The most important part of establishing a business’ longevity is high customer retention, but the first step to achieving that success is acquisition. Finding and convincing new clients to work with your business is extremely difficult; in fact, the cost for client acquisition has grown 50% in just five years. When getting clients becomes a numbers game, it make it harder for small companies to stand out, so you’ve got to go above and beyond to make a lasting impression on the public.
Do you know how much money is spent every year on unproductive meetings? According to a TED report, companies in the United States waste a collective 37 billion dollars on meetings that don’t actually address viable solutions and often just lead to more meetings. Over time, this can severely lower your company’s profitability and, in some cases, lead to bankruptcy. Think about it: if your employees make $50 an hour and you have eight of them attend a one hour meeting, that meeting costs your company $400. Now apply that principle to all of your meetings –has the time spent been worth it?
Creativity is the most precious resource any individual or company can have, because as process-driven jobs dwindle, the ability to solve problems with original ideas is becoming more lucrative. Because of our growing dependency on creativity, however, it can be extremely frustrating when employees find themselves in a rut, unable to come up with any viable ideas. When focusing on being creative can’t guarantee good innovations, what will?
Did you know that only 15 years ago, researchers predicted that the meetings industry would collapse with the introduction of more technological advancements? Clearly, that couldn’t have been farther from the truth. Rather than distracting and confusing us like some pessimistic futurists described, technology has allowed for meeting organizers and attendees to focus on what matters most in any meeting—communication.
Do looks matter? Well, when it comes to your office space, the answer is yes. Your physical space is a huge influencer on your mental space, so it’s crucial that you be attentive when choosing designs for your office. Certain looks can improve productivity, foster creativity, and reduce stress, while other choices can lead to increased fatigue and slower processing. READ MORE
Think of the last time you were excited to go to work. Was it because you were happy in the work environment? Or, if you’ve never felt that way, the general atmosphere of the office may have been a contributing factor. Employees are spending more and more time at their jobs, with some sources citing that a person could spend more than 90,000 hours of their life at work. Because of this, it’s important that an office environment be enjoyable and conducive to productive work. A pleasing environment will attract good employees and customers, which will result in long-term success. Therefore, it’s worth the time and investment to focus on it.
Good office communication is crucial to the success of any business, because the ability to efficiently exchange ideas and information in a professional setting is an invaluable skill. And communication isn’t just about problem solving; it also sets the basis for employees and managers to form solid and efficient work relationships. Unfortunately, advancements in office technologies have made the art of communication difficult to master. A misunderstood email or awkward phone call can lead to halted group synergy, resulting in a loss of productivity for the company.
Team building is usually the first step in any group work, and with good reason. There are major benefits to an effective work dynamic, including increased productivity, improved morale, and higher employee retention rate. When employees feel connected to their job and the people they work with, they are happier overall and are more invested in the work that they do. Synergy amongst team members can be the difference between a successful project and a failure, so it’s important that team managers take care in ensuring that their teams build productive bonds with each other.
As a leader in an organization, team momentum becomes your biggest responsibility. Similar to productivity, momentum is a term that refers to the speed and efficiency with which your team members are able to perform their respective jobs. Maintaining momentum is equally as important as creating it, because your company depends on having long-term, consistent success.
Companies are holding offsite meetings at a rapidly growing rate, and the data shows that assembling in spaces designed to facilitate collaboration can lead to increased efficiency and creativity. More meeting spaces are popping up to meet this demand, but that just means that there’s more confusion for the customer when trying to determine what space is the best quality for them.