With the threat of the COVID-19 pandemic having faded in recent months, you could, as a business owner, once again feel comfortable with the idea of meeting potential clients up close and handing them a physical card as a reminder of your company and how to contact it.
However, one statistic shared by Real Wealth Business suggests that about 90% of all business cards distributed are thrown away within a week. So, the onus is on you doing what you can to make sure your card not only catches the eye but also keeps it for as long as possible.
Go for a colored business card
You might not have realized that a colored business card lasts ten times longer than a standard white business card before being discarded.
Hence, it’s worth taking the time to be creative with your card’s design — especially as, according to another statistic, sales grow by 2.5% for every 2,000 business cards given out.
Remember to include the relevant contact details
While opting for a minimalist look with your card might make it stand out in a sense, you should be wary of stripping away too many elements. Designer and illustrator Sam Hampton-Smith advises in an article for Creative Bloq: “You’ll typically want to include at least a business name, phone number and email address.”
He adds that, depending on exactly what communication channels your business has, you should probably also include a website address, a physical address and social media handles.
Make your business card ‘dual-purpose’
Depending on the industry in which you operate, it could be both wise and clever for you to design your card in such a way that it can also serve as something other than a business card.
Whatever that second purpose is, verify that it is genuinely relevant to your company and its target audience. A card for a drinks seller, for example, could also constitute a bottle opener, while an eco-conscious company could make its business card a packet of seeds.
Image source PxHere
Give your card a custom finish
That way, the person you give the card to could quite literally feel the difference as soon as the item touches their hand. You only get one chance to make a good first impression, as the saying goes…
The various custom finishes from which you could choose include foil blocking, metallic and spot-UV finishes. While adding custom finishes to cards can inflate the cost of creating them, you could allow for long-term savings by buying your own print finishing equipment.
Thoroughly spell-check a card before printing it out
Imagine how your heart could sink if you printed out thousands of cards only to realize a silly spelling error sticking out like a sore thumb on each of them.
Hence, before printing business cards in any design, you should repeatedly go through its text with a fine-tooth comb and potentially also ask someone else to check that copy for you, lest you end up having to reprint the entire batch of cards.
You would expect certain businesses to thrive during a pandemic lockdown. Things like Dropbox and Zoom are more useful and more used than ever. Food delivery services are thriving as well.
It is somewhat unexpected that the plastic surgery industry would experience a mini-boom, but plastic surgeons are reporting an increase of about 60% in business.
There were over 18.1 million cosmetic procedures performed in 2019, with 1.8 million cosmetic surgical procedures and 16.3 million cosmetic minimally-invasive procedures. Neither of these numbers was a significant increase from 2018’s stats. However, we’re poised to see a notable spike when 2020’s numbers are released.
The Zoom Boom
One of the leading factors in this new wave of plastic surgery is the emergence of daily video calls. Millions of people are logging into Zoom every day. Many spend a lot of that timelooking at their own faces and wondering if they need acheek lift or a hair transplant.
People are also wondering if they need a liposuction procedure, as they start to see double chins emerge on Zoom calls, and they deal with theso-called Quarantine 15.
At the same time, people with longstanding insecurities about some part of their appearance are now being forced to face it from new and unflattering angles during video chats. They’re now armed with enough impetus to get the rhinoplasty procedure they have always wanted.
A Shift in Attitudes
An eye-opening survey byThe American Society of Plastic Surgeons revealed that a startling number of people are now thinking about getting plastic surgery. Roughly 49% of respondents said that they are currently open to getting their first procedure.
This is particularly surprising when you consider that a similar survey in 2014 revealed that only 17% of respondents were open to getting their first procedure, while 49% were firmly against the idea.
An Unexpected Opportunity
The COVID-19 crisis has also created a business landscape where an estimated42% of the entire American workforce is now working from home on a full-time basis.
This actually creates the perfect opportunity for people to discreetly recover from surgery while working from home, without having to use vacation days.
It’s now possible for people to get a procedure on a Friday, take the weekend to recover, and then be back to work at 9 am on Monday without anyone knowing that they had surgery.
Cancelled Plans and Vacations
Almost half of all Americans had to cancel travel plans over the summer of 2020, with countless more also having to cancel winter/ spring vacations and destination weddings.
While most of these people are incredibly disappointed, many have decided to put their travel money towards a plastic surgery they have always wanted. They now have the means and the opportunity to finally treat themselves.
The most common plastic surgery in 2019 was the breast augmentation procedure and it has held the #1 position for several years in a row. However, experts are saying it’s entirely possible that the Zoom boom leads to the boob job being dethroned from the top spot by a facial procedure.
When it comes to advanced degrees in the world of business, few are as pertinent as the Master of Business Administration degree, or MBA. It is one that is vastly popular among those who wish to make it big in business and can be extremely helpful in letting future and current employers know what sort of knowledge base and business acumen you possess.
While an MBA isn’t necessarily your guaranteed ticket to corporate success, it can provide you with a great number of skills and relevant knowledge about business. The things that you gain from completing your MBA might be the catalyst you need to find success in your own career.
It is important to bear in mind that as the popularity and demand for MBA programs has increased over the years, so too has the number of universities offering variations of MBA programs. Not all are created equal, so you should take your time and put in the necessary research before enrolling on a program so that you can get the most out of the experience and investment.
If you do make the decision to earn your MBA, here are fourkey skills and business advantages that you will gain from the process:
Image source Flickr
1. Leadership Skills
Most people who enrol in an MBA program do so because they aspire to assume a leadership role in the world of business. Some might wish to start their own business and act as a leader in that regard. Others might hope to one day be considered for a major promotion at an established company that would place them in a position of leadership.
No matter what your specific ambitions are, if they involve the acquisition and development of leadership skills, then an MBA is a good option to consider. Institutions like Aston University provide students with the skills they need to act as reliable leaders in the world of business.
2. Communication Skills
Of all the things that you will need in order to be successful in a career in business, excellent communication skills rank among the top. You will be expected to have the ability to communicate across a variety of platforms and to various people both above and below you in the hierarchy of your place of work.
If you do come to assume a leadership role in your career, it is important that you know how to communicate efficiently and effectively to those reporting to you. You will also need to have the ability to communicate respectfully and professionally with those who rank above you. From writing well to speaking confidently and concisely, you will have the opportunity to sharpen all of your communication skills when you earn your MBA.
3. Connections
When it comes to a career in business, one of the most important resources at your disposal is that of a strong professional network comprised of valuable connections. The connections that exist in the world of business are what drives industry and innovation forward. Therefore, when you receive an opportunity to network and make more connections, you should go for it. An MBA can provide you with just that via the alumni network at your institution.
Most major universities have sizable alumni networks that are specific to their MBA programs. By enrolling and completing a program at such a university, you obtain access to that network. You never know how profitable such connections might turn out to be when utilized properly.
4. Credibility
When you earn your MBA, you receive a certain amount of credibility along with it. This is because the education that you receive from an accredited MBA program is one that equips you with a certain level of knowledge and a particular skillset. Most people in the business world know what that knowledge and skillset entails, therefore establishing a level of expectation for anyone who has an MBA.
It is true that an MBA is no longer as novel as it once was. Programs are far more accessible due to online education options and the sheer number of universities that offer the degree. That being said, when you are able to place those three letters after your name, it immediately conveys to anyone who reads it that you are serious about your career and have what it takes to succeed.
Not only does this grant you a certain degree of credibility with employers, but if you find yourself in a management position, those who report to you will be able to trust in your leadership capabilities.
For many people, entrepreneurship is an alluring career choice – and it’s easy to see why. Running your own business means that you make all the decisions, and you’re your own boss. You can make as little or as much money as you like, you can take vacation days whenever you want, and choose your own working hours in line with your schedule. But, running a business isn’t for the faint-hearted. With competition fiercer than ever, being successful as an entrepreneur means being armed with a large amount of current business knowledge and being prepared to face whatever challenges the journey throws at you. So, you might be considering studying for a business degree before embarking on your new venture, but is it worth it?
If this is your first time running your own business then a business degree can certainly help you get the foundations of business knowledge that you’re going to need to become successful. Whilst anybody can learn enough about running a business to get by without studying at college, it’s certainly recommended if you want superior knowledge and an edge over your competition. You’ll not only study about the basics of business, but also learn more about important aspects such as marketing, business finances, and more, which will help you transition smoothly into entrepreneurship and avoid some common mistakes.
Boost Your Network:
One thing that any successful business owner needs is a strong network around them. A business network could consist of experienced professionals that you can turn to for advice and wisdom, investors who may be able to help your company financially, and other company owners who you can collaborate with to get better results for the both of you. Attending college is a great way to start building your network from the start. You’ll meet other students who may already have a background in business, plus professors and tutors who will be highly experienced, with connections of their own that they can put you in touch with.
It’s Easier:
Let’s not forget how much easier studying for a college degree is today, either. In fact, the fact that getting your degree has become so much more accessible is often enough for many would-be entrepreneurs to take the plunge. A range of on-campus, online, full-time and part-time degree programs from colleges like Everglades University have made it possible for aspiring business owners to get on with learning more about business and get a step further to their dream career without having to give up with job that they are currently working in, which can be very useful if you’re working full-time and considering making a transition into entrepreneurship.
