Etiqueta: conference

How to build a PC

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Typically, inventory types can be grouped into four categories: (1) raw materials, (2) works-in-process, (3) finished goods, and (4) maintenance, repair, and operations (MRO) goods.

  1. Raw materials are any items used to manufacture components or finished products. These can be items produced directly by your business or purchased from a supplier. For example, a candle-making business could purchase raw materials such as wax, wicks, and decorative ribbons.
  2. Works-in-progress inventory refers to unfinished items moving through production but not yet ready for sale. In the case of a candle-making business, work-in-progress inventory might be candles that are drying and unpackaged.
  3. Finished goods are products that have completed the production process and are ready to be sold: the candles themselves.
  4. Maintenance, repair, and operations (MRO) goods are items used to support and facilitate the production of finished goods. These items are usually consumed as a result of the production process but aren’t a direct part of the finished product. For instance, disposable molds used to manufacture candles would be considered MRO inventory.

As you’ll see below, there are other terms such as “decoupling inventory” and “pipeline inventory” used to describe types of stock based on its theoretical purpose and use. Nonetheless, physical inventory almost always falls into one of the four categories above.

Annual Edinburgh Festival Fringe

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Over the summer, the Edinburgh Festivals bring a wave of colour and soaring excitement to the city. Seven spectacular festivals proudly serve up the most incredible smorgasbord of culture you could ever imagine, filling the city’s performance venues and event spaces in late June, July and August.

Attend a star-studded film premiere at the Edinburgh International Film Festival and listen to top class live music when incredible musicians from all over the world roll into town for the Edinburgh Jazz & Blues Festival.

There’ll barely be time to catch your breath before Edinburgh Art Festival launches, an unmissable opportunity to see awesome and thought-provoking visual works created by talented Scottish and international artists.

Global resort network gambling

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Of all the famous European music festivals, the Glastonbury Festival has a special place. Held in Somerset, England, since the 1970s, the festival is a major part of the British culture. Major pop act performers in contemporary music among others are invited to perform and headline. The festival sees as much as 175,000 people in attendance and is the world’s largest greenfield festival. Beyonce, Dave Grohl, U2, Coldplay and almost all other pop stars have performed at the festival, and it is truly one of the most popular festivals in Europe.

Primavera Sound

Festival lineup: Erykah Badu, Tame Impala, Solange, Future, Cardi B, J Balvin, Interpol, Janelle Monáe

Indie King and forceful supporter of new music, Primavera Sound prides itself on pushing the alternative scene forward. Creativity is paramount, with headliners often standing out from the festival crowd.

When & where: 30 May – 1 June 2019; Barcelona, Spain

Primavera Sound 2019 Guide / Book Primavera Sound 2019 Tickets & Accommodation

How To Use Linkedin For Business Marketing

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With 562 million users, LinkedIn is all about building networks and connections. It’s not only about who you know, but about who your connections know.

That’s the real power of LinkedIn for business: the ability to tap into existing connections and grow your brand through word-of-mouth. It’s also the top-rated social network for lead generation.

If your LinkedIn marketing strategy is limited to a personal profile—especially one with an out-of-date, bare-bones resume—it’s time to up your game. You need a detailed Company Page if you want to grow your audience and drive business results.

In fact, according to insights provided to Hootsuite from LinkedIn, completed Company Pages generally receive twice as many visitors than those with incomplete pages. And organizations that post at least monthly generally gain followers six times faster than those that don’t.

How To Separate Personal & Business Finances

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No matter what industry you’re in, money is the great unifier among small business owners. Whether you’re spending it, trying to keep track of it, or (hopefully) making it, money is always on your mind. And there are a few things every business owner needs to do in order to manage your money the right way—but nothing’s more important than separating your business and personal finances.

Sure, you could keep your business and personal finances together. You couldalso stick your hand in the oven to pull out a tray of brownies without an oven mitt. But, as you know, there’s a big difference between “could” and “should.”

Why should you be concerned about keeping your business and personal finances separate? Legal liability, easy bookkeeping, and good financial hygiene—both for you and your business alike. Establishing a financial firewall between you and your business (even if your business is just you on your own!) is pivotal for your own protection and sanity come tax time. And, above all, seriously important for protecting your personal assets.

What Is UPI & How It Can Benefit Your Business

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The Unified Payment Interface (UPI) can be thought of like an email ID for your money. It will be an unique identifier that your bank uses to transfer money and make payments using the IMPS (Immediate Payments Service). IMPS is faster than NEFT and lets you transfer money immediately and unlike NEFT, it works 24×7. This means that the online payments will become much easier without requiring a digital wallet or credit or debit card.

Currently, if you want to make a bank payment online, you have to enter their account number, account type, Bank name and IFSC code. Even if you have all these details, typing it all in, particularly on a phone, is a painful process. Most banks take upto 12 hours to add a new payee and only then you can make the transfer.

The idea behind the UPI is to do away with all of this. The interface will allow account holders across banks to send and receive money from their smartphones using just their Aadhaar unique identity number, mobile phone number or virtual payments address without entering bank account details.

