Create Systems for Business Growth

Corporate Business Solutions

It’s common for business owners to contemplate scaling and growing their company when their business is excelling. While pondering this opportunity, they focus on improving leadership skills, gaining financing and delegating responsibilities. However, they forget one key component needed to successfully grow an organization – creating systems. The business consultants at Corporate Business Solutions Inc. specialize in helping small businesses throughout Schaumburg, IL. They thoroughly assess the entire organization to determine the best processes and systems to implement to maximize profits, productivity and efficiency.

It takes more than hiring the best team members, securing financing and perfecting your product and service lines. Special attention should also be given to building a systemic and organized approach for running your company. Most small business owners work in their company, instead of on their company. They have the ability to make instinctual decisions, but fail to put the proper systems in place that will allow them to run their companies more efficiently. The consultants at Corporate Business Solutions Inc. can examine your company and make recommendations that will help it to prosper.

The following strategies can be implemented to set your business on the path to growth.

Think of Processes and Procedures Early On

It’s best to give yourself a head start by going over the steps and procedures of operating a business from the get-go. If you’re like most business owners, you didn’t focus on this on day one. However, it’s not too late to change your mindset. You want to transition away from working intuitively towards operating systematically. Document your processes and procedures – the sooner you start, the better.

Assess and Improve Your Processes

Take notes on how you manage day-to-day processes. Be as detailed as possible, so that nothing is left out of your documentations. Ask others in your company to do the same. Find out how files are saved, how major decisions are made, and everything else in between.

Anticipate Problems and Address Them

Brainstorm potential problems that may arise and how you will resolve them. Once identified, meticulously create a response system. Make notes of all steps and procedures, even the the obvious actions. Never assume everyone is intuitive about particular processes. Write it all down, to ensure decision-making processes are understandable by other members of your team.

Document Your New Processes and Procedures

After all the operations have been successfully recorded, consider hiring a third-party company to assess your organization and implement new systems. The experts at Corporate Business Solutions offer consulting services to small and medium businesses. A consultant can provide insights into how processes and systems should be developed and implemented into your company.

Create Systems for Business Growth

Implementing an Exit Strategy for Your Business

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There’s no ONE way to exit an organization. Business owners can opt to pass along their legacy to a successor or sell to another business, individual or investor. Some business owners shy away from the idea of selling their company. There’s a false notion that selling equates to desperation or trouble within the organization. However, a business sale can and should take place when it is performing optimally. CBS consulting offers excellent solutions that will enable you to position your organization for a future sale. The experts at Corporate Business Solutions have worked with small and medium businesses in Schaumburg, IL and across the nation.

Planning Your Exit

A professional from CBS consulting can perform a thorough assessment of your business to help you understand what’s required to achieve your exit goals. Business owners have a variety of options, including selling to an investor or entering into an acquisition, merger or IPO agreement. All opportunities should be explored to determine what would best suit you and the future of your organization.

Why Consider Selling

There are a number of reasons to justify selling your business as an exit strategy. Some decide to sell only a portion of their company. Again, this comes down to the vision you have for your business. In this case, it’s important to note whether the smaller piece of the organization you retain will have more value than the larger portion sold. There are a couple of cases where this would be true.

The Profits from the Sale Allow for an Expansion

The money acquired from selling a portion of your business can prove advantageous if it can be used to purchase facilities and/or equipment. An expansion could potentially make your smaller portion of the existing business worth more than the larger portion.

Selling Grants Access to Valuable Resources

It’s an exceptional idea to allow an investor to purchase a portion of your organization if he or she is able to grant access to resources that will add value to your business. For example, the investor may be able to pass along business to your company. Say you were an owner of a tire service and received interest from an investor who owns a fleet of taxis, who is willing to allow your company to service their fleet upon agreement of the investment deal. It’s important to go over all details during these transactions. CBS consulting experts can perform a comprehensive analysis of your organization to ensure it is presentable to potential investors and buyers.

Implementing an Exit Strategy for Your Business

Boost Your Employee’s Productivity

One of the leading causes of stunted growth within an organization is lack of employee productivity. This, in the wake of healthcare reform issues, can further impact the profits of a company. Research has shown that providing an employee with positive feedback motivates them to perform better. In a recent study, 54 percent of chiropractic office staff that were surveyed stated they would rather work in a workplace where they receive recognition for their hard work. It’s proven that an employee’s desire to do better improves when they are recognized for their efforts. Corporate Business Solutions is a Schaumburg, IL firm that helps organizations improve employee efficiency.