It’s an Investment:
Last but not least, consider your college degree as the first investment that you’ll make in your business. Before all else, your entrepreneurship knowledge and skills will be the backbone of your young company and should be the first thing that you invest in, with a massive return on income potential.
If you’re considering starting your own business, studying it at college first can be a very useful idea.
Document automation software can help you save hours on designing and formatting documents. Find out other reasons to use document automation here.
Did you know that 99.9% of all establishments in the United States are small businesses? That equates to about 30.2 million businesses, with 8 million of them owned by minority groups.
Yes, it’s a competitive world and a majority of businesses don’t survive.
If you want your business to become more competitive, you need document automation software. It doesn’t matter whether it’s thank you letters, quotes, contracts, or other documents. You’ll save time, money, and cut document efforts.
Are you ready to learn the benefits of document automation? Read on and find out more.
Why You Should Use Documentation Automation Software
Aside from its direct benefits, document automation has its own set of indirect advantages that go beyond its function. For some organizations, these can make more impact on their success. Here are some reasons your business should use document automation software:
1. Increase Data Compliance
Your business will see a large improvement in your data compliance as a byproduct of your document process automation. After all, your employees can only access documents using the app.
Your data integrity improves. It happens since you can complete documents based on the data you employees put into the document automation app.
2. Decrease Resources Used to Documents
A lot of organizations dedicate a lot of resources to help audit and manage documents. That meant you had to hire employees and get more software. With document automation, your company can reallocate these resources to other productive projects.
3. Minimize Training Time
The most challenging part of a new job is to learn the business’s internal processes. If you automate document creation, it’s now replicable and easier to internalize. Your new employees can focus better on the work you hired them for.
That means you don’t need to train them on how to make and deliver documents needed in the sales process.
4. Protect Sensitive Data
A lot of documents you distribute can contain sensitive data. Whether it’s internal or external documents, information like these are private:
Pricing
Financial figures
Sales results
Customer consumption data
If you automate your data creation process, it will limit the data exposed on an employee’s desktop. It decreases the chances of information finding its way to the wrong hands.
Both your data and documents will sit together in a single repository. The best part is that you have control over permissions. This will help in limiting the people that can access your documents and sensitive data.
5. Reduce the Number of Documents Managed
With document generators, you’ll have control on the versions and content of the documents. That will limit the number of documents made by your employees. There are companies out there that automated 98% of the data they have in their contract process.
As a result of automation, these companies decreased the number of documents used to make new contracts from more than a thousand to a hundred.
6. Use Consistent Branding
Regardless of whether you’re a small business with 20 employees or a giant corporation, you need consistent branding. It will apply whether it’s your company’s voice or the visuals that accompany it.
If you automate your document creation, you control the document’s content. You also have control over the template. This will ensure that all your employees represent your company with consistent color schemes, logos, and graphics.
7. Make a Repeatable Business Service
Making documents in a manual fashion can often become a tedious task. Once you automate its process, it becomes a repeatable process for your entire business. Your employees increase in productivity since they won’t feel worn out by starting from the ground up every time.
Your employees can also access the same data regardless of their employment duration. They can merge these with your document to generate a document package.
8. Easier Storage and Retrieval
Storing your electronic documents on a centralized location will reduce the necessity of physical filing cabinets. That will save your office a lot of space, making employees feel less claustrophobic. Besides, that will also give you more space to put some amenities to boost employee morale.
Document automation applications store your documents in a secure manner, regardless of the total number of people working within your system. With this, your employees won’t accidentally stumble on documents they aren’t supposed to read. It also eases up their search process when trying to access related documents.
Also, it’s important to remember that hard copy document retrieval can become a time-consuming task. Depending on your company size, it will take anywhere between minutes and days. If you’re in a fast-paced business environment, this is an inefficient way of dealing with documents.
Automating your documents will allow you to get all these documents in one secure system. The retrieval is also instantaneous.
9. Allows Collaboration
Do you have different locations for your company? If so, you know the difficulty of teams working in different areas of the office. It’s even harder when you’re trying to make two different departments collaborate.
But if you automate your document creation, you cut the manual collaboration of documents. You can also drop the need for physical collaboration of these teams if you want. This will improve your efficiency since teams can now talk online and work together.
These electronic documents can have updates in real time. It means any collaborator for the documents won’t need to wait for long before they can start editing the same document. That decreases downtime and improves the overall productivity of your company.
Use Document Automation Software Today!
There are a lot of other benefits when using document automation software in your workplace. But the most important advantage is that you save both money and manpower. This helps you allocate these extra resources to more productive tasks.
If you want to look for more benefits, don’t hesitate to do some more research. But the benefits listed here are great enough as a starting point.
Did you enjoy this guide? If so, read more of our posts and discover more tips today.
In the business world growth is often the name of the game. If growing your business was as simple as wanting it to happen, however, every business would be doing it. The key to taking the company you have today and growing it into the business you want it to be is developing a product or service that people want but also developing the right marketing campaigns to let customers know that your business is out there. If you’re ready for a step up for your business, here are some key practices to implement.
Do Your Research
Sometimes the simplest tasks are also the easiest to overlook. When you’ve been doing the same thing in your marketing for a long time it can be easy to think that you fully understand your clientele and know exactly the type of customer icon you should be gearing your campaigns around. If you have not assessed your data recently, however, that may not be the case. Not only should you be performing regular research into the types of customers who are purchasing your products, but you should also keep an eye on your competition’s marketing. What are they doing that is effective and what are they doing which seems to be failing to draw in viewers. Take what’s working and adjust it to fit your brand and you’ll be on the path to a bigger business.
Utilize Sales Funnels
If sales funnels are not a part of your digital marketing campaigns then you are likely missing out on potential customers with every ad that you run. On a well-executed sales funnel, browsers are directed from your ad onto a landing page which entices them to provide you with value. Whether that means producing a sale of a product immediately, or simply using a promotion in order to get contact information of interested consumers, the funnel guides them from where they were initially browsing online to where you need them to be.
Reward Loyal Customers
When you’re trying to grow your company it may seem like a tangent to discuss ways to reward current customers but you should approach customer retention as a part of your greater marketing strategy. It’s more cost effective to maintain a current customer than it is to find a new one, so keeping the customers you already earned makes it significantly easier to invest enough in marketing to grow into your targets. Loyalty programs are even better as they often can kill two birds with one stone. While systems like loyalty points keep customers coming back and occasionally provide the extra nudge when a customer is deciding between your store and another, referral bonuses get your customers to market for you.
Grow Your Lists
A fully developed set of email lists is a must for any business in the modern marketing landscape. You should maintain multiple lists with everything from currently active members to former customers and those who merely expressed interest in the past. Online funnels are a great way to gather emails from prospective customers by offering a simple deal for those who provide an email address.Once you have a set of lists set up you can target your email campaigns to hit the types of customers most likely to be intrigued by the emails you are sending. Email lists are an excellent way to get your offers and deals in front of a large number of consumers who have already shown they are intrigued by what you’re offering.
Find the Right Partners
When two companies have crossover in their client lists without having competition it’s the perfect opportunity to work together so that both companies benefit. An office with a health policy which helps to cover gym fees can partner up with a local gym for special rates, for example. The gym gets increased business from the employees choosing to use the gym for greatly reduced out of pocket spending while the office benefits from being able to offer a great deal in order to attract top talent.
Embrace Innovated Technologies
There’s no better way to set yourself apart from the competition than being innovative and changing the game. When your company has something that makes it truly unique you should take advantage of that unique hook to draw eyes to your brand, like Mark Crumpacker, Zume Culinary’s Chief Marketing Officer, did in his time with the company and its fleet of mobile pizza kitchens. There are few industries which are not crowded with competition, so highlighting what makes your business special helps you to make a name for your brand and stand out from the crowd.
The right marketing campaign can take your company to places it’s never been before. If you’re unsure of the next step for your marketing strategies try some of the above techniques and you’ll likely see new faces walking through the doors before you know it.
Businesses today face a wide range of security threats. Brick-and-mortar businesses are significantly more likely than residential properties to become targets for theft, with 8.8 percent of small businesses suffering burglary annually, representing nearly one in ten companies, according to insurance provider Insureon. The risk of digital security threats is even higher, with eight in 10 U.S. businesses anticipating a critical breach in 2019, a Ponemon Institute survey found.
Fortunately, even as thieves strive to find new ways to rob business owners, security technology providers are developing innovations to make their task harder. Here are three types of risks businesses currently face, and some security systems companies can use to protect themselves against these threats.
1. Hardening Physical Security with Barriers and Surveillance
While some security threats require high-tech solutions, when it comes to physical break-ins, your first line of defense is still a good solid door and lock. In half of all commercial burglaries, the thief gains entrance through a door, a Temple University survey found. When a door can’t be opened, picked or broken, burglars will look for another point of weakness, such as a window that can be smashed or opened with a crow bar. You can protect doors by using measures such as solid wood or steel doors with steel frames, deadbolt locks with throws at least an inch thick and supplemental protection such as security storm doors. For windows, use barriers such as roll-down grilles for front windows and iron works for side and rear windows.
High-tech surveillance systems and alarms are also integral to physical security. Burglars don’t like to be seen, so a good surveillance camera system coupled with motion-activated lighting can serve as a strong deterrent, as well as a means to identify thieves should a break-in occur.
