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5 Major Benefits of Using Agile Project Management

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5 Major Benefits of Using Agile Project Management

It’s fair to say Agile has shaken up the project management world.

Scarred by bad high-profile projects that delivered late and over-budget, the brains of the IT world got together to develop an Agile framework. They planned to transform the delivery of complex development projects.

But is Agile as good as people claim it to be? As we explore the top 5 benefits of using the Agile framework on your next project, judge for yourself.

Benefit #1: Adapting to Change

One of the main reasons for the rise of Agile is because it is a highly flexible framework for managing projects. It embraces change.

Traditional waterfall-style projects have a rigid approach to project management. They have a strict project plan, deadline, and scope.

Strict project plans don’t allow for the unexpected, and that’s where Agile performs so well.

The Agile framework is split into small, discrete chunks of work. In between those phases, the project manager can steer the project differently if problems emerge or new requirements crop up.

Benefit #2: Early-to-Market Product Release

The motto of the Agile framework is to deliver small, deliver early. That ability to create a fast product prototype makes Agile popular with technology projects that need that first-to-market advantage.

The Agile framework focuses on prioritizing the work schedule based on delivering the most valuable product elements first. What that means for a business is a rapid app or website launch.

Early launches mean a quick Return on Investment. At the same time, the project team carries on with the less critical features. These project management services can help you put that sort of approach in place.

Benefit #3: Improved Team Relationships

Traditional business projects are top-down. Those in charge set instructions, requirements, and plans. The team carrying out the work is left to deliver this, handling whatever problems and risks come their way.

Agile solves this problem by putting teams in control. Every team member has input into the planning of each phase of the project, including contributing to timescales and scope.

This approach helps to create a more bonded, motivated team. Having a more significant say in the project’s direction means the team is accountable and fully invested in the project’s success.

Benefit #4: Better Control of Budget

Agile enables a project team to maintain close control over a project, emphasizing team support and transparency over issues and risks.

The Agile framework captures problems early. This strategy gives project managers insight into how well the project is getting tracked against the budget. If the development goes off-course, it’s easier to reign in the project.

What’s more, project stakeholders can scrap future development cycles if there is no budget without hurting the efforts of all the work that’s already taken place.

Benefit #5: Strong Focus on Quality

Traditional projects place a great deal of emphasis on delivery timescales and cost-cutting, which often comes at the expense of quality.

With Agile, a project team delivers in increments. Testing is carried out simultaneously instead of getting squeezed in at the end of development.

This approach makes it easier to focus on the quality of the specific work the team is currently delivering and making sure it is fit for purpose.

The Agile Framework Is the Future for Projects

With many successful case studies in Agile-led projects, it is easy to understand the popularity. The Agile framework is beginning to replace traditional project management even in big, established organizations.

Want more support with your business operations? Check out our business section for our latest articles and guides now.

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Tips for Organizing Successful Brand Ambassador Programs

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Tips for Organizing Successful Brand Ambassador Programs

Branding is a vital aspect of businesses, and a good strategy will enhance the credibility of a company, making it outstanding. This happens because most businesses rely on the loyalty of their customers to drive the growth of sales. These customers always leave positive reviews about the brand, thereby, piquing the interest of others in the brand.

When companies involve customers in their branding strategies, it makes the company more authentic. Research shows that utilizing customers in brand ambassador programs creates a significant impact on their lives. As a matter of fact, almost three-quarter of new clients will likely buy from a company based on recommendations and reviews of old clients.

Furthermore, a brand ambassador must strive to organize a message that is coherent and makes a good impact on potential customers. They must also keep tabs on the latest trends in the industry. Let’s discuss some tips that will help you organize a successful program for brand ambassadors.

1. Set the Mission, Vision, and Goals of Your Company

Your company’s mission, vision, and goals are the skeleton of all your programs. You need to know what the product entails, your target audience, including the projections you have made for the company. When you put these together, you will be able to come up with enough information that will enable your product to thrive for a long time.

