If you don’t set goals, look at how you can reach them or reach a little bit of success, and then stop, you’re doing yourself and your business a disservice. The most successful business owners look for opportunities to maximize their success, break their own goals and achieve the maximum that their potential lets them.
So what could you be doing to make the most of every opportunity you have - as well as create your own?
You should have two missions in place - one is your personal mission, and the other is your business mission. They will work in sync to make sure that both things are achievable.
But before you manage to work toward a mission, you need to consider what yours really is. When you start your business, your mission will differ from the mission you have 5,10, or 25 years in.
Your mission statement is a short piece of writing that encapsulates what you want in your personal life, career, socially, in the community, and more.
Make yours part of your drive.
Marketing is a 24/7/365 endeavor and one that most small business owners can only handle alone for so long. Suppose your marketing is slipping because there are other commitments in your business, and you are skipping the social posts, not putting PR statements out, or missing out on trade shows awards and more. In that case, it’s time to hand it over to a company that can tackle it for you, like E-Web Marketing.
Marketing is one of the biggest things that can elevate your business to new levels.
When was the last time you learned a new skill that could improve your products or services? Many business owners learn as they go along, which is great because there is not much that can be better than hands-on experience.
However, the more you know about all of the facets of your business, your industry, and how other people are running their businesses, the better you can manage yours.
Learning isn’t always about the credentials you gain from completing courses, but you can use everything you learn, even on short or free courses. Make a list of what you’d like to be better at and other industries that need your business to function.
Perhaps one of the places you are struggling is to get clarity on your future or the future of your business. Many business owners are happy to go with the flow for so long that they don’t realize that they have stagnated.
Once you notice this, you still have time to rectify it. Look for business mentors or coaches that have worked with companies and CEOs like you - and see if you can clear your path to success by talking it through.
Some people will say that if you aren’t making mistakes, you aren’t going forward and aren’t taking risks that could pay off. Staying within your comfort zone will mean you limit yourself and your business to how much it can grow.
Mistakes offer us the best way to learn and grow - so make some, and do better next time.
Part of maximization is making sure that you yourself have been making the most of your time each day; here are some tips for that: Best Ways to Efficiently Manage Your Time.
How To Take Your Company To The Next Level
It is crucial to constantly distinguish yourself from others in a competitive environment. Your experience in business can be harsh if you don't take the necessary actions to stay relevant in your sector. With businesses numbering up to 5.6 million in the UK, this is non-negotiable. How can you determine you are on the right path? It takes a lot of planning to make fundamental changes to your operations. Fortunately, these tips can take your business to the next level.
1. Assess Business Strengths And Weaknesses
One important thing to do when you intend to transform your business is to assess your strengths and weaknesses. This will give an idea of where you stand, and you can Year that information to determine your next steps. According to business transformation experts, entrepreneurs often prioritise things that need to be changed. Unfortunately, this inadvertently takes the focus off other business areas that may be equally important. For instance, if your business strength is your personal and physical relationship with clients, digitising customer service with automation may cause you to lose them. Therefore, you can save automation for other aspects of your business.
2. Focus On The Business’s Curb Appeal
First impressions always make a difference in the minds of clients and customers. And remember that taking your business to the next level involves more than a change in operations. The physical appearance of the workplace also matters. Your mind may go straight to the design of your indoor office space, but it also involves your outdoor area or curb appeal.
However, beyond the aesthetics, it would be in your interest to include functionality in your business’s curb appeal. For example, aside from the well-gravelled grounds for parking, you can consider car park markings to demarcate where your customers must leave their vehicles. This safety feature also involves marking areas where people on your premises can walk without interfering with moving cars on the same compound.
3. Attract A New Type Of Customer And Widen Your Market Base
Taking your business to the next level can lead to improved revenue, and for a business like yours, that involves thinking out of the box. How is this possible in the first place? First, it would be best to consider the prospects of expanding your market base. Who are your current customers? How would you categorise them? For instance, if your business solely serves college students, it may be wise to consider marketing to another audience to increase your income stream.
Before doing that, however, it is important to take measures to retain your current customers. Sometimes, in the bid to establish yourself in other markets, you might lose your existing customers by creating the impression that you no longer serve them. Therefore, creating a customer retention strategy is advisable as you seek to bring in new audiences.
To take your business to the next level, you need to consider the big picture. Focusing on one aspect and leaving another may ultimately create loopholes that defeat the purpose of upgrading.
The last year has been hard for a lot of people and a lot of businesses. Some businesses have closed some of been close to not being able to reopen and others have had to adapt very quickly to make sure they are able to trade throughout the lockdown period. As things start to ease and restrictions start to become less and fewer businesses are taking the opportunity to get back on track and continue to thrive going forward looking forward to a fantastic summer. There are a few different things businesses will need to be doing to make sure that they can continue to grow and keep their customers coming back as well as attracting new ones over the next couple of months.
Cleanliness Is Key
One of the things that a lot of people will be concerned about is the cleanliness and safety of going back into the world and back of the shops and businesses. Showing your employees and your customers That you really care about their safety we’ll encourage them to come back time and time again. What of the things you can do is have a branded hand sanitiser station at the entrance of your shop or office so that when anyone comes into the premises they will now have readily available hand sanitiser as well as potentially a mask station where they can get a mask if they don’t have one and have their temperature checked to make sure that they and everyone else is as safe as can be. It will create a safe workspace in the post-pandemic era. It will also promote good hygiene levels throughout the business as a whole and having a branded hand sanitiser available is now the first point of safety for any business.
Keep Creating Content
Throughout lockdown, a lot of businesses have been trying to improve the digital content in lockdown. If they’ve not been able to trade, keeping active online has been one of the top priorities to make sure that people don’t forget about them. It has also given businesses time to improve the quality and type of content they are posting on their social channels and looking to help increase their following and engagement. Social media is important for any business and post-pandemic is just as important as it can help people decide whether or not they want to go to a particular restaurant or shop as they will look to see if these places are obeying the rules and looking after their customers.
Use Influencers To Your Advantage
Bloggers and influencers are a great way to get your message out to a wide audience and we have as well as getting a trusted and reliable voice to share their views and experiences they have with your business. Using them post-pandemic and while things easing is a great way to showcase the safety measures you’re putting in place to make shopping or working with you is safe and easy I will not put anyone at risk. If you aren’t sure where to start on work and bloggers or influences there are loads of agencies that have databases full of people who are great to work with.
Corporate events are a fantastic way for businesses to connect with customers and clients. They can range in size and scale, be formal and informal - making a nice change from your business’ day to day work.
But as corporate events can cost a lot of money, you need to make sure that the corporate events planned by you are effective and successful. Effective planning is a must to ensure the smooth running of your event, and if you want to know more about planning successful corporate events, you’ve come to the right place.
Here are some tips to help you make a success of your corporate events.
Set clear aims and objectives
Corporate events should have aims and objectives to help them deliver something for your business. From generating interest in a new product or service, to encouraging new business from clients, you should have a clear idea about what your event is setting out to achieve.