For instance, security camera system provider Lorex has developed Nocturnals cameras with 4K Ultra HD resolution and color night vision capability, able to capture critical details such as burglar hair color and license plate numbers even in low-light conditions. This type of camera system can also be set up so that if the motion sensors are triggered, push notifications are sent to your smartphone via an app, allowing you to respond more quickly to an event in progress.
2. Countering Ransomware and Cryptojacking
On the digital front, ransomware was the biggest emerging cyberthreat to businesses a couple years ago. In a ransomware attack, hackers use attachments or links in emails, on websites and in social media messages to trick users into downloading malware. The malware then encrypts the user’s files and demands a ransom payment in order to restore access to the files, threatening to permanently encrypt the files if payment is not made.
Last year, cybercriminals took ransomware a step further by deploying a similar attack method called cryptojacking. Cryptojacking uses the same methods as ransomware to get on a user’s device, but then the malware covertly hijacks the device’s resources in order to “mine” cryptocurrency such as bitcoin online. This increases the device owner’s utility bills while slowing down their processing speed, effectively making them pay the expense of hosting criminal activity. Unlike ransomware, cryptojacking does not cause any obvious damage, so victims may not notice any symptoms other than a slowdown in performance. Cryptojacking now affects 10 times more businesses than ransomware, according to Check Point Research.
Both ransomware and cryptojacking can be countered by taking basic cybersecurity steps such as avoiding clicking on suspicious links and attachments, keeping software and antivirus programs updated to the latest versions and installing ad-blocker and anti-cryptomining extensions in browsers. In addition, you can protect yourself from losing files to ransomware by performing regular automated file backups using a service such as IDrive.
3. Blocking Business Identity Theft
Most people have heard of identity theft against consumers, but you might not realize that businesses can also have their identity stolen. Identity thieves who gain access to sensitive information about your business may use it to open up business lines of credit in your company’s name, open personal lines of credit in the name of your company’s personnel or customers, or apply for phony tax refunds in your company’s name. This can damage your company’s reputation and business credit rating, hurting your ability to get access to credit. Business identity theft is on the rise, increasing 250 percent from 2016 to 2017, according to the IRS.
Sound cybersecurity policies can help protect you from business identity theft. Some basic steps you can take include requiring employees to use strong passwords or password manager software, only using secure networks such as VPNs, keeping software and antivirus programs current with the latest updates and avoiding suspicious email attachments and website link. Thieves may also try to steal your information by intercepting your mail, so it’s also important to physically protect your mail. The US Postal Inspection Service advises taking steps such as picking up mail promptly after delivery, delivering outgoing mail directly to a postal carrier or a letter slot inside a post office rather than an unmonitored postbox and notifying your post office to hold your mail when you’re out of town.
Despite your best efforts, your business identity may be stolen anyway through means beyond your control, such as a hack of one of your service providers. Experian recommends using an identity monitoring service to alert you to suspicious activity so you can take appropriate steps in the event of identity theft, such as notifying financial providers.
Businesses are vulnerable to security risks in both the physical and digital arenas, and a sound security strategy needs to address all these areas. Strong barriers and motion-sensitive surveillance systems can help prevent physical theft. Smart cybersecurity policies can reduce digital risks such as ransomware and cryptojacking. Cybersecurity measures can also help prevent identity theft, in conjunction with physical mail security and identity monitoring. Implementing these tactics can greatly reduce business security risks.
You’ve opened your dream business, you’ve got tasteful, stylish signage outside, and you’re ready for customers. However, on opening those double doors, not a soul can be found.
You’re stumped – you did everything right, and your idea is foolproof. So why hasn’t anyone stumbled upon your genius yet? Is your business not good enough?
Slow down – the problem probably isn’t with your business. The truth is, it can be challenging to get new customers, especially if you’re starting with very few leads.
That’s why we’ve created this handy list of 8 innovative ways to quickly gain new, loyal customers for your business.
Ready? Let’s jump in.
Hand pressing a new customers business button on blurred city lights background
8 Genius Ways to Hook New Customers
We’ve broken down our list into the 8 best ideas for you to start building your business’ client base.
While some of these strategies rely on existing customers, we’ve also made sure to include some tips for entirely new businesses as well.
1. Use Customer Loyalty
If you’re an existing business, you probably have some customers who love your service. In the case of building a base of new customers, any current customers become a valuable resource.
With this in mind, try a few of these techniques to leverage your existing customers:
Get them to give referrals (consider giving out some freebies in response)
Offer prizes (discounts, coupons, gift cards) for reviews or bringing in new people
Personalize touches for customers (homemade notes)
It’s no secret that customers are willing to bring people to businesses that they love – show your customers you value their business and their friends will follow.
2. Mingle with Contemporaries
In the age of the internet, it’s more important than ever for companies to have an active social media footprint. But more than just connecting with your regular customers, social media allows you to mingle with potential clients, even people not within your current industry.
In particular, Twitter and LinkedIn are great places to do this, as it’s easy to reach out to people and create a connection.
Social media isn’t the only place to link with new customers, either – try attending physical events and discussing your business with potential clients. That’s right, good old-fashioned footwork isn’t quite dead yet.
3. Give Out Promo Items
If there’s one thing we know about people, it’s that they love free stuff. So why not take advantage of that “take everything free” mentality?
Promotional items might seem cheesy at first glance, but they’re actually an effective (and cheap) way of marketing a business.
Plus, if you can figure out an innovative way to make the item useful (branded bottle openers, anyone?), the people who receive them will actually use them, putting your business in their head every time they do.
4. Hold Some Events
Events work nicely because they serve two purposes: people get to try out a new business, and they get to mingle with their friends. It’s a win-win, and a great way of generating new customers.
Here are some great ideas for events you could hold:
Reach out to groups looking for meeting/event spaces
Wine & cheese nights for food-based businesses or restaurants
Partner with another complementary business to hold a joint event
There’s also a hidden third benefit here – when people come to an event or hold their meetings at your business, they come to associate those good memories with your space. Triple whammy.
5. Improve Your SEO
SEO is just as important (or arguably more important) than your day-to-day foot traffic. While only a handful of people might walk past your business, many more will discover it via Google, Yelp, or other search services.
With that in mind, you can improve your business’ SEO in tons of fairly easy ways to gain new customers:
Create a blog full of common search topics in your industry (and update it often)
Cultivate your online presence, so you’re everywhere
Engage with a community by commenting and linking to other companies/businesses
It’s not enough to just have a website set up – you’ve got to put in the work to rank your website as well. You should also look into hiring an experienced team that can provide SEO services to help guide you in the right direction and provide ideas on how to take your business’ SEO to the next level.
6. Offer New Customer Specials
How many times have you seen a “new customers get 25% off” sign and been tempted to take a step in, even if the business isn’t somewhere, you’d typically go? After all, we all know the fear of missing out (FOMO).
Just like with free stuff, it’s possible to catch new customers with deals and steals, especially if they feel like those deals are going to go away soon.
With this in mind, try running some new customer-exclusive deals to get foot traffic into your business. Ultimately, the amount of money lost on discounts will be more than made up for if you can get some loyal new customers.
7. Use Available Resources
You no longer need to take stabs in the dark to estimate what kinds of clients want your products. In fact, there are tons of new software and partner companies that can help you generate leads and figure out who your target market should be (read more here).
While it might seem scary to bring in outside influence, don’t be afraid to consult these companies. They just might be the missing link to getting your business the recognition it deserves.
8. Carve out a Niche
The sheer amount of new businesses that crop up yearly can make starting a business seem impossible, especially regarding gaining new customers.
It’s not impossible; it’s just a bit different, as businesses need to find their “thing” to be successful. For instance, if you are a health food company, try to think of an angle that allows you to be unique in that space. Maybe you offer health food specifically for people who do watersports, or people who come from military training backgrounds.
Whatever it is, it’s critical to find a specific, unique space to occupy to build a base of new customers.
Now What?
Now you’re an expert on gaining new customers, so building a loyal base should be a breeze.
Hungry for more? Check out some of our other business articles for more tips on building a following, and contact us if you have questions or concerns.
Growing a business requires long hours and steadfast determination. However, it can be difficult to strategize and make plans towards business expansion, whilst still trying to juggle the day to day tasks of running a business. Fortunately, there are a few simple solutions to help you step away from your daily tasks and focus on future expansion. Read on to find our tips and tricks for maintaining workflow while growing your business.
Small Business Accounting Software
Accounting processes and financial reporting are among the most time-consuming tasks for business owners to perform. Payroll, raising invoices, inventory tracking and bank reconciliation, are all tasks which greatly restrict the amount of hours a business owner can spend working towards expansion.
Small business accounting software is the simple and cost-effective solution to a business’ accounting woes. Leading financial and accounting software is capable of automating many of the tasks which take hours for small business owners to manually perform. Some of the time-consuming tasks that accounting software can expediently perform are:
Invoice Generation: Proper invoice management is essential to the success and growth of any small business. Without invoice management processes in place, small businesses suffer from depleted cash flow. This is a significant impediment to any business growth goals you may have in place.
Accounting software is capable of streamlining and automating the entire invoicing process. The software is able to email professional invoices to your clients immediately after a sale has been made. These online invoices provide your clients with an easy and safe online link for payment, enabling them to use all major payment providers including AMEX, Visa, MasterCard and BPAY. Automated invoicing allows you to step away from chasing up late-payments and sending batches of invoices to clients at the end of the month.