There are a number of ways the experts at Corporate Business Solutions Inc. have accomplished this. The idea is for owners and managers to build relationships with employees that lead to rewards and recognition. This stimulates their work ethic, which can lead to increased profits and employee retention. When workers are happy in their positions, they are more likely to stick around. Operational costs are also lower because workers tend to stay on the job longer.

Experts fromCorporate Business Solutions can assist your Schaumburg, IL business with increasing office morale. The concept of rewards and recognition in the workplace can be used in businesses of any size to boost morale. Following are just a few ways to uplift your employees and the workplace.

Giving Gratuity Cards

Remembering someone’s anniversary, birthday or other special occasion can be gratifying to recipients. Simply giving a worker a hand-written note that illustrates your admiration of the employee can also benefit in creating enthusiasm in the office.

Opening Up Communication

One of the leading concerns regarding recognition is communication. The office can be a busy place, making it easy for leaders in a workplace to forget about their most important assets. A simple compliment here and there can be sufficient for boosting confidence. Research shows that employees would rather receive constant recognition over a raise.

Giving Out Awards

Giving employees recognition in public is just as important as giving compliments in private. Award ceremonies or simply handing out awards in the office can be an excellent way to acknowledge an employee’s years of service, abilities, efforts, and accomplishments.

Providing Training and Development

A lot of employees want to achieve more in the workplace, but are hindered by their lack of skills or knowledge. Providing employees with training and development opportunity can make them feel vested in the company. This also aids in creating more candidates for promotional opportunities.

Creating a Work-Life Balance

When an employees work-life balance is out of whack, it can affect their ability to work. Sensitizing to staff issues in the form of additional breaks, days off or personal time can enable employees to better manage personal and professional strains.

Getting to Know Employees

Leaders of an organization should get to know their employees on a personal level. Take the time to learn about a worker’s family, hobbies, weekends, or other personal details. Show genuine interest to make employees feel valued.

Giving Out Gifts and Gift Cards

Personalizing gifts and gift cards can be a great way to show employees your gratitude. With the information you learn about employees, purchase a personalized gift or gift card based on their interests. This will allow them to appreciate it even more.

Recognizing Performance and Giving Feedback Promptly

It’s important to give recognition to employees who perform satisfactory work. Providing your feedback for positive performance as it occurs enables you to capture the moment. When you wait too long, the feedback becomes less satisfying. It’s better to hand out feedback right away – not only is it preferred, it’s also expected.

The professionals at Corporate Business Solutions have helped various businesses in Schaumburg, IL and beyond with enhancing employee efficiency. Establishing a workplace that boasts high office morale is imperative for your business’s growth and profitability.

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Boost Your Employee’s Productivity

How to Position Your “Made in America” Products

he disappearance of American manufacturing jobs began years ago, creating financial hardships within the middle class. As time went on, hope diminished that these jobs would ever return. However, in recent news, we are starting to see an increase in American manufacturing. The growth is substantial enough to reshore jobs and potentially garner major support from the public.

U.S. manufacturers can use this trend for positioning their own American-made products. Experts from CBS consulting can help with determining the proper way to do this, so that it increases profit margins. We are witnessing a conscious consumer movement that can be tapped into by these manufacturers for the purpose of widening their consumer bases. The service industries can also profit from this movement by highlighting the American-made products they use to perform their services. This showcases their support for the movement, which can shine a light of positivity on their business.

Majority of Americans find it very important to buy American-made, but don’t necessarily expect for products to be entirely made in the U.S. There are a number of companies that have taken notice of this movement, using it to their own advantage. Apple, a company well-known for having products manufactured by China, just started a new campaign that reflects products that are “designed in California.” Another giant corporation taking part in this effort is Walmart, which announced a 10-year, $50 billion initiative to increase production of American products. Although, this would only account for a small portion of their inventory (1.5 percent).

By major entities taking into regard the American-made movement showcases how the paradigm is shifting in favor of American manufacturers. If your organization produces products that are 100 percent “Made in the USA” or just utilizes products that are assembled in the U.S., you can tap into this trend to increase your revenue, advises CBS consulting. A Corporate Business Solutions consultant can help you with assessing how to successfully market your products to this demographic.