2. Select Qualified Brand Ambassadors

Branding helps your company to get the needed exposure. But not everyone is relevant when it comes to promoting your product. You need to identify people who are enthusiastic and passionate about your product. Allow them to discuss what makes your product unique, as well as why they will choose your product over others.

Additionally, they should share their thoughts about your product on their social media platforms. This will help you know what the fans of your brand want. When ambassadors recommend your product or service on their social media, it increases the visibility of your company.

However, you must check the background of your ambassadors thoroughly before selecting them. Find out how they relate and engage with people. This will give your company the chance to get genuine reviews from people.

3. Plan Some Programs

Companies usually have several products on the market, so one program is not enough for the entire process. Hence the need to plan more campaigns to reach different audiences. Each target market will have a rep that will come up with the right approach that will grab their attention.

The programs should not appear forced. Rather, they should make consumers feel like they shouldn’t miss the opportunity to patronize the brand. Also, you need to have expectations during the campaign period. This will help you evaluate the effectiveness of the programs and where you need to improve.

Additionally, you can consult a branding agency to assist you with this phase. You can visit this website to see how such agencies function.

4. Build Transparency and Trust

For you to build lasting success, you need transparency and trust in your business. These are the ingredients that build a strong foundation for your business to thrive. You need to make your ambassadors feel like they are actually part of your success journey. This will boost their online representation.

You should also communicate with them mutually and inform them of what is expected of them. This communication should be more personal. This is not the point where you send emails. You must communicate with them face to face.

5. Provide Incentives

Brand ambassadors should get some form of reward for the work they are doing for your company. While some of them want cash, others prefer vouchers or gifts. The secret to attracting a lot of ambassadors is offering them discounts on the products they buy. You can also organize memorable giveaways. Ensure you customize the incentives and make them rare in the market.

6. Accurate Timing

This is an essential factor when running campaigns. Check if there is a crisis, if the products are offering an amazing solution, or if a competitor is posing any challenge. Ensure you consider these before launching any ads.

Additionally, you need to choose the most suitable social media platform to advertise your business. Ensure the platform you choose has a huge number of followers. Most importantly, ensure your target audiences are on the platform.

7. Evaluate the Program’s Success

When tracking campaigns, you should consider several variables such as the type and number of people reached, surveys completed, and much more. However, the key factors to consider are

  • Number of videos and pictures shared on websites and social media
  • Traffic that was engaged
  • Reactions from people

You can visit https://www.business2community.com/marketing/9-helpful-tips-to-measure-the-success-of-your-marketing-campaigns-02257422 to find more information on evaluating a campaign’s success.

Conclusion

Ambassadors make positive remarks on the minds of people, especially when they use the product they promote. This is essential for business growth because any message the company spreads will be very effective. Trust, credibility, and easy access are the things that make customers recommend a product or service.

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4 Common Reasons for Selling a Business

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4 Common Reasons for Selling a Business

Did you know that approximately 78% of small business owners want to sell their small businesses to fund their retirement? However, selling a business is not an easy decision. There’s paperwork to complete, property to sell, and, sadly, employees to let go.

If you want to sell your business but aren’t sure it’s the right decision yet. Don’t worry; you’re not alone. From declining sales to burnout, we’ve investigated some of the biggest reasons that made a business owner sell their beloved business.

Now, are you ready to get started? Here’s a quick look at selling a business:

1. Declining Sales

A decline in sales is one of the most common reasons why owners decide to sell. Although, keep in mind that reduced revenue is not always your company’s fault. Sometimes it contributes to reasons outside your control like a bad economy, high jobless rates, or global health concerns.

If you’re experiencing a decline in sales, try and understand the root of the cause and see if it can be managed or even if you want it fixed. After all, sticking it out can lead to frustration, possible financial hurdles, and not to mention burnout. So, think about what you want and whether you want to sign away your business or fight to keep it.

2. Partner Disputes

Partners can push you to think big, but they can also push you the wrong way. If you and your partner are having recurring disputes about the future of the business, that’s a red flag.