Financial Reports: A business that has its eyes set on expansion requires frequent and accurate financial data. This data is critical to securing an understanding of your business’ financial position and monitoring any highs and lows in your cash flow. Generating financial reports is incredibly time-consuming when performed manually. It is also easy for the human eye to miss or incorrectly input numbers; thereby threatening the accuracy of your entire data pool.
One of the key benefits of accounting software is that it is able to integrate with your existing systems and sales processes in order to generate automated financial reports. This saves you the time and effort involved in manually inputting data. It is also an incredibly helpful feature for any business looking towards expansion as it provides accurate, real-time data for any investors or outside entities to review.
Prepare Early
Early preparation is key when working towards growing your business. In order to maintain workflow while your business expands, it is essential to adequately prepare for the changes that growth will bring.
Many businesses fail to prepare early for increased growth and find their workflow suffering due to existing suppliers, processes and staff that are not adequately prepared for growth. It is therefore essential to prepare early by reviewing your current processes, staff and suppliers to ensure that your existing structure is sustainable for the future. Accounting software is also an important tool to utilise throughout this process. The software is capable of performing predictive analysis based on your live sales reports, providing you with data-driven statistics of your predicted growth.
Schedule your Day
When preparing to expand your business it is essential to vigilantly schedule your work day. This means setting aside designated hours of your day to pursue any leads or complete any work that is related to your business expansion plan.
Adhering to your schedule ensures that you set aside time every day to strategically prepare for your business’ growth. It also means that you can allocate other staff members accordingly to cover some of your other tasks during your set time period.
Preparing for business expansion is an exciting time for any small business owner. In order to secure the success of your business growth, it is important to prepare early and invest in leading software and tools to help you achieve your goals.
Are you a location-independent freelancer or professional? Do you miss the creative juices that sometimes flowed in the office of your old job? Are you looking for a place to conduct business while remaining unbound by traditional job roles?
Welcome to the world of coworking!
Wait—what is coworking? And what is a coworking space? Do I need one?
We’re glad you asked. A coworking space allows you to do everything we just talked about—remain a remote employee, but with an area to call your own if you need it. It gives you that subtle, social motivation you might miss from your office days.
Coworking spaces must be doing something right. After all, there are at least15,500 coworking spaces globally. And within them are as many as 1.27 million people.
So at the very least, consider one. And when you begin hunting for that perfect environment, let this checklist guide you to the best space!
What Is a Coworking Space, Exactly?
When you think of the building, the people, the location, what do you imagine? What are the demographics of the people there? Is it quiet or bustling?
You get all this (and more) with coworking spaces. No two are alike, offering locals many options to suit their lifestyles.
Here area few statistics about these spaces that should give you a better understanding of its uses:
40% of workspace workers are freelancers, independent contractors, entrepreneurs, or temps
64% of workers find themselves better able to finish work on time
70% feel healthier in this environment than they do a traditional office
60% of workers also feel more relaxed at home after using coworking spaces
Almost 80% of workers are under 40
The stats say it all: remote workers love coworking spaces! And they’re agreat place for budding startups, too. You get all the perks of an office without the high office overhead!
Whether you need somewhere to work on the reg or you want to drop in for a few hours a week, coworking spaces are your new go-to.
Here’s what you need to think about in your hunt for the ultimate space.
Is It Comfortable?
We’re talking about every sense of the word comfortable. The coworking space must be actually comfortable—ergonomic chairs, standing desks, conference rooms. And the community must feel like a proper fit for you, too.
What does this mean? Working close to like professionals and being able to network with those from similar positions. If you’re a stockbroker surrounded by artsy beatniks, well—it could be hard for you to settle in properly (and vice versa).
It also means the difference between ambient noise and distracting sounds or racket. Do you like your space to be quiet? Or are you most productive when there’s background noise?
When you walk into a new space, try and register your level of comfort as soon as possible.
What Are the Food and Drink Options?
Every coworking space should have a designated kitchen or kitchenette area. Whether it’s stocked for free, pay as you go, or supplies a microwave for you to warm food up—it’s necessary. And food aside, what about coffee?
Oh yeah, and water. And for those who don’t like coffee—tea. A few soda options or light snacks wouldn’t hurt, either.
If you’re going to be there for hours during prime meal times, you need a place that not only allows for that but maybe supplies food of their own. One coworking space in NY doubles as a restaurant at night, giving workspace workers access to a secret menu! (Visit this page to see what you could be missing out on.)
Your work is essential—but so is your belly.
How’s the Location?
All convenience falls by the wayside if the commute to your coworking space takes up too much time.
You want your space to be an ideal fit—within reasonable distance for you, as well as in a good place to hold conferences. If you need to have a meeting, can your guest make it to your coworking space in an adequate time? An ideal fit would be able to manage both of these.
Does It Provide Supplies?
We’re talking office supplies. We’re talking printers, copier machines, uninterrupted WiFi! What supplies does the coworking space you’re touring offer?
If the answer is none, well—you may as well stay at home.
If you need to print some important documents, a functioning printer on hand is excellent. If your pen runs out of ink, or your computer of battery, some extras would make the difference between leaving the space and staying. A good coworking space should have ample supplies on deck for their workers.
How Much Does It Cost?
Of course, the price should always be a consideration.
Coworking spaces vary greatly, and thus, so do their prices. A good space shouldn’t cost you more than the sum of your efforts there. If you’re spending more on the space than you’re making back, it’s not the best fit.
Is There a Gym?
Remember the statistic we mentioned earlier: 70% of people feel healthier using coworking spaces vs. traditional offices?
One reason for this could be that many coworking spaces are now including gyms or open rooms for physical activity. Within these rooms are yoga mats, workout gear like treadmills or weights, aerobic balls. If you really want some perks, see if it has a gym.
Is There a Host/Curator Available?
Who cleans the space? Who has responsibility for safety, both data security, and physical safety? Who manages, curates, and provides necessary supplies or food?
Get to know your host—if there is one. And there should always be a host there. Whether to help new workers or maintain a good environment, their presence is a helpful one.
Give Coworking Spaces a Try!
Now that your question—what is a coworking space?—has been answered, it’s time to find one that works for you. Luckily for you, coworking spaces are continually trying to improve for their remote users. This means that right now is the time to find the best of the best.
So, what’s your first task going to be in the new space? We’ve got an idea: work on your brand!
The question of survival is omnipresent for businesses in 2019. In recent years, employee-centered business models have emerged. Companies recognize that work improvements lead to higher quality production.
Also prevalent is a focus on customers. Industries face the challenge of relating to an audience that demands more transparency. What we know is that the business landscape will continue to grow and change.
Keep reading to discover how business trends 2019 are changing the global market.
African Economic Revolution
The continent of Africa has seen the economy of only a few of its countries rise with the discovery of oil. Now, free trade agreements, industrialization, and technological advances are creating opportunities for others.
Industries like Ethiopia’s car manufacturing will continue to grow across the continent. This will create a surge of jobs and increase the number of households with disposable income. The advent of solar electricity panels will illuminate millions of homes without power. Electrification can only lead to increased internet access, learning, and wide-spread skills acquisition.
Bubble speech with cut out phrase “trends” in the paper.
Business Automation
Automation in business software has been a growing trend for years. As companies try to do more with less, specialized software rises to the occasion. For example, before, bookkeeping information had to be entered manually into accounting software. Now the fields auto-populate when you make a sale or scan a receipt.
2019 will see this trend rise in customer communication. Customer relationship management (CRM) tools will become a business necessity in the connected age.CRMs for small business collect customer data and facilitate automated communication through email.
Automation allows companies to maintain relationships based on a client’s position in the sales funnel. Better relationships lead to increased business success.
Customer Data Regulations
A connected society demands a personalized approach to marketing and communication with customers. To this end, collecting customer data has been the key to unlock success for large and small businesses alike. This also comes with increased threats to privacy and personal information.
Information security threats led Alabama andseveral other states to pass regulation. Legislators are looking at how companies protect and obtaining consumer information. As tech advances continue to connect us, regulators will be forced to keep up.
Remote Workers
4.3 million Americans reportedworking remotely at least half the time in 2016. 3.2% seems small until you consider that this is a 114% increase from 2005. Employees who work remotely benefit from lowered stress levels and higher productivity levels.
Telecommuting is most popular in the finance, technology, and design industries. The trend has created opportunities for baby boomers, working mothers, and the disabled.
The number of people telecommuting is only expected to increase in coming years.
Mobile Banking Flexibility
The traditional form of banking is in for a major rejuvenation. Blockchain, mobile payments, and alternative lending are the new kids in class.
Blockchain is a system for tracking the spending of cryptocurrency. Compare it to a banking statement. Instead of using your personal information, it uses a digital signature. A digital signature is like a username.
Blockchain offers more security for the buyer. It may also be the answer to personal data security. We will see it continue to grow as the technology and use of bitcoins grow.
Mobile banking will see a growth in the coming years also. Customers who prefer different payment options now have a choice of hundreds of banks all over the country. If they don’t qualify for in-person loans, there arealternative lenders online with fewer restrictions.
Business Trends 2019
You don’t have to be the CEO of a public corporation to feel the changes in the market. A more connected, global economy means that everyone has a chance to compete for the same employees and customers.