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It’s very important to understand your customer and potential customers, so that marketing efforts can be targeted accordingly. Statistics show that 75 percent of Americans 55+ are more likely to buy American-Made products compared to 44 percent of Americans between 18 and 34. The numbers also exhibit the fact that 61 percent of senior citizens go out of their way more often to buy American-made products compared to only 20 percent of 18 to 29 year olds.

With available data, CBS consulting services can be used to research your target audience to determine the best way to position your American-made products for increased profits and maximum outreach.

How to Position Your “Made in America” Products

Corrections You Need to Make for Your Business to Reach its Full Potential

After being in business for many years, it’s accustomed for owners to come to a standstill. This standstill is due to an inability to envision your goals. When that happens, your company is unable to move forward progressively. Corporate Business Solutions has seen this happen within a number of businesses across various industries. Without the ability to recognize the actual problems that are responsible for this setback, it will be impossible to overcome them. CBS consulting services are an excellent way to have your business assessed to determine what the rut is and how to get out of it. Sometimes, a third party view of your corporation is what’s needed to pinpoint the needle in the haystack. Experts are able to find patterns that create these situations.

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There are a few factors that can be inhibiting your business’s progression:

You Failed to Document and Share Your Strategy

A strategic plan is imperative for sustaining and growing your business. In a survey that was conducted by The Alternative board, it was found that 91 percent of business owners witnessed increased revenue when they implemented a strategic plan. The purpose of this plan is to unveil the true purpose of a corporation, along with its long term goals. It provides you with a step-by-step plan to achieve these goals.

You Have Insufficient Alignment

If the goals of key decision makers aren’t aligned with the organization’s leaders, then it’s impossible for a company to function properly. Communication is very important in this matter, especially within the C-suite. The professionals at Corporate Business Solutions have assisted companies with developing a core mission that owners and leaders are both reaching towards.

Your Employees Aren’t Adequate

Knowing whether your workers have the proper skills and know-how is necessary for ensuring that your teams are the best around. Certain qualities are necessary for a company to thrive. CBS consulting services can be used to assess your employees and their leaders to ensure they possess competence and dexterity to perform their job duties. In order for any business to thrive, you need the right people. If you lack talent, then a cleansing of the office may be in order.

You Haven’t Performed a Proper SWOT Assessment

When is the last time you’ve assessed your business’s strengths, weaknesses, opportunities and threats? It’s very possible that your strengths haven’t been properly identified, nor anything else. If you haven’t done a SWOT analysis recently, your competitors may have caught up and your weaknesses could be more rampant than you’d care to admit. It’s important to realize your weaknesses, as well as those of competitors. This is, after all, where your opportunities lie. Knowing how to take advantage of those opportunities, while addressing threats from external factors are key. A business consultant can perform a SWOT assessment that is thorough, along with an action plan.

You Don’t Have a “Driving Critical Success Factor”

Without a DCSF, a company is more than likely to witness stunted growth. Lack of priorities is a common issue within corporations that are in a rut. It’s necessary to identify your Critical Success Factors and prioritize those that are most important. Your number one will be your DCSF. A business consultant can help you to resolve this issue.

You Don’t Have the Proper Advisors

Advice is a critical component of business success. Having reliable feedback that can be used for actionable results is important. Great advisors are a commodity that not every business possesses. This should come in the form of unbiased feedback from a group of experts that are educated and knowledgeable about such matters. When this is lacking, business consultants from Corporate Business Solutions can be utilized.

The presence of any of the above pitfalls can prevent your business from moving forward. These must be addressed strategically in order for your company to reach its full potential.

Corrections You Need to Make for Your Business to Reach its Full Potential

How to Instill Company Culture in Your Workplace

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An organization that doesn’t have a rich culture can witness to an array of problems in the workplace. It can inhibit employee efficiency and even reduce office morale. Offering perks like casual workdays and fun company softball games isn’t always sufficient, especially if employees are required to work in an environment that doesn’t reflect the company’s unique, fun culture. CBS consulting experts understand the importance of imparting a resilient culture for employees. Enhancing company culture transforms the office into a place where workers want to be on a daily basis.

There are a number of elements that can make a work environment gratifying. Turnstone studied high-performing small businesses to determine how they were able to develop a highly productive, well-functioning workplace. There are a few things they all did to improve efficiency in their workplace.