According to NPCI, so far only 29 banks have agreed to start this service. If your bank is UPI-enabled, you can ask it to connect you to the system. To initiate a transaction, you can use two types of address—global or local. Global address includes your mobile, Aadhaar and bank account numbers. A local address can be a virtual address. Let’s say your bank gives you a virtual ID similar to your email ID (for instance, name@companyname). This virtual address will allow you to send and receive money from multiple banks and prepaid payment issuers.

Tip To Manage Healthy Cashflow In Your Business

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Trying to run a business without managing cash flow is like trying to paddle a boat without an oar. Even if you succeed, it will be an upstream exercise guaranteed to wear you out.

Cash flow is important for all businesses, but it is critical for early startups. If you cannot manage your cash flow within the first year, you will likely not survive the second year.

The three key elements of your cash flow analysis include:

  • Accounts receivable: What customers and clients owe you.
  • Accounts payable: What you owe your suppliers.
  • Shortfalls: You hope not to have these, but they do happen (see #3).

You must effectively manage all three if you want to navigate your business to success. Of course, the best direction to paddle a canoe is with the current. You’ll go faster and won’t wear yourself out. By the same token, your business will be healthier if you manage your cash flow toward the profit line. Here are a few tips to help you row your cash flow boat successfully:

1. Determine Your Breakeven Point

You should know when your business will become profitable, not because it will affect your cash flow — because it won’t — but because it gives you an early goal to strive for and a ready-made target for projecting future cash flow. Negative cash flow and negative profits make for a grim combination. Focus your efforts on managing your cash flow with an eye toward reaching that moment when you realize your first profits.

2. Focus on Cash Flow Management, not Profits

This may sound contradictory to #1, but it’s not. Use your breakeven point as a benchmark. After you reach breakeven and your business is profitable, you still need to manage your cash flow, of course. You have reached another stage of your business’s life.

Why Visionary Leadership Fails

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Building the right culture within their team and setting strategic direction that’s aligned to that of the organisation is vital for a leader to ensure the success of their team. However as the research in a recent HBR article (Why Visionary Leadership Fails, Nufer Yasin Ates et al, 28 Feb 2019),  indicates the strategic alignment of leaders at all levels across the organisation cannot and therefore should not be assumed as a given.

All too often we see large organisations going through restructure after restructure. A change is made, it does not work and so we try again. However is it the change itself that is the problem or the commitment to that change? We know that a lack of decision in business can be highly damaging, delaying progress and delivery to our customers, however what’s so often more detrimental is when decisions are made but then there is a lack of commitment to their outcomes. This is more often than not because key players – at all levels – were not involved in those decisions in the first place. Without input from our colleagues we cannot possibly expect commitment. Gone are the days of the top down approach. We must listen to our customer, and leaders must not forget that your customers are those who you lead.

Reclaim Your Creative Confidence

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Most people are born creative. As children, we revel in imaginary play, ask outlandish questions, draw blobs and call them dinosaurs. But over time, because of socialization and formal education, a lot of us start to stifle those impulses. We learn to be warier of judgment, more cautious, more analytical. The world seems to divide into “creatives” and “noncreatives,” and too many people consciously or unconsciously resign themselves to the latter category.

And yet we know that creativity is essential to success in any discipline or industry. According to a recent IBM survey of chief executives around the world, it’s the most sought-after trait in leaders today. No one can deny that creative thinking has enabled the rise and continued success of countless companies, from start-ups like Facebook and Google to stalwarts like Procter & Gamble and General Electric.

Students often come to Stanford University’s “d.school” (which was founded by one of us—David Kelley—and is formally known as the Hasso Plattner Institute of Design) to develop their creativity. Clients work with IDEO, our design and innovation consultancy, for the same reason. But along the way, we’ve learned that our job isn’t to teach them creativity. It’s to help them rediscover their creative confidence—the natural ability to come up with new ideas and the courage to try them out. We do this by giving them strategies to get past four fears that hold most of us back: fear of the messy unknown, fear of being judged, fear of the first step, and fear of losing control.

What Are Fixed Assets & How To Account For Them

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Companies acquire fixed assets as long-term tangible property. These assets are used in daily business operations to generate income for the business. Often referred to as the ‘capital’ of the business, they include items such as machinery and plant equipment. Their defining feature is that they are not converted into cash in the first year of acquisition. Firms tend to invest in fixed assets for the following objectives:

  1. To enable the production or supply of business goods and services
  2. To act as rentals for third parties
  3. To be used in regular organizational workflows

People often ask how fixed assets are different from inventory. Business inventory is defined as any current asset in the financial database of your organization. Goods classified as inventory signify the company’s worth and can be easily cashed out to cover up any existing debts. For simplicity, inventory can be divided into four categories:

  • Raw materials needed for manufacturing items
  • Goods and services in progress
  • Finished goods
  • Maintenance, repair and operating supplies

As you can see, this is completely different from a fixed asset, which is often a finite, long-term investment. Another point that must be clarified is that fixed assets don’t have to be ‘fixed’ in the sense of being stationary or immobile. They can easily be moved around from one location to another, with vehicles and computer equipment being good examples of this.