Beyond control: 4 external factors that can impact your business

As we all know, most boardrooms want immediate action when a downturn in business performance occurs. Unfortunately, it’s generally not quite as simple as that.

Markets are volatile things, particularly nowadays, and it means pinpointing these downturns can be more difficult than ever before.

This is one of the reasons why accounting companies like 3 Wise Bears are so popular nowadays. By keeping on top of your accounts, you can at least spot holes a lot easier – and make things like a PESTLE analysis simpler.

For the purposes of today we are going to focus on external factors when it comes to running your business. Let’s now take a look at four issues that often slip by the net when it comes to scrutinizing performance.

The weather

It might be something of a headline-grabber, but you might be surprised at just how much the weather can impact the performance of a business.

For example, if a winter is particularly warm, a ski company might struggle much more than in previous years. Or, if there was a particularly cloudy and rainy summer, a window blinds company might have similar difficulties.

To some, this might seem like the easy excuse, but there’s no doubt that some businesses are affected by the weather much more than others.

The seasonality

In some ways, this is similar to above. However, all businesses have waves of seasonality, and it’s worth looking at this as a priority before you dig any deeper into your company’s performance.

To coin an example, for a lot of brands December is a particularly slow month. This is because people are off work, and generally having downtime. When one considers the festivities, buying products tends to be at the back of their mind (at least after the 25th December).

The political factors

Like it or not, politics can play a part as well. We’re not going to dive too deep into politics, but suffice to say certain legislation is going to impact some businesses more than others.

If we were to coin a real-life example, it could be with high-interest loans in the UK. Legislation was passed which meant that companies offering such a service were under much tighter regulations – and this had severe effects on the way they operated.

The economy

Finally, let’s leave one of the biggest macro factors until the very end. Granted, the economy is going to vary between nations, but as a whole it would be fair to say that it is struggling at the moment .

For most companies, the repercussions are obvious. Customers just aren’t willing to spend the money that they once were – and they are a lot more conscious about price than they may have been in the past.

It can mean that companies offering more of a budget service can start to grab market share, while it can also mean that markets start to shrink. Either way, this is an external factor which is really difficult to affect.

Top Tips For Aspiring Entrepreneurs

Do you have aspirations of being an entrepreneur? Many people like the idea of starting their own business ventures, and it is easy to see why as it can be incredibly rewarding to build a successful company from the ground up. As any experienced entrepreneur will tell you, this is no easy feat and it will take much more than a good business idea to succeed. You see many aspiring entrepreneurs make the same mistakes time and time again so it is important to know a few tips which should help you to hit the ground running and hopefully find success in your ventures. Here are a few key tips. Continue reading “Top Tips For Aspiring Entrepreneurs”

Lessons Learned from a Background Checks Clerk

So this week we sat down for a bit of a chat with a former background checks clerk, which is basically just somebody who follows up on the information presented in situations which involve the appointment of professionals. Her job was specifically to make sure employees who are already working for the companies that employed them were sincere in the information they included in their CVs or resumes. A very interesting job indeed, but she had some valuable lessons learned to share with us. Continue reading “Lessons Learned from a Background Checks Clerk”

The absence of financial literacy in schools: Why money matters for future generations

As the old saying goes ‘money makes the world go round’ – money affects us all and is at the forefront of our daily lives, so it comes as a surprise that today’s generation of adults are not well equipped at handling their finances.  According to a 2018 study, three quarters of Brits are worried about money, with over half of adults in the UK expressing concern that their mental health is suffering as a result. Worryingly, young adults often feel that they have not been educated enough on financial matters at school. So, how do we improve the situation and teach young people how to manage their money? We’re taking an in-depth look into the issue with the help of company liquidation specialists Business Rescue Expert. Continue reading “The absence of financial literacy in schools: Why money matters for future generations”

3 Ideas To Bring More Traffic To Your New Business Website

Starting a new business can be hard. What can be just as challenging is trying to build a completely new business website that now has to compete against all the other websites that have been live for years and years. 

Continue reading “3 Ideas To Bring More Traffic To Your New Business Website”

4 Workplaces where you should still opt corporate tie

Fashion by its nature is a constantly evolving field and the suit and tie have seen many changes no different to any other type of clothing. However, it is a pretty undeniable fact that ties have fallen out of popularity in recent years.

Continue reading “4 Workplaces where you should still opt corporate tie”

Make Your Business Trip Stress-Free With These Tips

If you’re new to traveling to Scottsdale, Arizona on business, you probably want some tips to reduce the stress from your trip. Work travel can be stressful if you’re not well-prepared. That’s why it’s so important to plan things out as much as possible in advance so you’re able to relax more. Doing so sets the tone for the trip and helps you to overcome any challenges you’re faced with along the way.

The following list of tips and suggestions help you achieve everything you set out to do with greater ease. They’ll serve as a blueprint for your travels by allowing you to take a big picture approach to thinking things out and narrowing down the details of your plan. You’ll be able to check things off your to-do list effortlessly because you’ll have taken care of some of the hard work before leaving for your trip.

Stay at a Hotel That Treats Its Business Travelers Well

Among the best hotels in Scottsdale is the Andaz Scottsdale Resort & Bungalows. It serves as your home away from home while conducting business in Arizona. As a resort-style hotel, it offers premium amenities such as spacious rooms and expansive spa services. It also has meeting rooms which are perfect for working with colleagues, clients, and vendors onsite. Eliminating the commute from one location to another saves you time and is among the best stress-free tips you can implement into your travels.

The W Scottsdale is another upscale option. The hotel is great for younger business travelers who want to play as hard as they work. It has a fun, modern design and beautiful desert views. It’s also close to world-class shopping, nightlife, and other fun spots.

Other ideas that help improve the quality of your trip quickly include:

Bringing the comforts of home with you.

Whether it’s a favorite pillow, a photo of a loved one, or your own personal choice for coffee, know that it’s the little things that mean the most at times. Although your hotel, if you choose the right one, has everything you need to enjoy a comfortable stay while visiting Arizona, it’s nice to have something that you’re familiar with to come back to after a long day of meetings or conferences.

Try to eat as healthily as possible.

Traveling long distances can take its toll on your body. Do your part to reverse the damage of sitting too long or feeling extra indulgent by drinking plenty of water and eating healthy meals that keep you going throughout the day. Taking advantage of the hotel’s breakfast is one way to have access to fresh fruits and vegetables. You may find that things such as granola and yogurt are offered, too. You can also consider munching on some weed gummies since cannabis-based products like these can help you manage stress. You could either purchase some at a local store or check out how to make weed gummies, prepare and store them in your carry-on before you set out on your journey.

Call ahead to make sure that you still have reservations.

It’s a standard practice that removes some of the stress that takes place when you’re forced to cancel and change plans. You’ll be well aware ahead of time if a mishap has happened. That way, you can work to take care of the issue before it becomes a bigger problem for you. It may be best to have a back-up plan for every detail of your trip just so that you have all your bases covered.

Enjoy a stress-free business trip experience going forward. You now know exactly what you need to do to make it happen. By applying the tips listed above, you’re able to achieve smoother travel and transactions in Arizona as well as anywhere else you choose to journey to. You won’t be left scrambling to change your plans or make last minute reservations. Instead, you will be calm, cool, and collected at every stage of your trip.

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