Adding Personality to the Workspace

Interesting architectures, such as high ceilings, open floor plans, natural light, raw floors and other elements make for better work environments. Then designing open floor plans with the flow of communication in mind versus filling them with cubicles promotes productivity. Implementing solo and group workstations can also help to set the mood for different types of projects. CBS consulting services have been used by small and medium-sized businesses for choosing ideal locations for running their companies efficiently.

Identifying What the Company Stands for

The key to creating a workplace filled with culture is to first identify what your company represents. The space has to feel authentic to the nature of the business and what you want to portray. Ask your employees what aspects of their jobs they like best. If they enjoy collaborative assignments, then consider implementing large tables with plenty of outlets for smartphones and laptops. If you have a bring your pet to work day, consider having an area specifically designed with space, toys and treats just for animals. The idea is to embrace the characteristics of your business that workers enjoy the most. If you need assistance with figuring this out, experts from Corporate Business Solutions Inc. can be hired.Adding Elements of Fun and Color

Studies indicate that workplaces that are all work and no play have employees who are less creative and productive. Implementing elements that your employees will find fun is imperative in this case. This can be in the form of ping pong tables, social activities or video games. Color can also have an effect on the culture of a workspace. Consider hanging colorful paintings or painting walls bright colors or adding colorful accents. This will enhance the office and make it more welcoming. Studies show that blue helps workers to feel productive and calm.

There are various aspects of a workplace that need to be assessed for instilling company culture. CBS consulting services can be of great use for analyzing what your culture is and how to materialize it effectively.

How to Instill Company Culture in Your Workplace

Is Your Business Experiencing Growing Pains?

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A growing business is a good thing, for the most part. Rapid growth, of course, can be problematic at times. Even growth at a standard pace can wear on certain organizations if they aren’t properly prepared or structured to handle the changes. If your business is growing and creating different problems and situations, you need to find the best opportunities and solutions. The biggest thing to remember is that the solutions are ever-changing; that is, what worked a year ago might not work this time for your company.

Most mistakes and pitfalls that occur during periods of business growth are preventable with the right resources and structure in place. A business that takes steps to be prepared for growth is going to be much better off than a company that is set up for operation without considering the future of the company. The biggest issue with growth that causes problems is that most parts of the organization are left to grow organically as the company grows, without a structure or growth plan. By implementing plans and strategies ahead of time, you can keep up with the market and avoid the biggest mistakes of growing businesses.

The Stages of Small Business

A business has certain stages of growth that it goes through, and knowing that can be half of the battle in growing your business without the growing pains. These stages all encompass different aspects of the business as it grows, from existence to maturity, and include:

  • Existence: The main issues here are customer generation and retention and product/service delivery. There is plenty of room for growth as the business is brand new

  • Survival: This stage is where a business has demonstrated its workability and the focus switches to the costs and profits of the business, as well as how they affect growth

  • Success: The third stage, which is designated by the company’s reaching its profitable goals and getting past the break-even point. This is when companies will decide to remain stable or expand, but it isn’t always a conscious choice.

  • Take Off: This stage is where the issue of rapid growth and how to afford that growth come up. Businesses need to delegate responsibilities and funds for growth to stay on track with the business as it grows.

  • Resource Maturity: This last stage is where the company ends up after rapid growth. The concerns here include consolidation and control of financial gains, as well as to retain the benefits of small business at the same time.

Throughout all of these stages, having the right tools and methods in place to handle the growth is essential to the company’s success. In many cases, companies grow without intention and that is what results in poor planning or a lack of available resources, leading to financial losses, organizational aches and pains, and other struggles.

Plan for Growth with CBS Consulting

Corporate Business Solutions has business consulting and analysis services that will cater to every small to mid-size business during their growing years. The professional analysts will be able to determine what kind of growth has taken place, how that growth has affected different aspects of the organization, and how to manage that growth properly. Then, it will be easy to make a plan to get back on track and make the business fit the market the way that it should.

Good cash flow control and financial management is critical for any business, but it is especially necessary during periods of growth. Financial constraints are the biggest factor that limit growth for companies in the U.S., and if your company grows without your notice you might not realize you lack capital or cash assets until it is too late. That’s why an effective plan for business growth over time is essential.

Is Your Business Experiencing Growing Pains?