How Does Your Business Become Innovative?

Innovation is a buzzword in today's business world. We all want to be the next great innovator to change an industry or the world. The reality is that innovation is inherently hard to achieve—but it is possible. Here are five tips from Seament to make your business more innovative.

1.  Question your current products – Pretty much the definition of innovation is creating something that goes beyond the norm. The only way to do that is to question the norm—including your company's own norm. If you aren't able to sit down with a critical eye to your own products, you cannot turn any of them into next generation leaders. Look at your best performing products and ask how they can be even better. Look at your underperforming products and ask what about them is holding them back. Could a small change turn them into winners?

2.  Focus heavily on usability – Often, the products hailed as most innovative are not really that much better than their competitors, in concept. They do basically the same things. The difference is that they are easier to use. This could be anything from a more ergonomic garlic press to a database that someone can use without training. As an example, Apple's products really do not offer more functionality than their competitors, but they focus on a slimmed down and minimal user interface that makes them easy for anyone to use. That's why they dominate the market.

3.  Hire innovative staff – You don't need to come up with every idea yourself, and chances are good that you won't. If you focus hiring practices on getting staff who are creative, outside-the-box thinkers, then you will have a lot more ideas surging through your company for improving your products/services or offering innovative new ones. Even just a few very bright minds on staff can make a big difference, especially if they are given creative control where needed.

4.  Give employees freedom and trust – Even the most creative employees cannot innovate if their ideas are stonewalled. In most companies, it's not that creative ideas fall on deaf ears – it's that organizational structure makes it hard to run with anything creative and outside the current plan. To really focus on innovation, you will need to give employees more freedom in their work, make it easier for new ideas or projects to take off with less bureaucracy, and trust that employees will complete their work objectives without overly controlling policies.

5.  Know your industry's problems – A lot of innovation comes of simply noticing a problem that everyone else is having, and giving that problem your full attention.

In Seament's own history, the above tips paid off and transformed the way cement is delivered to ports. How can you change your industry?

3 Potential Reasons Why Your New Business Could Fail

The world of business ownership can be a world of uncertainty.  There is no guarantee that today’s million dollar idea will stick around, or if your new business venture will tank.  If you’ve been thinking about starting a business or company, the one thing holding you back is probably the uncertainty of success.  No business owner from Steve Jobs to Alex F. Bouri knew that their business was going to be successful, but there are a few clues we can use to tell you if your business is destined to fail.  

You don’t have enough money

We know that a successful business needs money to operate; after all there is the old saying that you need to spend money to make money.  It’s very common for new business owners to completely underestimate how much money they need to properly to operate their business. Because of this, business owners can also grossly over estimate how much they’ll be taking in when it comes to revenue and sales.  Therefore, it’s crucial for new businesses owners to have realistic monetary expectations for their business.  Talk to a financial advisor that can help you realistically pinpoint how much money you’ll need to launch your business. 

You went into business ownership with the wrong ideas

Did you want to start this business because you were sick of having to take orders from your own boss?  Did you want to make a lot of money?  All of these are good reasons in theory to start a business, but if you founded your business on these ideas alone you won’t be nearly as successful as you want to be. In order to start a business you’re going to need some professional knowledge of the business world, and be able to handle the physical, mental, and emotional pressures to start a successful business.  If you want to start a business so you won’t have to deal with another boss, think if this is really right for you professionally right now.

You plan things poorly

A few months into your business a personal tragedy happens, and you have to take a few weeks off f work.  Who will be running things while you’re away?  What if your first year isn’t nearly as profitable as you had hoped it would have been?  How do you account for the lack of funds?  Problems are a natural part of life, and you’ll need to plan ahead to stay afloat.  A lot of small businesses fail because owners don’t plan ahead, or don’t plan for emergencies or in case things don’t go exactly as planned. 

How to Help your Business Grow in Any Economy

Seament has become a global leader in its industry. More than that, they have staying power. The company has learned many hard-won lessons over the years, including how to weather a dry spell or a down economy. Here are four ways for businesses to keep growing no matter what the economy is doing:

1.  Set the groundwork during the boom times – In a struggling economy, there's nothing you'll want more than a new client, a new contract or a new lead. Unfortunately, those are the worst times to prospect (not that you shouldn't try). Ideally, you should lay the groundwork long before you have a dry spell, during the boom times. Wise companies know that even when you have record numbers of clients, you should still be putting just as much effort into outreach, advertising, and prospecting. By lining up clients early, you'll be in better shape during slumps and, ideally, slumps will barely be slumps at all.