Focusing on why you’re having an event and what you’d like the outcome to be will guide your planning to help you deliver the most appropriate type of event.
Be meticulous with your planning
Planning a corporate event is no easy task. Having detailed plans in place will help you to cover all the key elements such as your venue, catering, entertainment, etc. It can help to work backwards from the date of the event to ensure you have key dates in place to engage with suppliers and secure confirmations.
Working from a checklist can be an effective way of planning your event, while corporate events planners can be very useful for arranging large-scale events.
Think of new and exciting ideas
How can you make your next corporate event different to the rest? If you want to make an impression on your guests and secure a positive outcome for your business, then thinking of new and exciting ideas can set you apart. There are all kinds of corporate events ideas you can use to connect with different types of audiences, helping to make a lasting impression. Use each event as an opportunity to try something different to stop your events becoming stale and uninspiring.
Connect with your guests after the event
Following up with guests after the event is important for your business. It can help drive sales and interest in your business, and keeps your business on their radar. Investing in branded merchandise for corporate events can make sure guests take something away with your name on, while follow-up communications to thank attendees for coming can add a more personal touch.
Be ready with your email marketing strategy to follow up with attendees to help generate new leads even after the event has ended.
Corporate events can give your business some great results, helping you connect with customers and clients in a way that’s not possible through other communications channels. The right planning can help you make a success of your next event, ready to help your business make a lasting impression.
An essential part of making any business more efficient is taking a look at your budget and seeing where you’re spending too much money. There are a lot of potential problem children to deal with here but a common trend amongst businesses that use company cars is that they can often spend way too much on them. Here, we’re going to look at how you can cut the costs while keeping the wheels your business needs.
Reconsider your ownership
First of all, you should take a look at your roster of cars and consider selling any that don’t get driven as often. You should only keep as many as you need on the regular. However, you should also consider different ownership structures like contract hire and leasing if they could be more cost-effective than buying the cars outright.
Help drivers drive more efficiently
You could potentially be saving a lot of money on fuel costs. You can, for instance, swap your existing cars for more fuel-efficient models, as well as buying fuel cards that can help you top up more cost-effectively. You can also teach drivers to lose bad driving habits, such as speeding, idling, and braking too hard, all of which can reduce the fuel efficiency of a car, meaning you’re spending more on them.
Take care of the cars
If you fail to maintain your vehicles properly, you’re going to be paying for repairs and replacements more often. It’s most cost-effective to pay a little for the right servicing, but make sure you got the right team to help you keep on top of your cars. If you have a fleet of BMWs, you should have BMW specialists servicing them. Work with those who know the specific cars that you’re driving and they’re more likely to help you avoid the types of malfunctions most likely to affect those cars in particular.
Utilize the right tech
If you’re running a fleet of delivery vehicles, then effective routing to get to A to B matters. Cutting journeys times not only helps you save against fuel costs and wear and tear; it also enables you to potentially fit more stops into every trip. Take a closer look at some of the telematics systems out there that allow you to more efficiently route your vehicles.
Mind your insurance costs
Be mindful when you’re shopping for vehicle insurance, that business vehicle insurance can be more expensive, especially if more than one person is driving the car. As such, it pays to take time to compare different insurance offers. If you have several company cars, then you should look at fleet insurance instead. Make sure that you are deducting insurance costs and other vehicle costs from your business taxes, as well. It’s easy to miss this.
Take a good look at your company cars, ask if you need them and, if you do, ask how you can cut the costs of them both in the short-term and the long-term. The tips above can help you find some answers.
We all have days when things don't look like they're going to work. Days when the sky is falling, and the universe is punishing you.
The day that feels like a fluke is the day that you have to stop, pause and re-evaluate the plan of attack. If the day didn't feel like a fluke, then you are in no position to make changes to improve your prospects.
As a solo entrepreneur, the fluke will always be fluke. However, it is a sign that you are approaching a place where you can start tweaking and changing the way you do things.
The one thing that you must be able to do is to look at your current plan and ask yourself, "is this still a viable plan?" If the answer is no, then re-consider your options.
If you are alone, then you must make yourself a Board Room. For those of you who don't know what a Board Room is, they are an expert witness (kind of like an attorney, except they sit on the Jury). It is a small room with comfortable leather chairs, where you sit across from the expert witness and ask him/her questions.
In essence, the Board Room allows you to get a third person, a neutral third party, to look at your case, objectively, as if you are sitting across from a judge.
At the end of the Board Room presentation, you will have learned all you could from your presentation in an environment where you were able to ask intelligent follow-up questions.
This may not be the answer you were looking for, but it is the answer you need to get you back on track.
So, ask yourself: do I have a plan? If you don't, why not? If you do, is it viable? Can I afford to take the risk? And then, ask yourself: will this plan change if I have a Board Room?
If you want to start a business, you’re going to need to find a way to get into that entrepreneurial mindset. Getting into the right mindset is key, whatever it is you want to do. Any great business owner will tell you the same thing. If you’re not sure that you’re in the right mindset yet, below you’ll find some pointers that will help you get into the entrepreneurial mindset in no time. Read on and see what you can do:
1. Find Mentors
Find mentors who can inspire you. How do they act? How do they think? You may not be able to pick up on it all right away, but continuously trying to learn from them can help you to adjust your own actions and mindset. They can be people you know in real life who you admire, or people like Tony Robbins. You don’t need to spend a fortune to go to their seminars, unless you really want to. Reading up on their free material and watching their talks online can help you in a myriad of ways, and it won’t cost you anything.
2. Read Books
The more books you can read on the subject, the better. Of course, some will resonate with you more than others. Try to read at least one book per month so that at the end of each year you have gotten through 12 books that have helped you to expand your mind. Books like Think and Grow Rich and Automic Habits are amazing places to start.
3. Get Clear on Who You Need To Be
Your self image can have a lot to do with how easily you are able to get into ‘entrepreneurial mode’. You can do lots of reading and learning, but if you don’t change your self image, you’re unlikely to actually get to where you need to be. So, get clear on who you need to be to achieve your dreams. What do you need to believe? Who do you need to spend time with? How do you spend your days? Really immerse yourself in this new vision of yourself and then try to become that version of yourself each day. Soon, you won’t need to try and your goals will come to you far more effortlessly.
4. Set SMART Goals
Setting vague goals rarely helps anybody. Setting SMART goals can help to give you goals that you can actually measure. SMART goals are specific, measurable, attainable, relevant, and time bound. This way, you know exactly what you must do, can see whether you’re getting to where you want to be, and have a deadline to keep you focused.
5. Work on Your Limiting Beliefs
Limiting beliefs are often deeply ingrained in our subconscious, and play a huge part in how we act and what we believe we can achieve. In a way, it ties in with our own self image. Figure out what you believe deep down. You may consciously believe you can be a business owner, but what about subconsciously? If you don’t think you’re smart or cunning deep down, then you may not get to where you want to be. Get to know yourself inside out.
6. Figure Out Your Budget
A budget will help you to see what you need to focus on when you get started. You’ll also be able to approach suppliers and start building relationships with them, which can further help you get into the right mindset. Whether you’re looking at a company to provide a carbon steel butt weld or a company to outsource your accounting to, make sure you consider this carefully. You will need to be frugal with your budget to begin with.