Partners should always be on the same page when it comes to a business’s future. Furthermore, if you feel disrespected or not listened to, you should deinvest with that partner and part ways.

Now, you may be thinking, what’s next? Well, you really only have two options: you can find another partner or sell the business altogether.

Depending on your situation, it may be easier just to find another partner. However, if you already have a decline in sales and have lost interest in the business, it might be good to sell the business to someone who can make it profitable again.

3. Financial Reasons

Even a profitable business makes a few financial hiccups here and there; however, these mistakes can lead to serious difficulties. For example, if you over-invested in a project, you could be left with a large amount of credit card debt, or worse, you could face bankruptcy. If you’re experiencing these financial difficulties, your best bet might just be to sell.

If you’re on the fence, check out fusionadvantage.com; they can help you understand what your business is worth.

4. Burnout

Okay, let’s be honest no one likes feeling burned out, certainly not a business owner. However, if you begin feeling overly exhausted or stop receiving enjoyment from your work, that’s a for sure sign you should sell. Coupled with declining sales and partner disagreements, it’s time you think about your future away from your business.

Reasons for Selling a Business: What’s Yours?

There are many reasons to sell a business; however, the question remains do you want to? Whether it be for financial reasons or partner disputes, there could be a thousand reasons why you should or shouldn’t sell, but the decision rests solely in what would make you happy.

So, are you ready to let go and start anew, or do you want to hang on to your business for a little longer? The best advice anyone could give is to find what will make you happy, so don’t wait; discover your happiness today!

Now, for more information about selling a business, visit our website. We look forward to helping you!

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How to create a GST invoice

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How to create a GST invoice

What is a GST invoice?

A GST invoice or a GST bill is basically a list of all the goods or services that you or your company delivered and the payment that you expect in return for it. A GST invoice is mandatory if your business is registered under the GST and you must issue it while providing services to your clients. Invoice related decisions of the GST are taken by the chairman of the GST council along with other members of the council under the GST act.

To create a GST invoice you must be aware of the fields that your GST invoice should mandatorily have:

  1.     The name of the customer
  2.     The invoice serial number
  3.     The invoice date
  4.     The shipping address
  5.     The billing address
  6.     If the customer is registered then the customer and taxpayer’s GST number (GSTIN)
  7.     If the customer is not registered and the total value of the invoice is greater than Rs.50000 then your invoice needs to have the following information:
  8.     Name of the recipient
  9.     Address of the recipient
  10.     Delivery Address
  11.     Name of the destination state
  12.     Name of the state code
  13.     The place from which the supply is to be made
  14.     HSN code or the SAC code
  15.   Details of the item: should include things like description, quantity along with a unit of measurement of the good and the total value
  16.   The taxable value
  17.   The discounts
  18.   The rate of taxes
  19.   The amount of taxes (IGST, CGST SGST)
  20.   Is the GST payable on a reverse charge basis
  21.   Signature of the supplier

Note: Reverse charge basis means that the liability to pay the taxes lies on the recipient of the goods or services and not on the supplier

You can create a GST invoice in excel using these values and print them in pdf or you can just use one of the countless online tools for it.

For the supply of goods three invoices need to be issued:

  •       Original for the recipient of goods
  •       Duplicate for the transporter
  •       Triplicate for the supplier

For the supplier of services

  •       Original for the recipient
  •       Duplicate for supplier

When should the invoices be issued?

According to the GST act, there are different timelines for different kinds of invoices:

  •       Goods (if the supply of goods is one time): on or before the date of delivery
  •       Goods(If the supply of goods is recurrent): On or before the issue of account statement
  •       Services: within 30 days of the date of supply of services
  •       Services(Banks and NBFC): Within 45 days of supply of services

What is GST E-invoice?

E-invoicing an electronic validation process by the GST Network (GSTN) and has been approved by the GST council in its 37th council meeting. It helps ensure that the invoices that you have generated are valid and meet all the requirements to be used for processes like bill creation or GST return filing. Hence it is a way to verify different kinds of invoices from different accounting software based on common parameters.

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