A household relocation project can be tough and difficult, but things get really complex and stressing when we talk about a commercial move. No matter if we are talking about office relocation or dedicated equipment that must be transported, the sheer volume of work is huge. Moving experts can tell you how complex is a corporate move and how effectively plan it.

Corporate moves are typically a nightmare for the project management team. There are so many factors that must be taken into consideration. Let’s take for example a regular office relocation project. Inventory lists with all equipment must be carefully done. Since we are dealing with multiple computers, monitors, peripherals and other hardware, exact quantity and numbers are essential in order to provide logistic.
The moving company wants to know that in order to send sufficient transport vehicles and sufficient moving supplies, if needed and asked.

Measurements for office furniture are also important. And since we usually deal with numerous office cubicles, it is important to make sure that they fit through all doorways and hallways. In many cases, those cubicles must be disassembled, shipped and then re-assembled. This is another reason why a commercial move is so time-consuming and stressing.

When we talk about dedicated equipment, things get really complicated. In many cases, it is important to work with movers that have some expertise and have worked with similar companies in the past. A factory may want to hire movers that understand and can successful plan massive industrial relocation projects.

That means providing a high number of moving trucks, specialized lifting and moving gears and vehicles, heavy-duty moving supplies and very resilient workers. Such a move involves more stress, more physical efforts, more coordination and more focus than any regular household move.

When you are moving very heavy equipment, which also costs a fortune, any mistake can be fatal or costly. Imagine how expensive a plane’s motor or equipment for nuclear power plants is. Making foolish mistakes with parts that cost millions of dollars is out of the question.

Budget planning is also more difficult for a corporate move. There is a lot more bureaucracy and paperwork involved and usually the moving budget must be approved by top management. Even the costs for moving supplies will be high, not to mention that in many cases, will be needed specially crafted containers. Overall, there will be more stress and more money needed.

 

Business fraud can have a monumental impact on an organization. There are many types of fraud that go by different names, such as financial statement fraud, bribery and corruption and asset misappropriation. It is often the case that fraud instigated by an employee will involve more than one type of fraud. Also, business fraud is not always easy to detect because it does not always show up in a company’s official accounts system. In general, the most typical way to detect this type of fraud is by receiving a tip from an employee, a customer, or an outside vendor.

Here is an overview of the different financial fraud in business:

Asset misappropriation

Asset misappropriation is the type of fraud that involves a member of staff who uses their position to take from their employers. This fraud is often committed by those trusted to manage the interests and assets of a company, which can include board members, employees or directors.

This type of fraud activity can include theft of company formulas, patents, or sensitive data, theft of credit notes or vouchers, inventory theft, theft of money or check forgery.

Any company that suffers from asset misappropriation will experience cash flow issues in some form. Plus, it can also have a negative impact on staff morale and the company’s reputation. It is believed that over 90% of business fraud is related to asset misappropriation which makes it by far the most common issue. On average, the lost from this type of fraud is in the region of $150,000 per case.

Bribery and corruption

Bribery and corruption is the next most common issue related to fraud in a business environment. Even though this type of fraud is less common than asset misappropriation, the average cost of a bribery scheme is significantly higher, and likely to exceed over half a million dollars per case.

The type of schemes involved in this area are quite broad and can include substitution of inferior goods, manipulation of contracts, bribes to influence decision-making, shell company schemes and kickbacks.

Financial statement fraud

Financial statement fraud takes place less frequently, but is almost certainly to be the most experience per case. On average, this type of fraud can lead to a company losing up to $2 million per case. This fraud involves an entity or individual falsifying earnings or income statements in an attempt to make a financial gain for them.

This type of fraud can include manipulating a company’s records in relation to more favorable loan terms, an improvement in year-end bonuses, or influencing the stock price.

 

Closing a deal with another company for the transfer of goods for payment seems like it should be easy. However, when dealing with multiple moving parts in a deal exchange involving two different companies, it can be complex. More specifically, when creating a product that needs to meet a specific specification for resale or company use. That is why a contract is needed. Arrangements can be complicated and involve a lot of work. That is why I’ve comprised some tips on how to make your contracts as airtight as possible.

Airtight Contracts

1. Negotiate
This is where you don’t leave anything out, don’t hold your breath. Make your priorities and concerns known. Don’t move on to a different issue until the current solution is reached.

2. Document negotiations
Keep track of what everyone is saying. This is important when resolving conflict and creating solutions.

3. Be concise & detailed
You should be able to understand the contract with ease. You should cut any unnecessary words or phrases. The obligations of each party should be spelled out in specific language that doesn’t leave any room for mixed interpretation. Having a detailed product requirements and clear Statement of Work (SOW) for the project manager, will help confusion. If not, it will result in the organization not receiving the agreed upon product or services.