7. Stop Being Self Centred
A good business owner in this day and age is always people-focused. This means remaining focused on both your customers and your team. It’s time to stop thinking about yourself and how you can benefit and instead think about how you can provide value to the people around you. This is what makes an effective business that can stand the test of time.
8. See Failure As A Step Towards Success
Failure doesn’t need to be the boogeyman of business. It can teach you so much about what works and what doesn’t, and should be looked at as a valuable lesson. You aren't going to make it through life without making a few mistakes. Make sure you appreciate these mistakes and learn from them. Don’t dwell on them!
9. Always Keep Your ‘Why’ In Mind
Entrepreneurs have a very clear idea of what their ‘why’ is and what they would like to achieve. If you forget your ‘why’ or your personal mission, you could easily fall out of your entrepreneurial mindset. Before making any decision, remind yourself of your why. Write it down so you can see it every day. Making sure you keep it in mind will inform you in many positive ways.
10. Stay Flexible
Flexibility is key as an entrepreneur, too. You might be able to get into the right mindset fast, but that mindset might not benefit you forever. Things are changing, across all industries, and they are changing faster than ever. Make sure you’re always prepared to learn and do new things, whatever it takes to be successful. A flexible attitude and way of working is a must in 2021 and beyond, so don’t allow rigid thinking or an inflexible way of running your business.
Getting into the entrepreneurial mindset fast might not seem possible to some, but with determination and SMART goals on your side, you should be able to do it in a week or less. This doesn’t mean you’ll never need to work on your mindset again, just that you’ll be in a much better place to start your business venture. It could even be worth changing your idea of what ‘entrepreneur’ means. It doesn’t have to mean a suit wearing, fast decision making, cut throat person who is cut off from their emotions. Anybody can start a business in this day and age!
I've been working with online entrepreneurs for well over a decade now and in that time (and especially during this time) I have learned many interesting lessons and tips of the trade. One of those lessons is the power of having a vision for your business growth and success.
Many of us would much rather "wait and see" what happens than take steps toward our dreams... especially when they're small (like building your own website) and grand (like taking your business from the comfort of home to millions of people looking at your site everyday).
In this day and age where there is more information than ever before, you would think that we would rather listen to someone who can show us HOW to build our business and what tools and resources we need but the sad truth is that too many entrepreneurs listen to someone who has all the knowledge... and quit when they discover that they don't know how to do what they want.
One other very important factor in getting your business started, is having a mentor.
This is not just any old mentor though; in my experience you want someone who has done exactly what you want to do, and exactly how you want to do it... so they will be your sounding board as you learn the skills necessary to get your dream of building your business... going from a hobby into a profitable business.
You want a mentor who knows exactly how your business should sound, and exactly how you can get to that point.
You want a mentor who knows exactly which tools and resources will be the best for your business.
You are going to spend many, many hours working with your mentor and we don't want to find out that the skills and techniques we invest in during our time with them is not what is needed... and you're going to be frustrated because you spent too much time with the wrong tool or technique.
So make sure there is someone who lives your dream as much as you do and has gone beyond what you thought was possible! So many entrepreneurs waste their precious time in an effort to "perfect" their business instead of concentrating on creating a business that can flourish without them.
And you don't need to spend a fortune to get yourself a great mentor... one of my all time fave's are Mike Friesen (author of "Rich Dad" series) and Jim Collins (author of Bestseller... "Lights Out")
These guys are great teachers because they get you working in their business day in day out, not just a one time course where you leave feeling like you've got it all under control.
5. Your passion - what really drives you to become a successful entrepreneur.
I want to tell you about a friend of mine who wanted to be an entrepreneur so bad that he would do anything to achieve that dream. And you know what, he's become one... as well as many other entrepreneurs we know. So his passion is real, it's not just something he creates to earn some extra cash.
There should be something you absolutely love and then there should be something that drives you to become an entrepreneur. Like wanting to do something that is beneficial to everyone and something that gives you a rush just thinking about it, getting you excited and ready to take on the world.
That way you'll get through the first 5 steps easily and then you'll be able to focus on achieving your dreams in the third step.
Now get going and create your business today!
Are you exploring new ways to grow your business and strengthen your brand? If so, then you should think about the best ways to use the power of your clients and customers. These are a few of the possibilities that we strongly recommend you consider.
Use Their Opinions
First, you should think about whether you can use the opinions and thoughts of your customers. They might be able to explain to you the best ways to move forward with your business. Don’t forget, when you’re looking to improve your company it’s important to move in directions that your customers want to see. No one knows what directions these are more than your customers themselves. You might think that customers aren’t going, to be honest when you interact with them. While this might be the case, there are ways to skirt around this issue, such as by using Mystery Shopping experiences. Here customers get a product to review but don’t know what the brand is and deliver honest feedback.
Use Their Content
Next, you should think about whether you can use content from customers to your advantage. User-generated content can be helpful because it allows you to connect with that individual customer. It will also help you reach their followers. Don’t forget, that customers are far more likely to trust the word of other clients rather than your brand. User-generated content also makes your business seem more accessible and that’s always going to provide a tremendous benefit.
Use Their Reviews
Next, you should think about using reviews in your business. Do note that a mixture of positive and negative reviews is far better than zero reviews for your business online. That’s why you should make sure that you are encouraging customers to leave reviews. You should do this after the completion of a sale. Business owners often assume that it’s going to be difficult to get customers to leave reviews. However, this is not the case. The reality is that they will drop reviews if you ask the right way and provide some client aftercare instead of just abandoning them once a sale is complete.
Use Their Reach
Finally, you might also want to consider using their reach to gain more customers and clients for your business. One of the best ways to do this is through promotional merchandise. The right sponsored merch will be worn and used by your clients. This means that they can effortlessly spread the word about your business. You just need to spend a little time ensuring that the merch is attractive and stylish enough that clients want to use it. You might even want to consider using popular brand items to promote your company in this way such as Nike or Adidas sportswear.
We hope this helps you understand some of the key ways that you can use your customers and clients to your advantage. By taking the right steps here, you’ll find that your customers can become your strongest asset and help you grow your business, even in a short period.
If you want to survive and help your business to grow, then you need to make sure that you have a steady stream of business clients. In the old days, this was a case of you simply sending out a flyer or even a postcard. You might have even been able to put your ad in a local paper, but right now, things work very differently. You have to make sure that you adapt to what is around you and you also need to make sure that you are willing to figure out the best way to really get your business on the map. If you don’t then you may find that you end up struggling to get noticed and this is the last thing that you need.
Verify Google Business
If you are running a B2B business, then you have to make sure that you are as professional as the companies you are marketing to. Your Google Business Profile is what gives your business the opportunity to show up in search results. It also shows up when someone types in your company name on the internet. Google is getting better at catering to users all the time and this free listing should always be your top priority. Ideally, you would use your business profile to promote your company, not to mention that it also helps to verify legitimacy. You can do this through your very own Google My Business account. When you are able to verify ownership of your company, you can then optimise your listing. This will help you to show up much higher in the search results and it will give you access to much more advertising options. If you are able to show on Google Maps, then this will help you to really make the most out of your local SEO efforts.
