What Are They Saying About You

So it finally happened and you are now facing a crisis that is currently affecting your brand and the reputation that you have spent your time and effort building. Fortunately, you would not be the first person on earth being subjected to this nor is it an incurable and unsolvable speed bump. A lot of companies right now that are still flourishing have been subjected to events which have negatively affected their reputation and the fact many of them are still up and running today is a testament that they overcame whatever it is they were subjected to in the past.

Regardless, repairing your reputation should have been a part of your reputation management strategy in the beginning. Extensive stakeholder research would help you facilitate and customise your strategy to better suit some of your most vital consumers and stakeholders.

Damage analysis

Once the damage is done, every second that comes after it is crucial to you. The longer you wait, the heavier the damage may be because you are losing consumer confidence not only due to the damage but because of your inability to address the situation or solve the problem. However before you take any action, you will want to extensively access the damage. Understand its source, how it progressed, and what parts of your business are affected. After all, you cannot admit to your mistake without knowing what it is thoroughly. So assess the damage and use that information to base your next plan of attack on. This will eventually help you enhance your reputation management planning for future uses.

Do not get too emotional

Some companies tend to humanise their company in an attempt to get more sympathy points. While this may work for a small number of companies and in certain situations, it is necessary for you to separate facts from feelings. When you give out facts, there is no room for misinterpretation as opposed to feelings wherein some people may get turned off by the unprofessionalism, it's not always the public who need to be pleased but often you need to be mindful of your stakeholders. This is why many companies do extensive research into their stakeholders and even employ stakeholder engagement consultants to better understand the prospects, values and services of their stakeholders so the company can keep them happy, for more information visit this web page.

(Social) Media Warrior

Fortunately, at this day and age, we have social media to employ to effectively disseminate information. This is very helpful especially if you have explanations or solutions to be enforced and you want the public to know of your immediate action. Strategise on how to use all forms of media to reinforce your reputation management plans to the public and let them know that things are being done to address and avoid the recurrence of the crisis.

Be realistic

When you want to work your way again to your client’s trust, you may get this tendency to promise them the whole world. But again, you would be setting yourself up to further damage if you fail to reach expectations and goals that you have set on your own. This is where having a reputation management team such as this one come up with a reputation strategy can help you avoid mistakes during a time of crisis and manage your reputation. This is done by making sure that expectations and future goals between you and the public is attainable.

Honesty

Being honest about the situation will be highly respected by the public. Let them know if you realised that there was something lacking, to begin with, or that the mistake was due to an oversight. Be transparent on what measures you are doing to address the damage such as employing further trainings or creating new departments that are specifically tasked on that certain issue. Honesty may hurt a bit to employ in the beginning, but the public appreciates an honest company enough to eventually give it another chance.

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Why Bookkeeping Is Important For Business

The end of financial year is dreaded for a lot of individuals and businesses alike. There is a lot of consolidation and reconciliation of everything that happened in the last 365 days and if you are not a highly organised person or even if you are just a very busy individual who has no time to consolidate it all, it can easily become a nightmare. This is when bookkeeping comes in handy. It is basically the recording of financial transactions which may include sales, payments, expenses, and purchases. It includes all cash transactions; accounts receivables which is money already due from your customers; inventory count/cost which is the actual product you sell; accounts payable or money that is owed to you; loans; sales/invoices which is the revenue earned from the sale of inventory; purchases or the cost of materials or goods that you buy for the business; and payroll which is the amount you pay your staff. These may already seem a lot but this is not the extent of it. So you can see how tricky it may get especially if your business is growing or your financial transactions are multiplying.

It may be tedious but bookkeeping should not be set aside. It is a highly crucial part of the accounting process because preparation of source documents is needed for the accountant to know how much you need to pay for taxes and how much you are eligible to claim for tax returns. If your balance sheet and cash flow tables are up to date via bookkeeping, if you ever hire an accountant to do your taxes, he or she can allocate more time into assessing your tax situation rather than correcting your financial statements.

Bookkeeping also helps you keep track of invoices and payments. It may seem menial to record every single thing at first but once business picks up or your financial transactions multiply, it is easy to lose track and fumble with all the documents especially on those invoices that need follow-ups or those that you need to pay soon. Thus, bookkeeping helps systematise everything according to date so you know which ones need immediate action. There are lots of modern techniques and programs such as Ostendo that can help you perform your bookkeeping duties. If you are unsure about what Ostendo is or how to use it to the full potential, then take a look here to learn about the capabilities and advice regarding Ostendo.

If you have your own business as well, bookkeeping will work on your favour when it comes to your business planning. Having your balance sheet updated will let you know if you are staying afloat and point out which parts of your business is performing well. It would also be easy to pinpoint parts that you may have to reduce or cutback in the business operations. In addition, if you have intentions of bringing in more investors – having your books ready and updated will give the impression that you have your process together to your potential investors. And if you already do have investors, bookkeeping will help you efficiently report the company’s financial status. If you are in need of external bookkeeping services or support then you can always contact specialised book keepers such as the ones found here. A bookkeeping company such as Two Peas will provide you with all the bookkeeping advice and solutions you need to grow your business.

Bookkeeping is indeed important. If you are the type of person who wants to handle your books yourself then fortunately for you there is already a lot of amazing software available in the market that digitises the process for you. They have even altered the interface of their software to make it user-friendly even for people who have no background in accounting. You simply input everything you do in your business or in your personal life and the software will record it for you for easy access whenever you need it.

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