot deduct entertainment costs unless they are related to your business.
2. Use tax filing software: This tip is number one because tax filing software can help you prepare and file tax returns with minimal hassle. You do not have to go through records and recheck them for accuracy.

Furthermore, most tax filing programs have excellent customer support to help you out of a difficult situation. Some tax filing systems even help you determine which pricing plan works for you. TurboTax is an excellent tax filing software for first-time tax filers.

Conclusion:

Small business owners can save a lot of money by following some simple tips. However, the most important hack for tax filing is to begin as early as possible. Most business owners leave this vital task to the last day and miss deadlines. Tax planning is a year-round activity that can save you last-minute stress and hassle. So, do not ignore your tax filing to avoid getting penalties from the IRS.

 

Successful companies often pursue business expansion to attract more customers, enter new territories, and enhance their profitability. While some corporations pursue mergers and acquisitions, others migrate to foreign countries. But experts believe that one of the most practical methods of growing your business is building strategic partnerships with other companies.

You locate a business that complements yours to create affiliations for sharing your budget and accessing an untapped audience. These alliances help you to combine resources with another company to reach your business objectives while accelerating commercial progress. So, here are some factors to consider for a successful business partnership:

• Financial Management

Excellent companies pay keen interest in their financial management processes. It is one of the most critical factors that make a company stand out among its competitors. Risk management, financial stability, account profitability are some of the essential indicators of effective financial management. However, when choosing a business partner, it is always important to compare your target company’s evolution of income statement with other businesses operating in the same industry.

Another critical factor is the team’s skillset that ensures financial management of your and your partner’s company. Since both companies might need to collaborate for various financial meetings, it is good to check on the skills and expertise of your partner’s workforce. As financial management is the backbone of any company, business affiliations with skilled and educated professionals can take your business to new heights.

Many education institutions are now facilitating professionals by offering advanced education programs such as an online masters in accounting for non accounting majors to equip them with the necessary skills. These tech-savvy individuals can contribute to strategic decision-making in your company after collaboration.

• Business Values and Credibility

Alliances seldom work when the two partners don’t enjoy each other’s company and have different business values. Conversely, successful business collaboration relies on shared goals, a positive work environment, effective work management, and strong business ethics. Ask yourself, ‘Does it look like a natural fit?’ before partnering with someone. It doesn’t make any sense to collaborate with a company dissimilar to yours. The alliance between BMW and Louis Vuitton is one of the most prominent examples in this regard. Despite being in different industries, these two companies had one thing in common, i.e., they both marketed to wealthy people. A shared audience made them a natural fit for a business alliance.

Some experts have recommended partnering with your friends since business becomes more efficient when done with people or businesspersons you know already. Though navigating business partnerships with friends/family has its disadvantages too. So, we must also look at the following factors before collaborating.

Companies often partner with well-established brands with an excellent reputation to maintain their brand image. In other words, you should evaluate your partner’s public perception. Since you don’t wish to associate with brands that lack consumer trust, collaborating with well-liked brands or businesses always works in your favor. Just look at what BuzzFeed did. They partnered with the Best Friends Animal Society and made a video showing Emma Watson playing with some cute kittens.

• Commitment and Teamwork

You must look for like-minded individuals before allying. We would suggest you to work only with businesses that are committed to the plan and don’t treat this alliance as a mere side-gig. Avoid working with firms that put all the burden on your shoulders and show no genuine interest in sharing responsibilities. It would be best to collaborate with a company that understands its duties and is prepared to contribute wherever required. The commitment marks an essential feature of business partnerships that entrepreneurs initially neglect to take into account.

Teamwork is another crucial factor that results in the success of business affiliations. This teamwork is responsible for producing effective communication between the two companies. Companies invest in employees’ education to harness their potential and improve their critical skills. Thus, pursuing the master of business administration online degree allows workers to gain finance, marketing, and analytics expertise while being a part of the industry. After the collaboration, your team utilizes these skills to work with your business partner. If the other team doesn’t reciprocate the same willingness to contribute, the partnership won’t succeed. Since you two must act in liaison to benefit each other!