4. Include payment details
The objective of a contract is for the buyer to receive expected product while the seller receives payment. In many complex deals with multiple moving parts, the buyer can pay the seller along the way as milestones are completed.

5. Include Language on How to Terminate the Contract
This should be in the contract in the case that one party doesn’t uphold their end of the bargain. It will be easier to deal with these situations before they become real life.

6. Don’t start until it’s signed
There is no need to rush into a project before the contract is signed. This could lead to unnecessary work.

The Contract Team

When creating a contract, it is important to have the right people around you. Finding the correct stakeholders that will produce the product. In a smaller business this might only be the owner and another person, but in a large business, it can involve many different individuals. For example, a large company may have a project manager, engineering manager, manufacturing manager, financial manager or support manager. The objective is to find those managers that will speak honestly about being able to complete your contract specifics. Most importantly the schedule. How long will it take their team to create the product? The worst thing that can happen is not being able to uphold the project’s timeline.

The Product

After the client signs the contract, your project manager takes over. If the contract is clear and concise with the correct information to create a specific product, then the project team should have no problem with knowing precisely what they are supposed to produce. Some problems that will arise in the project process can’t be avoided but, with these tips, it should help avoid most

 

Way long ago in 1998–yes, that long ago–B. Joseph Pine II and James H. Gilmore published a piece in Harvard Business Review (link at the end of this article) that the experience economy had arrived. And, sure, in 20th Century terms, it had. As they explained in their article, the progression began with families buying items, such as Betty Crocker, because there was less kitchen time to prepare the ingredients for a child’s birthday cake. Then parents started going to the bakery store to pick up cakes for their kids and no longer making the cake at home. And, eventually in the late part of the 20th Century, with more work and other demands, families started to outsource the entire birthday to soup-to-nuts groups that did everything, such as Chuck E. Cheese and the Discovery Zone.

And now we’re in the 21st Century, and experience matters even more and companies are beginning to try out different technologies, for instance, virtual reality and augmented reality. Major corporations, such as Facebook and Apple, have made substantial investments into those technologies because the future is coming quickly and I wouldn’t be surprised if in 2018 we see some other global experience, such as Pokémon Go.

Smart marketers understand that creating an experience–with technology–is essential to being able to sell a product or service in today’s world. So, how do you do it?

Customer Experience Continuum

An essential activity to create an excellent customer experience program is not only to have excellent customer service but to go further and understand what your customer experience is from start to finish. From the moment a prospect sends you an email, places a call to your office or messages you in some way, what is the experience your company provides? Understand the entirety of the customer experience from the moment they initially reach out and to what happens after the purchase.

Words Matter for Customer Experience Principles

Once you understand the experience that occurs, and more importantly what you want to make sure your leads experience, you have to ask yourself (and your team) to help you develop principles that will guide the experience from start to finish. In this case, words matter. For example, are you looking for your clients to have “fun” while they partner with you? Are you looking for “excellence in communication”? Whatever the words are that matter to you, develop principles around them and ensure everyone on your team is onboard.

Data In and What Comes Out?

When you’re talking about data, your CRM is everything. You want to make sure your CRM captures everything that is essential to know about your leads and clients. If your team isn’t inputting every touchpoint with your customers, accurately, then you’re not going to be able to anticipate their needs. Part of the customer experience is to know what your prospects and partners are going to want, even before they want it. As an example, in one of my companies, our former partners get reminders at regular intervals about scheduling their next fundraiser with us.

Provide a Sensory Experience

Everyone is used to having many experiences throughout the day. If they’re scrolling social media, your leads and clients are being “marketed” to with live streams, videos or images. Corporations are moving toward providing people virtual experiences and with technology tools. Granted, we’re in the early stages of these types of moments, but it’s already started. If you want to buy a diamond ring, you can see the ring virtually on your hand by supplying a photo. You can also see how furniture will look in your home with apps and a VR headset. Think out of the box and discover creative ways to bring your products and services to market.

Net Promoter Score (NPS)

If you’re not using it already, consider looking into your Net Promoter Score, or NPS. This measuring tool goes beyond simple customer satisfaction. The index calculation, based on the responses of your customers regarding how likely they would be to recommend you to others, helps you understand and predict future revenue growth. The best type of sales you can make are those based on the recommendations of others, particularly if you can predict revenue growth.

Humans haven’t changed since the publication by Pine and Gilmore in the HBR article. The only thing that has changed significantly is how technology has transformed our lives and the world writ large. Humans, however, have always wanted the same thing in a product or service. Consumers want the experience they have with your business to match the expectations they had in their mind when they first inquired about your product or service.