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One of the end goals of a business is to grow, Michael Giuffrida notes. Whether it’s adding new branches, services, products, or creating larger spaces for their offices, or acquiring competitors, expansion has always been one of the aims of business owners from the onset (or at least it should be). Image source: Pexels.com Just like any other long-term endeavor a company might undertake, expansion takes careful and extensive planning, perhaps even more careful and extensive than most other projects. The board, as well as management, should have a clear picture of what they want to achieve in terms of growth to keep the quality of their goods and services, and reputation of their brand competitive. Michael Giuffrida mentions that one of the first things to do happens even before everyone takes a step toward expansion. The company should first hire or delegate a group of dedicated individuals to the strategizing and outlining process. This will be the same team that takes the r
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Business points: Important reminders when putting up more branches

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One of the biggest signs that a company is on the up and up is expansion. If a company is hiring more people, purchasing more equipment, and opening more branches, then it means it is growing, explains Michael Giuffrida of Titan Strategic Partners. Image source: virgin.com  However, business owners should be careful when making decisions for their company’s expansion. Here are a few important points to consider when putting up more branches. Timing is everything : In business, timing is always key. For expansion, the right time depends on multiple factors. Business owners shouldn’t rush expansion. Doing so would risk losing the funding that has been acquired for it. Image source: kiplinger.com No owner, no problem : If a company opens up a second branch, can the branch run without the owner in it? Is the management team capable of handling employees and clients without the top honcho present? These have to be answered in the affirmative, notes Michael Giuffrida. The
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Why IT training is a must for today’s businesses

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In this day and age, Michael Giuffrida believes that IT training shouldn’t just be an option, but rather a requirement for employees in many companies. He reminds everyone, especially owners of businesses that rely on computers and servers and websites, that through IT training, not only is the company more efficient, but it is also a lot more secure. Image source: analyticsinmotion.com   While technology and the internet have allowed companies to expand and grow like never before, they have also opened the doors for many unsavory individuals who look to get their hands on whatever information they can. Hackers and cybercriminals are in abundance today, and businesses are never truly foolproof. This is why employees need to undergo IT training to secure a business and the sensitive information it holds. IT training involves everything from simple computer program operations to safety protocols of every electronic device connected to the office network. Knowledge gained from I
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For business owners who are putting their companies on the market, how important is it to resolve all the little problems before entertaining potential buyers?   The short answer is – very.   In many ways, big issues are easier to fix since they stand out and people have a sense of urgency to get them straight.   It’s the little ones that need more attention. Before settling on a price and buying a business, prospective buyers will hire teams of experts and professionals to look closely at what they’ll be acquiring.   This process, often referred to as due diligence, is only standard since businesses don’t come cheap.     Potential buyers will go through all the financial papers, interview employees and clients, and try to look for holes to either not buy the business or pull down its price way below what it was being sold for. Prices of businesses are usually held back and may change if potential buyers find things that were not disclosed by sellers in the first place.
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The Boston Celtics is still the most formidable team in the East playoffs

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Image source: express.co.uk Things are looking up for the Boston Celtics these NBA playoffs. After a regular season replete with issues on chemistry and on-court bickering, the team seems to have found its stride, mused entertainment writer Mike Giuffrida. The Celtics breezed past the first round, defeating Indiana via a sweep. Moreover, as of this writing, they’ve blown out top-seeded Bucks in the first game of the second round of the Eastern Conference playoffs. A huge part of Boston’s newfound success is the sense of focus they’ve gained after losing Marcus Smart to injury in the first round. The loss of its starting two-way player and defensive stalwart seemed to have rallied and galvanized the team and led the players to trust one another anew. Even though Jayson Tatum has yet to be consistent on offense these playoffs, the improved game of players like Kyrie Irving, Terry Rozier, Al Horford, and Marcus Morris are more than noticeable. Image source: celticsblog.com Of
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The importance of a yearly budget for small businesses

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One of the biggest mistakes small business owners make is neglecting to come up with a yearly budget. This is different from the one, three, and five-year projections made before opening the company. The annual budget takes into account all the things that take place while the business is actually running. It’s this yearly budget that allows owners to make some adjustments to the business. More or less, it can be considered a "readjusted operating budget." Alongside these invaluable operation tweaks, owners can also see the bigger picture and have confidence in the business. Image source: business.com The readjusted operating budget may take a lot of work, so it is best to start with simple numbers at first. Predict both revenue and revenue growth and list direct costs (costs of products sold and the expenses for their delivery). More often than not, numbers, especially for the first year, will only show the business either breaking even or at a loss (if the
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Company emails on personal mobile phones: Is it good practice?

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For two decades now, the email has been one of the main avenues of communication in business for good reason. Emails are messages that can be sent and read instantaneously, and provide an unprecedented level of convenience. Image source: information-age.com Nowadays, it’s common practice for some companies to have their employees access the company email on their personal mobile phones. It’s common practice—but is it good practice? Is it safe? What are the chances that other people outside the company will take advantage of the company email? These are questions a number of managers have been trying to answer. This is one of the reasons the AUP or acceptable use policy exists in companies. And this needs to be emphasized as soon as an employee starts training to be a regular part of the company. Employees need to understand their responsibility and put it in black and white by signing the AUP. Companies also need to have plans in place if an employee loses his mobi
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