Business trends 2019 will see a rise in banking flexibility and personal data security. Add to this flexible employment and the rise of new economies.
Proper market research can keep your business ahead of the trends.Click here for common mistakes to avoid.
Nowadays, businesses are so diverse, and even the smallest local businesses can have a huge range of jobs and tasks to complete on a daily basis that leaves not a lot of hours left in the day for anything else.
However, with the rise of this mountain of jobs comes to the latest technological developments, most importantly automation. There are so many areas of your business you can automate using software, allowing you to streamline your operations in terms of production and quality.
Not sure where to start? Check out these six areas of your business you can start automating today!
#1 – Streamline Communication
Think about how many different channels you communicate through with different people within your business. From instant messaging and social media to emails and phone calls, staying in touch has never been easier.
However, by dedicating a channel to a different topic, such as instant messaging for urgent communications only, and email for information, you can streamline how you stay in touch and augment the way you communicate.
#2 – Emails
No automation list would be complete without a mention of automating your emails. There are so many platforms and software packages out there that you’re seriously missing out if you’re not already using one to manage your customer emails.
From breaking your mailing lists down into demographics, A/B testing your emails and manage thousands of emails, there’s no denying the power that email automation can bring to your business.
#3 – Social Media
It’s far more difficult and time-consuming if you’re thinking of things to post of your social media channels and then taking the time every day to post. Instead, why not dedicate a few hours into bulk creating posts and thenscheduling the posts automatically, so you don’t have to do anything.
This will save you so much time in the long-term, meaning you’re able to stay on top of and optimize your social media campaigns while spending minimal time doing it.
#4 – Automate Your Lead Tracking
Depending on how long you are currently spending watching, monitoring, organizing and managing your leads, why not get a super-fast andeffective lead tracking application to do it for you? Of course, when you’re competing for every lead possible, this efficiency is essential.
#5 – Look Out of Opportunities
Every business is different, and there’s no be-all-and-end-all solution to what you can automate or not automate. Your business could be very different from another. However, the best way to look for automation opportunities is simply to look out for areas of work which are repeated over and over again.
This could be anything from generating newsletters, sorting emails, counting stock, checking till balances or anything in between. All you need to do is lump these tasks together to make things far easier for yourself and your employees.
#6 – Implementing AI and Deep Learning
There’s no denying the rise and boom of AI technologies is going to change the world and everything in it completely. When it comes to your business, this technology is readily available right now, whether that’s through asales automation CRM or a third party, that can help.
Take the data points and analytics from your business and website, feed them into your platform and get automated control over your prices, your business processes, and operational functions; easily one of the best ways to optimize your business.
Summary
As you can see, there are plenty of ways to enhance your business using automation. Simply look for the areas in your business that are repeated regularly and see what solutions that are out there can help.
Living sustainably is not only the right thing to do for our environment, but it is also the smart thing to do overall. A more sustainable life is healthier for you and the world, and it will start saving you money down the road.
The same can be said for businesses. Many of the changes you make at home to be environmentally-friendly can also be done at the office. Plus, all the benefits you see and feel at home will also transfer into the corporate world, and then some.
Sustainable businesses will notice an improvement on their bottom line, be looked at as a leader in the push to be more environmentally-friendly, and likely see an increase in customer and clientele. Many people in the public will favor companies that work to be more sustainable than others because being environmentally-friendly becomes more important every day.
Don’t think that making a business sustainable has to be difficult. In fact, with the COMMERCIALCafé sustainability report recently released, we can see more states across the country making the switch.
Implement some of the following smart changes to your business to become more sustainable every day.
Start With Office Supplies
Take a look at your supply cupboard or closet in the office. How many pens, pencils, and other stationery items are lying around, and how many are likely missing? Every day people lose their pens and go to the stationary room to grab another one. All that plastic turns into waste.
Instead, invest in reusable stationary supplies. Reusable pens allow you to refill their ink when they run out. Instead of throwing away old pens, refill them and continue. You’ll notice it will save you money in the long run.
Review Your Procurement Policies
If you outsource many of your supplies, review your procurement policies. Look to see what your supply company is like and what their stance is on being economically-friendly. You could make a significant adjustment in your sustainability plan by merely making your procurement policy reflects your environmental standards. Go with suppliers that recycle, work towards being energy-efficient and lower their carbon footprint, and refrain from using toxic substances.
Green Web Hosting
To keep all of the servers running for businesses across the country, it requires a significant amount of power. All of that power needed will continue to damage our environment. However, relies on having the serves operating at all times. Instead, make it a part of your company’s policy that you utilize green web hosting.
Green web hosting ensures that the environmental impact is considered when powering your server. The hosting company will utilize environmentally-friendly and renewable power sources. You’ll also find that this option will save you money in the long run as well.
Become Energy Efficient
Your company itself can work towards being more energy efficient as well. There are many easy ways to make the switch. First, simply turning off the lights in rooms no one is using will conserve energy. For areas that do not get used very often, install motion sensors for the lights. When no one is around, they eventually turn the lights off.
You can also change out all of the existing light bulbs with LED ones. LED bulbs are highly efficient and use incredibly less power than other bulbs on the market. Not only that, you will see savings on the utility bills for the company.
Turning green doesn’t have to be hard. With small, steady steps, you’ll change your business to be more sustainable every day.
Like anyone other kind of skilled worker, roofers encounter competition in their hometowns. And like most other business owners, roofers have to be good at sales. How can you outsell the competition and take your roofing business to great heights? It’s a lot easier when you take these four strategies to heart.
Create relationships with other small business owners.
From material suppliers to contractors, networking is very important to a roofer. After all, it’s much easier to navigate the business landscape when you have allies to point you in the right direction. From where to advertise locally to employee recommendations, staying plugged into the scene can get you far.
Most of all, you want them to recommend you to their customers. If your buddy in HVAC is with a homeowner who needs a leak in their roof fixed, you want them to pass your number along, and vice versa.
Make customer service a priority.
The quality of the work you do is most important. However, you may not even get to this step if you don’t put enough emphasis on customer service. When a potential customer calls, they want someone to answer the phone, be personable, and be able to answer their questions.
If you don’t have customer service covered, know that another roofer will. Customers are going to choose the roofing company that makes them feel like they’re making a good decision, and being highly responsive and knowledgeable is the way to accomplish that.
Stay legal.
One of the best things you can advertise is how solid and compliant your business is. Shady contractors are unfortunately everywhere, and letting customers know right out of the gate that you’re good to go on any required permits and licenses is a solid start.
While you’re at it, flaunt your insurance. Everyone knows that roofing is a dangerous job, and roofers that are covered inspire more confidence. Checking out roofing insurance at Next-insurance.com is a quick, easy way to get started.
Identify what stands out about your business.
Good contacts, customer service, and compliance are all fantastic qualities. Still, there may be a competitor who hits those marks as well. Your final strategy is to define what it is about your company that shows you’re a cut above.
This can be something as simple as what materials you use. Are you using innovative new shingles that can save customers money on their energy bills? Put that front and center. Are you using nontoxic insulation? That’s attractive to many homeowners. If you can’t figure it out, share photos of your best work. Provide proof that not only are you customer-focused, but people are already hiring you because of your quality work.
There are all kinds of marketing tricks to try, from free estimates and discounts, to a great website. But you can separate yourself from the competition easily when you connect with other contractors, sharpen your customer service skills, and proudly display your credentials. From there, you’re free to get down to business and do the great work that will skyrocket your reputation.
Starting your own business can bring you wonderful opportunities, one of the most rewarding is that you are no longer subject to following other people’s orders, and are free to run your business as you see fit. While the benefits of being your own boss are definitely worthwhile, they also come hand in hand with a lot of new stresses and responsibilities which you don’t face when working for someone else. For example, there are a lot of different factors which need to be considered when setting up a company, from finding your place in the market to getting the financial and emotional support you need to get off of the ground. If you are thinking of pursuing your own start up, then here are four things you might need to think about.
Finding a niche
Most new businesses are either one of two things: a development of a pre-existing product or service which has been made more appealing to the market, or a completely new and original concept. In either case, it is important that your business fills some sort of gap in the market, and is supplying something which consumers will want to buy. In other words, you need to choose a business idea which fills a niche in the market.
The only way to truly know what consumers want is to do extensive research into current and prospective buying trends, and to evaluate what new business would be a good asset to the current climate. A great way to find out what your potential customers are looking for would be to conduct focus groups or interviews and ask members of your target market what they feel is missing from the already available products and services available, and what they would like to see from a new business.
Once you have a business idea in mind, before you commit to your product, you should make sure to research your potential competitors extensively. By looking at your rival businesses, you can make sure that you don’t set up a business in an area where there is too much competition, and also that you can create a product or service which has more customer appeal than what is already currently available.
Finding the startup capital
If you are thinking of starting your own business, then it is possible that you already have some money to put towards the start-up capital you will need. Whether you do or don’t have much money of your own to put towards the initial start-up costs for your business, it is still worthwhile to come up with methods of procuring additional funding, as this venture may be a lot more expensive than you think. After all, there is a lot that goes into building up a company, from finding a base of operations to hiring employees, and collecting all of the necessary stock.
Therefore, it is important to sit down and try to estimate just how much money it is going to take to set up every little detail of the business. If you find that you don’t already have enough money to meet every aspect of your startup, then you need to start thinking of other ways to get the necessary funding.