2.  Say "Yes" – Seament began as a small family business. Every small business knows that there are times when you should just say "yes" to a deal, even if it's less money than you had hoped for. Unfortunately, many larger companies forget this lesson and leave money on the table. Remember, even a project with a smaller profit margin is better than none at all. Today, Seament is still family-owned but is a successful multinational company, thanks in large part to hard work and compromise when times were lean.

3.  Never expand recklessly – One mistake that newer companies make as their business starts to grow is to immediately hire more staff and invest in more facilities or equipment. This isn't always wise. Look at both sides of your balance sheet: Do you have business loans to pay off? How much is in the bank for the future? If you lost clients tomorrow, would you still need all the new staff you're thinking of hiring? Being the most stable mid-sized company is often better than being the most precarious large company. When you're starting to grow, invest carefully at first and consider temporary or contract based workers before hiring new full-time positions. That way, you won't have to turn around and lay off staff at the next downturn.

4.  Always put the customers first – If there's one thing that pays off in any economy, it is customer loyalty. In any and every transaction, think about what is going to make the customer happiest long-term. Sometimes, you might have to throw in an extra service for free, spend more time on a project than you expected, or even rush to make amends over something that wasn't really your company's fault—but by doing right by the customer's expectations, your reputation (and your bank account) will be made of gold.

What are your tips for keeping a company growing?

3 Ways that Seament Gives Back

It's always good to hear of a company that gives back. If it weren't for the community and loyal customers, a company could never succeed. Seament knows this, and as a thank you to their loyal customers and community, they like to give back whenever possible. There is no shortage in ways that Seament gives back, but three of their favorite ways include through scholarships, solving cement shortages, and giving to charities. Allow us to explain.

1.  Seament offers scholarships – Did you know that Seament has previously offered scholarships to aspiring college students? They like to give back to underprivileged kids, especially those in developing countries like Nigeria and Lebanon. These individuals may not have had the opportunity to receive a proper education if it weren't for this financial assistance. Seament believes that everyone should have the right to a proper education. After all, our college students are our future leaders. Seament takes pride in helping to build leaders across the globe.

2.  Seament has helped to solve cement shortages – One of the things that sets Seament apart from other companies is their ability to create unique solutions in the fields of manufacturing and cement production. They always remain educated and informed on various issues and problems related to the world's cement supply and are constantly on the lookout for solutions. Their commitment to combatting cement shortages has helped them to supply more than 60 countries during times of crisis.

 

3.  Seament is a charitable company – Seament is a very charitable and generous company. They are always looking for ways to give back, whether it be through offering solutions to cement shortages, giving monetary donations, or donating their time. Seament has worked to create schools in both Nigeria and Lebanon. They have also donated money to the Red Cross in Lebanon and Albania to help improve their medical care.

When you choose to support Seament and their services, you are helping more than just a cement company. Through their generosity in offering scholarships, creating solutions to global crisis situations, and donating time and money to various organizations, Seament has proven to be a company worth following.  Seament believes that giving back to the community is the least they can do, since it is the community that has driven them to success. Without their love and support, Seament could never exist. In the future, Seament hopes to give back more and offer more incentives and help to those in need.

Crucial Pieces of Advice for Every Family Business Owner

What do Comcast, Wal-Mart, Koch Industries, and Ford all have in common?  Aside from all being billion dollar companies, they’re also all family-owned companies.  When most people think about family-owned businesses, they think about small mom and pop operations that rarely grow beyond their one store.  However, family-owned businesses aren’t just rewarding, they can also be extremely profitable.

Seament is a multi-national cement business, but it’s also owned by the Bouri family.  The Bouris are one of many successful business oriented families, and with enough drive and knowledge you could turn your small family business into something huge.  Running a family-owned business is similar to owning a regular business in some respects, and completely different in others.  Family politics can make things a little more difficult, and that’s why the owners of family businesses need to work hard to grow.  If you want to grow your small family business, make sure that you keep these bits of advice in mind.

Let family members work willingly

You may have a picture in your mind of every family member working happily side by side, but some members of your family most likely don’t share your vision.  Some family business owners make the mistake of pressuring other family members to work for their company, and their decision only results in an unhappy and resentful employee.  Don’t pressure your family members into joining your business, and on the flip side also don’t allow them to pressure you into getting a job.