• Networking and Complimentary Skills

Your connection with the target audience perpetuates your survival in the industry. Partnerships are beneficial for your networking capabilities since they help extend your influence over the industry. So, before collaborating with someone, you must consider how broad their network is! Will you get access to more people without harming your existing customers’ interests? Of course, one of the primary aims behind business collaborations is to expand each other’s customer base.

We can see that Apple and Salesforce announced a strategic partnership in 2018. It allowed Apple to enter the CRM technology while Salesforce could make its tech more accessible to iOS users. That’s how a successful collaboration creates a win-win situation for you.

Nowadays, businesses look for people who have different but complementary skills since this difference makes affiliations more beneficial. When Uber partnered with Spotify, they used different but complementary skills to leverage each other’s audience. The partnership enabled Uber passengers to listen to their Spotify playlist during their rides. Such complementary skills ensure that partners don’t steal each other’s customers but benefit from their reputation to seek a quick business expansion.

Conclusion

It might sound strange, but most commercial alliances fail because businesspersons neglect to look for the right factors in such affiliations. In contrast, the right collaborations enable companies to expand by leveraging their connections in the industry. It prevents you from wasting your efforts and resources while inspiring you to become more efficient and productive. It further provides a win-win situation for you and your business partner and enables small businesses to survive and succeed in the long run.

 

Does your business rely heavily on printing documents and other materials? Would your business be crippled if your printing system or devices suffered problems?

If so, you might want to seriously consider adding professional managed print services as an integral part of your business processes.

If you’re not exactly sure what managed print services are or how they can benefit your business, we’re going to be covering some of the key advantages of having a managed print solution in this article.

#1 – Document Automation

The more automated your business processes can be, the better it is for continuous workflow. This applies to your document processes as well. If you can automate much of the process, this saves a lot of time and messing about.

When you hire the services of a dedicated and professional managed print services team, they can help you to automate your workflow with document printing automation processes.

Also, when all of your documents are digitised, you can easily track their whereabouts. This also vastly reduces the manual handling of paper documents.

Anything that streamlines workflow is positive for your business. Document automation is also more secure as you create a digital copy of your documentation.

#2 – Receive Expert Advice On the Right Printing and Copying Equipment for Your Business

Every business is unique and will have different requirements when it comes to printing and photocopying. Rather than trying to match your documents to an existing printer and suffering from limitations, your managed print services team will be able to offer you sound advice on the right equipment for your operation.

They will assess your business needs and be able to devise an equipment setup that’s tailor-made for your business, so you no longer have to deal with any printing or copying limitations.

For example, why struggle with a multi-function machine that can only handle A4 size when you sometimes need to print in A3?

#3 – Save Time for Your Employees

Why consume the valuable time of your employees when it comes to dealing with the printing system? Instead, hire a professional service, have them take care of everything to do with printing, leaving employees free and less stressed to get on with the tasks they’ve been assigned.

Workers don’t have the time (or usually the knowledge) to figure out glitches in a printing or copying system. It’s best left to the professionals to deal with. It’s one of the key reasons why managed print services exist. It only makes sense to take advantage of expert help, rather than tasking it to your employees who have been hired for other roles.

#4 – Managed Print Services Can Reduce Costs

Generally speaking, when it comes to managed print services, you will only pay for what you need, if you choose a company that offers an all-inclusive maintenance package.

Managed print services can connect your devices to a cloud-based system so they can all be monitored at one time. This saves time and money by not having to deal with each printing or copying device separately. This type of monitoring will detect problems, so they can be addressed expediently, reducing any business downtime. Little or no downtime also saves businesses money.

Another way money can be saved is by not overloading your workspace with more devices than you really need. The more printers and copiers you have, the more money you have to spend maintaining them.

#5 – Improve the Security for Your Information

Professional print management services can help you improve the overall security of your documentation processes by introducing secure printing technology, as well as helping you migrate much of your business paperwork over into digital documents. Your managed print service will assess your business document processes and devise a plan that’s the most secure, as well as being efficient and cost-effective.

#6 – Reduce Your Carbon Footprint

If you can reduce the amount of printing you do and the paper you use, your business will be playing its part in helping to preserve the environment. Less printing means less electricity and less paper and toner or ink being used. Be sure to discuss sustainable options with your print management team.

In Conclusion

When it comes to managed print services, Australia has options in major metropolitan areas right across the country, so having a professional service to call on can be a huge benefit to your business and its ongoing success.