There are a few different ways you could do this. Firstly, you could look for business investors who would be interested in putting money into your business in hopes of a later return. To get investor backing, you would first need to construct an informed and compelling business plan to present to them, along with being able to pitch a persuading argument as to why your business is worth investing in. You could also try peer-to-peer investing, and acquire smaller amounts of money through your peers in this way. Alternatively, if you have bad credit or are unsure of having investors who may want to influence your business, you could consider getting a loan, such as from Bonsai Finance. Plus, you could always consider using online websites which allow people to raise money from complete strangers, who donate to your startup if they think the idea is good, such as Go Fund Me.
Branding and marketing
Branding your business is what gives your company it’s identity, which is important as this is what your client sees and makes a judgment on before they have even used any of your products or services. The right branding will help to draw your clients in, so it needs to be clear and concise, and accurately portray all the necessary information which you want your customers to know about your service.
Branding is comprised of a number of different attributes, such as company name, logo, color choices, slogans and a recognizable face or mascot of the company. Over time, as your company grows, it is these different factors which will become known across a wider base. In essence, people should be able to look at your company logo and know who you are and what you do.
When you market your business, many of these different branding techniques should be present, such as having your logo on the screen on a television advert or using the mascot or face of your company in all of your advertisement regimes. Try to choose advertising distribution techniques which are most likely to be seen by your clients. For example, a target market of 18-30 is more likely to see an online advertisement than an ad in a newspaper.
Getting support
Running a business can be extremely difficult, which is why it is important to have a reliable team of people who can support you. This could either be in the form of business partners, a hired management team or just simply get the support of your friends and family to help you in the early stages of your business. There can be a temptation to have a personal involvement in all aspects of the business, but it is important to remember to delegate tasks, as this will help your business to run more smoothly.
Starting your own business can bring you wonderful opportunities, one of the most rewarding is that you are no longer subject to following other people’s orders, and are free to run your business as you see fit. While the benefits of being your own boss are definitely worthwhile, they also come hand in hand with a lot of new stresses and responsibilities which you don’t face when working for someone else. For example, there are a lot of different factors which need to be considered when setting up a company, from finding your place in the market to getting the financial and emotional support you need to get off of the ground. If you are thinking of pursuing your own start up, then here are four things you might need to think about.
Finding a niche
Most new businesses are either one of two things: a development of a pre-existing product or service which has been made more appealing to the market, or a completely new and original concept. In either case, it is important that your business fills some sort of gap in the market, and is supplying something which consumers will want to buy. In other words, you need to choose a business idea which fills a niche in the market.
The only way to truly know what consumers want is to do extensive research into current and prospective buying trends, and to evaluate what new business would be a good asset to the current climate. A great way to find out what your potential customers are looking for would be to conduct focus groups or interviews and ask members of your target market what they feel is missing from the already available products and services available, and what they would like to see from a new business.
Once you have a business idea in mind, before you commit to your product, you should make sure to research your potential competitors extensively. By looking at your rival businesses, you can make sure that you don’t set up a business in an area where there is too much competition, and also that you can create a product or service which has more customer appeal than what is already currently available.
Finding the startup capital
If you are thinking of starting your own business, then it is possible that you already have some money to put towards the start-up capital you will need. Whether you do or don’t have much money of your own to put towards the initial start-up costs for your business, it is still worthwhile to come up with methods of procuring additional funding, as this venture may be a lot more expensive than you think. After all, there is a lot that goes into building up a company, from finding a base of operations to hiring employees, and collecting all of the necessary stock.
Therefore, it is important to sit down and try to estimate just how much money it is going to take to set up every little detail of the business. If you find that you don’t already have enough money to meet every aspect of your startup, then you need to start thinking of other ways to get the necessary funding.
There are a few different ways you could do this. Firstly, you could look for business investors who would be interested in putting money into your business in hopes of a later return. To get investor backing, you would first need to construct an informed and compelling business plan to present to them, along with being able to pitch a persuading argument as to why your business is worth investing in. You could also try peer-to-peer investing, and acquire smaller amounts of money through your peers in this way. Alternatively, if you have bad credit or are unsure of having investors who may want to influence your business, you could consider getting a loan, such as from Bonsai Finance. Plus, you could always consider using online websites which allow people to raise money from complete strangers, who donate to your startup if they think the idea is good, such as Go Fund Me.
Branding and marketing
Branding your business is what gives your company it’s identity, which is important as this is what your client sees and makes a judgment on before they have even used any of your products or services. The right branding will help to draw your clients in, so it needs to be clear and concise, and accurately portray all the necessary information which you want your customers to know about your service.
Branding is comprised of a number of different attributes, such as company name, logo, color choices, slogans and a recognizable face or mascot of the company. Over time, as your company grows, it is these different factors which will become known across a wider base. In essence, people should be able to look at your company logo and know who you are and what you do.
When you market your business, many of these different branding techniques should be present, such as having your logo on the screen on a television advert or using the mascot or face of your company in all of your advertisement regimes. Try to choose advertising distribution techniques which are most likely to be seen by your clients. For example, a target market of 18-30 is more likely to see an online advertisement than an ad in a newspaper.
Getting support
Running a business can be extremely difficult, which is why it is important to have a reliable team of people who can support you. This could either be in the form of business partners, a hired management team or just simply get the support of your friends and family to help you in the early stages of your business. There can be a temptation to have a personal involvement in all aspects of the business, but it is important to remember to delegate tasks, as this will help your business to run more smoothly.
When you run a product-based business, figuring out logistics can be a nightmare. The task is often best outsourced to the shipping company who will be handling your goods and getting them from point A to point B.
Whenever possible, working with the same shipping company for the majority of your shipping needs is optimum. So how do you decide which one is best? Here’s how to choose the right shipping company for your business to ensure your products get to their destination in a timely, safe manner.
Pricing
One of the main things to consider when selecting a shipping company is pricing. You may think that all shipping companies will be on par with pricing, as they are virtually traveling the same distance to make your delivery– that could not be further from the truth. The size of the company, the fleet options available, supply and demand, and capacity all make a difference.
For example, if you are only filling half a container with products, you may pay more per pound than you would on a full container. Some shipping companies will organize their shipments to benefit both your budget and their bottom line. Compare pricing options before moving forward.
Third Party Options
As a subset to pricing, you may have better luck going through a third party logistics provider than you would negotiating yourself. Companies like Irish Parcels (visit them at IrishParcels.ie) spend their time building a rapport and networking with couriers. As they drive a lot of business to the shippers, they are offered deals and discounts that aren’t readily available to the average consumer, which then gets passed on to you.
Tracking
Being able to know where your items are when they’re in transit is a huge relief for those on a time crunch or sending valuable goods. In logistics, if there is a delay in transport it has a domino effect on other areas of the supply chain. Being able to identify a delay issue and contact someone about it immediately can help mitigate the risk of customer dissatisfaction and costly rerouting scenarios.
Most courier services now offer online tracking. This service is especially important for businesses who ship directly to customers around the holiday season, as that’s the busiest time of year for shipping and revenue.
Service
As with any business, the quality of service often outranks the pricing implications. As a business, you want to know that your products are in good hands so that your customers come back and purchase more goods. The same mentality should apply to the shipping business, who wants you to continue to use their service.
When you work with a shipping company, you should feel comfortable picking up the phone and addressing any questions or concerns you may have. Your customer service experience should leave you feeling taken care of, as you know you have knowledgeable, caring people looking out for your assets.
Coverage
When choosing a shipping company, look at the area they cover. Will they get your product to the final destination or will you have to coordinate a pick up from a depot? Will they pick up your product from your warehouse or will you have to coordinate transportation there?
Depending on the mode of transportation you’re using, and the location of the final drop-off, it’s not uncommon to have multiple modes of transportation in the shipping process. However, having a clear idea of what’s expected can help you decide what company to use. Keep in mind that the more your product is handled, the more likely it is that damage will occur.
Taking your time to build a rapport with a shipping company will ensure you get the best pricing and service for handling your goods. Research, ask questions, and get recommendations from other businesses to make the right choice.
If you are considering starting your own business, you may have heard numerous reasons why it is too much trouble. However, there are many more reasons why owning your business is worth the trouble and we have listed the top five. If we have convinced you that being a business owner is worth it, Gov Doc Filing has all the information needed on how to get a Federal Tax ID.
Tax Benefits
As a small business owner, you are given the opportunity to benefit from some nice tax perks. Most business owners can write off expenses such as food, travel, a portion of a car payment, phone bills, and more. There are also government incentives for certain start-ups.
When it comes to taxes, it’s also very important to know whether to register an LLC or an S-corp.
Financial Independence
This is probably the most common reason why people own their own business. As a small business owner, you define what financial independence means to you.
Your Brand
Most people find enjoyment in being known for something. Depending on what product or service your business provides, people may begin to refer to you by its name. Such as the software guy, or retail woman. Regardless of what it is that you are recognized for, it is exciting building a brand that earns recognition.
Create Jobs
There is a great feeling in knowing that you are responsible for creating jobs for your employees. Your employees were given the opportunity to earn a living to fulfill their own dreams and provide for their family.
Job Security
You are your own boss. You no longer have to worry about being downsized, fired, or laid off.
