Monthly Archives: February 2016

What Neuroscience Can And Cannot Do For Your Business

download (2)One ‘camp’ says that neuroscience is the next great thing for business and can be applied to everything from marketing to training; and another camp warns that we should be wary of applying it because much of the science is, in fact, pseudoscience.

Business leaders could be forgiven for feeling a little confused. Who’s right?

Let’s take a look at what neuroscience CAN and CANNOT do for your business.

Limitations of neuroscience

Before we look at where neuroscience may be applied meaningfully to business, it’s important to consider the limitations.

Firstly, while the brain and nervous system has been studied for centuries, it’s only in the past decade or so that imaging techniques (functional MRI or fMRI) have become widely enough available to consistently image the brain. This has, in many cases, replaced observational neuroscience, and the use of surveys for gathering information.

It’s worth remembering that the main impetus behind the growth of neuroscience has been to better treat illnesses and to understand the workings of the brain for clinical purposes – not to help motivate staff, improve business strategy, or to sell more products.

The science should be considered to be still in its infancy – and even the most positive of neuroscientists would tell you that we only know a fraction of what there is to know about the workings of the brain.

Neuroscience may be limited by the high costs involved in running studies, as well as the quality of the set up and purpose of the studies themselves. But there is another limitation in the interpretation of the data from the studies.

Few of us are trained in neuroscience, so business leaders are reliant upon those with enough grasp of the science to ‘translate’ it into a business context. Are the conclusions realistic or are they being ‘stretched’? It is easy for information to be manipulated, lost in translation, or simply misinterpreted by the receiving party.

For these reasons, a healthy wariness of neuroscience in a business context is advisable.

So where can neuroscience help?

The temptation for organizations is that, because clinical studies provide hard, objective data to back up the conclusions, these conclusions are new ‘truths’ that can confirm or deny past business approaches, suggest new strategies, and be applied universally.

As already stated, neuroscience is in its infancy, and studies just ten years old are often superseded by new findings.

Neuroscience, however, can be very useful in the hands of entities that understand the science AND appreciate its limitations. They are often is able to draw reasonable conclusions about the nature of human behaviour and may be able to ‘bridge’ the considerable gap between the science and its application in the real world.

For instance, working with leadership to improve teamwork, meetings, and workplace culture all comes down to one key factor: addressing what motivates people’s behaviour. Neuroscience has helped identify some common needs that people require in differing amounts in group situations. Understanding these, and applying methods to ensure that these needs are met, has been shown to produce real, tangible team results: a good example of neuroscience helping in the workplace.

Neuroscience also has plenty to say about the decision-making process. Daily life essentially consists of a long series of decisions, so we can see why this would be of interest. In a business context, leaders can learn to make better decisions if they are more aware of the typical processes that their brains go through before arriving at a decision; and, of course, businesses are always interested in customer buying decisions and how they can influence it.

The best advice is to be careful who you deal with. Check the credentials of the organisations you work with, make sure they are ethical, and ensure they can bridge that gap between the neuroscience and its application.

 

Why Would You Need Hospital Valuation?

download (1)If you run or own a hospital, you have to go through a lot of different things in order to make sure that you can actually get things done and taken care of. Because of that, there are a lot of various things that you are going to take care of on the daily. What are you supposed to do then? Is there really anything that you can try to do or to take care of?

Actually, one of the most important things that you will need to deal with is hospital valuation. What is hospital valuation and why is it something that needs to be taken care of on a regular basis? What do you need to do in order to make sure that your hospital valuation is up instead of down? That’s a good question, let’s take a look.

What is hospital valuation?

One of the biggest questions that people ask is what this is in the first place? What does it even mean? In short, you’re talking about everything that comes along with the value of the hospital. How much is it worth? What does that look like for you? Does it mean that you will be able to continue to thrive in your community, or are you going to have to make changes in order to make sure that you can actually go ahead and achieve the goals that you want to achieve for your community and your employees? That’s what will get looked at.

What is Included?

The facility’s condition. How does the facility look? Is it in the best condition that it can be in? Does it look like somewhere that can be trusted? And is it something that is actually going to help the community instead of making it harder for people to go ahead and get the health care that they need?

Market share. How much of the market share are you going to have access to? Do you have a lot of income from the market or is the income coming from elsewhere? If you’re a privately traded company, are you trading well and does it look like you will continue to do so as time goes on? These are the sorts of questions that you need to answer and that you are going to work toward when you see it.

Income. How much are you making and where is that money coming from? Is it consistent? Are you staying afloat or are you starting to see that it’s going to be a little bit of a struggle when it comes time for you to actually go ahead and get what you need in the world of income?

Contracting. Do you contract out at all? How do you do it? How do you pay them?

How Can You Get it Checked?

There are a lot of ways that you can go ahead and get it checked, but you want to go through an agency that is actually going to give you the resources that you need in order to feel confident about everything that you’re doing. Not only that, but you also want to make sure that they know about the industry and will do all that they can so that you don’t have to worry about any other issues that may come up. They can talk to you about what is wrong and how you want to move forward with the whole idea.

