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Expansion across the Americas: The importance of maintaining national rapid growth

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Expansion across the Americas: The importance of maintaining national rapid growth

By Sunny Ackerman, President of Americas at Frank Recruitment Group

When it comes to great moments in a company’s lifecycle, expansion is among the most exciting.

Watching your business grow and develop is thrilling, and an indisputable sign of your continuing success.

Sunny Ackerman, President of Americas at Frank Recruitment Group

Sunny Ackerman, President of Americas at Frank Recruitment Group

If you’re in a position where you think it may be time to take on a new market, there are an enormous number of considerations to wade through to ensure that you don’t overreach and jeopardize the strong foundations of your company. Expanding your operations or opening a new branch can feel almost as dicey as starting a new business; so, is it worth the risk?

They say in business, you’re either growing or you’re dying. Growth rate is the ultimate indicator of the health of your organization—you might focus on turnover, market share, profits, sales, or head count, but however you measure your growth rate, if it’s not climbing, then your business viability is in question.

Even if you’re happy with the level that your business is operating at now, by eschewing growth opportunities, you’re rolling out the red carpet for your competitors to move into that space and snatch up more market share. In addition, fixating on one location, or market, is akin to putting all your eggs in one basket, giving you no backup if business were to dry up in the future.

Maintaining growth is more complex than ever in the modern age, but remains of principal importance for the majority of businesses. Gartner’s 2018 CEO Survey[i] reported that CEOs ranked growth as their top priority for 2018/2019, and while many CEOs are looking for deeper structural sources of growth, national expansion remains one of the most effective ways to expand your company.

There’s no business without customers, so clearly reaching new audiences in new markets is crucial to increasing your profits and allowing your business to develop. In an increasingly connected world, there is more opportunity than ever for businesses to expand their operations across the country, with minimal disruption to primary operations.

When I joined Frank Recruitment Group as President of Americas earlier this year, I immediately began looking for strategic locations from which we could build our presence across the North America. Since then, we’ve opened a new office in Tampa, bringing the number of US hubs to six; two more are set to open in Denver and Phoenix later in 2018.

As niche technology recruiters, we see first-hand how fast the tech sector moves; this constant innovation makes it an incredibly exciting space to work in, but it can also create skills gaps when tech professionals can’t catch up with mushrooming demand for experience.

As President of Americas, my job is to make sure we’re serving the US as best we can. There is enormous opportunity in the tech sector right now; tech is far and away the fastest growing industry in the country, and vibrant new tech hubs are springing up all the time.

Maintaining rapid expansion can be challenging even in the most blooming markets, however—when you’re looking to take your business into pastures new, here are a few of the core issues to consider before throwing a dart at the map.

Identifying new market locations 

No one wants to stagnate, and you should always be ready to move into new spaces when opportunity and circumstances allow. However, be careful to avoidexpansion for expansion’s sake.

When business is good, and your feet are getting itchy, it can be all too easy to get caught up in the excitement of a move and breeze through your due diligence. You need to take the time to identify the right place for your business to move into. Find out where the growth in your industry is taking place, or even better, where it may take place in the near future. Trying to get in on the ground floor is always more risky than expanding into a geographical market that’s already established, but the rewards can be huge if done right.

Five years ago, almost every tech company in the US wanted to have a base in Silicon Valley. The Bay Area was the place to be for both start-ups and established tech enterprises, but today, the high costs of doing business and over-saturation of tech companies, many firms are beginning to branch out from the California tech bubble.

We used to think of the tech industry being concentrated in the country’s costal conurbations, but digital transformation is happening everywhere—and with it comes massive job growth. Places like Denver, Austin, Chicago, Minneapolis all have booming start-up scenes, with many cities funnelling massive amounts of money into start-ups to help drive local tech economies.

If you keep your ear to the ground in terms of which cities are piping money into your industry, you can get a good idea of where your sector will be taking off next.

Talent acquisition

A great team is the backbone of any successful business and having the right people in your corner becomes doubly important during expansion. Employees hired to help your business grow have a heavy load to bear; not only do they need to live up to the standards that’ve helped your business succeed so far, they’ll also need to be able to shoulder the business through the busy and often stressful growth period.

When moving into a new market, your employees are on the frontlines of business development, and the impression they leave in your new base of operations can make or break your expansion plans from the moment you land.

If you’ve spotted a great opportunity to grow or have set your expansion an ambitious timeline for your ribbon-cutting, you need to make sure that your time-to-hire isn’t coming at the expense of quality acquisitions.

This doesn’t just apply to new hires, but also to any internal moves you may be planning to staff your new location. Culture is fast becoming one of those corporate buzzwords, but the sentiment behind it is crucial; the most important factor in expansion hiring is finding people who share your vision and have the passion to help carry your business forward.

That said, it’s still important to do some research into your new market—average salaries, local regulations, competitor businesses—to make sure you’re attracting the right people.