To apply and learn the many benefits of filling out a federal tax id application, please visit Gov Doc Filing. They provide a fast and secure way to apply for your LLC state registration.
Business owners who are always in search of ways to reduce their expenses and become more efficient are more likely to enjoy higher profit margins. But what are some the best ways to trim your company’s expenses on a day-to-day basis? Check out the tips below if you are a businessperson who wants to be more financially savvy.
Analyze Your Vendors Often
Sure, you could receive some much-needed funding quickly by working with a group like Lendr, but when you want to lower your expenses for the long run, checking on the vendors that you use is a great place to start.
A semi-annual or even an annual, review of your most important and most often used vendors is a way that you can check on what you are spending, and whether it is all worthwhile. And this is especially important if you are locked into contracts that renew, as you could stop an automatic renewal if you realize that you are overspending. You could even go to a vendor and let them know that you are thinking about heading to a competitor if they are unable to reduce their prices for you.
Don’t Be Afraid to Outsource
Outsourcing is a surprising way to save money when you need to get something done, whether you need to have a website designed, articles written for your blog, or videos made for your YouTube channel. If you outsource by hiring contractors, rather than hiring full-time staff for all of these tasks, you can really cut back on your expenses.
Because there are many websites that make it easy to find freelancers from around the world, locating the professionals that you need is no longer a difficult process, and you can find the right pro who will work with your budget too.
Make Purchases Instead of Renting
Paying monthly fees isn’t always avoidable, such as when it comes to your internet and phone service provider, but if you are renting equipment and paying a fee every month instead of purchasing it, you might be spending far more than you should.
A lot of businesses need office equipment, manufacturing equipment, company vehicles, and more. Instead of purchasing these items, they might end up leasing what they need. But if you crunch the numbers, you might find that a lease will cause you to spend more money over the long run than the purchase price itself. Ouch! So, before you sign on to another lease, calculate what your costs will be. If it makes sense to purchase, and you have the funds available or you could get on a payment plan that works with your budget, consider choosing that option.
These are just a few of the many ways that you could begin to reduce your business’s expenses every month. Then, as you begin to cut back on more and more of your costs, you should find that your profits increase. And with more money in the bank, you could focus on growing your business.
With technology making our world smaller every day, going global has never been more vital in business. But where do you start? Here are ten highly recommended steps for that crucial expansion.
Image of businesspeople at presentation looking at virtual project
Research Your Target
Every country you want to conquer has a unique sets of rules and traditions. Research what’s important to those customers, what they’re looking for and how your product or service fits in with that.
Make a New Business Plan
This is very new territory for your company, so the original documents likely won’t cut it. Get to know the market; your sources as well as import and export prices and all additional costs, so you can be as prepared as possible.
Develop Short, Mid & Long-Term Goals
Expanding internationally is a massive project. Keep yourself and your team on track with a variety of time-goals. This will also help you to prioritize important tasks.
Embrace New Tech
The progress of new technology is remarkably fast. Keeping up with key developments will provide more avenues for sales, communication and innovation. It will also help you keep in touch with distant branches with ease.
Take Advantage of Seasonal Differences
If you’re expanding across hemispheres – great! Use the opposing seasons to your advantage to get rid of stock or present a new line.
Connect With Local Businesses
Foster relationships with businesses in the local area to improve your reputation and to get a helping hand when you need it.
Taxes and Laws
Get clued-up on local laws and financial obligations. Legal processes could be more strict or more lapse, but knowing them will save you both time and money.
Hire Carefully
Overseas branches can’t be monitored as closely as those at home, so make sure you know who’s in charge. It can be difficult to judge personalities in another culture, get professional advice if necessary.
Be Physically Present
As much as new technology allows us to have meetings from anywhere in the world together, being physically present has its advantages. Turn up and get stuck in, you’ll gain a better understanding of your company for it.
Protect Your IPR
Your Intellectual Property Rights may not be covered in certain countries, so it’s wise to check out how this works in your target area.
Overall, being prepared is key to any major development in your company. Conducting thorough research, alongside seeking advice and guidance when you require it will put you on a solid path to start your expansion. You may be managing the project, but you can’t do it alone – which is why it’s so important to have a great time both at home and overseas. Regardless of the market you wish to enter, Whether you’re SEO consultants in Germany or a law firm based in Arizona, the pattern remains – those who do their homework beforehand always have better luck at getting their foot in the door.
Running a business presents many different challenges. But maintaining good financial health is easily the most important. Without money, the entire venture will crash and burn. Unfortunately, only a small percentage of entrepreneurs ever truly master this factor. This is the chief reason why so many fail.
Entrepreneurs can learn a lot from analyzing other successful business owners. This is especially true when it comes to the financial management. Adopt the five simple points below, and you’ll be running the venture like a pro in no time.
Don’t leave it to chance. The best business owners share many traits, and an attention to detail and control is up there. Tackling situations without that tight grasp only increases the chances of problems surfacing. Nowadays, monitoring all elements is easy thanks to accounting and tax software and other key tools. Likewise, tracking overheads to see where money is being wasted should give you a far better shot at ongoing success. After all, kicking the bad habits ASAP is a habit shared by all modern success stories.
Don’t be afraid to borrow. Cash flow problems often stop businesses from reaching their goals. This is because the slower progress sees the company fall behind its competitors. Customers won’t stay loyal if you don’t give them a reason too, which will spell disaster. Services like Businesslineof.credit allow you to acquire extra funds in a responsible manner. With the door to expansion and growth fully open, the immediate and long-term revenue will look far greater. This should result in increased financial stability too.
Don’t waste time. We’ve all heard the phrase that time is money, and it’s true. Therefore, one of the most valuable skills you could ever master revolves around efficiency. Upgrading the communication links will make the team and money work harder. Investments into automated services ranging from stock management to client care will work well. Ultimately, you do not have the same level of resources as those big companies. Therefore, using yours in the best manner is crucial. Do not forget it.
Don’t spend for the sake of it. Many entrepreneurs make investments based on preconceived ideas of what seems right. In truth, the only moves worth making are the ones focused on maximized profits. For starters, you can find out about things you don’t need on a PC at Computershopper.com. Meanwhile, price comparisons on energy rates and ongoing services can see you reduce needless spending. When combined with cutting the gimmicks and other superfluous items, the business will run smoother than ever.
Don’t buy when you can rent. We live in a world where ownership is seen as essential. In business, though, successful asset management revolves largely around making money work harder. In many cases, it’s far simpler and more affordable to rent things. Not only does this ease the initial strain on your pocket, but it allows you to stay up to date with crucial features. The depreciation of vehicles, machines, and other tech features is very high. As such, your immediate and long-term situations will thank you for opening your eyes to rentals and running contracts. Purchasing assets is still useful at times. As with everything, finding the balance is key.
It takes a lot of guts to start your own business. Everyone has the tools and opportunity to do so but proportionally speaking, very few people go through with it. It takes someone with special character and resolve even to consider putting their financial future in question. But that is exactly what you’re doing when you open up a small business and go for it; chasing your dreams. This is why so many entrepreneurs are cautious in accepting help or at least sceptical. It’s understandable for many reasons because it’s your money on the line and it’s also a pride thing. But those who are willing to learn from those more successful open their mind to new possibilities and start looking at situations from a different angle. At the same time, expert advice is never cheap and one way or another you will end up paying something for it. Tipping the scales in favor of one way over the other doesn’t need to happen.
You’re not alone both directly and indirectly. All the types of business classes or sizes in the world, small and medium-sized businesses have the largest communities. There are so many people just like you in your position, going through the same trials and tribulations. One benefit to you might be to join a forum or group that specializes in small businesses in the same industry as you’re in. You can talk on message boards online, communicate via social media groups on Facebook and Twitter as well as go to meetups in person. Almost like an unofficial union, these groups can come to your aid in the form of legal advice as small businesses don’t usually have the funds for highly qualified lawyers. You’re also dealing with the government’s rules and regulations and knowing the ins and outs would be to your advantage.
Apart from the exciting journey of dreaming up, starting, and running a business the only thing more exciting are the financial benefits. Having your own business means you’re in charge of how much you earn, and it’s all down to how hard you work and the success that goes along with it. It’s great not having a set annual salary, but this makes a precedent for the rest of your financial activities as a business owner. As nothing is set in stone, it can get complicated to understand and organize your revenue and expenditures. You should consider taking an online course of msc accounting and finance to better understand the roles and function of accounting and finance in a number of business settings, including the for-profit and nonprofit sectors. You don’t need to a have a similar background to take the course in the first place, so it’s great for those looking to avoid hiring a financial advisor and do it their way.
Building a business from the ground up is incredibly exciting and liberating for the soul. But don’t get carried away with a whimsical outlook on life as there are ever-increasing challenges between you and your goals. Striking a good balance between self-reliance and an acceptance of help from others is a fantastic way to keep all the plates spinning.
A lot of people dream about being able to be in charge of a business. After all, what could be better than being able to guide the direction of an entire business and have total control over what happens to it? However, one thing that lot of people tend to forget is that business owners have a lot of pressure and responsibility on their shoulders. If you’re not prepared to handle that kind of thing, then you might not be cut out to own a business at all. The job of the business owners is often to make the tough calls that no one else can manage. If you’re not able to do that, then it can cause a lot of problems for everyone in your business. With that in mind, here are some of the tough calls that every business owner will need to make.