Leave family problems at home

Did you have a fight with your wife/book keeper before work this morning?  Have you been arguing with your son over his grades?  If you’re having disputes at home, don’t make the mistake of bringing them to work.  If you can maintain a separation of your business matters and your family matters, you’ll be able to run a successful family owned business.  Drawing the line between business and family matters is important but it can be difficult to master.  Let every related employee know that you plan on not bringing up personal problems at work, and that you expect them to do the same.

Remember the legal aspects of owning a business

Contracts, over-time hours, and other legal business problems can seem boring and troublesome, but they’re absolutely needed if you want to keep your assets and family members safe.  Drawing up a written agreement with your family members/employees is important since it can help protect you, your business, and even your employees in case you run into any trouble down the road.  Remember that having your family members sign contracts and make legal agreements about their employment doesn’t mean that there’s a lack of trust between you and your family – it simply means that you’re handling your business in a professional manner.

3 Social Media Tips to Consider for Your Business

When it comes to owning a business, one thing is for sure: it is highly imperative that you look into each and every new trend. One current trend that is undoubtedly popular these days is social media. Practically everywhere you go you will find people who are on their smartphones updating their statuses or browsing through multiple images on Instagram.

Maurice Bouri, son of Alex Bouri, the founder of Seament knows that operating a business is not always easy. However, like most other business owners, Maurice Bouri knows about the many advantages of social media.

If you are a business or you are affiliated with one, you probably are already aware of how beneficial social media can be for your company. If you decide to take on social media initiatives on your own, then make sure to follow some of the most helpful strategies and tips for the industry.  

1. Decide upon a consistent posting strategy.

• When you have come up with a very consistent posting strategy, you will notice that your customers and followers will tune in more to particular days to see if you have updated your social media platforms. This gives your customer and follower base a sense of consistency. 

2. Determine which social media platforms you want to use. 

• What social media platforms do you want to use? Each different platform has a specific method. For example, Twitter is only 140 characters long if you want to create a status, so perhaps having a Facebook account (where you can write more) might come in handy. A LinkedIn account can also assist you if you wish to reach more professional audiences. However, you could always use multiple social media platforms; just make sure that you have the extra time.

3. Start contests, create special offers, and consider sweepstakes.

• Nothing will inspire an audience like getting the chance to enter a contest to win $500. If you could win $500, then wouldn’t you enter the contest? If you have something promotional to offer your customers, such as a gift card to your retail store, you can expect your customers to respond. 

These are only three social media tips to consider if you own a business or are associated with one. These tips should help you out quite a bit in producing excellent social media. 

3 Essential Tips for Dealing with Bad Employees

If you're in charge of a business, there are a few unpleasant and unavoidable things that are bound to happen. You're going to have to deal with your first big failure, you'll have to deal with the stress of running and managing a business, and, if you're lucky, you'll have to deal with the pressures of success. One of the most demanding things the average business owner will have to deal with is their own employees. 

Ideally, everybody you hire will be able to show up and do their jobs without a huge problem, but it's rare for things to go that well. Seament and other successful businesses didn't get to where they are today by hiring people who take frequent "sick" days, show up late, and resent doing their own jobs. Dealing with tough employees can be difficult, but it doesn't have to be impossible. When you're reigning in your first unpleasant employee, remember to keep these things in mind.

Don't wait for things to improve

When it comes to dealing with difficult employees, this is the biggest mistake someone can make. Nobody likes to confront people, and that includes managers. The longer you wait to confront the problem, however, the worse their behavior will be. Their bad attitude will also affect your other employees. When they notice that someone isn't doing their job, and that they also aren't seeing any consequences for it, they may start to resent that employee and your inaction.

Give concrete examples

You know how we mentioned that people don't like confronting others? The people that are usually at the other end of confrontation don't like it either. Some employees will be quick to dismiss any vague statements you make about their behavior, so make sure that you give them actual examples of how they are performing. Instead of saying that you don't like the way they talk to customers, mention that you noticed that they were very rude with a customer a few days ago. Addressing the exact behavior you don't like will let them know what they're doing wrong, and should make it simple to improve. While we're on the topic of improvement, we should mention…

Make sure they change

This may seem obvious, but many bosses make the mistake of confronting their employees with their bad behavior, and then not doing much to make sure that they change it. Sometimes, just giving them a verbal warning or talking things out isn't enough, and you have to go the extra mile to see that they improve. See if any kind of training would be beneficial, or if a schedule or shift change could help them perform their job better.