Driving brand presence

Once you’re set up in your new market, you need to let people know you’re there. Most businesses don’t carry the kind of prominence that allows a company to drop a new branch anywhere they like and gain instant recognition. Brand awareness needs to be built all over again when it comes to new locations. The good news is that by this point you’ll have already mapped out your target demographic, your customer personas, and your brand voice will be well-established, so putting all those pieces together to form a marketing strategy shouldn’t be too big a task.

Brands thrive on customer loyalty, and brand advocates are hugely significant when it comes to building a name for yourself in a new market. Setting up a referral plan to help generate business is not only great for getting your name out there, but also provides the added bonus of steeping your brand in the sense of trustworthiness and reliability that can only come from a recommendation from previous customers.

Advertising can still be a massive win for businesses when done right, but don’t forget about thought-leadership when it comes to establishing your brand presence. Teaming up with local publications to provide useful, relevant advice and insight is a great way to position your company as a knowledgeable, supportive force in the market.

The ever-pervasive power of social media can’t be undervalued either. Focusing your efforts on the most appropriate platform for your business type can help you target new customers at a granular level, in a way that other, more traditional methods of advertising just don’t allow.

Whichever way you decide to build your presence, the most important part of new market penetration is keeping your brand essence intact. Translating what makes your brand unique and successful is key to growth—expansion is about reproducing your achievements in a new space, not diluting your brand. What you’re aiming for is a full-colour reproduction of your operations, not a copy of a copy of a copy, and as long as you’re achieving that, you’re heading in the right direction.

Business

Staff training crucial for SME recovery post-COVID

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Staff training crucial for SME recovery post-COVID 1
  • 47% of UK’s top performing SMEs provide regular, formalised training for all staff
  • Despite this, 15% of small businesses report to never training staff
  • New findings come as part of an independent, holistic study into small business success, commissioned by Allica Bank to support British businesses

A new study, commissioned by business bank, Allica Bank, shows that the practice of regular training correlates strongly with high performance in SMEs and will be vital to businesses’ prospects of a swift recovery post-COVID. The study analysed data from over 1,000 companies and ranked their success on a scale that evaluated factors including productivity, growth, consistency and outlook.

Post-pandemic, many businesses will be focussing on day-to-day survival; it might be easy to forget long-term planning, of which staff training is a key component. Allica Bank’s findings indicate that small businesses should incorporate training programmes into their recovery strategy to ensure long-term viability. Training will improve morale, retention and boost the company’s credibility.

The study showed that routine staff training is a common characteristic among the most successful SMEs. 47% of the 100 highest scorers on the SME Performance Index provided training for employees at least on a quarterly basis. However, nearly half of all small businesses (46%) only provide training once a year or less, inadvertently hindering their growth and success prospects.

Frequency of training also differed across sectors. 34% of legal businesses provide training for staff once a month compared to just 6% in the hospitality and leisure sector. Whilst there will always be sector-specific disparities, firms in all industries can benefit from boosting and improving their training programmes.

Chris Weller, Chief Commercial Officer, Allica Bank, said:

With so many concerns and barriers for small businesses to navigate in the immediate term, it can be difficult for managers to focus on the training and development of their teams. However, if COVID has taught us anything, it is that adaptability and resilience are invaluable.

“The provision of regular training not only builds these characteristics into teams but serves to maintain a sense of value and togetherness that will boost morale, aide retention and improve performance – all of which contribute to the ongoing success of a business.”

“There is no one-size-fits-all approach to training, but it’s vital for business longevity that staff are supported with a formalised programme of some description. Customers will respond well to a company whose employees demonstrate enthusiasm and competence. Employees also need to feel that their skills are constantly being improved and expanding. These skills will contribute to the success of a company and this will feed through to the bottom line.”

Allica Bank’s SME Guide to Success identified six ‘rules to success’ that were more likely to be displayed by top-performing SMEs compared to their counterparts. The full report contains a wealth of additional data and insight into each of these topics.

As part of its mission to empower small businesses, Allica Bank is making the findings freely available and running a series of free online workshops with relevant partner organisations for businesses to attend.

Aliya Vigor-Robertson, CEO, JourneyHR, the expert partner for Allica Bank’s training workshop, adds:

Staff need direction and the knowledge that they are advancing in their career to stay motivated and engaged at work. An unmotivated, disengaged team is no recipe for long-term success and will ultimately hamper a business. Team members that lack tangible support from above are less likely to identify with their role and its duties, which is a completely natural reaction.

“Regular staff training is a key component of tangible support and will make the team feel secure in their career development. A happy team with purpose and direction will contribute to a thriving business”

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What Is Globalization

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What Is Globalization 2

What is globalization? Globalization, or inter-connectedness, is the ever-growing process of integration and interaction among countries, individuals, businesses, and even governments all over the world. Globalization has rapidly accelerated in recent years because of advances in communication and transportation technology. This allows us to be able to get from one country to another quickly and easily. This also allows us to communicate freely use the Internet to connect with our friends and families around the world.

So what is globalization and why is it important? Globalization will benefit many people around the world who are looking to travel more freely, save money on their monthly expenditure, be able to meet new friends and relatives from different parts of the world, learn more about a new culture, and take part in trade and commerce.

