Yearly Archives - 2022

Digital transformation strategy in technology is everything in 2022. The Fourth Industrial Revolution is in full swing, turning every industry in Dallas, TX, and elsewhere inside out, from real estate to trade. The COVID-19 pandemic has only sped up this change: 70 percent of organizations worldwide have a digital transformation strategy, reports Zippia.

Your small or mid-sized business (SMB) must follow suit – not only is it in keeping with the times, but it’s also the only way to keep up with modern-day market conditions and customer expectations.

Here, Multi Business Solutions offers powerful digital upgrades you could make to your SMB to help it grow:

Create a mobile app for 3D walkthroughs, listings, and branding

Depending on your business niche and type, you can offer your products or services directly through mobile apps. Real estate companies in Dallas, TX, for instance, can use 3D imaging and Augmented Reality (AR) to take customers on virtual tours of local listings online. It’s convenient for customers to do business with you through their phones, and it’s easier to personalize every customer’s journey this way. You can release targeted customer loyalty and engagement campaigns through your app.

Integrate project and time-management tools into your processes for more productivity

Project-management tools are designed to make it easier for you to manage disparate teams and processes. They give you an overview of what’s happening, what needs to happen, and who is working on what. Time-management tools, on the other hand, allow you to document your time-spending better. When you leverage both effectively, you can expect more productivity and less waste.

Use cloud-based document signers and editors for faster turnaround times

Typically, businesses deal with countless paper-based documents on a day-to-day basis, from forms to receipts and everything in between. Many of these documents need to be stored, signed, and shared with internal and external stakeholders. You can use cloud-based document editing, signing, and collaboration solutions to digitize documents and then share them with multiple people. It’s more convenient, legally binding, and can cut down turnaround times by days or weeks.

Use electronic email invoicing to get paid on time

A common pain point for Dallas-based businesses is that they don’t get paid on time, which can lead to cash flow problems and, possibly, blocked operations. Email invoicing solutions can speed up the payment process and, with automated reminders, encourage customers or clients to pay on time. The best online invoice template makers allow you to choose pre-made templates and add text, photos, your logo, and more. You get notified when clients receive invoices. Also, they let you save invoices in your preferred format.

Utilize a CRM solution for smoother customer relationships

Customer relationship management (CRM) solutions simplify customer-side interactions. They offer a host of useful features: customer data collection, automated messaging, data visualization, enhanced collaboration, and more, says Nutshell.  A CRM solution makes life easier for customer-facing teams. Notes never get lost, valuable information is always easy to find, and teams can “remember” customers better.

Facilitate digital transformation with business process management (BPM)

Digital transformation technologies are many and could potentially all add value to your business. Some examples are big data analysis, cloud-based technology, the Internet of Things (IoT), artificial intelligence, and machine learning. You can apply these technologies to several areas of your business – like product development, logistics, and sales. AT&T, the biggest company in Dallas, TX, is using data and AI to good effect.

You’ll have an easier time identifying areas to improve through BPM – as well as making your improvements work better. BPM automates and optimizes your workflows to facilitate digital transformation. It works by streamlining and improving labor-intensive business operations. Incidentally, it also secures employee buy-in (by reducing their workload). When creating a BPM framework, you need to monitor its effectiveness and then act on the info to improve the process and output. 

Conclusion

Every digital transformation strategy upgrade you make – be it a business process management (BPM) framework or an electronic invoicing solution – will have a cost. You should calculate the return on investment (ROI) carefully before you proceed. Not every technological solution is an upgrade. Look for maintainability, convenience, results, and, most importantly, long-term viability.

Skilled professionals complement powerful technology. Work with Multi Business Solutions experts to take your business to the next level in International Business Trade, Real Estate Investment, or Commercial Construction.

House Flipping Business for Seniors

House flipping business for seniors has become very popular over the last few years, and many seniors have been looking into how they can get involved. Fortunately, most of them have found that there are great opportunities out there, even if you're starting late in life. Here are some things you need to consider before getting started.

Buying the Ideal Property

When you’re just starting out, it’s important to start small. An inexpensive property or one that hasn't been renovated is ideal because it allows you to learn on a low-risk venture before graduating to more expensive properties.

Getting a Mortgage for Your Property

When you’re purchasing an investment home to renovate and flip, you might have to get a mortgage to finance your purchase. The best financing option will depend on your financial situation. Contact multiple lenders to shop around for the best rates and fees. You can also reduce the interest rate by making a larger down payment. There are several types of property investment loans including:

• Conventional financing
• Hard money loans
• Federal Housing Authority mortgages
• VA mortgages
• Home equity lines of credit
• Fix-and-flip loans
• Private money loans

Return on Investment

If you’re buying a fixer-upper, do your research to see what types of renovations will increase its resale value. Some projects like adding more bathrooms—are safer bets than others, like adding a master suite. There are online tools that can help you predict home values in different areas. You can also talk to local contractors about how much your project might cost and how it will affect overall value.

