Being optimistic in life is a good quality. It’s also great to bring optimism to your team as a business leader. However, there’s a possibility that it turns into toxic positivity. It happens when you force optimistic spirit even when it’s inappropriate, or the other person is going through a significant loss. You don’t want
You need to deal with every aspect of your startup before launching it. It’s not enough to have a great business idea. You also need to form a strong team to ensure positive results. The problem is you have limited financial resources. You can’t afford to pay for dozens of employees to do the job.
When you decided to open a business, you knew that it was a gamble. There’s a chance of succeeding, but there’s also a chance of failing. Several factors could affect how things turn out. If everything turned out the way you hoped, you’re lucky. If not, it’s okay. Not all business ventures become successful. There’s
When you decided to open a business, you were very hopeful. You felt like you had the best ideas, and your plans would come to life. Unfortunately, things don’t always go as planned. There are instances when the business isn’t as rosy as you would hope it would be. During a business crisis, you have
Encumbrance accounting is also referred to as commitment accounting, which involves setting aside money ahead of time to meet anticipated expenses. The amount is set aside by recording a reserve for encumbrance account in the general ledger. This is to ensure that the organization has sufficient funds to meet anticipated payment obligations. https://www.bookstime.com/ In accounting,
Being inclusive should be the priority of businesses today. It’s not about being part of the “woke” culture, but a sincere step towards diversity. The company will benefit from a diverse workforce. For instance, when there are more women on the table, it’s easier to understand the target audiences. If the company caters to their
Getting promoted to lead a team can be challenging. However, it’s easier if you already know the people you will work with. If you’re part of the group before becoming a leader, you already know everyone. There will still be adjustments with your new role, but it won’t be too drastic. It’s a different story
Living a balanced life will always be challenging. When you have to work hard to provide for the needs of your family, you end up forgetting yourself. There are days when you no longer eat on time or get enough sleep. It’s even worse if you’re a business leader. People look up to you. There
You worked hard to let your business take off. You also invested a lot of money to make things happen. However, there are things beyond your control, including this pandemic. Despite your best efforts, it seems like you can’t sustain the business. If you keep going without the same pre-pandemic profit level, you will lose
Whether personal or professional, work scandals can have devastating results. Some companies failed to recover from these problems. Even if it only involved a few people, the company’s reputation still got tarnished. The truth is that it’s not the scandal itself that brought the company down. It’s the inability to handle the sensitive issues. If