Globalization will benefit all of us because there will be more opportunities for everyone to participate in global markets. People in different countries have access to resources, information, and products they wouldn’t have otherwise been able to afford. There are also many opportunities for people to work at home.

Globalization is not just an economic boon, but it can also benefit all of us in other ways. As globalization continues, the boundaries between individuals, states, and countries will become less porous. There will be fewer political conflicts in the world, less violence, and a greater sense of cooperation, tolerance, and peace. These are all positive impacts of globalization.

However, globalization has also created some negative effects as well. It has caused people from one country to move to another to take advantage of globalization. This is also leading to some negative consequences such as a reduction of jobs in some countries. The effects of globalization also include increased competition and unemployment in many countries. Due to this decrease in jobs, wages are dropping.

The only way we can stop globalization is to make sure that we know what it is and what its benefits are. We must understand globalization and its impact on our lives and make sure we are ready to accept the changes that it may bring. if it is inevitable in the future.

The key is to be educated about globalization. There are plenty of books, websites, and television shows that explain how globalization is impacting us and the rest of the world. Globalization is not always bad, but we must be careful not to lose sight of its positives.

In the end, globalization is here to stay, so we must learn to live with it and embrace its benefits. We cannot fight it and try to fight it off, but we must learn to deal with it. And we can do that by educating ourselves. Globalization is here to stay for the long term but we must learn to adapt to it and learn how to live with it.

Globalization can be beneficial for all of us, but it has also caused many problems in the past. There were many cases of unfair trade practices and there was the rise of unfair labor practices. Some people argue that globalization has also reduced the pay of most Americans. So while globalization is definitely not all bad, we should understand that the benefits of globalization are not unlimited. and that we must be willing to give it some limitations and accept some sacrifices.

The biggest benefit of globalization is the ability for all of us to communicate with each other easily. The ability to connect with other people across borders makes it possible to share ideas, information, and knowledge. Since we can communicate with each other, the chances of getting a good price for our goods or services goes up dramatically. and it also allows us to save money by buying in bulk. This also translates to more savings on our end.

As mentioned earlier, globalization has brought about a change in the way people work and live because people are no longer tied down by jobs. They now have the freedom to travel and do what they enjoy.

As globalization continues, there will always be some people who are unhappy with globalization and are afraid to open their eyes to new opportunities that are available to them. But that is okay; this is part of the process of globalization.

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What Is Microsoft Teams

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What Is Microsoft Teams 3

Microsoft Teams is an application and web-based collaboration tool that combines chat, videos, online collaboration, document storage, and collaboration with other applications. The service integrates well with the Microsoft Office 365 business solution and features numerous extensions that can integrate well with other non-Microsoft products, like SharePoint. There are many different versions of Microsoft Teams but here are some of the basic functions that all versions offer.

Teams also offers a variety of options for people to create and customize their own groups. This feature provides a way for people to organize their teams within Microsoft Teams. For example, there may be teams for business projects and then another group for personal tasks or social tasks. There are also different types of teams which include teams for social, personal and business.

Microsoft Teams allows users to make lists of files and documents and view them from different perspectives such as in the document viewer or from another Microsoft Teams project. This feature is called “project pane”, and it shows a summary of each of the files in the project. There are also sections for all files in the project that you can see in the “Files” pane.

Microsoft Teams gives users the ability to share information and collaborate on these shared items. A user can create a document that has other people add comments or attach files and then save the document to a list so that other people can view the document in a Microsoft Teams document viewer.

Another feature of Teams is the ability for you to invite other team members to work with you. A user can join a team and then invite other team members to collaborate with the team members who join the team. You can also invite team members to join a new team. When a team member joins a new team, they will be automatically added to your existing teams and the teams will merge together.

Microsoft Teams provides a number of different ways for you to collaborate with others and see the files and documents of others. These include groups and threads in the main document viewer. You can search your files using the search box in the document viewer and you can share your documents with others by email.

Microsoft Teams provides users with a variety of different tools to help you organize and manage your teams. You can assign members to specific teams, assign permissions to members, create custom groups, organize tasks and events, and organize files and documents into groups.

Microsoft Teams can help you build a team and create a collaboration culture that you want to create at your organization. You can use this tool to build effective teams and increase productivity and improve your relationships within the organization. Microsoft Teams offers a variety of options to help you get started and become more productive quickly and easily.

Teams are created easily. If you have several departments within your organization and need to create a team for each department you can do this easily. Teams are made easy and you can get your teams up and running quickly.

One of the best features of Microsoft Teams is the ability to invite people from around the world and let them work with the same documents and projects. You can have the documents and projects organized and shared in the same way throughout the entire organization, regardless of what country they were created in. You can create a similar project in the same language that they were created in and share it with other employees in the organization.

One of the most amazing features of Microsoft Teams is the ability to have multiple team members edit and view the documents and files in the same way. With Microsoft Teams you can have a document and have people edit the same document at the same time without any problems. The changes that you make can also be seen by other team members and can be modified by them without ever needing to send the document again.

Microsoft Teams is the perfect tool for building a powerful and effective collaboration culture. You can share documents and files in the same way that the rest of the organization can view the information.

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