Terminating employees
The idea of having to fire someone is enough to send many people into fits of anxiety. However, it’s a necessary, if unpleasant part of every business owner’s role. Of course, you’re not just going to go around firing people left and right, you need to go through all the right processes of support to help them improve. But sadly, there will be occasions where people don’t take advantages of that support, and you will need to terminate their employment. Just remember to be calm and professional about it. You may also need to develop a thick skin because many people will become upset or angry when this happens.
Where to compromise
Compromise is one of the biggest parts of running any kind of business, and if you’re not able to do so, then you’re almost certainly going to fail. Whether it’s compromising on the number of products that you can ship at any one time or a compromise on the kinds of marketing available to you, being able to balance things carefully in your business is an extremely difficult but completely invaluable skill.
Walking away
There may come a time when your relationship with your business has reached its end, and it’s time to move on to something new. This kind of thing has happened quite publicly with a New Youi boss taking over from the previous CEO who has moved on to a new company. The choice to do something like this is never an easy one, but if you feel as though it’s the best option for both you and the business, then it’s something you have to seriously consider. Just don’t make any rash decisions. Make sure your choice is fully informed and really is the best option for everyone.
This might all sound like a lot of pressure to put on one person, but the key is to make sure that you know exactly what you’re getting into as a business owner. The worst thing you can do is to be unprepared for what will happen. Make sure that you always do your research and know what you’re getting into. Otherwise, you could end up in a position that you really didn’t want to be.
The business world can be as cruel as the animal kingdom. And if you’ve been around long enough, you undoubtedly know that making tough decisions in the office is inevitable at some point. However, there are steps you can take to alleviate the stress of a difficult call –– no matter how intimidating it might seem at first.
Recognize the Unknown
A good leader is not only knowledgeable in their field –– they’re able to understand that they don’t know everything. When faced with a difficult decision, it can be tempting to clam up and isolate yourself. Don’t do this. When you’re facing a problem you’re unfamiliar with, reach out to those who understand it more. For example: say you need to familiarize yourself with immigration laws more thoroughly to develop a modern hiring strategy. In this instance you might want to consult with an h1b lawyer to further understand the issue. Asking for help isn’t a sign of weakness; it’s just the opposite.
Walk Away from the Problem
Literally, take a walk and collect yourself. The movement will be good for you (in more ways than one) and take you out of your usual surroundings. Making difficult decisions relies on being able to see multiple aspects to a situation. So make sure that you don’t just sit in the same physical space the entire time. Consider the issue over a long stretch of time and in various places. It’ll help in the long run.
How Bad Could it Get?
Things could get real hairy if you’re not careful handling a tough decision. That’s why it’s imperative to consider the worst-case scenarios of a given option. If one path has a bevy of potentially detrimental consequences and a small chance of success, you need to take that into consideration. There’s nothing wrong with being a pessimist, sometimes.
Put Emotion Back Into It
You’ve probably heard the phrase, “take your emotions out of the decision.” It seems like sage advice. Considering a problem with an objective, disinterested viewpoint should yield the best result. Right? Well, not always. Chances are, if a decision looks good on paper, but doesn’t sit well with your gut or your heart, there’s something fundamentally wrong with it. That’s not to say you should fly by the seat of your pants and make choices based solely on intuition; however, no matter what you ultimately decide, you have to be able to live with the decision you make. Ensure it doesn’t go against your sensibilities even if it makes sense financially.
There’s always going to be something that goes wrong with your business eventually. Nothing is ever smooth sailing for long, and if you’ve made it this far without any issues, you really do need to expect the unexpected. The thing is with business owners is that they’re so hyper focused on the success they’re having, they really do forget that anything could happen to damage their business at any moment. So, if you take anything from this article, it’s that you really do need to expect the unexpected, and here are somethings that you really might not expect.
If you’re an online based business, you know how important the internet and the connectivity of your systems are. If you’re a big business, just a few moments of downtime can cause absolute chaos for you. In extreme circumstances it can cause you to lose some of your data. If you hold confidential files that your customers have trusted you with then you’re going to have an absolute nightmare on your hands. Luckily for you, there are people that can help you through it, and recover systems and information that might have been lost during the down time. DRaaS providers are excellent at recovering anything you’ve lost. Things go wrong with technology all the time, so you might be better off having things backed up before it does happen. You can set your systems to do daily backups, which is going to be much better than just waiting for the worst to happen.
Employee Lawsuits
Maybe not as common as the systems down section, but it does happen. When it does happen it can have the ability to massively damage your reputation, as well as costing you a lot of money. It can happen for any reason when you breach what is in the contract, or if an employee feels they aren’t being treated right. The hard thing with having a big company is you’ll have lots of little managers working for you. They might be the ones causing the issue, not necessarily you. So it’s important to instill the values you have onto the managers who work on the shop flow. Try and let all staff know that if they have an issue that you’d like to deal with it. It’ll be better than them taking legal actions against your company.
Money Trouble
You’re either going to be ready for this, or you aren’t. Some companies do so well for such a long time, then boom, a massive crush hits their business and they struggle to recover. It really isn’t wise to just assume your cash flow is going to stay high for a long time, so whilst it is high you need to consider putting in the work to get some savings. Obviously, if your profit is high you’re going to be able to put a lot aside. But even if you aren’t reaching a high profit margin you should still be looking to put a little aside each month, just like you would in your personal life.
Your business is going to be like your most precious possession. You’ll look after it at all costs. But the question you need to ask yourself is this, are you actually looking after it at all costs. As the years go on we’re noticing more and more businesses fail. Take the huge crash of Monarch Airlines not so long ago. It just goes to show that however much money a business has, or however well they think they’re doing, there’s always going to be something round the corner that could come along and ruin everything. When you’ve built your business from the ground up, this possibility just isn’t on the cards. You need to make sure you’re putting systems in place that’ll ensure your business, as well as your staff are protected at all costs. When you’re just starting out however, it can be pretty hard to know what to do. You’re so hyperfocused on becoming as successful as possible, that you completely forget what you need to do to protect yourself. But don’t worry, this article is here to give your a few hints and tips on how to protect your business as a whole.
Your staff are your best asset when it comes to your business. They do all the hard work that you just wouldn’t be able to do on your own. Yet it is common for them to feel less protected than they ever have in their life. Through childhood and school etc. they’ve always had someone to fall back on and to help them through difficult situations. The real world doesn’t offer this, and nor do a lot of businesses. But if a business goes bust, these people are going to be left jobless. When you have a family, you know how worrying this prospect is. So there’s a few things you can do that are going to protect their livelihood all the while. The first is maternity leave for the women. A lot of companies offer the worst pay, this causes so much unnecessary stress for the mom. If you’re making a really decent profit, the least you can do is pay a full pay for 6 months of the maternity leave. It’ll make those first 6 months stress free and magical. After that, rather than reducing it by half, reduce it by just a quarter to make sure they aren’t feeling the pinch until the come back to work.
You also need to be thinking about what you can do in the office or warehouse to make a difference to people’s working day. There’s a lot of safety issues in factories and offices that people don’t tend to talk about. But in the long run it can have a really damaging effect on the people that work for you, as well as your business. There’s a statistic that over 100 people injure themselves at work a day. From just the minor cuts and bruises, to the major hospitalisation. As the saying goes, where there’s a claim there’s a blame. If you aren’t putting the right safety procedures in place, you’re looking at receiving such a massive fine for not protecting your staff as your should be. So, if you run a company that involves a lot of manual handling, make sure all the proper training is given, and all the right safety gear is provided at the start of the day. Factory work often requires a lot of loading and unloading, in this case you can use loading dock safety equipment to prevent any injuries. It is one of the most common sites for people to injure themselves. Even if your company doesn’t operate from a factory, offices have just as many hazards. The main being a trip one. They’re the worst for having many different wires hanging down or lying around. One simple trip and a bang of the head and you’re just asking to have a lawsuit on your hand. Not only does it cause trip hazards, it also causes nasty fire ones. Not only will this harm your employees, it’ll also harm your business finances massively with the cost of replacing everything. A simple check of the office to make sure everything is tucked away could save you thousands.
Your Business
Your business as a whole has many ways in which it needs protecting. The first thing you definitely need to do is have some money to fall back on. If any of the above happens, and you’re just getting by with money, it’ll likely see your business crash and burn. Money is everything to your business, from the very start you should be looking for ways to make sure you always have something spare. Having some sort of business insurance is also going to help you along the way, even if it’s just contents insurance if you have your own self managed office or warehouse. Breakins can cause absolute havoc if you don’t have contents insurance. It may cost a little more a month than your average house contents insurance, but it’ll definitely pay off in the long run.
Something a lot of people don’t think to do, especially in the beginning, is trademarking their idea. The business world is unfortunately full of thieves, the last thing you want is your idea being stolen from someone who has the money to make it bigger, quicker. Then you’ll have no hope of getting anywhere with your idea. Trademarking isn’t hard to do, and it’ll definitely pay off in the long run. Plus it does give your business that little extra edge of professionalism that it needs. Just like with your actual brand, people can also steal ideas from your processes, this is why it’s important to always try to keep evolving your business. The new and quicker the processes, the more chances you’re going to have of staying ahead of your competition.
Protecting your staff and business isn’t hard, you just need to make sure you’re doing it from the very beginning if you want to be successful.
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