The ability to negotiate effectively is a key element in establishing successful and mutually-beneficial business deals. Without strong and strategic negotiation skills, whether it’s with potential business partners, vendors, customers, or even employees, you’re likely to come out of a meeting with a deal that only satisfies a fraction of what you wanted. While not everything in business can be done completely on your terms alone, insufficiencies can have rippling effects on your goals for business.
Internal business goals are dynamic. Strategy, time, data, and labor are poured into establishing achievable goals for an organization, whether it’s company-wide, departmental, or individual. Sometimes even with all the data on their side, companies don’t reach their goal within the projected timeframe. When this happens, it can be disappointing for everyone involved, but it should not be less motivating. In fact, missed goals are an opportunity for teams to leverage retrospective failures, shaping new goals and outlook.
According to Pew Research, approximately 10,000 baby boomers will retire from the workforce by 2030. This means there will be thousands of projected vacancies to prepare for within the decade, however research finds that only 35% of organizations have formal succession plans in place.
A barrier to entry is an obstacle a business must incur to enter a marketplace. Barriers to entry can vary from one industry to the next. The property management industry boasts an overall low barrier to entry which enables higher market saturation. Because of relatively easy entrance into the industry, there are over 280,000 property management companies operating in the US and more than 31,000 are active in Canada, meaning the number of industry competitors in North America exceeds 300,000.
When you’re ready to kick off a vendor-guided software implementation, one important question to ask is ‘who should be involved’. For every property management company and every software application the answer could vary. But for an ERP there are some key choices for an implementation team that can facilitate the experience and ensure ongoing success throughout the lifetime of the relationship.
According to research conducted by Gartner, 75% of all software implementations fail. A new software ERP that fails to go live means that the time and money invested into selecting a system was wasted and the process needs to begin again. It also leaves teams who were excited for the additional support in their roles disappointed.
Positive reinforcement is one of 4 kinds of operant conditioning, also known as instrumental conditioning – a form of behavioral psychology popularized by B.F. Skinner. In theory, operant conditioning is essentially a method of strategic reward and punishment to shape future behavior. The term “conditioning” itself can be alienating to many people, but in practice positive reinforcement is a system of validation that’s meaningful to people on the receiving end.
Email is ubiquitous, it’s heavily relied on by businesses for internal communication, external communication, and marketing. There are expected to be 4 billion email users worldwide by the end of 2020 and that number is projected to climb to 4.3 billion by 2023. Adopting the right email practices can improve connectivity between teams, collaboration, and productivity while helping to foster positive work relationships.
A positive work environment or workplace culture is a key factor in team performance, customer reception, and overall organizational success. People in management roles directly influence employee morale and job satisfaction, so it’s important that managers can, not only understand the job in terms of customers or functionality but step up and be leaders. As it turns out, most managers are promoted because of their skillset pertaining to the job, studies found that 58% of managers had zero training in managing people before taking on a leadership position.
When hiring a new employee, a manager’s first consideration when handed a CV or resumé is to look at previous job experience to determine whether the candidate has the skillset or background knowledge to preform as expected. What’s sometimes overlooked is a candidate’s soft skills, but when ignored it’s quite possible that the opportunity to bring onboard a valuable member to the team is missed. Placing weight on soft skills can help your organization cultivate a team that is cooperative and productive.