Print Leaflets and Flyers
You may think that this is a very outdated way for you to do business, but this is not the case at all. In fact, printing leaflets and flyers is actually a fantastic way for you to make the most out of your marketing campaign, if you combine it with your other efforts. If you are going down the flyer route then you have to make sure that you incorporate your website and you also need to make sure that you add plenty of digital information. This could include your social media handle, for example. If you want to make the most out of your marketing, then it would be wise for you to use large format printing machines.
It’s one thing for you to promote your company, but it is another for Google to promote your company. SEO will ultimately determine your ranking algorithm, so you have to make sure that you put in the work to boost your ranking. If you want to boost your SEO, then you need to add relevant keywords that are based on your location as well as your industry. You also need to make sure that you add them to specific places on your site too. At the end of the day, if you can produce high-quality content with tagged images then this will help you out in the long run and it will also help you to maintain a solid site that brings in business for years to come.
The COVID-19 pandemic posed a significant challenge for businesses and economies globally, prompting business closures and labor cuts in 2020. The pandemic wasn't all doom and gloom however, as some sectors and industry recorded significant growth in their operations. Statistics showed that the ecommerce industry is booming daily and expected to reach $6.54 trillion by 2022. However, the industry is continuously evolving and requires you to stay updated with the latest trends to gain more traction, drive traffic and convert into buying consumers. Take a look at the top five ecommerce trends you should expect in 2021.
1. Brands will partner with influencers
This has been a key trend in recent years as ecommerce platforms are falling on influencers to reach their vast followers. The influencer marketing industry is becoming a significant boom for ecommerce brands, and it's projected to hit $9.7 billion in 2020. Do you know why? Experts have indicated that brands have a content creation problem since they cannot create enough marketing content to match their marketing strategies. In 2021, they’ll be looking to partner with influencers to support their content creation process, likely in the form of a content agency. Additionally, we'll see ecommerce brands include paid media spending to enhance their audience reach.
2. Video ads on social media.
Last year, there was a significant increase in social media usage, and those numbers aren’t going to slow down in 2021. According to statistics, social media recorded more than 3.6 billion users in 2020, a figure expected to hit 4.41 billion by 2025. With the current trend, several brands have begun to utilize the story features on platforms like TikTok, Instagram, and Snapchat to promote their products and services. The next stage will be the advancement of social media trading. Last year, we witnessed Facebook launch Instagram shops while Shopify partnered with TikTok. This year, we'll see how brands can manage these changes. However, for a D2D brand, you can record videos of your highest performing items and post them on social media platforms where you can discover your most targeted audience.
3. New payment options
Many customers use the availability of payment options to choose between brands they deal with. Failure to offer a customer's preferred payment option means they'll have to look to another ecommerce store. Apart from the acceptance of smartcards by ecommerce shops as payment methods, there are several existing payment platforms like PayPal, Apple, or Samsung Pay, and Inoviopay. However, with the low exchange cost and inability to reverse transactions associated with cryptocurrencies like bitcoin, many online shops will now be looking to accept it as payment options in 2021.
4. Voice commerce will grow
Individuals are progressively depending on voice assistance gadgets like the Amazon Echo with Alexa and Google Assistant to do just about everything, from serving as alarms and reminders to making purchases on the internet. A survey has proposed that an estimated 75% of U.S. families will own a smart speaker by 2025. Meanwhile, voice trade deals are projected to reach $40 billion by 2022. Another motivation behind the rising voice commerce trading is the accuracy and ease of innovation. Both Amazon and Google are pushing local languages in their virtual assistance programs to enhance shopping experiences.
In conclusion, there’ll be several businesses hoping to rule the ecommerce market, which is why you should adopt these new trends as early as possible if you want your business company to thrive in 2021. Marketplaces, voice commerce, and artificial intelligence will be standard, while an increasing number of online businesses will begin accepting crypto payments to allure more clients to their brand.
We all want to work less and earn more, don’t we? It’s the dream, the final step towards that ever-elusive ‘work/life balance.’ And yet, until now, most of us have assumed that it’s a myth. After all, you get out what you put in – everyone knows that!
Unless maybe you don’t. According to recent reports, US workers who put in as many as 60 hours each week were less likely than their peers to have received a bonus in the last three years.
Far from being an injustice, this is clear evidence that you don’t have to work yourself into the ground to get ahead. In fact, doing so could be hindering your earnings, and here’s why.
A focus on quantity not quality
When we push ourselves too far to be productive, we fall into a focus on quantity rather than quality. After all, a sixty-hour workweek might sound impressive, but there’s no way you can produce good work for that length of time. Rather, you’re liable to work like a sleep-deprived zombie trudging towards a deadline. And, your efforts will be as flat as your pulse!
By comparison, employees who stick to the forty-hour standard may well come in and boss it on the quality front, meaning that their shorter timeframe is worth more than your long one. Which begs the question, why would you bother to work more in the first place?
An inability to hand over responsibility
If you’re too focused on being the hardest working, then you’re more likely to take everything on your shoulders. This may seem like a valiant effort, but martyrdom is never good. If you’re juggling product development on top of lead generation, you’re more liable to wear yourself down and drop both balls.
By comparison, outsourcing allows you to hone your time, and clock off at a decent hour. All with the promise of better results. After all, outsourcing managed IT means that you can get cybersecurity right at last while turning to a lead generation company ensures that time you spend converting is time well spent. Far from a failure, accepting that you can’t do it all is fundamental to making the most possible money from your time.
Failure to see straight
It’s also worth noting that, the more you work, the less you can see simple solutions to challenges. And, when this happens, you spend more time developing less satisfactory responses.
Switching your brain off sometimes is the ideal way to solve production dilemmas or close leads at last. Much like when we’re falling asleep, our brains often find answers to these things themselves when left to their devices. By comparison, hunching over a desk and considering things for too long will make it trickier for you to reach satisfactory conclusions, as well as taking ever more of that precious time.
So, you see, it may sound impressive when you state you’ve worked a sixty-hour week, but is it really the right way to earn more? Probably not.
With that in mind, below is a guide to some of the key factors that you should know when it comes to going remote with your business. Read on for everything that you need to know.
A well-designed website is crucial
If you are going to successfully take your business remote, the most crucial thing that you need is a smart, well-designed, professional website. Think of your website like the hub of your business, without a carefully designed website, your business has nowhere to run from. That’s why it’s worth taking the time to source a website designer who is able to create you a smart, stylish, and well-designed site that offers everything that you need your site to offer. Not sure what your site should include? Consider checking out what your competitors’ websites offer.
IT support is a must
When you’re running a business virtually, your website and online presence is the hub of your business. This means that if your systems or site end up going down, you could be left with a business that is unable to run. As every business owner knows, downtime is never a good thing for a business, which is why it’s so vital that you have adequate IT support in place. You can find plenty of IT support for SMEs online, it’s just a case of finding the support that is the right fit for you, your business and your budget.