A common investment when flipping a house is renovating the kitchen. This can include updating the cabinets and hardware, the sink, backsplashes, appliances, the range hood, and countertops. Not every renovation will include all of these updates, but they are things to keep in mind.

If you're planning to flip houses for a living, be sure to choose properties with good resale value in neighborhoods that are already growing in popularity. Asking around for referrals can help you find reliable contractors—and potential customers. Before buying a house to flip, sit down and figure out what it will take to make your home stand out from other similar homes that may be on sale in your area.

Selling Your Property After Renovations

The best way to sell your fixer-upper property after renovations is through a real estate agent. An agent can help you sell quickly by using their professional network to find prospective buyers, saving you time and hassle. To help, you can use an infographic template to design graphics to educate prospective buyers about the property and its improvements. It’s always best to work with an agent when selling your home because they are knowledgeable about all aspects of selling a house. An agent will also ensure that your interests are protected during negotiations.

Be Cautious When Buying a Fixer-Upper to Flip

Make sure you do some thorough research before closing on your purchase. Buying a fixer-upper can be financially risky. While you might want to save money by buying an inexpensive house that needs repairs, you could wind up losing money instead. Ideally, you should add 20 percent to your overall estimate, especially if there is major work involving electrical wiring, HVAC, foundations, or the need to remove mold or asbestos.

A Successful Project

Contractors are expensive, but they’re necessary—and finding one that works within your budget and gives you confidence in their ability is key for a successful project. Turn to Multi Business Solutions for more information about real estate investment strategies.

If you’re an employer looking to attract the best talent, you have to offer a compensation package that’s better than the competition. But, this doesn’t always mean a higher salary. Sometimes, employees want more than just a paycheck. MBS Multi Business Solution invites you to take a look at a few traditional and innovative perks that will help you land and retain the best candidates.

Direct Deposit

Obviously, you have to pay your employees. But if you’re still writing paper checks each Friday, you are doing yourself and your employees a disservice. Instead, plan for paycheck direct deposit. Forget the pen — all you have to do is enter hours and schedule what day everyone gets paid. Their bank accounts see a deposit on that day, and you won’t have to worry about making last-minute adjustments or rewriting checks that got washed in the laundry. As an added benefit to you, you are fully in control of when everyone gets paid, which is great for workers who are paid on commission per sale.

Education

Encourage your employees to go back to school by offering to reimburse their tuition fees. Not only will this help your employees improve their skills, but it will also show that you are invested in their success. There are many affordable online universities that offer courses and programs on a wide variety of subjects. Who knows? Your employee’s master’s degree could help your business in ways you never thought possible.

Career Coaching

Individuals can always seek career support on their own. However, you will show your employees how much you care by helping them discover their greatest talents and desires. Career coaching will help them understand what they’re best at and how they can use skills to benefit themselves and, hopefully, your company.

Health and Nutrition

Health and nutrition are big business, and helping your employees stay healthy is good for your business. Give your employees benefits, such as free gym memberships and online nutrition counseling, so that they can learn how to make better decisions for their health.

Game Tickets

Chances are, many of your employees are workaholics like yourself. Give them the push they need to get out, let loose, and relax with their families by offering free tickets to local sports games, art exhibits, or concerts.

Catered Lunches

Everybody loves a free lunch, and your employees are no exception. Whether you bring in a food truck each Friday or cater a black-tie-worthy lunch once a month, feeding people is one way to show that you care. Keep in mind that no two caterers are alike and you want to put some thoughts to the hiring process. Social Tables suggests asking about food preparation methods and confirming how many staff they will have on-site, no matter what style of dining option (buffet, sit down, etc.) you choose.

Mental Health Services

Mental health services are a great option for employees in high-stress careers, which can be anything from food prep to the C-suite. Let your employees know you care about their emotional and mental well-being by offering time off for counseling appointments or prepaid online therapy services.

Schedule Flexibility

Offering a flexible schedule gives your employees more opportunities to balance their personal and professional lives. HR solutions company Insperity asserts that having a flexible schedule may even reduce employee turnover. If possible, you can also offer your employees the opportunity to work from home when they need to to handle issues, such as sick children or unexpected travel.

Pet Health Insurance

If you’re looking for one of the top five unconventional job benefits that help you keep the best workers, pet insurance makes the list. It’s no wonder that one-third of all Fortune 500 companies offer pet insurance as a benefit for their employees. 

In today’s competitive job market, talent is hard to find and harder to keep. And because you can’t always afford a premium salary, you may have to find other ways to keep your staff happy. Flexible schedules, quick payments, and free meals are just a few ideas to help you retain the employees that your competition is trying to steal. Plus, happy employees are better for business. It’s a win/win for everyone. 

MBS Multi Business Solution specializes in international business and trade, real estate investments, and commercial construction. You can learn more about the services we provide by calling 214-666-6029 or emailing info@multibs.com.