No matter what you may be trying to take care of or figure out, it’s a good idea for you to go ahead and call an appraiser that can help you with your needs and how you plan on dealing with it. That being said, if you need to learn more about an appraiser and how they can help you to achieve your goals, you want to give us a call. We can help you to get one that works for your needs and that will allow you to know more about your hospital and how it is working to help the community and make it thrive as needed. Contact us today to get started and to see what you can do when it comes time for you to go ahead and get things done.

 

Secrets of Bonding: “The Call”

imagesA couple of times every week we talk to a new contractor who wants to get their bond account set up for the first time. Here’s how it always goes:

  • Contractor: We want to go after bonded projects but we’ve never had bonds before. What’s involved?
  • Bond Expert: OK Hi! Who am I speaking to?
  • Contractor: Uh, I’m Humphrey.
  • Bond Expert: All right Humphrey, can we start by asking you a few questions? What is the size and nature of the work you intend to pursue?

Scenario #1 (Pursuing contracts up to $350,000)

  • Contractor: We have performed residential and light commercial work. We want to go after general construction contracts up to about $250,000.
  • Bond Expert: Great! Tell me the ownership and structure of your company.
  • Contractor: The company is an LLC owned by me and my partner Bogart.
  • Bond Expert: Are you both married?
  • Contractor: Yes, but not to each other.
  • Bond Expert: We have a very easy program that may be a perfect starting point for you. To be eligible, the owners and spouses must have good personal credit reports. Are the reports favorable?
  • Contractor: Yes.
  • Bond Expert: There are some other criteria. For example, the program cannot be used for long-term contracts or difficult / unique construction. Needs to be plain vanilla. The good thing is that no financial statements or other documentation is needed, only a simple one page app. If this program fits your needs, you’ll never find anything easier or faster!
  • Bond Expert: Give me your email address and we’ll send you the one page app. We can probably get you pre-qualified within 24 hours!

Scenario #2 (Pursuing contracts in excess of $350,000, or for applicants with low credit scores)

  • Bond Expert: We have an excellent group of bonding companies, and even offer exclusive capacity not available from other sources. We find that most contractors are able to qualify for bonding if their account is developed properly. That’s where our expertise (since 1972!) comes into play.
  • Contractor: What info will be needed?
  • Bond Expert: Getting approved for bonding is like applying for a bank loan. The same kind of financial and background info is needed. Your relationship with the surety is similar to banking and you promise to protect the surety from loss, just like signing a promissory note with a lender. That’s why surety bonds are not insurance policies.
  • Contractor: OK what’s the next step and how much does it cost?
  • Bond Expert: We don’t charge for setting up your account! We’ll send you an email with a list of items that are needed initially. Gather as much as you can and send over so we can get started. The process normally takes a week or two.

Conclusion

Have we oversimplified the process? Actually, no. It is easier than people assume to get their bond account arranged – when you know the ropes. That’s our niche. We don’t pretend to be good at everything, but we are experts at this!

Steve Golia is an experienced provider of bid and performance bonds for contractors. For more than 30 years he has specialized in solving bond problems for contractors, and helping them when others failed.

 

Benefits Of Company Formation In RAK

downloadEver since its independence in 1971, the United Arab Emirates has been driven almost single-mindedly towards a path of accelerated growth and development. Since its inception, the economy has grown over 230 times. But where the UAE truly stands out among its partners in the GCC is through policies of wide-ranging diversification that have been injected into the economy over these decades.

Diversification – the Beginning

What was once an economy dependent entirely on oil; it is now rising boldly to whole-heartedly embrace globalization and entrepreneurship. UAE has opened its doors for businesses from all over the world looking to operate inside and outside the country. RAK or Ras al-Khaimah, with its easy registration and licensing procedures and facilities, has emerged as one of the best locations to set up offices in the UAE.

Ras Al Khaimah Free Trade Zone

Ras Al Khaimah Free Trade Zone, one of the most flourishing free trade zones in the UAE, has been elected the Best Emerging Free Zone three years in a row. Just 45 minutes from Dubai International Airport, RAK FTZ offers state-of-the-art facilities like expansive warehouses, office spaces, accommodation facilities and flexi-desks at low start-up costs. The incorporation procedures are efficiently streamlined, cutting through unnecessary red tape and bureaucratic barriers. Today, RAK FTZ is home to more than 7,500 companies.

Offshore Company Formation

Another rare and remarkable facility that Ras al-Khaimah offers investors is the opportunity for offshore company incorporation. Prudent investors can set up offshore companies in RAK to work as flexible financial instruments that can be employed for tax planning and handling trusts and global transactions.

RAK – Strengths

RAK permits 100% foreign ownership of such companies, in a tax-free environment, with total repatriation of capital and profits. The region has a well-established communication and banking infrastructure and access to a large pool of highly-qualified and trained professionals. An RAK offshore company can be incorporated and maintained with a very low expenditure. RAK offers absolute privacy, confidentiality and protection of assets and information. English is a primary language in the region and is the medium of communication and business transactions. RAK also maintains a comprehensive Double Taxation Treaty with over 40 countries around the globe.

With this remarkable number of benefits, it is not hard to see why RAK is one of the best places to set up a business in the UAE. Building on the foundation of a fast growing and diversifying economy, RAK’s welcoming policies towards global investors and new businesses will shape the growth of the UAE in the new millennium.