Hone your marketing strategy
To ensure that your remote business sees as much success as possible, it’s vital that you take steps to properly hone your marketing strategy. Even with the most amazing product or service in the world, if no one knows about it, you are going to struggle to see success. That’s where having a well-thought out marketing strategy comes into play. If you’re going to make a success of your business, you need to ensure that you’re properly marketing your services.
Going remote can be a fantastic way to reduce business costs and make running your business simpler and easier. There’s a lot to think about when it comes to running your business from home, but it doesn’t have to be too overwhelming, it’s just a case of thinking the process carefully through, that’s all.
It makes information more digestible
Learning skills is in human nature. We need to learn skills to grow, develop and adjust from a young age. However, it seems counterintuitive to learn all your skills from a set of books. Indeed, young children learn through practice and copying the adults around them. It would be foolish to assume that people change their approach when they grow older. Mimicking gestures and processes is an innate mechanism. Consequently, compiling information in a format that focuses on the copying part of the learning process can facilitate skills acquisition. The adult education sector can partner with a professional video production company to turn reading materials into videos. Concepts are more easily digestible and approachable when they are shown rather than read, which can speed up learning for adults. Similarly, when showing isn’t an option, telling remains a valuable tool. Let’s not forget that people grew up in a storytelling environment before books existed. As such, podcasts are a suitable alternative to videos.
It brings new incentives
Modern classrooms have been using gamification with their students of all ages. For children, gamification used to be in the form of a physical reward, such as a star or a small present, to mark successes. Nowadays, teachers rely on virtual rewards, using apps to allocate points, badges, and creative avatars. Gamification apps can be equally effective for adults, as they provide a new sense of motivation. Don’t we all want to win? Earning badges and points can encourage adults to prolong learning sessions and memorise new knowledge quicker and better.
Knowledge is always available
How did school go for you?
As a child, you needed to revise your book-based lessons before a test. As an adult, the same principle may not be suitable for your day-to-day life. Ultimately, it’s hard to make time for learning when you’ve got to manage work and a household. Consequently, digital tech makes knowledge accessible whenever and wherever you need it, whether you want to listen to the latest school podcasts during your commute or use the app to refresh your memory. Digitalising knowledge adds flexibility.
In a world where remote teaching has become the new normal, it’s essential to maintain the technology even after turning the covid page. Digital technology makes learning more manageable for millions of adults who need to upskill. Whether they want to integrate into a new culture or boost their career progression, digital teaching makes their goal possible.
When your business is operating at maximum efficiency levels, your productivity should increase naturally. As a result, you can boost your company’s profitability by enhancing efficiency at every level. However, finding the most effective ways to improve your efficiency can be tricky. To give your business the best chance of success in 2021, take a look at these top tips for maximizing efficiency now:
Set Firm Goals
Unless you have clear goals in place, you won’t be able to monitor or optimize your efficiency levels. When you know what you’re working towards, you’re able to implement effective strategies that will help you to achieve your targets in the quickest timeframe. By using SMART goals, for example, you can ensure that your business targets are specific, measurable, achievable, time-bound, and realistic.
When you automate business functions, you can reduce the amount of time it tasks for tasks to be completed. In addition to this, increased automation eradicates potential inaccuracies caused by human errors and reduces the need for staff, thus reducing your costs.
People tend to assume that automation is only relevant in specific industries, such as manufacturing, but this isn’t the case at all. Every business can benefit from implementing automated processes, regardless of what sector you operate in. From invoicing and marketing to customer service and quality control, there are numerous ways you can increase automation within your business.
If you aren’t outsourcing already, it’s time to start. When you outsource certain tasks or functions, you can operate more efficiently. Outsourcing gives you access to specialist expertise that you don’t have in-house, but it also enables your core staff to focus on their main roles. By taking advantage of outsourcing opportunities, you can also minimize the need for full-time, in-house staff, which can enable you to operate with fewer outgoings.
There are plenty of ways to incorporate outsourcing into your business model. Using third-party managed IT services or professional translation services is a form of outsourcing, for example. Similarly, working with an SEO agency or a content production company enables you to outsource important business functions and improve your efficiency levels.
When your To-Do list is getting longer by the minute, don not simply work through it starting at the top. Instead, grade tasks based on how important and time-sensitive they are. By doing so, you can tackle the high-value tasks first and leave the less important issues until last. Using scheduling software or a task management platform is a good way to plan your working day, as it enables you to modify your schedule quickly and grade tasks according to their priority.
Becoming More Efficient
People tend to assume that maximizing efficiency means working harder but it doesn’t have to. By altering the way you work, you can significantly increase your efficiency and productivity, without working harder. In fact, you might find that making modifications to how you work allows you to reduce your working hours while still boosting your efficiency levels!
It goes without saying that in order for a business to attract more customers, continue to grow, and make more profit, they obviously need to devise an effective marketing campaign. This is something which is even more important when one considers the state of the economy around the world at present. Businesses don’t have as much money to spend; therefore, it is crucial to get their advertising plan right the first time around. Moreover, people don’t have much money to spend and therefore marketing methods need to be even cleverer and well thought through.
Sadly, there is no magic formula and essentially whether a strategy will work or not all depends on the business in question. Every method in the book needs to be taken, adapted and edited in order to suit the company. The best idea is to go for something which seems to be successful across a lot of businesses and industries. There are not a lot of options which actually boast this desirable quality. Nevertheless, one that does is the utilisation of promotional products. This is basically where a company chooses to produce products with their name printed on, they then distribute these as gifts to potential consumers.
The key to the success of this strategy all lies within what product is chosen. There are lots of different items a business can choose from however one which seems to have a whole host of advantages to its name is the use of promotional bags. This blog post will reveal what the benefits linked to this product in particular are.
The first reason is that promotional bags are relatively cheap to produce and distribute, especially in relation to some of the other promotional products which a company can choose from. In fact, custom made bags are something which has decreased in price significantly as of late, especially when buying in bulk. It is important how crucial it is to highlight the fact that choosing a low-cost product is pivotal at present due to the recession and the need to have a strategy which is as low risk as it can possibly be.
Another reason for choosing promotional bags is that it will add to the credibility of the company. This is because more and more people are caring about the environment and wanting to look after their planet. If they see that a company is distributing reusable bags then the company will go up in their estimations and they will feel more inclined to use it.
Plus, reusable bags are great for exhibitions. If you’ve been looking at marquees for a promotional event or trade show, giving out a reusable branded bag can help people to keep all of their advertising gifts and brochures in one place while also advertising your business.
A final and highly important point to note is that this is an item which has massive scope for potential. At the end of the day, if an individual uses their bag to go shopping then there is no telling how many people they will pass and thus how many people will see the details of the company in question.
At the end of the day, it is really not hard to see why so many individuals are choosing to implement a strategy based around promotional bags.
When it comes to your business, you should always be thinking about how you can improve it. This is going to mean that you take it to the next level as and when it is required. But, how do you do this? Well, we’re sure that you’ve done it before unless your company is relatively new, but things are a little bit different with the circumstances that we are in right now. In this article though, we are going to be taking a look at some of the requirements when taking your business to the next level. If you would like to find out more about this, keep reading down below.
The Best Employees
The first thing that you are going to need is the best employees. You are going to need people who are willing to dedicate their time to helping you build your business up, and if you don’t have that right now this is going to be a problem. Your business is made up of many different parts, but your employees are a vital one and you are never going to be any better than your worst employee. Everyone needs to be working hard and continually doing everything in their power to get you where you need to be on the market.
If you think that someone isn’t pulling their weight, you have two options. First, you can talk to them, see what the issue is and if there is anything that you can do to help. If this doesn’t work, then the only option you have left is to replace them with someone who will give your business everything that they have professionally.
The Right Product
Another thing that you’re going to need is the right product. You need to have demand for whatever you are selling, and you need to make sure that you’ve got everything you need to provide it. For example, if your business sells evaporative condensers, you need to make sure you’ve got a market for them. When you find it, you need to market heavily in their direction to let them know that you have what they need. If there isn’t any demand, then we suggest you find a way to generate some sooner rather than later
The Right Idea
Finally, you’ve got to have the right idea. When you’re moving your business forward, there is always going to be an idea in mind, and it’s got to be a good one. Without one of these, you aren’t going to have any hope of getting where you are headed. Take your time coming up with your plan of action so that you know it’s the best possible path for your business.
We hope that you have found this article helpful, and now see some of the things that are required when it comes to taking your business to the next level. It is only going to be as complicated as you make it, but if you take your time and give it everything you’ve got, you’re going to be just fine. We wish you the best of luck.
Many people dream of starting their own business, they want to work for themselves, they have a great idea that they know people would use or want and they want to make loads of money for themselves without having to give it to someone else. If you’re one of these people who dream of starting your own business, then what is it that is stopping you?
The answer is nothing, and while you might be able to think up plenty of excuses to keep putting it off, in reality, the only thing that is stopping you from achieving your dream is you. If this year has taught us anything it is that life is short and you never know what is around the corner. Who could have predicted that 2020 would be spent mostly in lockdown, social distancing, unable to travel and in fear of a failing economy? It sounds like a disastrous time to start a business but in fact, this pandemic is not an excuse and is as good a time as any to start your business.
You have the time
One of the biggest reasons people give for not following their dreams or one of the things that people complain they never have enough of is time. But this pandemic has given us time. Whether you have been laid off, furloughed, working from home or carrying on your job as normal, it has still meant that there has been less to do and far more time spent in the house. While it looks like there is the hope of a vaccine now, it doesn’t mean the pandemic is over so if there are more lockdowns then perhaps it's time to use them wisely to work on your business.
You have the resources
The other thing available right now is a talent as well as other businesses who need work. For example, there are small business owners who could help you out, from electricians to logistics consultants, there are people ready and waiting to get their teeth stuck into something good and help you get your business off the ground. There are also so many talented people who have lost their jobs and are looking for work and could be an asset to your business.
There is a demand
While the world has changed significantly and some things are no longer as important as they once were, on the other hand, there are things such as face masks, PPE, virtual meetings and deliveries which have never been so popular. If your business can help to meet the demand that the pandemic has caused then it's the perfect time to start.
You can adapt
The great thing about starting your business now is that you can adapt to the new world straight away. You won’t need to make changes as you can have the restrictions and guidelines in place from the off. Your business can be something that doesn't just exist in a post-covid world but can thrive and help people adapt to a new way of living.
Running a successful marketing campaign is defined by quite a few parameters. Length, breadth, growth, etc., which are all extremely variable. And in the modern day and age, it seems easier than ever to get a successful marketing campaign off the ground. After all, there’s a lot you can do with just an internet connection and a platform to make good use of!
So who knows when you’re going to hit success with your brand?! But even with your relative prowess in the digital world, is your marketing campaign running as smoothly as you want it to? And if it isn’t, even when you’ve tried to up the ante and your efforts, are you sure that your marketing campaign truly suits you? Let’s go through a few points below to double check.
It Depends on What You’re Aiming For
Of course, what you’re aiming for in your business is always going to be at the crux of how you run a marketing campaign. You need to know, ahead of time, what you want out of the period ahead, and what success is going to look like when it’s finished running.
Will it mean plenty of inbound visitors? Will it mean ranking at the top of a search engine? Will it mean running a lengthy content campaign, to really build up a log of articles to ensure that SEO strategy really goes off? Simply put, to ensure your marketing campaign suits you, decide what you want before you put anything in place.
It Depends on the Type of Business
The type of business you’re running should always dictate how you set up your advertising efforts. For example, let’s say you’ve just started up a law practice of your own. How are you going to attract people to your business? Running ads on Facebook pages alone won’t score success here, unlike in an ecommerce business, so you’re going to need specialised services in the form of something like Elite Lawyer Management.
Some business leaders just aren’t cut out for running communications as well, simply because they didn’t train this way, and that’s important to remember. At the same time, dipping in and out of various marketing efforts could be a waste of time and money, and in the early stages of establishing your business in the market, this could spell very bad news for you.
It Depends Who You’re Trying to Reach
Finally, you need to think about your audience as well. Who are you trying to reach? Where are they? What do they need from the market you’re within? All three of these questions need to determine how your marketing campaign is set up and run, to ensure it entirely suits you. When you can imagine your average customer, you’ll have something to design content around, and that’ll give you a real launch pad.
A marketing campaign needs to be entirely your own; make sure you know what you’re doing, who you’re reaching, and who you are.
If you are a business owner, you surely start the day with a question: how can I do more? Of course, what we want is not to work longer hours and end up affecting our personal lives, but to be more effective with the resources and talents we have. Productivity has not only an impact on the objectives we reach and performance of our business, but also our stress levels. So what is it that we can do to work better? Here we share some tips that you can apply from tomorrow onwards.
Plan each workday
Before leaving the office, review your schedule and set your to-do list for the next day. Determine which are the priorities, give them a schedule and be realistic about the time available. It is better to move slowly and steadily than to remain stuck in the same place. Look at what is going wrong in the office and if things need to be changed. Many businesses fail to see things that are going wrong. So whether it's talking about updates to your technology or being more productive with your energy, there are things to think about. Perhaps you need to look at upgrading your Fuel Tanks, or maybe you need to change your phone systems, planning what needs to be changed will make things more productive.
Multitasking is a myth, and we can't all be good at everything. Some studies show how this way of working can reduce productivity by up to 40%. In small and even medium-sized businesses, it is very common for one or more people to do tasks of a very different nature throughout the day. Still, it can become a risk to productivity if not properly addressed. Focusing on specific objectives is a sure way to increase the productivity of your company. Have your team delegate.
With constant meetings, social media, and instant messaging, it's hard to stay focused for more than half an hour on a single task. To avoid distractions, establish work blocks and respect them as if it were the presentation to your most important client. Move your smartphone away from your desk or silence alerts from applications such as social media. And if you are working on something very important, let your team know that you cannot be disturbed unless it is an emergency.
Forget about repetitive tasks.
One of the biggest challenges is repetitive, time-consuming jobs that distract you and your employees from those that are much more important to the business, like selling products and winning customers. An example of finances, and it is that recording or controlling all invoices, expenses, or payments is a task in itself. The better you look after your finances, the more chance you have of being able to put money into other areas, such as social media. To make your life as an entrepreneur easier, you need to tackle such routine tasks to increase productivity properly. There are dozens of ways to save time and gain productivity in the short and medium-term, such as direct debit of payments to suppliers in a bank account and even immediate payment with a company card.
In an age where we have unlimited access to pretty much everything you can imagine, it’s easy to become tempted to learn as much as possible.
Maybe you feel as though becoming an expert in many fields will benefit your career or business prospects? And in some ways, you’re not wrong to think that- having knowledge in several areas will set you aside from the crowd as well as giving you the personal gratification of learning something new.
However, there are several reasons why it’s often good, and not self-limiting to become a hyper specialist.
Here are some of them..
You get to become an expert in your field
One of the best reasons to focus on one or two areas of expertise is that the more you invest in your knowledge the better.
Imagine if an athlete decided that they wanted to spread themselves across more areas of the athletics industry. They decided they want to train, coach, advertise sporting events, and run the ticket desk, too. While all of these things are jobs that are related to the athletics field, the more this athlete does that will take them away from their training and participation in events, the less time and energy they have to focus on the things that set them apart from the others.
It’s the same if you’re in marketing. You decide you also want to try your hand at the web design, content writing, accounts, and sales as well. You’ll be spreading yourself too thinly and potentially missing out on some key aspects of the ever-evolving world of marketing. Staying focused on this one area will mean you get to invest all of your energy in becoming the best.
You can offer something unique
Imagine you’re at a restaurant and the server gives you a 10 page menu to choose your meal from. Not only are you more likely to end up plagued by indecision, but the choice you make may not result in the best quality meal for your time and money. It’s the same in business. If you offer too much, you’re not going to offer the best quality out there.
However, if you head to the sandwich bar three doors down the road who offer one meat, one vegetarian, and one fish option with only three kinds of bread, you know that you’re going to get something a bit more special. This expert specialism is what keeps people coming back. Sure, not everybody wants a sandwich all the time, but when they do, they’ll know exactly where to go.
It can get even more specific than that, even. Medifit Design and Construct are a great example of a business that takes something that people look for (design agency) with a specialism (for healthcare practices). People looking for those particular services may be able to find a company that will do a good job designing their medical practice, but perhaps none as good as one that will be able to deliver the same attention to detail as a specialist company.
This is why becoming hyper specialist isn’t limiting.
Instagram - a platform which, at first, was used to show others a glimpse of our daily lives online via our photos, has now turned into a channel that engages a billion users. Since its explosion in popularity, many brands have turned to the platform to build their social presence and engage with their consumers in a bid to drive their outreach and profits. With 80 percent of users following at least one business on the channel, it is easy to see why so many companies are keen to grow their accounts. If you are a small business who wants to learn how to make an online community, expand your account, and grow your following, follow these three tips and build your presence up the right way.
Post consistently You may have heard this one a million times already, but there is a reason why this gold nugget of advice keeps popping up over and over again - it really works! The more often and regularly you post, the more likes, and consequently more followers you will get, and accounts that post at least seven times or more throughout an entire week gain followers and likes faster than those who don’t. Furthermore, having a regular and steady flow of content also works in your favour when it comes to Instagram’s famous algorithm, with consistency being a key element to getting your posts up to the top of the timeline due to more shares and engagement with your followers. Therefore for your brand to see the best results, plan your posts ahead of time, and already have content to last you at least a week. This way, you won’t be rushing to get a last-minute photo, and you won’t risk the chance of not having enough material to post, causing you to be irregular, which could have a big impact on your following and engagement.
Engage and converse
It’s no use creating beautiful visuals and captivating captions if you aren’t going to engage with your audience. The platform is a great way to make users aware of your business through conversation, especially as more and more people are using social media as a point of contact for many brands. Be open and communicative, and supportive and allow a discussion to get going, whether it’s about serious queries, customer care, random questions, or just to chat and to thank those who are praising your brand and products. Engaging with as many comments and questions as possible will make the difference when it comes to gaining more followers, converting your audience into customers, and improving your relationship with pre-existing customers. By engaging with them, your customers will see that you care about them and feel a more personal connection with you, creating more trust.
Know when to post
You can have the best post in the world, but if you share it when it’s the middle of the night for most of your audience or when most of them are at work, chances are they aren’t going to see it. Use the free analytics tool that can be found under the Followers section in business accounts to figure out the best times for you to post. By using a targeted approach, if you post at optimal times for your audience, you are likely to get more engagement. Look at what has and hasn’t worked for you in the past regarding how much engagement you got at various times to allow you to plan how you share your content more effectively. Alternatively, use a scheduling tool to automatically publish your content during the times when your followers are most engaged.
The subject of 'Free Followers' is one that comes up often, but spending your money on getting those 'fake followers' might well leave you both out of pocket as well as those followers, and this guide will tell you why.
Outsourcing crucial business processes is a popular business strategy that can improve business efficiency. It refers to the process of using third-party service providers to perform certain functions. In the past, outsourcing services were a reserve for large, multinational corporations. In the modern landscape, businesses of all sizes can enjoy the benefits of outsourcing.
In many cases, outsourcing is not only a business optimization strategy but a necessity. It’s often the only feasible way to scale a business, manage operations, or launch a product. When functions are outsourced to the right team, a company can enhance its efficiency and realize several compelling benefits.
Helps a Company Focus on Core Processes
The most significant reason why a business should outsource is to free up its time and resources for crucial processes. A business owner can spend time doing what they’re good at while everything else is taken care of by experts.
If a company is selling digital products, the focus should be on closing sales, not enhancing the site’s security features. The issues of site security can be outsourced to Managed IT Support providers.
One thing that slows business down is entrepreneurs thinking that they can do everything by themselves. Drop this mentality and see your business grow. If you’re not good at managing finances or performing human resource tasks, outsource them.
Gives a Business Access to a Larger Talent Pool
Hiring an employee for specific functions, like payments and finance, limits the talent a business can get. In most cases, this approach requires a company to compromise. With outsourcing, a company gets access to an unlimited pool of talent from all over the world. It, therefore, makes more sense to expand your search when looking for outsourcing services.
Outsourcers have access to a big pool of skills and tools that you may need now or later. They can quickly solve any arising problem for which you don’t have the right skill set. In-house employees don’t provide this kind of flexibility.
Reduced Overhead Expenses and Labour Costs
It's expensive to hire and train staff, especially where short projects are concerned. Temporary staff also rarely produce quality work as per the expectations of a company. Teaching processes and workflow to employees may sometimes entail investing in their education to enhance their business skills.
Outsourcing allows your business to convert fixed labor costs into variable costs. This means that the only expenses it incurs are for the consumed services. There's, therefore, more staffing flexibility that doesn't exist with in-house employees.
Outsourcers are also responsible for all licenses and accreditations their work requires. They stay up-to-date with industry changes and trends while constantly developing their skills to enable them to work smarter.
Employee turnover is risky and costly. When a staff member quits, all the money used in training and hiring goes with them. Turnover can disrupt operations and cause costly problems.
Outsourcing provides consistency and efficiency for your business. You don't have to worry about the interruption of operations or financial risks.
Outsourcing business functions is not always an easy task but is worth it in the long-run. It improves business efficiency by allowing you to focus on the most crucial aspects of business, like nurturing leads and closing deals.
Some outsourcing tasks may be occasional, but they provide a greater financial advantage than hiring temporary staff. If your business has been affected by high staff turnover, consider outsourcing some of the functions.
When it comes to payment, you don’t want there to be any awkwardness. The more you can do to improve your invoicing process the better. Whether your company works with individual clients or other businesses, ideally you want to streamline the invoicing process and make it as clear and easy for everyone involved. The smartest way to do this is by investing in invoicing software or apps, and they will take care of a lot of the work for you. Once you start to scale your business, you can also outsource your invoice processing. For now, here are ten smart ways to improve your invoicing process.
Invest in invoicing software
Consider investing in the best invoicing software for small businesses. These will all include automated features making it a lot easier for you to bill your clients and have them pay on time. You’ll also have a record on the cloud of all the billing information automatically. Using invoicing software or apps is also much more secure for both parties and will give your clients confidence. For small businesses, it’s much easier to let technology take care of this one.
Open a business account
What you can do, however, is open a business account. Whether you use an app or take email invoices, you should use a business account for all transactions. It’s much safer to keep your personal and company assets separate, and this will protect you legally as well. A business account will also give you more credibility and make a better impression on your clients.
Build a good relationship with clients
Whether you’re dealing with B2B invoicing or providing a service to individuals you need to build a good relationship with your clients. Mutual trust is vital and you need to treat your clients with respect and professionalism at all times. This isn’t a backup for a signed agreement, however, but the better your client relationship is, the more likely the invoicing process will go smoothly.
Write effective terms
In order to successfully invoice a customer, you need to learn how to write invoice terms. Invoicing software will have features that will help you do this, but you need to come to an agreement and ensure your client has understood. Ideally, you should clearly outline any hidden charges such as late payment or cancellation fees. Be sure that your client has agreed on your rate, and whether this is to be paid hourly, daily, or weekly, etc, and clearly define any deadlines.
Invoice at the right time
Believe it or not, some business experts say there is a best time to invoice clients. It can depend on the type of service your business offers, however. If you offer a quote before the work starts this encourages your client to trust you, but you could end up underestimating costs. Some companies invoice at each milestone in more long-term projects. It’s probably better to invoice at the beginning of the week to get them paid on time, or at the end of the month to help your client keep track of payments.
Share data with clients on the cloud
You should try to keep your clients in the loop especially if you’re offering more long-term services or projects. If you need to share any files or information you can try using project management or freelancing apps. Here are some of the best apps to share files securely for small businesses. If you use the cloud, you can grant access to whoever you like at any time from anywhere.
Almost all decent invoicing software will allow you to automate reminders. This is especially important if you’re dealing with several clients. You might even forget about the deadline for payments and clients commonly do. Set up automated reminders on your invoicing software as soon as you agree on the terms. You can then choose a date further in the future for the reminders to go out automatically.
Late payment charges
There are many reasons why you should charge late payment fees. It’s your livelihood at the end of the day and you don’t want to lose profits. Charging late payment fees or cancellation fees will motivate your clients to pay you on time. You need to be careful here to clearly point out that they will be charged for late payments. As long as you are transparent about all prices and possible extra fees from the beginning, the customer will more likely be happy. Even if they do complain about late payment charges, you will have written records of your exchange to back it up.
Multiple payment options
You could consider offering multiple payment options. This might be advantageous if you run an eCommerce, for instance. Multiple payment gateways allow shoppers to use their favorite payment method, whether it be credit card, Paypal, or ACH payments from their smartphone. If you have the means to do this, it could improve the customer experience on your website. Offering multiple payment options also makes your business appear more legitimate and creates trust in consumers.
Outsource invoice processing
There are several reasons to outsource invoice processing. You might have started out managing your own payments and finances but now you want to scale your business. The more your business grows, the more clients you will have, and this can only mean more invoices. If you outsource to invoice processing services they’ll have the resources and the capacity to cope with this rise in demand.
Outsourcing also saves you time and money. You will save on the overheads, salary, sick pay, and all the other costs of hiring an in-house team. You’ll also be able to increase productivity and spend more time focusing on growing your business.
If you improve your invoicing process, you’ll develop a better relationship with clients creating good word of mouth. The more quickly and efficiently you do things the better. Open a business account and let the latest in invoicing tools and technology do the work for you.
Starting your new business is a journey that will take you through many ups and downs. That said, it is exciting and one which is extremely rewarding. Plus, many people say working for themselves is the best thing they have ever done. When starting your business, there are many things to consider: branding, finances to websites, and funding. Below is an overview of a few things you should consider when starting your own business.
Creating your website
Will you be making your website yourself or hire a professional to make one for you? Depending on your requirements, a website will help bring in new customers to your business and allow you to appeal to them in a different way. Before starting your website, make sure you put a plan together of what you will need on it and the type of website it will be, whether eCommerce, or a brochure-like site.
When running your business, it is important to stay on top of your finances. Using an account package, you will be able to track how you are doing instantly through a click of a button. Not only that, but you will also be able to send invoices and keep an eye on your expenses. By using digital accounting, you can easily allow your accountant access to your books without having to visit them in person. This will enable them to log in and see how you are performing without leaving their office to meet you; it can all be done over a phone call.
How will you brand yourself?
Logos, brand colors, and marketing materials should all be thought about before launching your company. Your logo is important, as everyone will see first and give them the first impression of your business. Done cheaply, it can be detrimental to your brand. Brand colors can portray a lot about you; if you are a luxury brand, you may want more gold’s and silvers used instead of bright funky colors. By hiring a graphic designer, they can help you with all of this.
Testing your idea in the real world
If your idea is completely new, how do you know it will work? Before investing heavily in your idea, it’s worth creating some prototypes and seeing how people respond to it. This is a great way to get actual feedback and to get other people’s opinions. Take note of what people are saying is you can use this to develop your idea and make it even better.
Will you need investment?
Will your business plan require you to need significant investment, or can you gradually grow your business? If you need investment, have you considered how you are going to raise funds? Make sure you do your research and put together a solid business plan to explain each step of your journey and how the money will be spent. Angel investors, bank loans, competitions, friends, and family, there are many ways for you to pitch and bring in some funding for your idea.
If you want to save up money prior to starting your own business, then looking at diversifying your income can help you build up a pot to get you up and running. You can get a lodger licence template and rent out a spare room, you can create a side hustle that allows you to save up to have funding available and gain experience in running a company, or you can sell off items you own. Knowing where the money is coming from is vital.
Author - chris
Author, Editor, Creator of this website.