The COVID-19 pandemic was tough on individuals, businesses, and economies everywhere. Organizations had to adjust their operations to stay afloat. In a post-pandemic world, companies have to make more changes to secure their growth in the long term. For example, you may have to alter how you approach marketing during a pandemic and after.
As a business owner, you must take time to regroup and think about running a successful firm in the new world. You might wonder what measures to take to ensure post-pandemic prosperity. Keep reading for a breakdown of actions to take to thrive in the new normal.Economic Recovery After COVID-19: Trends in 2023
The state of a nation's economy affects businesses and individuals alike. Thus, effective economic recovery after COVID will benefit both these groups. Here are some trends for recovery following the pande…
As the CEO, you may want to control every aspect of your business and ensure everything is going well. However, as your company grows, having control of every process becomes impossible. Has your company grown? If so, you need to learn how to delegate like a CEO.
First, separate different tasks into specific categories when pursuing delegation in management. Then figure out who can handle which assignment the best. Then, you'll need to delegate the tasks to the best employees. Now, spend your time focusing on complex and big-picture items.
To learn how to delegate like a CEO, read the guide below. Now, let's get started!
What Does Delegation in Management Really Mean?
Delegation is a vital part of a manager's job. However, many supervisors and managers avoid del…
All businesses must have the necessary funds to drive the cost of production and aid in increasing the overall gross revenues.
However, if the overhead costs, which are the expenses required to keep the business running, exceed the regular amount, the business may suffer a revenue loss.
So, what is overhead? Business owners need to track their business expenses to avoid draining the company’s revenues.
Overhead refers to the working expenses that drive the operation of a business. However, it excludes the costs involved in manufacturing and producing goods and services.
So if you are looking at overhead vs. operating expenses, overheads are the expenses incurred by a business to stay operating regardless of its success in the industry. Unlike operating expenses,…
Finding the right financing options is a major challenge for gym businesses. Many small enterprises, including new gym startups, don’t yet have collateral. In some cases, their structure requires a flexible lending option.
This is where short-term business loans come in. Unfortunately, you probably won’t have much luck at the bank. In fact, an average of a minimum of 80 percent of small business loan applications at banks are rejected. Fortunately, however, there are other options.
With a reputable non-bank short-term business loan option, you enjoy accessibility and versatility. Here’s everything you need to know about how to get a business loan without collateral or a stellar credit score.
A short-term business loan (also referred to as a short-term commercial loan or SBA loan) is a loan that you pay bac…
Negotiation is a necessity for any successful business transaction.
Sometimes, the negotiations shape formal affairs with clear objectives. Other times, negotiation in business is a continuous process that develops to suit parties’ business goals.
Strong negotiation skills are essential if you are looking for success as a small or large business. Let us go through the top five secret tips professionals use for a successful negotiation.Importance of Negotiation for Your Business
Negotiation can elevate your stand on the success ladder, and it’s also an art. Negotiating allows amplification of the value of your work as a business.
However, it does not benefit a single business or person. The negotiation agreements on any cause address important matters or find…
Jim Thomas Fitness Management & Consulting — We have designed a portfolio of service offerings that are intended to go to the root of the issues in the gym industry.
Business & Strategic Planning
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Outsource CEO/COO Services
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Sales & Marketing
Sales Training — Onsite or Remote
When studying the economy, three interest rates control lending to banks, mortgages, and consumer loans. The three terms that often get confused are federal funds, prime, and discount interest rates, which helps with understanding SBA loans.
Anyone wanting to know how the economy works needs to know what the discount rate, the federal funds rate, and the prime rate are and why they are important.What Is the Discount Rate?
The discount rate is an interest rate the Federal Reserve charges for discount loans. This is the rate the Fed sets, so member banks can borrow money overnight if they need funding. The Fed sets the rate to allow banks to borrow so banks don’t fall below their mandated reserve levels.
The discount rate is also called the primary credit rate. The Federal Reserve sets this rate so banks…
Reposted from www.abcfinancial.com
Congratulations, you’ve decided you are ready to become a gym owner. The global fitness and health club industry generates more than $80 billion in annual revenue. However, just because the market is great does not mean you should dive into the industry without proper research and planning.
You need to create a plan to ensure you have the proper certifications, a streamlined process to collect membership dues, know how many employees you’ll need to hire and have an automated way to simplify administrative tasks. Ensuring that you have everything you need to run a successful gym is critical before you make that leap. Below we have outlined 5 things to consider before owning a gym: