How To Fearlessly Deal With Threats That Could Compromise Your Business

In the minds of successful entrepreneurs, but also in that of the most rampant freelancers, there is a fixed thought: how to maintain your competitive advantage. This is because once you get to the goal, another challenge begins, perhaps even more difficult, and that is to stay on the crest of the wave.

Threats are around every corner, and Mark Zuckerberg recently demonstrated it crystal clear when Facebook betrayed its subscribers’ privacy. The Palo Alto giant took the hit but will have to work hard to regain user confidence.

There are not only issues related to online security or digital transformation to pay attention to but also concerns related to “analog life.”

Let’s take some practical examples:

  • a period of recession that brings problems to suppliers forcing them to close leaving us suddenly without raw materials,
  • the birth of an innovative super startup that threatens a consolidated business model for years (think of the Uber affair for the Taxi market),
  • new laws that suddenly complicate the regulation of the sector and to which one has to adapt (condominium administrators know something).

The truth is, you never win in business. There never comes a time when you can sit on your laurels and continue to succeed without doing anything to maintain that position.

As this is so, it becomes essential to learn to recognize the risks before they arise and, therefore, know how to deal with them.

“Knowledge is power.”

By borrowing an aphorism agée, we can begin to think of risk reduction as an investment for our future: the more we know about the risks our business runs, the more we will be ready to avoid them. Let’s look at the three most common threats that could compromise our success.

Shortage of human capital

We may have the perception that, due to the high percentage of unemployment, the job market is a magic hat from which to bring out the professional figure we need at any time. In reality, we must admit that not all people have the same skills and knowledge, so some professionalisms are most in-demand. The war of talents exists, and those who possess certain skills are more popular and remunerated. Consequently, some figures are very difficult to find, and consequently, their “cost” is higher.

To deal with the possible lack of human capital, there are two ways to go, possibly in parallel: to recruit and update. Insisting on recruiting even in times of abundance allows your company to be ready if this risk becomes a reality. If necessary, we can outsource the job to an outsourced professional until we find the right person.

At the same time, it is important to strengthen the existing workforce by offering opportunities for updating and education. A good idea is to ask them what they would like to learn and then make it available. Many online portals offer courses, even at low costs (for example, Udemy). This will allow us to have increasingly qualified employees who perceive our willingness to help them reach their maximum potential.

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woman sitting in an office chair

How To Find The Best Office Chair

Are you trying to buy a new office chair? Trying to find a good candidate to replace the seat you have always used can be tough, especially if you are very used to what you are having used for a long time. There are many different choices out there when it comes to a product like this, and you naturally don’t want to end up making the wrong choice.

The following will examine some tips you can follow to make sure that you get the best office chair to suit you.

 

1.     Look at many different shops, both online and in real life

If you are looking to save as much money as possible when buying a new office chair, then it makes sense to shop around to find the best possible deal. The cheapest option won’t necessarily be the best, so you want to find the cheapest version of something that meets your needs and expectations.

Find out what your needs are and browse/ask around for the best providers. This means using Google to search for the best online retailers, as well as taking a look around your local shops. If you want to save time and money spend on travel, you can call up shops and ask them about their stock. However, you won’t have the benefit of sitting in and trying out the office chair before you buy it, and how you feel in it may be a critical consideration when you make your final purchase decision.

Generally, most swivel seats are going to function in a similar way, and the extra money you pay will be on the level of extra comfort that it brings. If you want something made with leather and a lot of padding, then you will need to pay more than one that is of more basic construction.

When you are shopping online, make sure you investigate and learn as much as you can about the company you are ordering from. Check out each of the pages on their site to learn about who they are and what their policy is when it comes to returns/warranties.

 

2.     Do you want it to be pre-built or with assembly required?

Of course, many of the office chairs you will consider buying will come with assembly required. 2nd hand products will already be made, saving you the trouble of putting them together (but they won’t be new).

While this product is not the most difficult to assemble, you want to make sure you do it right. Doing a poor job when assembling it could lead to problems down the road and may even make it dangerous to use if a part is loose and falls out.

If you are planning to personally assemble your new office chair, make sure that you carefully read and follow the instructions. Make sure that you collect all the parts you are going to use for assembly and ensure that you don’t lose any of them during the build.

If you need help, don’t hesitate to ask a friend or family member to assist you. There are even services out there where you can hire someone to build your furniture for you. They will do it very quickly and professionally, allowing you to not worry about the stress of doing it yourself.

 

3.     Is it going to last?

When you are buying a new office chair, you want to make sure you get something that is made with durable materials and is going to last the test of time. This is why you need to be careful when buying 2nd hand.

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Balance Sheet Mutation

Such a development is called a balance sheet change. However, it is not conducive to the overview if you have to process every change or development in the balance sheet. It is therefore customary to report these mutations separately.

Keep in mind that the balance transactions should also be in balance. Suppose you purchased new computer equipment for the employees at the office last summer. The costs: € fifteen thousand. 

For the balance transaction, this means that you have to add € 1500 to your current inventory, while the same amount has to be deducted from the business bank account . In this way, the balance remains in balance.

Need help with drawing up the balance sheet?

Do you have serious doubts whether everything is correct? Always submit the balance sheet drawn up by you to an accountant or accountant first. You can of course also choose to outsource the entire accounting to a professional.

This can be a wise decision – especially if you yourself are not a hero in administrative matters. In that case you must of course take into account extra costs.

Outsourcing business administration

The amount of this amount depends on which part of the business administration you outsource, but for a self-employed person the average costs are estimated at approximately € 600 per year.

Entrepreneurs with employees can quickly count on around € 1,500 on an annual basis.

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